This is a confession of fraud
https://x.com/Bitcoin_Teddy/status/1893821547841773871
Discussion
No it's not, why do you think that?
Proof of a broken system
Hahahaha, ok. You do not understand what you are talking about.
What do you understand?
The people that own the convertible notes have no claim on the Bitcoin. The notes either convert for shares at the strike price or they get paid back in cash. That is all he is saying. It's not fraud the buyers of the Converts know exactly what they are buying to say this is fraud makes you sound like a fucking idiot.
That is what I know.
When it convert to shares at the strike price, does it dilute current shares not taken into account currently (btc yield calculation)?
Not really. When they convert to shares the owner of the con art has already taken short positions all the way up. They can trade vs the convert with minimal risk. Once they convert the short positions and new shares instantaneous wipe eachother out.
Sounds complicated and situational. I honestly don’t know what that means.