This whole talk today was a complete trainwreck, but I'm posting a few minutes of it to show how bad it was.
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ico vibes
2017 called, it wants its narratives back
Oof ๐
Maybe he thought that playing with controllers has no consequences
Lost his track
I nearly made that the title.
Andreas needed cash. Fine.
What's Saylor's excuse? ๐คฆโโ๏ธ
๐คฎ
(Well, not fine at all, TBH)
I think @Giacomo Zucco has the best take
has saylor implemented his ordinlals based digital id system yet?
Saylor is a clown
His nonsense has led people to believe that Bitcoin is literally "concentrated energy", or something similarly ridiculous.
I saw a recent post on Nostr talking about Bitcoin as a "thermodynamic ledger" in an authoritative tone.
There's nothing thermodynamic about mathematical computation other than the waste heat generated in the silicon etc.
It's like saying your spreadsheet is "concentrated thermodynamic energy" because your PC used electricity.
I can't take Saylor or anyone else that makes such statements seriously
It was true when he had 200k btc and also at 630k btc.
Chiefwhite
I chalked it up to; fiat maximalism is a hard disease to shake, no matter if you bought 200,000 btc or not.
Give him some credit, sounds like he is trying out new material after giving the same three speeches since 2020.๐
Hi sorry! please check out my Geyser ๐๐ป itโs for my son ๐๐ป thanks so much
View quoted note โ
Fake news from Giacomo, anyone that paid any attention knows he wasnโt saying โthereโs no second bestโ because he thought the government would crack down on other cryptocurrencies.
Thereโs nothing inherently wrong or immoral ablutions tokenizing things like shares, tickets, etc. Most bitcoiners just have PTSD from the bad application of technology, so they have a knee jerk reaction at everything looking to solve a problem that Bitcoin canโt for obvious reasons
Idk wanting better technology for people? Is it not better if people that wanted to own shares of a company did so through a token that one could custody vs the status quo?
Bitcoin only solves the money problem
There are other areas in life using archaic technology. There is better technology that we can leverage to improve how people interact with bonds, shares, memberships, raise capital, etc. Not taking advantage of these technologies because scammers have also used these technologies is as retarded as the idea that we should ban guns because bad guys use them.
The brain rot from living in an echo chamber is real.
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This guy own Saylorโs shitcoins. ๐คฃ
So you think itโs better to have shares in a company stranded in an archaic system than in the form of a token that you can self custody and trade freely with anyone on earth? Got it ๐๐ผ
tokenizing hashrate
Spoken like a true bit-clouter.
Sounds like the BEEEEEG pump is coming.
I'm tired, boss.
so tired
Why?
You can think that bitcoin is the best & only digital money and still let people try to tokenize some other stuff.. It won't work in most cases but maybe in some so what's the problem?
Some people just want to hate on saylor for anything ๐
get help frens..
What the actual fuck
Its actually a positive sign when your "heroes" become villains. Means you held the line and they broke.
Sad to see he obeyed.
I do not obey!
Tokenize deez nuts
I see at least too reasons why this isn't such a great idea. 1. As the real world assets don't reside on the chain, you need to trust someone who says the assets are there and there are only as much of them as claimed. 2. There's no incentive to run a decentralized blockchain for this just like for all use cases besides money.
Just do it more efficiently and use a database, only bring the UX to 21st century.
Tokenization isnโt inherently bad. Itโs just a way of using technology. Like tether is to usd. But if the claim is that an assetโs value automatically increases just because itโs been tokenized, thatโs BS.
Huh, it really was ๐
What an earth is he rambling on about !? LOL
But why ๐คฆโโ๏ธ
Gives off "When you forgot to prepare a speech, so you just wing it" vibes ๐
๐
Come on dude. The man has dropped banger after banger. If he ever has a bad day, thatโs okay. Heโs human.
Spoken like someone who missed out on the 'ICO' era.
All your coin are belong to us.
Is the rum gone sailer?
he should spend some stats on suits
Wut? You literally explained the incentive in the first point.
Bitcoin only solves the money problem. We have other problems besides being able to save and transact, obviously. The reflexive hate for using these technologies to improve user experience in a variety of circumstances outside of money is retarded.
I meant incentive to act as a miner, obviously, as otherwise there would not be decantralization and it would be just better to run a database. Whose shares/house/tickets/gold/whatever would the miner get as mining reward?
AFAIK, there's no solution to the oracle problem without a trusted third party. I'm happy to change my mind with evidence to the contrary.
Not everything needs to be as decentralized as Bitcoin, obviously.
But even if you wanted the changes of the ledger to be made through PoW then the incentive to mine would be fees of course.
There are other benefits to tokenization that donโt require PoW. Again money and concert tickets donโt need to have the same guarantees. Itโs like holding screws to the same quality standards as a heart valve.
The idea that we shouldnโt improve the status quo because a perfect solution may not he possible is insane.
Bitcoin solves the double spending problem.
What problems do these ๐ฉcoins solve?
And you think the only problem we had was bad money?
People outside the US would like to have access to American capital markets. Tokenizing equities can solve that problem. Thatโs just one example.
Bitcoin is permissionless and has a CAGR of like 45%.
The SNP has returned like 6.4% for 25 years and requires permission.
Bro WTF was he even talking about
Thatโs irrelevant. Money is different than companies that make things.
Had* a CAGR of ~45%. The list of companies that have outperformed Bitcoin for many years now is not short. Some people want to own these companies. The idea that no company produces value in bitcoin terms is moronic.
โI know you like this company and would like to own a piece of it, but have you thought about not doing that and just holding money?โ Like what are we doing here
Dillardโs has returned 50% more than Bitcoin over the past 5 years. We can cope about it, but there are better performing assets out there over and people want to invest in them. Bitcoin doesnโt obsolete investments
Thats why self-custody is critical
Investments are part ownership in a business. You can invest Bitcoin in a business and get a share of the profit. Which is naturally higher than saving Bitcoin if the business of its run well. Because saving Bitcoin just transfers the value you put in over time.
Those investments do not require cryptography though. They require permission. Cryptography doesn't fix that problem.
Who da fook are the Commanders?
I think this says more about DC than about Saylor. Trying to sell something as simple as bitcoin to a bunch of bureaucrats is going to make for cringe, off topic presentations. Hes struggling to find a serious utility other than sound money, and hes coming up empty.
Do you know how mining proof of work works and what is required to mine Bitcoin blocks?
Yes, in great detail. Including all of the cryptography and ASIC architecture.
Good. Energy.