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Discussion in 'The Mainboard' started by Nantucket, Jan 29, 2017.
Saylor is going total degen here don’t get me wrong but if we’re talking a timeframe of 2027 or 2028 when is the last time someone lost money with a long term view on btc?
I think the bet he is making is smart, but outsized. He's drawn a lot of attention and there will be people actively looking to take that move down and profit from it.
Different games being played on different time horizons. As long as it’s 27-28 he wins
Color me surprised if there’s a single person in this thread who actually understands the structure of the various instruments that he’s using, when they’re due, what projections his company has for revenue moving forward, and what their actual “risk” is when the instruments are due.
I’m not an expert on that and haven’t read or listened to something on it. I’m reasonably certain though that if btc drops to $20k tomorrow, it doesn’t mean shit to what he’s done.
Ya I have no idea how the board is structured or who could actually step in and force him to sell some But if the timeline of 27-28 is accurate I’d feel pretty comfortable it will be higher in 7 years. The insolvent at 18k seems silly. Generally speaking the hero worship in bitcoin never really never works out but we’re kind of in uncharted waters here with a guy betting the whole farm and doubling down every chance he gets.
His convertible offering was on like a 5+ year time horizon too. So maybe Whammy should chill with the random Twitter people acting like they’ll be bankrupt tomorrow, or explain why that’s the case.
For the board, he controls it iirc.
My issue here is more the speculation that Saylor is doing this because Elon is going to save the world rather than the more logical explanation that Saylor is going degen.
apologies if that wasn’t clear
Insert ETF rant.
New pod with Laura seeking narratives for price while Willy/Rafael refuse and give their thoughts on on-chain metrics.
I wouldn’t say we’re in uncharted waters. The Winklevoss twins own like twice as much as Saylor. They didn’t lever up to do it, but they also don’t run a public company that is cash flow positive. They’ve also been very public figures in the space for years.
When/if Saylor missteps, the space will kill him. He got plenty of shit for the miner council announcement and that was a pretty inconsequential event imo.
Alright how many paper mills did this dumbass buy?
Was googling around yesterday, Panteras PT for BTC EOY is like 150k, but that was before March so idk just throwing that out there
El Salvador’s president’s brother just finished a Twitter spaces with Pomp, Nic Carter, Balaji, etc. Columbia’s advisor to the President is now discussing with the same group. This is a wild timeline.
They’re voting on and passing the bill tonight as the president’s brother reports live from Congress lol.
Dbl is Peter Schiff.
I mean it hurts, but it’s funny.
That turnaround time. Sheesh
Crypto on fire right now, congrats user15000 Im sure El Salvador has to feel like massive validation. It is undeniably huge, next 10 years will be wild
El Salvador was big. I think the other countries that are now looking to follow suit is wayyyyy bigger. El Salvador might be an inflection point in mass adoption for sure.
If Brazil were to do the same thing, holy shit. Big GDP, 200 million + citizens, as big as the US by landmass. About to start rotating back to BTC
It had to be that way though. Highest risk profile takes the first stab. Same as the first funds who went in.
Oh yeah makes perfect sense.
Can't wait for the first FUD tying BTC to MS13
They're gonna need some of that good DeFi to park their BTC.
Fuck it bought some BTC
Fuck it bought a cat in a HODL sweater and made it my avatar
This thread is an enjoyable ride
I’m really tempted to make this my avatar to prove a point.
Excuse me that will cost you 1 ETH + gas on OpenSea
Thanks....don't really need the congrats though. It's honestly just surreal. This news came out Saturday, the bill gets passed Tuesday night, the bill is more aggressive than anyone in btc could imagine, tons of LatAm politicians are doing laser eyes (I know) and talking about btc on Twitter, and the President of El Salvador joins a Twitter Spaces as the bill is being passed for an hour+ to talk candidly to 20,000+ people while Mark Cuban, Jack Dorsey, etc. all listen in. It's wild, and I'm really just fascinated to watch how it plays out.
Given the homicide rate in El Salvador, not moving there with my future crypto riches.
But if Brazil starts offering citizenship, I’d buy a condo on Ipanema beach in Rio like tomorrow
I don't pretend to be a DeFi expert, but I did listen to this a few days ago. Why won't DeFi occur on btc? Legit curious to hear thoughts on this interview.
I didn't say it couldn't
Its not built out at this point though, and transaction volume would be a worry to build everything on BTC network alone.
Ya I wasn’t trying to straw man you. Just curious about defi generally on btc. My understanding is that it would all operate on layer 2s like lightning, sovryn, etc. Either way, the stats around the sovryn growth seem impressive.
Yeah I think BTC layer 2s, ETH, sidechains all will be needed if this thing accelerates this year. Plenty to go around with the options currently available.
Also custodial solutions to scale are probably going to be the most prevalent imo.
This kid is single handedly changing the world
If you paid an ETH for that you’re a fucking idiot.
But coming out of the bat saying this, when you don't know what exactly is behind the NFT, is pretty ignorant. There are 3 fucking idiots just in the last hour who have done so.
Honest question - if a country makes Bitcoin legal tender, then suffers an economic crisis - how do they get out of it? If they can't devalue their currency, then how do they speed recovery? It sounds like it would be Greece 2.0.
El Salvador is already in this situation. They’re on US dollars, which they don’t control.
I know it’s essentially a copy pasta of punks > apes > camels > cats… if you don’t see these iterations as a fad money grab for the creators idk what to tell you. I’m not anti NFT, I think some of the art is cool and the idea relative to ownership is pretty novel. It’s the Pepsi Rolex for the perpetually online, however you’re likely buying a limited edition Folex.
Yeah in this case - but moving forward I'd like to know. I realize this wasn't a unique situation to Greece. It's happened to a lot of places that chose IMF investment over protectionism.