RE: Saylor video miner mention9 Nov 2021 11:32
It’s very worthwhile to listen to that whole Saylor interview, imho.
“If you read the President’s working committee report last week, you know that there’s active review of all the DeFi protocols at the administration level and the writing is on the wall. It’s pretty clear that most of them are securities, others are commodities and derivatives. It’s likely that the regulators are going to apply regulatory oversight to the DeFi exchanges that handle all those tokens and all the developer groups that actually handle them.
So, the question is, do they pass the Microstrategy test, for institutional investment? Will it be banned, can it be copied, can it be hacked? For Bitcoin, the answer is no, no, no. The answer for everything else is, yeah, of course they are going to be banned, and can they be copied? look, there are already 48 dog coins, ten Elon Musk coins and two Saylor coins. They’re getting copied every hour, right? And will they be hacked? They get hacked every week. And so, there’s a massive amount of uncertainty and risk that you’re taking on there.”
“Bitcoin is the only truly decentralised commodity.”