There is a famous bitcoiner who popularized the term "bum bum check". He left the mother of his daughter for a onlyfans wannabe pornstar. They took pizza pictures together as if his audience wouldn't notice that the girl in this picture was different....
He now peddles alpha male bitcoin meetups.
You will have to dig up the bitcoin drama on Twitter to find out the drama that ensued.
https://www.cnbc.com/2024/06/03/bitcoin-billionaire-michael-saylor-settles-dc-tax-fraud-case-for-40-million.html
His take is so bizarre given that he had to pay 40 million to DC for unpaid taxes. There are only 2 possibilities:
1) He is a tax cheat and purposefully evaded taxes.
2) The DC government employed lawfare to shake a few million out of him because the cost of defending himself far outweighed the cost of simply settling even though he did not have residency in DC.
If case number 2 is correct, there is 0 reason to trust the government. In this case, it was 40 million dollar shakedown that he could pay off. If BTC gets to what we think it will, self custody is absolutely essential.
I suspect there is more to the story as to why he is doing a U turn. In his tax case, apparently one of his "friends" snitched that he was bragging about not paying taxes in DC during parties. DC recently employed a bounty system where snitches get x% of the amount paid.
Perhaps it is the case that he is trying to avoid further scrutiny since there is a large target on his back now. If he wasn't such a BTC advocate, I doubt the tax claim would have been raised.
Central banks are now raising red flags about the threat of BTC. The last thing he wants to do is raise the ire of the multi trillion dollar finance community if he were to advocate their extinction with the proliferation of self-custodial solutions.
Do you think mstrs inclusion into the s&p500 will permanently increase their NAV to their bitcoin holdings? Alot of bulls think so but I'm not to sure how those mechanics will work with passive flows from the hundreds of s&p etfs.
Nice read. When you wrote for the motley fool, did you ever meet David Gardner? I was a subscriber to the MF stock picking service for a very long time until I found btc.
MFs questionable marketing aside, one of the most under rated investors imo.
I was an econ major. I think partially the reason why they don't teach econ properly is that there is a inferiority complex when it comes to more rigorous hard sciences like physics. If you look at a modern econ textbook, especially macro, it's filled with equations to compute meaningless enigmas that predict nothing. It reminds me of astrology several hundred years ago where they too had complex charts and math... which they conveniently only understood...to predict nothing. I found econ to largely be a waste of time... Fortunately I double majored in math which led to a more fruitful line of work in systems engineering.
If you understand this simple concept, you will understand income inequality: banks lend money to people who don't need money.
If the basis of your stimulus program is to make it easier to lend money, take a wild guess who that money goes to.... people who don't need money.
Dude your wasting your time bruh. Ive seen enough "debates" with this clown to know what he is about. You are better off spending time in other platforms explaining bitcoin to those willing to listen vs giving clown airtime.
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