Gamestop & now Blackberry

cam_blev

Senior
Oct 7, 2005
6,458
680
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Elon Musk isn’t the richest man in the world. And what’s the significance of that tweet?
Well he was on Jan 7th I know its an everchanging thing.
That first is a Bitcoin transaction on the block chain. In it there was an encrypted message that he also posted on his Twitter. He also added #Bitcoin to his bio.
Basically saying that Bitcoin was always inevitable because the financial system is corrupt in a way that is impossible with Bitcoin.
 

NYC_Eer

Redshirt
Aug 22, 2010
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Umm, duh.

Literally everyone knows that....not what this is about.
Well said. Of course it is. The actual financial stability of a company should always matter...otherwise its anarchy and good luck betting on stocks when literally everything is unpredictable.
 

NYC_Eer

Redshirt
Aug 22, 2010
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Well he was on Jan 7th I know its an everchanging thing.
That first is a Bitcoin transaction on the block chain. In it there was an encrypted message that he also posted on his Twitter. He also added #Bitcoin to his bio.
Basically saying that Bitcoin was always inevitable because the financial system is corrupt in a way that is impossible with Bitcoin.
I don't agree w/ that. Part of the issue with Bitcoin is that you have a select few people who own a ton of it and can affect the market. Anywhere you can make money, people will find a way to exploit that. I'm not saying Bitcoin isn't a good investment or here to stay. But to say that Bitcoin can't be manipulated is more than a little naive.

I think what you've see this week with the GameStop stuff is that all stocks, etc can be manipulated...by the big guy, the little guy, whoever and there will always be stock manipulation as long as there are stocks.
 

cam_blev

Senior
Oct 7, 2005
6,458
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I don't agree w/ that. Part of the issue with Bitcoin is that you have a select few people who own a ton of it and can affect the market. Anywhere you can make money, people will find a way to exploit that. I'm not saying Bitcoin isn't a good investment or here to stay. But to say that Bitcoin can't be manipulated is more than a little naive.

I think what you've see this week with the GameStop stuff is that all stocks, etc can be manipulated...by the big guy, the little guy, whoever and there will always be stock manipulation as long as there are stocks.
I didn't say that it cant be manipulated but it is not rigged. It's completely open source. No one gets special privileges or buttons or gets to trade while other can't. Its a free market.

When the game is rigged against people they will eventually flip the board and go play in the free market.
 

SoCo

Senior
May 29, 2001
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The system is designed with our best interests in mind. The problem is, the elected officials no longer have our best interests in mind. They have theirs. They need voted out.
But that is the problem. The election system is rigged to keep the 2 parties in power. All elections do is replace 1 corrupt self-serving, party-first politician with another. Voting is absolutely pointless.

Trump was an outsider and the corrupt politicians **** their pants when he was elected. Both parties fought with him from day 1 and one of the parties, aided by the FBI, spent 4 years doing everything they could (illegal and legal) to remove him from power.
 

Darth_VadEER

All-Conference
Dec 14, 2010
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Well said. Of course it is. The actual financial stability of a company should always matter...otherwise its anarchy and good luck betting on stocks when literally everything is unpredictable.

Occupy Wallstreet!

Nevermind, let's protect wallstreet!
 

NYC_Eer

Redshirt
Aug 22, 2010
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I didn't say that it cant be manipulated but it is not rigged. It's completely open source. No one gets special privileges or buttons or gets to trade while other can't. Its a free market.

When the game is rigged against people they will eventually flip the board and go play in the free market.
I guess its based on your definition of rigged. If there are a few early Bitcoin investors that work together to manipulate the price when the average person doesn't have access to that same information...I call that rigged. At the end of the day whether you call it rigged or not the end result is that an individual investor that doesn't have access to that information can get royally screwed if they are on the wrong side of the manipulation...whether that is 10 guys that invested early in Bitcoin or some big NYC hedgefund you've still lost your money. Does it really matter how that happens?
 

NYC_Eer

Redshirt
Aug 22, 2010
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Occupy Wallstreet!

Nevermind, let's protect wallstreet!
You don't get it. First, I was never on board with Occupy Wall Street. I'm not a socialist or communist or whatever Trump-ism you want to use for it. So, that isn't relevant to the conversation.

Second, I am no advocating for Wall Street. I could care less if some Billionaire loses a couple of hundred million.

What I'm saying is this GameStop thing is not going to change anything. People think its is going to break the system until it needs to be reformed. Nope. Nothing will change. There is nothing to see here. Its a nice little news story for the little guy...although most of them probably ended up losing their shirts yesterday...but that is about it.
 

NYC_Eer

Redshirt
Aug 22, 2010
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But that is the problem. The election system is rigged to keep the 2 parties in power. All elections do is replace 1 corrupt self-serving, party-first politician with another. Voting is absolutely pointless.

Trump was an outsider and the corrupt politicians **** their pants when he was elected. Both parties fought with him from day 1 and one of the parties, aided by the FBI, spent 4 years doing everything they could (illegal and legal) to remove him from power.
You're right. Trump was the messiah. Too bad he can't win an election.
 

Darth_VadEER

All-Conference
Dec 14, 2010
23,025
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You don't get it. First, I was never on board with Occupy Wall Street. I'm not a socialist or communist or whatever Trump-ism you want to use for it. So, that isn't relevant to the conversation.

Second, I am no advocating for Wall Street. I could care less if some Billionaire loses a couple of hundred million.

What I'm saying is this GameStop thing is not going to change anything. People think its is going to break the system until it needs to be reformed. Nope. Nothing will change. There is nothing to see here. Its a nice little news story for the little guy...although most of them probably ended up losing their shirts yesterday...but that is about it.

I never assumed it would change anything, besides maybe Biden administration moving in to protect the big guys...which may have happened.

I'm just happy for the regular folks who made money...of course CNN is already comparing them to 4chan and calling them radical extremists.
 

TarHeelEer

Freshman
Dec 15, 2002
89,304
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Well said. Of course it is. The actual financial stability of a company should always matter...otherwise its anarchy and good luck betting on stocks when literally everything is unpredictable.

It's not anarchy, you just don't understand it.

Wall Street had shorts of up to 140% of stock available for Gamestop. For the liberals out there, this meant that Wall Street had to cover to purchase 40% of stock than had actually been issued. They got caught with their britches down, and the commoners outsmarted the big money guys.

My investment from two days ago is up 10%. It will go higher as those shorts get called.
 

NYC_Eer

Redshirt
Aug 22, 2010
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It's not anarchy, you just don't understand it.

Wall Street had shorts of up to 140% of stock available for Gamestop. For the liberals out there, this meant that Wall Street had to cover to purchase 40% of stock than had actually been issued. They got caught with their britches down, and the commoners outsmarted the big money guys.

My investment from two days ago is up 10%. It will go higher as those shorts get called.
LOL. I don't get it. OK. You must have made millions in the market this year.
 

dave

Senior
May 29, 2001
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It's not anarchy, you just don't understand it.

Wall Street had shorts of up to 140% of stock available for Gamestop. For the liberals out there, this meant that Wall Street had to cover to purchase 40% of stock than had actually been issued. They got caught with their britches down, and the commoners outsmarted the big money guys.

My investment from two days ago is up 10%. It will go higher as those shorts get called.
When he doesnt understand things he calls it names and blames Trump.

Everyone else is just laughing at the dumb guy
 

NYC_Eer

Redshirt
Aug 22, 2010
10,631
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I never assumed it would change anything, besides maybe Biden administration moving in to protect the big guys...which may have happened.

I'm just happy for the regular folks who made money...of course CNN is already comparing them to 4chan and calling them radical extremists.
Maybe they did, and that would be wrong. Its more likely that Robinhood didn't have enough access to capital to continue allowing trading of that magnitude. There are regulations they have to follow.
 

dave

Senior
May 29, 2001
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LOL. I don't get it. OK. You must have made millions in the market this year.
From your comments it is abundantly clear you dont get it. Doesn't matter how much anyone made in the market.
 

TarHeelEer

Freshman
Dec 15, 2002
89,304
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I don’t get the fascination with GameStop. Doesn’t seem the financials are solid. I haven’t bought a physical game in years. Maybe they pivot to online, but it’s certainly not a sure enough thing for the stock to go 5x. So, pumping the stock is just a Anarchy play. I don’t think anyone would be happy with a completely unreliable stock market run by anarchists more so than what’s going on now. Then the whole stock market would be like Bitcoin.
you can peddle your you don't understand BS elsewhere.

These two statements don't jive.
 

TarHeelEer

Freshman
Dec 15, 2002
89,304
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@NYC_Eer read up on the Piggly Wiggly short story from the early 1900's. The difference between then and now is that you can't go find grandma holding a thousand shares in the middle of nowhere. Everyone is holding.
 

cam_blev

Senior
Oct 7, 2005
6,458
680
113
I guess its based on your definition of rigged. If there are a few early Bitcoin investors that work together to manipulate the price when the average person doesn't have access to that same information...I call that rigged. At the end of the day whether you call it rigged or not the end result is that an individual investor that doesn't have access to that information can get royally screwed if they are on the wrong side of the manipulation...whether that is 10 guys that invested early in Bitcoin or some big NYC hedgefund you've still lost your money. Does it really matter how that happens?
YES!!!! If it happens protected by the US Government or if it happens on the open market where if you risk capital it can be lost and your *** cant be saved.
 

DvlDog4WVU

All-Conference
Feb 2, 2008
47,230
3,298
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Well he was on Jan 7th I know its an everchanging thing.
That first is a Bitcoin transaction on the block chain. In it there was an encrypted message that he also posted on his Twitter. He also added #Bitcoin to his bio.
Basically saying that Bitcoin was always inevitable because the financial system is corrupt in a way that is impossible with Bitcoin.
Interesting. I thought Bezos had it by a long shot. And, interesting that Musk is so hard over on Bitcoin.
 

NYC_Eer

Redshirt
Aug 22, 2010
10,631
48
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He won more Presidential elections that every American alive but 4.

Keep your head in the sand.
Very selective way to use #s. He's won more Presidential elections than anyone that hasn't actually won the popular vote. He is the only President to not win a popular vote ever. There are a lot of first and onlys he's responsible for.
 

SoCo

Senior
May 29, 2001
35,837
522
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Very selective way to use #s. He's won more Presidential elections than anyone that hasn't actually won the popular vote. He is the only President to not win a popular vote ever. There are a lot of first and onlys he's responsible for.
Nice spin. LOL!

#notmypresident .......
 

WVUCOOPER

Redshirt
Dec 10, 2002
55,556
40
31
It's not anarchy, you just don't understand it.

Wall Street had shorts of up to 140% of stock available for Gamestop. For the liberals out there, this meant that Wall Street had to cover to purchase 40% of stock than had actually been issued. They got caught with their britches down, and the commoners outsmarted the big money guys.

My investment from two days ago is up 10%. It will go higher as those shorts get called.
You, and others, keep saying Wall Street as if this was a giant FU to Wall Street. It wasn't. It was a giant FU to certain short hedgies, But BlackRock, etc made a killing off these squeezes too.
 
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TarHeelEer

Freshman
Dec 15, 2002
89,304
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You, and others. keep saying Wall Street as if this was a giant FU to Wall Street. It wasn't. It was a giant FU to certain short hedgies, But BlackRock, etc made a killing off these squeezes too.

True, I was being too general.
 

dave

Senior
May 29, 2001
60,601
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It's not just you, it's all of us. This does not take away a single ounce of the massive entertainment to be had at the expense of the shorters here.
The shorters losing their butts. The overreaction from the media. The overreaction to the overreaction.

Its all entertaining.
 

SKYHAWKBALL

Redshirt
Oct 28, 2005
10,508
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NYCeer acting like he’s a millionaire in a thread about stocks.. Dude probably drives for Uber. 😂😂😂😂