Bitcoins - digital currency
Bitcoin is a peer-to-peer digital currency. Peer-to-peer (P2P) means that there is no central authority to issue new money or keep track of transactions. Instead, these tasks are managed collectively by the nodes of the network. Advantages:
- Bitcoins can be sent easily through the Internet, without having to trust middlemen.
- Transactions are designed to be computationally prohibitive to reverse.
- Be safe from instability caused by fractional reserve banking and central banks. The limited inflation of the Bitcoin system’s money supply is distributed evenly (by CPU power) throughout the network, not monopolized by banks.
Total size 5,811,700 BTC
or 4,585,431 USD
or 3,545,137 EUR
or 133,094,323 RUB
or 3,849 ounces of gold
Any value to this idea or will it never work?
Tooth?
Just reading this reminded me of when I bought my first bitcoin.
Was just after the first attempt by the Winklevoss's at an ETF got rejected.
All I wanted to do was play poker in the US and moving money online was insane, until I discovered BTC.
Haha I remember getting checks from made up companies, due to poker operators being under some heat (I think it was bovada or acr don't remember), and hoping they we're good when I went to cash them in at the bank before BTC, jfc what a mess that was.
The mailed check days after Black Friday were brutal. You’d wait 3 months for a check and really hope it didn’t bounce.
I remember cashing checks at bank (WF) and the banker was asking me what the check was from as I was like 19 years old with a check from singapore for a few grand... Crypto definitely useful.
This was my introduction to BTC too. I did the singapore checks for a while, and then some sites wanted me use MoneyGram while I was traveling which had disgusting fees and small limits. Sometimes it would even be like $300 max and ~$50 fees, not to mention spending 30+ mins in a sketchy checkcashing places, often in countries where i didnt speak the language. Btc was a godsend.
Price DROPPING lol keep holding right? Microstrategy is legit and not a pyramid scheme? My friend is saying its a pyramid scheme.
Edit, thanks raiders72001. New to this game and appreciate your input!
My suggestion would be to still take the steps to learn self custody and handle it yourself. There is certainly more risk of loss of asset, but there are plenty of suggestions out there for safeguarding seed phrases, making sure you're never compromised, multisig, etc.
MSTR is your second best way of gaining exposure without having access to the ETFs, and the stock should keep doing really well in the long run, in theory. But as Michael Saylor says, there is no second best.
Also, MSTR is neither a Pyramid Scheme or a Ponzi Scheme, as many people like to claim. MSTR is a fiat leverage and stock dissolution strategy where the value is built on a treasury reserve of continued BTC accumulation and hodling.
Not your keys, not your coins.
Hey guys, hope you're all well.
Looking for some bitcoin advice. I have made a similar post in the what should I do with my investments thread. But here I am looking to pick your brains more specifically about bitcoin and microstrategy. I will add in my current situation.
Country I live in: UK
Income: $2-$8k a month
Risk tolerance: Very high
Debt: $0
Monthly expenses: $1-1.75k
I have recently got into investing and am doing quite well so far (as are most people in this bull market).
I don't own any pro
Re: Stress of storing seed phrase. If you don't use Shamir backup, then you can make your own from a normal 24-word seed phrase.
Eg:
Words 1-16 in one location
Words 1-8 and 17-24 in one location
Words 9-24 in one location
Refresh my shitty memory, wasn't toothsayer a huge bitcoin antagonist?
Correct. He got banned from this thread until bitcoin drops to 15k (or something around that number).
Not looking good for him/her. I think he should be unbanned at 100k for lols
ToothSayer was never banned from this thread. He voluntarily chose to take a break from it in March 2021 because he didn't want to be a distraction. As he explained at the time, he wanted to talk about Bitcoin, but the bulls just wanted to talk about him.
Before he left, he made a gentlemen's bet with housenuts as to which price BTC would hit first: $15K or $300K. Neither side has won yet.
Imminent
Going to hit 100k in the night and go back down before markets open and stay there for a while .
Been a long time! Been living the dream with my bitcoin money. Figured I'd stop in and drop off this gem from way back in the day.
My suggestion would be to still take the steps to learn self custody and handle it yourself. There is certainly more risk of loss of asset, but there are plenty of suggestions out there for safeguarding seed phrases, making sure you're never compromised, multisig, etc.
MSTR is your second best way of gaining exposure without having access to the ETFs, and the stock should keep doing really well in the long run, in theory. But as Michael Saylor says, there is no second best.
Also, MSTR is nei
Ok thanks man.
I have just ordered a jade hardware wallet. Not our keys, not our crypto!
I understand I will generate a seed phrase which I must keep safe, which can recover the wallet and effectively are the keys to my crypto. So am I correct in thinking if someone just got access to the jade hardware wallet then they can't just take my bitcoin? They would need the seed phrase as well?
Is there anything else I need to know, and/or make sure I do or do not do, in order to make sure my bitcoin will be safe on the jade?
Ok so about the MSTR. I get that they borrow very cheap debt to buy more bitcoin, and also issue new shares to buy more bitcoin. I get they have a software business as well, although not that profitable I believe. So basically the value comes from the bitcoin they hold. Now obviously people speak of the "premium" price you pay. The company is valued at three times the value of its Bitcoin stake. So my question is where does my extra value come from as a share holder buying at this premium? Where do I get my 2x back from? Like why is that worth it. Are people just buying it who are like me and from countries that don't have access to the ETFs and don't want to keep the physical bitcoin, or is there actually some value there I am missing?
Think I will go 35% bitcoin and 15% MSTR when I get my jade.
Ok thanks MeleaB, so with that 3 location setup if one location is compromised then the full seed isn't and as long as I have access to the other two locations I still have my phrase.
Thanks everyone, love this community. To all you bitcoin millionaires, congratulations, and **** you 😉
Ok so about the MSTR. I get that they borrow very cheap debt to buy more bitcoin, and also issue new shares to buy more bitcoin. I get they have a software business as well, although not that profitable I believe. So basically the value comes from the bitcoin they hold. Now obviously people speak of the "premium" price you pay. The company is valued at three times the value of its Bitcoin stake. So my question is where does my extra value come from as a share holder buying at this premium?
Any stock isn't just a summary of their current value; the price represents the summary of all expected future profit normalized to current day. For example, if a company generated $100 of profit every year, and had 100 shareholders, the value of the stock would not be $1; it would be $1 times the number of years you expect the company to be in business followed by factoring in time value of money (this is an extremely simplified explanation so please don't nitpick).
So, MSTR price being 3x the value of their current BTC holdings (and given they have minimal other revenue generating activities), it's a very bullish indication that the market as a whole expects the value of MSTR's BTC holdings to continue to rise. The market expects MSTR will continue to generate more profit on their BTC holdings and that's why the stock is valued more than their current holding.
There's a really big wall of sell orders at 100K. Looks to be pretty explosive if we can break through it.
sell orders... you mean shorts?
frankly I don't see the volume uptick to back up sell pressure.
strong resistance at 99.3k
So, MSTR price being 3x the value of their current BTC holdings (and given they have minimal other revenue generating activities), it's a very bullish indication that the market as a whole expects the value of MSTR's BTC holdings to continue to rise. The market expects MSTR will continue to generate more profit on their BTC holdings and that's why the stock is valued more than their current holding.
there's no reason the share-adjusted value of MSTR's BTC holdings should rise at any different speed than if you owned BTC directly or through etf. huge downside risk at this premium while the only upside is if people get dumber and bid up the premium.
MSTR will rightly continue issuing more equity to buy more BTC for as long as the absurd premium exists, essentially arbing current shareholders
strong resistance at 99.3k
there's no reason the share-adjusted value of MSTR's BTC holdings should rise at any different speed than if you owned BTC directly or through etf. huge downside risk at this premium while the only upside is if people get dumber and bid up the premium.
MSTR will rightly continue issuing more equity to buy more BTC for as long as the absurd premium exists, essentially arbing current shareholders
Why do you think investors are so eager to buy Saylor’s notes instead of just buying btc itself? I’m assuming the answer is a combination of:
-The investors’ corporate bureaucracy hasn’t signed off on buying btc, but it’s fine with buying convertible notes which are a more familiar investment vehicle
-After purchasing Saylor’s notes, investors can hedge to limit the amount of cash that needs to be immediately deployed.
It's going to chop 98-99k for months on end and I'm never going to sleep again.
Why do you think investors are so eager to buy Saylor’s notes instead of just buying btc itself? I’m assuming the answer is a combination of:
-The investors’ corporate bureaucracy hasn’t signed off on buying btc, but it’s fine with buying convertible notes which are a more familiar investment vehicle
-After purchasing Saylor’s notes, investors can hedge to limit the amount of cash that needs to be immediately deployed.
haven't read details about the convertible notes deal but your answers sound plausible.
Another way of looking at this is he is continually using paper fiat trash to buy more pristine global apex asset. Rinse, repeat.
another way of look at this is he is collecting people's paper fiat trash to give them paper shares that entitle buyers to half as much pristine global apex asset vs buying the asset directly. not a knock on him, i'd do the same, i'm just confused by the phenomenon
Why do you think investors are so eager to buy Saylor’s notes instead of just buying btc itself? I’m assuming the answer is a combination of:
-The investors’ corporate bureaucracy hasn’t signed off on buying btc, but it’s fine with buying convertible notes which are a more familiar investment vehicle
-After purchasing Saylor’s notes, investors can hedge to limit the amount of cash that needs to be immediately deployed.
There are tons of debt funds that can’t invest in equities or BTC directly but want exposure to BTC, and Saylor has found a way to tap into that. Ahead of the curve, again.
