Post
Topic
Board Economics
Merits 2 from 1 user
Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
by
JayJuanGee
on 13/08/2020, 13:49:38 UTC
⭐ Merited by fillippone (2)
Shareholders (and let's be honest, hype buyers) may be happy now. We'll see how happy they are if BTC takes a dump! Tongue

If this was a brazen way to boost themselves by jumping on another hype train they may live to regret that. Ideally it's a clear-eyed financial decision but there's no way of controlling how it's going to be perceived by others. 

Yes.. Many of us are speculating that the four year fractal is lining up, and we can also see the UPpity pattern on the stock to flow model, but surely, there are no guarantees that continuing BIG players sucking up BTC supply is going to cause BTC prices to go up - so lot's of folks would be disappointed to go into a 6 to 18 month correction from here - while at the same time, many of us know that there is a certain level of physicality limitations to bitcoin, and ongoingly pushing BTC prices down or trying to keep them flat is going to cause even more UPwards price pressures - and maybe even GREATER incentives to screw the fuck out of any  BTC down manipulators who are not holding actually in fact holding real bitcoin, but instead manipulating down with dollars while proclaiming to hold actual bitcoin.

I am looking forward (I suppose a kind of hope) for those fractional reserve players to get fucked over when the BTC price goes shooting up, but they are not actually holding the underlying asset that they claim to be holding.  We know that they are good at such making shit up shenanigans within the traditional space, and maybe the million dollar question continues to be whether they can be successful to make shit up in the bitcoin space, especially if some players might be ready, willing and able to demand their keys (or to demand an actual and credible audit of the purported BTC holdings... not so difficult to accomplish in bitcoin - even though many BIG players in the traditional space are not used to showing their real books).