Qual Esteves

[Nicolas Hulscher, MPH @NicHulscher]

Bill Gates spent $7.6 MILLION creating genetically modified ticks designed to SPREAD in the wild.

Two years later, a peer-reviewed paper was published saying that it is “morally obligatory” to use CRISPR-edited GMO ticks to intentionally spread alpha-gal syndrome and FORCE humans away from eating meat.

Now an estimated 450,000 Americans have alpha-gal syndrome, and a new CDC study found alpha-gal antibodies in 24.0% of adults across the five hardest-hit U.S. states.

The FBI must investigate all possible bioterrorism-related activities behind this massive surge in tick-induced meat allergies.

[Qual Esteves @somethingelse1s]

@100trillionUSD But does it include derivatives?

[Qual Esteves @somethingelse1s]

@ThomasPhilipw @based16z No one is buying bitcoin but we can sure up the dollar to bitcoin. There is still accountability in the future and a way out for future generations. Bitcoin is a protocol not a cult.

[Qual Esteves @somethingelse1s]

@TubeSpirit @DrJackKruse

[Qual Esteves @somethingelse1s]

@bryan_johnson God

[Kevin Malone @Malone_Wealth]

The Boise, Idaho area was hit with one of the worst summer storms ever recorded yesterday evening. Some areas had more than 8 inches of hail in less than an hour.

[Qual Esteves @somethingelse1s]

@DrJackKruse Thank you

[Qual Esteves @somethingelse1s]

@sue_xbt 100M

[Qual Esteves @somethingelse1s]

@blockchainchick Sustainable debt increases

[Qual Esteves @somethingelse1s]

@PlanBpassport El Salvador

[Qual Esteves @somethingelse1s]

@Cryptotea You had friends?

[Mocha @monster_models]

I just spoke to my dad for the first time since he was paid his first $STRC dividend four weeks ago.

He didn't understand why the price had fallen so far from par.

I was honest with him — neither did I.

I told him the latest theories about accounts in TradFi getting wiped out on leverage, but margin debt is so abstract to a farmer who barely ever touches his investments that I'm not sure this made much sense to him.

After talking through the situation, I came to realize that, yes, my dad was concerned — some would say worried — but not for the reasons most people would think.

"Just remember, Dad — you're still going to be paid the same dividend, regardless of the market price."

"Okay, but... how?"

That was the moment I realized my dad had fallen into an unfortunate misconception I've noticed even among some in the #Bitcoin community — something that I'll call the dividend yield fallacy.

We all grow up learning about compound interest, which is universally expressed as a percentage. If you go to the bank and open an interest-bearing account, they will express the interest rate as a percent of your deposits. Your mortgage interest is expressed as a percentage of your current balance. Similar story for your credit card accounts.

So it should be no surprise that when regular folks learn about investment products like STRC that are marketed as paying 11.5% annually, they think about it through the same lens.

But there's a blank space in their mental model: 11.5% of what?

In the absence of clarity, the mind naturally assumes that the denominator is the current value of the instrument: the market price.

This leads some folks to think that the dollar amount of their monthly dividend falls as the market price falls.

Life does not prepare most regular people to think in terms of fixed income — what some in the finance community affectionately call "bond math."

Many fixed income instruments, including many bonds, pay a fixed dollar amount. Not a fixed percentage — a fixed dollar amount. That fixed dollar amount is often expressed as a percentage of the instrument's value at par, but that dollar amount does not change merely because the market price falls below (or rises above) par.

This is what gives rise to a so-called effective yield — the dividend yield recomputed using the current market price in the denominator instead of par value.

This concept was foreign to my dad.

"So you're telling me that the price could fall to $2, and I would still get paid the same dividend per share that I own?"

"Yes."

"And so when my dividends get reinvested, they're buying new shares at a discount, not at 'full retail' price?"

"Yes."

I thought I had conveyed this clearly in one of our previous calls — and maybe I had! — but I'm now realizing that this concept is different enough from most people's lived experiences that we need multiple exposures before it can be expected to stick.

Once my dad learned — or re-learned — how the bond math works for STRC, he was not only relieved, but speechless.

"I'm in awe, son. We didn't grow up with anything like this. Hell, I didn't even start investing until MegaCorp," he said, referring to the corporation he worked at for 24 years. "I've never seen anything else in my life like this!"

He continued: "I don't understand why everyone isn't investing in STRC. Why wouldn't anyone who owned a home, who was getting ready to retire, be in this thing?"

"I hear you, Dad. I'm guessing it's because they don't understand how it works, and people are generally fearful of anything they don't understand — at least at first," I said.

I sincerely appreciate how my dad is trying his best to understand this wildly new product that is helping him meet his financial goals.

That said, I think the crux of his misunderstanding — and the source of his initial concern — can serve as a thought-provoking case study for @Strategy as they fine tune how best to communicate with the public about STRC.

To be clear, I understand why Strategy markets STRC's dividend as a percentage yield. Percentage yield is an industry standard concept. It also frames the instrument's income return conservatively in investors' minds; if the price falls, the effective yield on new shares only goes up.

But there is a cost to this in the form of potential misunderstanding. By communicating the dividend yield ONLY in terms of a percentage, some investors will be left to assume that the dollar amount goes down as the market price goes down.

The fixed dividend relative to market price is one of STRC's greatest strengths. It's why my dad is not only not worried, but completely at ease in this sea of bear market panic.

My hope is that we will find ways of better communicating this key concept when we talk to our friends and family (and each other) about digital credit.

🟠

$MSTR $STRC

[Nayib Bukele @nayibbukele]

Nuestro tercer avión ya llegó a Venezuela y el cuarto ya va en camino.

Seguimos reforzando esta misión.

Dios bendiga a Venezuela 🇸🇻🇻🇪

[Qual Esteves @somethingelse1s]

@PeterSchiff I will gladly pay more dollars forever for a scarce, verifiable asset that can’t be seized. Gold is only 1 of those

[☣️ Pleb Kruse = BTC foundationalist in exile 🟩🔆 @DrJackKruse]

IF this is not remedied I will never use another @Apple product ever.

[Qual Esteves @somethingelse1s]

Time to move to opensourced hardware and to opensourced software. I guess we just needed an enemy to build what’s needed for digital freedom

[Sparrow Wallet 🐦 @SparrowWallet]

Unless @Apple's decision to terminate @craigraw's Apple Developer account is reversed by June 30, all new installs of Sparrow will fail, and development on macOS will end. If you value Sparrow, a repost would help. @AppleSupport

[Qual Esteves @somethingelse1s]

@saylor Get some rest we need you operating at 100% ignore the trolls

[Crypto Tea @Cryptotea]

In 2011 there was a marketplace called Silk Road where people only transacted in bitcoin

Why does a bitcoin marketplace not exist now in 2026?

[Qual Esteves @somethingelse1s]

@mirthtime @callebtc @cypherpunkX

[Qual Esteves @somethingelse1s]

@AshCrypto Now measure in sats