2017 vibes but with ipos instead of icos
Discussion
IPO a bit healthier than ICO I guess 😅
Didn’t call it, simply listened to people smart that me before putting numbers into excel. If anything, I’m more bullish than I was then. 1.8m by September may be optimistic, but never say never. https://primal.net/e/nevent1qqsf3v3qgel6ae09y5usje6xksf9geeesdq9cjxtswgxjn469wyck4czqf755
What does that mean for those of us staying humble and stacking sats?
it means we are not crazy
keep stacking
My fingers hurt
i dont know what this means but i am concerned for you
Plebs gonna get carpal tunnel from all the smash buying.
Strike and River have auto-DCA. I never smash buy anymore. Just 10% straight to sats
Same here but with Cash App, because Strike and River are not available. I also have the debit card so my round-ups from every coffee, subway ride, anything paid for day-to-day with fiat go straight to sats.
Sir, can you please inform my wife of this. 🤣
I’ll let her know tonight.
Thanks. Make sure to read her a story before bed.
I retract my jerk statement. I’m trying to be better. It takes time.
I was just stoked you were coming over. Figured we'd blaze on the front porch and discuss separation of money and state.
BiTcOiN eXpOsUrE
we all know what will come next 😅
Seems that we are all to suffer the 58k crew at different levels. I really need to expand my time horizons… 108k crew forever.
nostr: note1rqkv67x872fkj3fz3u7z7de39ukwf4m2a8utrhzzxrmmraw8wsmsdr48yq
Except this is fundamentally different since they are backed by Bitcoin, no? Save for a Black Swan or just massive amounts of paper Bitcoin and rehypothecation happening, this should be as safe a play as their could possibly be.
If Bitcoin has a significant drawdown past highs when all of these various actors are buying up multiples of daily minted supply, OTC desks and exchange levels consistently dropping, it will be time to scrap the scarcity narrative because the math ain't mathing. At that point we'd also probably have to have the difficult conversation that it's been captured by tradfi, too.
definitely different but the guys behind the eos ico still own 164000 bitcoin
they just didnt give any ownership rights to token holders
Right, seems different getting people to trade their dollars (backed by nothing, large network effect) for shares (backed by bitcoin, large network effect.) The ICOs were backed by nothing and had a small network effect.
I do think the next leg down will be over leveraged forced-seller bitcoin companies, but I’d also expect big companies like AAPL or META to buy them in that case to acquire coins without moving the price as much as it would if they had to get them at the market.
Is any company buying Bitcoin with short-duration secured debt?
Seems like most companies are doing some form of ATM or low-interest long-duration debt to buy bitcoin.
Either way, a reckless company with a $ 1,000 BTC balance sheet having to liquidate will get eaten up by Strategy’s 4 ATMs in less than a week.
When Strategy is buying $1B a week with the ATMs, it won’t matter how many no-name companies are buying Bitcoin with credit cards and getting blown up.
By that point, MetaPlanet will be buying thousands of Bitcoin a month with their MSW program as well. And then you have the ETFs, Nakamoto, etc.
Nothing stops this train.
nostr:npub1vemf09ljxzeanx2ht7wzzenphchw3yvjzzp6a4pdp8k8v6qj58xs43mz3k BBRC
Those sats are forever gone. Forever
There are only a few now, but wait until 1000 companies pile in.
Strategy bought ~50,000 in the span of a month last fall. People underestimate their scale.
Assuming 1,000 companies will recklessly acquire Bitcoin when the playbook for success is open source is unrealistic, in my opinion.
What if all the 1,000 companies buy Bitcoin with ATMs? The stock prices may and will likely boom and bust, but no Bitcoin will be sold.
NOTHING stops this 🚂🍊🍊🍊
It's still a shitcoin that is "backed by Bitcoin"
Wait, you can acquire bitcoin with other people's money in exchange for unenforceable promises???
“We buy bitcoin so you don’t have to”
🎯
It's like Nostr tapped into his subconscious chatter
Where's my fork?