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1220 sats \ 6 replies \ @w3irdrobot 14 Mar \ on: MicroStrategy’s Speculative Attack bitcoin
i think the most efficient way might honestly be the direction it seems our governments are heading now. bitcoin historically has a usability problem. things have gotten much better very fast, but there is still alot of work to be done in that regard. most of the limitations are technological even if they are for good reasons. people tend to gravitate toward easier solutions; things that make their life simpler or more convenient.
if it was me, i would accelerate an easier to use alternative and integrate it into our daily lives. most would say something like a CBDC which makes alot of sense. however, with twitter being so integral to many peoples' lives and this seems to be increasing and we already have contacts over there to help, i'd try to make this application that already has a giant network effect into an everything app. you can make payments super easy through it. just connect your bank account, like venmo, and boom! businesses can easily receive payments through it. integrate a pos system like square and bam! even better if we can then get people to pay for the privilege of this convenience.
why use bitcoin when i can easily send my favorite creator tips in a currency i already understand through an app i already have that makes it quick and painless?
now i think we are on to something, but in an effort to minimize the headache of telling people where to find you, we should give it a super short name. something single letter but cool. maybe Q or Z? we can come up with something later, but i think this would work well.
interesting idea, not sure if i agree here though:
why use bitcoin when i can easily send my favorite creator tips in a currency i already understand through an app i already have that makes it quick and painless?
MicroStrategy isn’t buying a bunch of Bitcoin so they can send it to creators, they’re buying it to hold it… how does a CBDC slow down their Bitcoin purchases?
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the idea isn't to slow their purchase. the idea is to make buying bitcoin as a speculative asset a bad investment. microstrategy is buying to sell later, more than likely. i'm not convinced of saylor's intentions to buy and use it later. meaning he's depending on there being a market for it later. shrink the interest in that market, and they stop buying because they can't sell in the future.
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you're probably right. billionaire CEOs of corporations unaffiliated with what they are shilling are well-known for truth telling.
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lots could happen. buying up so much can be seen as manipulation of the price. pumps the price which causes others to hop on. do it for long enough then dump. owning so much gives alot of power if bitcoin ever does become an accepted currency in a place like the states. becoming a bank is interesting. also comes with alot of power.
regardless of what happens, my trust isn't earned by buying up so much of an asset, holding it, and giving back nothing in return outside of empty platitudes such as "there is no second best." i'm not saying he has to give back anything. however, i also don't have to trust his spoken intentions with no actions behind them.
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