What am I missing here?
IF it’s true (and it is true) that there are and will be capital controls, then all the dollars, euros and other fiat currencies that “you have” in “your bank account” are just exposure to dollars, euros and other fiat currencies. You need a permission to use them. And the dollars, euros and other fiat currencies that you have in your pocket (cash) are yours to use without a permission. Right…?
And if you own financial instruments, then those financial instruments are exposure to your local fiat currency. So, if you own Strategy, Metaplanet or another Bitcoin treasury company and you want to sell those to buy Bitcoin, then you will get some fiat currency exposure. And if your local capital controllers allow it, you can find a way to use the fiat currency to buy Bitcoin.
So, shouldn’t we quit saying that people, who invest in these Bitcoin treasury companies, have exposure to Bitcoin? Shouldn’t we just say that they have exposure to their local fiat currencies?
What do you think npub1f4q60j7fklm7sjzdz4ye42g5r3elnguuxajuch2kx8apulfkx0xqf2a37d, npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe, npub1klkk3vrzme455yh9rl2jshq7rc8dpegj3ndf82c3ks2sk40dxt7qulx3vt, npub1jt97tpsul3fp8hvf7zn0vzzysmu9umcrel4hpgflg4vnsytyxwuqt8la9y? All feedback is very welcome! I don’t care if you are a Bitcoiner, no-coiner, shitcoiner, blockchain enthusiast, or a fiat maxi. Or I do care… but I still want to hear what you think about this topic.
If the logic is correct, then I think that it would be important that Bitcoin podcasters -- npub16le69k9hwapnjfhz89wnzkvf96z8n6r34qqwgq0sglas3tgh7v4sp9ffxj, npub1rxysxnjkhrmqd3ey73dp9n5y5yvyzcs64acc9g0k2epcpwwyya4spvhnp8, npub1hghnjjpnvkz8t6gkszuf37d7puwc2qtxc65rnklqsngzv6kkug9qhhfyz2, npub1d9dgsq34nx3e9t6yd4l9zvfcw7vxzmv5xesffyaa3dr780hm5k6qcg6h5w, npub1r8mtwq33nnvxh6rzs4h25agp7czth4yndcqxayvvecfek2js6wyqpcwp63, npub1dg6es53r3hys9tk3n7aldgz4lx4ly8qu4zg468zwyl6smuhjjrvsnhsguz etc. – educate their audiences about the difference. Naturally everybody is free to do whatever they want to. But words matter.
Nowadays you hear people saying things, such as “When companies in the SP500 own Bitcoin, people who own SP500 have exposure to Bitcoin, whether they like it or not.” To me this does not sound like winning. Bitcoin will win, but not like that.
npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle, you are a person with many Bitcoin-related businesses, an important podcast, and you are often talking in the mainstream media about money. I would love to hear what you think about this topic.
#asknostr #microstrategy #strategy #Metaplanet #Bitcoin #BTC #USD #EURO #digitaleuro #sats #SP500 #paperbitcoin #paperbitcoinsummer
Replies (41)
If you don’t own Bitcoin you don’t own money. Someone else owns it “for you” they got you by the balls.
There’s no such thing as “Bitcoin exposure” that’s a scam. The fiat system is a scam. This system want you to delegate control of your Bitcoin to them because that’s how they get more power.
Self custody is the only answer.
No loans.
No trading.
No leverage.
No exchanges.
No treasury companies.
Fuck them all!
Correct.
Listen to my episode with Simon Dixon or
@Short Fiat
Also listen to the one with
@Neal
Bitcoin in self custody is the only thing you have allodial title over.
Influencers are scammers
Custodians must trend to zero
Give them nothing.
Don’t support their flat system.
Most of these influencers are sellers of fiat solutions. Avoid them. Don’t follow anyone who is selling you a scam.
The only exposure you have holding non-Bitcoin instruments is to the fiat price of bitcoin. I make a point of explaining that to my audiences, and I think two things are becoming gradually critical to educate people on:
1- difference between kyc and non-kyc
2- importance of self custody, and difference from everything else.
And yes - people can choose to hold what they want, inc. shitty fiat, and we need to respect that even if we think it’s dumb or counterintuitive.
No! We need to bully them!
🤣
😅🫢
Fares
Good stuff, npub1f4q60j7fklm7sjzdz4ye42g5r3elnguuxajuch2kx8apulfkx0xqf2a37d, npub1hghnjjpnvkz8t6gkszuf37d7puwc2qtxc65rnklqsngzv6kkug9qhhfyz2, and npub1dg6es53r3hys9tk3n7aldgz4lx4ly8qu4zg468zwyl6smuhjjrvsnhsguz I keep on following you all 👍 You guys seem to understand what Bitcoin is about.
When it comes to Bitcoin influencers (whatever that means) and podcasters, it’s quite simple to separate the wheat from the chaff. You just see how they deal with their more famous guests, who deviate from the white paper.
I understand that it is tempting to become a fanboy or a fangirl when one gets to interview a person like Michael Saylor or another big name. Lots of views etc.. And if the interviewer pushes back, the guest might not return. But when these people, like Saylor, starts to shitcoin* or to distort Satoshi’s idea**, the interviewer either wins or loses credibility.
I believe that when Jeff hammers home his message (“the natural state of the free market is deflation, a credit backed system requires inflation”), there is nothing that Big Mike cannot understand. He understands it very well. For whatever reason, Saylor chooses to muddy the waters, and, therefore, makes it makes it very confusing for the newbies. And the newbies are all going to get totally fucked if they don’t understand Bitcoin.
The same way that Bitcoin reveals who are the freedom fighters (Knut, Jeff, Max, Mike Peterson, Joe Nakamoto, etc., etc.) and who are the fiat currency loving statists (Saylor, Eric “I orangepilled*** Michael Saylor” Weiss, Larry Fink, and many others), it reveals the influencers and podcasters.
Some are in it just for the views. Some are in it for the revolution. And many of the interviews that got a lot of likes are going to look very embarrassing at some point.
* talks about the competition between Ethereum and Solana, crypto economy, Katy Perry token etc..
** Satoshi: “Peer-to-peer cash, no third parties required.” Big Mike: “Digital capital, digital credit, Manhattan in the cyberspace, custodied by a big institution.”
*** Saylor is not orangepilled.
The truth is that he’s a prostitute. Every public company is owned by the proof of weapons cartel. It’s like selling your soul.
Listen to
@Simon Dixon because he’s definitely the number one on this topic.
Also,
@Guy Swann has read the Great Taking by David Rogers Webb on his podcast.
It's excellent
Great book
Yes, I have been listening to Simon Dixon and David Rogers Webb. Both are excellent. I love the fact that Guy Swann has used his platform to spread the Great Taking message. I would love it, if Bitcoin podcasters interviewed David. How about it npub1hghnjjpnvkz8t6gkszuf37d7puwc2qtxc65rnklqsngzv6kkug9qhhfyz2 …? It would be epic.
Webb’s work is amazing. As far as I know, he is not a Bitcoiner* and is still trying to find legal ways to fix the situation. I don’t think it’s possible. But I do respect the man for everything he has done. And naturally I wish him all the best in this fight. In the end, whether he is a Bitcoiner or not, the enemy is the same.
* Webb is more of a Bitcoiner than many Bitcoiners who identify as Bitcoin maxis.
Sadly, been unable to reach him.
Will keep trying!
We actually got in touch with him but he said he wasn’t going to be doing any shows for a while, but would let me know when he was thinking of getting back into it. This was a few months ago. We refreshed recently just to see. Didn’t want to be pushy but it would be awesome to sit down and have a convo with him.
Not your keys, not your coins. True then, true now.
What about gold in self custody?
Physical gold is a good option
Fingers crossed, Guy!
… but is it? It does not work as money that well. Or what do you think?
It is good as a store of value.
You can't buy things digitally with it so it is not the future, but as a diversification, it is a good option
Yes, back to basics. 👍
I agree. Owning MSTR, Bitcoin ETFs etc is exposure to Bitcoin price approval but not Bitcoin as you say. Only holding BTC in self custody is true exposure to Bitcoin. Sometimes I say it wrong on my podcast. I’ll make an effort. Thank for pointing it out 🧡⚡️🙏
Thank you, Paula! Keep up the great work!
Lovely signal
Infinitely better than fiat, but it comes with a bunch of other limitations.
For me, the value proposition of bitcoin has almost nothing to do with the fiat price and almost everything to do with self custody.
I think it is better than fiat. It comes with other trade-offs which make it a non-starter imo. Like we have steel, why are we talking about building a skyscraper out of bamboo?
Well the question is can you take allodial title off it? Fiat is a scam. Largest scam in human history. Its not hard being better then fiat.
I mean, at least as much as you have allodial title of your own life.
They kill you, they can take ur gold.
Not necessarily the case with bitcoin.
Well key word "IF" btc is stored properly.
I think gold could pass that test too if stored properly, if its geographically hidden. But btc defenitly has a lot of advantages.
I educate about self custody all the time - that's pretty much my main thing. Not a fan of "exposure" through ETFs and treasury companies. Never tell people to buy them, and in the live shows often discuss the difference when catering to new people in the room.
Self custody or bust.
David Rogers Webb.
The Great Taking.
@Guy Swann read the book on his podcast.
TLDR.
You already own nothing, unless it's Bitcoin in self-custody.
Yes, it’s excellent. npub1hghnjjpnvkz8t6gkszuf37d7puwc2qtxc65rnklqsngzv6kkug9qhhfyz2, I know that you have seen it. BUT if somebody is reading this and does not know The Great Taking, here you go:
It’s excellent. And here’s another great documentary:
Just watched your video on setting up ColdCard Q Sunday. Should be moving to self custody out of my differed IRA soon. Then plan to set up a node on a dedicated Umbrel Home or Start9. Thoughts?
That's great Reed! IMO Start9 is fantastic and they have an awesome update coming asap here. A server one will do the trick for you!
