Garbage.
If Elon's autistic 180s on bitcoin haven't disavailed you of the notion of following bitcoin superheroes, Saylor's mining council should. Let's get this straight. Bitcoin doesn't answer to any council, especially not one that's just made up out of nowhere. So the notion that we now "need" this (Saylor's word) is completely, 100%, verifiably, objectively false.
It's ridiculous to start a council to combat a false narrative. It's not a council to actually optimize bitcoin mining — it's a council to fucking report statistics to a central authority like a schoolchild taking a test.
Bitcoin doesn't fucking need marketing. It doesn't have to get to a certain level of adoption by a certain date. It's timeframe doesn't need to be sped up. It doesn't have to participate in this perpetual growth economy that Saylor and all businessmen come from. It can simply be and swallow the world bit by bit. It doesn't have to justify itself or take a detour to change itself along the way, either. And motherfuckers are just going to have to deal with that.
Let's say the environment gang is right. Bitcoin is the worst thing to happen to the environment since the energy Microstrategy uses to power its operations. Guess what? Miners don't have to care. If they're smart, they will shrug this off and simply go on about their business. Anyone who starts reporting their usage or whatever to gain favor from institutions and governments who are opposed to miners having any sort of political power anyway are playing a stupid game. You play stupid games, you win stupid prizes. Prizes like unfair regulation, unfair taxation, and garbage people all in your fuckin business for no reason.
Saylor may have done this with good intentions or to protect his investment. He may have seen the dip and gotten scared like everyone who's not a real trader. OMG if I don't do something, my over-leveraged investment is going to go to 0. And assuming he has investors he reports to on a schedule, he can't show a 30% loss in his bitcoin holdings over the next quarter even if that dip is temporary. He has to do something. So he did.
Unfortunately, as much as Saylor has done for people's bags in the short term, bitcoin's future isn't dictated by Microstrategy's future. Mike, you take your dips like everyone else. You don't get to create a council to hedge your bet. It hurts bitcoin in the long run, and the idea will be rejected. If you really believe in bitcoin, then you'll accept the natural market that comes with it, dips and all. You'll wait for the reward at the end when bitcoin's price hardens as it rises and you can safely use it as collateral. That day is years off. But you don't get to jump the line, bro. You got in late. That's just it. We've all gone through it.
Another thing — giving Saylor license to do this just because he pumped bags in the short term is not the look. Bitcoin doesn't need marketing. Getting bags pumped in the short term is nice. It's not necessary. It's ice cream instead of vegetables. And it definitely doesn't give Saylor license to try to centralize bitcoin through councils. Bag pumps are not what changes the world. So Saylor didn't do anybody any favors by trying to market bitcoin to a bunch of new people who don't really get it. That's why the dump happened, not environmental tweets. Saylor's not a trader, so he wouldn't know that. The reasoning is simple. You get someone to buy something they don't really value, they're going to sell it quickly if the price starts looking bad. Saylor's "marketing" brought in a bunch of people who didn't value bitcoin as highly as they paid for it, so they dumped it the second Elon says something bad.
Roger Ver did a lot for the bitcoin space early on. Doesn't mean he gets to go in a back room with a bunch of bankers and fork bitcoin into his own private shit. BCH is still around, but it's never going to be bitcoin for that reason alone. It comes from shit philosophy. Same with Saylor. My vote, and it does count even though I'm not super rich, is to ignore this council bullshit garbage and move forward, steady as she goes.
And let's not forget, the environmental narrative is a fake one. What the fuck starting a council to defend against something that's not true. The fucking FUCK? GTFO
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