A lot of the time this kills you, it's going to be in conjunction with Underworld Breach and either Lotus Petal or Lion's Eye Diamond
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If you counter a problematic permanent before it enters the battlefield, it ends up in the graveyard same as if it had entered the battlefield and you removed it
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Also, probably need some other protection against GY hate in addition to Stifle and Louisoix's Sacrifice
What's great about this power in EDH is you can leave it up as protection for your own permanents against removal, while also threatening to nix the worst thing on the board