17 years of tulipmania and no use case ok ![]()
Perhaps, but iâd really love to get one of those gold bitcoins that you often see depicted as a picture when reading online articles about bitcoin.
Easy to get a gold-plated version from galaxus or well-known Chinese selling sites.
I got one, it hasnât spontaneously transmuted to anything worth more than a few francs ![]()
Itâs also available in real gold:
But I donât like the design ![]()
My favorite season.
I started this week my dca buys for Ib1t.
10-20% Btc active, 80-90% Vt passive
Ben Cowen
Bob Loukas
Same here
looking for the classic design with a big B
Easily found
am sure there are cheaper versions out there as well
Makes a nice fun gift
I⊠really donât see the value of buying physical gold, of all things, as a symbol of Bitcoin. Except to poke fun at bitcoiners friends, maybe.
At chf 6.95 i suspect it is not real goldâ![]()
xD I hadnât noticed the price. The (ugly) Gold Crypto Vrenli is, though.
Dca-in season continues
We are glued to 50k CHF per bitcoin. ![]()
Yup ![]()
MSTR is sitting on 12.5B unrealized losses, it is 2.5B more than the largest realized loss in history.
Sailor will probably become the first CEO to see his company stock go to -99% for a second time.
How anybody is putting real money into this or BTC is beyond me
its funded by the STRC scheme, its the same as Terra/ Luna, and it obviously will end badly.
Basically they "raise money by issuing a STRC Bond paying 11% (annual APR, paid monthly), this should always stay a 100 USD. If it goes higher they sell STRC and buy BTC. If it goes lower the market should adapt and push the price back to 100 USD or MSTR buys back some STRC by issuing more MSTR Shares or other means of capiatl.
Obviously if you have lots of capital, you buy BTC, the maket cap of MSTR increases disproportionally, since it owns BTC, this gives you the option to buy even more BTC.
But since STRC should never go over 100 it leaves to a big vulnerability, if a bistander has big pockets and would want to profit from this he can put a lot of stress on the system with litle risk by shorting it massivly.
MSTR is already trading at 80% below its ATH. I think lot of investors in MSTR have lost a lot of money.
If someone wanted BTC, they could have bought BTC but MSTR sold people a random idea of selling BTC volatility and leverage. Now people are burnt. Will Michael Saylor take responsibility? NO
I personally think people should shy away from random products which essentially sell a wrapper service.
Itâs worse: itâs a preferred stock. The 11% annual distribution is a dividend that they can suspend whenever necessary.
When the price is too high, they emit and sell more STRC, bringing the price of a share down.
When the price is too low, they increase the dividend, making the STRC share theoretically more attractive and bringing the price up.
This obviously will work until it wonât, at what point the dividends will be reduced or wonât get paid, the price of the STRC shares will collapse and the people who bought them thinking they were a savings account with 11% interest will discover they actually hold nothing in their hands and canât register a claim against MSTR assets.
Sailor admits it himself (the video should start at the relevant timestamp):
Edit: just noticed the price of a $STRC share is currently at $76.60. The scheme didnât hold for 1 yearâŠ
Nice clip.
Yeah kind of crazy that he just says he cannot be liquidated even if strc goes to 0..
Dick move, but then he still has no capital to buy more btc..
To the moooooooooops ![]()
