Sell While You Can – How Michael Saylor made the case for Gold – April 22, 2021,
I personally thought the debate between Michael Saylor and Frank Giustra should have been a slam dunk for Bitcoin, instead, Michael Saylor brought up topics, even I never thought about before, such as ‘wars for Gold’. Being that I know a few people in the military and law enforcement I asked them, would you put your life on the line for Bitcoin?😂
The responses I got varied, from I don’t do this for the money to an outright NO! never! Then I asked them if they’d put their lives on the line for Gold, a few thought their money was already backed by Gold, another told me that Fort Knox equated to how troops would get paid if the fiat currency system crashed, but I got more answers saying yes they’d fight for Gold than yes they’d fight for Bitcoin.
I don’t think Michael Saylor comprehends that most empires fell when the ruling class started paying soldiers with diluted gold pieces. The Roman empire fell because the Roman Military didn’t see anything worth fighting for! I personally would never give up my life to preserve a Bitcoin standard.
When I think Bitcoin I think of a bunch of nerds profiting off of my labour. Which is the equivalent to the nerds and assholes who are elected to be politicians who then use their power to dilute the value of commodities to create a welfare state that they believe will give them more power into the future.
Even now, I question is there anything worth fighting for in the Western World? As the Marxists get more control over my life and ultimately my freedom, and as I watch Derek Chauvin charged for second-degree murder primarily because the jury is terrified of what would happen if they actually looked at the evidence, I have to ask myself, why would I risk my life to preserve this?
Bitcoin is grid reliant, and I found that by Michael Saylor attempting to dumb down the conversation, he gave up the Bitcoin ambiguity which in my opinion is the main reason people keep buying. I’ve been trying to tell people that I don’t think Bitcoin is a Ponzi scheme and what does Michael Saylor do during the debate? He says users of bitcoin are getting their friends to join.😐
What made Michael Saylor really look ignorant about the gold markets was his stance on Newmont CORPORATION. Michael Saylor founded MicroStrategy Incorporated which deals primarily in software, and what tends to happen with these nerd types is they have a hard time comprehending that banks don’t want commodities or physical assets, they want CASH.
Banks don’t want to hoard, wheat, corn, silver, gold, REAL ESTATE, or anything that they can’t sell at profit during a down market. Gold prices fluctuate, banks don’t always want gold, my personal corporation doesn’t need bank financing in the immediate term, but I want to make sure the banks will finance me when I need them, so I don’t close any of my lines of credit with banks. In fact, I’ll often pay fees I don’t have to pay, because as a business, you never know when you’ll need the banks.
I initially thought it disingenuous when Michael Saylor was attacking Newmont Corporation, then I realized that because he sold software for a living(MicroStrategy Incorporated) and his other business was a Non Profit, that Michael Saylor might genuinely not understand the world outside of his software bubble.
I have to say, although many will say Michael Saylor won the debate, I’ve now seen blind spots in him that I didn’t notice before. I actually feel kind of embarrassed for him, because I think he went in believing he could bury Frank Giustra and what happened was he exposed his own ignorance.
I will say it again, I do not think it’s in the interest of Bitcoin to compete with Gold. When it comes to Peter Schiff, people have to understand that Peter Schiff based on what happened to his father in my opinion wants the dollar fiat system discredited and destroyed to have his father vindicated. Peter Schiff doesn’t speak for everyone in the Gold space, most of us don’t care about the price of Bitcoin! I love the debates and I love learning new things, but Bitcoin and Gold are two very different things.
Gold is where it is because of government intervention and Bitcoin is where it is because it’s currently able to elude the government. For myself, it’s really that simple! Now why I don’t sell my bitcoins… because if I were the Government, I’d make the businesses that accept Bitcoin as a form of payment pay the tax.
Being that Paypal as an example has embraced Bitcoin, they’ll pass any tax forced onto them onto the merchant. Now, during tax time, this could potentially be problematic for the merchant who accepts Bitcoin. I personally believe that Governments when they start passing these laws taxing Bitcoin, will make their laws retroactive.
The taxes I believe will be on merchants who accept Bitcoin as a form of payment. So when I write that Michael Saylor made the case for Gold don’t assume that I don’t see the value in Bitcoin, it’s just that I deal with tax professionals and because Bitcoin is growing, what the government typically does is it, goes after the low hanging fruit, which are usually small and medium-sized businesses.
Now, most large corporations tend to pass costs onto consumers, but if Bitcoin can’t prove itself to be stable, this could lead to a widespread rejection of Bitcoin as a form of payment. This is why for myself, my Bitcoin doesn’t move. It’s too early for me and this again is why I thought Michael Saylor made the debate harder than it needed to be. In the end, it was a good debate!