Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

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Very easy!

The iPhone company owner is a billionaire. Grin

The rest of them are just showing off their assets here, where one seems to be poor in them.

I thought it was racists and whites rule. But I like your answer better.

I saw this yesterday and didn’t even notice the racial aspect when making my choice. I’m not sure what exactly that says about me.

Saylor says he’s selling 100+ million dollars worth of Bitcoin next month… Just a reminder that he told people to sell their kidney and cash out their grandma’s retirement to buy BTC at $120K last year.

Gemini gave me this:

"Saylor clarified in follow-up interviews that for every 1 Bitcoin sold, the company likely intends to buy 10 to 20 more in the same month."

If true, then it's no biggie. He is firmly committed to Bitcoin accumulation.

[Source] CoinDesk -- 'A big nothing burger': A Q&A with Strategy's Michael Saylor on selling bitcoin

Then the only reason to do it would be number games... locking in profit/loss vis a vis taxes?

I am FINE with him selling, IDGAF. But thats od... I will be buying and selling at the same time! Wink

Lol.

I'm less fine with him selling when this is what he's doing with it. Think about it. He says he's going to buy maybe 20 Bitcoin for every 1 he sells to pay the dividend. The dividend is 11.5%. That's nearly 1% per month. He'll run through that 1 BTC he sells paying the dividend for the 20 he buys in 5 months... Then what? Not to mention people still don't seem to realize the BTC per share metric is a lie because most of that BTC is being promised to the preferred stocks. So in reality, shareholders will be seeing their BTC per share DROP under this plan while increasing their liabilities. Every day this situation gets worse and people find new excuses to justify it. Remember "nothing burger" and "no biggie" in a few months.

I certainly can make the case that his actions could be worrisome for the Bitcoin price at some point. And that's the problem with so much Bitcoin centralizing in one place.

That's just the tip of the iceberg. Because everyone is using the same few custodians to hold it.

But I can't bring myself to care about what he's doing with his company beyond the fact of just realizing that it could rock my personal boat all over the place.

I liked the version of Saylor that was the Bitcoin evangelist and seemed to really understand why Bitcoin is different. But he was showing his true colors back then, too. He knew what to say.

And I would say this version of Saylor is now just taking the wheels off and trying to do everything he can inside the legacy system to execute the most complex and powerful speculative attack possible.

I would totally not be surprised if there was also cocaine involved.

But I don't see another way we can do this. Bitcoin has to be able to withstand this level of potential abuse.

This is also why I laugh at "fix the money fix the world" type stuff.

I do think Bitcoin as a tool is one of the most positive things to ever happen to mankind. But I've never thought that it would somehow overcome humanity's ability to fuck each other over endlessly. In fact, in some ways, it just accelerates our ability to do it.

The logical pathways for what's going on with strategy are pretty simple.

And the Occam's razor view of what the legacy system is currently doing is also very clear they are doing everything they can to gather up as much Bitcoin under their control as possible.

And even if their strategy was to try to shake all the money out of the tree and cut it down... along the way they have begun to realize that they are heavily incentivized not to do that. Lol.

And the hardest part of it all is, if it turns out they can, then we were all just fools.

Call me naive, but I don't believe that Saylor has such a devious plan for Bitcoin. But then again, people change, plans change, and power corrupts.

In any case though, if Bitcoin is to survive in the long run, it has to be able to withstand any and all possible attacks. There have been attacks, and there will be attacks. If it can happen, it will happen.

Whatever doesn't kill it makes it stronger. Bring it on.

Totally agree with you. I actually trust Saylor sort of. I trust him to do what's best for himself, and I don't think he's lying about what he thinks about Bitcoin The members of the Federal Reserve have probably wanted to figure out if they could destroy it.

I think what we're seeing in Saylor is the inevitable siren song of tokenizing all the things.

That's not going away. One of my favorites is Jack Mallers, who I actually have quite a bit of respect for. But he's always talking about shit-coiners and how Bitcoin's the only thing that matters and his product is based on Tron. Lol.

I have wanted to believe that we aren't going to have to relive the shit coin token storm thing yet again, but we haven't seen anything yet I'm afraid.

I posted something here years back where I was liking the sound of my own voice and I said something along the lines of "until the government figures out they can use Ethereum to recreate their entire system in the digital."

And I cannot see a future in which we do not have a significant fork again.

I think this is my version of cycle theory.

And we're going to survive all of them. I hope.

fork = free money

bring it

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