Bitcoin / Bitcoins / Crypto Currency

A lot of things are significantly up at the moment. Sadly nothing I have is up 300%!

It does keep happening though. Presumably there will be another crash soon and again it won't go back down to where it was and rinse repeat.

https://www.youtube.com/watch?v=XbZ8zDpX2Mg&ab_channel=Alex

That sums up my opinion of it.

I'm just smirking because I didn't use mine to buy a pizza or drugs like I'd originally planned and now I can buy a yacht instead. But I don't really like boats that much so I think I'll just buy a LOT of pizza and drugs instead.

My only regret rn is not buying more eth when I should have oh well, have thought about selling everything and risking it for when it does crash as its got a bit wild. Like covid all over again!

I sold most of my eth at $11 as it rarely seemed to be going above $10, and a profits a profit. Hilariously I bought it as I thought I may have been able to reap some of those sick early btc gains but as it wasn't going anywhere....

The main thing stopping me from buying more and trading is that I find it addictive and if I'd never ever traded I'd c.$100k now, instead of next to nothing.

It's got months left to run if it follows previous cycles

To the moon

I sold most of my eth at $11 as it rarely seemed to be going above $10, and a profits a profit. Hilariously I bought it as I thought I may have been able to reap some of those sick early btc gains but as it wasn't going anywhere....

Read so many similar posts / tweets / reddit threads when I first got interested in bitcoin in 2020. Gave me a thick skin for all the volatility and convinced me to just sit on it for at least 5-10 years.

I've decided to hold on to mine until I can pay my mortgage off. Whether this will be down to increasing crypto value or decreasing mortgage balance remains to be seen.

That's my approach too, although I have blown some money on shit coins that were meant to be the next great white hope and are worth about 14 pence.

One someone I know keeps going on about is chainlink, I bought in and the arse fell out it. Waiting to see if it comes back around!

I have turned into a link marine about five years too late

There's a fascinating corporate treasury experiment playing out in the US [LINK]. Michael Saylor (Microstrategy) has been acquiring bitcoin for the company's balance sheet at a ridiculous pace. He / they bought all the way through the bear market to the tune of about $5billion, which is now worth around $14billion. It's a strategy that's taken them from a top 2000 company to being on the cusp of entering the S&P 500. Once in, there's a shit ton of unmanaged investment about to flow their way... increasing the stock price, which increases their bitcoin purchase rate, which increases the bitcoin price... and so on and so on.

Ponzi schemes have never looked so strategy

Yeah, the MIT rocket scientist really fell for this one...

Right, but reread your post and bring it back to fundamentals.

I mean overall it's a great example of public companies no longer functioning correctly in the financial ecosystem. Idk if there was a time when they did, but it feels like they definitely don't now.

The fundamentals of what?

But yes –their share price is up 350% in 6 months, and will undoubtedly have caught the attention of many other companies. Could be a totally new paradigm if others follow suit. Not to mention the unprecedented success of the US ETF launch.

In your post you've basically layed out why Microstrategy has turned itself into a ponzi scheme with no fundamental value (or at least a value totally unconnected with their business).

Your reply to Howard read as though you were dismissing their point.

They've turned themselves into a proxy for bitcoin, not a Ponzi. Plus, proponents of Ponzi schemes don't keep buying in...

https://twitter.com/saylor/status/1767178599390458285

So, a proxy of a Ponzi scheme?

I'm going to exit all my ETH to fiat post Decun.

I will then start accumulating BTC/ETH/SOL.

If you say so.

Its a dick measuring contest between him and Larry Fink. Simple as.

I'm just reading what you've written.

They've been buying a thing with the intention of increasing the perceived value of the thing, which will make the perceived value of their company increase, giving them more clout to buy more of the thing.

As you said... what fundamentals?

Interesting article.
Basically, while every other corporate has been 'investing' any spare capital and borrowings in buying back their own shares as a means to increase their EPS, he has used it to buy piles of bitcoin.

On the face of it seems like a smart move. Is it more of a pyramid than leveraged bybacks? I'm not sure it is.

They've been buying a thing with the intention of increasing the perceived value of the thing, which will make the perceived value of their company increase, giving them more clout to buy more of the thing.

Sounds exactly like bybacks!
I'm not saying MicroStrategy is a model of effective use of resources to produce useful stuff, etc, but I'm not sure what it's doing is worse by objective measures than current standard corporate practice.

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.