Topic: The GameStop drama and what does it mean for Bitcoin - page 5. (Read 1490 times)
With new management in the whitehouse, fear of tax raise, and now money literally being taken from the people by wall street and robinhood by halting the purchase of GMC, and the recent pump of dogecoin (absolutely hate that coin so i never bought in), more people than ever are learning that the "free market" isnt really "for the people". And with the dogecoin hype, more people than ever are learning how to buy and trade crypto. Leading people to know more about bitcoin and ETH and hopefully join in. I think it is only a matter of time before bitcoin sees another pump. Ofc itl be a spike with a drop, but not everyone will be getting out and people like myself who bought in earlier will be enjoying the ride.
Cryptocurrency, like stocks, has always been a capitalist’s game. Ordinary people can only seize a little opportunity to make money by obtaining information. With the popularity of cryptocurrency, things like Bitcoin and getting rich overnight have become more and more difficult.
I have a gut feeling that WSB won't be on the winning side when the dust settles. But that's OK as long as RobinHood and the other thieves get punished also.
People are saying that it's not a bubble, it's a short squeeze, that you can profit from hedge fund losses, but come on, GameStop is not worth whatever billions it is worth now. The price will go down and late buyers, especially noobs, will get rekt, there's no other way around it. I think it's ironic that all these people who hate the Wall Street for screwing the little guy are seeing no problem with throwing the same little guy under the bus just to ruin some hedge fund.
Yes but the issue at hand right now is not the late buyers who will get rekt holding the bag but its to squeeze all the hedge funds which shorted GME and cause price to hit $10K or so. Right now they weren't taking the money from the little guy. They were bsaically liquidating the hedge funds shorts and they were the ones who ended up having to buy at a high price.
Then the restrictions started to come into play prohibiting most brokers from allowing trades on GME. Do you think these restrictions were so "Late buyers won't get screwed holding a $10 stock at $500/share"? or was it " To prevent a dozen hedge funds from having to go bankrupt and liquidate all their assets"?
What happened this week is proof that the game is rigged and the little guy will never win.
I have a gut feeling that WSB won't be on the winning side when the dust settles. But that's OK as long as RobinHood and the other thieves get punished also.
People are saying that it's not a bubble, it's a short squeeze, that you can profit from hedge fund losses, but come on, GameStop is not worth whatever billions it is worth now. The price will go down and late buyers, especially noobs, will get rekt, there's no other way around it. I think it's ironic that all these people who hate the Wall Street for screwing the little guy are seeing no problem with throwing the same little guy under the bus just to ruin some hedge fund.
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?
The hedge funds that shorted the stock to a technically unsustainable level are getting what they deserve. However, the same goes for the idiots who are still buying the stock. GME isn't worth $400 a share and in all likelihood will never be worth $400 a share. A collapse is all but guaranteed. Right now there is still to much hype driving the buy side, but this will lose momentum over time for the simple fact that people sitting on huge paper gains can't realize them without selling. Just as the buildup gained momentum, eventually the opposite will happen and the collapse will build momentum. One thing remains invariably true- anyone who loses money trading this absolutely deserves it.
Imagine the SEC needing to sue a meme...because that is what could happen really. Would you believe it?
A bunch of self-proclaimed retarded against the wolves of wall street.
Welcome to Irresolute New World.
And do not forget to buy doge, such wow.
A bunch of self-proclaimed retarded against the wolves of wall street.
Welcome to Irresolute New World.
And do not forget to buy doge, such wow.
I couldn't help smiling at the thought of some Wall Street sharks losing billions 
I already read that some politicians now want to look into the shorting regulation.
It's also kinda nice to see crypto-style volatility on the stock market for a change.
Far forward in the future, I'd love to see blockchain-shares. Kinda like back in the days, when shares where printed on paper, and you could just store them by yourself so your broker can't lend them out and some rich shark can't sell them to short them.
I already read that some politicians now want to look into the shorting regulation.It's also kinda nice to see crypto-style volatility on the stock market for a change.
Far forward in the future, I'd love to see blockchain-shares. Kinda like back in the days, when shares where printed on paper, and you could just store them by yourself so your broker can't lend them out and some rich shark can't sell them to short them.
With crypto, you just can't print money.
Sure you can, that's literally what altcoins do. They're too late to get into Bitcoin cheap, so they create and hype their own altcoin, ICO, Fork, DeFI or whatever they come up with next. Then they sell it to some sucker and run off with real money.Soon the ordinary people will have the power to control the financial markets and the hedge fund managers will have to follow the masses,instead of trying to manipulate the markets themselves.
I think that's very unlikely. But it would be be nice if it becomes harder to short. Shorting to me looks like a very bad part of capitalism, it's the opposite of investing and yet they earn from it.It won't end well. There must be an epic dump at some point, and the victims usually the small investors.
If the hedge funds really lost a couple billion dollars (I've seen numbers ranging from $3 to $70 billion), it's not a zero-sum game for the "small" investors. As a group, they can profit a couple billion dollars. Of course some of them will end up at a loss, but the average could be positive.Haha the Gamestop thing is really the funniest thing I have ever seen in my trading life.
To me, this is as unexpected as the negative oil prices last year. Markets have a very long bull run now, it's inevitable to go down at some point. I just didn't expect things like this to happen first.https://twitter.com/CGasparino/status/1354859765491494912
So SEC is saying it's illegal to base your trades on something you've read on the internet? Millions of people do that, I too get most of my information online. Or is it only illegal if it hurts sharks?Quote
"BREAKING: Regulatory sources say @SEC_Enforcement will be looking at a market manipulation case on @RobinhoodApp - @reddit - $GME imbroglio. They expect SEC to ask for Robinhood's blue sheets trading data, and try to match it up with suspicious comments on Reddit. (1/2)"
The problem is, them being so greedy that they are shorting 40% more than the entire company. If the company has 100 shares in total, they are trying to short 140 shares. How can one sell something that doesn't exist in the first place?
So they borrow shares, sell them, then borrow them again from the new buyer? That's crazy, it's like fractional reserve shares 
I have a gut feeling that WSB won't be on the winning side when the dust settles. But that's OK as long as RobinHood and the other thieves get punished also.
I think it’s highly unlikely for a WSB boy to get fined or sanctioned. This would imply a massive investigative effort to determine which RH account was somehow tied to a Reddit account. And also, given they operated a KYCed, fully regulated market, I find very difficult for anyone to demonstrate some rule breaking.Of course, this is instead my gut feeling. Like no major fine to Citadel and company.
the guy which orchestrated the "manipulation" has revealed himself already.
let's see what the future will bring.
two guys in GB were fined high for orchestrating a snow ball fight theses days too.
I have a gut feeling that WSB won't be on the winning side when the dust settles. But that's OK as long as RobinHood and the other thieves get punished also.
I think it’s highly unlikely for a WSB boy to get fined or sanctioned. This would imply a massive investigative effort to determine which RH account was somehow tied to a Reddit account. And also, given they operated a KYCed, fully regulated market, I find very difficult for anyone to demonstrate some rule breaking.Of course, this is instead my gut feeling. Like no major fine to Citadel and company.
I have a gut feeling that WSB won't be on the winning side when the dust settles. But that's OK as long as RobinHood and the other thieves get punished also.
The SEC is going to look into what has just happened:
Statement of Acting Chair Lee and Commissioners Peirce, Roisman, and Crenshaw Regarding Recent Market Volatility
The Commission is closely monitoring and evaluating the extreme price volatility of certain stocks’ trading prices over the past several days. Our core market infrastructure has proven resilient under the weight of this week’s extraordinary trading volumes. Nevertheless, extreme stock price volatility has the potential to expose investors to rapid and severe losses and undermine market confidence.
As always, the Commission will work to protect investors, to maintain fair, orderly, and efficient markets, and to facilitate capital formation. The Commission is working closely with our regulatory partners, both across the government and at FINRA and other self-regulatory organizations, including the stock exchanges, to ensure that regulated entities uphold their obligations to protect investors and to identify and pursue potential wrongdoing. The Commission will closely review actions taken by regulated entities that may disadvantage investors or otherwise unduly inhibit their ability to trade certain securities.
In addition, we will act to protect retail investors when the facts demonstrate abusive or manipulative trading activity that is prohibited by the federal securities laws. Market participants should be careful to avoid such activity. Likewise, issuers must ensure compliance with the federal securities laws for any contemplated offers or sales of their own securities.
The Commission will continue our work on behalf of investors and the markets. In this regard, we hope to facilitate a robust public dialogue among market participants and investors on the structure and operation of our securities markets. Members of the public can submit tips or complaints through the Commission’s website using this online form. Members of the public with questions should contact the Commission’s Office of Investor Education and Advocacy at 1-800-732-0330, ask a question using this online form, or email us at [email protected].
I can see the guys at Citadel shitting in their pants /s.
As a free market believers I do hope SEC are going to fine them, but I doubt it.
Statement of Acting Chair Lee and Commissioners Peirce, Roisman, and Crenshaw Regarding Recent Market Volatility
Quote
The Commission is closely monitoring and evaluating the extreme price volatility of certain stocks’ trading prices over the past several days. Our core market infrastructure has proven resilient under the weight of this week’s extraordinary trading volumes. Nevertheless, extreme stock price volatility has the potential to expose investors to rapid and severe losses and undermine market confidence.
As always, the Commission will work to protect investors, to maintain fair, orderly, and efficient markets, and to facilitate capital formation. The Commission is working closely with our regulatory partners, both across the government and at FINRA and other self-regulatory organizations, including the stock exchanges, to ensure that regulated entities uphold their obligations to protect investors and to identify and pursue potential wrongdoing. The Commission will closely review actions taken by regulated entities that may disadvantage investors or otherwise unduly inhibit their ability to trade certain securities.
In addition, we will act to protect retail investors when the facts demonstrate abusive or manipulative trading activity that is prohibited by the federal securities laws. Market participants should be careful to avoid such activity. Likewise, issuers must ensure compliance with the federal securities laws for any contemplated offers or sales of their own securities.
The Commission will continue our work on behalf of investors and the markets. In this regard, we hope to facilitate a robust public dialogue among market participants and investors on the structure and operation of our securities markets. Members of the public can submit tips or complaints through the Commission’s website using this online form. Members of the public with questions should contact the Commission’s Office of Investor Education and Advocacy at 1-800-732-0330, ask a question using this online form, or email us at [email protected].
I can see the guys at Citadel shitting in their pants /s.
As a free market believers I do hope SEC are going to fine them, but I doubt it.
The thing of RH closing kinda shows how centralised the exchanges are (especially for small cap stocks like this. One of two international exchanges stopped trading it and the rest just followed (even cross continent).It also didn't seem to be listed in premium exchanger services (ones you pay a fee per trade and a maintenance fee on the account...
The U.S. are the Motherland of Capitalism and will it be forever and ever. period.
there is no chance for any other country to replace it even not for the CCP.
Wrong! The motherlands of capitalism are United Kingdom and the Netherlands [1]. If you take it very seriously, then the Netherlands. Capitalism is not bad. Without it a large part of the population today belonging to the middle and upper classes would be poor. It is just not allowed to be uninhibited capitalism like e.g. Manchester capitalism but rather a tamed capitalism such as the social market economy.
[1] https://en.wikipedia.org/wiki/History_of_capitalism
I believe Bitcoiners know that the system is rigged, this is why most of us joined Cryptocurrencies, with the power that be using all the tools at their disposal to stop the GameStop show, these investors know how the system is run and have the first hand knowledge of how to beat these Wall street guys. Bitcoin is the only system now that is fair to everyone, this is why I believe we will hit $5 trillion very soon, just look at Doge price yesterday, this people will keep looking for this insane profit until the Crypto bear market set in and flush out most of these dump money
Hmm read a WSB thread and this is big brain stuff here who said the stock market can't be as fun as crypto at times it has its moments haha
https://www.reddit.com/r/wallstreetbets/comments/l7fw0x/i_used_to_work_merrill_heres_what_likely_happened/
TL;DR: There's simply not enough float and the broker/clearing house will fail to deliver on a large scale if they keep letting new positions be opened, hence restrictions.
What will happen now: Based on my previous short squeezes, Friday (tomorrow) will be nuts; All this gamma has to go somewhere and since there's not enough float, I'm guessing up up up up up.
https://www.reddit.com/r/wallstreetbets/comments/l7fw0x/i_used_to_work_merrill_heres_what_likely_happened/
TL;DR: There's simply not enough float and the broker/clearing house will fail to deliver on a large scale if they keep letting new positions be opened, hence restrictions.
What will happen now: Based on my previous short squeezes, Friday (tomorrow) will be nuts; All this gamma has to go somewhere and since there's not enough float, I'm guessing up up up up up.
I remembered a stock here in our country who went from I think $0.35 to $4.99 in just one day. Many are crying with that when it happened and its the same here. I just hope that traders who are already in a loss right now can get out of this situation and I hope that they aren't depressed right now.
No matter which way the asset goes, upawards or downwards, somebody will be unhappy.
Why open up a position if you are not cool with losing the money you put on that position?
For every position you open there is somebody else betting against you.
Essentially it all boils down to gambling and you shouldn't play if you are afraid of losing. Get a job instead.
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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?
I didn't have the opportunity to ride this very huge wave in the past days but when I'm reading this thing on Facebook and in Reddit, I literally laughed hard in my bed.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?
This will be just one of the pump and dump scenarios that will happen in the stock market. It might affect this centralized finance thing and it can also have an effect in cryptocurrency. Its quite unfortunate for those hedge funds who filed for bankruptcy because of this scenario and more unfortunate for those traders who literally bought GME at the top and now suffering a huge loss.
I remembered a stock here in our country who went from I think $0.35 to $4.99 in just one day. Many are crying with that when it happened and its the same here. I just hope that traders who are already in a loss right now can get out of this situation and I hope that they aren't depressed right now.
Gamestop situation showed us that when not so rich people get together they could out finance the super rich companies as well. The reason those huge wall street banks are capable of doing whatever they want is the fact that there are other investors in it, it is not like few people who are rich suddenly trading, it is tens of thousands of people or other huge banks investing into those hedge funds and that is how they manage to make those trades, which means those companies are basically a community of investors lead by a CEO as well.
We can't fight them alone so we need to get together and when we get together we can become even bigger. At one point wallstreetbets had 800k+ people online, they were buying gamestop shares like crazy and they are still holding, it is not even about making a profit now for them, it is about hurting the ones that hurt them before and getting revenge, same logic as why people move to bitcoin.
We can't fight them alone so we need to get together and when we get together we can become even bigger. At one point wallstreetbets had 800k+ people online, they were buying gamestop shares like crazy and they are still holding, it is not even about making a profit now for them, it is about hurting the ones that hurt them before and getting revenge, same logic as why people move to bitcoin.
That's true but it is not really good for any market at all! A market which can be manipulated at will, is very dangerous for an average Joe! It is only profitable for those people are part of the strategy (or should I say conspiracy), but super dangerous for the rest.
Buying stock or investing is always connected with danger and chance of losing. But GameStop drama showed that these average Joes could cooperate and act on the same level as Scrooge McDuck and his mountain of money.
It is like in poker. It is nearly impossible to beat a guy whos amount of chips exceeds other players total chips multiple times. He can just all-in with weak hand all the time and kick-out players from the table.
What Robinhood and other trade desks did today will be remembered. If people want to play with the stocks know the risk they are taking and still want to YOLO that's on them not Robinhoods place to interfere when hedge funds do the same thing.
The excuse seems to be collateral obligations that broke Robinhood I can see that making sense however they could have worked on it without a suspension of trading that said if they ante up ... we may see quite the surge tomorrow when those shorts close.
https://fortune.com/2021/01/29/robinhood-raised-investors-billion-client-revolt-collateral/
https://finance.yahoo.com/video/heres-why-robinhood-restricting-users-173049721.html
Don't play with more than you can lose applies to hedge funds and traders, calling your buddies to freeze exchanges is just a manipulation plain as that sure they can do it and they have to lower their losses it's their chips however this will cost them.
That said I am a bit partial to the WSB group since I do think hedge funds need to be punished for the 2008 bailout and got away with a slap on the wrist also if this shows anything it's that this is all fun and games till Wall Street is crying then it's point the finger and nag cause they treated it like a casino too.
DEX is getting brighter by the day.
The U.S. are the Motherland of Capitalism and will it be forever and ever. period.
Socialism for the Rich (Hedge Funds) (Big Firms in Covid)
Capitalism for the Poor (People) (Small Business)
The excuse seems to be collateral obligations that broke Robinhood I can see that making sense however they could have worked on it without a suspension of trading that said if they ante up ... we may see quite the surge tomorrow when those shorts close.
https://fortune.com/2021/01/29/robinhood-raised-investors-billion-client-revolt-collateral/
https://finance.yahoo.com/video/heres-why-robinhood-restricting-users-173049721.html
Don't play with more than you can lose applies to hedge funds and traders, calling your buddies to freeze exchanges is just a manipulation plain as that sure they can do it and they have to lower their losses it's their chips however this will cost them.
That said I am a bit partial to the WSB group since I do think hedge funds need to be punished for the 2008 bailout and got away with a slap on the wrist also if this shows anything it's that this is all fun and games till Wall Street is crying then it's point the finger and nag cause they treated it like a casino too.
DEX is getting brighter by the day.
The U.S. are the Motherland of Capitalism and will it be forever and ever. period.
Socialism for the Rich (Hedge Funds) (Big Firms in Covid)
Capitalism for the Poor (People) (Small Business)
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.
-snip-
This shows how those centralized financial institutions are controlled by the billionaires who can do whatever they want. When billionaires manipulate the market, no one cares, but when a bunch of regular people unite together to manipulate the price in order to "mess with them", then the whole world (the entities controlled by the billionaires) becomes concerned about the manipulation and deems it unhealthy to the market.-snip-
-snip-
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?
Lol, what else do you expect SEC to do? They will favor those hedge funds investors 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?
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