BTCUSDT20240805C60000
Bitcoin / Tether USD Aug 5 2024 60000.00 Call
crypto

So you have foolish put all your money in one play at BTC and you think everyone else should do something equally as daft and go short on btc.
May be go learn about investing instead of gambling on gut feels.

Makes sense. The idea of accessing liquidity without selling your BTC is pretty compelling. I'm more comfortable with self-custody, but it's good to see how BTC-backed lending is evolving.

Only invest money that you can afford to lose. People that are too greedy are the ones losing the most. Nobody knows the future of BTC and if it will grow or fail.

PL "floors" are whatever you want them to be. My PL updates every day, and today it's 5.28E-17 \* day\^5.62. I draw a line at 40% and 45% of the PL model. 5413 data points though yesterday, and 0.72% are below 40% and 4.01% are below 45%. Yesterday, those floors were $51.0K and $57.4K. If the PL equation were to remain unchanged through the end of the year, the 40% floor won't hit $60K until 27 Dec 2026.
If BTC slavishly follows previous cycles, the bottom is somewhere between $30K and $40K. (I have a BittyBot prediction that it won't go below $40K this year, but that's a story for another day.) So it's possible that both the PL floor AND the cycle floor could be wrong this time.

It’s a lot of extra precautions the vast majority of people will not use or care too…and if not many people use cold wallets…which even now isn’t many…what benefits does BTC have over tokenized assets/commodities to almost all the people on earth?

You have to consider that only a tiny number of individuals actually hold meaningful amounts of BTC.
Not that one wallet= one person, but there are about 13 million addresses that hold .01 BTC or more. This suggests that in amongst the general public across the entire globe, owning .01+ is very unusual.
The reality is that these institutions are WAY ahead of the overwhelming majority of retail.

Nice. Are you also looking into other ways to use your BTC, like native staking, or are you sticking with a pure buy-and-hold approach?

The STRC IPO is already borderline a failure for common stock shareholders. They bought the BTC at 117k and with BTC currently at 64k they are effectively paying almost 23% interest. A couple years of that and it won’t matter what BTC eventually does, they will have diluted so much in the first years that BTC per share will forever be lower than if they just hadn’t issued the IPO.

He has no other options. Microstrategy hold so much BTC that selling any significant amount would drop the price enough to impact his loans and also share price. He has to keep buying till the end. What is telling is that BTC has dropped significantly and yet he’s buying less. That means their funding line has reduced significantly. The clock is ticking…

It absolutely is based on that. It's a public company subject to strict regulations.
His entire strategy hinges on acquiring as much BTC as possible, yes. But the primary way he does that is harvesting cash from other sources when the market conditions are favorable to do so.

BTC AFRM 6/26 77c +55%
BTC TMC 7/17 8c +67%
BTC GOOG 7/17 385c +73%
BTC XYZ 7/17 80/85c +33%
BTC O 7/17 65c & 62.5c +70% & 42%
BTC NVDA 6/26 217.5c +48%
Trimmed SNDK and MU shares.

Well, remember, he is holding a ton of BTC in there as well. Don't forget that upside!

They can. It’s just that all of the last several sales have been dilutive from a BTC per share pov

Plenty of people bought BTC didn’t “know” anything more than anyone else and became millionaires.
Most people buying and holding these assets through massive price climbs are just lucky gamblers. Chances are the person who bought NVDA at the right time wasn’t any wiser than you, they just happened to win the lottery

MSTR continuing its drop from $132 this month down to $108.
STRC continuing to fail to re-peg.
They're gonna have to raise the yield, which will cost them. Which means they have to either sell BTC, or use up their cash reserves which means less cash to buy BTC.
But if they lose cash reserves or even sell BTC, the incentive starts to disappears, and more people are gonna leave.
If STRC is below par and getting costly on yield, it won't be able to help them raise funds, So they might have to dilute shares or MSTR to raise cash. But that could drive even more people away.

It is not and anyone that thinks so has drank the kool-aid. What bitcoin has that other coins don't is a good history.
It was the first crypto-currency and originally created as a computer science paper unlike 99.9% of the ones that came after btc had been running for years which only did so to try and capitalize on the new technology. It is also speculated that the original creator of btc died when it was somewhat new since their wallets adresses have been untouched for over a decade even though it's worth billions now.
This gives legimacy to BTC because the original creator is not around to influence it anymore, they also can't sell their enormous stack and bring the whole market down. So it truly belongs to the community and changes have to be agreed upon instead of being forced.
Now these all are very hard to replicate or improve upon so coming up with a new and better cryptocoin is very hard. As for the value it has, that's the ideological part, how much do you believe a money that isn't subject to any one government on earth and depends on the collective effort of millions of people through the internet is worth? For me that depends on the way the world is going and from the looks of it we're heading to an authoritarian era with countries closing their borders to both goods and people so a money that dodges that scrutiny is very valuable in my eyes.

All those coins have trading algos tied to BTC. That's why they can't do much unless there's just overwhelming buying demand.

No, because it likely means most instutitons are abandoning BTC and its chances of being a reserve currency is low, which means widespread adoption and its subjective value will not be high

I like BLOX and hold some . Right now is a great time to buy BTC-related equities IF and ONLY IF you are Bullish on BTC going back up to the 90's 100's. I am holding my -38% BTCI / -45% ICOI because I am bullish on BTC.

Yeah, talk about crabbing, the BTC/BTC pair has that shit looooocked. Cue the do something meme.