I think Saylor gets the fundamentals as a store of value and agree with him that price fluctuations will likely smooth out as institutions buy in.
I don't buy his "you can live off debt" strategy.
I've listened to several of his interviews and his analogies often are rambling and miss the mark.
I don't think he was saying you'll need $20,000 to buy in - he was simply saying $20K Bitcoin is something we may never see again.
@DrChris @rife_with_tedium @adam @madchuck he clearly mixes that up and when sailor says we won't see $40k again he means: Retail will not be able to buy BTC for under $50k. when he says they have more money than god is not an christian statement , he is just saying they have a fuckton of Money.
Highway to hell does not mean it is the highway to literally Hell
@yukiame yeah but why won't retail investors be able to buy under $50k??
If all the miners decide to just hold Bitcoin and become banks, why would they even continue to mine?!
They won't. They would stop mining or devote less CPU power to mining over time.
Then they will be replaced by other miners who aren't part of the Country Club.
And Bitcoin lives on. #antifragile
@rife_with_tedium @adam @madchuck @yukiame you really think God wants 50 or so friends of Satoshi to own about half of "the future of money"? Bitcoin is a really bad idea. It's a massive ponzi pyramid scheme, with 99.9999% of the world population having ZERO share in it, and for sure God does absolutely not approve of it.
@yukiame @rife_with_tedium @adam @madchuck yeah so some random dude who mined a few bitcoins a few years ago on his home desktop machine needs to be a Billionaire today. While 7 Billion people have ZERO bitcoins and never will own any, why would they?? This whole "btc world" makes zero sense. Why should farmers in India accept to be ruled by this bullcrap "cryptic" currency? Sonmeone has to fight back. Bitcoiners need to lose everything at some point, sooner rather than later.
@yukiame @rife_with_tedium @adam @madchuck it's a distribution from world to
the Winklevoss twins and more massively to their predecessors, very few guys who right now have moved to Hong Kong and other tax heavens and only spend day by day loading off Billions of dollars worth of their old bitcoins, they are cashing out. And who's buying? No it's not just car companies with large twitter following and a way way overvalued valuation, it's a whole bunch of small investors who will lose everything
@rife_with_tedium @adam @madchuck @yukiame well I am just suggesting that God and Jesus hate bitcoin, and that such a ponzi scheme is probably even condemned in the Bible:
You shall not steal, nor deal falsely, nor lie to one another.
The wicked borrows and does not pay back,
But the righteous is gracious and gives.
Behold, Lord, half of my possessions I will give to the poor, and if I have defrauded anyone of anything, I will give back four times as much.
Just to name a few..
"For to every one who has will more be given, and he will have abundance; but from him who has not, even what he has will be taken away."
@Charbax Yeah i get your point, but do you have this same level of righteous fury towards to those elites who smile at you and lend you 150% of your net worth at 12% interest, and call Washington for a bailout when you go bankrupt and lose it all? Bitcoin is just an asset like baseball cards or gold, either buy it or don't. if you hate it so much, don't buy it.
@rife_with_tedium oh for sure those corrupt politicians and corrupt wall street needs to be removed. But it doesn't change from the fact that someone, me included, need to push back, Bitcoin is now a Trillion dollar ponzi scheme. Millions of innocent guys in their moms basements are going to lose everything. This is going to be 100x worse than Bernie Maddoff. Someone has to stop this bullshit before it does too much damage to too many people.
@Charbax Yeah that's kind of the same point I was making in the audio, only less like "OMG we have to stop it" and more like "LOL what do we have here!"
@Charbax It could end up being really bad but I don't blame Bitcoin because this is just a repeat of 2008 with the same cast of characters, only replace real estate with crypto.
@rife_with_tedium in 2008 at least there were a few million houses, something real and tangible out there. And that relatively poor people can get a chance to get a mortgage, I am not against that basic idea. Here there are no houses, there is nothing. Other than some millions of Nvidia GPUs and other custom built blockchain mining asics, there is absolutely no real value. On the other hand, if the scheme here is all about blowing up the global financial system ending capitalism then why not try
@rife_with_tedium sure the houses are in ruin, but the people are still alive and they deserve cool houses, cool appartments and whatnot. Take the money from the rich, give houses to the poor. That sounds like something Jesus would say. None of the poor are buying houses with bitcoins, sure a very tiny small minority might be cashing out (screwing the new investors) on being crazy lucky having invested in btc 5-10 years ago, but for everybody else it has no value and never will have any value.
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