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Toby McMann
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2024-09-22 15:26:13

Toby McMann on Nostr: In his discussion with saifedean, saylor suggests the benefit of earning 5% interest ...

In his discussion with saifedean (nprofile…2c9y), saylor (nprofile…2ldx) suggests the benefit of earning 5% interest from loaning his #bitcoin to "too big to fail" banks outweighs the potential harm to society and innocent taxpayers. It is "just a function of risk appetite."

Saylor owns a lot of bitcoin. He is highly intelligent and understands the value of its scarcity, and the fiat system. He deserves credit for transparency, and there is nothing wrong or illegal with borrowing or lending money. But Saylor does not appear to have internalized the reason for Bitcoin's creation or it's core value to society -- i.e., "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."

Whether purposeful or not, I hope that a combination of greed, large risk appetite, size bias, set against the "holy grail" of profit maximization, does not ultimately cause more harm than good.

ODELL (nprofile…p7e2) Rabbit Hole Recap (nprofile…hqsq)

https://youtu.be/k7XhzXMSAPo
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