BTCbello

I need a $10,000,000 loan.

Saylor is promoting Ethereum. Saylor is promoting the Runes protocol on the Bitcoin network. Saylor is promoting issuance of stablecoins on the Bitcoin network. Saylor is promoting issuance of staking tokens on the Bitcoin network. Saylor is promoting the use of the Bitcoin network to support tokenized synthetic bitcoin tokens on L2s. Saylor is telling folks to exchange their BTC for stablecoins, in part so they can earn yield on those stablecoins. That yield is provided by STRC, which is purchased by entities within the stablecoin ecosystem described above. Saylor/Strategy then takes the proceeds from those entities buying STRC and buys a boatload of BTC themselves. Saylor use to tell folks to buy and hold BTC, there is no second best. Saylor now tells folks to buy a security or a stablecoin instead. Here's what's involved in the stablecoin money flow. Two different stablecoins, one riding on Ethereum, one riding on Bitcoin. Two different staking tokens, one on Ethereum, one on Bitcoin. One synthetic bitcoin token riding on an L2, which uses the Bitcoin network. One security, and last, but not least, some actual bitcoin. What could possibly go wrong? Here's the kicker, in that whole process, the only entity not buying and holding BTC is the individual customer. It's an unbelievably complex thing. I'm almost hesitant to even post this out of fear I'm going to look like an ass because there's no way this monstrosity could exist, and I'm just making shit up. Who knows maybe I've misunderstood it all, but I don't think so. Taproot and OP_RETURN are the two key aspects of the Bitcoin protocol enabling the Bitcoin network to be used for all this non-bitcoin stuff. All except Strategy are VC-backed. Here are all the entities, protocols, outputs and tokens involved for the privilege of exchanging your BTC for a yield bearing stablecoin: Hermetica (USDh, sUSDh) enabled by Runes/OP_RETURN on Bitcoin. Saturn (USDat, sUSDat) on Ethereum. Stacks (sBTC) on bitcoin L2, enabled by Taproot on Bitcoin. Strategy (STRC, MSTR) - securities.. Oh and some BTC, mostly flowing away from the individual into STRC. Unbelievable. No way this will turn into another FTX, BlockFi, Celsius, Voyager, Three Arrows Capital, etc.. No way. This time is different. How do you sleep at night Saylor?

Never would I have believed five years ago that I would be attacked, smeared and harassed by Adam Back, Shinobi, MrHodl and others for publishing a fully sourced investigation article about Bitcoin Core governance. It doesn't quite feel compatible with the whole "don't trust, verify" and decentralization mantras. It really is an unbelievable state of affairs. Appeals to authority, shaming, ad hominems, smears.... Zero engagement with the imo shocking revelations of the articles.