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DaveSauce posted:Joke's on them, when they go to sell their shares they'll only be worth about 20% of market value (25% if you take store credit). edit: shameful snipe, anyway I've been hearing lately about big rushes to invest in the wrong company due to naming confusion and wondered if this might be related
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Jan 15, 2021 00:37
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I actually had to google it and while there's still debate, their holiday performance looked good. IIRC sales were up 5%, and e-commerce was up like 300%. Also they added (replaced?) board members. So it's not like there's NO reason. But I suspect it's a lot like any popular thing. Stock X goes up, kinda unexpectedly but for some real reason, and everyone bandwagons on and sends the price skyward, which hits the news cycle and causes draws in even more people who think they can make a quick buck. I'm sure it'll crash soon enough. but then again, this is the reason I don't play in the stock market. I know absolutely nothing and would probably lose money on the world's safest bet.
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Jan 15, 2021 00:59
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Magnetic North posted:I did not recognize that ticker symbol, but it's loving Gamestop?? Just looked at like 5 news stories about the 500% rise in stock price over the last day or two and I do not get in any universe what the gently caress people are on about. So apparently somebody on r/wallstreetbets bought a shitload of gamestop calls a year ago for 1/15/21 at $20 and 4/16/21 for $12. At the time GME was trading at like $4, so these were waaaayyy out of the money. GME went up in value over the year so this guy's $12 calls looked like they would hit but the $20 calls would expire worthless. Over the last week there was a colossal short squeeze, launching the price from < $20 to > $40 after hours today. The wallstreetbets subreddit turned this guy into a meme over the past year and are claiming to have engineered the short squeeze by posting over and over again about how rich everyone would get if they bought GME. At this point it's being framed as a collection of retail investors vs. the institutional money shorting the piss out of gamestop. At the end of today this guy had turned his ridiculous small six figure bet into over seven million dollars. Wallstreetbets is hooting and hollering about how they've made him a king. This brings us to my friend, who saw all this and decided that this morning would be a good time to shove his retirement account into GME, and that after the huge runup was the time to buy short-dated calls. I think his calls have doubled since he bought them
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Jan 15, 2021 01:14
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DaveSauce posted:I actually had to google it and while there's still debate, their holiday performance looked good. IIRC sales were up 5%, and e-commerce was up like 300%. Also they added (replaced?) board members. My friend bought me a gift card from them instead of Amazon for my birthday. I assume that's responsible for a good chunk of that revenue.
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Jan 15, 2021 01:16
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Asleep Style posted:So apparently somebody on r/wallstreetbets bought a shitload of gamestop calls a year ago for 1/15/21 at $20 and 4/16/21 for $12. At the time GME was trading at like $4, so these were waaaayyy out of the money. I read some of that, but I dismissed it as reddit pretending that they actually have influence over anyone who isn't an incel. I have half a mind to short it. I'd think in a week or two you could make a fortune once all the heat dies down and everyone bails. But I know that since I think it's a good idea then it's most definitely a bad idea.
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Jan 15, 2021 01:23
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Well, you can use GameStop as a bank, so that's probably why its value is rising so quickly.quote:Does anyone else use Gamestop as a bank?
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Jan 15, 2021 01:59
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Haha that's both sad and awesome.
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Jan 15, 2021 02:41
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you know the bwm thread is getting good when the tone shifts to "ha ha that's awful.... but maybe..."
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Jan 15, 2021 02:49
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Like if I hypothetically woke up one day in another body and locked out of the banking system or something it could be a good nugget to hold onto.
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Jan 15, 2021 02:57
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Stupid buttcoin question: The people processing the transactions are rewarded with new coins right? So when the limit hits how do they get paid? Or does no one process transactions anymore?
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Jan 15, 2021 03:38
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Guest2553 posted:Like if I hypothetically woke up one day in another body and locked out of the banking system or something it could be a good nugget to hold onto.
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Jan 15, 2021 03:54
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thekeeshman posted:Stupid buttcoin question: The people processing the transactions are rewarded with new coins right? So when the limit hits how do they get paid? Or does no one process transactions anymore? There is both a fee component and a new coin component. I believe fees are currently low or zero, but you'd expect them to increase drastically when coins can no longer be created by mining as miners got to get paid.
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Jan 15, 2021 04:06
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thekeeshman posted:Stupid buttcoin question: The people processing the transactions are rewarded with new coins right? So when the limit hits how do they get paid? Or does no one process transactions anymore? yeah the people wrecking the ozone layer and destroying graphics cards or w/e get a piece of new "blocks" when they're "mined", which is a finite number. They also get a small* amount of any transaction processed, which will continue even after all the coins are "mined". to "Solve" this "issue" (meaning, to make sure the miners don't take a cut) and also because, lol, bitcoin can only handle a few transactions per second, things like the "lightning network" have been invented, which is where you just pretend you're receiving and sending money and trust that the """"network"""" definitely has your butts if you want it. *it's like ten dollars now. can you imagine paying ten dollars in transaction fees to buy something
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Jan 15, 2021 04:09
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Spokes posted:it's like ten dollars now. can you imagine paying ten dollars in transaction fees to buy something Not a big wire transfer user, eh?
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Jan 15, 2021 04:15
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Guest2553 posted:Like if I hypothetically woke up one day in another body and locked out of the banking system or something it could be a good nugget to hold onto. That's about the only way that makes sense now that there are a bunch of free checking accounts that pay ATM fees.
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Jan 15, 2021 04:16
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gamestop banker has such a fury at regular banks/ATMs he's almost certainly sunk most of his money into crypto for the same reasons.
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Jan 15, 2021 04:46
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And if you have a checking account, there's no reason to ever use an ATM.
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Jan 15, 2021 04:54
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Dip Viscous posted:And if you have a checking account, there's no reason to ever use an ATM. Anyone who banks at gamestop isn't going to get debit cards.
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Jan 15, 2021 05:05
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Dip Viscous posted:And if you have a checking account, there's no reason to ever use an ATM. If you have a problem with your credit card, your credit card company has a problem; if you have a problem with your debit card, you have a problem.
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Jan 15, 2021 05:15
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Spokes posted:yeah the people wrecking the ozone layer and destroying graphics cards or w/e get a piece of new "blocks" when they're "mined", which is a finite number. They also get a small* amount of any transaction processed, which will continue even after all the coins are "mined". * Also only small if you don't get the 'fee' and 'amount' fields mixed up, as sometimes happens.
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Jan 15, 2021 05:39
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Thanatosian posted:There are many, many reasons to use an ATM. An ATM is the only place you should ever stick your debit card, in fact. Tell that to the Well Fargo rep who got college me signed up for a bank account and debit card that I was encouraged to use all through school. I used the card without issue, but I would much rather have spent those years building some sort of credit history while better protecting my bank account.
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Jan 15, 2021 06:18
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Democratic Pirate posted:Tell that to the Well Fargo rep who got college me signed up for a bank account and debit card that I was encouraged to use all through school. yeah but how cool was the frisbee/hat you got for free?
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Jan 15, 2021 06:21
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Fauxtool posted:yeah but how cool was the frisbee/hat you got for free? Someone I know from college signed up for a credit card at a baseball game to get the sign-up bonus. The sign-up bonus was a free concession drink and a visor.
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Jan 15, 2021 06:26
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Dip Viscous posted:And if you have a checking account, there's no reason to ever use an ATM. Is this assuming that you never use cash or that you only trust people at the bank to physically hand you all cash you're withdrawing
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Jan 15, 2021 06:33
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The former. I don't think I've touched paper money since I was like nine years old.
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Jan 15, 2021 06:54
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Bitcoin and cryptocurrency chat usually bores the hell out of me, but there was a poster whose coworker sold their truck a while back and accepted bitcoin, only to ignore it, then come back to find it was worth a ton of money. They were slowly turning it into USD. Who was that? Leon Trotsky?
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Jan 15, 2021 07:40
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Subjunctive posted:Not a big wire transfer user, eh? Last time I moved money by SWIFT it cost me nothing except waiting for the transfer to go through 🤷♀️
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Jan 15, 2021 08:04
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Involuntary Sparkle posted:Bitcoin and cryptocurrency chat usually bores the hell out of me, but there was a poster whose coworker sold their truck a while back and accepted bitcoin, only to ignore it, then come back to find it was worth a ton of money. They were slowly turning it into USD. Who was that? Leon Trotsky? I'm curious about this as well. I thought they were trying to make it into money through a bank?
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Jan 15, 2021 08:49
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Boiled Water posted:Last time I moved money by SWIFT it cost me nothing except waiting for the transfer to go through 🤷♀️ Jealous!
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Jan 15, 2021 10:18
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Dip Viscous posted:The former. I don't think I've touched paper money since I was like nine years old. Congrats on either: (a) your recent 10th birthday, or (b) staying away from drugs. Or both, I guess.
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Jan 15, 2021 12:16
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Involuntary Sparkle posted:Bitcoin and cryptocurrency chat usually bores the hell out of me, but there was a poster whose coworker sold their truck a while back and accepted bitcoin, only to ignore it, then come back to find it was worth a ton of money. They were slowly turning it into USD. Who was that? Leon Trotsky? Not one of my coworkers. I vaguely remember the story you're talking about, but I can't remember who posted it.
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Jan 15, 2021 14:56
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Bitcoin: Newport man's plea to find £210m hard drive in tipquote:A man who threw away a laptop hard drive containing bitcoin he believes is now worth about £210m wants his council to let him search for it in landfill. Choice quote: quote:James Howells says he wishes he had never thrown away the hard drive
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Jan 15, 2021 15:02
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This guy pops up in the news every time the buttcoins go up in price. Is a hard drive that's been dumped in a tip for 6+ years going to even work if they manage to retrieve it?
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Jan 15, 2021 15:43
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ellspurs posted:This guy pops up in the news every time the buttcoins go up in price. I can't imagine anything with platters would likely have survived, but if it was a solid state drive, maybe?
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Jan 15, 2021 15:58
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ellspurs posted:This guy pops up in the news every time the buttcoins go up in price. If it's still sealed it's entirely possible that the data can be recovered. But we're talking clean room, new electronics, etc....like expensive data recovery. If it's ever found (lol) I'm sure he'll get about $8k into that only to find out he doesn't actually remember the password he used.
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Jan 15, 2021 15:59
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ellspurs posted:This guy pops up in the news every time the buttcoins go up in price. Absolutely not. And it’s probably not even in there, if the landfills in the UK operate anything like the ones in Canada: over here, it'd be dragged out of the dumpster and put in the e-waste bin, and sent off to be recycled as such when the bin got full. In the meantime, it would sit out, exposed to the elements.
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Jan 15, 2021 16:04
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tinytort posted:Absolutely not. And it’s probably not even in there, if the landfills in the UK operate anything like the ones in Canada: over here, it'd be dragged out of the dumpster and put in the e-waste bin, and sent off to be recycled as such when the bin got full. In the meantime, it would sit out, exposed to the elements. The bigger risk of recovery here in Canada would be fending off the dump bears and dump bees to get at the drive.
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Jan 15, 2021 16:13
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Less Fat Luke posted:The bigger risk of recovery here in Canada would be fending off the dump bears and dump bees to get at the drive. I google image searched dump bears and it was good https://www.google.com/search?q=dump+bears
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Jan 15, 2021 16:43
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Yeah those motherfuckers are no joke
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Jan 15, 2021 17:22
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Dump... bees?!
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Jan 15, 2021 22:29
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