Operation Saylor - Episode 20/120

Hi again and welcome to another episode of the Operation Saylor. This is update number 20, corresponding to February 2024.

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.

Hello again, and welcome to the February episode of 2024. Apologies for the delay. Life kept getting in the middle.

Another month goes down, and the bull market sentiment is all around. Reddit has already switched into noobs and memes. I'm glad to see stacker.news still has great content. It truly shows how the zaps upvoting scheme works nicely.

With the heavy green candles, I see people fantasizing and speculating again about how far can Bitcoin eventually go. Some people fully believe it will eat everything and we will see full-blown hyperbitcoinization and the death of fiat. Others believe Bitcoin will remain a marginal asset, left only to the minority freedom lovers and those who decide to escape the claws of the modern state. And, regardless on what the pictured end scenario is, people also tend to disagree on the timelines. Some tell me we will reach the end of the line in a couple of decades, others think that not even our grandchildren will see the end game playing out.

I don't know what will happen. Life is so uncertain, the world is so unpredictable, and it is such a huge topic that's on the table. Nevertheless, the other day I found myself exploring an interesting line of thinking with a friend, and I decided to expand it here.

Out of the different Nostradamus camps, I tend to be on the optimistic, bitcoin-will-eat-everything one. One point that the pessimistic maxis will wield against me often is how damned stupid, ignorant and coward most of the population is. Basically implying they will never have the guts nor the brains to adopt Bitcoin. I tend to agree with that. But I don't think that's an obstacle. Let me explain to you why.

Picture the entire population living under the fiat system. You have the money printers and cantillionaries, plugged into everyone's veins, sucking their economic life out of them. There is no hope: they are almighty, for they control the ledger, and so no adversary can develop significant economic capital. If most people, all of sudden, decided to jump into Bitcoin, and just unplugged their fiat needles out of their forearms, the cantillionaire house of cards woudl crumble just like that. But we just pointed out that the majority is not up for it. They are busy thinking about getting high on any drug, about how can they grow their dick three inches or about whether, like, Melanie had the right to, like, just start using the same nail polish as them, just like that, without even asking for permission.

But, not everyone is like that. Some part of the population is and will keep adopting Bitcoin. A minority. You probably know a few. You might be one yourself.

Now these guys have unplugged the fiat needle out of their forearms. They save, they stack, and they see their networth going up. They have a route outside of the cantillionaire maze, and they can do something they couldn't before: they can accumulate capital.

Let's draw the starting population map again and include these guys: you have the guys running the money printers. You have the general population being economically drained, unable to grow themselves economically into any significant position. And for the novelty, you have a bunch of Bitcoin-loving wackos that can accumulate capital without limits.

The general population isn't playing any role here besides being sucked dry. For as long as they don't adopt Bitcoin, they have no resources to significantly escape the economical control of their masters. So you are left with the printers and the Bitcoiners being the only entities that can build out capital. And here's where I believe that the general population doesn't need to adopt Bitcoin: because whatever small amount of Bitcoiners you have, they have the ability to economically grow and create an economy that will eventually be able to suck general population towards it.

Let's use this series godfather as an example: mister Saylor. He stacks regularly. His networth keeps growing. As Bitcoin reaches higher highs, he accumulates more power. Let's wank our minds and plot a $1M/BTC scenario: in 2020 Michael tweeted he holds 17K BTC personally. Assuming the (unlikely) option that he has changed his position, that means that on our day dreaming scenario his networth due to his Bitcoin stack jumps to 17 billion USD.

Is he in a position to fight the almighty US Government? No way. A small central-american country? Perhaps. But most importantly, Michael has economic capital to hire thousands of average Joes. Do they need to adopt Bitcoin? Not really. For as long as Michael can pay for their beers, their jes extenders and their nail polish, they will work for him.

How many Saylor's does it take to accumulate enough gun-powder to hire a significant amount of the population and middle finger the cantillionaire class? I'll leave you thinking about it.

As always, thanks for reading and I'll see you next month.