Daniel George

I own zero STRC. I have never owned any STRC. I prefer Bitcoin. I have made posts about how economically stupid it is to buy STRC and use the dividends to buy Bitcoin. I still hold this opinion. STRC is not a replacement for Bitcoin. STRC is riskier than self-custodied Bitcoin. You are accepting counterparty risk by owning STRC. But if we somehow do not orange-pill the 640 million retirees in this world by next week, I would rather have them take their capital and buy STRC so it ultimately flows to Bitcoin. They get an 11.5% yield in exchange for capital that goes to Bitcoin. I would rather have them do this to A) have a better life with more income and B) stop funding the government deep-state pedophiles while getting paid one-third the amount. I do not believe STRC is competing with capital that would otherwise be sitting on a Ledger wallet. STRC is not my ideal. Bitcoin is my ideal. But STRC can improve the quality of people’s lives on a relative basis, and I prefer that over the alternative if a guy who cannot properly use a McDonald’s self-order kiosk is not mentally equipped to self-custody his wealth in an asset that routinely drops 50%. We need to be pragmatic. The Bitcoin network is a little over $1 trillion. The debt market is 300x that. Some of that capital going to Bitcoin is a great incremental win for the network, and some lives can be improved instead of the alternative: living off 4% T-bills. Hypothetically speaking, if the bond market were Trojan-horsed with STRC and it drove Bitcoin to $1 million, I think the positive network effects for Bitcoin would be staggering. Stories matter. Narrative matters. Bitcoin at $1,000,000 draws a lot of eyeballs to the network. We cannot let perfect continue to be the enemy of good. If you are allergic to this level of nuance, please do some inner reflection.