GameStop has placed a vacancy for a security analyst who understands blockchain, cryptocurrencies and non interchangeable tokens (NFT). The position requires a bachelor's degree and more than five years of experience in the specialty. GameStop clarified that the future employee must be constantly in touch and take calls outside of business hours.
https://careers.gamestop.com/job/analyst-security/J3V0R174DZHKP9C5FVQ
Topic: The GameStop drama and what does it mean for Bitcoin (Read 1461 times)
I think you are drawing parallels which should not be drawn currently.
GME saga where the retail investors are against hedge funds who have exchange's under their thumb is different ball game . They are trying to get the stock down and profiting by doing so. Bitcoin is seen as people's money but the general idea with btc is fight between people and government which is printing money like crazy not people against hedge funds.
Who do you think governments print that money for? It is the same hedge fund managers that got the money and same banks and so forth that got all those printed money. When the world was in danger and economy was crashing governments print money and give it to corporations to continue operating and not bankrupting, while not paying the people a lot of money. Reality is that we have seen about 3.4k or so per person right?GME saga where the retail investors are against hedge funds who have exchange's under their thumb is different ball game . They are trying to get the stock down and profiting by doing so. Bitcoin is seen as people's money but the general idea with btc is fight between people and government which is printing money like crazy not people against hedge funds.
Well, corporations have seen 3 trillion dollars total, I do not know how it was distributed but it could have been nearly 6k per person more money if that money was given to people but governments were afraid business' would go bankrupt and instead of giving it to people they gave it to companies. So, basically bitcoin was created against government that ruined fiat to help hedge funds that fights with wall street bets, all ties together and all are in a war.
I was like sleeping in a cave for the last two weeks. Can somebody explain me what finally happened to Gamestop stocks?
Went up by a lot then went down by a lot. Then it went up again. Looks like it is on its way down again but who knows... maybe it is just catching its breath.
Here is your tldr:
I was like sleeping in a cave for the last two weeks. Can somebody explain me what finally happened to Gamestop stocks?
I think you are drawing parallels which should not be drawn currently.
GME saga where the retail investors are against hedge funds who have exchange's under their thumb is different ball game . They are trying to get the stock down and profiting by doing so. Bitcoin is seen as people's money but the general idea with btc is fight between people and government which is printing money like crazy not people against hedge funds.
GME saga where the retail investors are against hedge funds who have exchange's under their thumb is different ball game . They are trying to get the stock down and profiting by doing so. Bitcoin is seen as people's money but the general idea with btc is fight between people and government which is printing money like crazy not people against hedge funds.
I see what you mean but there is no evidence of what you imply here: I may concede that WSB was started for a reason but I am not as ready as you in making these kinds of conclusions. Let us not always manufacture the story that suits us the most but let us keep our eyes open.
To spice it up, will WSB be able to do another gigantic move? That is what intrigues me.
To spice it up, will WSB be able to do another gigantic move? That is what intrigues me.
Still, WSB is still alive and kicking. That wasn’t a one time story pump, despite the bloodbath many of the subscriber got recently.
My only fear is big money is going to infiltrate them only to use them for their own purposes.
Historically, the latter has always proven unavoidable. Unless it is a complete stealth project and no one knows who they are (in a way like no one was able to cohort Satoshi Nakamoto as no one knew who he was), infiltrators from the outside to direct WSB actions can come forth.My only fear is big money is going to infiltrate them only to use them for their own purposes.
We would know if that happens when the targets change: if we are able to find who is/are the enemy's target then we could understand who is behind them.
Hopefully, no one will be ever able to do that.
On the other side, I agree on what you said about satoshi, I'm very much glad he disappeared from the scene long ago and I hope so much he was able to have some others bitcoins (other from the satoshi's known stash) and that he's able to live an happy life on that.
To some extend I think it's already happening. But then every now and then comes a gem like this one:
"I am going to short the whole country of South Africa."
https://www.reddit.com/r/wallstreetbets/comments/lkzviy/i_am_going_to_short_the_whole_country_of_south/
Reading through his thought process and then the actually thoughful responses on why it's not going to work shows that behind all these shit posts there's actually a glimpse of sanity on WSB.
Lol! thanks for pointing me to this pearl.
The market has a special corner where they pile the corpse of those who tried to short the ZAR.
Still, WSB is still alive and kicking. That wasn’t a one time story pump, despite the bloodbath many of the subscriber got recently.
My only fear is big money is going to infiltrate them only to use them for their own purposes.
Historically, the latter has always proven unavoidable. Unless it is a complete stealth project and no one knows who they are (in a way like no one was able to cohort Satoshi Nakamoto as no one knew who he was), infiltrators from the outside to direct WSB actions can come forth.My only fear is big money is going to infiltrate them only to use them for their own purposes.
We would know if that happens when the targets change: if we are able to find who is/are the enemy's target then we could understand who is behind them.
Hopefully, no one will be ever able to do that.
I don't think anything very important or unusual happened. There was just another pump, after which the initiator of this whole idea to buy up GME shares sold them and remained in a huge plus. Perhaps for beginners this will serve as a lesson and they will draw some conclusions for themselves.
u/DeepFuckingValue doubled his position just a few days ago. The dude made a shit ton of money from call options, but never sold a single share.
He keeps posting his position on a semi-regular basis:
https://www.reddit.com/user/deepfuckingvalue
And given how deep the SEC has been up his ass lately I doubt that he's in a position to fake any of it.
Still, WSB is still alive and kicking. That wasn’t a one time story pump, despite the bloodbath many of the subscriber got recently.
My only fear is big money is going to infiltrate them only to use them for their own purposes.
My only fear is big money is going to infiltrate them only to use them for their own purposes.
To some extend I think it's already happening. But then every now and then comes a gem like this one:
"I am going to short the whole country of South Africa."
https://www.reddit.com/r/wallstreetbets/comments/lkzviy/i_am_going_to_short_the_whole_country_of_south/
Reading through his thought process and then the actually thoughful responses on why it's not going to work shows that behind all these shit posts there's actually a glimpse of sanity on WSB.
Still, WSB is still alive and kicking. That wasn’t a one time story pump, despite the bloodbath many of the subscriber got recently.
My only fear is big money is going to infiltrate them only to use them for their own purposes.
My only fear is big money is going to infiltrate them only to use them for their own purposes.
I don't think anything very important or unusual happened. There was just another pump, after which the initiator of this whole idea to buy up GME shares sold them and remained in a huge plus. Perhaps for beginners this will serve as a lesson and they will draw some conclusions for themselves.
It looks like GameStop is taking a second run. With the largest price moves having happened in the after hours of the market, to which most retailers don't have access, it seems like institutional investors and whales are the main drivers right now (forced to cover their positions due to the spike in the regular trading hours, maybe). Premarket in Europe looks steady, let's see if the opening of the NYSE either causes a dump due to people cutting their losses / trying to break even or another spike due to FOMO.
I saw a Reddit post that where they alleged some short sellers shorting GME, which of course caused a +100% increase, +300% increase after hours, but that post got deleted. AMC is up around 25% too. I am expecting this ride to be shorter than last because there's no way those that got burned at 300/400 per share of GME and sold are going to dabble in the market again.
It looks like GameStop is taking a second run. With the largest price moves having happened in the after hours of the market, to which most retailers don't have access, it seems like institutional investors and whales are the main drivers right now (forced to cover their positions due to the spike in the regular trading hours, maybe). Premarket in Europe looks steady, let's see if the opening of the NYSE either causes a dump due to people cutting their losses / trying to break even or another spike due to FOMO.
If you are living under the rock, the GameStop (GME) stock trading has been making quite the news recently, because retail investors organized on reddit managed to pump this stock and made some hedge funds suffer tremendous losses on their short positions, to a point when trading had to be halted, and similar events occured with other stocks.
Some people from crypto industry are already making comments how this can be good for crypto, because it's a revolt against old-school centralized finance.
I personally wouldn't hurry with conclusions, as this drama isn't over and we're yet to see any actions from SEC, who already said that they are monitoring the situation.
What do you think?
Some people from crypto industry are already making comments how this can be good for crypto, because it's a revolt against old-school centralized finance.
I personally wouldn't hurry with conclusions, as this drama isn't over and we're yet to see any actions from SEC, who already said that they are monitoring the situation.
What do you think?
I believe that the situation with GameStop stocks showed how bad the stock trading system is and that this is where major manipulations have been taking place for a long time. With regard to the SEC's response, how can such an organization watch when a big deception is happening in front of our eyes and its eyes? Apparently this event also shows that the SEC itself is involved in these manipulations on stock trading. Whatever it was, but there is a high probability that this event will affect some of the players in the stock market and force them to switch to the crypto market. Of course, this would be very good as the crypto market would attract even more money.
If you are living under the rock, the GameStop (GME) stock trading has been making quite the news recently, because retail investors organized on reddit managed to pump this stock and made some hedge funds suffer tremendous losses on their short positions, to a point when trading had to be halted, and similar events occured with other stocks.
Some people from crypto industry are already making comments how this can be good for crypto, because it's a revolt against old-school centralized finance.
I personally wouldn't hurry with conclusions, as this drama isn't over and we're yet to see any actions from SEC, who already said that they are monitoring the situation.
What do you think?
Some people from crypto industry are already making comments how this can be good for crypto, because it's a revolt against old-school centralized finance.
I personally wouldn't hurry with conclusions, as this drama isn't over and we're yet to see any actions from SEC, who already said that they are monitoring the situation.
What do you think?
In my opinion, centralization and decentralization are two interrelated trends in the modern world.
The internet is now very centralized. People don't use the Internet - they use Facebook, Google, Amazon, YouTube, Instagram, Tik-Tok. Almost the entire Internet audience is controlled by no more than 5 transcontinental companies.
There are also decentralized projects (Bitcoin, Ethereum, Monero and others). I wish there were more such projects and they would be popular.
Independent traders have won the battle against investment companies. But I don't think this is the final victory of decentralization. In my opinion, this is a local victory.
Elon is an eccentric billionaire, very very eccentric.
The question is, which billionaire isn't eccentric today? I can't think of many. His eccentric nature has also brought him the success he has.
But what I don't like is that he sparked the whole short action. He had to know that a lot of people are taking part who have no idea at all and are now faced with huge mountains of debt. I doubt that the stocks of the broke companies will recover again so that they can make up at least some of their losses. It's sad actually.
Among all the names you mentioned, I truly believe Warren is not role playing.
On the other hand I am almost certainly sure that Bill Gates and Bezos are larping huge. Especially Gates. I don't think he is someone you think he is.
Elon is an eccentric billionaire, very very eccentric.
The question is, which billionaire isn't eccentric today? I can't think of many. His eccentric nature has also brought him the success he has.
But what I don't like is that he sparked the whole short action. He had to know that a lot of people are taking part who have no idea at all and are now faced with huge mountains of debt. I doubt that the stocks of the broke companies will recover again so that they can make up at least some of their losses. It's sad actually.
I am not saying other billionaires have zero weird things, I am sure they all do, but none of them do it this publicly and none of them are doing it this weirdly, their weird things are less known and less weird. Hence Elon Musk is the most eccentric billionaire I know of and that will probably not change until some other crazy person becomes very rich as well.
I was laughing at the market when I first saw what's going on and later I tried to read the situation and what happened was quite amazing and something we must know.
I will try and explain what exactly happened for those who aren't sure what happened and why it happened. Its called as "Short Squeeze" and basically what it means is that you over sell an asset as you might know we can borrow an asset and sell it, expecting the value to drop in the coming time and repay.
Example: You borrow BTC at 40k expecting it to drop in coming days so you sold BTC at 40k now and buy again later when price is lets say 35k and earned 5k for free.
Now what happened is that some guys realized that the market has sold too many shares of the GameStop and they decided to just hold the share. Now since the people who borrowed and sold the gamestop token had to repay the borrowed amount which is where the story gets spicy. There was a sudden demand of the shares in the market and guys holding decided not to sell it. This pumped the value of the shares beyond expectations.
What I learned from this is that, keep an eye on the market and such things can occur in the crypto market too and all we need to do is keep an eye what's happening.
I will try and explain what exactly happened for those who aren't sure what happened and why it happened. Its called as "Short Squeeze" and basically what it means is that you over sell an asset as you might know we can borrow an asset and sell it, expecting the value to drop in the coming time and repay.
Example: You borrow BTC at 40k expecting it to drop in coming days so you sold BTC at 40k now and buy again later when price is lets say 35k and earned 5k for free.
Now what happened is that some guys realized that the market has sold too many shares of the GameStop and they decided to just hold the share. Now since the people who borrowed and sold the gamestop token had to repay the borrowed amount which is where the story gets spicy. There was a sudden demand of the shares in the market and guys holding decided not to sell it. This pumped the value of the shares beyond expectations.
What I learned from this is that, keep an eye on the market and such things can occur in the crypto market too and all we need to do is keep an eye what's happening.
"Suck my nuts Robinhood" is the spice of this drama, and maybe the most important part. Everything you said is correct, it's like that, and here in crypto we saw that game many times, with many coins! But in the "real" world, things are different!
"Robinhood Halts GameStop Trading, Angering Lawmakers And Investors" Source: https://www.forbes.com/advisor/investing/robinhood-gamestop-trading/#:~:text=Robinhood%20Freezes%20Buying%20of%20GameStop,in%20light%20of%20market%20volatility.
So what I explain to my friends is the difference between centralized and decentralized markets on this example! At least I know there are outstanding players in crypto and they earn with any capital, it's a free market and we all play, when we fuck up some whale who wanted to short he can't freeze exchanges! But in the "real" world, when Wall Street is losing money, they halt trading! Centralized markets are rigged, and you can't get a better example than this one! And this is a good thing, when people realize what happened they will have every right to choose decentralized market! Where you and everyone else depend on skills!
Jump to: