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Good to have more options, but people are better off taking a second mortgage or using income products like MSTY if they are borrowing to upgrade their lives, which relies on Bitcoin appreciation in the short term given the duration of the loan. Not to mention the higher interest rate and stress from managing the LTV.

Born To Be Free 7mo ago

Ehh nothing against saylor, I respect him greatly but I’m skeptical of the MSTY model. I want to see it survive a 4 year cycle and see how it performs in the bear.

Even if it survives, those shares are still in the old system which I am strongly opposed to. You don’t truly own them

With Bitcoin, we own that asset. I can send those coins to nostr:nprofile1qqsvf646uxlreajhhsv9tms9u6w7nuzeedaqty38z69cpwyhv89ufcqpp4mhxue69uhkummn9ekx7mqpr4mhxue69uhkummnw3ez6ur4vgh8wetvd3hhyer9wghxuet5tm8sjr & nostr:nprofile1qqsvn0dkjt80raqrxd470c98n7zrdehmcvj6p5hgw3kyku6zyd8z0fqpzpmhxue69uhkummnw3ezuamfdejsz9rhwden5te0wfjkccte9ejxzmt4wvhxjmcrzzyf7 whenever I want and get my fiat. I don’t need to rely on a traditional brokerage that may or may not let me access my shares.

Jack took bitcoin to Wall Street not the other way around. This is a Bitcoin native option which provides us bitcoiners the opportunity to play in the financial games the wealthy has access to without forcing us to play their game which is built on fiat

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Discussion

DRE 7mo ago

The MSTY model is nothing new. People have been generating income selling covered calls for a long time. The uncertainty lies on whether or not MSTR can remain liquid and volatile over time.

If you’re giving up control of your keys and taking fiat in exchange, is that much different than owning shares of MSTY from a sovereignty person? I would say it’s a difference without a distinction.

You’re still trusting a regulated third party. If you like Strike more than say Fidelity that’s fine, but if the government comes knocking both of them are going to comply.

No beef with Jack and appreciate what he built, but we are dealing with the fiat system in both scenarios. What Strike allows, which has been offered by Ledn for years is just a bridge to tradfi. You’re giving up control of your keys and dealing with third parties. You can’t have your cake and eat it too. But now people can choose to trust Strike instead of Fidelity.

DRE 7mo ago

Perspective*

DRE 7mo ago

There are some advantages in that you get to avoid cap gains, but that comes at the expense of the high interest and short duration loan. People need to be prudent on when they borrow and how much.