"Speaking for all the bitcoiners, we feel like we're trapped in a dysfunctional relationship with crypto and we want out."Never have truer words been spoken. Although I have some criticisms of Saylor, I do tend to find myself agreeing with almost everything he's said over the last couple of years.
+1
A true and perfectly phrased comment by Saylor. The faster the crypto space disintegrates, the better. I hope this latest collapse serves as free NYKNYC education for the masses (free for most, very expensive for some).
I was pondering whether I should say anything about that Saylor interview.
Let me break my silence.
I thought that the interview was not very good - because it seemed to me that Saylor was not really answering the questions very well - because Saylor kept suggesting that bitcoin is the best, and shitcoins suck and even there are needs to regulate scammers - and even though there may be some correctness in points that he was making, I felt that the points were not really being very well expressed to get to the heart of the matter, even though it is possible that regulation could have fixed some of these matters, but it is almost acting as if there is a need for a world-wide government to regulate exchanges - and surely legislators are not going to carry that out in any kind of way that is going to be helpful in terms of empowering regular people to not have their money stolen or to have central parties engaging in fraudulent misrepresentations regarding their solvency and their use of client funds to gamble or to rehypothecate multiple circular propping up of the value of their Ponzi-scheme shitshow of appearances of value.. until the many houses of cards come crumbling down way quicker than anyone would have expected.. .. like going from something like $32 Billion to zero or even lower than zero in a matter of a few days.
It's not that I really disagree completely with Saylor - but it seems that fraud laws are already in place - so the vague calls for regulation seemed problematic in terms of solutions to the problem of attempting to re-inspire confidence of institutions in regards to the likely ongoingly good long-term investment thesis in bitcoin.
For me, it is surely NOT any kind of "hit it out of the ballpark" interview in regards to the sad times that we are currently going through with our ongoing negative price pressures on our lil precious..
I don't disagree with any of the things you're saying. This was not one of the good interviews of Saylor. My post was referring to his comment, highlighted in purple above, which I think was very well put. It
is true that over the last several years the Bitcoin space has been invaded by thousands of "crypto projects", the vast majority of which are greed-driven "solutions" searching for a problem, and negate all the important properties that make Bitcoin what it is. But, yes, Saylor was not at his best in this interview. He seemed a little uneasy and frustrated. Bitcoin is not currently where he was expecting it to be, as, I'm sure, is the case for many of us WOers, including yours truly. But I'm not worried.
To me, all this Luna, Celsius, FTX shit is a robustness test for Bitcoin. It was bound to happen, and it will keep happening. There is no point in trying to shield Bitcoin from all this. The network should be able to handle it without external help. And it does, with flying colors. And all this makes it stronger, while weeding out all the scams and shitcoins and Ponzis. There are side-effects, for sure. Every time this happens, the price dips and progress gets delayed by a few months or a year. Smart players take advantage of those situations by stacking more coins at bargain prices and patiently HoDLing and waiting it out, while weak hands sell at a loss or get wiped out by having given their keys to scammers like SBF. I think all of this is organic, inevitable and expected. And it strengthens Bitcoin in the long term. Bitcoin is not a get-rich-quick scheme, and anyone who treats it as such will have to face the consequences sooner or later.
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