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Crony capitalists, you mean.
I hope Venezuela actually has 600k Bitcoin and it cannot be seized.
Governments want to elevate their power, not bad industrialists. Bad industrialists happen when government prints money.
I agree but my point is this idea of dumping to switch to a new money is an idea from this world of fiat. It doesn't reflect positive monetary innovation.
So dump Venezuelan cash for USD to Dump USD for BTC but why were you holding the inferior money in the first place?
Saylor is now giving people a chance to hold his company's cash and not Bitcoin.
Wonder when they'll dump it for BTC, when Bitcoin has advanced even more and catching up is so hard? I guess.
That's why in the OP I wondered out loud when we shall have a true Bitcoin company.
FYI, they're all doing this now. XXL, Gemini, its the game.
Strategy is just the fearless leader at the head of this run.
Oh well, I guess it's the nature of the times.
It will be fun, at the very least. Adrenaline pumping.
No boredom in store.
Of course, right now, it would signal that Bitcoin is better so maybe people would have the sense to stash Bitcoin instead.
However, if Saylor has paved the way (he is literally thinking of crearing a currency. Go to timestamp 31:30
) and other governments follow suit, it will be a nice way to phase shift and capture the Bitcoin hodler narrative while fiat remains currency.
I guess at that point we'd be toast, not the US government.
What if silver was adopted to stop the Bankers from debasing savings with their bank fiat currency, how is hoarding silver so you can use the debasing currency any solution to the problem?
It's literal self-enslavement in some sort of deferred life hypothesis.
The silver is not the wealth indicator. It's roads, hospitals, railways, more happy marriages, more children, going back to the moon, etc and these cannot happen if you remain on a fiat currency standard even if you worship your silver hoard for that "eventual liberation" when it is "high enough".
Interestingly though, by printing up STRK, STRC, etc Saylor is making the debt market grow faster than Bitcoin.
And what if governmensmts start offering bonds in exchange for Bitcoin? Who tells Saylor he has a monopoly on his evil genius plan?
Basically It all comes crashing down. Probably faster than 40 years as @035736735e said which will be a relief.
It's a self-defeating idea.
Thanks for the data. If a generation is taken at 20 years then that's 40 years.
Jesus.
That's a long time.
"Fiat systems can extend themselves for decades if there is enough confidence and if the public accepts gradual erosion as the price of stability."
So true. Sad too as we're all very distracted right now with nice video reels while the best products and services + mutual social connection get further out of reach of the average person.
I hope he is so he can try to answer for when his shenanigans will end.
I want to know his actual plan, the one grounded in real engineering principles and not that rocket engine I saw (looked cool, but I'm not here for fads). Don't give two sats for his private thoughts.
What is he selling the investors anyway? Really? Multisig on the coins?
To what end? Hodl to the 4th generation?
I want some real hope and I cant bear to watch any more of "you will be paid forever better than people with jobs because we bought Bitcoin with your investment".
"Also, Bitcoin is not money/currency"
He actually believes this. I wonder why. Are we on different planes of thought right now?
Or does he think humans love 1s and 0s that much?
What's interesting is that the Fiat Bankers fighting him are also his partners
This might be some staged shit to get the coin cheap so that Strategy can buy even more.
Which if true, I hope Saylor will still have a soul after all this is through.
Coz this is one shady way to drive adoption.
Drive us all to a cliff fast and toss us into the great fiat depression that follows.
Do they know about Machiavelli?
https://youtu.be/l21HUb4uunM?si=VpWkxzSKUqzd3Du-
I got to say though, if Bitcoin is decreed as the standard this can only be a benefit to humanity.
It's like decreeing honest hard work as a standard.
I'd say we go for it.
The US needs to keep leveraging its intellectual capital (not dollar hegemony) to remain the leader in cyberspace and internet marketing and entertainment so that in case of a war, it has more allies than China.
Having more weapons might seem like a winning move but if one has no true allies, they lose.
Ref: The defeat of the well stocked Nazi army.
People fight wars, not guns and weapons. Not even an army of drones I'll argue (they can be hacked).
China has no interest in fighting the USA and the problem is America's debt problem. Seems like there'll be a lot of trade wars on the road to $1 quadrillion in debt. After which point people will maybe realize this is all crazy and they will stop chasing the high of debt cocaine. Maybe we will go back to being religious and to looking to the stars, and to having kids and not not bothering with overpriced fiat school when trade skills are everywhere.
Thanks for this @Scoresby.
Indeed the market isn't moving much with Saylor’s buys, because perhaps a lot of OG Bitcoiners are dumping Bitcoin to, say, get lobby positions in the dollar economy.
So while some see this as a time to dump dollars for BTC, some might see the current pro-Bitcoin administration as a chance to dump major BTC reserves so as to play the now favorable political game to Bitcoiners and earn from leverage (Saylor’s talking points are actually very pro-dollar. I could swear he is also on the other end of the trade, in which case, there you go).
I think we need to run for a while on this pro-Bitcoin administration and let OGs dump all they can to get on TV and sell all these treasury/couch-profits promises and whatnot, then we shall see dollar dumps as a true dollar dumps.
At some point, Washington will turn quite anti-BTC. Its in the nature of the BTC to not roll along with dollars.
The real competitive game between these two currencies can only be delayed, but not kept off the table.
Didn't understand well what you said about hoarding, but I think you meant that even the idea of hoarding doesn't work as strongly as promoting usage of Bitcoin directly for commerce (not via USDT. An easy habit to pick up given how used we are to fiat money. I mean, it was what we held first as babies.).
Which I agree with.
Because if the hoarded property is not being used, less people are thinking of it and in fact, over time, people like Saylor might be inadvertently moving Bitcoin out of the public consciousness where average folk who simply want their windows PC and excel spreadsheet get to find Bitcoin even more far removed from day to day commerce hence who cares what it is.
Some people may start thinking a Bitcoin is like shares in premium Real Estate and not money.
We need to fight this.
Ad:
This is why I've started https://bitcoinhighschool.com where we learn about Bitcoin and use Bitcoin to do learning.
I'm calling on ya'll to try out the quizzes and give me feedback.
Will be rolling out sats to whoever gets even one answer correct so stay tuned.
More features up ahead. Hopefully, Ill get big enough to ask Scoresby to do guest lectures for my students. Your analyses are indeed a worthy educational experience.
Thanks again.