I think is the "replacement" of Greg Foss :) One goes down, another one comes up...

I'm bullish on everything about bitcoin. If it doesn't do the world a great service, then it'll trend to a volatile minimalist state like the old testnet. As for impact, the Bitcoin experiment I feel will look like the American experiment. Anyone doubtful of bitcoin's forces beyond its ticker quote price doesn't understand it, hasn't developed a [healthy] relationship with it, and is a moonboi, and up to the present time, I define moonboi's as gambling junkies masquerading as investors who have gotten rekt by volatility at some point swapping it for a weaker money/asset, or just gotten lucky with the timing and passed it off to an audience as intelligence. I see a little bit of everything happening in this exchange:

Does bitcoin save the world? Every bitcoiner goes back and forth on this question wether they admit it or not. The rabbit hole is deep man. How deep and hypothetical do we go? Regardless, the world needs adjustments, some rebuilds, and people willing to make sacrifices. Today my feeling is below, but always ready to re-visit my worldview:

I really dug this -- first different btc take that I've heard in a while, and I suspect that he's right -- the worldview he has is a lot more numerous in the world than what we hear in the btc ecosystem. Lots of really good points and an interesting perspective.

I've listened to 1 pod of him and a few clips, I think he discounts the ability to rug a custodian, the temptation to do it, and the adversarial climate that will surround something like a big ass concentration of Bitcoin in one place

Wall Street and tradFI will experience their rugging event, of that I am sure, no time frame on it but I can't see how a large concentration of pooled bitcoin doesn't get rugged, all you need is one disgruntled employee, one slip-up, one mistaken download of software and it can all go tits up.

Especially since all the funds are not cold, some have to be hot and interaction between hot and cold only open up risk, if exchanges can't safely hold on to Bitcoin, why would a product built on exchanges be able to do it?

Well his view is the Wall Street view....I mean Larry Fink undoubtedly thinks that now that he's showed up he is going to be able to command the market. I don't mean that as a conspiracy, just simply the natural perspective that "yeah the wall streeters think they are the most important players".

I do think that they all still don't grok enough of the nuances of this new world. Like I don't think they've fully conceptualize that structurally BTC isn't going to simply plug into the fiat world very cleanly in the ways they imagine.

For instance, the rehypothecation of gold exist because "heavy fuckin rocks" problem. People really can only transfer paper gold because its simply impossible to transfer, hold, and secure 8000 lbs of heavy rocks.

Whether its gold, corn, oil, etc....they've been able to have the same game because of this same situation. Investors don't actually want to own a tractor-trailer of corn....

These issues don't exist with BTC and I'm not sure if all of this has dawned on them. I think a hint of that is how currently 95% of all ETFs are custody at Coinbase. Like this is a new existential threat that they aren't fully appreciating. There is no solution if 180,000 BTC gets stolen from coinbase custody....I mean if this happens in NASDAQ / DTCC exchange world, they simply reset the database entries and keep going. If this happens to their ETF coins, well they are gone and there is no printing new ones.

But they are smart people, and in time (probably rather quickly) these ideas are going to dawn on them and they will start to adjust.

I think there's some truth to what Fred is saying. Bitcoin is being partially subsumed into the financial system, and there's not much we can do to stop it. The permissionless nature of bitcoin means there's no way to block Wall Street's participation.

Bitcoin is nowhere near ready to replace the financial system as we know it. We still need to figure out how to scale Layer 2. It's a harsh reality but it's the one we're in.

I can't believe no podcaster has made the connection to Freddy Kreuger yet and called an episode Nightmare on Wall St.

It is good to have former tradfi guys on side to speak the lingo tradfi and institutions want to hear but his perspective is annoying. Oh well he selling at 500k anyways.

Just like they "own" gold. Like Saylor, he says some right things but many I disagree with. I believe he said he would be moving his holdings into the ETFs before they were approved. My short summary of him is he's a believer in the state and status quo. He doesn't believe we need bitcoin to be a medium of exchange. He's fine with PayPal and Venmo for that. I think he's going to be right until he isn't. I don't think he believes the US financial system will eventually collapse. He's wrong about that. In the short term he may be right.

I share your feelings on him. I try to listen to smart people I disagree with even if it is annoying.

Wall street will get fucked. There is no central bank to bail them out and they will end up forking off with an inflation coin. Rent seekers can't help but rent seek.

I liked your opinion, I'll save this link for later

He's one of the reasons I left Twitter. I agree with everything you say about him. I can add a few things: