Crypto_Scot

Baked camembert dripping with honey warm gooey and impossible to resist

Just had the best steak tortillas and that garlic sauce stole the show

Eyal Waldman hired 20 engineers in Gaza, donated $360K to a Gaza hospital, and spent years building partnerships toward between Israeli and Palestinians. Pro-Palestinian protesters screamed “murderer” at him in Venice this week. His daughter was killed at Nova on October 7.

Man, this guy is 100% correct. You CAN eat healthy, and it's cheaper than you think.

If I sold my company tomorrow, I'd build my next multi-million dollar business in 90 days using Claude. Here's the exact 5-person AI team I'd hire on day one. Steal every prompt.

El artístico proceso de la elaboración de la pasta a la Carbonara… 😏 La pasta alla carbonara es uno de los platos más icónicos y, a la vez, más debatidos de la cocina italiana El arte de la cocina! 🧑‍🍳 Video grabado en la cocina de la abuela 👵

@p____67 typical Celtic fan response

Absolutely mental that Ross Greer is laughed at more than Offord by working class people. There’s only one person here that gives a fuck about us working class, and I’ll give you a clue, it’s not the cunt with 6 houses.

O dialogo mais profundo que eu ja vi numa rede social foi sobre Matrix e esse video prova isso. Eu nunca pensei por esse lado da historia.

This is my kind of Steak Tortillas 🎥 abiresag | IG

@Axel_Mnvn Sure they're not exactly the same things. But what Saylor is running is for sure a Ponzi. btw, Ponzi schemes can work for a period of time but it is going to blow up at some point.

@Coinhungry1 I dont think Saylor is Like Do Kwon or an instrument baked by Bitcoin is the same ponzi as one baked by Luna honestly.

¿¿Cómo va a pagar Strategy los enormes dividendos de $STRC?? La capitalización de STRC ya ronda los $7B. Strategy tiene que pagar el 11,50% de esos $7B al año = $800M en dividendos. (Realmente es algo menos porque no todo ese STRC es al 11,50% ya que el yield varía) Tienen 3 formas de pagarlo: - Vendiendo Bitcoin - Vendiendo más STRC - Emitiendo MSTR 1. Ellos dicen que nunca van a vender Bitcoin, entonces los $55B que tienen en Bitcoin NO pueden ir a pagar sus dividendos y deudas. Si no pueden usar sus Bitcoin les quedan 2 opciones: los preferentes o las acciones comunes. 2. Si vendo STRC a alguien para pagar el dividendo de otro que me ha comprado previamente STRC, es un sistema ponzi de manual. Por ende tampoco puedo usar preferentes para pagar los dividendos precisamente de los preferentes. 3. El resultado = solo puedo hacerlo mediante la emisión de acciones MSTR. La pregunta obvia: ¿Y por qué alguien compraría MSTR sabiendo esto? Porque MSTR está diseñada para rendir mejor que Bitcoin, no igual. Tiene dos motores: Motor 1 – Amplificación: Es el apalancamiento estructural de la empresa. Hace que cuando Bitcoin sube, MSTR suba más. Motor 2 – BTC Yield: con distintos mecanismos cada acción que ya tienes representa cada vez más Bitcoins que antes, aunque tengas el mismo número de acciones. ¿Cómo? Si al emitir MSTR y luego comprar BTC consiguen aumentar más el % de Bitcoins que de acciones emitidas el BTC yield sube. EJEMPLO: - Strategy emite un 20% acciones nuevas (100.000 acciones) y usa ese efectivo para comprar 60.000 Bitcoin más (+30%). - Tu participación en la empresa se diluye del 5% al 4,17%, pero como el Bitcoin creció proporcionalmente más rápido que las acciones emitidas, tu 4,17% de los 260.000 BTC te da 833 Bitcoin más que al principio, sin gastar ni un solo dólar más en más acciones. CONCLUSIÓN: Al tener la empresa un valor de $63B, para pagar los $800M (1,2%) de $STRC necesitan emitir un 1,2% más de acciones MSTR, es decir van a diluir a los accionistas en un 1,2%. La clave es que el BTC yield ya está por encima del 5% en 3 tan solo 3 meses por lo que aun así esa emisión del 1,2% a nivel anual no haría que el resultado neto fuera dilutivo. Lo que necesita realmente Strategy para funcionar son 2 cosas, que Bitcoin triunfe y que haya demanda de MSTR. Por ahora lleva las 2 muy bien.

@BigpictureBTC You are correct on this. All the people cheering this have become a cult and they will find out the hard way.

The majority in this sector cheering for Saylor’s STRC engine buying tons of BTC are failing to understand that he will inevitably have to sell this BTC when his ponzi-like model reaches its breaking point. Hopefully, he can find a big buyer then. REMEMBER - For perpetual issuance models there is a ruthless financial law; There is an inevitable structural ceiling that emerges when scale driven dilution requirements to sustain growth begin to outweigh the growth itself. This highlights the structural fragility of the model, which becomes more pronounced as it scales, leading to its inevitable breaking point.

@BitPaine @saylor Also, if he raised $6T, the dividend obligation would be $700Bn at a snapshot in time in the yearly period. He would have had a lot more of a dividend obligation previously, and he'll need to continue to pay $700bn per year. From a business that makes relatively fuck-all.

For the $STRC dividend obligation to be $700B, @Saylor would need to have bought $6 trillion dollars worth of Bitcoin, which is roughly four times the current market cap, bought at the margin. This would likely raise the Bitcoin market cap to around $100 trillion, pricing each bitcoin at $5 million. Let’s assume in this scenario he is able to acquire approximately 2 million $BTC. This would give an $MSTR NAV of about $10 trillion. Even at an mNAV of 1, this would put the share price of $MSTR around $30,000. And I don’t think that in this scenario $MSTR has an mNAV of 1. Some of you guys are just really bad at math. (This is going to happen btw)

@BitPaine @saylor This is such an obvious Ponzi. It will blow up eventually...

Michael Saylor just built a $1.2 billion yearly dividend bill on a business that makes no money. And it's getting bigger every month. Strategy has issued $11.3 billion of preferred stock across 5 different series since January 2025. The rates are brutal: 8% to 11.5%. Here is what he owes every year: - STRC: $731M at 11.5% - STRD: $135M at 10% - STRF: $128M at 10% - STRK: $112M at 8% - STRE: $89M at 10% Total: $1.2 billion per year. In cash. Forever. The software business? It lost $112 million in free cash flow last year. It cannot pay a single month of these dividends. So where does the money come from? Issuing new MSTR shares. Every dollar of dividends is funded by printing more common stock. Saylor has pre-funded the next 2 years with a $2.25 billion cash reserve raised from share issuance. But new preferred stock is being issued every single week. The reserve will run out. And there is still $30.5 billion of preferred capacity left. If he uses it, annual dividends could hit $4 billion per year. On April 12, Saylor said Bitcoin only needs to grow 2.05% per year to cover everything. The math is correct. But dividends are paid in cash. Bitcoin appreciation is not cash. To turn Bitcoin gains into cash, he has only 3 options: 1. Sell Bitcoin (he has promised never to do this) 2. Issue more MSTR shares (destroys shareholder value when stock trades below NAV) 3. Turn off dividends (STRF and STRE dividends escalate to 18% if unpaid) Right now MSTR trades at 0.79x its Bitcoin NAV. A 21% discount. This means every new share issued destroys Bitcoin per share. The flywheel that worked on the way up is now running in reverse. There is also $6.8 billion of convertible debt with holder put options exercisable by September 2028. If the stock stays low, bondholders can demand cash repayment. The reserve cannot cover both dividends and puts. The breakeven was 1.5% in February. It is 2.05% today. At current issuance pace it could be 3.4% by year end. The number Saylor presents as fixed is actually rising every month. Bitcoin does not appreciate at 2.05% per year in a straight line. It goes up 300% then crashes 77%. Dividends are due every month regardless of where Bitcoin is in the cycle. This is a timebomb. It does not need Bitcoin to fail. It only needs Bitcoin to be volatile on a timeline that meets $1.2 billion in annual cash obligations.

@BitcoinErrorLog @LynAldenContact Good article. I don't trust Saylor at all, and all these products just scream Ponzi.

@LynAldenContact It will blow up. paperbitco.in

Stretch $STRC is now larger than all of Strategy’s other preferred stocks combined.

@BitcoinErrorLog @rektmando Can't see the Trump admin doing anything, but if Dems get in (which seems inevitable at this point) then yes you could be right.

@Coinhungry1 @rektmando Might take longer, might come by the hand of the government this time

Saylor has lost it with this logic. He has now issued $10b+ of preferred stock at 10-11.5% and has capacity to issue $25b more. That means a dividend bill of $1-4b EVERY YEAR on a software business that makes no cash. He has pre-funded some of this bill for the next year by issuing common stock - but with the amount of preferred shares printed each week this is going to run out. The only option for this capital structure long term is either issuing $1-4b of common stock every year, turning off the dividend or selling BTC. This is now a timebomb.

@BitcoinErrorLog @rektmando You think Saylor is the next SBF/DoKwan?

@rektmando Every ponzi is a time bomb.

POV: You just discovered the best way to cook leeks This is such a simple recipe, yet I’d never thought of doing it. I usually braise them with black olives and tomatoes, but this garlic‑herb butter version grabbed my attention instantly.

@TonyLapidus @Cobratate @louistheroux @netflix ASININE

Andrew Tate reacts to Inside The Manosphere @Cobratate @louistheroux @netflix