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Board Economics
Merits 1 from 1 user
Re: Micheal Salyor decalogue for a 10x Bitcoin Appreciation
by
JayJuanGee
on 07/09/2023, 04:56:39 UTC
⭐ Merited by bitebits (1)
People like Michael Saylor are very useful to the cryptocurrency world.  Yes, perhaps some of his predictions look overly optimistic now, but he may turn out to be right in the distance.

I cannot recall seeing any Saylor predictions that are overly optimistic, and I doubt that he is really predicting anything that is much different from what other bitcoiners had been saying prior to Saylor's mid-2020 coming onto the bitcoin scene.

In other words, he seems to be a famous person who is very articulate who is saying a lot of the same things that other bitcoiners had already been saying, and I am not even denying that he is likely much more articulate than a large number of previous bitcoiners  who also do not seem to as easily get a large platform as Saylor.

If you recall, Saylor was a pretty damned newbie bitcoiner in August 2020, and he was already getting on all kinds of podcasts and even nation-wide (and international) news outlets from the start - and Saylor even took on a spokesperson's role in regards to bitcoin so he could show us that he was learning along the way, but from the start, Saylor was a pretty quick study in terms of being able to articulate information that was already out there and even coming up with his own analogies and bringing his own smartness into the mix.. and sure maybe he ended up bringing some new ways of looking at bitcoin.. but it is still like he has any more power or ability to see the future than anyone else, except sure there is likely a bit of a magnifying effect to have a number of people working with him (and for him) from the start, and including his choices to put on conferences and to tailor various bitcoin educational materials.

Let's wait until 2025 - and then we'll see how right or wrong he turned out to be

Well, he was already shown to be a bit wrong in terms of some of the varying ways that he was stocking up on bitcoin, which kind of shows that even rich (and smart people) are not immune from having to go through bitcoin cycles and perhaps even suffer from the manipulation of other (even bigger players) and/or to fail to see certain kinds of overleveraging coming into the bitcoin space and/or tied to the bitcoin space.. so in some sense likely getting caught off guard from the severity of some of the so far 2022 bitcoin price corrections that might even be continuing to hold bitcoin prices down further and for longer than they really should be held down. 

Maybe I am playing off of some of the criticisms that Saylor receives for not really predicting anything that is outside of what many of us already know about bitcoin cycles, which is that they are pretty powerful, and not exactly guaranteed, but fools are likely going to continue to miss out on bitcoin because they either fail/refuse to buy any BTC or to buy enough or they end  up selling too many BTC too soon.

Many of us should appreciate that there is a lot of power with the likelihood of being directionally correct with bitcoin historically and likely the ongoing likelihood of continuing to be directionally correct without really exactly being able to guarantee any kind of exact timeline.. and merely if bitcoin is continuing to appreciate at least higher than the dollar is losing its value then it is doing its job, and there is additional icing on the cake if bitcoin ends up also beating other real property assets.. because of bitcoin's being a kind of real property that is way more moveable, and surely that is something that Saylor continues to repeat, and there really is no way that he can be wrong about his description of what bitcoin is, but at the same time, doesn't necessarily mean that he is going to get any kind of the timing correct.. or that he can take credit if he ends up being correct..

.....even though many of us who have bitcoin and who have continued to have bitcoin are likely getting some level of glee when we see bitcoin prices going up and then we have a kind of "I told you so" feeling going through us, whether or not we choose to gloat about it.. and bitcoin seems to never endingly allow for that kind of gloating every few years (maybe we can call them cycles), but perhaps the other portions of the cycle we look stupid unless we have been in a few cycles then we surely have enough of a price cushion that we can even gloat about how great bitcoin is, even when it is at the deeper ends of its correction periods..