imagine accumulating that much and losing it all by trusting third parties… there’s a high probability this will happen. It has happened before and it will happen again. nostr:note19gl5cgufxrtsq5wjau7qm3snu4k8d7py85u585rrtepvq8zpclvs0fcx9a
Discussion
no doubt about this
specially when governments get involved 😂
Bitcoin is black market money at the end of the day, its entire point is to resist the state. Voskuil explains this well in cryptoeconomics. Failure to recognize this will be his downfall.
Then Bitcoin is dead, forever.
You telling me I should trust some random anon on the internet more with his crappy code then institutions that banked countless generations of mine?
Not gonna happen.
How are these institutions fairing exactly?
My bank does their thing very well. If you don't have a bank that does their job well itmis a you problem not them.
Sorry to break it to you but the entire banking system consists of fictional reserve institutions just waiting to implode at any moment. But i guess thats easy to overlook if you’re on their payroll.
I'm not. Never worked for a bank, never will (because they have boring ass software in old code)
That's the whole point, man.
Don't trust anyone, have your own keys, and your property will be secured by mathematics.
More and more I think that is the smartest thing to tell anyone to enable 5$ wrench attacks far and wide
Is this your best argument agains self custody??
Nvm boy, keep your fiat in the bank.
You deserve it.
I do self custody, have a multisig and verify my downloads.
But tell me how many people are able to do that? I doubt it is the average person, probably not even 10% are capable to have a secure system and should have the option to have a trusted entity that helps.
Banks could be that entity, the small regional ones. Not the international asset managers of course
No point arguing with the guy... in his latest note he says not paying taxes makes you a parasite 🤡. He's NGMI.
How dumb you think people are?
The whole idea of decentralization is to eliminate third party risk.
“Trusted entities” lol
You need to study some history pal.
yeah I think the best point he made is that we aren't currently on a Bitcoin standard. what does he think the gov will try to do once on a Bitcoin standard?
Unimaginable
Thing is no matter what he is saying MST absolutely self custodies.
He ain't an idiot, he is singing their song so he stays alive.
"the first rule about the fight club..." :-)
What else did you expect him to say? F the govt? lol He is running a public company, he needs to obey or else...
Pfffft. lol.
Fud
Much lower than an individual fucking up self custody. How many coins has Coinbase lost? How many will they lose in the next 20 years?
Fidelity is not FTX
Saylor is entering the valley of disallusionment. It's a natural process on the bitcoin journey.
Was just talking about this at dinner last night
That’s exactly what they want to happen. Once it’s lost, it could be gone forever.
That interview feels a little weird. Don’t you think? Who else felt that?
I had a different thought when I watched this. My thought was Saylor is playing 3D chess he has a mission and a platform to influence politicians and wall street. To achieve mass adoption he wants to see governments quickly becoming pro BTC and to accomplish this having the banks on board makes that much faster and easier. Path of least resistance. Once people have exposure even if it is in a bank then you are only one step away from self custody.