Does Michael Saylor Think He Has Enough Bitcoin? \ stacker news ~bitcoin

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Does Michael Saylor Think He Has Enough Bitcoin?

1373 sats \ 44 comments \ @siggy47 7 Aug bitcoin

People who understand bitcoin never think they have enough. I mostly believe this cliche. It certainly applies to me. I look at my measly stack and mull my long list of what ifs, spanning 12 years.

At the same time, I believe that bitcoin must be used and spent if we want grass roots adoption. I don't support the Saylor/BlackRock push to erase the idea of bitcoin as money. ETF buyers don't even own any bitcoin to spend, and they seem fine with that. I am always looking for ways to buy things with bitcoin.

Still, I find myself trying to replace every sat I use. I fool myself with this replacement idea. I know my stack is smaller than it could be. Saylor doesn't think about this. I wonder if he has ever bought anything with bitcoin? Does he use the lightning network?

I'm starting to think this tension is inevitable. Maybe I would want more bitcoin even if I was a whale. If so, would that be pure greed? Maybe.

So, I'm working on achieving a balance, although it's not easy. Stacking and spending act at cross purposes. Do other stackers feel this way?

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263 sats \ 1 reply \ @Undisciplined 7 Aug

I don't, but I'm also newer to this space. Every opportunity I find to use Bitcoin is exciting and I want to reward whoever created those opportunities.

I also am primarily interested in Bitcoin because I want the regime's system to be displaced. That it's helping my personal finances (which remains to be seen after Monday) is secondary.

46 sats \ 0 replies \ @siggy47 OP 7 Aug

You're a better man than I am. (My dad was constantly quoting Gunga Din) I must say you, more than most, put your sats where your mouth is.

241 sats \ 3 replies \ @OT 7 Aug

Yes, pretty much have similar thoughts.

I remember a few years ago UDI was trolling Saylor about not knowing about lightning. Saylor paid a 1m sat zap to the best meme and Shirehodl won.

But I also remember a time when MicroStrategy was meant to introduce LN for company employees micro rewards or something like that. I guess they never went through with it.

Those that contribute to bitcoin will have less sats than those that just hodl and benefit from the improvements. Still deep down you will be content that you played your part in the success of bitcoin.

And on that note, although Saylor doesn't seem to spend or contribute in that way, his contributions are getting bigger entities to join the party. Some might not see it this way, but it was bound to happen anyway if Bitcoin were to be successful.

43 sats \ 2 replies \ @Zzzzzzzzzzzzzzzzzzzzzzzzz 7 Aug

"Those that contribute to bitcoin will have less sats than those that just hodl and benefit from the improvements. Still deep down you will be content that you played your part in the success of bitcoin" gave me chills reading that...@siggy47 I believe the plebs are to use bitcoin as a savings vessel till they see something they really want and or need whether that be survival or starting a business. I encourage all to hodl when first entering to be honest what I think is when you experience NGU you understand how money should really appreciate and also that life isn't about showing up to your job there's more to it bitcoin buys you time back when you hodl allowing you to spend it with your loved ones or better yet working on yourself hopefully bringing you to realize the important things in life and becoming a better person because of it....its true there are gonna be dick heads entering and youll notice aside from that thats my goal to be able to pierce that veil and free/open minds, change lives..

111 sats \ 0 replies \ @OT 8 Aug

I agree that hodling is good especially when you first start. But there should come a time after a period if stacking and hodling to give back. Like anyone who kept their sats from pre 2013 should have plenty of sats to support projects that they'd like to see come to fruition. We see people donating whole coins to Trump so some people have too much bitcoin. We have very few people or organizations supporting development. If for whatever reason Jack Dorsey leaves we're in some trouble.

Let me put it this way. If we all used 20% of our stack to improve bitcoin giving it a higher chance of succeeding, the remaining 80% will be worth so much more.

21 sats \ 0 replies \ @siggy47 OP 7 Aug

Good points re hodling/hoarding as a virtue

241 sats \ 1 reply \ @Natalia 7 Aug

I remember when I started to write, I only wanted to have 1k readers; when it reached 1k, then you wanted to have 2k, 5k, 10k... feels the same with Bitcoin, it's strange.

54 sats \ 0 replies \ @siggy47 OP 7 Aug

Yes. I always imagine that I can finally relax when I hit X amount of bitcoin. The second it's reached I have a new goal to stress over.

65 sats \ 0 replies \ @TheMorningStar 7 Aug

Don't we spend Bitcoin when we exchange them for fiat to buy things? I don't find any difference in spending and exchanging.

You may refuse to like it but I have no other option here. I have to convert sats to fiat to buy things. If I don't do yhe conversion, I'll end up not spending it.

64 sats \ 1 reply \ @BitcoinAbhi 7 Aug

Only Satoshi Nakamoto has enough. Apart from this, everyone has a little.

22 sats \ 0 replies \ @Athena 7 Aug

I agree with you.

78 sats \ 0 replies \ @Coinsreporter 8 Aug

You can't cease to acquire more and more. It's what money is made for! I doubt Saylor will ever cease to buy when dips occur. Manu people won't like him for reasons I don't understand but I view that at least, he's a Bitcoiner who's creating buzz every now and then.

https://m.stacker.news/44297

64 sats \ 2 replies \ @nichro 7 Aug

I have no quarrels spending Bitcoin directly if a merchant accepts it.

The stack vs spend is a false dichotomy. If we take the infamous Bitcoin pizza example, it's easy to think "what an idiot he spent millions on pizza he should've used a 20$ fiat bill instead".

But in reality? Even if he did that, that's a 20$ bill he used on pizza instead of buying 20$ of BTC. So it's the same end result, and the only way pizza guy doesn't "lose out on millions" is for him to never have ordered pizza at all that day AKA not spend anything, fiat or BTC.

It's one reason BTC encourages saving for long-term and not spend on frivolities.

The real tension is not between spending vs stacking BTC , but spending generally vs saving.

I'm in the #SpendAndFuckingReplace gang

Edit: and I'll add, let's not forget to live a little. We should stack to live, not live to stack

53 sats \ 0 replies \ @Bell_curve 7 Aug

In 2010 who knew that bitcoin would become this global phenomenon

Of course bitcoin donations to Wikileaks were a big deal in hindsight

20 sats \ 0 replies \ @siggy47 OP 7 Aug

Interesting analysis. I'll need to let it sink in a while.

64 sats \ 0 replies \ @riberet19 7 Aug

I don't think he thinks he has too much, just like we don't either, as human beings we always want more.

43 sats \ 0 replies \ @jerrybature 8 Aug

Bitcoin is money. When there is the need to spend, bitcoin will just do.

106 sats \ 2 replies \ @anon 7 Aug

https://live.staticflickr.com/2895/33832999361_33b4c24b37_h.jpg

quo vadis

0 sats \ 1 reply \ @siggy47 OP 7 Aug

I don't know yet

43 sats \ 0 replies \ @anon 7 Aug

enough is not a destination, but a state of mind

siggy47

53 sats \ 3 replies \ @grayruby 7 Aug

As long as people continue to give him ridiculously cheap fiat to borrow so he can buy more bitcoin that’s what he will do.

In terms of him thinking about bitcoin as money. I think he is intentionally very cautious in the way he presents bitcoin as a SoV, digital property, collateral and not as competition to the USD. I do wonder if that will change over time as bitcoin becomes more entrenched and politicians need to take a friendlier stance towards it. But for now, the last thing the guy whose very large net worth is tied to an enterprise that owns over 200k bitcoin wants to do is tell the people who make the laws that Bitcoin will derail their gravy train.

50 sats \ 2 replies \ @siggy47 OP 7 Aug

I have thought about Saylor in this regard too. I do remember a few years back hearing him on a podcast saying something to the effect of "in the end, if governments get too oppressive, I have my own keys." Regarding Microstrategy's stash, at least, that's probably not entirely true. Multisig, trusts, etc.

43 sats \ 1 reply \ @grayruby 7 Aug

I don’t think that’s the case anymore. To his personal stash sure, but I think at least some of the MSTR stash is custodied at fidelity.

20 sats \ 0 replies \ @siggy47 OP 7 Aug

Makes sense.

48 sats \ 2 replies \ @03365d6a53 7 Aug

of course you should spend your bitcoin

what else would you use to spend?

If the answer is not bitcoin then it's self evident you are not stacking hard enough

0 sats \ 1 reply \ @028559d218 7 Aug

Question is... where to spend it. And of course... are you spending it where the merchant actually accepts the bitcoin? Because if you are 'spending' it and it is immediately being converted to dollars (by some third party) I'm not sure that's what people are looking for.

That's why, in my opinion, bitcoin is best spent on bitcoin-related vendors companies and services. They will hodl it and know what to do with it best.

0 sats \ 0 replies \ @03365d6a53 7 Aug

if you have no merchants nearby

then get busy orange pilling (yes, it works)

what merchants do with their btc is none of your business

you must agree that retail / vendor selling (btc to fiat) has ZERO impact on the network

merchant adoption though...

43 sats \ 0 replies \ @02bcd3eeb0 7 Aug

They don't. Stacking is just future spending.

43 sats \ 0 replies \ @cristaiji 7 Aug

Yeah absolutely I’ve always felt that bitcoin should be spent and not just stacked.

That was how I managed to lose some in the early days when in retrospect I probably should have been hodling. 😄

43 sats \ 0 replies \ @AD_ 7 Aug

I’ve always thought the best use of his stack would be to buy out tons of billboard space across America’s interstate system with a simple “hope.com” in big bold letters.

It’s such a simple yet effective message and it would help with the average person making the connection between Bitcoin and hope or at least getting them curious.

Not sure how much Micheal would care to spread the word to plebs, he’s too focused on orange pilling the big boys, which has its own merits.

https://m.stacker.news/44219

43 sats \ 0 replies \ @0xbitcoiner 7 Aug

🤠

https://m.stacker.news/44174

43 sats \ 0 replies \ @flat24 7 Aug

I have never paid directly with Bitcoin, but I have used Bitcoin to cover my needs... my first fruitful DCA and true understanding of Bitcoin came to me last year, and at the end of 2023 and beginning of 2024. My finances took a hit because the work I was doing lost demand and I was barely billing enough to cover some of my necessary expenses (house, food, health) so my purchased SATS, in the range of 20 to 30 were my salvation, and because Bitcoin does not lose purchasing power, but rather you gain purchasing power! I did not use all my SATS in Fiat value, I spent almost the same as I bought at the beginning, however covering that amount of Fiat cost me much less SATS when it was my turn to use it months later. Today I continue stacking and I have almost been able to recover all the SATS spent, I have changed my work approach and have solved short-term income, and step by step I seek to advance my stack, week by week.

I consider Bitcoin more as that safe vault, than as a payment currency.

I think it is more useful for the first one for the second option then I pay with other options (XMR, USDT, LTC, USDC, DAI) PD: on an emotional level I see it more feasible to pay with shitcoin than to pay with SATS. understanding the value of each one

PD2: I also think that we will never have enough 🤠⚡🍊

43 sats \ 0 replies \ @DawnoftheDead 7 Aug

Stop at 1

43 sats \ 1 reply \ @94f66a6138 7 Aug

I don't see the conflict - you spend what you need to spend, save what you're able.

Get two wallets, and use one as you would a checking account, the other use as a savings account.

Problem solved.

0 sats \ 0 replies \ @siggy47 OP 7 Aug

It's not a wallet problem. It's a brain problem.

43 sats \ 4 replies \ @Satosora 7 Aug

It doesnt matter if your stack is small. Just keep humbly stacking, and it will get larger. The purpose isnt to make you rich. Use it when you need.

20 sats \ 3 replies \ @siggy47 OP 7 Aug

You are a virtuous man. I have trouble believing there isn't a little greed lurking in most of our hearts.

43 sats \ 2 replies \ @Satosora 7 Aug

Not virtuous. I also have greed in my heart. Usually the greed ends up steering you wrong. But zen helps.

20 sats \ 1 reply \ @siggy47 OP 7 Aug

I agree. Zen helps

43 sats \ 0 replies \ @Satosora 7 Aug

The only reason why I havent pulled anything from this site is because I dont use the lightning network. I will figure it out eventually.

43 sats \ 0 replies \ @0xbitcoiner 7 Aug

I'm on the same page about spending Bitcoin to back the circular economy. When it comes to having enough Bitcoin, that's something everyone has to figure out for themselves. It's never really enough, but you gotta manage your btc in a way that works for you.

0 sats \ 0 replies \ @Octopus 7 Aug outlawed

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0 sats \ 0 replies \ @77edb424fc 7 Aug outlawed

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0 sats \ 0 replies \ @LOLok 8 Aug outlawed

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