pull down to refresh

BM Big Read: Are Bitcoin Treasury Companies Just Another Fiat Game? (JB)bitcoinmagazine.com/bigread/bitcoin-treasury-companies-how-to-think
725 sats \ 11 comments \ @denlillaapan 12h econ
zeeeero surprise for those of yous who've been paying attention to my stray thoughts on the topic in recent months. (#1043512, #1049004, #984224)
One side promises a fast-track to the hyperbitcoinized future we all envision, with corporate charters amplifying my sats on the way; the other, a cesspool of financial engineering and a hive of speculative mania quickly lining up Bitcoiners to have their fiat contributions repurposed as bitcoin yield.

It's a dirty job but someone's gotta do it!

Go read it... it's long af (5,300 words), cleared by legal, and entirely without any conflicts or nonpublic information! hashtag good citizen.
write
preview
related posts
29 sats \ 4 replies \ @028559d218 12h
How about some actual MoE usage of bitcoin? You know coffee? Lightning small businesses?
reply
0 sats \ 3 replies \ @denlillaapan OP 11h
Yeaheahyeah, we got that too. But it's so boring and simple that everyone's already doing it
reply
7 sats \ 0 replies \ @028559d218 3h
Doing what? MoE? Relatively speaking noone is doing that that's the entire problem.
The main users of the the chain, by choice not by technical limitation, are Chinese memecoin traders, NFT speculators, and bots.
Bots spamming op_return by the 10s of thousands with "uncommon goods" in the title... are the main users of the chain.
That and some kinds of weird NFT things... that don't make any sense.
Ignorance, laziness, and government policy are turning Bitcoin into a speculative commodity that people don't even custody themselves... it's held by someone else and there are practically zero places to spend it.
reply
0 sats \ 1 reply \ @Solomonsatoshi 4h
No they arn't. P2P payments protocol. Nearly DEAD - sweet FA activity on the blockchain in terms of payments - thus FA fees to fund security. Ripe for capture and control by the corporates and governments. Which is their agenda. Its now just a speculative commodity for corporate sharks and NGU remoras.
reply
21 sats \ 0 replies \ @028559d218 3h
I just don't understand what happened. This is an era of inflation, lack of trust in institutions, plus ever-diminishing privacy.
People have to KYC for goodness sake just to use social media or watch porn. How long until "getting online" itself is KYC?
Meanwhile society is like - peer to peer cash? Not needed. Don't want it.
Bitcoin was # 1. Monero was # 2. Monero got wrecked for being # 2... and it is currently dying to a shitcoin that rents hashrate.
Bitcoin is slowly fading away due to apathy, greed, and laziness.
reply
0 sats \ 0 replies \ @SimpleStacker 1h
Good article. I wonder if the claim that Strategy can survive an 80% drop in Bitcoin is too benign. Don't they have operating costs they need to cover? I doubt Strategy's software business can continue to sustain these operating costs in the long run. Moreover, I imagine that if Bitcoin does drop 80%, other knock on effects like lawsuits, regulatory scrutiny, potential coinbase implosion, etc, are bound to happen, which again increases operating costs
reply
0 sats \ 2 replies \ @bitcoingraffiti 7h
What a word salad. You're missing out on the biggest stock of the century. MSTR is gonna be the top company on the whole stock market and all you got were some salty articles in Bitcoin Magazine, an inflated ego, and some fellow suckers who believed it was a ponzi (because they missed out).
You could have praised the Saylor man for his good work, but you decided to be poor.
Such a sad story, man.
reply
0 sats \ 0 replies \ @028559d218 3h
I don't have anything against MSTR or saylor... but it's not what Bitcoin is about.
reply
0 sats \ 0 replies \ @Solomonsatoshi 4h
Saylor is a used car salesman. His strategies undermine the P2P protocol.
reply
0 sats \ 0 replies \ @SimpleStacker 11h
@remindme in 10 hours
reply
0 sats \ 0 replies \ @nitter 12h bot
https://xcancel.com/joakimbook/status/1956450680878637177
reply