Thread

Just look at trade volumes, orders of magnitude higher at the tops. Half the industry works for these firms now, everyone became a stock promoter, and sentiment followed TCo stocks much more than the corn price. Every podcast was about TCos for most of this year. Sucked in huge volumes of retail capital (who are the target audience)

But retail doenst have enough to move Bitcoin price anyway. Like I said, did $20B flow into these stocks?

Essential reading.

I ran the numbers. Theres about 3 months since launch could you have bought, and been better off that your original CAPEX today, especially once you factor in taxes.

Crazy. I can't believe anyone thinks you can get paid 125% annual dividend and it be sustainable.

^ do you have any data to support that they didn’t buy BTC volumes close to the amount investors gave them? @_Checkɱate 🔑⚡🌋☢️🛢️

Spend an hour looking through how many TCos actually bought Bitcoin outside PIPE deals by insiders, or questionable convert deals with whales who have the right to call their Bitcoin back if the stock doesn't appreciate. There is so much fagazi below the covers.

Pebbles in a pond.

Well there was always going to be leakage as management has to get paid (and healthily I may add). A lot also never actually bought BTC outside pipe deals to insiders, and a bunch ran these scammy BTC converts with whales (whale can retract their BTC if the stock price doesn't moon). Question marks at every corner.

@_Checkɱate 🔑⚡🌋☢️🛢️ "Well there was always going to be leakage as management has to get paid (and healthily I may add)." Yes this is the central issue. And I know you would know as I'm sure you were amongst those who, due to your public persona, were offered enticing endorsement deal. When it gets to that stage when they would be so desperate to perpetuate the mirage at any cost, you know the whole thing has gone upside-down. Time to unwind. Personally I'm glad it bursts now and not later on. Such pathetic money grabbing. Good on everyone who just stack pure hard unconfiscatable bitcoin, for the uptenth time, once the market sorts itself out, the stackers will be vindicated.

I'm 99% certain this was put to you in a pod regarding ETFs, That games would be played, you said it would be near impossible Wherever humans are present. There will be a grift. Just stack relentlessly

I would have said it would be highly unlikely that the ETFs were unbacked, and not hold the coins. I still hold that view.

I was offered a 'Head of Bitcoin strategy' role at 5 treasury companies. I said no to all of them, without asking anything about the package. Not interested, I love my job as it is.

This.

I just enjoyed it full stop. Anyone playing games gets dusted. It's a free market at its finest

It'll be a back up the truck event.

I never short, I just stay humble and stack sats man. I analyse the market because I love solving the puzzle. Trading is for the 0.01% who can to it.

Thanks for answering! And with an awesome answer too. Will you unblock me on X now? 😆

Only if you explain why you're being so difficult? You were pestering Anja with these silly questions about me 'being short' too, and I want to understand what your problem is?

I think I had discussed this you previously...my main issue was your frequent referral to dollars as money and the implication that Bitcoin was an investment to make dollars with. I disagree with that view, which I think was fair for me to do. The mistake I made was assuming you were doing that because you were a trader, not a stacker. That's my bad, and for that I apologise.

The dollar is money, and it's just intellectually dishonest to say otherwise. I don't think I've ever said Bitcoin is just an investment to make dollars with, what I would have said is 'the vast majority of people do in fact believe that'. As evidenced by their behaviours, of selling in bull markets. Your mistake is actually thinking I am expressing my ideological view, but instead I am simply pointing out the objective facts about how the market operates. You will find that people like you and I, that see bitcoin as money and fiat as trash, are the smallest minority of people. Most people have no fucking clue, and are indeed fiat maximisers. Not the world we want, hut the world we live in.

I agree with you on that. Like I said, I apologise for misjudging you and for being too toxic of a maximalist. I don't have trouble stacking sats, but I do have trouble staying humble.

I think of the dollar as currency not money... The difference may be semantic, but the distinction matters...a lot...to me.

Apprexisted, and apology accepted. What's your X handle?

@bitcoinfinity

You're separating MoE and SoV/UoA in this distinction. Which is by the way what id happening, the savings asset function of bonds (dollars with yeild) is being replaced by gold and Bitcoin. Currencies are gov issuee monies which have shit SoV properties. Money is still the parent umbrella.

That's fair and fine if you are speaking to a classical economist....but when you are trying to explain these complex concepts to a broad audience, like you very often do, it is important to simplify even further. Especially if you are a Bitcoin advocate. Crap money is not money. Sound money is money. I strongly believe we should move away from referring to dollars as money if only for this purpose alone. Also there is a very strong school of thought, no less than from @jack himself, that Bitcoin must become a MoE to succeed. Resigning our fate to saylor-esque / fed / BlackRock views that the dollar will not / should not be replaced as a transactional medium is likely selling ourselves short. Now...would you like to zap me in sats or cents?

This was a good thread. Healing even, in this dystopian age of social media induced human dysfunctiion. I feel lighter. thank you both.

You're going to lose people with that approach. By saying the money people literally use day to day isn't, but your internet funny money is, you've lost the audience. This is why Austrian economics never takes off. People who pitch it ALWAYS lose the audience in the conversation. I understand you, most people won't hear it.

Ya I suppose it's just the difference between gentle public pandering vs. more abrupt truth bombs. Both work for different people, and most bitcoin'er types prefer the latter, as do I.

It totally disappeared. If you buy a stock at $100 and the next day it opens at $10, you've destroyed 90% of your value The guy who sold you the expensive stock was eitheran insider getting paid, or an original owner of whatever the business model was before bitcoiners took over management

But what if we think of it in terms of a bitcoin hard money fixed supply world that we hope for. Someone pays 100 sats, and next day only worth 10 sats. But the bitcoin/capital hasn't been destroyed, it just changed hands.

The best Hodl quote

Looks like you’re 82k is looking on point, Mate😅

No mate, just pointing out some realities as i see them. Which is what analysis is the process of doing.

Insiders got paid.

was that such a big phenomena to affect the flows of a 2T asset?