Oddbean new post about login | logout imagine accumulating that much and losing it all by trusting third parties… there’s a high probability this will happen. It has happened before and it will happen again. nostr:note19gl5cgufxrtsq5wjau7qm3snu4k8d7py85u585rrtepvq8zpclvs0fcx9a
no doubt about this specially when governments get involved 😂
Bitcoin is black market money at the end of the day, its entire point is to resist the state. Voskuil explains this well in cryptoeconomics. Failure to recognize this will be his downfall.
Then Bitcoin is dead, forever. You telling me I should trust some random anon on the internet more with his crappy code then institutions that banked countless generations of mine? Not gonna happen.
How are these institutions fairing exactly?
My bank does their thing very well. If you don't have a bank that does their job well itmis a you problem not them.
Sorry to break it to you but the entire banking system consists of fictional reserve institutions just waiting to implode at any moment. But i guess thats easy to overlook if you’re on their payroll.
That's the whole point, man. Don't trust anyone, have your own keys, and your property will be secured by mathematics.
More and more I think that is the smartest thing to tell anyone to enable 5$ wrench attacks far and wide
Is this your best argument agains self custody?? Nvm boy, keep your fiat in the bank. You deserve it.
I do self custody, have a multisig and verify my downloads. But tell me how many people are able to do that? I doubt it is the average person, probably not even 10% are capable to have a secure system and should have the option to have a trusted entity that helps. Banks could be that entity, the small regional ones. Not the international asset managers of course
yeah I think the best point he made is that we aren't currently on a Bitcoin standard. what does he think the gov will try to do once on a Bitcoin standard?
Thing is no matter what he is saying MST absolutely self custodies.
He ain't an idiot, he is singing their song so he stays alive. "the first rule about the fight club..." :-) What else did you expect him to say? F the govt? lol He is running a public company, he needs to obey or else...
Its evident through his own comms that Satoshi was paranoid, that Satoshi was a cryptographer, that Satoshi was displeased with central bankers and the federal reserve as an entity that should not be trusted to be a responsible party with currency (anarchist in a sense). So Satoshi Nakamoto was essentially what @saylor is calling a “Paranoid Crypto-Anarchist.” Saylor knows this clearly, he would be an imbecile otherwise. IMO Saylor is making a “hard left” on what bitcoin represents and the people it was specifically designed to serve because: One: Exchanges holding a majority of bitcoin enables them to manipulate the price, thereby enabling Saylor and the like to buy at discounts. Because they buy such vast quantities at a time this matters a lot. When the exchanges are only able to hold a minimal amount bitcoin, their ability to manipulate price is significantly reduced. Two: Saylor has been tapped on the shoulder, and therefore his song and dance will now be along the lines of this interview going forward. #bitcoin #honeybadger #GFY
It´s a matter of -when- the honeypots get breached, not if 🙃
That interview feels a little weird. Don’t you think? Who else felt that?
I had a different thought when I watched this. My thought was Saylor is playing 3D chess he has a mission and a platform to influence politicians and wall street. To achieve mass adoption he wants to see governments quickly becoming pro BTC and to accomplish this having the banks on board makes that much faster and easier. Path of least resistance. Once people have exposure even if it is in a bank then you are only one step away from self custody.