Oddbean new post about login | logout Saylor's going to gaslight folks into believing that self custody is bad and we shouldn't continue improving the protocol because he wants you to buy $MSTR and regulated ETF products. https://video.nostr.build/f65d7319f8e8197664aa647c7a86f6f3b3e1ab0754459b85727025ac53ae5a53.mp4 As I've been warning https://image.nostr.build/749fd2e90569f62b1e44a8d778d91408598dc05cae07b55c8b4c0a0ec4888153.jpg
This feels a lot like the blocksize war. You had big corporate interests telling people nodes don’t matter, only miners matter. Here you have big corporate interests telling you holding your own keys doesn’t matter, only institutions matter. Can we just skip this mess? The outcome will be the same. We will meme them into oblivion, we’ll run our own nodes and hold our own keys, just like last time.
where there is a cut to be made, there will be bankers willing to act as conduits for on/offramps for bitcoin they are playing a game of whack-a-mole and driving a brain drain... the more they increase the tyranny, the less the smart people want to help them do it, and they go somewhere else where things are more reasonable like here in Madeira, for instance, if mainland EU tries to crack down on bitcoin, this will only increase the influx of more bitcoiners to the island who will continue to increase the amount of business being done here denominated in BTC, and provide yet another piece of ammunition for Albaquerque to promote this island as a bitcoin haven and add fire to the simmering discontent with Lisbon and Brussels that is very obvious when you talk to locals. we are in nero fiddling epoch of the global anglo-german-american empire at this point... the point where the normies realise they are being ridden
I have a feeling that the next war will be more difficult than the last.
Maybe? But we’re more experienced now, with better tools.
Why more difficult? Does not matter how many coins custodians have? Node runners decide the rules like last time. Worst case they can ban non-custodial BTC maybe but they can't easily capture network majority. Saylor positions himselfMSTR as big custodial player maybe. Or 3d chess to downplay power of self custody? Or compromised/ back on the wall?
The only way out is through.
Imagine a doxxed guy that uses a legal infinite money glitch having different incentives than anonymous plebs.
snake oil
Wanted to be the Devil’s advocate half way through the video, but then he made himself so clear that I have to say he’s absolutely wrong!
I have creepy filing that paranoid crypto anarchist its me 😛 holly fuck, this is typical propaganda method - putting dehumanizing labels.
Me too. The fact that I am memorizing my seed phrase because I see the government smashing doors and looking for seed phrases is a bit scary too. My question is can a court compel you to say your seed phrase? You don’t have to testify against yourself… Just wondering….
They can beat and deprive you, blackmail, take your family hostage. you know the usual state things ...
Saylor should now be considered a hostile actor against Bitcoin. In case he wasn't before for you. nostr:nevent1qqs0sl2jdkdl5gpxs2qhgq58fknlsjspp3ghagjtjya0qxkrseh93ugpremhxue69uhkummnw3ez6ur4vgh8wetvd3hhyer9wghxuet59upzpaegm8nwwpyrtrnsjv84efjtp9mhpkvfenvxs487vx8d48y28qgxqvzqqqqqqyzpjunq
Not sure how Saylor's comments will play out. Seemingly shocking, but presumably aimed at reducing perceived risk to government. Thereby reducing risk of government interference in his business. Doesn't sound good for plebs though.
@saylor self custody is a right. I lost on mt Gox your not gonna fool me twice.
I am not sure how he managed to integrate himself into the Bitcoin community, or why so many people have started to look up to him. The guy is stuck in a traditional finance mindset, and there were signs of this from the very beginning when he first started talking about Bitcoin.
He has a broad and versatile lens. His mindset isn’t pro either Bitcoin only, or defi or tradfi, his posture appears predictive on how this assets asserts itself into the financial landscape that exists and will conform to fit it, and what we and humans will want to structure around it as the integration matures.
Is it possible to think Saylor will be fine but also he's not gonna make it NGMI nostr:nevent1qqs0sl2jdkdl5gpxs2qhgq58fknlsjspp3ghagjtjya0qxkrseh93ugpzpmhxue69uhkummnw3ezumt0d5hsyg8h9rv7decysdvwwzfs7h9xfvyhwuxe38xds6z5lescak5u3gupqcpsgqqqqqqsjgzk23
Should we not own guns since they are sold based on fear? What a ridiculous statement.
not really fear but the knowledge that shit happens bitcoin's whole architecture is based on knowledge that shit happens and how to avoid it taking things down
Absolutely. 🤝
Yeah, his tone and messaging has really changed these last 4-6 weeks. Is it simply just to puhmp MSTR by enlisting the bitcoin ignorant during the upcoming bull? Or something more questionable.
They turned in their gold under threat of violence. That's not a voluntary act. Then it was devalued at the flick of a pen. SELF CUSTODY YOUR BITCOIN. nostr:nevent1qqs0sl2jdkdl5gpxs2qhgq58fknlsjspp3ghagjtjya0qxkrseh93ugppemhxue69uhkummn9ekx7mp0qgs0w2xeumnsfq6cuuynpaw2vjcfwacdnzwvmp59flnp3mdfez3czpsrqsqqqqqpqxhxx8
There's something moronic about being offended I swg. We all have our own mission, he's doing his part very well.
He has to talk corporate because he is a part of that world. He also speaks pleb because he came from that world. I respect him and he kinda is right.
Thanks for the zap @bitcoindiary. That is too awesome.
He knows it is layers. Self custody is the foundation. Exchange held is a service layer. ETF is a disconnected, fee’d, access-to-spot-value layer. MSTR is a jetfueled next tier layer. Derivative products are a further disconnected layer. He gets all of this. He’s talking about its evolution, and I don’t find it a stretch. The future bank-style service layers will get safer for noobs and cheaper for leverage access, etc. Just like the dollar is layer after layer of financial services, transaction channels, and derivative products, BTC will mimic this naturally as it integrates with finance. It’s just unable to be debased. Bitcoin wouldn’t have been invented if the dollar wasn’t being debased. That’s the dollar’s real issue. Not the products that surround it. Some products will serve is well, and others will fail with a product that has the characteristics of Bitcoin. We’ll see what peripheral instruments are good and which ones fail.
Thank you very much but the protocol is just fine the way it is (normal maintenance and security improvements excluded). Bitcoin is for significant amounts. L2 is for fairly meaningful amounts L3 is for spending accounts. I don't need to put pitty cash in a Fort-Knox-like security. #Bitcoin #Lightning
Short sighted view. In order for Bitcoin to support more sovereign users it will require a variety of protocol improvements. Otherwise mass adoption will mean most people only hold IOUs with trusted third parties.
On his way to become rich af, @Saylor lost the plot
I think Saylor is speaking to institutions now, not individuals.
In India it is very difficult to self custody #Bitcoin 1. Exchanges got hacked recently. 2. Not many orders on DEX. 3. 30% tax 4. 1% tds on every transaction nostr:nprofile1qqs2xs05tluhtr6hpgsmqqxp04898gayjlyrjlexcrndv8j6el784xqpr9mhxue69uhhyetvv9ujuumwdae8gtnnda3kjctv9uq42ldx helped Indians to get exposure to #Bitcoin
Pretty sure you’ve been gaslighting people into thinking you're a bitcoiner for quite some time all the while knowing that ethereum is an attack on bitcoin.
When it's his business it's capitalism, but when it's Saylors it's ideological treason. With that said Lopp is a Bitcoiner. I am curious though, is there actually any demand for collaborative ETH custody? I can't imagine it's a big market.
A bitcoiner wouldn't develop and promote Ethereum services. He's an opportunist, which is fine. But to get on a high horse like he owns some moral high ground is rich.
Here, I wrote this for you. https://blog.lopp.net/history-of-bitcoin-maximalism/
Thanks. I bought one of these. https://blockstream.com/jade/
What show is this?
Saylor is selling it to the TradFi normies.
Getting some SaylorBF vibes off this recent interview 🤨 https://image.nostr.build/07f5b447cc828f7c6feccb98e0830cc8ad91b1de3f181830ebd1e8ac8fb87c73.jpg nostr:nevent1qqs0sl2jdkdl5gpxs2qhgq58fknlsjspp3ghagjtjya0qxkrseh93ugpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsyg8h9rv7decysdvwwzfs7h9xfvyhwuxe38xds6z5lescak5u3gupqcpsgqqqqqqsmphz55 #SBF2 #bitcoin #nostr #memestr #meme #plebchain #plebs #zap
Actually the lack of modern, user friendly L1 mobile wallets gives him and others the opportunity to make this case. The network would have much more self custody onboarding if we only had at least one single recommendable L1 wallet on each major mobile OS platform. Yet, instead of solving on a technical level the discourse somehow vastly over concerns itself with ideological battles. Name one sensible L1 wallet that requires no paid, shady hardware accessory to function? Muun, Green, BlueWallet, all on either questionable codebases or in maintenance mode, and barely understandable to navigate for technical laypeople.
Slay your heroes
Yeah, they didn't force people to hand over gold it was voluntary... they didn't force anyone to have covid jab, it was voluntary... ummm. For the moment I say Michael Saylor trying play both sides. 😳
Setting the stage for regulatory capture. This was always the plan. nostr:nevent1qqs8qqagm8k7rw3hlgt243e9mr6rl74gxn7hmzvm787shfjd836eukspr4mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmp0qgs0npwnpyvheqz7zuvuwvv9k460c0hyqlturds40hhfn34vufvehwcrqsqqqqqpwvvw09
Fair point.
