Without government intervention, this one Gamestop stock could topple the world economy. The losses are unlimited since there aren't enough shares in existence to cover the short and most of the people holding the shares aren't selling anyway. The shorts are actually increasing now as the price goes higher.
If the government does step in, it will just add fuel to the fire for the next stock they target (or silver).
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 6228. (Read 26710142 times)
January 28, 2021, 09:58:13 AM
January 28, 2021, 09:53:04 AM
January 28, 2021, 09:51:12 AM
GME hitting 430 in in before hours trading. A sight to see indeed, I wonder if it becomes a 100 billion dollar company.
If these gamblers are pissed at wall street and all the games they play, what ever profits they get they should plow into Bitcoin. that would be another fuck you.
Edit: 450
Edit2: Blown away by these shorts apparently GME is still 140% short, this thing could go to 10,000 if the run keeps going https://www.zerohedge.com/markets/we-have-some-bad-news-gamestop-shorts
If these gamblers are pissed at wall street and all the games they play, what ever profits they get they should plow into Bitcoin. that would be another fuck you.
Edit: 450
Edit2: Blown away by these shorts apparently GME is still 140% short, this thing could go to 10,000 if the run keeps going https://www.zerohedge.com/markets/we-have-some-bad-news-gamestop-shorts
European eToro has even stopped trading GME until NYSE opens, those fucks.
I think everywhere is going to block retail on this. Those shorts haven't even been covered yet according to ZH article. This thing could bring down a lot of people.
I mean the shorters haven't exited their postions yet. Which means a short squeeze hasn't happened yet.
Shorters can only exit their position by buying the same number of shares they have shorted. When this happens it will add to the buying demand even more. I'm shocked that there has been no covering yet, these shorters are sitting on billions of dollars of losses.
Maybe they're sitting on ever-increasing potential losses while waiting for Amazon, Apple and Google to shut down Robinhood. I believe Robinhood relies on AWS + App store/Play store for dist.
Also, it would be no surprise to anyone if big gov't bailed out big finance at the expense of little guy... again.
January 28, 2021, 09:46:32 AM
ETH? Wrong Thread
Not really because ETH here just meant Crypro currencies in general. Although i am not a big fan of altcoins but I think Ethereum (along with bitcoin) has a big role when it comes to the mass adoption of cryto currencies.
Sorry, was more of a joke
don't take that to serious 
January 28, 2021, 09:43:04 AM
Robinhood is no longer supporting purchases of new shares of $GME $AMC $BBBY $NOK on their platform.
DeleteRobinhood. Game on.
Are they supporting Bitcoin to purchase ? DeleteRobinhood. Game on.
January 28, 2021, 09:42:06 AM
ETH? Wrong Thread
Not really because ETH here just meant crypto currencies in general. Although i am not a big fan of altcoins but I think Ethereum (along with bitcoin) has a big role when it comes to the mass adoption of crypto currencies.
January 28, 2021, 09:39:03 AM
Robinhood is no longer supporting purchases of new shares of $GME $AMC $BBBY $NOK on their platform.
DeleteRobinhood. Game on.
DeleteRobinhood. Game on.
January 28, 2021, 09:22:51 AM
January 28, 2021, 09:21:16 AM
January 28, 2021, 09:08:06 AM
the real estate that I maybe wanted to buy is reserved by another person ... so I have no selling pressure any more... The BTC is free to rise
January 28, 2021, 08:58:21 AM
So, I am not going to proclaim any kind of support is solid - until maybe we are much above such support including that it is seeming quite likely that 4 digits are a thing of the past.. but $20k and sub $20k might seem difficult to reach but we could not proclaim sub $20k to be impossible to reach... now could we?
Well we could ... but we won't ... yet!
Likewise, I need us to consolidate above $40k.
That said, you are comparing very different quarters.
A quarter in a bear market vs a quarter in a bull market. A quarter before the halving vs a quarter after the halving.
Every day that goes by, $20k becomes less likely to visit ever again.
As for $10k, that's only a nocoiner's wet dream.
January 28, 2021, 08:44:29 AM
If it is about naked short selling, I hope this little farce will bring the much deserved scrutiny on the practice of mass naked short selling.
January 28, 2021, 08:43:22 AM
I also applaud those guys who stuck it to the man with those Gamestop stocks. Also shows you the power of decentralized organizing, in a way.
Totally hypocritical that regulatory institutions "are looking into" what happened, meaning looking into how they can take this decentralized power away. If you don't like stock price manipulation then there are other things you'd have to look at. But of course, they do not mind the manipulation per se, ony they want to control who's doing it - their fellow capitalists.
Totally hypocritical that regulatory institutions "are looking into" what happened, meaning looking into how they can take this decentralized power away. If you don't like stock price manipulation then there are other things you'd have to look at. But of course, they do not mind the manipulation per se, ony they want to control who's doing it - their fellow capitalists.
January 28, 2021, 08:38:24 AM
HODLing $GME, $AMC, $NOK, $NAKD. Likely dumping it all Monday.
What fun. /r/wallstreetbets are sorta like us, just A LOT zanier. And way more degenerate.
It's impressive, really.
What fun. /r/wallstreetbets are sorta like us, just A LOT zanier. And way more degenerate.
It's impressive, really.
Today I learned
za·ny (zā′nē)
adj. za·ni·er, za·ni·est
Comical or ludicrous because of incongruity or strangeness.
n. pl. za·nies
1. A comical person given to extravagant or outlandish behavior.
2. A ludicrous, buffoonish character in old comedies who attempts feebly to mimic the tricks of the clown.
[French zani, from Italian dialectal zanni, from Zanni, variant of Italian Gianni, nickname for Giovanni, John, the name of servants who act as clowns in commedia dell'arte.]
January 28, 2021, 08:26:09 AM
HODLing $GME, $AMC, $NOK, $NAKD. Likely dumping it all Monday.
What fun. /r/wallstreetbets are sorta like us, just A LOT zanier. And way more degenerate.
It's impressive, really.
What fun. /r/wallstreetbets are sorta like us, just A LOT zanier. And way more degenerate.
It's impressive, really.
January 28, 2021, 08:15:14 AM
I'm not trading stonks, but I applaud the guys over at r/wallstreetbets. They have my full support, I hope Melvin Capital goes bankrupt.
This has been a wild ride and I'm all for it. u/DeepFuckingValue has a ~1000x profit now, as he had invested around $53K into GME and held onto it and its almost ~$50M now.
January 28, 2021, 08:15:09 AM
Quote
Violent Short Squeeze
Eric King: “Chris, I just calculated the last 4 trading days in GameStop (GME) in dollar terms and it totals $82.3 billion. I think annual silver production is roughly 1 billion ounces and at current prices that would total about $25 billion. That means yesterday’s trading volume in GameStop of $29.9 billion would have purchased more than the entire annual silver mine production! And the last 4 trading days in GameStop ($82.3 billion in dollar terms) would have purchased more than a staggering 3-times the entire annual global silver mine production! This type of buying would obviously create one hell of a violent short squeeze in the silver market.”
https://kingworldnews.com/reddit-silver-shocker-reddit-traders-now-targeting-silver-gamestop-traded-82-3-billion/ Eric King: “Chris, I just calculated the last 4 trading days in GameStop (GME) in dollar terms and it totals $82.3 billion. I think annual silver production is roughly 1 billion ounces and at current prices that would total about $25 billion. That means yesterday’s trading volume in GameStop of $29.9 billion would have purchased more than the entire annual silver mine production! And the last 4 trading days in GameStop ($82.3 billion in dollar terms) would have purchased more than a staggering 3-times the entire annual global silver mine production! This type of buying would obviously create one hell of a violent short squeeze in the silver market.”
January 28, 2021, 08:03:28 AM
I'm not trading stonks, but I applaud the guys over at r/wallstreetbets. They have my full support, I hope Melvin Capital goes bankrupt.
More blood will be shed Krubster, relax and enjoy the show.
January 28, 2021, 07:53:33 AM
The claim is the closed out and got bailed out
https://cryptobriefing.com/melvin-capital-closes-short-tokenized-gme-volatile-ftx/
https://cryptobriefing.com/melvin-capital-closes-short-tokenized-gme-volatile-ftx/
A quote from that article
Quote
Earlier this morning, CNBC broke the news that Melvin Capital had closed its short position on GME, suffering substantial losses.
This week, it was announced that the firm would receive a bailout to the tune of $2.75 billion from Citadel and Point72 in response to the market action affecting GameStop stocks.
This week, it was announced that the firm would receive a bailout to the tune of $2.75 billion from Citadel and Point72 in response to the market action affecting GameStop stocks.
Good enough for me.
*edit: Another quote from that article worth mentioning
Quote
Galaxy Digital founder Mike Novogratz also took to Twitter to discuss the events today, stating that the short squeeze was “a giant endorsement of DeFi.”
January 28, 2021, 07:52:00 AM
I think this the reason crypto Market is in Red zone. Joe Biden Administration doesn't seem friendly toward cryptos.
https://www.fool.com/investing/2021/01/26/president-bidens-financial-team-will-clarify-bitco/
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