💀You don't need to self-custody
💀You should trust government
💀Government would never confiscate your custodial Bitcoin
💀You're a "paranoid crypto anarachist, and a scammer, if you disagree
Those are his views. But those are his actions as well.
He's done everything he can to push Bitcoin to be a pyramid number-go-up investment-only that's held by custodians like him (he's trying to open a Bitcoin bank).
I'm not a huge fan of Saylor's view on Bitcoin either, and I wouldn't be surprised to see some governments confiscating crypto held in banks/exchanges for "the greater good".
That said, I also think the road to self-custody is a long one. In my experience, most people are afraid to manage a seed phrase, or they end up losing it.
I think we need a middle ground for now, where people who aren't ready for self-custody can keep their crypto in a "bank", but with an easy way to transition to self-custody when they feel comfortable.
For sure, and I think projects like Vultisig are amazing for helping make self custody simple. But what Saylor's doing is trying to bring tyranny to freedom money. It's inexcusable.
There's also a new alliance called DeRec (decentralized recovery) that's working on a standard that would allow users to spread their secrets over a number of trusted "helpers", who would then assist you to recover your seed phrases should you lose your device.
I'm not saying Michael Saylor didn't say those things. What I don't understand is how he could hold those positions in the 1st place. What is his endgame?
Should we still own BTC? Is there a major cryptocurrency more in line w/ our values?
Here's the clip if you wanted to watch yourself.
I saw the video embedded at the Twitter/X posting. Dude is serious. Holy cow!! 😮
Yeah he's bad news.
wait are those really his views? Because that'd downright madness compared to his actions.
Those are his views. But those are his actions as well.
He's done everything he can to push Bitcoin to be a pyramid number-go-up investment-only that's held by custodians like him (he's trying to open a Bitcoin bank).
I'm not a huge fan of Saylor's view on Bitcoin either, and I wouldn't be surprised to see some governments confiscating crypto held in banks/exchanges for "the greater good".
That said, I also think the road to self-custody is a long one. In my experience, most people are afraid to manage a seed phrase, or they end up losing it.
I think we need a middle ground for now, where people who aren't ready for self-custody can keep their crypto in a "bank", but with an easy way to transition to self-custody when they feel comfortable.
For sure, and I think projects like Vultisig are amazing for helping make self custody simple. But what Saylor's doing is trying to bring tyranny to freedom money. It's inexcusable.
I'll have to look into Vultisig.
There's also a new alliance called DeRec (decentralized recovery) that's working on a standard that would allow users to spread their secrets over a number of trusted "helpers", who would then assist you to recover your seed phrases should you lose your device.
He's the leading voice and influencer on Bitcoin by a mile.
Anyone in Bitcoin who continues to support this bad actor isn't a friend of freedom.
Bitcoin is completely dead inside. Who cares what happens to the price next. 😢
I'm not saying Michael Saylor didn't say those things. What I don't understand is how he could hold those positions in the 1st place. What is his endgame?
Should we still own BTC? Is there a major cryptocurrency more in line w/ our values?