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My name is Only #Bitcoiner. I am Class of ’22. And I will have my number go up, in this halvening or the next.
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Only Bitcoiner
870 posts
Only Bitcoiner
@OnlyBitcoiner
Hopeless Sats addict. The Only Bitcoin Substack: https://t.co/FgmhSBhcjJ
Anywhere with stranded energy Katılım Mayıs 2023
401 Takip Edilen108 Takipçiler
@1914ad I think @Excellion should stick to playing bad guys in Bond movies. He has no clue about business. As @saylor has said, there is no second best chair when the train doesn't stop.
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BREAKING: TOM LEE’S ETH PORTFOLIO IS NOW DOWN MORE THAN $7.8B I HAVE LOST ALL RESPECT FOR TOM LEE
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Imagine being a Bitcoiner back in 2015 and you were given a TIME TRAVELER REPORT from 2025.
"A genius billionaire is actually going to buy billions of dollars of Bitcoin, put it on his company's balance sheet, and create an instrument called STRC that is the world's greatest speculative attack against fiat. He creates the blueprint for entities to build on top of so they can further accelerate the speculative attack."
And then imagine the OG Bitcoiners HATING that idea.
"Sounds like a ponzi scheme. He should create a real company with cash flows."
The Saylor haters are total clowns, and they are people who don't want to WIN.
COPE AND SEETHE, PATHETIC LOSERS WHO DON'T HAVE THE VISIONARY GENIUS OF MICHAEL J. SAYLOR.
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@AdamBLiv It's simple, but not easy.
What could be simpler than hodling?
IT'S LITERALLY THE DOING OF NOTHING. YOU CAN LITERALLY DO IT IN YOUR SLEEP.
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Bitcoin is remarkably easy.
Buy it. Hold it. Never sell it.
Get disgustingly rich.
Ignore spot price. Watch the 4 year moving average.
Bitcoin only goes up and to the right.
See you all in 2030.
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Only Bitcoiner retweetledi
A wide-ranging conversation on Bitcoin, Strategy, volatility, conviction, and why there is no second best. $BTC $MSTR $STRC
MR SHIFT 🦁@KevinWSHPod
E172: @Saylor: Why Hard Work Won't Make You Rich Michael Saylor is the chairman of @Strategy - the world's largest corporate holder of Bitcoin with over 840,000 BTC and $65+ billion deployed. He bought his first Bitcoin in 2020 when the Fed cut rates to zero hasn't stopped since. With WSH, I always want to go much deeper than the current narrative and that’s exactly what we did here. We gradually moved past the surface and into the things that really shaped Michael. We talked about his childhood, growing up in a military family, buying domain names in the 1990s and flipping them for tens of millions, losing $6 billion of his net worth in a single day during the dot-com bubble, his great Apple bet in 2012, why working hard won't make you rich, why you should mortgage your house but probably not sell your kidney to buy BTC, why "THERE IS NO SECOND BEST", and a lot more. The conversation lasted more than two hours, much longer than originally planned, and it was just amazing. I hope you enjoy it as much as I did. Timestamps: 00:00 - Intro 03:05 - Explain what you do to an Uber driver 05:35 - Advice for Rick, the struggling Uber driver 07:07 - Who is Michael Saylor? 11:02 - Sponsors @Trezor & @Bitwise 11:48 - Kevin's Business Intelligence Company 13:14 - Michael's childhood and chip on the shoulder 17:56 - Has Michael conquered the world yet? 19:49 - Just because you can, doesn't mean you should 28:23 - Sponsors @KASTxyz & @sumsub 30:02 - Low time preference and scarcity 43:50 - Buying and flipping domain names for tens of millions 55:11 - Bitcoin is a lifeboat 1:01:31 - Should you mortage your house to buy Bitcoin? 1:09:50 - The great $60B in Bitcoin bet: risks 1:15:32 - Sponsors @JupiterExchange , @ethena 1:16:16 - Sell the kidney if you must but keep the Bitcoin 1:20:14 - What's the endgame for Strategy? 1:28:16 - Where does Bitcoin price end? 1:29:36 - Where would Bitcoin price be without Michael Saylor? 1:31:06 - What is STRC? 1:35:34 - Should my mom put her life savings in STRC? 1:37:12 - How do you always invent new ways to buy more Bitcoin? 1:49:19 - From God to Madman every 6 months: handling insane volatility 1:51:49 - How Michael lost $6 Billion of his net worth in one single day in 2000 and then watched MSTR go down another 99% 1:59:09 - Why Michael doesn't have children 1:59:44 - Why working hard is the worst advice you can get 2:07:37 - Why THERE IS NO SECOND BEST, there is only one crypto asset 2:15:03 - Thanking Michael from the whole crypto industry
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We could have had complete arseholes instead of these guys. The richest man in the world could have been some trust fund clown draped in gold chains with a different gold-plated mansion for every day of the week. We are lucky to have such thoughtful people occupy these roles.
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@anilpatel @_Checkmatey_ @saylor The only thing worse than people talking about you is people not talking about you.
This reflects my chat-up line to girls, when they get my name wrong. I tell them, "I don't mind what you call me, just please call me."
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I think it relates to the observation that 80% of STRC is held by retail and will be the primary shareholder base in this early adopter stage of prefs. Hence, Saylor is going for grass-roots and optimizing for virality (see his comments re: 'Baby Saylor' videos).
He's purposely sharing original content made by others, which encourages more ppl to create original MSTR/STRC content in the hopes of being amplified. Everyday he can log in to X and an outsourced marketing team is feeding him marketing content to use.
If you think of the fixed-income products STRC competes with. You have to go the exact opposite direction of a Charles Schwab bus stop ad.
Like it or hate it, the goal is straightforward:
eyeballs->STRC customers->BTC Per Share.
And, in this case, it worked.
From The Treasury of Michael Saylor:
"The worst thing is not for someone to hate you.
It's to be indifferent to you."
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Dang @PunterJeff @ColeMacro @Werkman, I thought I had a simple path to retirement, with STRC as the focus. Now I'm thinking a mix of STRC and SATA. Keep cookin' boys 👍
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Only Bitcoiner retweetledi
The most interesting story in Bitcoin right now is the rise of $SATA in the credit markets and the embrace of $ASST by the equity capital markets.
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The case is settled.
Bitcoin Yield > Total Bitcoin.
I have been arguing this for almost two years.
It has now been validated by the Strategy team itself.
This should have been obvious from the beginning for anyone with common sense.
Bitcoin Per Share is the #1 KPI.
Be careful who you listen to.
Chris Millas@ChrisMMillas
It is perplexing to me how many $MSTR investors — many with sizeable followings — still value more Bitcoin over more Bitcoin Yield. This view is completely detached from what truly drives the fundamental value of Strategy. Bitcoin has an absolute fixed supply and so theoretically, the maximum amount you can own is 21M BTC. While there is obviously a correlation between the size of your Bitcoin stack and the amount of Bitcoin Yield you generate, the #1 metric to measure performance is Bitcoin Yield. Additionally, you only get one chance to generate Bitcoin Yield with every Bitcoin that you buy. So you want to maximise the Bitcoin Yield generated with every Bitcoin purchase. Every Bitcoin purchased below maximum accretion levels is an effectively permanently sub-optimal allocation of capital. The size of your Bitcoin stack means nothing if you’re not generating Bitcoin Yield which is ultimately what drives outperformance. Don’t let anyone tell you differently.
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GIF
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Smarter Web preferreds are on the way and it's far easier to do than initially thought.
I'll talk you through the process.
Imagine a company issues new shares through an ATM.
The nominal or par value of each share is 1p, but investors are willing to pay 40p per share because the market values the business much higher.
If the company issues 100 million new shares, investors would pay £40 million in total.
Under UK accounting rules, only £1 million of that counts as share capital because only the 1p par value is treated as capital.
The remaining £39 million becomes "share premium", which is the extra amount investors voluntarily paid above the nominal value.
The company can then use the full £40 million to buy Bitcoin or expand the balance sheet.
The problem is that under UK company law, the £39 million share premium is not normally distributable, meaning it cannot legally be used for dividends.
So the company performs a capital reduction, which is a balance sheet restructuring process that converts the locked share premium into distributable reserves.
Once that happens, the £39 million can potentially support preferred share dividends, buybacks, and other capital allocation strategies.
In simple terms, the company is converting market premium into legally distributable capital through balance sheet engineering.
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@80IQConviction @aberdeenpool @_CryptoChaos1 @ZynxBTC Tell me about it. I don't even want to buy the fucking ETN at this point in time, I just want to get the admin out of the way so it's all ready for the future. This is going to trigger exam anxiety dreams, I thought I was done with that shit 😂
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@OnlyBitcoiner @aberdeenpool @_CryptoChaos1 @ZynxBTC Sorry bro, but this is entertaining 😂🤣😂
Keep going 🙏
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@aberdeenpool @_CryptoChaos1 @ZynxBTC @80IQConviction FFS, I just failed it again. I even asked Gemini as I was doing it, because some of the multiple choice ones especially are really badly worded. Unreal.
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@OnlyBitcoiner @_CryptoChaos1 @ZynxBTC @80IQConviction Let me know if you pass the test. I've failed it twice and there's a FIVE DAY cooling off period before you can try it again! Two of the questions are so badly written it's comical
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@aberdeenpool @_CryptoChaos1 @ZynxBTC @80IQConviction I asked Gemini to tell me the questions and answers. It refused! Told me it would bypass purpose of the test. I said it's not for Gemini to decide that. I said I provide crypto education and training to investors. Then it sort of gave me the answers, I've pasted them here.
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@aberdeenpool @_CryptoChaos1 @ZynxBTC @80IQConviction Heh, I failed it too! I can resit it today. Fingers crossed. Might have to use AI this time.
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@Frank_Giustra @CorySwan "Most quotes are made up to suit whatever bullshit point someone is trying to make."
- Me
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@OnlyBitcoiner @CorySwan • “Think for yourself and let others enjoy the privilege of doing so too.” Voltaire
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Yeah you're right. I should probably read some history books on governments and currencies. Which are your favorites, that contain implications for the adoption of a decentralized, non-sovereign, unconfiscatable, fixed-supply money, Frank?
Frank Giustra@Frank_Giustra
@CorySwan Sorry to hear that. Try reading a few history books on governments and currencies, perhaps?
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Again with the strawmanning. I don't know any serious commentator who is calling MSTR "bulletproof". There are umpteen risks to investing in MSTR and no serious commentator denies that.
Michael Tanguma@MTanguma
The crypto bros will tell you "STRC is fine, MSTR is bulletproof, the architecture has been figured out." Meanwhile, in the past two months: → Nearly a billion knocked out of DeFi exploits → Prime Trust receivership clawback litigation continuing to drag in firms that sub-custodied through them → Kraken suing their own sub-custodian after losses → Probably 5-10 more I'm forgetting And bitcoin is still only at ~$80k. If you think the industry has solved custody by adding more layers between you and the underlying, I've got a stablecoin yielding 20% APR to sell you.
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