Bitcoin Note: "Don't feed the Trolls"
November 29, 2023
"Charlie Munger wasn't an advocate of Apple...." - Saylor (2022)
Charlie Munger left a great legacy of the 20th Century, BB (Before Bitcoin). He never embraced technology, sadly he criticized technology when he didn't understand it.
Today, I think it is wise to remember what Saylor has been saying for years, essentially anyone can criticize something they don't understand and perhaps it is in people's best interest to advocate for themselves and to not listen to experts. Especially when experts are clearly not putting in the time to understand something they are criticizing.
In Saylor's words, note how he rightly called out Peter Schiff as being a Bitcoin Troll. What I didn't know is just how little of Peter's portfolio is actually invested in Gold, a mere 5%.
Saylor, from March 12, 2022
https://www.youtube.com/watch?v=DudF7NeZiOo
" I don't think we should be spending a lot of time fixating upon the opinions of of famous and powerful and rich people about a technology that they have not chosen to make a focal point of their interests well especially when they're 98 years old.
I think the more important point is everybody thinks for themselves so you wouldn't go to Charlie Munger and ask him to pick out stocks in your (portfolio). Like name every winning stock in the past decade Netflix Google Apple Facebook Amazon how many of them were recommended to you by any of these people?
None of the Bitcoin antagonists or critics would have recommended or did recommend any of those stocks so it's it's kind of a moot point it's really just marketing or "sparks" that are being sent up because what happens is these guys in the media. (The media) interview them and they want to get a rise out of them so they actually throw this out there nobody's asking Warren Buffett's opinion of silver or gold right now because no one's interested in hearing the answer."
ON CRITICS AND GOLD:
"The fundamental point here is is you have to give the world a solution to their problem not just be a Critic if you want to be a Critic you can criticize everything but but what's his answer if you listen if you listen to Peter's (Schiff) debates what he says is he only has five percent of his portfolio invested in gold which means that he has 95 percent invested in something else.
But what is this something else and the point is he you know you're back in the same you know hedge fund Shuffle mentality it's like just give me all your money and I'm just going to shuffle it with random 95 opacity on random stuff back and forth but don't question it. What about the five it was a recommendation he would own more than 50 percent of his portfolio in the gold but he doesn't believe in it so but his argument would be I don't recommend people to buy 50 percent I recommend people to buy two to five percent that's his position he doesn't have an answer to the that that means that you're going to lose 95 percent of your wealth.
The issue with Peter is Peter's not offering a solution to the world right he's simply trolling Bitcoin and he's not trolling Bitcoin with any any real concrete criticism other than he just doesn't like it. Find me somebody in the world who has invested more than 50 percent of a portfolio in gold or at a billion dollar level. I got my position is pretty clear I've invested almost four billion dollars in Bitcoin."
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Me:
To prove Peter Schiff is a Bitcoin Troll as Saylor stated over 20 months ago, look at this recent poll of Schiff's, the results. Almost 25,000 responses. Bitcoiners are feeding the troll's ego when he could questionably be a 'Gold Bug' at 5% of his wealth. Schiff's Total Net Wealth is a fraction of Saylor's but more importantly Saylor's value to society is astronomical compared to Shiff's. Saylor wants to leave a legacy for the world, selfless. Schiff wants to leave a legacy of himself, selfish.
I have dedicated my Bitcoin time to go back and 'mine' words spoken in the past since each day that passes the words still are meaningful with Bitcoin. Since Day 1 with Satoshi, that is one of the secret beauties of Bitcoin to me, "words spoken yesterday are still relevant today."
This effort post (manual) of mine below has the entire Gold Debate by Saylor point by point showing why Bitcoin is superior to Gold.
https://bitcoinapolis.blogspot.com/2022/12/bitcoin-digital-gold-versus-analogue.html
Source of the Schiff Bitcoin Poll: https://x.com/PeterSchiff/status/1722640540649279590?s=20