Simon Dixon says we’re now in the “Wall Street Attack Phase”, a period where traditional finance will do whatever it takes to get our bitcoin.
The history of bitcoin has always been one of counterattacks, and this is just another chapter.
Hal Finney imagined a future where banks would hold bitcoin as reserves and settle with each other using it, integrating rather than replacing the financial system. But that doesn’t mean we shouldn’t stay alert to how easily integration can become capture.
In this podcast, Simon issues a series of serious warnings:
- Many underestimate what Wall Street is willing to do to take your bitcoin. Everyone’s going to go through some really hard lessons in the coordinated, engineered process to teach people they should have bitcoin in self custody.
- People come in for Number Go Up technology and until they go through a disaster, they don’t realise that money you can own and money you can spend is the real utility.
- The true utility of bitcoin is self custody.
- There’s a crucial distinction between bitcoin in custody, bitcoin in self custody, and everything else in crypto. If you don’t figure that out over the next five years, you’ll end up in a Universal Basic Income surveillance state, an Orwellian nightmare where you get the vaccine or you get negative interest rates.
Which side of that are you going to be on?
Simon predicts that anyone who does it through Wall Street via ETFs, pensions or bitcoin backed loans will see a repeat of 2021. They will live through another elaborate scheme that ends with your bitcoin in their wallets and under their control.
We will live in a two tier bitcoin system with Wall Street instruments on one side and bitcoin in self custody on the other.
Self custody is ultra ultra important for people to figure out.
My takeaway:
This
@Simon Dixon podcast with
@Bitcoin Archive could be one of the most important podcasts you listen to.
Please don’t lose your way. Remember why bitcoin is special, it’s freedom money, not a Wall Street instrument.
As Simon says, bitcoin is the opt out. It’s an exit from the system.
Watch here:
