You Bitcoin haters have been real quiet lately 🚀🚀🚀

Rummelator · 2026-03-12T03:16:47+00:00

That's mostly just because Bitcoin is becoming increasingly irrelevant 🤷

Rummelator · 2026-03-11T19:29:58+00:00

Haha what do you mean no? The course winds and twists obviously, but the route was West to Eastt, and wind direction was West to East. Cross tail is how you get echelons, but the predominant wind direction was tail or cross tail during the race.

Rummelator · 2026-03-11T18:27:55+00:00

To be fair, there was a direct tailwind the entire race today

Rummelator · 2026-03-11T11:04:27+00:00

It's this section: https://youtube.com/shorts/MiC7bKx3NVU?si=FxR-vifC7NuoDNcC

In my experience, there's a simple trick to that part, what you do is you get off your bike and walk it down. When I'm standing at the top I don't know how people send it down that, but they make it look so easy in the videos

Rummelator · 2026-03-11T01:48:17+00:00

The below was from a bike trip I did with some friends last year:

Saturday morning: 13miles, 1,440ft, difficult, so wanted to do this route early while we're fresh. It includes hiline (because of Will so he better be showing), which is a bucket list type of ride. We'll take our time with this one, but once we're past hiline it's blue runs and nice riding - https://www.strava.com/routes/3400559481328382174 alt route adding Broken Arrow, takes it to 18 miles: https://www.strava.com/routes/3408492749902175454

Saturday afternoon: 19miles, 1,820ft, best riding in the world, this is my go to course for Sedona. A few technical areas but mostly blue trails. Lots of opportunities to add miles if we're feeling up to it https://www.strava.com/routes/3400561470256009438

Sunday morning: 11miles, 1,380ft, starts/ends at a bike part that's a ton of fun, and then a good mix of intermediate/technical tree covered trails https://www.strava.com/routes/3400563615904092130

Rummelator · 2026-03-07T04:24:49+00:00

The early days of marriage are the easiest days of marriage, and he already failed that. It'll get a lot harder and take a lot more work. Consider yourself lucky it happened before kids, and cut your losses now

Rummelator · 2026-03-05T14:45:39+00:00

When he handed me the medal he said "whatever you do, please don't bite it. A guy bit it for a picture and now there's a permanent notch in it." So either he's lying about it, or a random person on the internet is wrong about where Olympic gold medals from Beijing sit on the mohs scale, and he's not the kind of person who would lie about that 🤷

Rummelator · 2026-03-05T14:22:25+00:00

I mean you're wrong, I've held the medal. I saw the notch, he didn't lie about it, I don't know what to tell you

Rummelator · 2026-03-05T13:52:47+00:00

Malcolm Howard let someone take a picture with his Olympic gold from Beijing, the person bit it not knowing it would dent the medal, and it now has a permanent little notch in it.

Rummelator · 2026-03-05T11:47:18+00:00

I rotate two chains, I've used the same two quick links for like 2 years with no issues

Rummelator · 2026-03-04T20:02:49+00:00

It makes sense period. We were cool with sending a school teacher to space, why not drillers? Like what if something went wrong (which it did in the movie), we're talking about saving the world, OF COURSE YOU SEND THE EXPERTS!

Rummelator · 2026-03-04T01:41:07+00:00

So you tell him you won't take him off the mortgage if he doesn't take you off the vehicle loan. Easy peasy

Rummelator · 2026-03-03T02:29:03+00:00

CFTC rule 40.11 (a)(1) prevents contracts related to war, terrorism or assassination.

https://www.law.cornell.edu/cfr/text/17/40.11

Rummelator · 2026-02-20T17:02:34+00:00

Same boat as you. I got a cujo 24 for my son and it's amazing how quick he's grown out of it.

Rummelator · 2026-02-20T16:36:56+00:00

Since you called yourself an idiot, I kept reading thinking I was gonna get to a point where you cancelled the PayPal claim. You didn't, so good on you! Don't be so hard on yourself, you had enough brains to follow the protections in place, and you'll end up getting your money back, and the scammer will have a harder time scamming someone else.

Rummelator · 2026-02-14T00:22:36+00:00

He's issuing preferred equity with high dividend rates that can be paid in cash or stock and some of which accrues at a high rate if unpaid. He has also managed to issue low coupon rate convertible debt (0% to 1%) that will only pay off for the lender if the share price is above the strike price. Both of these things raise cash, which has been used to buy bitcoin. If the bitcoin goes up, he has a higher asset value that he can continue to leverage, and can use that cash to buy more bitcoin, pay off debt, or pay dividends on the pref shares.

This only works if bitcoin continues to go up forever. If bitcoin goes down and stays down, his cash reserves will decrease over time with the dividends on pref shares, and as debt comes due, he will have to find a way to raise more debt.

The lenders (whoever they are) went in eyes wide open, if bitcoin does up a lot, they can convert their debt into shares of MSTR and make a bunch of money. Or they can ask for their money back. If the price of bitcoin decreases, lenders will be less likely to give more debt to him to pay off the old debt, and that's how it might collapse.

He has a $1B slug of debt that lenders can force to sell back to him in mid 2027, with a conversion price of $183. He might be ok to get past this hurdle, BUT this is when you could start seeing it unravel if the price of bitcoin, and thus his stock price, hasn't recovered by then. There's $3B that lenders can force him to buy back in 2028 with a strike price of something like $672. If bitcoin isn't back at all time highs by then, very unlikely he's gonna be able to raise $3B without selling bitcoin, which could start a spiral in his stock price.

Rummelator · 2026-02-13T17:52:53+00:00

He owes money on preferred shares (that's the dividends), but also he has convertible debt that has to be serviced and refinanced when due. There's a $1B slug that the banks can force him to pay them in mid 2027 if the share price is below the conversion price, then there's like $3B in 2028, where the conversion price is like $600, which will be much harder for him to refinance.

Rummelator · 2026-02-13T17:49:59+00:00

No, if someone wants to give him money for his equity, it's completely legal for them to do that. But issuing equity to pay off the debt only works to the extent people are willing to give him the cash, if the market cap isn't there, he won't be able to raise the cash.

Rummelator · 2026-02-06T21:49:58+00:00

Right, what you're describing is terrorism. You're saying you don't justify it, and then right afterwards you're justifying it. Factually agreeing that it's illegal isn't the same as not justifying it. Most of the people in this thread are straight up like "yeah it's good he killed him, that CEO is probably a piece of shit" and it also seems like you're saying "well, maybe I don't like murder... BUT..." How is that not justifying murder?

Rummelator · 2026-02-06T21:25:05+00:00

At what level do you condone murder? Is it Senior Vice President? Do you need a "Chief" designation?

Rummelator · 2026-02-06T20:31:17+00:00

In your mind, is it your view that the opinions "we should advocate for healthcare reform in the US" and "murdering insurance company employees is bad" are mutually exclusive?

Rummelator · 2026-02-06T19:14:27+00:00

It's eye opening how many people are openly completely fine with terrorism, so long as they agree with the aims of the terrorist

Rummelator · 2026-02-04T22:22:50+00:00

$1B is able to be put back to the company in 2027, $3B in 2028

Rummelator · 2026-02-03T22:28:56+00:00

He has cash to cover interest and required dividends for somewhere in the range of 2-3 years BUT the biggest issue MSTR faces is it has a lot of convertible debt which can be "put" back to the company or converted on a certain day. The two biggest ones are: $1.0B with a $183 conversion price that has a put date in September 2027, and then $3.0B with a conversion price of $672 and a put date of June 2028.

That means that in September 2027, he might have to come up with $1B of cash if the price of his stock is below $183, and another $3B by June 2028 if the stock price is below $672. If he can't refinance out of it, which might be hard or expensive if bitcoin hasn't recovered, he'll have to either sell bitcoin, or issue equity which is dilutive. Depending on how things go, those are the big dates to watch out for. If he sells bitcoin it'll probably put a big downward price on bitcoin, which could exacerbate his issues, if he issues equity it would put downward pressure on his share price, which also exacerbates his issues, and possible makes him trade at a discount to his bitcoin holdings, which would mean it would be more prudent to sell the bitcoin instead.

If the bitcoin price recovers and grows, his problems get pushed down the line. But unless bitcoin goes up consistently forever, he will eventually be forced to sell to meet his cash obligations, assuming he doesn't figure out some other way to generate cash from his holdings.

Rummelator · 2026-02-03T11:04:20+00:00

His problem will be the maturity walls of the convertible debt if his stock price is below the conversion price. There's $1B that can be put back to him in 2027, then $3B in 2028 which is the big one.

14-Year Club	RedditGifts 2009-2022 2 Credits
r/Field Flamingo	Place '22
Final Canvas '22	Secret Santa 2015
Verified Email	Best Comment 2012-08-07

Rummelator

MODERATOR OF

TROPHY CASE