Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 6189. (Read 26710737 times)

+1 WOsMerit



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+1 WOsMerit





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#stronghands

YOLO  


NO
I'd absolutely be PROUD to be sexually excited (if i were, but feels like i'm very close to it, actually)

Also YOLO 

Is it wrong for me to admit I am sexually excited by the notion of hedge funds being absolutely destroyed ?

yes  


The most that were in for the fiat money went out for cash (at profit or loss) or switched to the hyped stocks WSB didn't originally even ask to buy (SLV, BB, NOK...).
All the noobs made all the noob mistakes, completely opposed to what WSB advised them to do. Seems like the majority in the game are currently

1. diamond hands (either for the gains or hedge fonds revenge)
2. bag holders that hope to break even
3. institutions riding this wave
4. a small minority not covered in 1-3

I stayed. Same as with BTC. I am at quite a loss now, which i managed to minimize by watching pre-hours trend (-30% already at NYSE open), closed all positions but one share, waited until -30% hit on the market, re-bought with 1/3 of the liquidated amount, observed, re-bought with another third of fiat at -40%, and actually, because i had to leave the house, at -43% again. I will hold the 1 share position forever (this is for you, hedgies) and did not yet decide about the other positions.
Well, i think as long as the price tanks further, i will keep holding. It's not much money, especially when i look at the BTC net worth of mine, but i still had to give up or delay some spendings of my future private life. This is "play money", i don't expect anything in terms of return.
Overshorted hedgefunds can suck my lil boner in the form of my diamond handed GME shares.
I am in for the paradigm shift, the shares are my trophy, and my statement to them. I said from the beginning: Paper hands, GTFO! Let the real dudes continue with the game. One of the best i played in years, honestly.

OT: Hedgefund Greylock Files for Bankruptcy After Losses Spur Withdrawals

https://www.bloombergquint.com/markets/hedge-fund-greylock-files-for-bankrupcty-in-new-york

But...bbut...I thought CNBC said that emerging markets were the way to go? That I would soon be rich? /s    

Some random news to start off the day.

Punxsutawney Phil says six more weeks of winter. I think I can speak for most and say...yep..seen that one coming a mile away.

https://apnews.com/article/groundhog-day-punxsutawney-prediction-85527080ccef649d2807bfa4804fec25

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With a heavy heart but head held high I have to announce the passing of a true legend.

Captain Sir Thomas Moore passed away today. RIP

https://apnews.com/article/tom-moore-dead-744f031f8720b48b60683c794d8bd171


atten-hutt!
 
attention to orders!

A moment of silence will be observed today at noon the in the central courtyard.

dismissed.

The Wellesley


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On a brighter note. SpaceX continues its rapid pace in Boca Chica with another test flight possible today. SN9 is scheduled for a test flight today sometime in the next couple of hours. The launch pad around the vehicle was cleared just a short while ago.  

NasaSpaceflight SN9 launch on YT


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morning charts

#retailarmy

#dyor

carry on


1h



4h

#stronghands

Things are getting pretty serious about Ranchero Lawblaw. Have engaged an engineer for a proper survey / evaluation of the land we're looking to buy. Also, surveying to see if we're able to build a well on the property, which will be critical.

Woo.

Them: "Wait, so, you want to build a racetrack, through a 100-year floodplain ?"
Me: "Yeah, 1% chance per year. That means I have a 99% chance, decreasing, of using it every year until I die. I'll play those odds."
Them: * Look on face of "Is this polite black man serious ?" *
Me: "Yes. I'm absolutely serious. Around the perimeter of the property. Please make sure we are abiding by easement rules for the properties next to us. We'll need a cross-section for the race-track intersecting the driveway."
Them: "You have obviously given this a lot of thought."
Me: "Yes."

Also, go Corn !!!

WO before WSB:




WO after WSB:



Fuck WSB.

with "them" i meant bitcoin critics not the wsbet guys...

first time ever that i took money and invested in something was at the very end of the dotcom bubble. got 10k and went to the bank, completely clueless. told them i wanted to buy internet stocks. they helped me setting up a very nice portfolio of 10 different very hot stocks. i told them i only wanted to invest 9k into internet stocks and 1k in something completely opposite to internet. they asked me what that would be. i had no clue amd told them i would want shares of a car maker. they looked at me as if i had said "drugs" or something. they told me that no one was buying car companies, they strongly advised me not to do it. i picked volkswagen.
3 days later one of the biggest bubbles in finance history bursted. all my internet stocks went to pennies. i had turned 10k into 1k in basically a week. the VW stock sat there and did not move and i decided to hold it until is made a 10x and sell it then to cover my losses.  well, car stocks usually don´t do 10x moves everyone told me. but then, one day, 8 fkn years later, this short squeeze happened. i got my money back.

I don't see anyone saying anything bad about BTC anywhere in WSB.

Look, the company issues shares and those numbers are known. When a short seller sells a share they don't own, they are basically creating a new share out of thin air. Whoever buys that imaginary share has all the rights and benefits as if they owned a share issued by the company. If the company issues a dividend, the shorter is responsible for paying that dividend on the imaginary share they created.

The only way a shorter can get out of this situation is to buy any share back and like matter/anti-matter, the short and long shares destroy each other on contact. Once all the shorts are gone, all the imaginary longs are gone as well, and we are back at the number of shares the company actually issued.

In the back office of any brokerage, there are number crunching people trying to keep the whole house of cards from collapsing. The best way to do that is to borrow shares that actually represent the fake shares the traders created. If they are unable to do this because there aren't that many in existence, they still have lots of other shares of other companies to cover for the shares they don't have. They figure they can always liquidate those and buy shares on the open market if they run into trouble.

Our whole economy is built like this, it's how banks create money from nothing and how debt is magically turned into an asset. The sooner the thing collapses, the better it is for hard assets like BTC. GME is the best chance we've had in a generation to cause the thing to collapse and it aint over yet.

Word. Gimme 5+% APY (in bitcoin) with 100% guaranteed principal (in bitcoin) and we can talk about it. Otherwise, forget it.

the hedge funds were shorting the stock without owning any. the wallstreetbet guys used an app that only leased the stock they only think they own and maybe even leased each stock multiple times. so no one actually owns anything.

and them saying our rock solid bearer instrument is just hot air?  

I previously said that I was going to buy some GME to show my support. I later decided against this. I guess I got riled up over the weekend, but a good nights sleep made me think clearer again.

I love seeing Wall Street getting screwed over by retail investors like any other guy, but the game is rigged. If one really wants to fight the current financial system, there's really only one answer to that -- bitcoin. I've been all-in in bitcoin for many years for a reason, and I intend it to stay that way.

It doesn't look like anyone is bailing to me. Some exchanges cancelled peoples orders, added unwanted stop losses, and restricted trading all while shorts are doubling down. Everyone else is just holding and waiting for the action or buying more when they force it down. All pretty impressive when you consider all the trading restrictions in place now.

Looking at people already bailing GME-ship, they will prove mostly paper hands.

My dope of choice ATM: GME

- Bit of extra money, just a dash of diversification.
- Stick it to the man all right

No jest, no intentional profit burning. A sensible bet, moderate in amount and with highly asymmetrical stakes. The asymmetry reminds me of... oh well, you know what I'm talking about, you've been onboard for a long time.

What makes the bet sensible is that the numbers are totally f'd up, and several independent sources report levels of short interest surpassing not only GME's float, but even its whole market capitalization. If half of this is true, there'll be blood when they scramble to cover. And they will. They're already bleeding from daily interest and have tried to suppress the price for over a week. Maybe the SEC will start sniffing around now that the thing is out in the news and several reps have written asking for investigations.

The only question is: will the redditor apes manage to hold the stock while the price is so volatile, or will they give in and be content with just a paltry profit? In other words: the outcome, as in our favorite formerly asymmetrical bet, depends on the strength of the hands that hold.

Notice I reserve the alternative spelling of "hold" to the other asset  

I have bought 2 stocks and received the cert (late 90s).

There was a website called 1stock (or something) where you could buy a single stock and they would send you the certificate. It was a complete gimmick as I paid $100 for a $45 McDonalds stock. I bought one for my nephew for his birthday, it included something for kids to learn about stocks. By owning that share he received a yearly stock report in the mail as well as usually some sort of coupon or something for something free at McDonalds.

I think the process changed and you could no longer get the cert anymore so the site is gone and last I checked the state had some money in his name for him to retrieve. I assume it has something to do with that one share.

What's the point of the stock market at this point?

Crypto exchange OKEx to add support for Bitcoin's Lightning Network.