Oddbean

This is the most comprehensive interview I have done with @saylor - we discuss the future of Bitcoin and other digital assets (he calls it the Crypto Renaissance), the impact of the election’s Red Wave, the success of $MSTR, and a fascinating lightning round you don’t want to miss: https://youtu.be/pQ7fjpqzUS4?si=sOmS26QA33xCVPyh

Saylot obviously see “the big idea” as the SoV at 450T and I agree. But he says MoE is worth 10T so how does logic not say that BTC is simply worth the 460? Take for example people who want to live 100% on a Bitcoin standard. They have a stack that they have to peel bits off of as a result of converting all their income into BTC. They then spend on their necessities. With Layer 2s doesn’t BTC just eat MoE as well? I know it’s not worth as much as the capital aspect but the majority of people in the world aren’t wealthy enough to build a lot of capital they just want the little money they do earn to not be debased. Maybe he would agree with that it’s just not exciting for him but I think the rest of the world would rather go eventually straight to lightning or e cash or whatever later 2 instead of a dollar

Saylor pressed all my buttons in this interview. I don't share his view of #bitcoin at all. I would go as far as to say he is wrong in how he characterizes bitcoin as digital capital. I would not compare bitcoin to other assets we currently have like real estate, etfs, equities, and bonds. The only person who would compare these when deciding to make a purchase are folks who are purely looking at the numbers go up side of bitcoin. Consider this thought experiment, lets all of us sell everything we own to buy bitcoin. How will that even work? Who will buy our things? where do we live? rent? rent from who, they also want to sell to buy bitcoin? Are all the operating companies now worth zero? of course not. Just like how we humans don't have all our value stored in Gold and prefer to have it in operating ventures, the same will happen to bitcoin. it will end up being a small portion of your wealth portfolio. ITS CALLED THE BITCOIN STANDARD, NOT THE BITCOIN ASSET. nostr:note1uteftxf4r6nh8320zy3lswyycgtyvcstqfekekga7ruefa06dk7sjzz8y9