21 Rules of ₿itcoin - Michael Saylor

[PrivacyG]

I also do not agree with just some of them quotes here or most of the tantrums that Michael Saylor is saying every time just to make himself appear as a backbone behind bitcoin. But specifically that number 14th I disagree with you and agree with Saylor. Fiat issue giving birth to coming of bitcoin doesn’t mean we should hate Fiat. This particular wrong narrative has spread for long that you need to hate fiat before been a full time bitcoin maximalist.

Satoshi himself had said bitcoin is here as an alternative to fiat and not necessarily a full time replacement of it. For someone like who find bitcoin so much interesting I don’t think I need to hate fiat currency to do that, rather I stopped using it because it doesn’t aligns with my use of money but I don’t have to hate it. So yes you can be all for bitcoin without hating fiat. 

I would have agreed with you if Fiat was not so bad that it got Satoshi wanting to create an alternative to it and if it was not as easy as pushing a button to hyper inflate it and make it worth toilet paper.

I know it is what we use to purchase food and other essentials.  To pay our bills, rent et cetera and it is the form of payment for a job.  But it does not mean it is entirely functional and worth it as it is.  Yes, I will hate the Currency that chains us to the system.  I will obviously hate the Currency that represents debt and nothing more.  Look at what Bitcoin has done.  You could have put all your life savings in it 10 years ago and you would have been probably retired by now.  Fiat does what?  Allows us to work for 40 to 50 years and still be buried in debt and get to retire with almost nothing?

Our house bought 50 years ago for 50 thousand Dollars is now worth 1 Million Dollars.  Great, I am a millionaire.  Now check the inflation and see how you have actually worked like an idiot for all your life thinking you are becoming worth more and more, worked 50 years to 'become a millionaire' when in fact you never progressed at all.  You actually stagnated thanks to Fiat.

How can I not hate Fiat again?

[Miles2006]

A promotion scheme or what exactly? I mean coming from a well known entrepreneur I doubted for a second yet bitcoin is worth talking about mostly where there’s a large audience. This post is not a recent one, the fact op posted about this now seems like a motivation regarding bitcoin price, number 15 is actually my favorite because many view bitcoin as an investment meant only for the rich meanwhile anyone who’s financially capable can invest at their own discretion and investing doesn’t require large amount except a person is capable to lump sum on daily basis.

[Floxynice]

Number 3 got me laughing. I can still remember how I used to talk down on Bitcoin and those who invested in it. It just didn't make sense to me that people were risking their money for something online. I have had my own fair share of disappointments in the past regarding crypto investments and like every other disappointed investor, I assumed that bitcoin fell in thesame category with altcoins. Here I am now and I know better.

[Nothingtodo]

#20, You will not sell your Bitcoin.
This is very important, especially in the life of Michael Saylor, who is following this very seriously. Especially, he is constantly buying Bitcoin but not selling Bitcoin.
We need to apply the statement number 20 in our real life as well, especially if there is a bad impact on the market at different times, we sell Bitcoin out of fear during those bad times, but this should not be done and Bitcoin should be held patiently and it is never right to sell Bitcoin until a target price is reached.

[Alphakilo]

https://x.com/saylor/status/1891492169409593715?mx=2

Something to ponder to all Bitcoin's enthusiast. I like number 17 though, and I think most of us can relate to it. Prior to Bitcoin, we might not be aware of how investment works. And when we involved ourselves to it, it changes everything on how we see fiat, how everything boils on our mindset with regards to investment that can also be applied to all any other assets.

I had to quote the entire post, so that it sticks to my timeline where I can read it over and over again.
It's funny though how Bitcoin shouldn't be sold, according to number 20.
Isn't Bitcoin also a currency that can be used to pay for transactions and payments, besides it being digital gold and a great store of value for both institutional adapters and individuals?

Anyone can make some rules about Bitcoin , but the fact is the fact and that is that, Bitcoin is here to stay and would make some persons who have already taken the initiative to invest, billionaires or double of that, because it is a wealth investment that requires proper planning for the near future benefits.

[rbynxx]

The only thing that I probably will not follow is the rule #20. There's no way you wouldn't sell at some point. We know Saylor is a BTC maxi but I think even some maxis will sell.

Saylor is simply just trying to encourage long term holding but even I do not agree with Saylor on this, because even if you’re not selling then you are using it as a payment method to pay for this, without any of this you’re definitely not providing good usage to your bitcoin which is actually against the first reason for bitcoin inception which is to be use as a currency.

Come to think of it Microstrategy was reported to have sold some bitcoin back in late 2022 if I am not mistaken.

Exactly. It was designed as peer-to-peer in the first place and to not use the basic usage on why it was invented I think that's clearly not aligning with Satoshi's vision.

Yeah there has been some reports that they sold and I think they deny that allegations.

[PrivacyG]

#20, You will not sell your Bitcoin.
This is very important, especially in the life of Michael Saylor, who is following this very seriously. Especially, he is constantly buying Bitcoin but not selling Bitcoin.
We need to apply the statement number 20 in our real life as well, especially if there is a bad impact on the market at different times, we sell Bitcoin out of fear during those bad times, but this should not be done and Bitcoin should be held patiently and it is never right to sell Bitcoin until a target price is reached.

Sure.  Buy every thing and never sell, you will obviously become a billionaire really quick.

He is selling this cult like B S and it is hard to buy it when you do not follow him obsessively.  I get it is interesting that he is holding so many Bitcoins.  But he is holding a dangerously large amount of Bitcoin.  If we were scared about Satoshi selling a million Bitcoin and he never did it, this is the second chance we get of the scare.

[Churchillvv]

I like the fact that Micheal Saylor has a good number of investment in bitcoin but remember this if you who seem to celebrate his post on X as bitcoin itself, just have it the back of your mind that bitcoin has no CEO, Micheal Saylor is an investor not satoshi.

I’m not even convinced with some of the shits he calls rules, I can say they are more like hidden memos that are in bitcoin it’s just figured out as time passes with your involvement in it.

[serjent05]

Rule 21: Spread Bitcoin with love -  Michael Saylor is heavily invested in Bitcoin, this rule is crucial for his company. He needs to encourage and persuade people to spread and promote Bitcoin so that his holdings won't continue to have unrealized losses.

So, spreading Bitcoin, what is it for me (question of a non-holder)?  There is no affiliate system where I can earn when I get someone heavily invested to Bitcoin.  If Bitcoin crash big time, I will suffer the backlash of people blaming me for introducing Bitcoin to them.  Just being cynical here, but well holders benefit when Bitcoin propagates.

Rule 20: You do not sell Bitcoin  -  how can someone realized gain if they do not sell their Bitcoin?  Or if we do not use them for transactions to pay, what use could Bitcoin be?

[Popkon6]

Here are 21 reasons that are quite appropriate and reasonable, but prove that it is definitely possible to improve your life by investing in Bitcoin. Bitcoin is ready to make everyone and every person self-sufficient if they patiently hold their investment for a long time. Bitcoin is suitable for investment in every case, so holding Bitcoin for a long time is the best plan, Bitcoin plays a sufficient role in eliminating economic deprivation in the future.

[Sandra_hakeem]

There are multiple 'rules' I do not agree with, but particularly number 14.  Be for Bitcoin, not against Fiat?  Why?  If Fiat was great, Bitcoin would not need to exist.  Fiat is pretty much what brought Bitcoin in to existence.

Get it? So, the new strategy is trying to fit both currencies in the system so they can coexist? What's the logic in that, if not that they still need partial/ if possible, complete access and control?

I am against Fiat and will always be.  I can not escape it and I am aware of this.  But I am not going to not be against it considering how much harm it is doing to the entire World.  It is as toxic of a Currency as it can be and it will always be on a constant edge of failure.  I would in fact advise that more people be against Fiat too.  Even if they do not like Bitcoin.

It's not even about what you advice people to do, especially since everyone is entitled to their discretionary funds, but we've all witnessed the effect of their policies, so why should anyone not be against Fiat? Just doesn't add up!

  If we were scared about Satoshi selling a million Bitcoin and he never did it, this is the second chance we get of the scare.

It's good to create a Buy-only habit, but Satoshi selling off a million Btc is bs!

[Josefjix]

Whoever understand Bitcoin buys it;

Whoever had been in the space for longer period of time had been studying Bitcoin and had regretted over time for not grabbing some quantity whenever at the poorest price point, those who had witnessed the struggle and the benefits off it many times will never ever want to sell Bitcoin.

Instead, they keep buying more and more no matter the dip in price.

[Wind_FURY]

9. Only buy Bitcoin with the money you can't afford to lose

After watching this my friend rushed to buy Bitcoin by selling his all property  .
Newbie's are rushing to DCA with all the funds
I'm taking loan for my life buying Bitcoin .

Jokes apart Saylor is die hard fan of bitcoin. He's a funny guy but one with actual wise one.

That's stupidity. Selling real estate/a house to buy Bitcoin because a person believes that "he/she will gain profit faster" is a bad strategy. It would only be better to denominate in Bitcoin if you have excess fiat sayings OR if the "property" being sold is a car or something that depreciates.

[Catenaccio]

https://x.com/saylor/status/1891492169409593715?mx=2

Something to ponder to all Bitcoin's enthusiast. I like number 17 though, and I think most of us can relate to it. Prior to Bitcoin, we might not be aware of how investment works. And when we involved ourselves to it, it changes everything on how we see fiat, how everything boils on our mindset with regards to investment that can also be applied to all any other assets.

The 21 points shared by Saylor are all great but I dislike that he did not mention any point about risk management. It is not only important but also very vital for success of any Bitcoin investor. Perhaps he intentionally ignored this point on risk management because his company has made bad risk management.

Additionally, I would like to share another 21-point, but on security.
21 tips for securing your bitcoin.

1 — Don’t trust unsolicited communications (email, direct message, SMS text message, phone call, etc.)
2 — Use a password manager
3 — Don’t store seed phrases in a password manager
4 — Avoid using SMS text messages for two-factor authentication
5 — Don’t give out your main phone number
6 — Hold your own keys in self-custody
7 — Take self-custody in amounts of at least 0.01 BTC
8 — Don’t talk about your bitcoin
9 — Use ad blockers
10 — Keep keys offline
11 — Use a multisig wallet for long-term holdings
12 — Avoid having immediate access to your long-term holdings
13 — Perform health checks on your devices every six months
14 — Control access to your devices
15 — Have an inheritance plan
16 — Don’t allow your seed phrase backups to be a single point of failure
17 — Don’t settle for bitcoin IOUs
18 — Don’t install remote-access software
19 — Don’t roll your own security
20 — Don’t flaunt your wealth (especially on social media)
21 — Don’t rely on your memory

[Lucius]

Sure.  Buy every thing and never sell, you will obviously become a billionaire really quick.

He is selling this cult like B S and it is hard to buy it when you do not follow him obsessively.  I get it is interesting that he is holding so many Bitcoins.  But he is holding a dangerously large amount of Bitcoin.  If we were scared about Satoshi selling a million Bitcoin and he never did it, this is the second chance we get of the scare.

He needs a cult following to succeed, because if the idea is that we all buy Bitcoin and never sell/do anything with it, then what's the point of us all having something that doesn't really serve any purpose other than to brag around?

As things stand, it seems that more people believe that the businessman will never sell his BTC, and they are afraid that Satoshi, who has never shown any interest in the financial aspect of his creation, will do so? Honestly, it seems to me that Saylor is still relatively unknown globally as someone who has over 700k BTC, I have never heard anyone mention him in my local media, although they often mention Bitcoin.

[Free Market Capitalist]

He needs a cult following to succeed, because if the idea is that we all buy Bitcoin and never sell/do anything with it, then what's the point of us all having something that doesn't really serve any purpose other than to brag around?

Well, but he doesn't seem to be succeeding much lately. In addition to changing his mind several times, for example, his own company recently expressed the possibility of selling Bitcoins.

He could stop with all the theory about rules and bet on his company's value instead of destroying it.

The problem with this type of evangelism is that just as you convince people when everything is going well, the same people who believed you will consider you a mere charlatan when they see that what you say no longer corresponds to what is happening.

[Smartprofit]

I think it's too early for Michael Saylor to explain Bitcoin to people. He himself doesn't yet understand what Bitcoin is. 🙋 I'm not even sure he's read the white paper.

In particular, he doesn't understand that Bitcoin's fundamental value lies in its decentralization. Just recently, he publicly advocated for centralized Bitcoin storage in Coinbase vaults. He was heavily criticized for this statement. He pretended it was just a slip of the tongue, but I think he simply fails to recognize the value of decentralization.

His idea that Bitcoin coins should be completely removed from circulation smacks of madness,

Michael Saylor actually reminds me of Smaug the dragon from Tolkien's book. 🐲He wants to buy up all the Bitcoins and then lie on a mountain of wealth, enjoying his power. But with Bitcoin, it's different.  If Michael Saylor bought up all the Bitcoins and took them out of circulation completely, the price of Bitcoin would be zero...😃

Someone tell him about this!🙆

[Lucius]

He needs a cult following to succeed, because if the idea is that we all buy Bitcoin and never sell/do anything with it, then what's the point of us all having something that doesn't really serve any purpose other than to brag around?

Well, but he doesn't seem to be succeeding much lately. In addition to changing his mind several times, for example, his own company recently expressed the possibility of selling Bitcoins.

He could stop with all the theory about rules and bet on his company's value instead of destroying it.

The problem with this type of evangelism is that just as you convince people when everything is going well, the same people who believed you will consider you a mere charlatan when they see that what you say no longer corresponds to what is happening.

Of course he doesn't succeed in that, because few people can afford to do what he does. The average Joe is mostly looking for a quick money-making opportunity, and he still considers money invested in Bitcoin to be a big risk. Saylor obviously threw everything at BTC and it's his business decision, but I still think he's overdoing things like these orders/rules or whatever.

It is often mentioned that the people around BTC are like some kind of sect that wants to overthrow the world order, they have dangerous ideas, pollute the environment and launder money for drug cartels - and then a man who has over 700k BTC plays the Messiah, and on the other hand, he can easily turn into Judas.

Of course they will sell if they are forced to do so, they can't just buy forever, especially if we really fall into a long winter and the price of BTC drops to even lower levels.

[MusaMohamed]

Of course he doesn't succeed in that, because few people can afford to do what he does. The average Joe is mostly looking for a quick money-making opportunity, and he still considers money invested in Bitcoin to be a big risk. Saylor obviously threw everything at BTC and it's his business decision, but I still think he's overdoing things like these orders/rules or whatever.

He and his company have better financial conditions than many Average Joes but the Strategy's investment strategy in Bitcoin has been escalated more risky in recent months. I don't see this risky escalation from Strategy is good for their Bitcoin investment and treasury while it can cause big problems to their company in the future. They're not like a too big company to collapse and they seem to be over confident about their strategy as well as safety of their company's Bitcoin treasury in this volatile market as well as pressure and even attacks from Wall Street on MSTR stock.

I agree with you that Average Joes can not blindly try to apply Strategy's risky strategy.

[ScamViruS]

I don't consider these as rules, this can actually be considered as advice. Because there are many things here that I don't agree with, the main reason is that everyone's thinking and perspective are different. We need to take appropriate steps to see how Bitcoin can positively impact our lives, which we can take as advice from here.

A Bitcoin investor can make good gains from Bitcoin by buying Bitcoin and can change his life, and to change his life, he must sell Bitcoin. Buying and selling Bitcoin is a regular activity of Bitcoin investors.