btcboy

"Fix the money, fix the world" | Portfolio: 100% $BTC $MSTR $ASST

[btcboy @21btcboy]

If this Cold Card attack had happened to an exchange, all of the "only bitcoin:native in self-custody" advocates would have thought "well that's what you get for keeping your bitcoin on an exchange!". There is no "well that's what you get for keeping your bitcoin in self-custody!" argument because keeping your bitcoin in self-custody has always been the most "morally correct" and "safest" thing to do.

This highlights a truth that NEEDS to be understood by everyone. All of your bitcoin in self custody is NOT the safest way to secure your bitcoin. You should diversify where you custody it.

This also should usher in the end of the "not your keys, not your coins" argument. No, it's still my bitcoin, even if blackrock, fidelity, or an exchange hold it. I mean, you can make the argument you never "own bitcoin" even in self-custody, you just have a different level of access to the network based on what form of custody you choose.

I love all forms of bitcoin adoption, including self custody. It does not make sense for most people to self custody their bitcoin.

My heart goes out to the victims of this attack. I cannot imagine how horrible it feels.

[btcboy @21btcboy]

I'm calling out a large faction of the community who has been hostile towards anyone who doesn't do self-custody only. These people have been a hinderence to adoption and are a net negative.

I believe in ALL forms of bitcoin adoption. I love self-custody and utilize it in my own portfolio. I do not like people who villainize all other forms of bitcoin adoption. They need to be publicly called out because if not, more incidents like this cold card hack will happen. It breaks my heart to see people lose their life savings because of something they may have been pressured into doing by bad actors in the community.

[btcboy @21btcboy]

"Begging BlackRock and Fidelity to save them" yeah that's cope.

All of these LARPers who think they are gonna save society by using bitcoin to purchase coffee just got the reality check they needed. They have always shamed, ridiculed, and bullied everyone into doing self-custody. A bunch of people probably got the coldcard because of these influencers, and now have had their life savings stolen.

In reality, blackrock, fidelity, and coinbase are much better custodians of bitcoin than most people. Unless you're a mega autist about the code and security of your bitcoin, chances are that the institutions will do a better job of securing your bitcoin than you will.

Unlike these influencers, I love EVERY form of bitcoin adoption. self-custody, on trusted exchanges, through the ETFs and $MSTR. These people who shame everything but self-custody have been rightfully silenced. Other forms of bitcoin:native adoption are viable and should be encouraged.

[btcboy @21btcboy]

So true. Your average "Walmart American" is never going to self-custody bitcoin. In fact, they probably won't even buy IBIT since many are clueless about investing.

However, they will want a bank account that gives them 9%+ interest, and that is what makes $STRC such an appealing product.

The "teach your Grandma to self-custody her coins" argument died yesterday. It's time to plan bitcoin:native adoption in reality, not in fantasy land.

[btcboy @21btcboy]

Those who have trusted Saylor with their capital through $MSTR are safe. Most of the people that have been unfairly disparaging him and his company are the same toxic "self-custody only" maxis who are now suffering from their own hubris. These same people would cheer if Strategy went to $0.

He owes them nothing. Him and his podcast appearances along with $MSTR have done more for bitcoin adoption than anyone else in the industry. He has helped everyone and yet has been attacked for the past year.

[btcboy @21btcboy]

@hthieblot Gamefudge was the best flash game website of all time. It fills me with nostalgia everytime I think about it. I remember being a little kid and playing the flash games for hours.

[btcboy @21btcboy]

I am starting to feel bad for the toxic bitcoin maximalists. First, they lose all of their bitcoin that they self-custodied on their cold card. Next, their BIP proposal fails miserably and gets exposed to everyone.

The price action is already hard enough. I can't imagine going through what they are. I would feel bad for a few of them if they weren't such hateful people like @mattkratter and @LukeDashjr. $MSTR shareholders always win over long enough time periods.

[btcboy @21btcboy]

It actually is heartbreaking to think about but this incident will be cited for the rest of bitcoin's history. "Not your keys not your coins" is dead and that's okay because it needed to die. It's okay to have someone else custody your bitcoin. Mine is safe because of that )and also with self custody).

[btcboy @21btcboy]

@toddfiebelkorn @BarbellFi No I genuinely think this guy is retarded look at his history

[btcboy @21btcboy]

@fundstrat please pump my bags United States Senate

[btcboy @21btcboy]

@BitPaine how I feel about the BIPtards and plebs on this app. They mean well, I hope the well-intentioned ones do well but...

[btcboy @21btcboy]

@asante_myles @BTCBreadMan yes lmao, i'm 100% bitcoin but it's diversified in where it's stored (exchanges, cold storage, $MSTR, $ASST). That's about as diversified as i'll get!

[btcboy @21btcboy]

Not only do you have to consider that, you have to consider opportunity cost and what the $1 million could be if you invested in literally any other asset (s&p 500, gold, bitcoin, valuable real estate). This is wrong on so many levels which is why I think this guy is either trolling or one of the least intelligent people in the finance space.

[btcboy @21btcboy]

@cryptogoos another dose of hopium

[btcboy @21btcboy]

@BitcoinMagazine

[btcboy @21btcboy]

The harsh truth is that many people should not custody their own bitcoin because they will do it in the laziest way possible. Most people in general are lazy with their finances and would never put in the work to self-custody.

It is perfectly reasonable to outsource that responsibility to a custodian like Fidelity or Blackrock. Today is a reminder for the insufferable "self-custody maxis" that hyperbitcoinization requires numerous different adoption paths. $IBIT and $MSTR are perfectly valid ways to incorporate bitcoin:native into a portfolio.

[btcboy @21btcboy]

I am tired of seeing your non-stop disrespect towards @saylor, a man who has done more good for the world and more good for the adoption and progression of bitcoin than you ever could.

I used to really respect you. I hope old age doesn't make me as bitter and full of vitriol as you have become.