Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Michael “Lockjaw” Saylor transformed his failed Internet company MicroStrategy into a BTC holding outfit. It peaked, on MASSIVE volume, on November 12th. Since then, it’s down 45%. But, umm, $1 million BTC is on the way, so I’m sure it’ll all work out.
There is a website whose sole purpose in life is to track Michael Saylor’s bitcoin purchases and provide updates on the average purchase price. This is interesting for MSTR “investors” because, of course, the company has little else to show for itself except for its holdings of a bunch of encrypted 1s and 0s. The average price for the $54 billions of $BTC this guy has bought is about $62,000.
I was very impressed by a very lengthy note left on /wsb (original is here). I have pasted it below and boldfaced some of my favorite passages:
Bitcoin, a glorified ponz, is fueled by the greater fool theory. Or rather the idea that no matter how irrationally overpriced an asset becomes, there will always be a bigger idiot willing to pay more. Why is this a problem now? Every cycle, the same playbook repeats: euphoric hype, mass speculation, and inevitable collapse. With each crash, more and MORE people are financially butt f*cked.
Each cycle draws in a greater percentage of the population and we’ve hit critical mass at this point. There aren’t an infinite amount of people, our populations are shrinking, and at this point everyone in the world knows about bitcoin. Unlike gold, which has intrinsic material value, Bitcoin is a PURELY a speculative illusion. It produces nothing, generates no cash flow, and uses massive amounts of energy to solve hash functions that serve no purpose except to “mine” fake coins. It’s actually unbelievably how regarded this is. This is not innovation — it’s financial predation larping as “muh technological progress“
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