there is a new breed of influencer that is convinced the best way to stack sats is to buy msty stock
and thats why the stay humble part is important
Discussion
you mean msty humble đ¤Łđ¤Łđ¤Ł
This is going to be interesting to watch play out. On one hand, the covered call strategy does conservatively monetize the volatility of MSTR (and by extension Bitcoin if you believe they have all the Bitcoin they claim, which a lot of people donât). On the other, nothing is better than bitcoin for absolute value appreciation, if you believe in Bitcoin.
I see the case for a portion of a bitcoinerâs wealth being âconservativelyâ exposed to bitcoin to enable the freedom of everyday living without having to sell your coin. Maybe even leveraging a loan in order to do it. Instead of exposing yourself to a disappointing âsupercycleâ like weâve experienced.
I donât knowâŚa lot of the promises of the OG bitcoin influencer class - yourself included - have gone unfulfilled for the Class of 2021
When you understand that whoever has the most bitcoin wins you dont actually buy bitcoin
Everyone who has bitcoin wins.
Indeed
I visualize all these alternatives orbiting bitcoin as it progresses. Sometimes an orbiting alt may be traveling faster forward⌠but they are eventually flung from orbit. They cannot attain âremain velocityâ haha âremain gravityâ maybe
đ Proof-of-hype isnât a consensus mechanism.
đŁ Canât print sats with stock tickers.
stay sats, stack humble
If they mean stacking sats for someone else, I guess... but they're not actually stacking them for themselves that way!
Self custody is the only true sat stacking! đ
This is what happens when there are more "influencers" than âżitcoiners. And why you are considered an honest and trusted source of information. Stay humble indeed.
Time is the flattest of circles
True. Will become much more accepted over the next year, wonât last though
Why wouldnât it last? Serious question. Selling covered calls is a legit investing strategy. If MSTR is successful, products offering covered calls should be successful, too.
Itâs just not the best way to stack sats. Stacking sats is the best way to stack sats
I am still studying MSTY and IMST so this is a response from my first impressions looking at the product.
From the way I see it, MSTY isnât about stacking sats. Itâs about hedging out purchasing power volatility in the near term. Just like ânever sell your bitcoinâ at some point, youâve got to manage the uncertainty associated with bitcoin. Iâm 5+ years into this journeyâŚand the returns for the cohort of bitcoiners who discovered bitcoin around the time I did are the worst 4-year hodl risk-adjusted returns in Bitcoinâs 16 year history.
The uncertainty has led me to pass over good fiat mine opportunities and sell a little bitcoin at inopportune times (like tax season - 25% below the ATH). Using a (small) portion of your wealth generating fiat yield while still getting bitcoin exposure in an attempt to hedge bitcoinâs volatility isnât *obviously* stupid.
Now if MSTR ends up imploding because they donât have their BTC then thatâs a different argument.
Yeah I agree on that. Pointing back to Odellâs post though, heâs saying that influencers are saying âMSTY stock is the BEST way to stack satsâ
And Iâm saying a lot of people will come to believe that, but I donât think it will end that way. Because they arenât actually âstacking satsâ.
For what itâs worth, I own MSTR, but also recognize itâs not bitcoin.
Same.
STAY HUMBLE AND STACK ZAPS âĄď¸
But what ever could go wrong? đ
These are new tools that just came to market due to the massive amount of demand. This is what actual adoption looks like in reality and was inevitable.
Itâs not the best way to stack its a tool that can help you HODL longer depending on your personal financial situation. It doesnât take away any demand from bitcoin it only adds to it. These products only increase buying pressure for bitcoin and is speeding up the adoption process and bringing a new type of investor into the bitcoin ecosystem.
Selling your bitcoin or taking out a loan against it isnât much of a solution either especially where we are in the cycle.
Sad to see all the newcomers get sucked into that. Oh well. Theyâll learn that the stove is indeed hot
so it begins
high time preference hodling is ironically comical on its face.
I like bitcoin buy my stock đ
Bitcoin is so fucked. Lololol
allinmax needs to change his handle to $MSTYCuck
nostr:nprofile1qqs0nt9skq6vfsgh06v979rrnuchau87mmnk2lqxpv2xaeusqfp30mqpz3mhxue69uhkzmr8duh82arcduhx7mn99uq3wamnwvaz7tmzd96xxmmfdejhytnnda3kjctv9uq72urp look at me! I made a star wars meme! Mom would be proud
Get a job.
Lol
A few years back, people I trusted told me to use Celsius for yield on my corn. I was lazy and didnât do it. That laziness saved me. Not lazy anymore, still humble enough to see the same pattern.
Lots of people lost money in that debacle. Theyâll rarely talk about it though.
What a very eloquent way of saying âI donât understand risk.â
I don't understand why Bitcoiners get up in arms at people like this?
They've obviously not been holding Bitcoin in the first place. Second, that means there is more Bitcoin for us. We need to uplift and celebrate these people.
Iâm not up in arms about it. Doesnât bother me one bit, but I do find it funny.
Iâm specifically referring to this personâs statement of âAccumulating MSTY > Hodling BTCâ, and Odell calling that out two weeks ago đ
I just donât agree with this personâs statement đ¤ˇââď¸
Yaâll are so one sided. Why not bothđ¤ˇââď¸
Never said having both is a bad idea. I wouldnât be surprised if I always hold both MSTR & BTC.
Iâm specifically referring to this personâs statement of âAccumulating MSTY > Hodling BTCâ, and Odell calling that out two weeks ago đ
I just donât agree with this personâs statement đ¤ˇââď¸
TouchĂŠ.
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Ensuite, ils sont descendus les Amalequites et les Cananens, qui habitaient la montagne, et les ont blesss, les battant Horma.
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Quindi scendettero gli Amalequiti e i Cananei, che abitavano la montagna e li ferirono, sconfiggendoli con Horma.
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Then they descended the Amalequites and the Canaanites, who inhabited the mountain, and wounded them, defeating them to Horma.
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Dann stiegen sie die Amalquiten und die Kanaaniter ab, die den Berg bewohnten, und verwundeten sie und besiegten sie zu Horma.
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Kisha wakashuka Waamalequites na Wakanaani, ambao walikaa mlima, na kuwajeruhi, wakawashinda kwa Horma.
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Kemudian mereka turun ke Amalequites dan orang Kanaan, yang mendiami gunung, dan melukai mereka, mengalahkan mereka untuk Horma.
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literally celebrating instant gratification
this monkey should go back to scratching his nuts and stealing bananas
That guy doesnât realize how fucked he is.
$MSTY is the same as Blockfi "interest on #bitcoin " but in an ETF.
Pls expand why they compare.
Is there comparable degenerate actors that BlockFi lended to such as Three Arrows Capital?
MSTY writes covered calls (selling call options) on MSTR to produce income paid through dividends to the fund holders.
If MSTR goes over the strike price of the covered call they are forced to deliver MSTR shares to the call buyer. When the price of MSTR is significantly higher than where they sold the call it results in the fund having to purchase MSTR at very high prices. If MSTR rallies a lot they won't have the capital to purchase the shares; blowing up the fund,
This fund gets you 8% return per month until MSTR rallies a lot then it will implode. Picking up nickels in front of a steam roller. The only way this stays solvent is if MSTR falls in price or MSTR stock does not move.
https://volquant.medium.com/epic-failures-lessons-from-volatility-funds-blow-ups-6f4226c8334f
Here are some comparable strategies / funds. Underlying products vary but same general theory / trade.
This one is one of the more recent spectacular blowups. $XIV fund is a fun rabbit hole to venture down.
The new breed of influencers give long winded boohoo bitch reasons why they donât choose bitcoin right now.
Low time preference vs high time preference.