Patrick Boyle goes in on Strategy and Bitcoin Treasury Companies \ stacker news ~econ

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Patrick Boyle goes in on Strategy and Bitcoin Treasury Companies youtu.be/fhsrkvEY55s

860 sats \ 5 comments \ @BlokchainB 8 Dec econ

I was with him on his criticisms of Bitcoin treasury companies until the point when he compared Bitcoiners to ICP jugglos. Basically saying Bitcoin has no use case and stablecoins can make private payments better than Bitcoin.

He also mentioned how Bitcoin has no value and the price trades on a greater fool looking to speculate. Made a comment about only fools buy gold over buying equities where humans are running a business and returning profits to its Shareholders. Saying buying gold is destroying capital for a shiny rock.

I was a big fan of Boyle his humor and economic analysis is something I always enjoyed but it appears this guy doesn’t have the concept of money.

It’s crazy to me that these guys with large followers can still be this oblivious to bitcoin and its benefits. It’s been up and running 99.9999% since it started. You can payments around the world without a third party without permission! It has massed a cash balance of over $1T in under 20 years bet yet it still has no use case?!?

I see how people who don’t have a strong conviction can watch this video and call us clowns and call Saylor a clown but then go on ahead and buy Ford or Meta stock and be happy.

I am starting to question guys like this and Schiff. Are they paid opposition? To keep the masses guessing and off balance? Or are their egos so huge they refuse to acknowledge they missed out on the greatest financial engineering creation and missed out on the generational wealth they could have secured for themselves.

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302 sats \ 0 replies \ @fourrules 8 Dec

Unfortunately Patrick Boyle gets 80-90% there, but fails the ego test. He really just wants to be popular at the end of the day, like anyone creating YouTube videos, chasing likes and views

185 sats \ 0 replies \ @SimpleStacker 8 Dec

I agree. His critique of the Bitcoin Treasury Companies is spot on, as well as calling Saylor's strategy "hype capitalism".

But his understanding of bitcoin at a more foundational level seems quite lacking. He said that the only reason bitcoiners expect the number to go up indefinitely is because we thought Saylor's infinite money glitch would work. Uh... that's not true at all. Bitcoiners like @denlillaapan have been calling Saylor out for a long time. I think Boyle would've done himself a favor if he tried to talk to an actual Bitcoiner. Maybe the problem is that the "face of Bitcoin" is currently just these idiot Michael Saylor memelords, and so normies don't know who to actually talk to to get a more accurate picture of bitcoin.

71 sats \ 1 reply \ @teemupleb 8 Dec

The dude in the video: Conflates Bitcoin with crypto tokens within the first 20 seconds: “they’re basically the same”.

Me: closing the video because clearly the guy hasn’t done the work.

0 sats \ 0 replies \ @BlokchainB OP 8 Dec

Hahaha

51 sats \ 0 replies \ @bitcoinawareness 8 Dec

Bitcoin treasury companies should make Bitcoin what it is intended to be: money. https://bitcoinawareness.substack.com/p/whitepaper-strategic-framework-for-bitcoin-treasury-companies