Member Info for Billfunk1

Without an ATM transmission is always going to be a problem for SWC vs the American BTCs. Expect regular repeats of yesterday's offering - a very clunky and unreliable way to convert MC into bitcoin. Yet despite all that it's still better than most of the zombie companies on the UK market.

If you have not by now worked out that bitcoin treasury companies are miles better quality than miners then there is no hope for you.

You have got to assume they have big capital interest from the states here through Tyler. They wouldn't open one at such short notice with such a small window without having the capital already lined up. I wonder how much they are planning to raise here. It's very likely going straight into bitcoin tomorrow. Unless they have sold us all a dummy this is incredibly bullish.

It sounds like DS's problem might be unit bias. He sold bitcoin at $10k or $20k or $50k because it appeared to be so high then he spent the money on Monero or whatever because he could buy a lot at 50 cents each. Now he somehow thinks if he peddles falsehoods online enough people will copy his folly and push the price from 50 cents to $50k "just like bitcoin". Sad and wrong headed for the reasons I have already explained. Now he's just rotating through the anti-bitcoin narrative smorgasbord in a desperate attempt to convince himself he has a handle on any of this, which tragically he doesn't.

Ridiculous faux-maxi posturing I'm afraid. There was no way bitcoin could become "the money" without corporations and governments using it as pristine capital.

You bought bitcoin when it was much cheaper but then sadly sold it all and now you live in regret. Your posturing is fooling no one. Anyone with humility would have started DCAing back in now.

Yes. I have some in my ISA and LISA. You may have to call your broker up as the market is illiquid with a large spread.

Every coin has "the scarcity narrative" hanging over them. Without it their coins have no scarcity value and are useless as money. PoW is absolutely necessary. Global hashrate is over 850EH so tail emissions are not really necessary to encourage even more miners into the network. Maybe in a few decades.

You can't invent something twice. That's why there will not be a second bitcoin. The absolute digital scarcity of bitcoin is the ONLY absolute digital scarcity in the whole of "crypto". It can't be replicated now. You would just be adding more individually fenced off scarcities - ergo not scarce at all. This is why alt coins are doomed to become mere payment rail techs and not money. Most people struggle with this point.

So hold your own bitcoin then, genius.

Hi Thungelaberg,

I didn't know about etoro. If you can buy spot there then that's great if you want 1-to-1 bitcoin exposure. Just check their proof of reserves so that you know they are selling you actual bitcoin they hold on your behalf and not paper bitcoin. The risk is an FTX type situation where they claimed to hold billions of $ worth of bitcoin on behalf of their clients but in actual fact only held around $1m. This is why many Maxi bitcoiners hold their own bitcoin on their own wallet and do not trust 3rd parties.

Yes, early on in your bitcoin journey it can appear to be a game of greater fools and a big gamble. As a general rule the more you study it the more you realise that fiat is actually the greater risk. They say "Only keep money in fiat that you can afford to lose" which is a humorous inversion of what is currently the general opinion of bitcoin.

1. It's not just as easy to buy spot bitcoin. In the UK the FCA have banned bitcoin ETFs and you will find your bank makes it hard to buy spot - expect a call from the anti-fraud team and a friendly chat. There is considerable friction whereas MSTR and SWC can be bought in any ISA , SIPP or dealing account.

2.Most bitcoin proxy stocks display beta over spot. This is likely due to public listed companies being something of a cheat code of capitalism where any excess liquidity tends to find a home. The beauty of the bitcoin treasury companies is they have hacked this fiat glitch to effectively kill fiat. The stock market can't help but throw (strictly) too much money at them, and they have signaled a willingness to spend that extra money on underpriced bitcoin. It's like a Trojan horse or a virus, likely unstoppable due to the inevitability of continued fiat printing and inflation in counterpart to the absolute scarcity of bitcoin's supply.

The key for SWC will be whether they can go hard enough into the bitcoin treasury strategy to prevent the London graveyard from squashing their valuation down to 1x mNAV. Even if this does happen all ships on the bitcoin standard will be raised by the MSTR, XXI, Metaplanet. and SBR tide in the following years. A 1x mNAV will still be better than having no bitcoin on the balance sheet.

Two forces in opposition: the heavy dilution brought about by the need to get funding versus the Saylor flywheel. For some reason it's taken the UK this long for the formation of a single bitcoin treasury company and apparently this was the only way to get it done. If there were any serious people in an already listed company they would have done this years ago but sadly the UK is full of timid capital and backward thinking. MSTR is very well known story now. The best performing major stock on the American market since they pivoted to bitcoin in 2020. Likewise Metaplanet in Japan are one of the top performing stocks since their pivot. The Blockchain Group in France have 10xd in 6 months. CEP have rocketed prior to their reverse merger with what will be XXI, and no doubt they too will rally.

It's only the UK that appears to be incapable of getting this done on terms agreeable to enough people to ensure similar performance to the rest of the developed world. It's sad and as Englishmen we should hang our heads. The problem with England is everyone always has a great idea as to why NOT to do things. Whereas most of the rest of the world is concerned with actually doing things.

HL have now enabled trading on SWC from Tuesday 6th

Miners have been awful for years now. Bitcoin treasury companies have done OK this year. There's a lesson. Grinding a hundred thousand ASICs for at best slim margins is a complete misallocation of capital compared to Saylor who practically just steals the things using PubCo froth. MSTR, XXI, Metaplanet and even SWC.AQ for the win.

Just listened in to the 30 min Twitter spaces with Andrew this morning and it transpires that Hargreaves Lansdowne are still blocking their users from buying SWC. It's unacceptable given how they are one of the most traded companies on the Aquis exchange, have a profitable legacy business, and are a UK based growth business. I think there should be a boycott of HL by every self respecting bitcoiner until they do the right thing.

Those 39m shares to 210k Capital are key here. That's the Tyler Evans link. Check out Metaplanet - 3350 (Japan) now trading under the ticker MTPLF in the US. They have the flywheel going full speed and have grown over 2000% in little over a year. Tyler was an early investor there too and wants a bitcoin treasury company in every country.

Anyone selling MSTR in February misses that bitcoin often tracks sideways "forever" before making another violent move upwards. All these bitcoin treasury companies - MSTR, CEP/XXI, Metaplanet, SWC.AQ will be major winners if they continue to aggressively deploy the Saylor flywheel strategy. This is a once in a generation wealth building opportunity and most people are not even aware it is happening. If you are reading this and heed this advice you will likely be much wealthier in 5 years time. DYOR. NFA.

Miners are hated by the market. Trust me I was in MARA for years. Also be careful about buying value in this industry. Many bitcoiners are reasonably happy to buy into higher mNAVs in the knowledge they act as hyperbitcoinisation accelerators. With Tyler Evans on board it is likely they will be buying more bitcoin and getting the mNAV down towards 2x. The legacy business is also profitable and will scale according to Webley's interview released yesterday.

No news. Webley is apparently meeting with them soon. Irony is he used to be their Head of Online. You HL guys should threaten to transfer your funds over to AJBell who will buy these for you.

To answer your CEP question. I suspect the mNAV has run up so far because it's a low float micro cap in a sexy industry and traders are having their way with it. You also have the SPAC ignorance money of people thinking they are getting 100% exposure to all 42k bitcoin when in fact CEP holders will only receive 2.7% of XXI post combination. I am interested in CEP but will wait for the float and crash down towards 2x mNAV then take a long term position.