Quote from: NotATether on November 28, 2024, 01:32:45 PM

Not by no-coiners or people who missed buying the dip, but actual HODLers like us.

Even though Michael Saylor is buying as much bitcoin as he can, some people don't seem to like him at all, and it shows for example on Telegram channels and sometimes X/Twitter.

I am one of the HODLers who is "vilifying" Saylor. It's not about sideline FOMO cause I have been stacking since before Saylor but I am genuinely concerned that he is leading people to their doom and here's why.

Saylor sells shares in his company to buy bitcoin but he seems to be leading people to buying his stock instead of buying (and self-custodying) bitcoin. In fact, he even vilified us self-custody maximalists as "paranoid crypto anarchists" for wanting to control our own keys.

Why would people want to buy the thing that Saylor is dumping so that he can buy more bitcoin?

Why wouldn't they just buy the bitcoin (and control the private keys) since he openly claims that "there is no second best"?

It seems to me that he leads a lot of supposed bitcoin maxis to buy his derivative shitcoin MSTR instead of buying bitcoin and moving it to cold storage. That is antithetical to p2p electronic cash.

Happy to hear any pushback on this but until Saylor can cryptographically prove that he actually owns the bitcoin that he claims to own, then he is only leading his followers into a custodial rug pull like we have seen with countless platforms from Mt. Gox all the way to FTX.