Bitcoin is money.
Bitcoin is a savings technology.
Of course privileged fiat millionaires want to have it only one way.
In a meeting with the Crypto Task Force, Michael Saylor proposes a regulatory framework that mainly benefits Michael Saylor.
Discussion
Just use it as money as often as possible, and let Saylor say whatever he wants. He's irrelevant, because he can't stop anyone using a peer-to-peer electronic cash system
He and other powerful economic actors are not irrelevant. They form public opinion, they influence regulation, they can try to influence developers.
He's irrelevant if I want to spend BTC. He can't stop me. Powerful politicians attempted to stop me taking payments from Russian citizens, and they failed miserably, thanks to the mighty BTC, which is not under their (or Saylor's) control. That's precisely why I love BTC
they absolutely CAN create a regulatory environment where people are unwilling to transact p2p because they fear repercussions
CAN in capital letters looks big, but is it convincing? Please explain what regulations you are concerned about. I advise you to sell your Bitcoin if you believe what you have written, because if powerful actors CAN control it, they WILL. Personally, I see that Bitcoin is more powerful than Michael Saylor, or Keir Starmer, or Donald Trump, or Vladimir Putin. These people are just men. They are not ubermensch.
people ALREADY dont use Bitcoin for transactions because capital gains reporting requirements are prohibitive.
you legit think if self custody requires KYC and proof of funds to actually spend
its not a problem for sovereign p2p use?
How come this n00b gets to say what goes down?
Let DC believe bitcoin is not a currency
OwnInG LotS oF bITcoIn dOeSnt GIvE yOU mORe cOntRoL oVEr It
I kNoW. MaYBE You LiSTEN to My TAlk to UNdErSTaND What I meAN: https://youtu.be/mWx8F5zTmW8?si=YHxFlttkvpaQbKvw
I don't see how this would control bitcoin in any way
thats because people dont believe that
the environment Bitcoin operates in
has any effect on the people who use it.
it does. things do not exist in a vacuum, no man is an island...
etc
I don't disagree, but ultimately this kind of thing will have the most profound effect on wall street. Slightly less so on your average American, and far less so on the other 97% or whatever of the world's population. That said, the US obviously has a strong cultural influence, but I just don't think that will make much of a mark on bitcoin as a whole
Money is an “Emergent phenomenon” if he decrees what Bitcoin is, does that just makes it fiat bitcoin?
When Bitcoin thrives, *everyone* can save.
When fiat thrives, only the 1% play the game.
But sure, let’s trust the guy with a BTC-shaped agenda. #DecentralizeEverything