What's the deal with bitcoin now?

[peterfranks]

https://finance.yahoo.com/news/michael-saylor-microstrategy-ceo-bitcoin-204325431.html

 

Michael Saylor steps down as MicroStrategy CEO, company takes $917 million charge on bitcoin

 

At the end of Q2, the carrying value of MicroStrategy’s digital assets (comprised of approximately 129,699 bitcoins) was $1.988 billion, which reflects cumulative impairment losses of $1.989 billion since acquisition and an average carrying amount per bitcoin of approximately $15,326, the company said in a statement.

[ThailandRyan]

18 hours ago, swerve said:

On Monday, Nomad cross-chain token bridge was drained of close to $200 million in multiple hacks.

And a Thai Lady had her bank account in Thailand Hacked and lost 4 million baht....point is it can happen everywhere....Another fine example is the Soldier who rented High End luxury cars, falsified paperwork and sold them cheating the company out of millions as well.  I really get tired when folks think it is only Crypto that can be hacked.

[ThailandRyan]

31 minutes ago, peterfranks said:

https://finance.yahoo.com/news/michael-saylor-microstrategy-ceo-bitcoin-204325431.html

 

Michael Saylor steps down as MicroStrategy CEO, company takes $917 million charge on bitcoin

 

At the end of Q2, the carrying value of MicroStrategy’s digital assets (comprised of approximately 129,699 bitcoins) was $1.988 billion, which reflects cumulative impairment losses of $1.989 billion since acquisition and an average carrying amount per bitcoin of approximately $15,326, the company said in a statement.

And as BTC rises again the losses will disappear like the stock losses people have had as the stocks move back higher....What's your point? besides being against Crypto and all.

[peterfranks]

1 minute ago, ThailandRyan said:

I really get tired when folks think it is only Crypto that can be hacked.

Nobody said that, though this thread's topic happens to be crypto, and not rental cars

[ThailandRyan]

Just now, peterfranks said:

Nobody said that, though this thread's topic happens to be crypto, and not rental cars

True, True True, but then all markets have potential to be hacked or fraudulently attacked.  Saylor is crying the blues, but when BTC jumps upwards again will change his tune....

[peterfranks]

3 minutes ago, ThailandRyan said:

What's your point? besides being against Crypto and all.

Do I need to have a point to post a link to a news article related to the topic at hand.

 

What is your point?

[peterfranks]

2 minutes ago, ThailandRyan said:

Saylor is crying the blues, but when BTC jumps upwards again will change his tune....

Saylor is gone, he has been fired. They put him in an 'inactive post', like the police in Thailand, to save some face and prevent a massive reaction from investors.

 

And let me correct this also for you.

 

but when IF BTC jumps upwards again will change his tune....

 

[ThailandRyan]

1 minute ago, peterfranks said:

Saylor is gone, he has been fired. They put him in an 'inactive post', like the police in Thailand, to save some face and prevent a massive reaction from investors.

 

And let me correct this also for you.

 

but when IF BTC jumps upwards again will change his tune....

 

Sorry he was not fired my friend

 

In a statement, MicroStrategy said Saylor will focus primarily on, "innovation and long-term corporate strategy, while continuing to provide oversight of the Company’s bitcoin acquisition strategy."

"As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations,” Saylor said in a statement.

[bolt]

I believe we have bottomed out on this current trend

 

how long will the bears sleep

[peterfranks]

1 minute ago, ThailandRyan said:

Sorry he was not fired my friend

 

In a statement, MicroStrategy said Saylor will focus primarily on, "innovation and long-term corporate strategy, while continuing to provide oversight of the Company’s bitcoin acquisition strategy."

"As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations,” Saylor said in a statement.

 

Saylor said.

 

I thought you were smarter and be able to read between the lines.

 

Yeah they put him in a function to let him control what cost the company almost 2 billion in loss.

 

 

[ThailandRyan]

18 minutes ago, peterfranks said:

 

Saylor said.

 

I thought you were smarter and be able to read between the lines.

 

Yeah they put him in a function to let him control what cost the company almost 2 billion in loss.

 

 

And as BTC rises back up so will Saylors stock....its just a waiting game.  If they truly thought he had hosed the company and investors, who have longer term aspirations, then they would have fired him.

[brobro2424]

On 7/31/2022 at 5:39 AM, Captain Monday said:

Technical analysis is nonsense.

Technical analysis is astrology for boys

[Gecko]

On 7/31/2022 at 6:38 PM, OneMoreFarang said:

Sure. It's also possible to win in the lottery. There is always a risk.

Of course there's always a risk. Whether you buy a stock like Amazon or crypto. Crypto is riskier, sure, so you have to do your DD. 

 

[peterfranks]

47 minutes ago, ThailandRyan said:

And as BTC rises back up so will Saylors stock....its just a waiting game.  If they truly thought he had hosed the company and investors, who have longer term aspirations, then they would have fired him.

You still don't get it do you, he was put in a position where can't do more harm than he has caused the company already.

Firing him right away would have been a bad sign for investors, and may have caused a further crash of the stock price, so they gave the child a different name.

 

He is now an advisor to the CEO.

 

https://www.huntclub.com/blog/executive-chairman-vs.-ceo-whats-the-difference

 

What is an executive chairman?

An executive chairman has many of the same responsibilities as a non-executive chairman, except he's a company's paid employee.

 

How long does an executive chairman stay on?

 An executive chairman usually stays on for six to twelve months. 

The end date usually is the end of the calendar year or the next annual shareholder's meeting when board members are elected.

The shelf life of an executive chairman isn’t set in stone. Still, anything longer than a year raises questions about why the overlap period must be so long. It also raises concerns about the confidence the board has in the newly appointed CEO.

[swerve]

This is what Saylor is about:  In March, when Bitcoin was changing hands at roughly $57,000, Saylor encouraged investors to liquidate their assets in order to buy Bitcoin on leverage in an interview. The MicroStrategy CEO went as far as urging people to mortgage their houses so that they could invest more.

[Sparktrader]

8 hours ago, brobro2424 said:

Technical analysis is astrology for boys

Tech analysis is the study of prices

 

Before you buy a car you study the prices

 

Before you buy a house you study the prices

 

Stocks are no different

 

Anyone who thinks this isnt worthwhile doesnt have a clue

[Lacessit]

11 hours ago, swerve said:

This is what Saylor is about:  In March, when Bitcoin was changing hands at roughly $57,000, Saylor encouraged investors to liquidate their assets in order to buy Bitcoin on leverage in an interview. The MicroStrategy CEO went as far as urging people to mortgage their houses so that they could invest more.

Look at it now. Celsius,Babel Finance, Vauld. Luna, TerraUSD. The list of failing and teetering companies in crypto is growing.

When someone is promising a risk-free investment return of 18% on an asset that is nothing but a stream of electrons, any sensible investor would be saying <deleted> off.

[Heng]

Yeah, Saylor is way too 'all in.'  But I do get how some people 'need' leverage in their lives (to the point of rationalising how it's a smart/logical move).  You see it at every level of business, those folks that have multiple overdraft lines of credit from multiple banks, yelling/sweating, zipping around @ 140kph on the freeway all day keeping everything in motion/juggling it all... 

 

Some land/buildings, some gold, some stocks, some crypto....  All cash and carry.  If even all but one goes the wrong way, your biggest problem isn't trying to meet some margin call, it's still whether to go to Chamonix or Niseko this winter.  

 

11 hours ago, swerve said:

This is what Saylor is about:  In March, when Bitcoin was changing hands at roughly $57,000, Saylor encouraged investors to liquidate their assets in order to buy Bitcoin on leverage in an interview. The MicroStrategy CEO went as far as urging people to mortgage their houses so that they could invest more.

 

[ThailandRyan]

1 hour ago, Lacessit said:

Look at it now. Celsius,Babel Finance, Vauld. Luna, TerraUSD. The list of failing and teetering companies in crypto is growing.

When someone is promising a risk-free investment return of 18% on an asset that is nothing but a stream of electrons, any sensible investor would be saying <deleted> off.

Almost like the 9% return the property developers here in Thailand say you can make on buying a place and using it as a rental.......

[tubby johnson]

18 hours ago, Sparktrader said:

Tech analysis is the study of prices

 

Before you buy a car you study the prices

 

Before you buy a house you study the prices

 

Stocks are no different

 

Anyone who thinks this isnt worthwhile doesnt have a clue

False equivalence. Before we go shopping, we don't pore over little graphs and divine the future. That's astrology.

 

Unsophisticated rubes think they can predict the future of stock prices, crypto fartcoins, magic NFTs, fairy dust penny stocks, etc. They delude themselves into thinking they have a headstart on their rivals with their secret technical charts alchemy. They crow about their wins and hope nobody notices their losses.

 

But do feel free to keep believing in your failure-proof financial astrology.

 

[Sparktrader]

3 minutes ago, tubby johnson said:

False equivalence. Before we go shopping, we don't pore over little graphs and divine the future. That's astrology.

 

Unsophisticated rubes think they can predict the future of stock prices, crypto fartcoins, magic NFTs, fairy dust penny stocks, etc. They delude themselves into thinking they have a headstart on their rivals with their secret technical charts alchemy. They crow about their wins and hope nobody notices their losses.

 

But do feel free to keep believing in your failure-proof financial astrology.

 

Rubbish. Tech analysis does not predict the future nor does fundamentals.

 

You dont even know the basics.

 

A graph represents the past not the future.

 

 

 

[ThailandRyan]

5 minutes ago, tubby johnson said:

False equivalence. Before we go shopping, we don't pore over little graphs and divine the future. That's astrology.

 

Unsophisticated rubes think they can predict the future of stock prices, crypto fartcoins, magic NFTs, fairy dust penny stocks, etc. They delude themselves into thinking they have a headstart on their rivals with their secret technical charts alchemy. They crow about their wins and hope nobody notices their losses.

 

But do feel free to keep believing in your failure-proof financial astrology.

 

You left out property prices for land and houses which ebb and flow as well

[Sparktrader]

5 minutes ago, tubby johnson said:

But do feel free to keep believing in your failure-proof financial astrology.

 

There is no failure proof method.

 

If house prices avg 8% rise a year but went up 25% in a year it means it might be overheated.

 

Same with shares. Just common sense.

 

There is no magic pill.

[Sparktrader]

1 minute ago, ThailandRyan said:

You left out property prices for land and houses which ebb and flow as well

U can graph them too

[peterfranks]

2 minutes ago, Sparktrader said:

A graph represents the past not the future.

So finally you agree that a graph has zero use, unless you want to know the past, which is no guarantee or indication for the future

[ThailandRyan]

1 minute ago, peterfranks said:

So finally you agree that a graph has zero use, unless you want to know the past, which is no guarantee or indication for the future

Follow the candles my friend, just like buying stocks as a day trader......

[Sparktrader]

Just now, peterfranks said:

So finally you agree that a graph has zero use, unless you want to know the past, which is no guarantee or indication for the future

The past is a clue to the future. Always has been.

 

If earnings rise 8% on avg and shares are up 35% then the graph will show steepness which may need correction.

 

Look at the dow vs 3 year average.

[Sparktrader]

[Sparktrader]

3 year ma

7 year ma

 

Why would u look at a graph

 

Great clues there

 

[Sparktrader]