Qka

I'm not here to be popular; I'm here to tell the truth. I believe in #Bitcoin & American values...they're pretty much the same.

[Qka @CapQka]

If you don't understand #repo #eurodollars, and the role US Treasuries play within this shadow banking system, then you don't understand #Bitcoin's potential.

Liquidity is paramount. Stability is key. Volatility is crippling.

That's why I don't just HODL $BTC, I swing trade it.

[Redd @ReddCinema]

Cardinal Zuppi read the names of every child who passed away in Gaza. It took him 7 hours.

[Thomas Massie @RepThomasMassie]

$500 per vote.

That’s what the Israeli lobby spent to beat me,

and they still couldn’t do it with factual ads, or even fake ads based on policy.

They ran with personal lies and AI videos to convince elderly voters I was sleeping with Ilhan Omar and AOC at the same time.

[Qka @CapQka]

@Rory_Johnston 😂🤣🤣🤣🤣🤣

[Qka @CapQka]

🤣

[Rory Johnston @Rory_Johnston]

this is a shocking and unprecedented development

[Graham Platner for Senate @grahamformaine]

Being called a thug and the worst person ever to run for office by Donald Trump might be the highest compliment I have ever received.

[Jonathan Cook @Jonathan_K_Cook]

Israeli lawyer Ben Marmarelli says Palestinian prisoners he represents beg him not to visit because they're raped each time he is due to meet them.

This is a scene from Al Jazeera's shocking new documentary on Israel's systematic use of rape.

[Qka @CapQka]

@EricBalchunas @BitcoinArchive You're not. He swum too deep. Now the sharks are circling. I'm just wondering if he senses it.

[Matthew R. Kratter #BIP-110 @mattkratter]

Is Michael Saylor Cooked?

[Qka @CapQka]

@whtdafunk @scottmelker It will always be that way if we don't purge the debt-financed buyers, because they inject volatility on the upside & the downside. And we, the true Bitcoiners, are mostly unwilling to take the other side of the trade (and incur short-term capital gains at our marginal tax rate).

[Qka @CapQka]

@jackmallers If I didn't know any better, I would say Jack agrees with me that Saylor's capital structure unnecessarily introduces a material risk into the #Bitcoin network...

[Qka @CapQka]

@LynAldenContact Could we just purge the individuals that inject material risk unnecessarily (ie, Saylor), and then we can all live happily ever after?

[Qka @CapQka]

@whtdafunk @scottmelker No. I've done the work. I'm also a CFO and cofounder. I put BTC on the balance sheet, and it's not suitable there.

Can't be used as working capital. Not a reserve asset. Literally useless.

Why? Because it's volatile, lending terms are expensive and LTVs low, and its illiquid.

[Qka @CapQka]

Anyone who believes in #Bitcoin as decentralized, permissionless, global, scarce, digital money should absolutely despise @saylor. This man will singlehandedly set us back a decade with his capital structure decisions. He's a charlatan and a fraud who does not understand markets.

[Qka @CapQka]

Might $MSTR puke out all of its #Bitcoin? As Strategys discount to NAV deepens, it will be cut off from financing entirely. Forget issuing debt/prefs. Issuing secondary equity ATM? No one buys it, stock tanks. Calls to sell $BTC to buyback shares grow. Stock delisted. Game over.

[Qka @CapQka]

The bear case for #Bitcoin is that we ignore the key problem with the technology (extreme price volatility and illiquidity for large trades) and champion individuals who exacerbate this key problem, which is its primary impediment to global adoption (Saylor and $MSTR).

[Qka @CapQka]

@scottmelker The bear case for #Bitcoin is that we ignore the main problem with the technology (price volatility and illiquidity) and champion individuals who actually exacerbate this main impediment to adoption (Saylor).

He's a price volatility agent, nothing more.

[Qka @CapQka]

@scottmelker No. Its because he bought too much $BTC with other people's borrowed energy. He owes it back. Never buy #Bitcoin with other people's borrowed energy. Equity is OK, cause you can ride BTC to 0. Debt is not OK; especially at size.

If you do, the market (rightfully) will hunt you.

[Qka @CapQka]

@EvanWritesOnX You're a downward pointing compass at this point.