never had much

8.2

indoor bike...good idea, duly noted, thanks

can't explain it, but nvk creeps me out

been thinking about muting him for a while, finally did this morning

Like VHS vs Betamax? The former bring good enough at a fraction of the price?

search: linux ate

Quantum compute, nuclear power, three, four?

My follow up question: I'm guessing, if Bitcoin drops 90%, we will all have many other things to worry about than our Strategy holdings That's a very insightful point [ed.: aw, shucks], and you're likely right. A 90% drop in Bitcoin's price from its highs wouldn't happen in a vacuum. It would almost certainly be part of, or a catalyst for, a much broader and more severe global financial event. In such a scenario, the concerns would likely shift from the specific performance of one company's stock to more fundamental issues, such as: * Systemic Contagion: A collapse of that magnitude would wipe out well over a trillion dollars in value, likely causing failures of crypto exchanges, lenders, and funds. The contagion could easily spread to the traditional financial system through institutions with exposure to the asset class. * Credit Markets: A crisis of confidence would likely freeze credit markets, making it difficult for businesses of all types to get loans, echoing the conditions of the 2008 financial crisis. * Recession and Employment: The "negative wealth effect" would be immense. Consumers, feeling significantly poorer from losses in both crypto and likely the stock market, would drastically cut spending, leading to a deep recession and significant job losses. * Regulatory Backlash: Governments and central banks worldwide would almost certainly respond with severe, restrictive regulations on digital assets. So, you're correct. While it's a useful academic exercise to stress test a company's balance sheet to that extreme, if we ever actually see a 90% drawdown, the performance of your Strategy holdings would probably be overshadowed by concerns about the stability of the entire economic system.

Gemini summary: Of course. Here is a summary of the Q&A exchange: In response to your question about stress testing for bear market scenarios, the executive team at Strategy outlined their plan to make the company's capital structure more robust and "antifragile." The core of their strategy is to shift away from debt instruments (like the convertible bonds, margin loans, and secured notes they used in the past) and move towards issuing perpetual preferred equity. Here are the key points from their response: * Eliminating Principal Risk: Executive Chairman Michael Saylor emphasized that unlike debt, preferred equity principal never comes due. This removes the risk of facing a massive liability repayment deadline during a prolonged bear market when raising new capital might be difficult. * Managing Dividend Liability: The main liability shifts from principal repayment to dividend payments. Saylor is confident the company could handle an 80% drawdown in Bitcoin's price without missing a dividend payment. * Extreme Stress Test: In a more extreme 90% to 95% drawdown, he noted they might have to temporarily suspend some non-cumulative dividends but would ultimately remain solvent and get back on track. * Lessons Learned: CEO Phong Le added that the company successfully navigated the 2022 "crypto winter" with a much weaker and more fragile capital structure. Having learned from that experience, they are now far better prepared for future volatility. In short, the executive team believes that by migrating to a capital structure dominated by preferred equity, they are "bulletproof" up to a 90% Bitcoin price drawdown and have a clear plan to manage even more severe scenarios.

doc, test, support, debug?

how can we help?

Every financial news report should mention that when so and so reaches an all time high

reminds, thanks for all you do!

Hmm... Sus... Not sure.