they are legit for the most part... but long term tenability probably is not. I would just keep your keys and borrow against your coin if you need.

Smart dude. Ponzi wave intact.

Russell Okung to Be 1st NFL Player Paid in Bitcoin; $6.5M of Panthers Salary

What's the best way to do this?

^ Would also like to know

From NFL thread:

He loves BTC. talks about it on twitter nonstop. no doubt he's keeping a good chunk.

All of it? You don't structure it so half your salary goes to buy BTC only to dump it the next day.

This is the "some company"
https://payday.strike.me/

So some middleman company is taking part of his salary to convert it to BTC? He can't be bothered to learn how it actually works and do it himself?

Which on a long enough timeline likely leads to failure...

I believe that you are missing the point. If payment is denominated in ounces of silver, or BTC, then he is owed an amount of compensation that is measured by a much more reliable ruler.

If some NFL team owes some dude $2.6M in USD VS 10BTC, this is very different if, at the time that the deal was made, BTC was trading at $26K USD, but when it came time to pay it out it was trading at $100K USD...

(Full disclaimer I have no idea if he actually did this, but this would be the point of saying something like that...not to take on a USD account receivable (from the player’s perspective) and then convert that amount to BTC. That is no diff than keeping your mouth shut, taking your salary, and buying BTC...)

Companies BlockFi, BitcoinSuisse, Celcius Network etc all allow you to borrow against your BTC. Easy but you've got the third party risk.
https://blockfi.com/crypto-loans/

Or to do it in a more decentralized fashion you can use a platform like MakerDAO on ethereum
https://oasis.app/borrow

I don't have hard data, but it apears GBTC NAV premium is bid up in the AM, only to fall later in the session. This seems to indicate a sell in the AM, and buy in the PM, assuming one wishes to actively trade.

That's what wealthy people do. They hire people to do that work for them.

I think a case can be made to short BTC, but long ETH. At least for a short period.

The guy isn't being paid in BTC. He's being paid in USD and he is shilling for some company who will convert it to BTC. It's just a grift.

And he's too rich to click a few times on a website to purchase bitcoin from his bank account? I guess a fool and his money soon are parted. Though in this case, instead of him paying the company fees to do it, I assume they are paying him for advertising their company.

Here's a bear case for January
https://hackernoon.com/grayscales-gb...t-slow-0gu340l

Lol. The guy has been a crypto supporter for years. Why is it so hard to believe that he's legit interested in buying bitcoin and purchasing it with half his salary?

Here's a twitter thread for you

That article was facinating. Do i understand it correctly;

The article outlines that greyscale is essentially pumping the market because people buying are accredited investors who are just buying based on the premiums between the stock price and spot price of btc(greyscale actually buys the btc/holds it). There is lock down periods that require buyers to sell only after x months have passed. Arbitrage essentially at almost no risk other than lockup period/time/custody.

Then come December. There is no longer a accredited investor / or lock up requirement so therefore there might not be such large inflows into purchasing btc.



Does my summary correctly identify the articles thesis?


How come it doesn't just say bitcoin go up, thats much easier to analyze? lol btc breaking 28.1k as I write it out.

He must have been good with his finances his first couple years in the league and have money saved since he’s probably not leaving much income (relative) after taxes on that. But I wonder how much he is being paid by this company who is doing the transfer

I can't read your link (certificate expired).

I think you are describing the NAV risk premium seemingly inherent with GBTC.

Since some investment accounts can buy GBTC, but not BTC directly, a premium makes sense. But 30%, LOL.

The risk of waiting for NAV premium to go lower is to miss the upswing.

I'm guessing it's half his net income, not gross.

I didn't see anything about the accredited investor or lockup going away? I think they were just saying that grayscale is currently not taking in new money, which usually lasts like 6 weeks.

Mschu specifically mentioned getting a loan against btc while keeping your own keys. I don't think any of those options allow that. Only thing I can think is that it would need to be from a private party.

Hodlhodl does something like this right?

Can somebody explain the MicroStrategy investment hypothesis and valuation?

-Company generates 50mill free cash flow,
growing at 5% per year, will be converted to BTC

-1bn BTC in treasury
-650mill debt (used to buy BTC)

Stock is valued at 3.6 billion today. Why not just buy BTC yourself, or buy GBTC which is trading at a modest 20% premium, compared to 3-5x at MSTR?

I love what Saylor is doing and it makes perfect sense for his business. I just don't see the value at these levels compared to alternative ways to get BTC exposure. Then again, there are stocks like Tesla out there so if the answer is just "the market isn't rational" I can understand that.