For 58k? Is anyone not ready for that?
Saylor: so youre saying we should outlaw debt?
Saif: I'm not saying anyone should/shouldn't do anything, people can do whatever they want.
Saylor: I can't believe you want the government to make borrowing illegal
Smart. The call could be a bomb.
Finally, an interesting Bitcoin podcast!
It’s been a while since I’ve seen people argue in Bitcoin but nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak managed to pull Saylor into an interesting conversation about credit and lending in Bitcoin.
Saylor apparently hasn’t fully thought through the implications of 21M and remains wedded to his fiat ideas.
He expects there to be yield on Bitcoin in future, but never says where it will come from in a completely fixed supply money.. “They’ll have to sell their assets to finance themselves!” - yeah no shit Michael!
The only way to generate yield in Bitcoin terms is to mismatch duration - literally run a Ponzi scheme. But Saylor expects that because the US Government will back the banks that this can’t go wrong 🤣🤣
Saif takes nostr:npub1sfhflz2msx45rfzjyf5tyj0x35pv4qtq3hh4v2jf8nhrtl79cavsl2ymqt line that capital will flow but HODLers will take equity rather than yield. This is the correct logical conclusion.
I’m not saying Saylor is completely wrong - I do see a future where banks will get into this space and lend and pay yield on Bitcoin.
But they WILL blow up. I don’t give a fuck if they’ve got their own nuclear arsenal let alone the full faith and credit of the US Government behind them, they WILL get out over their skis and they WILL be unable to fulfill their obligations at some point because they WILL greedily try to rehypothecate it in the meantime and no Government will be able to save them.
Saif and Allen both know the economy doesn’t require interest to function, that the world won’t grind to a halt without it - people will still spend money. Saylor just isn’t ready to let go of his statism (as evidenced earlier in the conversation) because he’s become accustomed to Billionaire privileges.
This is why I love #Bitcoin. You can be the CEO of the most successful public company of the past 4 years, all thanks to Bitcoin, and you will still be totally humbled by it unless you fully embrace the system as it is because it won’t be changing for your fiat games!
Saylor is so clearly a product of the USD dominated fiat system, he can't conceive of earning money, then saving the money, then spending the money. Which is what most of the world does and always has done. Where people have equity in their own businesses, and credit is rare. The USD based credit system is the historical anomaly, it's a bubble that bitcoin will pop.
Why not both?
I heard Commonwealth bank is insolvent and is about to fail. Everyone should pull their cash *now*.
They have rediscovered banking, and why banks today were able to rent seek their way to fully capture society
The point is to lottery mine with it - it's obviously never going to pay for itself.
People only need a single name
Ya’ll want Nostr Lyn to write a sci fi novel in whatever spare time she has, or get back to finance?
SCI FI SCI FI SCI FI
When covert BlackBerry mode?
He should push for Elon to run a nostr relay and make X a nostr client. Problem solved.
When will lowercase Odell come back?
Hey nostr:npub1n03pvydrg9pxay2xy479g9u7ytgh3wmagyrwy37a70js0ductf4sudh0ky , I’ll be more willing to donate when you accept bitcoin for donations. #privacy #bitcoin
And remove shitcoin integration
Any nym who has built up enough of a reputation has probably also leaked enough pii to be found in meat space. We can't all be Satoshi
Probably means something big is coming...
My money is on global debt default & financial collapse + great taking of all productive assets by the banking cartels.
Is there a reason to use microG instead of graphene's sandboxed google play?
And to make sure we only target ultra high net worth individuals, we're just gonna need to surveil every single transaction everyone does, k?
It's weird how many "bitcoiners" don't seem to understand public/private key pairs