Michael Saylor’s recent dismissal of self-custody is not just misguided, it’s downright dangerous. To suggest that hardware wallet manufacturers are “just after your money” while downplaying the importance of self-custody reveals a troubling lack of understanding about what Bitcoin truly represents. As someone with significant influence, it’s disheartening to see him undermine the very principles that make Bitcoin revolutionary.
These manufacturers are not merely profit-driven, they offer essential tools for financial sovereignty. Bitcoin was created to give power back to the people, freeing them from the control of banks and governments that have a long history of failing them.
Saylor’s perspective reveals a disconnect from the realities of those who depend on Bitcoin. He suggests that “banks or governments won’t take your Bitcoin,” but this naiveté ignores the numerous threats that exist. Banks can freeze accounts, governments impose capital controls, and exchanges can be hacked or seize funds. In countries around the world, we’ve seen governments brazenly confiscate citizens' savings, stripping away their wealth overnight.
For Saylor, Bitcoin might be an investment opportunity, focusing solely on "number go up." But for many individuals around the world, Bitcoin is a lifeline. If he sees self-custody as a mere sales tactic, it shows he fails to grasp its importance.
By promoting reliance on third parties, Saylor is inadvertently encouraging a return to the very systems Bitcoin was designed to circumvent. This is not just disappointing, it’s a betrayal of the foundational ideals of Bitcoin.
With self-custody more crucial than ever, we're here to guide you in the right direction. That’s why we’ve prepared something to help you and those around you, secure your wealth, free from trusted third parties.
Stay tuned, we have an exciting day ahead!
He has a point though.
Most people are retarded and will lose their keys.
Self custody is for high IQ and responsible people.
He also didn’t make any explicit comment against self custody. He just pointed out the economic incentives. People getting triggered are just outing themselves as those spreading fud to sell you something.
Responsibility-go-up technology. Just like guns.
Not a great comparisons.
Guns aren’t endlessly complex.
12 words?
Most people can’t remember 9 numbers or what day of the week it is.
Yeah they can. If you can operate a motor vehicle you can self custody.
People just got used to passwords not mattering, because of centralized systems.
That said, I don’t think self custody is for everyone.
lol.
Do you know how many people die every year from MV deaths?
Most people can’t drive a fucking car let alone keep track of the banking passwords.
Yeah around 40K deaths in US by motor vehicle accident. You may not like “how” they’re driving, but most people can and do go through life being able to drive a car.
Most people lose passwords because centralized online infrastructure built out in a way that the importance of key management wasn’t a priority for people, simply because it didn’t need to be.
It’s amazing what people are able to do when they learn new things.
You give people way too much credit.
Guns require responsibility. A lot of folks aren't responsible enough to own guns either.
Saylor is one of the most well-known persons in Bitcoin space. If he would tell the people in a public interview to revolt against the governments, that would cause a total disaster for Bitcoin. Especially in a time when central banks start getting fear.
So he did it the smartest way possible in his situation.
Saylor is a full Bitcoiner and, if you haven't just watched the few cut clips roaming around at the moment, around 20min later, he is telling his real opininion about Bitcoin.
People have to understand, that a person like him, just can't say what he wants in public without causing enormous trouble for the global Bitcoin development.
Start listening between the lines 😉
That was my biggest red flag from that talk, saying that companies use fear mongering to sell more hardware wallets... I wonder what happened to him to reach that point and say these things... 🤔
Totally agree, those are my feelings too, and I am just a random pleb who wants to be self sovereign and protect my future wealth.
Very worrying that Saylor with his influence in Bitcoin takes this direction now...
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