I hear this often and understand the perspective. But I’m not sure I agree — the price going to is also a reflection of Bitcoin’s growing adoption? And my purchasing power of my Bitcoin in real terms is going up?
1 BTC = 1 BTC for sure, but I think this argument you’ve stated is more apt at mature or full adoption. Then the price going up would only reflect the debasement of the paired currency.
Perfect note
Now do global bonds!
Subscribe to CarsandBids.com and BringATrailer.com. I lust after 90s Land Cruisers every week, but can’t justify the “extra” car purchase just yet
Agree with you. At much higher prices than current, which is the unfortunate part. But they will still be better off at that point, as is every person that adopts at any time (no matter how “late”).
I hear you, but I sympathize more with gold bugs because they are solving for same thing we are, but just can’t see that a better solution exists.
Much of crypto is actual fraud and VCs dumping on retail where people who don’t know any better are the victims. So, not sure bitcoiners vs crypto is the same as gold bugs vs bitcoiners.
Generally agree, but the unfortunate impact of this is that institutions, corps and HNW individuals are going to see this faster than broader retail. And that’s who’s going to hold most of the coins. That’s nothing fatal, just sad.
If altcoins proliferate, that’s market cap that’s not going to bitcoin. It’s distraction away from the main goal, which is replacing the money. Most importantly, the inverse of your statement is definitely not true—something specifically good for bitcoin like the SBR brings an exponential NGU effect for bitcoin vs crypto deregulation that also benefits bitcoin.
I do see your point though and agree broader crypto deregulation helps bitcoin too. If all cap gains on all crypto goes away, I think Bitcoin would benefit tremendously.
The Trump point (which was clearly the demand spark I was looking for) still worries me. I hope he follows through with Bitcoin-specific promises like freeing Ross and the SBR. But I’m worried this administration ends up being better for crypto than Bitcoin.
Hope I’m wrong!
That’s probably the right way to think about it. But MSTR would only convert at that price if the market price was above it. Otherwise, they would just keep as debt and pay the par value. Which probably involves liquidating some bitcoin…if they can’t otherwise refinance the debt.
That has to be it. But not what I would have expected. Public market degeneracy
Maybe this will make sense to you: https://www.microstrategy.com/press/microstrategy-announces-pricing-of-convertible-senior-notes-11-20-2024
Yeah, weird to me that Microstrategy would hold the option to convert them to equity. I think the missing piece here is what would drive forced paybacks or the “special interest” referenced. Because 0% notes at par would only make sense if the equity is worth less than the 55% premium, but MSTR holding the conversion option is very company friendly. I don’t see the return for investors in this case, so leads me to conclusion that the “special interest” triggering events and pricing must be sufficient return. Otherwise it’s “tails I win, heads you lose” for MSTR
Pretty sure it’s convertible at the option of the holder, and it basically allows them to choose between the par value / 1.0x liquidation preference and the as-converted stock value. It’s just downside risk protection.
Raking kids. Bagging kids. Transporting kids. Basically the same
This is how I feel too. Except when it’s not leaves, it’s kids.
I can’t imagine. I was late to the party, but only have a buy button. Have never sold a single sat
When did you seriously get in? I’m class of 2020. I’ve always thought that when bitcoin hits $1M, I’d really kick myself when it hits $10M. So my target is $10M - very scientific 😂😂
Pretty easy to envision a 10x from here.
It keeps getting better and better. Incredible character development