Home > bitcoin > Bitcoin, Reservoirs, Refrigerators, And Batteries

Bitcoin, Reservoirs, Refrigerators, And Batteries

Bill Maher went on a lazy ass, anti-Bitcoin rant a couple of weeks ago on his show. Since Bitcoin is proudly 12 years old and no new, unexpected FUD has popped up for several years, there was nothing new in Bill’s misinformed soliloquy. He should invite a prominent pro-bitcoiner like Michael Saylor, Dan Hodl, Jimmy Song, Goaty McGoatface, or Andreas Antonopoulos to come on his show in the future to joust with.

Bitcoin poet Michael Saylor was invited on KITCO news to rebut Mr. Maher’s well worn criticisms of Bitcoin, one point at a time. Just listen to how Saylor eloquently destroys each of Bill’s superficial misstatements. If you’ve never heard Michael wax eloquent on Bitcoin and its future, you’re in for a treat. So, keep your perv eyes and thoughts away from the hostess and absorb what the bard of bitcoin has to say below.

Of particular interest to BD00 was Saylor’s genius takedown of the old Ponzi scheme, “greater fool” theory, previously spewed by Munger/Buffet and other high profile rich dudes averse to having their feeding trough rekt by Bitcoin.

It goes something like this:

  1. People store water in a reservoir not because they want to sell it to an outside “sucker” at a higher price. They store it because they may need it badly in the future to mitigate catastrophes.
  2. People store food in a refrigerator/pantry/freezer not because they want to sell it at a higher price to someone else later on. They store it there for their own personal consumption at a future date.
  3. People don’t store electrical energy in batteries to sell them to a greater fool at a higher price later on. They store it to personally use it later on.
  4. People store economic value in newcomer Bitcoin and ancient gold to personally hedge against incompetent governments and central banks from exploding traditional fiat-based assets, savings and rekking their citizenry. Some people (traders, speculators) sell Bitcoin to others at a higher price, but that’s true of owners of any asset.
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