Bitcoin Standard author Saifedean Ammous says the protocol remains secure even if Michael Saylor’s firm Strategy were to accumulate up to 10 million Bitcoin—nearly half the total supply.In an April 25 interview with entrepreneur Anthony Pompliano, Ammous dismissed concerns about centralization or manipulation.He said:If Michael Saylor ends up with 10 million Bitcoin, what is he going to do? He’s likely just going to leverage them to buy more Bitcoin.
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37 sats \ 1 reply \ @grayruby 17h
I disagree with that. Even if the protocol were agnostic which is debatable because that is a lot of power and influence over the community to go along with what Saylor wants, but even if it did, one entity holding that much supply would massively restrict the free and open flow of Bitcoin around the world. It would essentially create a defacto Bitcoin central bank that people and large entities needed permission from to get access to its reserves.
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40 sats \ 0 replies \ @028559d218 17h
Every company, every individual, every business, every family office has the option to buy Bitcoin today. It is widely available.
There is what 400 trillion of wealth out there and still that capital hasn't flowed into Bitcoin but remains in inferior stores of value?
This is not the fault of Saylor or Strategy.
To the contrary it's easy to create a seed phrase, buy Bitcoin from a cex or dex, withdraw it for 25 cents and custody it yourself in a shoebox. And each sat in self-custody is verifiably not available to strategy or the ETFs.
Plus utxo ownership does not change consensus rules. That is a function of nodes and to a lesser degree miners.
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34 sats \ 0 replies \ @itsMoro 16h
holding tons of btc doesn't mean much, imo. If btc becomes useful in the world at any scale, they would be forced to sell it if they are not productive themselves.
If we were talking about controlling blockspace via hashrate... that's a different story.
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36 sats \ 0 replies \ @kepford 16h
Of course he is no threat to the protocol. If you don't get that you don't get the protocol.
The danger is the human influence factor. He has a ton of respect. Thing is... this is true of any market influencer so not really unique to bitcoin. His power is really in his influence.
The other thing to consider is that wealth matters. Not in the protocol but outside of it. IE, paying bitcoin devs. Paying companies. Buying influence to fight against good ideas. A dark Saylor could do harm depending on your opinion about what should happen. Thing is... he would be affected as well.
Bottom line. I don't lose any sleep over Saylor nor should anyone else.
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0 sats \ 0 replies \ @BitcoinIsTheFuture 15h
It’s funny the guy probably have 0 Bitcoin. lol no proof of company or personal reserves. See El Salvador for proof of reserves….
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