Nostr Web Client

Is nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m's goal to support the USD world dominance?

On this recent podcast about an hour in: https://www.galaxy.com/insights/podcasts/galaxy-brains/michael-saylor-on-btc-at-100-k-and-the-future-of-micro-strategy/

He says Bitcoin will never be a currency. He wants USD-backed stablecoins to be the world’s currency. He wants them to be issued by US-based financial institutions like JP Morgan and Goldman Sachs.

He says, “My evil genius strategy: you dump gold, demonetize the gold network, buy bitcoin to monetize the bitcoin network. You support digital currency and you define digital currency as the US-dollar backed by US dollar equivalents in a US dollar custodian.”

His ideal view of the world seems to be a US-centric, Wall Street ruled custodial currency that continues the US world dominance at everyone else’s expense.

I’m curious what nostr:npub1jt97tpsul3fp8hvf7zn0vzzysmu9umcrel4hpgflg4vnsytyxwuqt8la9y and nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe and nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a and nostr:npub1rxysxnjkhrmqd3ey73dp9n5y5yvyzcs64acc9g0k2epcpwwyya4spvhnp8 think.

Jeff Booth 1y ago

I’ve been talking about this for a long time. Two contradictory forces - one: manipulated money, coercion, and control —-versus the other: a global free market allowing prices to fall.

In over 5000 years of human history, we have never had a global free market because we have never had truly decentralized and secure money. In other words, “we” must be part of the problem. Ie - our short term incentives conflict with our longer term “beliefs”.

That is what is going on here and every person has a choice (not just the rich telling you how to live) If everyone chooses to trust others with their #bitcoin and bitcoin becomes only a store of value, it will eventually centralize and fail.

If enough people realize the risk of centralization and pricing in a USD derivative, hold in self custody, run a node, spend in it, help others build to it, the protocol will reprice all of those trying to centralize. (And those holding on those exchanges)

Ps - This path is inevitable in my mind and only a matter of time preference.

This is also the choice when you spend more of your time on #Nostr. You are part of an early group of people who understand deeply how their own time matters in creating the world they say we want to live in.

Happy holidays and welcome to #Bitcoin and #Nostr. It’s been amazing to watch your journey down the rabbit hole since our lunch together.

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Discussion

less 1y ago

#wisdom

HTG⚡️#HODL 🔐 1y ago

Profound! Thank you. Always a pleasure to learn about your beliefs and mentality on this matter. Thank you for being an inspiration to me and to the thousands and thousands of #Bitcoin and #Nostr protocol. Live Strong and More Power to you sir. 🫡💜🙏🧡

Chris 1y ago

Ah ok. I guess his perspective wasn’t a surprise to anyone else. I’m starting to get the lay of the land on who’s taking which outlook.

It would be unfortunate if Bitcoin turned into just another prop for the IMF-rape-and-pillage society. The promise of infecting the world with an honest money virus that undermines the current world order is appealing.

But, the black hat in me recognizes that history tends to favour those with money and guns.

Jeff Booth 1y ago

That’s why this is so different from any historical precedent. Because of the decentralized and secure nature, the first time that money and guns can’t control the outcome - as long as enough people know —- and then contribute —-/

That knowledge is growing through interactions like this and is unstoppable.

Chris 1y ago

I can see that parts of it are unstoppable. I can see how the scarcity, decentralization (mining and nodes), honesty, and p2p transactions can never be taken away. And that’s enough for me to be a full patch Bitcoin advocate!

I’m still uncertain about the fullness of it, though. For example,

- The IMF can still compel El Salvador to abandon their bitcoin plans.

- The US still may follow Saylor’s world domination “evil genius” plan and compel USD stablecoin currency.

- Governments could use taxation and implicit violence to dissuade retail acceptance of Bitcoin payments.

My sense is that governments will fight hard against this once they realize their centralized control is being challenged. And they have a lot of power over the general public who may not have relocation flexibility.

I’m still not seeing how fiat replacement is inevitable, even though it clearly would be a massively better world.

Hedraios 1y ago

IMO, this is where incentives come in. If #Bitcoin is what we think it is, then it will be naturally attractive to anyone who uses money.

The only way to slow adoption will be coercion...which will itself only make the case for #Bitcoin more evident. (In my mind, this is what we mean when we say Bitcoin is antifragile.)

Trying to stop #Bitcoin is like squeezing a hand full of sand.

The sand will find a way out.

Chris 1y ago

And Merry Christmas to you too!

M0053 1y ago

Important conversation.

I wonder if Saylor is running a long game strstegy hete. He is no fool.

But... Occam's razor...

nostr:nevent1qqszjwcymmtgyt0rm9vgqalu0llvqzzr53a9ee0d0l688jsnys6ds8qppemhxue69uhkummn9ekx7mp0qgsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcrqsqqqqqp67udmp

Azz 1y ago

It's in every Bitcoin holders self interest for Bitcoins value to go up. Even if Saylor and Blackrock want to capture Bitcoin, they still need it to offer a better alternative than any thing else. if they capture it too conclusively, everyone else will find their interests aligned elsewhere and Bitcoin will fail and they will lose money.

The trojan horse has entered the fiat city gate.