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Nonsense
Jan 26, 2007

doge pls crash back to .24 cents pls pls

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Smythe
Oct 12, 2003
the coin will rise

Smythe
Oct 12, 2003
all according to keikaku

Often Abbreviated
Dec 19, 2017

1st Severia Tank Brigade
"Ghosts of Honcharivske"

Sarsapariller posted:

Hey can somebody explain to me what the gently caress is up with /r/superstonk and /r/gme, I stopped paying attention in March when the stocks stopped being hilarious and back then they were all saying "Shorts will cover any day now, to the moon" and so on. I just popped back over there after 2 more months of steady decline and now they're ranting about how everything is hedge fund conspiracies and the minimum floor for GME is 10 million per stock? What the gently caress? They just removed a mod yesterday for saying that nobody can really know what the ceiling will actually be- the mob decided that the "Hedgies had gotten to him?"

I have trouble believing like 200k people can descend into conspiracy gambling QAnon madness over two months of holding stock in a slowly declining lovely video game retail company but here we are. Is there more to it? Is it some kind of ironic performance art?

I asked a friend of mine about this and the belief seems to be that the hedge funds (and in turn the banks and exchanges that provide them credit and liquidity) are still way, way exposed on shorting GME. Something to do with "synthetic shares". If the Redditors can hold and prop the price up long enough then the hedgies won't be able to kick the can down the road anymore and this will trigger the Mother of All Shorts. This will happen because the hedgies will need to buy enormous amounts of GME shares to make good on all the shorting, but the Redditors will hold firm and refuse to sell, so the price will go up and up and up to the unironic 20 million per share, devastating all the hedgies and revealing all the corruption and double-dealing at the heart of the financial industry.

I said that sounded wild and asked how they know that the hedges and institutions didn't unwind their positions a couple of months back when this all fell out. He said they don't.

Sarsapariller
Aug 14, 2015

Occasional vampire queen

If the hedge funds can hold out for 4 months they can hold out forever, but they're not holding out because they literally illegally stopped trading on the stock in order to get out of their positions.

If they are over a barrel they'll just loving cheat, that's what makes this whole delusion so insane and stupid. They already did that and there were no consequences. The fact that you, a random retail investor, are allowed to buy and hold GME or whatever stock right now means they aren't threatened by you doing that.

People loving locked onto the tail end of these assholes, watched them noclip through the goddamn wall to get out of it, and months later they're still going "I have you now!"

Nonsense
Jan 26, 2007

skipped town

ram dass in hell
Dec 29, 2019



:420::toot::420:

Nonsense posted:

The PRC must be destroyed

im gonna stan xi forever i was on the verge before this but now im just a xi guy

ram dass in hell
Dec 29, 2019



:420::toot::420:

Smythe posted:

all according to keikaku

buy the dip o7

Sarsapariller
Aug 14, 2015

Occasional vampire queen



Hey look at that

ram dass in hell
Dec 29, 2019



:420::toot::420:

Sarsapariller posted:

Hey look at that

cia or mossad or the pipeline hackers or who, who did this hmbol

Yossarian-22
Oct 26, 2014

Has any scholarship been done on Western efforts to "disrupt" rival countries using blockchain/alternative currencies? I know Yasha Levine has done great work exposing how the "free" internet is used by the U.S. for counterinsurgency and whatnot

Rime
Nov 2, 2011

by Games Forum

Yossarian-22 posted:

Has any scholarship been done on Western efforts to "disrupt" rival countries using blockchain/alternative currencies? I know Yasha Levine has done great work exposing how the "free" internet is used by the U.S. for counterinsurgency and whatnot


Why would they bother, when thirst for the USD in developing nations serves the purpose of undermining the legitimacy of foreign currencies in their domestic markets and has for decades. The only economies being taken for a wild ride by this Crypto mania are western ones.

Yossarian-22
Oct 26, 2014

Rime posted:

Why would they bother, when thirst for the USD in developing nations serves the purpose of undermining the legitimacy of foreign currencies in their domestic markets and has for decades. The only economies being taken for a wild ride by this Crypto mania are western ones.

It would stand to reason then that Western economies would have better reason to halt crypto trading than China but that doesn't seem to be the case

Smythe
Oct 12, 2003

Sarsapariller posted:

Hey look at that

amazing lol

i say swears online
Mar 4, 2005

https://clips.twitch.tv/CaringBovineSardineDancingBanana-eOAtiSnC_h-q9dqi

this guy lost $900,000 playing virtual slot machines overnight

Judakel
Jul 29, 2004
Probation
Can't post for 9 years!
you knew it was going down the moment goons made a thread for it

Nonsense
Jan 26, 2007

he’s still a millionaire

Fame Douglas
Nov 20, 2013

by Fluffdaddy

Nonsense posted:

he’s still a millionaire

He has more money in his college account than you have in your entire family tree

ram dass in hell
Dec 29, 2019



:420::toot::420:

Judakel posted:

you knew it was going down the moment goons made a thread for it

That's what the cspam lathe of heaven is for, we did it lads we ruined crypto forever

Snake Dance
Jan 5, 2020

by Azathoth
So who lost the most?

CredulousAtBest
Oct 4, 2020
My name is CredulousAtBest. Glenn Greenwald constantly owning me has resulted in my prodromal schizophrenia, so please be polite when you deal with psychotic breaks and kindly nod to my unintelligible tripe.

Sarsapariller posted:

Hey look at that

lol i saw an alert about that and you just go " well WOW what are the chances that is nuts"

nomad2020
Jan 30, 2007

With any luck our resident whales got out, I want to hear stories if not. It's win/win.

Mr Hootington
Jul 24, 2008

I'M HAVING A HOOT EATING CORNETTE THE LONG WAY

nomad2020 posted:

With any luck our resident whales got out, I want to hear stories if not. It's win/win.

I hope they all lost money. :)

i say swears online
Mar 4, 2005

Mr Hootington posted:

I hope they all lost money. :)

Cloks
Feb 1, 2013

by Azathoth

Mr Hootington posted:

I hope they all lost money. :)

nomad2020
Jan 30, 2007

If it brings us more stories about meeting up with the professional bitcoin dealer at the mall parking lot after dark I'm game for whatever.

Nonsense
Jan 26, 2007

its sad there is only one video of extreme panic at the crash. and it was a "technical trader"

Homeless Friend
Jul 16, 2007
:abuela: It takes a coal mine.

Harry Potter on Ice
Nov 4, 2006


IF IM NOT BITCHING ABOUT HOW SHITTY MY LIFE IS, REPORT ME FOR MY ACCOUNT HAS BEEN HIJACKED

nomad2020 posted:

With any luck our resident whales got out, I want to hear stories if not. It's win/win.

Right? Sadly no one on SA made or lost a lot on bitcoin

Good Soldier Svejk
Jul 5, 2010

Harry Potter on Ice posted:

Right? Sadly no one on SA made or lost a lot on bitcoin

I guess watch for Jeffrey cutting costs/announcing a sale

Homeless Friend
Jul 16, 2007

Harry Potter on Ice posted:

Right? Sadly no one on SA made or lost a lot on bitcoin

whatever happened to that guy who had mega bitcoin and got banned all the time. sepiroth or some dumb poo poo

Nice and hot piss
Feb 1, 2004

Homeless Friend posted:

whatever happened to that guy who had mega bitcoin and got banned all the time. sepiroth or some dumb poo poo

He's making his own stupid forum called Somethingcrypto.biz

Homeless Friend
Jul 16, 2007
I hope he turned some of his poo poo into Ca$$$h and trolls us till the end of time. He's richer than us, and that means hes better. I hope he realizes that.

palindrome
Feb 3, 2020

Oh that guy in the video was literally playing slot machines on a computer, drat. I thought "virtual slot machine" was a euphemism for stocks/coin trading but evidently not. drat I can't think of anything more boring or stupidly wasteful.

Now excuse me while I buy some gems to pull more heroes in this gacha game on my phone.

i say swears online
Mar 4, 2005

palindrome posted:

Oh that guy in the video was literally playing slot machines on a computer, drat. I thought "virtual slot machine" was a euphemism for stocks/coin trading but evidently not. drat I can't think of anything more boring or stupidly wasteful.

Now excuse me while I buy some gems to pull more heroes in this gacha game on my phone.

yeah he lost $9m in crypto while actually playing online slots where he lost another mil

i say swears online
Mar 4, 2005

https://twitter.com/Banker__X/status/1394964948372099072

Too Many Birds
Jan 8, 2020


i say swears online posted:

yeah he lost $9m in crypto while actually playing online slots where he lost another mil

900k or 9 mil?

The Protagonist
Jun 29, 2009

The average is 5.5? I thought it was 4. This is very unsettling.

what a thrill

i say swears online
Mar 4, 2005

Too Many Birds posted:

900k or 9 mil?

9mil crypto loss since last month's highs, $900,000 playing slots last night

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Too Many Birds
Jan 8, 2020


i say swears online posted:

9mil crypto loss since last month's highs, $900,000 playing slots last night

lmao

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