GRcoiner

@AlexesNakamoto Am I dumb ? but when has MSTR ever been $1200

Jeff Walton’s MSTR story is wild. He rode it down from ~$1,200 to ~$100, watched the market call Strategyᴮ dead, then looked at the debt profile and said: the market is wrong. When Bitcoin hit $19k again, he took his bonus, portfolio, retirement accounts, brokerage - even the last $7,500 from his HELOC - and bought long-dated MSTR calls. Absolute conviction. Absolutely not for normal humans. h/t @natbrunell

@RaoulGMI, wen banana zone

@MJD2023X @saylor You're*

@saylor I think BTC is becoming a JOKE, Saylor, your full of shit

Stretch your income. $STRC

@vivekwithmoney @PeterSchiff @saylor @grok what’s the average CAGR of BTC over the last 15 years

@PeterSchiff @saylor The entire strategy works only if Bitcoin keeps outrunning the cost of debt. That’s the part bulls ignore.

.@Saylor walked back his admission that $MSTR may sell Bitcoin to cover $STRC payments by claiming he meant that he would only sell Bitcoin if he were a net buyer at the same time. But to pull that off, he must consistently sell Bitcoin at higher prices than he pays to buy it.

@jaychuksy “Just say when”

That's a whole lot of sebaceous filament

@UnikoVida @JamesCohen1985 @snowinjon

@JamesCohen1985 @snowinjon Click bait doesn’t explain shit They get paid for attention/views

Michael Saylor is running a Ponzi scheme in broad daylight and his victims are calling it a "Bitcoin strategy."

@RichardHeartWin @YouTube Interesting how this happens a week after the paper with all the quantum fud was dropped by Google, co-written by an employee of the Etherum foundation 🤔

.@youtube you have violated your own policies. Cease and desist.

@notthreadguy Bros never heard of the lightning network

iran accepting bitcoin as payment is bad for bitcoin because they will discover bitcoin fucking sucks for payments

@mork1e What if I already have a Bitkey and already use Cash App

Ok so.. they left their CDN exposed. If you ping the domain, you get this ip: 151.101.129.49 It turns out this is a fastly.com IP . I had never heard of fastly but it looked to be something similar to vercel, so I figured maybe they had custom deployment links like vercel does. Tried a few different combos and BINGO: btc.day.global.prod.fastly.net This took me to this: d325bmwzjz2yc7.cloudfront.net That’s their CDN bucket on AWS. They currently have it setup so that any invalid endpoints redirect back to index.html I went on a hunch and figured that they’d probably already have their production app stored somewhere in the CDN ready for deployment I used SECLISTs (github.com/danielmiessler… )and ffuf to try out over 20k different combinations on this URL. After some sleuthing, BINGO!! I found these two files: > live.html > .DS_STORE The important one here that immediately caught my eye was “live.html”. That sounded like a prod deployment. And sure enough, it was! This is what the btc.day site will look like on the day the faucet goes live: d325bmwzjz2yc7.cloudfront.net/live.html d325bmwzjz2yc7.cloudfront.net/bitkey.html It turns out the entire faucet will be revealed to just be a promotion scheme to get you to buy a bitkey and use cash app. There is no faucet - at least in the sense most were expecting.

wtf happened at 4pm

We reject: kings, presidents, and voting. We believe in: rough consensus and running code. —David Clark, 1992

@Strike @jackmallers I still think this is a good idea

You know there’s a delay between the time we buy the Bitcoin and the time Bitcoin goes to the moon.

weighted to my preference of #bitcoin and $USD. Just cold hard sats flowing into my account in real time as I work to bring value to this world. The way payroll should have always been. That’s my dream @Strike account

Why can’t I get paid every week? Hell every day?? hour?? minute even???? I think the Line of Credit could turn this into a reality. You extend a LOC the size of the paycheck, and slowly flow that liquidity into my Strike account at an hourly basis,

@strike @jackmallers, I’ve always hated the bi-weekly paycheck system. I’m a salary man these days. I swear I look forward to two weeks ahead every two weeks just to get the money for the two weeks of work I just did to stretch for the next two weeks…

@Pledditor @GhostofWhitman Sell for what though? To put in the next best money market instrument that yields 4.5% on a good day? Even if Saylor cuts the rate down to 9%, that’s still 100% better than the competition

I'm talking long term, assuming a high issuance of preferred equity followed by years and years of depletion of the value of the BTC reserves. He's only been able to offer a 11.5% yield at the moment because to date, he really hasn't issued that many shares in relation to the value of the asset coverage per share. That rate will fall. The more STRC issuance, the less yield he's able to pay per share. The less yield it pays per share, the more likely existing holders are wanting to sell. The more existing holders sell, the more capital he must expend defending the peg. It's a doom loop. Of course, if BTC performs well there's nothing to worry about.

STRC works flawlessly at a small scale, in a controlled enviroment, under favorable market conditions. But almost nobody is acknowledging the long term risks if the bitcoin price stays depressed for a prolonged period of time, if the STRC liabilities grow too large, and Saylor doesn't have the on-hand capital to reduce the supply. When I bring this up to STRC shills, they always say something along the lines of "If you aren't bullish on bitcoin, then don't buy STRC" Fine. But here lies in the problem: you have these grifters now making stablecoins backed by STRC, pretending it's a rock solid foundation, gaslighting the public about the risks involved.... and @Saylor has been actively promoting these stablecoins as "money" 🤦

Game Theory

@saylor , why not throw the $2B cash reserve into $STRC?

@PeterSchiff @streamex Bro hasn’t heard of $STRC

This week @streamex launched a gold token that pays a 3.5% yield. It's for accredited investors and, for now, has a high minimum. This beats stablecoins backed by dollars that yield nothing, or Bitcoin that's backed by nothing and yields nothing. Gold is the future of blockchain.