Operation Saylor - Episode 10/120

Hi again and welcome to another episode of the Operation Saylor. This is update number 10, corresponding to April 2023.

If you are reading this for first time, you might want to check Episode 1, where my plan and details are explained. That will get you in context.

Another month drops by, and we finally enter the phase of Operation Saylor when the bitcoin stack starts getting smaller. For the first time since this operation started, I have sold some sats to get euros back to put towards the installments. Specifically, I sold around 2.5M sats to buy myself enough € for a couple of installments.

I usually never sell bitcoin in exchange for euros. I never try to speculate with the shor-term swings of bitcoin's price, so whatever I buy, I just hold. So, reversing the flow feels nasty. Oh well, that's the plan, so let's just stick to it. I do spend bitcoin here and there directly for goods and services, but that never feels nasty at all. Quite the opposite, it feels great.

I have actually stumbled across many discussions on HODL vs Spend and replace during the past month. I must say I'm quite disappointed that there's any kind of debate. I am strongly in the camp that believes that spending bitcoin on goods and services is the right thing to do (assuming you have some way to replace the lost sats by exchanging fiat for them). It makes me sad to see people propose that we should only spend our fiat. I see a lot of ignorance and shortsighted thinking in that idea.

In my opinion, the true wealth that Bitcoin will bring to us won't be in the form of being valued at millions and gazillions of $. That might happen, indeed, but it's not the whole point of Bitcoin. The point of Bitcoin is to have a decentralized, permissionless, borderless, dilution-proof, interoperable open money. And why would we want to have such a money? So that truly free trade can happen. Trade across all the world without the intervention of regulators, governments and greedy middle-men that act no value and oppress free, working people. Peer to peer, untaxed and uncensored. Can you even picture how much value society would unlock if we stopped being taxed and regulated on every economic transaction we made? Have you ever ran the numbers on how much additional money would you have at the end of the year if not every tiny bit of your economic life had leeches sucking you dry?

It bothers me how people can even imagine that it's not in their best interest to start spending their bitcoin in trade. We need to create a decentralized, permissionless, borderless, dilutionproof, interoperable economy if we are to reap the true benefits of bitcoin. How are we going to enjoy our stacks in the future if there is literally nothing that can be bought with it? What will you do if authoritarian CBDCs are deployed at the speed of light, and all on and off ramps between Fiat and Bitcoin get shut? I hope there is a strong free market (black, as it's usually called) by then, because otherwise, I'm genuinely scared that we might be fucked.

If you are reading, I challenge you: this month, find somewhere where you can spend some sats and do it. It doesn't have to be anything important or expensive. Just make sure it's truly peer to peer. Pay somebody straight for him to provide something straight to you.

Thank you for reading and see you around next month.