Climb That Ladder

Please watch and share this video I made 15 years ago if you can. If you disagree, let’s talk about it. youtu.be/9hyz4Hnb64o?si…

@MattRostosky Thanks. Compute had a lot of room left to run and likely still does. Hundreds of billions being spent by companies just this year.

@ActuallyClimber just came back to say congrats on your AMD leaps, i'm sure those are printing now. What made you get those to begin with btw? i'm curious

Sold all my stocks this morning at open. My only holdings are 3.3 mil of $STRC (which is also put protected - $80 strike June and I’ll push that out with the goal right now of closing in full Jan 2027 to get long term taxes). Got those really cheap. Eager to get out in 11 months. Other than that, I hold some June 2027 $260-320 amd call spreads and Jan 2028 $260-340 call spreads as well as some $200 and $300 calls at various strikes. About 5% of my after tax/obligation port there I think. My IRS and other obligations are in SGOV (much lower fees and no state tax compared to something like SPAXX). I’ll try to snipe something if I see clear asymmetry, but comfortable sidelining for now.

@jbmillen I am “letting them buy it” WTF.

@ActuallyClimber I’m confused I used to listen to what you had to say but it seems like you’re spending all your energy trying to battle against this one thing. Why are you wasting the energy? If people wanna buy something, let them buy it. Stay out of their way.

Reasons why “Bitcoin only needs to go up 2.5% for $STRC to pay dividends forever” is very flawed. This is not an exhaustive list. 1. Sequence of returns risk. This often comes up in conversations about the 4% rule for withdrawals during retirement despite indexes historically growing at around 10% a year. Yet I’ve seen zero people post about sequence of returns risk applied here 🤦‍♂️. This is like saying a retiree with $1 million needing $40k per year to be sold out of his investments to live on only needs to make 2% or so per year. Not only would he need 4% but sequence of returns risk could still kill his plans even if long term the return is the “necessary” amount. Returns are NOT smooth, especially with bitcoin. 2. Assume 33% amplification with STRC and friends averaging 11.5% yield, so a 3.8% NAV bleed per year. This doesn’t take into account operational costs like Saylor’s AI subscriptions or the fact that they “accidentally” found out these are ROC dividends only because their base software company loses money. 3. How far is Strategy willing to raise the STRC dividend? 15%? 18%? Of course they don’t “have to” but then it will lose par and lose trust long term. Or they can raise it more to keep par and then the math keeps requiring a higher Bitcoin cagr. Summary: Stop saying higher pref rates are good when they’re horrible (low rates would have defined success) and greatly increase risk/obligation and NAV bleed. 4. Acting like people forfeit their right to the principal when they buy STRC is interesting, yet competing with money markets apparently. The same people claim it’s low risk so doesn’t matter anyway. Reality? Capital stack matters. Liquidation preference matters. This plays directly into the risk premium the market will demand from these products, and during bear markets even merely a 50% Bitcoin drawdown will double their amplification rate. 5. Terms like “digital credit” and “financial alchemy” should raise an eyebrow. Sometimes there isn’t the need to overcomplicate the general rule that if something sounds too good to be true, it probably is. 6. True North is now saying there’s basically no point in index funds or the general stock market for investors (yes I tuned into this last one for the lolz) because daddy Saylor invented the best thing since sliced bread, STRC. 7. They’re even sharing Sharpe Ratios when this product has existed for a few months and was purposefully IPOd at a 10% discount to par. How idiotic. Overall I see this as a game of musical chairs, it’s just a question of when the music stops. People making up funny new terms and oversimplifying the numbers to their favor is entertaining but ridiculous.

@SOLx299792458 I find this all very interesting so I talk about it when I feel like it. Why does anyone who leaves a cult ever want to talk about it?

serious question: what is the point of spending the most valuable resource in the universe - time - incessantly posting the same vitriol towards a single company over and over again? would your time not be better spent doing almost anything different than this? or do you derive pleasure and satisfaction trying to beat a point to death by repeatedly yelling it into the vast depths of a toxic online cesspool of (mostly) morons? no hate, just curious as to your why. and not your first why in response to this, but your 5th why. as in, if i asked you why 5 times in a row to whatever you say first, that's the real answer. ps - love the simpsons.

Them: $STRC 11.5% yield! Actual companies and indexes are a thing of the past! Me: Where’s the yield come from hmm? Them: The sophisticated arbitrage of Bitcoin CAGR vs pref yield, obviously. Me: But Bitcoin didn’t even double the last cycle high and is where it was 5 years ago or worse when adjusting for inflation. Perhaps the CAGR will never return to 30-50% as it’s clearly dropping faster than most expected. Them:

@bitcoin_eagle 40% per year avg 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

@ActuallyClimber $15k to $125k Okay bro. Buy the top day to top day as a retard. For everyone else who DCAs it's 40% per year avg

@TailEdging @Vivek4real_ Let’s play by your rules. What would Bitcoin’s price be today if Saylor (and no one else like him) started selling shares to buy Bitcoin over the past 5 years. No Saylor and what would price be?

Please let me make sure I fully understand you… a company who’s sole purpose essentially is to take as much Bitcoin out of circulation as possible, will not have a massive effect on the price of Bitcoin as it grows its percentage share of all Bitcoin from here by 2x, 3x, etc… Is that right?

🇺🇸 MICHAEL SAYLOR REVEALED THE ENDGAME: THEY PLAN TO BUY $100,000,000,000 WORTH OF BITCOIN. “IF I GET 7.5% OF THE NETWORK, IT’S $10 MILLION A COIN.” “WE’D TOP OUT AT 7.5% AND THEN SLOW DOWN.” BULLISH 🚀

@gdr252 The yield comes from cash flows? The only reason these dividends are ROC is because the underlying company loses money. The company has stated this many times.

@ActuallyClimber the yield comes from cash flows, not collateral. & cherry-picking the span btwn the 2021 pico top & PA in the depths of a bear of that collateral way understates long-term CAGR.

I made it very, very clear that the whole thesis boiled down to mNAV arbitrage. The mNAV premium vanished. That was the objective truth. Do you believe I should have never spoke of my thesis? Do you believe this because it ended up failing or because you believe people shouldn’t make coherent arguments to explore topics online?

@ActuallyClimber @MikeFor44857211 It's one thing to believe a thesis personally, another to argue it publicly. Surely you understand the difference. And if you didn't lose money I'll own that I misspoke. Good for you to bail on your thesis you worked so hard to sell to people on this app.

@ForrestHODL Yes it does. That’s why the fiat user owns assets. Most people have heard of inflation.

The fish doesn't know it's wet. The fiat user doesn't know it's being robbed.

@Denver4VA I lean conservative and I agree completely.

@dust52 @MikeFor44857211 I believed in the thesis until it failed. Then I owned it completely. Funny how you don’t even acknowledge your last blatant lie. Own that.

@ActuallyClimber @MikeFor44857211 Funny how I remember that differently. I remember you for months preaching MTPLF, even arguing with people on this app. Then when your thesis turned out wrong you bailed out of fear to protect your bag. And now here you are making bold claims yet again. My point and now I'm done

@dust52 @MikeFor44857211 “Get your facts straight” said after a complete lie 😂😂. I’m constantly amused by the lack of research before mouth opening in this space.

@MikeFor44857211 @ActuallyClimber He didn't predict the fall... Only after he lost money did he sell. Get your facts straight. Also I never lost a penny on Metaplanet. Simply holding him accountable for his words that influence others. What more people should do in this space.

@AskMichaelTaiwo @neilrayjones Moon landing? What moon landing 😂

I just went through Elon Musk's page. No word on the Artemis II crew's Moon landing or their beautiful Earth shots. If this was done by SpaceX, he would have been talking about it nonstop. The guy is petty. Come on, celebrate a good thing even if it not done by your company.

@BitcoinSensei4U Sequence of returns risk isn’t shit.

@ActuallyClimber Shit in > shit out

NEW: Riot Platforms discloses selling 3,778 Bitcoin in Q1.

Trust is the most important part of any society, friendship or relationship.

@BitcoinSensei4U I appreciate you addressing my points with nonsense.

@ActuallyClimber You sound like the horsesalesman when the first cars arrived.

@TailEdging @Vivek4real_ He’s already bought 3.5% of all bitcoin , close to 5% of non lost bitcoin and we are in the 60s. Man wake up.

@ActuallyClimber @Vivek4real_ This comment is going to age like milk

I’ve always been a trader and have always been honest about that. MetaPlanet (all of my projections) were based on mNAV keeping a decent premium for 6-24 months or so. Instead the 700% premium dropped to 0%. Thesis broke. I had to admit I was wrong about the market and so I did. I’m certainly glad I got out and have tried to be as transparent about all of this as I can.

@MikeFor44857211 @ActuallyClimber Difference between an investor and a trader. If he was right when he was "hyping" it, he wouldn't have needed to sell... See the difference?

@retireErrant Mars living will be hell. The air pressure is far too low even if we fixed the chemistry so space suits will always be required outside.

@ActuallyClimber Today, you learned that Bitcoin is hope. It’s one of humanity’s two hopes left. The other one is going to live on Mars and like the lifestyle.