Michael Saylor saying bitcoin is not a currency, but capital, enforcing the idea quoting J. Powell that said bitcoin competes with gold.
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Discussion
Luckily Bitcoin is whatever the holder decides it is.
#YESTR!
It's funny as 20 mins later he suggest that "US should sell all its gold to buy bitcoin so this would de-monatize gold owners and while you doing that you normalize and support digital currencies." Lol
Link?
Currency, by definition, is state-backed.
Bitcoin is a MoE without it needing to be a currency, and that's the reason why it helps separate the state from the money issuance.
I agree with your description. He was indeed saying that is not currency as you not buy things ("coffee" was used as example), so underrating the MoE quality of bitcoin. I strongly believe he is not favourable of lightning or ecash on bitcoin, and hence why never talks about that.
He can go piss against the wind, won't change how things evolve.
There's no room for centralization, even in day-to-day commerce. As long as one's bitcoin inflows are higher than its outflows, one can and will remain ahead.
A SoV narrative can't be taken seriously if there's no MoE quality that precedes it.
Idk if your time machine is broken but you're after El Salvador so this doesn't make sense
There are categorical differences between a state adopting bitcoin and a state issuing its own currency.
And?
And.., that sets bitcoin apart from traditional currencies.
Uptight about semantics much?
When your that deep into bitcoin like Saylor yes I understand that mindset we are so early any amount of bitcoin accumulated should be saved never spent at this TIME it’s only logical on the other half individual level it’s an easy form of currency easily able to purchase just about anything nowadays with bitcoin which is great to show the world the usability of bitcoin and a bitcoin lifestyle which is the future we are just not there yet for the masses
He doesn't see it use as Medium of Exchange, neither noe or ever. And he has his on incentives to say that and believe it.
Oh my god what the fuck how many typos in just one note.. sorry sir, I need a #coffee.
🤦♂️ I’ve also been having a day like this. Coffee cheers 💜🫂🫡
Like I said it’s early he will eventually have no choice but to use bitcoin to settle transactions we are just to early the mindset for today and until fiat blows up should be hold period… it’s not the same for individuals who may need to spend their bitcoin to make ends meet living on a bitcoin standard lifestyle.. Saylor is just playing the fiat BS game with stocks and bonds to accumulate as much as possible for his company which is genius early bird vibes we are so early a fraction of what the market cap is going to be YOY your ability to accumulate will decrease there’s a vary small chance you’ll be able to accumulate the same amount this year over the next best to just hold never sell anyway sorry for the rant all in all it’s just early mindset should be accumulated & hold as of today
Bitcoin is a Rorschach Test for where you are in your emerging ability to “see and hear” 🪬👁️💓🧬
Try and not judge others by where they are on their journey of “self” discovery. We will ALL end up in the same place eventually. As winding as that path may be 🙏🏻🧡😌
I see him misleading people with his words, his speeches are totally different from what he preached 2 yrs ago for example. Anyway you are right, it is a test, on multiple levels, and people should find on their own way what Bitcoin is, why it exists and how they will use it for their own interest and incentives.
Agreed 🎯
He has always done this to some extent. Changing his tune based on his audience and telling half truths to make his point.
The most telling thing he said a few months back to me was “when I used to walk into a board room to tell people about Bitcoin ‘the digital currency’ I would loose most of them before I even started. But now when I tell them about Bitcoin ‘the hardest/scarcist asset in cyberspace’ I get their attention right away.
I think he views his mission as “Overton Window Shifter” and realises that he can’t be as brash as he was in 2020-2023 about the whole new world Bitcoin facilitates. A world that (to me) won’t possible have nation states in their current over reaching form. If at all.
Just my 2 cents.
For more clarity, the half truths I was referring to above were often about gold being a horrible store of value historically. Which is categorically untrue.
And the reasons he would state were misleading. (Always needing to be melted down to verify, etc)
Bitcoin is/will be superior to gold in every way if it stays decentralised and secure, but it’s never saw the need to be disingenuous about gold to make his points. Struck me that he likely has deeply rooted self-reflection/honesty issues.
I recognised the signs since I have/had the same shadow blindside in my make-up.
If he's saying it's not a currency because the transaction fees are too high, he should use doggie coin or Monero