I dunno...Saylor was considered a role model, but he borrowed "through the nose" to buy most of his bitcoin.
Sure... .Saylor is likely getting a bit nervous now, and sure he might have contributed towards some of the "going overboard" ideas in regards to leveraging, yet he still did not go as far overboard as a lot of folks, and sure there might have still been some luck in some of his timing.. including that there might be some ongoing attempts to continue to search for his stops.. but I doubt that he is as "reckless" as people are making him out to be....
In other words, there are people who went way further than Saylor while using Saylor's ideas as a justification.
It is true that Saylor could have had gotten fucked if he had been holding some of his coins with FTX or even Genesis or with some similar irresponsible third party, so we are not necessarily out of the woods in terms of people not necessarily admitting to their exposure and/or their losses.. We still have some of the information about the relationships coming out of the woodwork, which can be problematic even if we might have thought that we had "responsible" custodians who were playing with their coins with some "yield" products.
I guess people just can't get rid of "leverage to the hilt" mentality.
It's not just people, the whole system is designed on various debt systems, and people get ahead by using debt so long as they do not over do it.. so we are getting tests on the differences between using debt and overdoing it.. and then sometimes other "mistakes" that could be made. Any of us could have used some of those products.. or just a portion of our BTC into some of those products or had business relationships with people who were using those products (and they did not disclose to us), and then we might end up trying to figure out if they are still good for their debt to us.. or if their behaviors had caused us losses.. and some of us might not be saying anything. Yet.
Maybe we all, as 'investors' can never have a true bitcoin mentality, hence the volatility.
We are not going to be able to transition straight into having bitcoin as the standard, and we are likely going to have to juggle at least the two systems (fiat and bitcoin), and maybe in our lifetimes, we might ONLY get part way to bitcoin becoming more and more of a standard, after thousands of more people get burnt..
Remember 2014-ish mostly individuals getting burnt.... and then currently more institutions getting burnt (although some pension plans were involved in some of this year's burnings), and maybe in the next cycle we will have nation states getting burnt.. or maybe this time we already had some smaller level governments who might not have disclosed some of their exposure to some of the failed bitcoin-related (or do we call those crypto, or debt or fake bitcoin?) systems.
I was one of "them" back in 2000 when I thought that my margin borrowing was safe...proceeded to almost zero out a significant brokerage account (sold to at least not owe any money) .
No leverage for me since (albeit i dabble in small bets on options).
We are likely going to be hearing some disclosures of various WO regulars who got burnt on some of the current products... remember Deathwish telling us about some of his matters while we were dropping down to $30k and then lower and he was supposedly disclosing his losses as he was getting supposedly liquidated but he still seemed to have been refusing to stop the process from happening, continuing to want to believe that the "bottom was in" when it wasn't.. and yeah, none of us knew.. and sometimes it seems difficult to protect yourself, even while it is happening, and you know about ways that you could get out of the bad situation and take an immediate haircut before losing all of the collateral.
What i have experienced during my HODL Journey till now is when the big players talk about BTC positively, there is always a big down trend after then. I wonder now how dip we will go from here?
A-) $14,5k
B-) $12K
C-) lower
or
D-) is it already the end of bottom line?
You are presuming down.. which may or may not happen. Good luck.. you will likely need it if you are ONLY preparing for one direction... and presuming all of the "BIG players" are talking their book... or whatever it is that you are trying to imply with your wish for down and your wish to attempt to call the bottom.
I dunno...Saylor was considered a role model, but he borrowed "through the nose" to buy most of his bitcoin.
I guess people just can't get rid of "leverage to the hilt" mentality.
Maybe we all, as 'investors' can never have a true bitcoin mentality, hence the volatility.
I was one of "them" back in 2000 when I thought that my margin borrowing was safe...proceeded to almost zero out a significant brokerage account (sold to at least not owe any money) .
No leverage for me since (albeit i dabble in small bets on options).
The only way it will drop to his liquidation level is if the fuckery is so high it can be easily exposed.
That is if Saylor is telling the truth about his liquidation level (let's say lower $3ks), and I even did a couple of sequential posts on this topic in fillippone's thread (
this one and
this one) in order to describe way that he could continue to buy on the dip in order to make his liquidation even lower.. if he really has the dollars that he claims to have.
Poll
