Crypto Currency Thread
Discussion
bigandclever said:
Having worked with the maniac for many years, back in the early days of MSTR, I nearly didn’t 
Lol, sounds like there are some interesting stories there. He does seem to be pretty clued in - his crypto investment (albeit much riskier) is in some ways similar to his purchasing of domain names in the early days of the internet (which worked out very well for him as you probably know). p_k_n said:
bigandclever said:
Having worked with the maniac for many years, back in the early days of MSTR, I nearly didn’t
Lol, sounds like there are some interesting stories there. He does seem to be pretty clued in - his crypto investment (albeit much riskier) is in some ways similar to his purchasing of domain names in the early days of the internet (which worked out very well for him as you probably know). The thing is, he makes very big decisions that sometimes he wins on, sometimes he doesn’t. Let’s not forget he ‘lost’ over 6 BILLION dollars in a day when he and the rest of the board got found out for fudging the revenue numbers. Many people, myself included eventually (after the 3rd round of redundancies), lost their jobs too and potentially many millions of dollars in unvested stock. I’m not bitter
The domain names for sale is interesting; we might all know about voice.com, but some of the others he’s still trying to flog like Frank, Michael, Emma, etc were all bought in the late nineties for little money. Though money isn’t an issue for him - both in a real sense (he’s got a nice big house and some yachts), and in a conceptual sense.
There are lots of other bits that are embedded (or at least were) in other big tech. We worked on a lot of data caching and indexing for Google, for example. There was a combined development effort with Facebook on a product called PRIME, which was in-memory data storage/massively parallel query engine that enabled Facebook to analyse all their data within a couple of seconds. Alarm.com was eventually embedded into Amazon Echo. And so on.
Saylor.org is a good thing, though.
Sorry for the thread diversion.
bigandclever said:
Yeah, there are stories
The thing is, he makes very big decisions that sometimes he wins on, sometimes he doesn’t. Let’s not forget he ‘lost’ over 6 BILLION dollars in a day when he and the rest of the board got found out for fudging the revenue numbers. Many people, myself included eventually (after the 3rd round of redundancies), lost their jobs too and potentially many millions of dollars in unvested stock. I’m not bitter
The domain names for sale is interesting; we might all know about voice.com, but some of the others he’s still trying to flog like Frank, Michael, Emma, etc were all bought in the late nineties for little money. Though money isn’t an issue for him - both in a real sense (he’s got a nice big house and some yachts), and in a conceptual sense.
There are lots of other bits that are embedded (or at least were) in other big tech. We worked on a lot of data caching and indexing for Google, for example. There was a combined development effort with Facebook on a product called PRIME, which was in-memory data storage/massively parallel query engine that enabled Facebook to analyse all their data within a couple of seconds. Alarm.com was eventually embedded into Amazon Echo. And so on.
Saylor.org is a good thing, though.
Sorry for the thread diversion.
Good diversion. Very interesting.The thing is, he makes very big decisions that sometimes he wins on, sometimes he doesn’t. Let’s not forget he ‘lost’ over 6 BILLION dollars in a day when he and the rest of the board got found out for fudging the revenue numbers. Many people, myself included eventually (after the 3rd round of redundancies), lost their jobs too and potentially many millions of dollars in unvested stock. I’m not bitter
The domain names for sale is interesting; we might all know about voice.com, but some of the others he’s still trying to flog like Frank, Michael, Emma, etc were all bought in the late nineties for little money. Though money isn’t an issue for him - both in a real sense (he’s got a nice big house and some yachts), and in a conceptual sense.
There are lots of other bits that are embedded (or at least were) in other big tech. We worked on a lot of data caching and indexing for Google, for example. There was a combined development effort with Facebook on a product called PRIME, which was in-memory data storage/massively parallel query engine that enabled Facebook to analyse all their data within a couple of seconds. Alarm.com was eventually embedded into Amazon Echo. And so on.
Saylor.org is a good thing, though.
Sorry for the thread diversion.
dimots said:
bigandclever said:
Yeah, there are stories
The thing is, he makes very big decisions that sometimes he wins on, sometimes he doesn’t. Let’s not forget he ‘lost’ over 6 BILLION dollars in a day when he and the rest of the board got found out for fudging the revenue numbers. Many people, myself included eventually (after the 3rd round of redundancies), lost their jobs too and potentially many millions of dollars in unvested stock. I’m not bitter
The domain names for sale is interesting; we might all know about voice.com, but some of the others he’s still trying to flog like Frank, Michael, Emma, etc were all bought in the late nineties for little money. Though money isn’t an issue for him - both in a real sense (he’s got a nice big house and some yachts), and in a conceptual sense.
There are lots of other bits that are embedded (or at least were) in other big tech. We worked on a lot of data caching and indexing for Google, for example. There was a combined development effort with Facebook on a product called PRIME, which was in-memory data storage/massively parallel query engine that enabled Facebook to analyse all their data within a couple of seconds. Alarm.com was eventually embedded into Amazon Echo. And so on.
Saylor.org is a good thing, though.
Sorry for the thread diversion.
Good diversion. Very interesting.The thing is, he makes very big decisions that sometimes he wins on, sometimes he doesn’t. Let’s not forget he ‘lost’ over 6 BILLION dollars in a day when he and the rest of the board got found out for fudging the revenue numbers. Many people, myself included eventually (after the 3rd round of redundancies), lost their jobs too and potentially many millions of dollars in unvested stock. I’m not bitter
The domain names for sale is interesting; we might all know about voice.com, but some of the others he’s still trying to flog like Frank, Michael, Emma, etc were all bought in the late nineties for little money. Though money isn’t an issue for him - both in a real sense (he’s got a nice big house and some yachts), and in a conceptual sense.
There are lots of other bits that are embedded (or at least were) in other big tech. We worked on a lot of data caching and indexing for Google, for example. There was a combined development effort with Facebook on a product called PRIME, which was in-memory data storage/massively parallel query engine that enabled Facebook to analyse all their data within a couple of seconds. Alarm.com was eventually embedded into Amazon Echo. And so on.
Saylor.org is a good thing, though.
Sorry for the thread diversion.
Well, I might write a bit more then
Saylor wants to be Alexander the Great. At a push he’d probably accept being Henry Ford. Ultimately he wants to be talked about in a thousand years, which sort of makes him a megalomaniac but there we go. Going back to the mid-nineties we were working to a couple of core ideas: “query tone”; and “information like water”. Both ended up being marketing strap lines, but the tenet behind them was ‘big’. Every time you pick up a telephone, you get a dial tone. With the right combination of numbers you can connect with any other phone on the planet, and every other phone can connect with you. The principle of ‘query tone’ was if you have a connected computer you can ask any question of any database in the world and get an answer. So far so blah, but this was before google, for example, formally existed so it was unusual that a company was building ‘stuff’ to facilitate it. “Information like water” came a little later, maybe 1998, and the premise was that information (ie data with understanding and context and so on) was going to be as important to human survival as water. Bit grand, perhaps, but the very oblique point is that MicroStrategy the software company was just a vehicle for the idea, in much the same way as it is for the Bitcoin decision.
In terms of that, I believe he is genuine and is in it for the long-term (longer than his lifetime). He’ll never sell MSTR, they’ll be taking him out in a box. I reckon I could name a hundred people who would happily speed that process along He still owes me a telly from when he was lead item on the 6 o’clock news ... “Mr Saylor, how does it feel to have lost the most amount of money in one day than anyone else in history?” .. “It comes, it goes”. I threw my mug of coffee at him, I’d just ‘lost’ millions
As a happy coincidence, he’ll be loving all the attention he’s getting from people wanting to know all about him. It used to be a running joke about how long he’d stand at a lectern and pontificate. Several hours wasn’t unheard of.
Saylor wants to be Alexander the Great. At a push he’d probably accept being Henry Ford. Ultimately he wants to be talked about in a thousand years, which sort of makes him a megalomaniac but there we go. Going back to the mid-nineties we were working to a couple of core ideas: “query tone”; and “information like water”. Both ended up being marketing strap lines, but the tenet behind them was ‘big’. Every time you pick up a telephone, you get a dial tone. With the right combination of numbers you can connect with any other phone on the planet, and every other phone can connect with you. The principle of ‘query tone’ was if you have a connected computer you can ask any question of any database in the world and get an answer. So far so blah, but this was before google, for example, formally existed so it was unusual that a company was building ‘stuff’ to facilitate it. “Information like water” came a little later, maybe 1998, and the premise was that information (ie data with understanding and context and so on) was going to be as important to human survival as water. Bit grand, perhaps, but the very oblique point is that MicroStrategy the software company was just a vehicle for the idea, in much the same way as it is for the Bitcoin decision.
In terms of that, I believe he is genuine and is in it for the long-term (longer than his lifetime). He’ll never sell MSTR, they’ll be taking him out in a box. I reckon I could name a hundred people who would happily speed that process along
He still owes me a telly from when he was lead item on the 6 o’clock news ... “Mr Saylor, how does it feel to have lost the most amount of money in one day than anyone else in history?” .. “It comes, it goes”. I threw my mug of coffee at him, I’d just ‘lost’ millions As a happy coincidence, he’ll be loving all the attention he’s getting from people wanting to know all about him. It used to be a running joke about how long he’d stand at a lectern and pontificate. Several hours wasn’t unheard of.
bigandclever said:
Well, I might write a bit more then
Saylor wants to be Alexander the Great. At a push he’d probably accept being Henry Ford. Ultimately he wants to be talked about in a thousand years, which sort of makes him a megalomaniac but there we go. Going back to the mid-nineties we were working to a couple of core ideas: “query tone”; and “information like water”. Both ended up being marketing strap lines, but the tenet behind them was ‘big’. Every time you pick up a telephone, you get a dial tone. With the right combination of numbers you can connect with any other phone on the planet, and every other phone can connect with you. The principle of ‘query tone’ was if you have a connected computer you can ask any question of any database in the world and get an answer. So far so blah, but this was before google, for example, formally existed so it was unusual that a company was building ‘stuff’ to facilitate it. “Information like water” came a little later, maybe 1998, and the premise was that information (ie data with understanding and context and so on) was going to be as important to human survival as water. Bit grand, perhaps, but the very oblique point is that MicroStrategy the software company was just a vehicle for the idea, in much the same way as it is for the Bitcoin decision.
In terms of that, I believe he is genuine and is in it for the long-term (longer than his lifetime). He’ll never sell MSTR, they’ll be taking him out in a box. I reckon I could name a hundred people who would happily speed that process along He still owes me a telly from when he was lead item on the 6 o’clock news ... “Mr Saylor, how does it feel to have lost the most amount of money in one day than anyone else in history?” .. “It comes, it goes”. I threw my mug of coffee at him, I’d just ‘lost’ millions
As a happy coincidence, he’ll be loving all the attention he’s getting from people wanting to know all about him. It used to be a running joke about how long he’d stand at a lectern and pontificate. Several hours wasn’t unheard of.
Brilliant :-) It sounds like you had a big role in the company. I can understand your frustration with what he did to MSTR back then, especially as he eventually came back up smelling of roses. Saylor wants to be Alexander the Great. At a push he’d probably accept being Henry Ford. Ultimately he wants to be talked about in a thousand years, which sort of makes him a megalomaniac but there we go. Going back to the mid-nineties we were working to a couple of core ideas: “query tone”; and “information like water”. Both ended up being marketing strap lines, but the tenet behind them was ‘big’. Every time you pick up a telephone, you get a dial tone. With the right combination of numbers you can connect with any other phone on the planet, and every other phone can connect with you. The principle of ‘query tone’ was if you have a connected computer you can ask any question of any database in the world and get an answer. So far so blah, but this was before google, for example, formally existed so it was unusual that a company was building ‘stuff’ to facilitate it. “Information like water” came a little later, maybe 1998, and the premise was that information (ie data with understanding and context and so on) was going to be as important to human survival as water. Bit grand, perhaps, but the very oblique point is that MicroStrategy the software company was just a vehicle for the idea, in much the same way as it is for the Bitcoin decision.
In terms of that, I believe he is genuine and is in it for the long-term (longer than his lifetime). He’ll never sell MSTR, they’ll be taking him out in a box. I reckon I could name a hundred people who would happily speed that process along
He still owes me a telly from when he was lead item on the 6 o’clock news ... “Mr Saylor, how does it feel to have lost the most amount of money in one day than anyone else in history?” .. “It comes, it goes”. I threw my mug of coffee at him, I’d just ‘lost’ millions As a happy coincidence, he’ll be loving all the attention he’s getting from people wanting to know all about him. It used to be a running joke about how long he’d stand at a lectern and pontificate. Several hours wasn’t unheard of.
Back on 11 Oct, I wrote that
Microstrategy 38,250 BTC @ $11,111.11
Square 4,709 BTC @ $10,617.97
Current price $11,344.11 = $8.9m and $3.4m in front in $ terms respectively
This will likely be very volatile. With holdings that large, BTC price volatility could result in the impact in $ terms being in the millions or tens of millions of $ per day!
I was right about the volatility. Here I am just 10 days later with the BTC price at $12,246 putting Microstrategy $43.4m & Square $7.7m in front in $ terms respectively.
I will leave it at that, anyone interested in the rise & wane of the fortunes of companies moving part of their Treasury into BTC knows where to look
Microstrategy 38,250 BTC @ $11,111.11
Square 4,709 BTC @ $10,617.97
Current price $11,344.11 = $8.9m and $3.4m in front in $ terms respectively
This will likely be very volatile. With holdings that large, BTC price volatility could result in the impact in $ terms being in the millions or tens of millions of $ per day!
I was right about the volatility. Here I am just 10 days later with the BTC price at $12,246 putting Microstrategy $43.4m & Square $7.7m in front in $ terms respectively.
I will leave it at that, anyone interested in the rise & wane of the fortunes of companies moving part of their Treasury into BTC knows where to look
So a few weeks ago you said Bitcoin is likely to go up (which it has been doing historically anyway) and then once it did you came to post about how right your amazing prediction was as the price has appreciated a mere 9% or so?
We all know that -10%+ drop in a day on Bitcoin is inevitable at some point in the next month or two.
We all know that -10%+ drop in a day on Bitcoin is inevitable at some point in the next month or two.
g4ry13 said:
So a few weeks ago you said Bitcoin is likely to go up (which it has been doing historically anyway) and then once it did you came to post about how right your amazing prediction was as the price has appreciated a mere 9% or so?
We all know that -10%+ drop in a day on Bitcoin is inevitable at some point in the next month or two.
I've never said BTC is going to go up, only that it will be volatileWe all know that -10%+ drop in a day on Bitcoin is inevitable at some point in the next month or two.
The two posts, 10 days apart, showing the change in $ equivalence of the BTC holdings of Microstrategy & Square are merely illustrations of that volatility and how it plays out against holdings of that size.
g4ry13 said:
So a few weeks ago you said Bitcoin is likely to go up (which it has been doing historically anyway) and then once it did you came to post about how right your amazing prediction was as the price has appreciated a mere 9% or so?
We all know that -10%+ drop in a day on Bitcoin is inevitable at some point in the next month or two.
I think it’s useful to put the line in the sand for others to refer to in the future. I don’t see this as cherry picking prices to fit a narrative.We all know that -10%+ drop in a day on Bitcoin is inevitable at some point in the next month or two.
JPJPJP said:
g4ry13 said:
So a few weeks ago you said Bitcoin is likely to go up (which it has been doing historically anyway) and then once it did you came to post about how right your amazing prediction was as the price has appreciated a mere 9% or so?
We all know that -10%+ drop in a day on Bitcoin is inevitable at some point in the next month or two.
I've never said BTC is going to go up, only that it will be volatileWe all know that -10%+ drop in a day on Bitcoin is inevitable at some point in the next month or two.
The two posts, 10 days apart, showing the change in $ equivalence of the BTC holdings of Microstrategy & Square are merely illustrations of that volatility and how it plays out against holdings of that size.
dimots said:
Compare btc/yuan to btc/usd and so on for a far more interesting story.
I think it's going to get way more interesting in the next 2 - 3 years. Once a sustainable 20k is reached (inevitable IMO) it will ultimately go parabolic in price discovery mode against FIAT with the usual swings along the way. Anyway, here is (I think the first) UK listed PLC Mode Global Holdings announcing that it has allocated up to 10% of its cash reserves to purchase BTC and adopt it as a treasury reserve asset
https://www.londonstockexchange.com/news-article/M...
In its interims (to end June 20) it had £625k cash & equivalents and had subsequently received £7.5m from floating
https://www.londonstockexchange.com/news-article/M...
In its interims (to end June 20) it had £625k cash & equivalents and had subsequently received £7.5m from floating
ADEuk said:
PayPal entering the crypto space...
https://financialpost.com/pmn/business-pmn/paypal-...
Was just reading the announcement on the PayPal investor relations pagehttps://financialpost.com/pmn/business-pmn/paypal-...
https://investor.pypl.com/news-and-events/news-det...
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