5 ms·

> This has also been a big topic on r/wallstreetbets where users have organized around squeezing the shorts today. I’ve been following with mild interest. May

> This has also been a big topic on r/wallstreetbets where users have organized around squeezing the shorts today. I’ve been following with mild interest. Maybe I've been in Bitcoin for too long, but 2.5 to 44 is cause for this much attention? I guess I'm immune to that level of volatility these days. I mean I get the amount of security's fraud and agencies like the SEC just waiting to justify their inflated salaries and budgets... but with the level of fraud in the stock market and banks this is likely what they would focus on as it they probably don't have massive lobbiysists in Washington paying for them to shape legislation to match their grift. I've seen several Gamestops shut down and have going out of business sales for current inventory with long lines, I'm sure that would add to their liquidity situation in the short term if it was done at scale for recovering investments on outdated/old merchanidise. And given that people are less than prudent with their finances and stimulus checks/uncemployment and with so many people with nothing but time on their hands this growth due to lockdowns and massive unemployment isn't actually a realistic turn around after the initial crash in March? Wallstreetbets is always good for a laugh, and not always a healthy one; the place reminds you why a guy like Trump could be elected and gives actual credence to how the following adage holds true: Repeat a lie often enough and it becomes the truth. Those guys are like the epitome of of the 'grater fool' business model for the low hanging fruit on the Internet that after spending a few minutes there you just start to feel bad for what the state of Humanity is. Tendies and cuck jokes aside, it's actually really telling what some people 'with money' are like when they're given a slight amount of Pseudonymity and are in great enough numbers. Kind of makes Jordan Belfort's stories (Wolf of Wallstreet) all the more poignant.

ocbyc 6y ago
Is BTC still in the mid 30k? 2.5->44 is much better return than 3.5k -> 42k. I guess I've been trading GME too long for btc's volatility to phase me.
- Melting_Harps 6y ago
  Yes, but I've been in it since 2011. Your humble brag doesn't apply to me. My point being that this doesn't warrant the attention its getting when you see the bigger picture of outright fraud, and agencies should look into bank fraud and money laundering and stock manipulation of things like large pharmaceutical corps that have made billions from a litany of scams along the years, Moderna administration in CA already had to be halted due to patient complications. How many Corps have made out like bandits from bailouts and crushing the competition with perpetual lock downs and doing shady trade deals with politicians? I'm so over this, that the paper wealth pales in comparison to the asset inflation we're all seeing with no real benefit other than more billionaire wealth accumulation. PS: I don't trade, I'm accumulating in order to exit this insane system.
  - echelon 6y ago
    > Your humble brag doesn't apply to me. That wasn't a humble brag, it was a counter to your less than charitable characterization of GME stock behavior. If anything, you're bragging.
  - skinnymuch 6y ago
    Your Bitcoin stance doesn’t make much sense. It’s over long periods of time. This GME is over a short period of time. You appear to be bragging hard. Whether or not you intended that. The other person isn’t.
    - Melting_Harps 6y ago
      > If anything, you're bragging. > You appear to be bragging hard. I'm saying their are far more corrupt things that are being sanctioned (ignored) by the regulators in the stock/securities market but you people hyper focus on the low hanging fruit (gamestop) while the public purse/currency is being fleeced by Trillions by corporations with every bailout/stimulus package and you think you're smarter than everyone else and I'm the one bragging? Despite your 'profit' being denominated in ever worthless fiat. In the time that I wrote that Black Rock, the creators of the fucking Aladdin prediction computer/system that likely kicked this entire surveillance/data mining business model into high gear, got into Bitcoin and declared their intentions to create a futures model to the SEC. I guess I excepted more from tech people by this time when it comes to what Bitcoin really is, but then the adage of Humans (fools) and their folly holds true, I suppose.
      - skinnymuch 6y ago
        The topic is GameStop. Life can’t be spent on your agenda principles 100% of the time. Who thinks they’re smarter than everyone else? Am I “they”? I don’t understand this. Writing things like “your ‘profit’” is condescending by the way. I can’t change the world. I’m not a rich man. The couple of grand I’ve made this week from GameStop and Blackberry has been nice for me personally.
vmception 6y ago
It's the options market man. Nobody cares about the shares. Options contracts are SUPER market inefficient, in that their pricing is tied to dollar moves stacking onto the "intrinsic value" part of their multivariable calculus formula no matter what percentage difference that really means, and do not take volume of the underlying asset into affect at all, even though that matters more to options traders than the purpose of the options contract itself: to accumulate shares.

ocbyc 6y ago

Is BTC still in the mid 30k? 2.5->44 is much better return than 3.5k -> 42k. I guess I've been trading GME too long for btc's volatility to phase me.

Melting_Harps 6y ago
Yes, but I've been in it since 2011. Your humble brag doesn't apply to me. My point being that this doesn't warrant the attention its getting when you see the bigger picture of outright fraud, and agencies should look into bank fraud and money laundering and stock manipulation of things like large pharmaceutical corps that have made billions from a litany of scams along the years, Moderna administration in CA already had to be halted due to patient complications. How many Corps have made out like bandits from bailouts and crushing the competition with perpetual lock downs and doing shady trade deals with politicians? I'm so over this, that the paper wealth pales in comparison to the asset inflation we're all seeing with no real benefit other than more billionaire wealth accumulation. PS: I don't trade, I'm accumulating in order to exit this insane system.
- echelon 6y ago
  > Your humble brag doesn't apply to me. That wasn't a humble brag, it was a counter to your less than charitable characterization of GME stock behavior. If anything, you're bragging.
- skinnymuch 6y ago
  Your Bitcoin stance doesn’t make much sense. It’s over long periods of time. This GME is over a short period of time. You appear to be bragging hard. Whether or not you intended that. The other person isn’t.
  - Melting_Harps 6y ago
    > If anything, you're bragging. > You appear to be bragging hard. I'm saying their are far more corrupt things that are being sanctioned (ignored) by the regulators in the stock/securities market but you people hyper focus on the low hanging fruit (gamestop) while the public purse/currency is being fleeced by Trillions by corporations with every bailout/stimulus package and you think you're smarter than everyone else and I'm the one bragging? Despite your 'profit' being denominated in ever worthless fiat. In the time that I wrote that Black Rock, the creators of the fucking Aladdin prediction computer/system that likely kicked this entire surveillance/data mining business model into high gear, got into Bitcoin and declared their intentions to create a futures model to the SEC. I guess I excepted more from tech people by this time when it comes to what Bitcoin really is, but then the adage of Humans (fools) and their folly holds true, I suppose.
    - skinnymuch 6y ago
      The topic is GameStop. Life can’t be spent on your agenda principles 100% of the time. Who thinks they’re smarter than everyone else? Am I “they”? I don’t understand this. Writing things like “your ‘profit’” is condescending by the way. I can’t change the world. I’m not a rich man. The couple of grand I’ve made this week from GameStop and Blackberry has been nice for me personally.

vmception 6y ago

It's the options market man. Nobody cares about the shares. Options contracts are SUPER market inefficient, in that their pricing is tied to dollar moves stacking onto the "intrinsic value" part of their multivariable calculus formula no matter what percentage difference that really means, and do not take volume of the underlying asset into affect at all, even though that matters more to options traders than the purpose of the options contract itself: to accumulate shares.