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• #2077
If I hadn't had coke enduced projectal diarrhoea I'd have about $489,873,789,022 right now.
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• #2078
On the face of it seems like a smart move
errrr, debatable.
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• #2079
That's what I'm talking about!
I've been sucking the dicks of the guards at the local rubbish tip for the last 3 months while I try and find my btc usb stick. Turns out, it was still in my laptop and I'd not thrown it out at all.
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• #2080
If I hadn't had coke enduced projectal diarrhoea I'd have about $489,873,789,022 right now.
https://youtu.be/n4MLPkTrOq4?t=607
Fucking 10:08 you youtube embedding shitcock
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• #2081
debatable
You think Saylor would have been better off to have done share buybacks...?
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• #2082
We did that at my daughter's birthday party. But on a much smaller scale
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• #2083
If you asked the average CEO if their business would best served by pumping all available funds in to bitcoin rather than re-investing in the company you may not get the response of "On the face of it seems like a smart move"
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• #2084
On the face of it
This is a pretty a strong term and I'd interpret it to me, pretty stupid but got lucky, for now.
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• #2085
re-investing in the company
Buybacks are reinvesting in the company only in a financial engineering sense, it's not investing in productive capacity or anything useful. They are aiming to push up the share price.
I'm not a banker, but both are investing in a financial asset, rather than in productive capex, to increase their share price. I don't see such a big difference.
If you asked your CEOs if they wish they had invested in bitcoin rather than in buying back their own shares you might not get the answer you are assuming.
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• #2086
What I mean by that is, objectively, he has increased his company's market cap way more by buying bitcoin than he would have done by buying back his own shares. I'm not saying anything about the future, only the past. Whether it was foresight, skill, luck or whatever isn't relevant to the result.
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• #2087
You guys make this so boring.
Back to drugs and yachts and supermodels and losing USB sticks in the trash and that kind of shit please.
Shall we plan a $100k BTC party on your yacht? Would be a shame if we all lost our wallets in a boating accident, tho...
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• #2088
Buybacks are reinvesting in the company only in a financial engineering sense, it's not investing in productive capacity or anything useful. They are aiming to push up the share price.
They reduce tax burden and increase the value of the company if only on paper. There's a reason companies do it over keeping the profits.
I don't see such a big difference.
One is increasing the value of your company, literally the no1 goal of public companies. The other is effectively gambling.
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• #2089
Kinda depends on how cool the accident is..
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• #2090
increasing the value of your company
Saylor has increased the value of his company!
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• #2091
By effectively gambling. If he'd pumped all that money in to GME and made a 1000% profit it would have still been gambling and still not "smart on the face of it"
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• #2092
But really its gambling as about 5 mins ago a lot of these institutions were saying crypto was a joke now they are over night experts.
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• #2093
All CEOs gamble. They make one way bets with other people's money which make them very rich if they come off, and leave them comfortable if they don't.
'On the face of it' seems to have been a trigger phrase which wasn't my intention. What I meant by it was 'based on the results we can see today'.
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• #2094
On the face of it' seems to have been a trigger phrase which wasn't my intention. What I meant by it was 'based on the results we can see today'.
Lol yeah that's an entirely different meaning. On the face of it I thought hitting my thumb with a hammer would be a good idea but based on the results I don't think it was a good idea.
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• #2095
On the face of it I thought that putting all my savings on 12 at the roulette table was a reckless thing to do but it came up 12 so based on the results I think it was a good idea.
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• #2096
Assessing a decision on the outcome is biasing the assessment as a lot of poor decisions turn out well. It should be assessed on the information available at the time.
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• #2097
a lot of poor decisions turn out well
Learn something every day - I always thought that a decision that turned out well was a good decision!
I don't claim to know much about Microstrategy and I am only going on the info available to me, which is what is out there plus what was in that linked article, which I found interesting.
I get the idea that some people think Saylor just punted on bitcoin on a whim. It's a public company so he will have had to think it through, develop a coherent strategy, model it and describe it, and get it past his board. You, or I, may not agree with it - and it might be different from what every other company (barring maybe Tesla) has done, but that provides no basis to say that it isn't thought through and that it isn't credible. And, if the goal by which you judge it is increasing the value of the company, it's hard to argue that - based on what we know now - it hasn't been very successful.
Of course it may well fall apart tomorrow, but there are certainly plenty of reasons to believe that it might not. If you really think it is bullshit, you can always short it!
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• #2098
^ This. The guy is a genius, and was a former bitcoin sceptic, so you know he's done the numbers. Interestingly, this article was part of the board of directors' education materials, and definitely helped change my opinion.
Lots of folk think what Microstrategy are doing could have some pretty dire consequences, too (or fortune-making, whichever side you're on). These guys reckon a short squeeze scenario similar to GME could play out, given the share price is so closely correlated to a (potentially) runaway asset:
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• #2099
I always thought that a decision that turned out well was a good decision!
Huh? Really?
I closed my eyes and ran across the road. Didn't die, crossed the road quicker than I've ever done before. Good decision!Seems you're conflating good decisions with good outcomes.
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• #2100
Sarcasm
...
That reminds me of this one time a supermodel lost her usb full of btc up my arse because the sea was too rough for our yacht.