My ego wants to tell the twelve people of nostr, that it was earlier: View quoted note →

Bitcoin is a KYC and IOU asset meaning it's partial (social) credit already. And it will get only worse. Mixing is the fight for Bitcoin as actual money, but it's already an endangered species with the advancement of KYC and custodianship. Gold is dominated by IOUs in ETFs. He's absolutely right, though. There's a huge confusion in people. 99.99% of the people confuse money with (social)credit. Actual money as a bearer instrument without strings attached (fungibility and usabiliy) is very rare in this world. I'd even say it's not existent at the moment. Monero comes close, but due to it being so niche it has only little utility as of now.

Saylor is a snakeoil salesman. He is the one that custodies and identified his stack with Coinbase. It's not money in his case. It's a liability aka credit.

Credit means believing a counterparty will pay back what you lent them. In the fiat and loomming social credit system what you lend is your life force. It's not in control anymore if you sign up for the deal. Money is always a collective illusion, but that illusion will have a valuation against things you can trade at all times as you desire unlike a credit system that will lock you in.