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Michael Saylor is bad for BTC and we should get rid of him

In a recent interview, Michael Saylor argued about regulation of cryptos. ([https://www.realvision.com/shows/raoul-pal-adventures-in-crypto/videos/taking-the-sec-very-seriously](https://www.realvision.com/shows/raoul-pal-adventures-in-crypto/videos/taking-the-sec-very-seriously) you can skip to minute 68+) If you watch his statements, it becomes evident that Saylor is lobbying for a world where bitcoin is held and traded within established organizations. While that his fine, he favors some very nasty regulations, just to pump the BTC price in the short-run. My concern is that it will kill it in the long-run, though.

Specifically, I see the following:

1. If you have KYC everywhere, the government will see who has what and bitcoin becomes a fully transparent wealth ledger. Coinjoining won’t prevent this due to its non-default-use by normies and my second point below.
2. With publicly-listed mining farms clustering in a few mining pools, the government can put pressure on miners to white-/blacklist certain addresses, which will render coinjoining equal to impairing your coins. BTC will become non-censorhip-resistant.

I am holding BTC myself (prefer its privacy-focused private brother) and am not against regulations at all. But I despise this future and I think it will destroy everything BTC stands for. Since regulations are up for debate right now, I do not want to see a Michael Saylor lobbying as one of the spearheads of BTC in favor of regulations that will kill BTC as we love it. And don’t be naive, regulations are always negotiated to favor certain parties vs. others. Now is the time to take a big step towards individual freedom by not compromising on censorship-resistance and self-custody.

My favorite scenario would be a WSB type of raid on MSTR stocks to make it trade at a discount of e.g. 10-30% as long as Saylor is CEO. this will put him under pressure to step down.



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15 Comments

  1. Shit coin scammers should be made to cease, or go to jail.

    That would be good for Bitcoin, while also protecting noobs who don’t yet know better than to throw their money at shit coins.

  2. I think you are misunderstanding what Michael Saylor is saying. He’s not in favour of regulations for Bitcoin. He’s saying that many cryptos are securities and fall under securities laws. Exchanges that deals with cryptos that are securities also fall under securities laws. That’s nothing to do with Bitcoin. Bitcoin is not a security and is not subject to securities laws.

  3. Saylor is probably the best that’s happened to btc. And Why not regulating? I would love a bit more of security. Think about the sweat between your asscheeks everytime you transfer btc.

  4. Saylor is like Renfield to Bitcoin’s Dracula, knocking on the legacy finance system’s front door — “the Master is here, won’t you let us in? Won’t you let… us… innnnnn”

  5. >My favorite scenario would be a WSB type of raid on MSTR stocks to make it trade at a discount of e.g. 10-30% as long as Saylor is CEO. this will put him under pressure to step down.

    While I agree that Saylor is trying to lead Bitcoin down the regulated path, I don’t see how making him step down would do anything. His successor will take up the Bitcoin regulation banner and march on. His company now has everything to gain from taking the lead on Bitcoin regulation.

What do you think?

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