JackTheMimic on Nostr: In this world where does the 5% come from? Why would a bank give you anything to hold ...
In this world where does the 5% come from? Why would a bank give you anything to hold BTC? The answer is rehypothication. They loan your bitcoin to others. If you actually care about the value proposition of Bitcoin this is akin to naked short selling. Infinite downside marginal upside. As for the chide about my analogies, remember if you happen upon two people speaking a foreign language and you don't understand them, that doesn't mean they are speaking gibberish. Maybe you might need the humility to realize YOU don't understand something that is clear to others. I am not saying Saylor is incorrect about things that might happen. I am saying they are economically illiterate. People do things that cause market failures all the time. But the Yield paradigm he is predicting is just as foolish as printing dollars and just as disasterous.
Published at
2024-09-28 01:12:10Event JSON
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"content": "In this world where does the 5% come from? Why would a bank give you anything to hold BTC? The answer is rehypothication. They loan your bitcoin to others. If you actually care about the value proposition of Bitcoin this is akin to naked short selling. Infinite downside marginal upside. As for the chide about my analogies, remember if you happen upon two people speaking a foreign language and you don't understand them, that doesn't mean they are speaking gibberish. Maybe you might need the humility to realize YOU don't understand something that is clear to others. I am not saying Saylor is incorrect about things that might happen. I am saying they are economically illiterate. People do things that cause market failures all the time. But the Yield paradigm he is predicting is just as foolish as printing dollars and just as disasterous. \n",
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