Its not what they're doing now, its an exercise in finding the market tolerance for a risk.
The remedy is they disburse their holdings to holders of mstr because if btc is money, then having the money should be preferable to a stock that represents the money. Short of that, the danger is that btc can't be used as money.
The danger isn't binary - the usability of bitcoin is endangered by it not circulating, which is a progressive danger. My original question was, at what percentage of total btc do we start to see mstr as deleterious to the economy of btc? But the same question leads into the values we champion as bitcoiners. There is some point where mstr's and the etfs' accumulation makes btc unusable for p2p money. Maybe its 100℅. But I think it's less. How do we find the limit?
I'm asking an economics question. I am unfortunately not that great at providing answers to my questions.
Would there be a market for #nodes and #miners to be packaged together in a single unit?
If running a pruned node, how #minimalist can you make the hardware?
Why not make these things as cheap as possible and package them into everything? Or make tiny miners that have nodes that turn on and connect automatically when you press the On button? Tiny miner nodes could become like poker chips - you increase the hash power you control by accumulating a secondary money, which is defined by the portability of hash power. You could just throw them in a bag and they all connect into a single pool.
Just some thoughts. Probably dumb thoughts. Idk.
#Bitcoin #mining
Oh yeah, I had forgotten about that. When I tried using it, it just killed my internet entirely. I have no idea why, but my phone refused to connect to the WiFi
What are they doing to slow him down?
His friend told him you had food
I don't assuage my fears. It amplifies them. You're a smart dude, I already know that. If you can't see the scenario that could play out, then the scenario is even more likely because others also won't see the danger.
I'm not okay with living in a world where everything is owned by mstr. Or 10 mstr-equivalent entities. Bitcoin ownership must be sovereign and unencumbered at the lowest level.
Stop being naive, #bitcoin -ers. Don't you know we're in a war? You think we're the only ones who have ever thought of using a "sly and roundabout way"?
If he isn't a state operative now, he will be when they sit him down for a conversation. He won't have a choice.
See other relies ; I want to respond, but my finger's stamina has limits.
No, that would be good for us. There are two attacks - 1 is an attack on our values, the other is an attack on the currency aspect of btc.
We value freedom. Political freedom and economic freedom are closely linked. Economic freedom is far more pressing to most people. Most people have no btc savings. We could succeed in making btc the work currency but fail completely at rebuilding economic empowerment. If these funds become banks that never sell except to make loans, then all btc flows back to banks. They effectively own the world.
If they remain only funds and people speculate on dollar prices, fiat wins. All btc disappears into these black holes. We become rich, but we failed the world. Btc will be a settlement mechanism but not a currency. No one will care, node runners will quit, all nodes will be run by governments or etf companies, and they'll choose a ruleset to their liking. We get a CBDC. Humanity is enslaved... We're already enslaved, so I guess that's the point where we go full socialist and exterminate the leftover people.
There's only one way to get what we want, broadly speaking - we have to get the funds to pay out the btc. They can't be black holes.
I am not the entire economy. I also am not concerned only with myself. I want to be free, and I want everyone else to be free too.
How free are you when you must make payments to a bank? How free are you when one entity has practically infinite buying power while yours is finite?
If the BTC held by mstr and these funds never circulates, but instead only accumulates into a few pools, then btc can only be a reserve asset. It does nothing to empower people.
The finite supply is a genius mechanism to disperse it over time to smaller and smaller utxos. But that doesn't happen if you can pay your bills in fiat. These funds pay salaries in USD. They raise more btc with USD. They never use their btc. It never leaves them.
Right now you can just go buy btc on an exchange. Do you think that will always be possible? I don't. Where's the bitcoin economy when you can't buy btc and you can't work for it because its all held by entities that never sell?
This isn't a problem that we can resolve by simply buying things with btc. That just makes our savings available for mstr or etfs to lock away. When it's all locked away, what's left? Fiat. We'll just be back to fiat.
Or we'll have new masters that are even worse than the previous ones.
Extremes illustrate the point. What does the world look like if they own 99% of the btc, while the remaining 1% is transacted and used as currency?
The more btc they hold, the easier it is for them to raise the USD to acquire even more. This is only shorting the dollar if everyone else does it. If not, then we get a world where one or a few entities hold all of the power. You may be set up for life because of your savings, but the economy is the billions of transactions every day, the person with no savings asking for a loan to start a business, and then making payments on that loan. If MSTR becomes a bank, all btc flows back to MSTR. They effectively become the government. How is that better than the current world?
Too much hinges on the goodwill of one guy. And he could have perfectly good intentions and still represent an attack on #bitcoin if mstr acquires enough btc.
Unless everyone doing business with MicroStrategy demands payment in #bitcoin , MicroStrategy will effectively be an attack on bitcoin. What do they even buy? Will that bitcoin ever be circulated as money? How?
Michael Saylor is an agent of the state, attacking bitcoin. Prove me wrong.
Okay, second day trying this. I think it's better to separate it out into two different exercises. Better form by concentrating on one movement. Also the floor to ceiling lift is better when the starting position has the weight by the foot opposite of the hand - so pulling across your torso.
At what point do we start to say MicroStrategy's #bitcoin holdings constitute a systemic risk to the bitcoin economy?
50% of all the bitcoin?... 10%?
Are we okay with one mega company dominating the entire world? What does that say about our values?
Are we okay with anyone wanting to start a business going to MicroStrategy for a loan?
New startup, will utilize AI to bring diversity and empowerment to toenail clippers.
First seed round is ready for applications - send zaps for Proof of VC.
First 1 million AI Toenail clippers will come with fair value Bitcoin logo. No actual bitcoin included. -50% will be donated to NGOs that pretend to dig wells for poor Africans. Yes, that's a negative - fulfilling the promise of web3, empowering the world of me.
All AI toenail clippers work by syncing to a virtual blockchain that's so advanced, no actual nodes are required. Its an advanced AI powered simulation.
Actual clippers not included.
#blockchain #crypto #crapto