pull down to refresh

30 sats \ 6 replies \ @Solomonsatoshi 27 Oct \ parent \ on: [AITA] I was the first CEO to buy $250M, but call you paranoid crypto anarchists AskSN
You have raised several strawmen but address none of the central points of my comment and criticism of Saylor. ~ Maybe he resigned because he was under investigation for tax fraud which he has now been convicted of- https://wtop.com/business-finance/2024/06/billionaire-michael-saylor-settles-dc-tax-fraud-case-for-40-million/ ~ To repeat ~ my primary criticism of Saylor is that he plays completely into the hands of the narrative that Bitcoin is a speculative commodity, not a p2p payments protocol. This threatens the very core principles and ethos of Bitcoin by undermining it's P2P payment capacity, viability, potential and making it more prone and vulnerable to a ban on private custody.
write
preview
121 sats \ 5 replies \ @grayruby 27 Oct
He is never going to promote Bitcoin as a competitor to the dollar. Even if he believed that it would be foolish to say it. As a public company imbedded in traditional finance and under regulatory scrutiny he has to be very cautious about his approach.
reply
50 sats \ 4 replies \ @Solomonsatoshi 27 Oct
Therefore he cannot and does not honestly represent and promote the truth of what Bitcoin is. He pushes a false narrative. He plays directly into the hands of those who want to capture and control the protocol by debasing it into a speculative commodity asset.
reply
111 sats \ 3 replies \ @grayruby 27 Oct
I hear you but I think SoV will always be a gateway for new users to adopt and learn about Bitcoin. p2p payments is a hard initial selling point especially for people in developed nations who are used to fiat and tradfi rails.
reply
60 sats \ 2 replies \ @Solomonsatoshi 27 Oct
Fair point but it's a slippery slope as it is resulting in an ever smaller minority of Bitcoins total issuance being held by individuals free of KYC and an ever stronger use and perception if Bitcoin as a speculative commodity, not a P2P payments protocol.
reply
10 sats \ 1 reply \ @grayruby 27 Oct
Agree
reply
60 sats \ 0 replies \ @realBitcoinDog OP 27 Oct
Ultimately this is why SN and our move to attached bitcoin wallets is so important!
reply