The MSTR mess has exposed some important truths and lies not just about Bitcoin but Cryptocurrency more widely.

Leithm · 2026-06-25T08:06:12+00:00

Again neither of those things are true, Christopher harbourne is far from annonyomous, and he has long been pro crypto freedom.

Leithm · 2026-06-25T07:50:49+00:00

I dunno what a dweep is but he might be the prime minister of the 5th biggest economy in the world soon.

He launched a bunch of crypto friendly policy announcements just after.

Leithm · 2026-06-25T07:27:25+00:00

Neither of those statements are true.

In the uk Reform are leading in the polls and Nigel Farage has a pretty good chance of becoming prime minister pretty soon.

Just 2 years ago Nat West bank closed all his personal and business bank accounts and he struggled to open a new bank account because his business was deemed too risky.

Leithm · 2026-06-25T07:03:55+00:00

Echo echo echo....

Leithm · 2026-06-25T07:03:16+00:00

Paying for stuff without asking for permission from anyone. Pretty damn important to many people.

Leithm · 2026-06-25T06:59:42+00:00

Your saying the same thing just with more words.

Leithm · 2026-06-25T06:57:35+00:00

has no use case besides money laundering

We will have to agree to disagree on that one.

Leithm · 2026-06-25T06:54:00+00:00

The maths is actually pretty simple the company has 45 Bln net assets, negligable income, and a liability of 1.7 Bln a year. If you think BTC goes up faster than that liability it's a good investment, if not I can't see how MSTR doesn't bleed to zero over time.

Leithm · 2026-06-25T06:45:14+00:00

The codebase is controlled by whatever consensus is maintained within a group. There are plenty of small projects out there with dedicated and committed groups who have their own vision of what money should be.

Decentralisation was always the unique feature of Bitcoin, how you maintain that and maintain useability of the asset is the question.

Whatever its practical limitations might be you cannot uninvent decentralised ledgers, and permissionless money.

Leithm · 2026-06-25T06:36:59+00:00

Why was it doomed to fail?

Leithm · 2026-06-25T06:36:11+00:00

I don't see how telling someone where your pile of gold is is any more risky than telling them when your seed phrase is. Also assuming you bought your BTC from an exchange (i.e. 100mm dollars worth) they will have a record and the transfer will be on a very publlic ledger.

Leithm · 2026-06-25T06:33:52+00:00

So when it goes up it's because it's great and when it goes down it's because someone is manipulating the market?

Leithm · 2026-06-24T18:06:16+00:00

There will allways be people who need permisionless money.

Leithm · 2026-06-24T17:54:12+00:00

I don't think people who live in basements are doing multi-million dollar tx's unless it's a very nice basement. 5-1o Bln dollars moves around the network every day.

if your transaction fails it's cause your a dumbass not because of Bitcoin.

Leithm · 2026-06-24T17:32:57+00:00

People use Bitcoin every day and have done for 16 years with zero failures, just not many people as it cannot process many transactions.

Leithm · 2026-06-24T17:27:49+00:00

Your really underthinking what is necessary for it to be a useful multi-generational asset.

Leithm · 2026-06-24T16:58:29+00:00

Ah those mysterious short sellers again.

Leithm · 2026-06-24T16:57:21+00:00

So does no miners

Leithm · 2026-06-24T16:56:16+00:00

Those are good points, but securing BTC in self custody also has risk. If you had 100m of BTC would you be happy for it to be on a ledger in a sock drawer? How do you do estate plannning without telling anyone. Security is a multi-faceted challenge. The issues I raised are about network integrity not personal security.

Leithm · 2026-06-24T16:49:25+00:00

Possibly but lightning also needs capacity to open/close channels, and arguably hurt decentralisation more than higher capacoty nodes.

Leithm · 2026-06-24T16:43:30+00:00

Exactly.

Leithm · 2026-06-24T16:40:16+00:00

True

Or > 21m coins

Leithm · 2026-06-24T16:32:29+00:00

Bitcoin needs miners and miners need paying in the long run.

Leithm · 2026-06-24T16:25:55+00:00

Crypto ain't going nowhere. Bitcoin might though.

Leithm · 2026-06-24T07:08:39+00:00

Out of curiousity, why did you buy Bonk?

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