"No, Michael Saylor, that’s not what I want. In fact, it’s very far from what I want." - nostr:npub1dnzzyhmewrzkh862z7z2shwmhh5htx0rvkagepj2fkgst9ptwg3qj4x52h
Mike has some pretty screwy ideas but some of the shit in here is downright sinister. Excellent piece by Frank.
https://bitcoinmagazine.com/takes/michael-saylor-doesnt-understand-bitcoin
This is intense and gives me a lot to think about, but I do see some things. I don’t see others. I don’t know I get it. very complicated.
so in case it's not confusing enough, here's my confusing take: the tax treatment of bitcoin is that it is capital.
to spend something as money that causes you to loose 20% of it's value just for spending it...that doesn't seem very smart.
so i get why Saylor is like "let them have dollars, if we can keep the bitcoin and issue debt backed by it."
since it's digital capital that has the technical ability to be money, once there is regulatory clarity.
until that day comes, I get why someone who is efficiency-oriented to not spend it and issue these stable coins.
the rest of us zapping capital as money are just eccentric.
i could be wrong, but i don't think nature likes eccentric.
Maybe not but maybe
The good thing is that, at the end of the day, Saylor will confuse the "not so smart but evil" that also want to conspire 🤭. A house of cards
Thank you for reading and sharing!
You’re welcome, Frank.
The more Mike talks the more cringey it sounds.
#bitcoin is capital
#Sats are currency
#Saylor is way more than what people credit him for ..
If #bitcoin didn't become capital first ( aka digital #gold) , there is absolutely no chance a #Sat would replace a penny 😔
2025 will be the year bitcoiners turn on Saylor.
Some, maybe. He has a lot of diehard fans, though. I hope maybe he just stops saying bitcoin isn’t a currency and just sticks to what he’s doing with MicroStrategy
Saylor actually exposes the grift in fiat without the social hit of coming out against it. The question everyone should be asking is why accept the credit not the asset? All the trillions that the US would benefit is actually the arbitrage on ending the fiat system and just holding Bitcoin.
