The more saylor buys, the less for us
This is an L
Discussion
The more he buys, the more valuable ours becomes.
Do not sell your #bitcoin to saylor & bkackrock
Two outcomes:
1) Saylor dies with his keys, making all other bitcoin more valuable by effectively destroying some supply.
2) Saylor eventually sells/spends Bitcoin, thus returning supply to the market, but to those from whom he derives value, i.e., the productive members of society.
It’s a win win.
what he hell is he going to spend billions on? really...
It depends
He’s not buying all of that for himself. He probably has his own wallet we know little or nothing about. This is using other ppls money to go place bets on Bitcoin. Doing stuff like using Bitcoin as collateral when it is low and then buying much more when he is high.
He’s got the guts of saying that anyone who trades Bitcoin has low intellect and then goes to leverage other ppls Bitcoins when he shits himself due to margin call and liquidation levels.
I don’t think he holds his own keys.
Sauce?
Most of it is owned by MSFT, a publicly traded corporation. I have not heard any report of them using self custody. Most likely, it’s held by Coinbase or some other custodial giant.
*MSTR not MSFT 🤣
They use Coinbase as custodian, it's reported in their stock annual report
They also use Fidelity.
I think Microstrategy will open gigantic Lightning channels and draw balls long fiat loans against their bitcoin. BTC for them, and a Microstrategy account for you
Very interesting take. Do you have any recommended interviews where he has given you this idea? I really think we are underestimating this man still.
Saylor isn't buying, MSTR is buying. The solution is simple, don't sell your Bitcoin.
Any institution realizing and demonstrating bitcoins capital preservation usecase is a win for Bitcoin.
Yes but the less that's available, the more ours are worth.
It’s going to suck for Saylor when they 6102 his bitcoin and compensate him with dirty fiat.
They're dollar maxis so they'd probably like that 😂
ok so we need saylor go bye bye ?
I think it's very important that plebs own their UTXOs AND for people to grow the p2p space otherwise fatcats like Microstrategy will dollarize bitcoin and diminish its freedom properties. But hey, it's all good so long as FIATGOUP, right?
So what you're saying is we need to stack harder
I just don't get his insistence of bitcoin being a store of value over being a money/currency. Seems like it's the antithesis to bitcoin's ultimate purpose. Not that being the store of value isn't important. In the chicken or the egg scenario bitcoin has to obtain status as a store of value before it can be a useful steady tool for daily use.
Obviously base layer transactions weren't meant for daily/micro transactions, but the goal was not to stop at the base layer, right? He no doubt understands this. He understands the importance of building out layer 2 and 3 solutions. It just doesn't make sense then when he starts saying things that seem to conflict with that. "I will never ever sell my bitcoin."
Am I off/missing something?
As someone who ran a bitcoin payments business I can say it's pretty much impossible to be a medium of exchange with so much volatility
Businesses have to pay their bills in fiat, if they accept btc all month then it crashes, they might not be able to make payroll
Bitcoin still needs to prove it can be stable before it's used as a true medium of exchange
But I'm retarded don't listen to me
Any thought of BTC stability is still a decade away. But having BTC merchants willing to take the risk will set up the infrastructure for when it does eventually stabilize in some sort.
Yeah, sorry if my other post made it seem like I didn't get that. If I'm wrong then I'm wrong, but it seems like Saylor thinks it doesn't matter if it ever gets to the point that it becomes a viable medium of exchange. Maybe it doesn't, but unless we (the US at least) back the dollar with bitcoin how will it help regular people?
Imo saylor is very low signal, I wouldn't worry about Coinbase custodial maximalists have to say 🫡
Ppl gonna hate on me but until I see him shipping and supporting open source Bitcoin products idgaf what he has to say
Just goes on TV and encourages ppl to buy tops and institutions to take all the coins
Watching Preston Pysh's podcast with Parker Lewis and Will Cole and Parker Lewis summed up the friction of Saylor's view of bitcoin as a store of value. "The reason people don't take a fraction of their equity in a building on Fifth Ave to buy a cup of coffee is because a building isn't money. Money is property, but not all property is money. And that's the distinction between a store of value and money. Bitcoin can be both a store of value and it can be money."
But Will did make the point of saying Saylor has made himself very public with his accumulation strategy and that portraying bitcoin as primarily a store of value he's trying to not be perceived as someone that is trying to cripple the dollar. Doesn't mean the rest of us have to see it that way though.