Cryptocurrency as the next significant stage for computing technology, not just an investment

[dr lopez]

12 minutes ago, pcock said:

This is absolute popcorn. Wsb now full intent on organising class action because Robin hood have disabled buying but not selling short squeeze stocks. 

i know it rules

[hijexx]

They're still finding a way to make money. Temporary vulnerability has been patched and the water put back in the tank.

You thought Wall Street was going to lose? Nah.

[hijexx]

Also Robinhood brand probably toast since they are helping to redistribute from the poor to the rich now

I love watching this stuff, it's fascinating

 

[Alcofribas]

since elon musk tweeted "gamestonks!!" i am officially against this movement

[BobDobalina]

Gather round the heat like a campfire

My suspicion is that this will continue to get muuuch more interesting in the days ahead, but not necessarily in a fun way.

Oh and computer, could you give me a printout of Oyster smiling?

[chenGOD]

2 hours ago, auxien said:

All this does is demonstrate how completely disconnected the market is from reality. Between the stupidity surrounding the all the time highs achieved at a time when ppl are struggling and unable to participate in the economy, to this wild gambling and speculation in GME, AMC (lmao!), and others, the market has shown itself to be absolutely ludicrous.

Absolutely this.

They need to eliminate short selling altogether.

Lot of people getting wrecked right now though with trading halted on all platforms basically.

Senator Warren:

 

 

[hijexx]

Cory Doctorow has a good thread

 

[zlemflolia]

7 hours ago, dingformung said:

I wonder if the bitcoin halving in 2024 will affect the worth of da bitcoin. 

there was a halving recently.  i think most big time investors are already aware of halvenings so its kind of priced in, but in practice probably not due to media frenzy around halvenins

[zlemflolia]

whatever regulation comes as a result of the gamestop incident it WILL overall hurt small people and benefit capitalists.  there is no way that if any major legislation comes out of this it's primarily around stopping hedge funds from short selling in this way.  i guarantee it will be about preventing small people from supposedly "rigging" the market in ways like this and from "colluding" online.  the state only exists to simplify class conflict into a win for the bourgeoisie

[Alcofribas]

lol @ the president of nasdaq calling for regulations haha 

[auxien]

Quote

Washington, D.C. – Federal Reserve Chairman Jerome Powell Announced Wednesday that the United States’ reserve currency will transition out of U.S. Dollars and into Game Stop (NYSE: GME) common stock following an exceptional rise in the stock’s valuation over the past month. The move comes as investors and policy makers have grown increasingly worried over inflation signals caused by relentless increases in the money supply.

“Today we take the first step in reigning in an unprecedented decade of low interest rates by moving the U.S. fiat currency to a more stable system backed by equity in one of America’s most secure companies, GameStop,” Powell said during the Federal Open Market Committee meeting.

stonks

[chim]

Picked up a few AMC. Totally expecting a rocket once the restrictions drop and Streisand effect compounds, but the excitement alone has been worth it it. What a wild shitshow today, a total artificial spook. Brave souls are still holding and double-dipping. Short interest is at minimum 120%+.

[pcock]

I'm only in with 3 shares left of GME I had to take some money this morning for my own sanity. I didn't have the balls to go all in, but im holding to see what happens. Max loss is 350 dollars or so. Mostly just happy to see some ultra rich people getting a ball squeeze.

[auxien]

part of me wonders if jumping out of GME/AMC/etc now might be the  best idea....let everyone make their money and Wall St can think of it all as a fluke. then do some better coordination next time once they've all forgotten about it?

i ain't got a penny in any of this shit btw, just interested on a theoretical level. playing the game is still contributing imo but no shade on anyone who is playing. make your dough m8s.

[chenGOD]

1 minute ago, auxien said:

then do some better coordination next time

SEC will go after anyone who isn't a market maker hard if there's a hint of this kind of activity.

If there isn't a massive investigation into Citadel and Robinhood, that might be the kicker to start the revolution.

[chim]

No point in taking the loss, the bullshit today proves what a powder keg this is. Even if it's rock bottom tomorrow/next week, at least AMC will rebound once covid is done. It's a decent long game for the low price. I missed the GME train when it was still sub-$200, felt too pricey and risky after that. probably wouldn't have had the balls to sit on that past $300. No idea how people in the hole for millions are staying sane, but the GME squeeze still hasn't happened and will take days for the sleazebags to cover. 

[chenGOD]

Also AOC:

 

 

[usagi]

6 hours ago, Enthusiast said:

lmao

4 hours ago, Alcofribas said:

since elon musk tweeted "gamestonks!!" i am officially against this movement

what a knobhead.

[jules]

1 hour ago, auxien said:

part of me wonders if jumping out of GME/AMC/etc now might be the  best idea....let everyone make their money and Wall St can think of it all as a fluke. then do some better coordination next time once they've all forgotten about it?

i ain't got a penny in any of this shit btw, just interested on a theoretical level. playing the game is still contributing imo but no shade on anyone who is playing. make your dough m8s.

HOLD!

 

 

1 hour ago, auxien said:

part of me wonders if jumping out of GME/AMC/etc now might be the  best idea....let everyone make their money and Wall St can think of it all as a fluke. then do some better coordination next time once they've all forgotten about it?

i ain't got a penny in any of this shit btw, just interested on a theoretical level. playing the game is still contributing imo but no shade on anyone who is playing. make your dough m8s.

HOLD!

but seriously, what happened today with robinhood was BS. 

 

[auxien]

1 hour ago, chenGOD said:

SEC will go after anyone who isn't a market maker hard if there's a hint of this kind of activity.

i've seen some takes that because it's just openly coordinated 'we think these stocks are good and so we're all buying/optioning them' it's totally legal. think of an IPO...everyone is made aware that it's going public next month, and everyone chats publicly or privately to decide what they think it is or is going to be worth...a bunch of people all buying in on that on day one, or halfway through day one if they see movement downwards or if certain key players don't buy in or whatever...that's all legal and expected. 

the illegality comes in when you're creating or promoting false information in order to try to and boost/sink something. just thinking or acting as if you think Gamestop is worth more than others think (even if there are ulterior motives) is legal. doing things whilst also having ulterior motives for doing them is basically the entire shortselling/misc industry beyond the basic buy/sell tick tock of stocks.

at least that's my understanding as a person who has zero stocks and does not work in the industry

1 hour ago, chenGOD said:

If there isn't a massive investigation into Citadel and Robinhood, that might be the kicker to start the revolution.

lol there's never going to be any revolution. especially not with the financial system, the general American populace is far too fucking stupid to get and stay motivated for such a thing.

10 minutes ago, jules said:

HOLD!

lol *reposts Hodl Gang rap*

1 hour ago, chenGOD said:

Also AOC:

 

 

will need to see some action from her before i believe it. her and the others are starting to look like a lot more talk than action.

1 hour ago, chim said:

Even if it's rock bottom tomorrow/next week, at least AMC will rebound once covid is done. 

wouldn't be so sure about that, but it's not a bad bet either

[chenGOD]

11 minutes ago, auxien said:

1 hour ago, chenGOD said:

SEC will go after anyone who isn't a market maker hard if there's a hint of this kind of activity.

i've seen some takes that because it's just openly coordinated 'we think these stocks are good and so we're all buying/optioning them' it's totally legal. think of an IPO...everyone is made aware that it's going public next month, and everyone chats publicly or privately to decide what they think it is or is going to be worth...a bunch of people all buying in on that on day one, or halfway through day one if they see movement downwards or if certain key players don't buy in or whatever...that's all legal and expected. 

the illegality comes in when you're creating or promoting false information in order to try to and boost/sink something. just thinking or acting as if you think Gamestop is worth more than others think (even if there are ulterior motives) is legal. doing things whilst also having ulterior motives for doing them is basically the entire shortselling/misc industry beyond the basic buy/sell tick tock of stocks.

at least that's my understanding as a person who has zero stocks and does not work in the industry

1 hour ago, chenGOD said:

If there isn't a massive investigation into Citadel and Robinhood, that might be the kicker to start the revolution.

lol there's never going to be any revolution. especially not with the financial system, the general American populace is far too fucking stupid to get and stay motivated for such a thing.

Yeah - and saying that GameStop is a good investment is completely false information.

I agree on the second part - must have been more sleep deprived than normal when I wrote that an hour ago lol.

 

[zlemflolia]

3 minutes ago, chenGOD said:

Yeah - and saying that GameStop is a good investment is completely false information.

I agree on the second part - must have been more sleep deprived than normal when I wrote that an hour ago lol.

 

"investment" is a word that depends on time horizons.  right now or at least at some point in the recent past, it is and was a good investment, assuming they are forced according to the law to buy back the shares they shorted as they should be, which will drive the price up higher.

Edited January 28, 2021 by cyanobacteria

[auxien]

9 minutes ago, cyanobacteria said:

"investment" is a word that depends on time horizons. 

yup. people buying Gamestop and sitting on it for 5 years, assuming gamestop still exists then, will be looked at as great investors.

[Enthusiast]

 

[usagi]