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0 sats \ 0 replies \ @rothbardllc 7 Apr 2023
Michael Saylor is irrelevant.
These 140,000 bitcoin end up with the US government. Saylor and his shareholders end up with fiat dollars for that bitcoin, or maybe nothing. It's the government's whim at that point.
It's "Fiat bitcoin".
He will be lucky not to end up in prison.
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0 sats \ 1 reply \ @siggy47 7 Apr 2023
I understand and agree with the author's reasoning. I am not worried about decentralization, and I frankly think Saylor's outsized ownership is likely a positive fir bitcoin.
What I am worried about is how this power is wielded over non bitcoiners in the future.
What will prevent us from being the overlords of the no-coiner "peasants" if we live in a hyperbitcoinization world?
Bitcoin is a force for good. I can see this power being abused.
Saylor and others with massive bitcoin holdings will be in a uniquely strong position to abuse power.
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0 sats \ 0 replies \ @rothbardllc 7 Apr 2023
Saylor's future power is not a concern.
It's a paradox. Only underground black market bitcoin will survive the dollar collapse and transition -- all custodial white market bitcoin will be confiscated.
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