"Bitcoin isn't Money"
In his first meeting with the SEC's Crypto Task Force, Michael Saylor proposes a regulatory framework that mainly benefits Michael Saylor.
Full Story:
Discussion
The leveraged equity standard!
And dumbass is still simp for him like he's Bitcoin Jesus.
I loved listen to Michael Saylor but he had always been anti-Bitcoin currency which is the opposite of the intention of Bitcoin.
I think he just wants to capture it and use it for a vehicle to send value like Western Union.
You can now connect with me privately on simpieX Chat with the link below š, I have something essential to share with you..
BITCOIN IS A CURRENCY
IT COMPETES WITH FIAT
THIS IS DOUBLESPEAK
WE DON'T NEED THEM
Bitcoin is money. We zap people all day long on Nostr.
... And technically, if I understand correct, each and every "zap" is a taxable event for those within the "land of the free"?
IDK whether Bitcoin should be considered a currency or commodity, but whatever reform allows this dumb-ass legal regime to sunset, I'm all for it.
Anticipate the signs: Embrace your principles and forget the heroes!
š š„ š„ š š š„ š„ š
Heās not stupid. Heās latching onto the investment asset narrative of bitcoin as a trojan horse. No government would approve of giving up the monopoly of money.
when someone tells you who they are
believe them.
That's exactly right. Strategy is going to create new legal frameworks and banking products for insurance, loans, and earn yield.
nostr:note16xzc2xgt6cfsecaq5lcr443z4gm9p39mpttt4hp9muu5725jz7fsh6fpjp
To me, it's Bitcoin backed financial and insurance products, and likely loans, financing options, and so on.
Just because Bitcoin has a fixed supply, doesn't mean you can't make money from other people with your own Bitcoin.
It could be in the form of liquidity moves, ie: someone needs some quick Bitcoin to cover a trade or whatever, boom, Strategy has you covered.
He said never sell, he didn't say anything about never monetize or loan it.
yay
regulatory capture ftw
here is a graphic to understand yield
šā”š ā”š©š©
Cope
Agree with this take, far from cope. If his proposal is accepted, the only thing that needs to change in the future for btc to be used as currency is a tax policy change. Itās easy to imagine this in 20-30 years. But you go in demanding it be a currency now, all of a sudden itās a competitor to the $ and guns come out like we are Iraq trying to sell oil in Euros. Itās the smart play even if it seems like a sell out short term.
This is what I was thinking. Itās possible that it is cope and he could be setting bitcoin back but I donāt them accepting it as a currency anyway
You can now connect with me privately on simpieX Chat with the link below š , I have something essential to share with you
Thanks for the feedback,You can now connect with me privately on simpieX Chat with the link below š
ābitcoin is trustless/permissionless and freedom money, but i get bent out of shape is someone does something with their bitcoin i donāt like, agree with, or understand.ā
unfortunate state of many
bitcoin doesnāt need saylor or his detractors.
nostr:note1lkjggkcc9hd4rg3sy7jmf4jr0nx7l8ajv4q6j5u7m0ksc3htl9jqa2ut92
Heās trying to maximise before Fiat dies
Thoughts nostr:nprofile1qqsqfjg4mth7uwp307nng3z2em3ep2pxnljczzezg8j7dhf58ha7ejgeyqy52 please - on nostr:nprofile1qqs879mhq6kkuzh2wk57xdzanl76uem8d7hlyjd7v4a4jcm4u88d8yg2zkr2f
Itās all bad
As if I am surprised.
His play is clearly to stockpile and earn yield with it by new products, loans, insurance products, etc ...
Letās talk now, I have something essential to share with you.. you can now connect with me privately on simpieX Chat with the link below š
I don't like the real you, nevermind the scammer you.
Don't spook the dinosaurs is what I always say.
he seems to be high jacking btc big time. he wants to corrupt it. am I misunderstanding ?
Letās talk now, I have something essential to share with you.. you can now connect with me privately on simpieX Chat with the link below š
Best of both worlds, categories #bitcoin to regulators in our favor and leverage #bitcoin as peer to peer cash š¤š¤š¤
Bitcoin is not currency as defined by fiat system. Commodity status is advantageous to us - if you don't want every miner and ln node become money transmitter with banking license.
Anyone who claims Michael Saylor is a homosexual is a compromised asset and PODCONF Disapproved ā.
We will immediately add those bad faith actors to approval lists.
For the record Michael Saylor is not gay.
An electronic Manhattan granite
who is he anyway?
shameful that they continue to venerate him
Laws will never change what Bitcoin truly is.
This is nothing more than semantic. Some people often act as if Saylor, Blackrock and others are 'changing' Bitcoin.
Nothing is changed.
He didn't say it's not money. He said it's not currency. There's a difference. Money is an asset that has no consumptive use, and is used to give FINAL settlement for commodity or service purchases. Currency is a coupon good for the redemption of money. Read my Article on this to understand the distinction.
nostr:naddr1qqgrwwpevs6kgwphxa3ngd35x4jrqqghwaehxw309a3xjarrda5kuetj9eek7cmfv9kz7q3qm50e65pv09ga73lglrkjgh5tlgj006pv9rce8xdg7rn5kps38gssxpqqqp65wzjuk8a
Wrong. Bitcoin is money, currency and a payment network all in one. There was no such thing in human history prior to this invention. The most advanced monetary technology up to this point was gold as money, the dollar as a currency and the SWIFT as a payment network. Bitcoin serves all three functions. Stop simping for Saylor, heās playing his own game and heās doing more harm than good at this point.
Wrong, currency can not be final settlement that's why there are two different words. There is no distinction between a "network" and a market so that was just pulled out of your ass (especially since gold has nothing to do with swift). Study money, and get back to me. Bitcoin is money, Lightning is A currency. The "network" is your own fabrication. Bitcoin is information and as such its mode of existence is in a ledger.
Thereās an ungodly amount of nonsense to unpack here. What do you think FedWire settles with? USD, a currency. What unit does the Fed use to maintain its ledger? USD, a currency. A currency is a denominator, not a certificate of ownership you muppet, thatās called a banknote. Visa and Mastercard are payment networks, not marketsāholy shit, lol. And yeah, Gold has nothing to do with SWIFT, but under the fiat standard, dollars are supposedly āas good as gold.ā Setting aside that statist heuristic fallacy, Lightning isnāt a currency because you donāt settle Lightning on-chaināyou settle Bitcoin locked in escrow. The denominatorāthe currencyāis still Bitcoin. Bitcoin is simultaneously money and currency on-chain. The base layer is a monetary system (a network for transaction settlement), and so is Lightning, although they have different properties. The fact that youāre trying to lecture me on money while spouting this clown-tier nonsense is hilarious.
You probably skimmed one retarded book on moneyāprobably some Keynesian drivel or Lyn Aldenās half-baked takesāparroting that āmoney is a ledgerā nonsense with zero citations from Mises, Rothbard, or anyone who actually understands the subject. If money is just a āledger,ā then what is the unit the ledger is kept in? Whatās being accounted for? A ledger isnāt money; itās just a record of debts and credits. The money is the unit it tracks, and if you donāt get that, youāre already lost.
Guy, Currency is BACKED BY A MONETARY ASSET. What is USD backed by, genius? Either you can't read or can't follow a logical train of thought more than a few ties. USD is a fiat asset after 1971. It is a terrible money, but more importantly its nature is muttled by its expansion by digital equivalence. A physical dollar is the asset, the numbers on a bank ledger are not always the asset and are the currency coupon of the USD asset. Hilarious that you think you have any idea about what you are speaking.
As for the ledger, bitcoin is in and of itself information on a ledger. The ownership of that encrypted information is locked behind cryptographic keys. I didn't say money is a ledger, I said bitcoin is information on a ledger. Dollars are a fiat asset. Digital dollars are currency on a ledger. And you have no clue what you are talking about.
Alright, letās get something straight: Your whole game about ācurrency is backed by a monetary assetā is a classic display of half-assed ideology, and itās not even historically accurate (because there were many instances of unbacked currencies in circulation in the past - including ones redeemable for taxes, church properties or not redeemable at all). The USD isnāt backed by some hidden assetāitās fiat, a government-issued promise. It may be a garbage currency, but still a currency. Arguing otherwise is denying the wordās meaning. Claiming that a physical dollar is the asset while the ledger is merely a ācouponā is a retarded oversimplification of monetary systems. You have kindergarten level understanding of money and knowledge of its history, and it shows. I suggest you stop embarrassing yourself further and maybe pick a Mises book or something to fill your blanks.
Again, you can't read so, I won't waste any more time here. Any questions just read what I already wrote. Those "currencies" you are referring to are not currencies, they would be called money. Anything that can be used non-consumptively as a trade settlement is money. In no case was there a currency that WAS a final settlement. Gold coins for instance are not currency, they are literally a monetary asset.
Physical USD is a fiat asset. Assets ARE the backing. Digital USD is not an asset it is a coupon redeemable for the asset (physical dollars).
You can try to insult all you want, you are wrong and might be the dumbest entity I've had the misfortune of responding to.
You making up things on the go donāt make you right. Itās not a problem of reading and understanding. Youāre simply delusional. Muting you now, since this has been a waste of my time.
He is about to become a villain
Claiming that Saylor distinguishing Bitcoin from other digital currencies āredefines Bitcoin as a mere investment assetā is a straw man, at best and intellectually disingenuous, at worst.
Bitcoin IS a commodity without an issuer backed by digital power and shitcoins are assets with issuers backed by fiat currency (nothing). Thatās not a debate.
I notice thereās a sect of Bitcoiners who possess the same allegiance to Satoshiās writings as the BSVers do. Clinging to a specific group of words while ignoring the subsequent evolution of Bitcoin thereafter is, frankly, intellectually shallow and is akin to the way religious fundamentalists approach their arguments.
I am by no means suggesting that I have this figured out, but I do consider 2 points that make me optimistic about Saylorās efforts:
1. If the guy who invented the pottery wheel wrote a whitepaper, he would have defined it as something meant to be used for spinning pottery. If that guy eventually decided to āmove onto other thingsā and someone turned that wheel right side up and attached an axle, barrow and two handles to it started selling wheelbarrows - thatās a good thing. (This point is more for argumentās sake.)
2. Itās obvious to me that Satoshi had an understanding of money that rivaled anyoneās. Surely he agreed with Hayek in that the only way to have good money again would be to take it out of the hands of government and introduce it in a sly, roundabout way. A āpeer to peer electronic cash systemā seems like a sly, roundabout way to introduce sound money to the world.
Saylor has also read Hayek. And has also likely gathered Satoshiās attempt at a sly, roundabout way. And now - quite possibly - is infiltrating Bitcoin into the world of traditional finance in a sly, roundabout way through his company. If that is indeed his plan, then everything heās done so far checks out.
Bitcoin is a benevolent virus and if the government wants to attempt to regulate censorship-resistant money while integrating it within their system - let them. If Bitcoin is captured by the state then it was never good enough to become sound money. But if it is good enough - which I believe it is - this integration with traditional finance will only accelerate its adoption along with fiatās collapse.
Cash
Letās talk now, I have something essential to share with you.. you can now connect with me privately on simpieX Chat with the link below š
Bitcoin will be around long after Saylor is gone.
Saylor has always been the usual greed based statist. He doesn't give a shit why we're all here, why we've been at this for far longer, and why we will outlast his degeneracey. He is pure noise.
We've got one chance to fix the money. Maybe it won't fix the world outright, but it's the next best thing many of us can work on.
Iām trying to create a basic , repeatable, first principles, laymanās definition of Bitcoin. Solely describing its design. Is this it? Would love some constructive feedback.
Bitcoin is digital money open to all, controlled by no one. It runs on fixed rules written in code, and its transaction history canāt be changed because the network secures it with computing power. It works because people work together to follow and uphold its rules.
Saylor wil fail
Bitcoin is the peopleās money
Satoshi was too smart for guys like Saylor
Saylor advocates treating Bitcoin as a commodity with minimal, innovation-friendly regulation, while altcoins should be strictly monitored and regulated as securities to protect investors and prevent market abuse. This stance demonstrates his "Bitcoin maximalism," where he sees Bitcoin as the superior cryptocurrency.
Letās talk now, I have something essential to share with you.. you can now connect with me privately on simpieX Chat with the link below š
Bitcoin isnāt money - https://medium.com/@beautyon_/no-bitcoin-is-not-money-it-is-a-database-3614a774833
Okay, and you really think his narrative of digital gold, digital commodity won't benefit the people that want to use Bitcoin as money?
Saylor is fundamental for institutional Bitcoin adoption, truly one of the great things that could've happened to Bitcoin.
But I get the model. Controversy wins, you have to be controversial to gather attention.
Letās talk now, I have something essential to share with you.. you can now connect with me privately on simpieX Chat with the link below š
I suppose thatās whatās one starting point š
Letās talk now, I have something essential to share with you.. you can now connect with me privately on simpieX Chat with the link below š
Iāll consider it if you zap me
Bitcoin doesn't need "regulatory framework", this is such a statist fiat mindset lol. People will use Bitcoin the way they want regardless of what regulations you (try)put on it.
Bitcoin nĆ£o dinheiro e os desenvolvedores do BTC nĆ£o desejam que ele seja dinheiro para poderem vender soluƧƵes de segunda camada cara e sem auto custĆ³dia para os incautos.
What a tremendous tit he is
Posted about this a while ago: nostr:note1tmm67hcgtaxu2tr80htcv6uplnq9sx46u0dsspjz4w6gcxyd638qykppds
You want to look through his āred waveā presentation at Cantor Fitzgerald just after Trump won - thatās the elaborated version.
Suddenly $TRUMP makes a lot more sense when you realise Saylor has been backgrounding this for ages as a long time family friend of the Trumps: nostr:note1t366hd2ytlt2g88d6qqztu75fs9uax5rnxgg6davedlpfcu22svshsaxr3
Michael Saylor afirmou na JustiƧa americana que o Bitcoin nĆ£o Ć© uma moeda, mas um ativo de investimento, contradizendo Satoshi Nakamoto, que, no artigo de lanƧamento do BTC, descreveu-o como uma moeda descentralizada par a par. Isso destaca minha paixĆ£o pela liberdade econĆ“mica: enquanto o Bitcoin tomou rumos complexos, o Nano busca ser uma moeda descentralizada verdadeira, focada em transaƧƵes par a par.
All the Bitcoin news and price action can get exhausting lol.
Lots of FUD and technical analysts bullish two weeks ago calling for the bear market.
If it truly is a bear market.
I suggest walking away and let things unfold as they may.