Vitalik says that Saylor's Big Bank BTC custody comments are batshit insane

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@VitalikButerin
@VitalikButerin
Replying to @lopp

I probably did more than most to spread the "mountain man" trope (btw I consider those remarks of mine outdated; snarks and AA changed the tradeoff space completely), and I'll happily say that I think @saylor's comments are batshit insane. He seems to be explicitly arguing for a regulatory capture approach to protecting crypto ("when you have regulated public entities like Blackrock and Fidelity and ... holding the asset, all the lawmakers and law enforcement arms are invested in those entitites"). There's plenty of precedent for how this strategy can fail, and for me it's not what crypto is about.

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Vitalik says that Saylor's big bank BTC custody comments are batshit insane

submitted bymacbudkowski.eth5,7682y
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Vitalik Buterin calls Michael Saylor's comments on Bitcoin custody "batshit insane" and says the approach is not what crypto is about. He says Saylor is explicitly arguing for a regulatory capture approach to protecting crypto, quoting Saylor's point that when regulated public entities such as BlackRock and Fidelity hold the asset, lawmakers and law enforcement become invested in those entities. Buterin says there is plenty of precedent for how this strategy can fail.

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macbudkowski.ethSubmitter· 2 years ago
Here's the interview with Saylor where he said the things quoted by Vitalik:
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tim· 2 years ago
Credit where credit is due though: BTC reached a new ATH, ETH didn‘t
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