OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
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Portals - Magic Eden
The Metaverse on Solana. Explore downtown, invite friends, chat, build, show off your NFTs — right in the browser.
magiceden.io
I've been slowly accumulating Mana. Havent done my own DD, but some people close to me in crypto have conviction behind it.
Here's the thing though, I'm at a point now where I have little to no desire to purchase anything other than btc. The events of the last 2 years and only made my resound towards btc grow stronger. It's genuinely frightening...
- Assets of Russian oligarchs being frozen internationally
- Removal of Russia from SWIFT banking system
- Freezing of accounts from Canadian citizens. Some for making a legal donation to support truckers, later deemed illegal
- Runaway or hyper-inflation (remember in 2020 when "they" said there was no inflation, or in 2021 when "they" said it was "only transitory")
- Excessive money printing
- Big tech banning dissenting POV's
- El Salvador adopting btc as legal tender
- Crypto mining clauses holding up the transportation bill in Congress
- Crypto futures ETF approved
- Personally, Chase bank banning me from depositing USD in certain crypto exchanges
- Mass acceptance in the public.
- Lightning network
buy btc. It's not going anywhere. Just like the internet
Thanks for this. I have also been buying up ETH besides BTC as I feel like the proof of stake in the "merge" will help make it more feasible as well as more scarce so hopefully that helps its viabilityI've been slowly accumulating Mana. Havent done my own DD, but some people close to me in crypto have conviction behind it.
Here's the thing though, I'm at a point now where I have little to no desire to purchase anything other than btc. The events of the last 2 years and only made my resound towards btc grow stronger. It's genuinely frightening...
I could go on here. Once Spot ETF's are approved, the demand will account for 50% of new btc that are mined after the 2024 halving. Be mind of what is essentially a double halvening.
- Assets of Russian oligarchs being frozen internationally
- Removal of Russia from SWIFT banking system
- Freezing of accounts from Canadian citizens. Some for making a legal donation to support truckers, later deemed illegal
- Runaway or hyper-inflation (remember in 2020 when "they" said there was no inflation, or in 2021 when "they" said it was "only transitory")
- Excessive money printing
- Big tech banning dissenting POV's
- El Salvador adopting btc as legal tender
- Crypto mining clauses holding up the transportation bill in Congress
- Crypto futures ETF approved
- Personally, Chase bank banning me from depositing USD in certain crypto exchanges
- Mass acceptance in the public.
- Lightning network
buy btc. It's not going anywhere. Just like the internet
I worry that the deflationary nature of the token is going to do itself in as a utility.
Solana NFT’s going to be offered on OpenSea as early as next week. This is big.
I've been slowly accumulating Mana. Havent done my own DD, but some people close to me in crypto have conviction behind it.
Here's the thing though, I'm at a point now where I have little to no desire to purchase anything other than btc. The events of the last 2 years and only made my resound towards btc grow stronger. It's genuinely frightening...
I could go on here. Once Spot ETF's are approved, the demand will account for 50% of new btc that are mined after the 2024 halving. Be mind of what is essentially a double halvening.
- Assets of Russian oligarchs being frozen internationally
- Removal of Russia from SWIFT banking system
- Freezing of accounts from Canadian citizens. Some for making a legal donation to support truckers, later deemed illegal
- Runaway or hyper-inflation (remember in 2020 when "they" said there was no inflation, or in 2021 when "they" said it was "only transitory")
- Excessive money printing
- Big tech banning dissenting POV's
- El Salvador adopting btc as legal tender
- Crypto mining clauses holding up the transportation bill in Congress
- Crypto futures ETF approved
- Personally, Chase bank banning me from depositing USD in certain crypto exchanges
- Mass acceptance in the public.
- Lightning network
buy btc. It's not going anywhere. Just like the internet
Ok thanks.. I’ll need to add more.
Relatively nonexistent, one of the main selling points of Solana. Average transaction is fractions of a penny.
Great post. Focusing on growing my BTC is priority #1. Next is to increase my ETH position by 25-30%, which will get me back to where I was with ETHE.I've been slowly accumulating Mana. Havent done my own DD, but some people close to me in crypto have conviction behind it.
Here's the thing though, I'm at a point now where I have little to no desire to purchase anything other than btc. The events of the last 2 years and only made my resound towards btc grow stronger. It's genuinely frightening...
I could go on here. Once Spot ETF's are approved, the demand will account for 50% of new btc that are mined after the 2024 halving. Be mind of what is essentially a double halvening.
- Assets of Russian oligarchs being frozen internationally
- Removal of Russia from SWIFT banking system
- Freezing of accounts from Canadian citizens. Some for making a legal donation to support truckers, later deemed illegal
- Runaway or hyper-inflation (remember in 2020 when "they" said there was no inflation, or in 2021 when "they" said it was "only transitory")
- Excessive money printing
- Big tech banning dissenting POV's
- El Salvador adopting btc as legal tender
- Crypto mining clauses holding up the transportation bill in Congress
- Crypto futures ETF approved
- Personally, Chase bank banning me from depositing USD in certain crypto exchanges
- Mass acceptance in the public.
- Lightning network
buy btc. It's not going anywhere. Just like the internet
If you have access, buy a little $SHDW. They will be the storage solution of choice on Solana within a year. Currently around $0.72. Comparable storage providers currently trading between 90-200x. The biggest developers on Solana have been raving about their product for months as they've been building, they're launching at a greater scale in the next week or so.
Another great newsletter from Pomp. Since most of us in this thread are crypto bulls, I'll paste it here:
Michael Saylor and MicroStrategy have pioneered a modern dual strategy for public companies — they have a business strategy and a treasury strategy. The organization continues to sell business intelligence software in an attempt to increase revenue and profitability. At the same time, MicroStrategy is engaged in a treasury management strategy rooted in the acquisition of as much bitcoin as possible.
This dual strategy has created a unique offering for investors. They gain exposure to billions of dollars of bitcoin that sits on the company’s balance sheet, while still receiving the benefit of a cash-flowing software business.
MicroStrategy has spent about $3.8 billion on the treasury strategy and currently owns just over 125,000 bitcoin. Their cost basis is slightly above $30,000 per bitcoin. The current value of the bitcoin on their balance sheet is around $6 billion.
So eventually the question becomes “what is MicroStrategy going to do with all that bitcoin?”
We got a partial answer yesterday. Michael Saylor announced that his company had successfully secured a $205 million loan from Silvergate that used some of the bitcoin on MicroStrategy’s balance sheet as collateral.
Michael Saylor⚡️ @saylor
MacroStrategy, a subsidiary of @MicroStrategy, has closed a $205 million bitcoin-collateralized loan with Silvergate Bank to purchase #bitcoin. $MSTR $SI
MacroStrategy, a Subsidiary of MicroStrategy, Closes $205 Million Bitcoin-Collateralized Loan with Silvergate Bank to Purchase BitcoinMarch 29, 2022microstrategy.com
March 29th 2022
2,807 Retweets15,615 Likes
We can see in the information shared with the SEC that MicroStrategy posted $820 million of bitcoin collateral (25% LTV) and is paying a floating rate plus 3.70%. It is unclear whether MicroStrategy will continue to use their remaining bitcoin as further collateral for future loans.
It is interesting to see MicroStrategy take the loan, because they are effectively using the money to simply buy more bitcoin. In the words of Saylor, “using the capital from the loan, we’ve effectively turned our bitcoin into productive collateral, which allows us to further execute against our business strategy.” The idea of turning stagnant bitcoin sitting on the balance sheet into productive collateral is something that we haven’t seen many public companies do before.
This brings me to another takeaway from the announcement yesterday. Silvergate has been offering this leverage product for awhile and MicroStrategy is not the first to use it. At the end of 2021, the bank reported more than $500 million of loan commitments using bitcoin as collateral.
But this loan to MicroStrategy has a unique twist to it. As Dylan LeClair pointed out, it is the first time a FDIC insured bank has lent against a public company’s bitcoin collateral.
Dylan LeClair 🟠 @DylanLeClair_
A Federal Reserve member bank just lent Michael Saylor $200 million collateralized with #bitcoin for the purpose of buying additional #bitcoin with the proceeds.
March 29th 2022
409 Retweets4,129 Likes
Over the last few weeks, we have seen Terra start to use bitcoin as collateral for their UST stablecoin. MicroStrategy has started to use their bitcoin as collateral for loans. These anecdotal events are part of a larger trend — the world is realizing that bitcoin is the pristine collateral of the 21st century.
The digital, decentralized nature of bitcoin allows it to serve both the owner and recipient of the collateral. The long term trend of capital appreciation allows for the arbitraging of depreciating fiat currency, while the high divisibility into a liquid market at a moment’s notice provides the recipient downside risk protection that is hard to achieve.
It will be interesting to watch how this plays out. Bitcoin as collateral is not an accepted idea by Wall Street banks or legacy financial institutions. That is definitely going to change once the organizations realize they can make money in a risk-mitigated manner. Ultimately, economic incentives drive the world and people eventually realize that bitcoin is good for business.
Michael Saylor and MicroStrategy have pioneered a modern dual strategy for public companies — they have a business strategy and a treasury strategy. The organization continues to sell business intelligence software in an attempt to increase revenue and profitability. At the same time, MicroStrategy is engaged in a treasury management strategy rooted in the acquisition of as much bitcoin as possible.
This dual strategy has created a unique offering for investors. They gain exposure to billions of dollars of bitcoin that sits on the company’s balance sheet, while still receiving the benefit of a cash-flowing software business.
MicroStrategy has spent about $3.8 billion on the treasury strategy and currently owns just over 125,000 bitcoin. Their cost basis is slightly above $30,000 per bitcoin. The current value of the bitcoin on their balance sheet is around $6 billion.
So eventually the question becomes “what is MicroStrategy going to do with all that bitcoin?”
We got a partial answer yesterday. Michael Saylor announced that his company had successfully secured a $205 million loan from Silvergate that used some of the bitcoin on MicroStrategy’s balance sheet as collateral.
Michael Saylor⚡️ @saylorMacroStrategy, a subsidiary of @MicroStrategy, has closed a $205 million bitcoin-collateralized loan with Silvergate Bank to purchase #bitcoin. $MSTR $SI
MacroStrategy, a Subsidiary of MicroStrategy, Closes $205 Million Bitcoin-Collateralized Loan with Silvergate Bank to Purchase BitcoinMarch 29, 2022microstrategy.comMarch 29th 2022
2,807 Retweets15,615 Likes
We can see in the information shared with the SEC that MicroStrategy posted $820 million of bitcoin collateral (25% LTV) and is paying a floating rate plus 3.70%. It is unclear whether MicroStrategy will continue to use their remaining bitcoin as further collateral for future loans.
It is interesting to see MicroStrategy take the loan, because they are effectively using the money to simply buy more bitcoin. In the words of Saylor, “using the capital from the loan, we’ve effectively turned our bitcoin into productive collateral, which allows us to further execute against our business strategy.” The idea of turning stagnant bitcoin sitting on the balance sheet into productive collateral is something that we haven’t seen many public companies do before.
This brings me to another takeaway from the announcement yesterday. Silvergate has been offering this leverage product for awhile and MicroStrategy is not the first to use it. At the end of 2021, the bank reported more than $500 million of loan commitments using bitcoin as collateral.
But this loan to MicroStrategy has a unique twist to it. As Dylan LeClair pointed out, it is the first time a FDIC insured bank has lent against a public company’s bitcoin collateral.
Dylan LeClair 🟠 @DylanLeClair_A Federal Reserve member bank just lent Michael Saylor $200 million collateralized with #bitcoin for the purpose of buying additional #bitcoin with the proceeds.
March 29th 2022
409 Retweets4,129 Likes
Over the last few weeks, we have seen Terra start to use bitcoin as collateral for their UST stablecoin. MicroStrategy has started to use their bitcoin as collateral for loans. These anecdotal events are part of a larger trend — the world is realizing that bitcoin is the pristine collateral of the 21st century.
The digital, decentralized nature of bitcoin allows it to serve both the owner and recipient of the collateral. The long term trend of capital appreciation allows for the arbitraging of depreciating fiat currency, while the high divisibility into a liquid market at a moment’s notice provides the recipient downside risk protection that is hard to achieve.
It will be interesting to watch how this plays out. Bitcoin as collateral is not an accepted idea by Wall Street banks or legacy financial institutions. That is definitely going to change once the organizations realize they can make money in a risk-mitigated manner. Ultimately, economic incentives drive the world and people eventually realize that bitcoin is good for business.
I saw 2 different SHDW tokens on Coinbase, neither of which are tradable on that platform. One was down 34% today to .033 and the other was around .80 with no market cap noted. Where did you get this token?
This one...
From Coinbase you'd need to do a little work but its not too hard:
- Buy $SOL on Coinbase
- Open a phantom wallet to hold your $SOL. https://phantom.app/
- Send your $SOL from Coinbase to your Phantom wallet.
- From there you can swap your $SOL for $SHDW on the Solana exchange of your choice (Orca, Radyium, Tulip are the biggest)
- I use Orca. https://www.orca.so/pools. Connect your Phamtom wallet there, swap $SOL for $SHDW and you're all set. You can also lend your $SHDW back to any of these exchanges which I do. Current APY is around 30%.
Now you got me hooked. Throw some hints, a particular coin? An ETF? Crypto in general?
Lol. There was a very big hint in there :) 🍎
Apple is gonna buy bitcoin, like Microstrategy and Tesla??
Integrating Bitcoin into ApplePay has been hyped for a while now. That would be a nice announcement.
Sorry. I actually didnt mean to post that without adding more context.
Jack Mallers of Strike is probably going to announce Apple Pay integrating into the BTC lightning network via Strike. Not confirmed, but the hints have been growing. On a podcast w Peter McCormick a few mos ago, he alluded to a major announcement in Q2. Apple was hiring last summer for Alternative Payments Director. And lastly, Mallers has been posting multiple (no so subtle) tweets in the last week. He's set to deliver one of the keynotes at the BTC Conference in Miami next week.
Honestly, it's better than them adding the asset. Apple essentially would be onboarding 3/4 of mobile phone users to btc without them having to do anything different.
Anyone here going to the SALT conference in the Bahamas at the end of the month? I will be there and cant wait to hear all of the exciting projects in this world
I was hoping to get to Miami for the Bitcoin conf next week, but couldnt swing it with my schedule. The speaker lineup is pretty impressive.
Sidebar, really curious to what OBJ & Aaron Rodgers have to say there.
Guy who works for me is headed that that Bitcoin conference next week. I couldn't swing it with my schedule either but the two of us are headed to the SALT conference in the Bahamas.
I think next week will be interesting and def has a great lineup
Solana NFT's officially on OpenSea. Here's my favorite collection for those of you looking to commemorate the day 😂
Millennials have solved the retirement crisis
More millennials own cryptocurrencies than own stocks, a new study says.
www.marketwatch.com
Wow. It looks like millennials have totally solved the retirement crisis. And it turns out it was a lot easier than anyone realized.
The solution? Cryptocurrencies, of course.
A new survey of 4,000 people by Investopedia found that more millennials own cryptocurrencies than own stocks. (Some 38% own crypto, just ahead of the 37% who own stocks.) And 28% of millennials say they are planning to rely on their cryptocurrencies to support them in retirement.
The growth in crypto in the next 20 years will be wild as the younger generation grows up. Kids are getting rich in 2 ways these days - crypto and social media.
Millennials have solved the retirement crisis
More millennials own cryptocurrencies than own stocks, a new study says.
Wow. It looks like millennials have totally solved the retirement crisis. And it turns out it was a lot easier than anyone realized.
The solution? Cryptocurrencies, of course.
A new survey of 4,000 people by Investopedia found that more millennials own cryptocurrencies than own stocks. (Some 38% own crypto, just ahead of the 37% who own stocks.) And 28% of millennials say they are planning to rely on their cryptocurrencies to support them in retirement.
For anyone interested in watching the Bitcoin Conference live
Some times of interest:
9:30 - OBJ/ Aaron Rodgers/ Serena Williams
11am - Michael Saylor / Cathie Wood
1:30 - Peter Thiel
3:00 - Panel w Dave Portnoy
4:35 - Jack Mallers
I only watched a little yesterday, but Kevin Oleary of Shark Tank gave a good talk on regulations and institutional buying.
Some times of interest:
9:30 - OBJ/ Aaron Rodgers/ Serena Williams
11am - Michael Saylor / Cathie Wood
1:30 - Peter Thiel
3:00 - Panel w Dave Portnoy
4:35 - Jack Mallers
I only watched a little yesterday, but Kevin Oleary of Shark Tank gave a good talk on regulations and institutional buying.
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Portnoy on a crypto panel, lol. Guy is completely clueless on this topic, but I’ll take the marketing.
My thoughts exactly. He's essentially Howard Stern of this generation though. So if he wants to speak, you let him
Robinhood stepping up their game. Enabling withdrawing of BTC effective today for those who were on their waitlist. Also, enabling the BTC lightning network soon. Both huge news for BTC & and robinhood.
I am warming up to Robinhood. I like the no fees trading especially options. They also have an auto invest for bitcoin and ethereum. The research aspect is bare bones, but I have my own research software
At their talk, they said they have more people auto-investing in btc than they do in SPY, AAPLE or any other stock
It all depends on comfort. Me personally, I wouldnt not wrap and stake on a defi exchange or another site.
Ive been staking on Gemini for over a year now, because I trust the ir security and insurance more than other exchanges. The rate is continuing downard and is now 1%. I've begun looking at some other options but dont have a true answer yet. I'd be moving a healthy amount of money and want to make sure its the right move. I know people who have been burned chasing apr/y's. If I find a solution I'm comfortable with I'll post it here.
Also, Jack Mallers announcement did not involve Apple Pay. He's integrated Strike (via lightning network) into all Shopify sites, retail POS system NCR and payment tech Blackhawk, allowing for payment via lightning network. Youll be able to use lighning network to make purchases at places like walmart, wholefoods, chipotle, Mcdonalds, Walgreens, etc.
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