Bitcoin
Michael Saylor’s 21 Rules for Bitcoin Calls Bitcoin ‘Chaos’ and an ‘Economic Virus’
In his talk at BTC Prague, MicroStrategy CEO Michael Saylor articulated a vision in Bitcoin as the world’s first perfect money, a profound innovation with the potential to reshape economic and political systems globally. Drawing parallels to historic scientific revolutions, Saylor positioned Bitcoin as a disruptive economic force, ushering in a new era of financial insight.
Saylor’s presentation seemed more like a sermon than a lecture, reminiscent of a church pastor preaching to his flock about salvation. Unlike a religious leader, Saylor’s sermon focused on reaffirming and encouraging the audience to believe in Bitcoin, not in God, not in himself, not in his company, in a cultural personality, nor in anything other than the self-sovereignty and the “perfection” of Bitcoin. One of his final lines about those who sell Bitcoin was:
“Satoshi forgive them; They don’t know what they’re doing.”
Saylor introduced a concept he called the “21 Rules of Bitcoin.” While he acknowledged the subjective nature of these rules, he framed them as guiding principles for understanding and adopting Bitcoin. According to Saylor, those who understand Bitcoin invariably choose to invest in it, while those who don’t understand it tend to criticize it. This dichotomy emphasizes a fundamental paradigm shift where traditional perspectives on money and value are challenged.
Michael Saylor’s 21 Rules of Bitcoin
- Those who understand Bitcoin buy Bitcoin. Those who do not criticize Bitcoin.
- Everyone is against Bitcoin before they are for it.
- You know you understand Bitcoin when you know you will never fully understand Bitcoin. You will never be done learning about Bitcoin.
- Bitcoin is powered by chaos.
- Bitcoin is the only casino game where we can all win.
- Bitcoin will not protect you if you do not wear the armor.
- Bitcoin is the only thing in the universe that you can actually own.
- Everyone gets Bitcoin at the price they deserve.
- Buy Bitcoin only with money you can’t afford to lose.
- Tickets to escape the matrix cost in Bitcoin.
- The view of Bitcoin is restricted to those who need to know.
- All your models will be destroyed.
- The cure for economic ills is the orange pill.
- Be for Bitcoin, not against the decree.
- Bitcoin is for everyone.
- Learn to think in Bitcoin.
- You don’t change Bitcoin; it changes you.
- Laser eyes protect you from endless lies.
- Respect Bitcoin, or it will make you a clown.
- Do not sell your Bitcoin.
- Spread Bitcoin with love.
One of Saylor’s key points was Bitcoin’s intrinsic value as “perfect money,” contrasting it with historical and contemporary forms of currency such as shells, tobacco, and fiat money. He emphasized that the value of Bitcoin does not lie in the appreciation of assets, but in realizing its absolute value in a distorted financial landscape. This shift in perspective, similar to a scientific revelation, forces individuals to break away from conventional thinking and embrace Bitcoin’s innovative structure. He reiterated that everyone gets Bitcoin at the price they deserve and seemed pleased to lose Bitcoin at $950.
“I got the price I deserved and I started buying for $9,500, but that’s okay, I’ll buy for $95,000 and $950,000, and I’ll buy for $8 million.”
Saylor also highlighted Bitcoin’s unique position as an “economic virus” that will permeate layers of society and technology over time. He argued that a proper understanding of Bitcoin requires an appreciation of its long-term potential and impact on future generations. This perspective requires continuous learning and adaptation, recognizing that Bitcoin’s influence will evolve with technological advances and social structures.
Addressing the volatility and inherent risk of traditional investments, Saylor presented Bitcoin as a hedge against chaos and entropy. He compared Bitcoin to a refuge in a world characterized by instability, drawing a historical analogy with the stability of Swiss banks during World War II. This perspective frames Bitcoin as a resilient asset capable of withstanding and benefiting from global economic turmoil.
“Are you in the business of profiting from chaos or stopping it? You can’t stop entropy […] Bitcoin is the house of chaos – anyone who wants to play this game can keep winning.”
Saylor further articulated that Bitcoin represents true ownership in a world where external entities control the majority of assets. He emphasized decentralization and secure nature of Bitcoin, making it the first asset in human history that individuals can genuinely possess without relying on intermediaries. This principle of ownership is fundamental to understanding Bitcoin’s value proposition. He argued against the concept of investing only what you can afford to lose, instead advocating investing the money you can’t afford to lose in Bitcoin.
“When you say only invest with money you can afford to lose, you are making the moral equivalence of gambling with the odds against you […] Nobody says just put the kids on the school bus and you don’t need me to come back.”
In closing, Saylor emphasized the importance of spreading Bitcoin adoption through positive engagement rather than confrontation. He advocated a compassionate approach to educating others about Bitcoin, emphasizing that resistance often stems from a lack of understanding. By promoting Bitcoin with love rather than hate, advocates can promote broader acceptance and accelerate global adoption of this revolutionary technology.
Saylor’s talk at BTC Prague was a call to embrace the transformative power of Bitcoin. His “21 Rules of Bitcoin” are a roadmap for understanding and navigating this new economic paradigm, emphasizing continuous learning, resilience against chaos, and a compassionate approach to spreading the benefits of Bitcoin. benefits.