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@denlillaapan
1,257,959 sats stacked
stacking since: #724606longest cowboy streak: 269npub1y0gaj...zdlsf5jxa0
0 sats \ 0 replies \ @denlillaapan 3h \ on: Strategy Is the Mother of All Bitcoin Treasuries bitcoin
obviously
ah, fuck. Yes -- I have an exclusive book review for you.
Remind me if I don't make time for such a post by the next weekly update!
eh, being on the handling side of "what peeps submit to us" I'm gonna say with even more authority, that no, we absolutely do not
I literally wrote the Ponzi article for the premier outlet. There's ~50 SN posts on me ranting against BTCTCs.
I have the credentials.
EXCELLENT idea: ruin your product and annoy your core users... just to spite good ole' Den and win, what 200k sats...?
“Does he work out?”, she asked. Now how the hell am I supposed to know if Robert Breedlove works out? “It looks like he does”, I said. “Sure does”, she responded, staring at the screen and not even looking over at her old, fat husband. After the podcast was over, she wanted to watch another episode.
HAHAHHAHA, yeah man. Monetary blah-blah, surveillance/censorship BOOOORING...
... oh, hot af guy talking shit? Yeah, LFG!
true.
and does anybody doubt that we have "enormous inefficiencies in our capital markets" between a) jurisdictions, b) those markets (really: pension accounts, mandates) and bitcoin itself?
People are scared by the concept of self-custody. They are scared by cryptography. They are scared by exchanges. The result is that they are not willing to buy and hold real bitcoin. They are used to paper assets, their whole lives have been chasing paper assets. And now that paper Bitcoin is here, they're buying it up because it looks just like all the other things in their portfolios.
True, very true. And Saylor is right there to hold their hand -- at a nice, cushy cost equal to the difference between bitcoin's CAGR return and what the prefs are paying paper investors.
Not sure why you disliked with this piece? It was funny, it was illustrative, and it got to something that critics haven't touched on yet: HOW exactly these schemes fall apart.
Strategy is conservatively-af financed: all the BTC is "unemcumbered"; they can print as many MSTR shares as they want to satisfy converts. Hendrickson points out the two ways that this play can fall apart:
1: bitcoin itself collapsing (which nobody here thinks)
2: the regulatory moat/arbitrage that Strategy is profiting off shrinks or goes away:
these companies are betting on a joint hypothesis: (1) that bitcoin will play a major role in global finance, and (2) that the current regulatory and market segmentation will persist.
P.S.: very happy that Mr. Scoresby is taking over my role of covering Economic Forces for ~econ!
Because I respect you, sir, I'll spend ten minutes listening to this. (low probability that I'll actually read such drivel)
Wouldn't think twice about such nonsense otherwise.
actually got around to watch this back-and-forth.
You didn't acquit yourself honorably there, Car. Pretty pathetic to see you embarrass yourself like that.