Saylor presented himself as a maxi but now pushes the perspective that lumping Bitcoin and crypto together (when years of work was done creating a line in the sand between them) is somehow going to be of benefit to Bitcoin.

Crypto is the attack. It's entirely comprised of watered-down, centralized, and controllable versions of Bitcoin that can be used a bait and switch on an unsuspecting public.

Conflating the two things is unforgivable. Imagining long standing enemies to be of tactical benefit no matter how short term is a mistake.

I'll ignore the entire context and highlight why even the one thing that's supposed to of benefit here is a huge loss:

The steelman is this: "Create a larger industry with more collective influence than could be achieved with Bitcoin alone."

(This assumes Crypto is enormous and not merely presenting itself as enormous. It's the latter for obvious reasons but shelve that for now...)

Crypto and Bitcoin do not have the same requirements to succeed.

Crypto requires constant approval from regulators as it cannot function without it at any scale. Sure you might get some crazy short term pumps, to the extreme you might get another DOGE that takes the fancy of one man-child billionaire who couldn't handle the ego-check that is Bitcoin. But you're never escaping joke/scam/gambling category like that.

Crypto has to be afforded legitimacy because that is how it pulls ahead of competition. You are an altcoin. You are not Bitcoin. That means you must compete with a million other altcoins, all of which are obviously scams to anyone with any discernment. Your value comes from getting listed on a big exchange or getting some stamp of approval from a regulatory body.

Bitcoin not only doesn't require this but is harmed by it. The construction of regulatory moats within Bitcoin's ecosystem is the beginning of the end. If I can summarize the entire mission of this account over the last decade it would be having been banging on about this one specific point:

Crypto dies when it gets made illegal. Bitcoin gets better.

This is anti fragility. And here's the second bit everyone forgets: Bitcoin gets made weaker and more fragile when its "users" operate within limits imposed on them by regulators.

Examples:

• "Mining" but delegating all block construction and custody of newly created coins to trusted third parties in order to pay significantly less tax
• "Green" mining (not really a thing yet but the purpose of Saylor's mining council was to 'voluntarily' attempt to pander to the psychopathic, hypocritical de-industrialists to appease them of course without regard paid to the eventual "I'm not touching you" style softly-mandated enforcement of all once-voluntary efforts. tldr: "Be a part of this or pay the price: you're getting taxed at 60% but don't worry, you get it all back when you do XYZ, but XYZ ofc isn't mandatory."
• KYCing yourself to buy your coins. (Creates two tiers of UTXOs, legit ones and "unclean" ones worth more/less depending on the situation. Anything that undermines fungibility makes Bitcoin less "money" and more "barter" with all the usual inefficiencies therein
• Third party custody for "hodlers": Using ETFs/MSTR etc to take advantage of the regulatory moat. Sure you're throwing money that would be spent on real Bitcoins into a black hole but you now you won't get sued by your shareholders! This has the effect of guaranteeing there are fake "Bitcoins" out there.

All of this is fixed over night with draconian, poorly thought out measures like China banning Bitcoin mining. That would have killed any crypto and was a massive win for Bitcoin.

What you absolute cannot do is mistake Bitcoin for some kind of tech stock that exists in regulatory purgatory that would benefit from becoming legitimized in the eyes of the people Bitcoin was brought to destroy. This includes all types of fiat grifters, from the central bankers to the crypto scammers. It's all the same scam.

You cannot play games and treat them as temporary allies without necessarily corrupting the culture within Bitcoin itself. ETFs should never have happened. Now that they have and we have a pro-crypto adminitration coming into the whitehouse, you'll have the "bluechip memecoins" along side.

Hostility towards all crypto including Bitcoin benefits Bitcoin in the long term and kills everything else not built to survive. Friendly treatment turns all of it into permissioned nonsense incapable of the serious mission here - and the ultimate insult is that Bitcoin never needed the friendly treatment in the first place.

The only way we can prevent Bitcoin from becoming a stupid crypto in the eyes of the world, from being treated as such, and becoming as such is by doing what we've been doing and rejecting compromises of the kind being placated in the video below.