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Trillhouse posted:I thought it made sense until I saw the emoji he used. I wanna be there when universities start teaching the legal interpretation of different emojis to students
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Aug 2, 2023 09:12
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BigBadSteve posted:https://www.thebalancemoney.com/what-is-the-direct-registration-system-or-drs-for-stocks-357536 It’s driving me crazy for some reason. Even though it’s not dumber than anything else these people do.
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Aug 2, 2023 12:13
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bertolt rekt posted:It’s driving me crazy for some reason. Even though it’s not dumber than anything else these people do. From what I’ve gathered from reading Reddit, DRSing “protects” your shares from being arbitrarily taken away by a broker because that is a thing that happens I guess but as a side effect it makes it slower to sell them. This could be wrong, everyone seems to disagree abut why it is good. NFA not financial advice buy buy buy to the moon rocketemoji
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Aug 2, 2023 12:55
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The Pirate Captain posted:From what I’ve gathered from reading Reddit, DRSing “protects” your shares from being arbitrarily taken away by a broker because that is a thing that happens I guess but as a side effect it makes it slower to sell them. This could be wrong, everyone seems to disagree abut why it is good. NFA not financial advice buy buy buy to the moon rocketemoji It’s “good” because it’s how you buy unlisted garbage too poo poo for even the people who deal in pink sheets.
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Aug 2, 2023 13:10
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I wasn't following the weird BBBY cult thing, but youtube helpfully suggested this video to me. It follows the most prominent Cohen-whisperer, who is clearly unwell and pathologically obsessed with Cohen as a person, but people trust his analysis for some reason (I suspect they are also unwell). It really is QAnon, but with stock trading. https://www.youtube.com/watch?v=yrU0DAAylEk
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Aug 2, 2023 13:17
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That guy is going to track down ryan cohen and eat him so they can become one.
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Aug 2, 2023 16:21
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So during yesterday's BBBY bankruptcy proceedings the judge had the some misleading language removed that made it sound like sounds like stockholders would receive *something*, the yellow part highlighted below. He wanted to clarify that under the current plan stockholders get el zilcho, nothing, nada.  Big brain genius knows what this really means... quote:This now has a complete different meaning! As before, each Allowed Interest will still be extinguished. HOWEVER, not in full and final satisfaction of them anymore.
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Aug 2, 2023 17:45
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Maybe I misunderstood something ebcause none of it makes any sense, but I thought the DRS obsession was brought about by some belief that if they DRS'd every single available unit of stock, short sellers would be unable to short The Stock.
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Aug 2, 2023 18:18
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deep dish peat moss posted:Maybe I misunderstood something ebcause none of it makes any sense, but I thought the DRS obsession was brought about by some belief that if they DRS'd every single available unit of stock, short sellers would be unable to short The Stock. Those ideas are connected to each other. Superstonk cultists believe that brokers are secretly lending shares owned by retail traders back to hedge funds for short selling, so therefore in order to stop the short selling, they simply need to DRS enough shares so that hedge funds run out of shares they can secretly borrow to short with. Also, over time what effects are ascribed to DRSing shares has risen, and DRS has assumed various magical properties in their minds. Edit: also, they don't think they need to DRS every share, just enough to "lock down the float" in their words. I'm not entirely sure how that number is calculated, but they think that "locking down the float" will be the event that immediately precedes the million-fold increase in the share price.
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Aug 2, 2023 21:58
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Impossibly Perfect Sphere posted:So during yesterday's BBBY bankruptcy proceedings the judge had the some misleading language removed that made it sound like sounds like stockholders would receive *something*, the yellow part highlighted below. He wanted to clarify that under the current plan stockholders get el zilcho, nothing, nada. "The company is talking to us!"
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Aug 2, 2023 22:03
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My favorite part of it all is assuming their actions had the exact effect they wanted and they did lock down the float and short sellers were obligated to buy X number of shares to cover their position, they would be buying from the lowest bidders which would inevitably be people who just wanted to recoup their initial position and would be willing to sell at or near the price they bought in at to make sure they didn't get left holding the bag.
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Aug 2, 2023 22:04
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I need Bitcoin to do something interesting because reading the ravings of mad men in these stock cults is getting stale.
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Aug 2, 2023 22:35
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Boxturret posted:"This is not financial advice" is basically a spell they think can save them from any consequences. This is not in Minecraft
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Aug 2, 2023 22:54
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super sweet best pal posted:This is not in Minecraft
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Aug 3, 2023 03:50
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CrypticFox posted:Those ideas are connected to each other. Superstonk cultists believe that brokers are secretly lending shares owned by retail traders back to hedge funds for short selling, so therefore in order to stop the short selling, they simply need to DRS enough shares so that hedge funds run out of shares they can secretly borrow to short with. Also, over time what effects are ascribed to DRSing shares has risen, and DRS has assumed various magical properties in their minds. A lot of it really comes down to how various aspects of capitalism that they don't actually understand have been assigned mystical properties instead, which all invariably lead to the secret truth of the world that will grant them salvation. And as I've put it, they aren't particularly discouraged when the prophecy fails because coming up with new mystical narratives is literally their primary group activity.
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Aug 3, 2023 04:10
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deep dish peat moss posted:My favorite part of it all is assuming their actions had the exact effect they wanted and they did lock down the float and short sellers were obligated to buy X number of shares to cover their position, they would be buying from the lowest bidders which would inevitably be people who just wanted to recoup their initial position and would be willing to sell at or near the price they bought in at to make sure they didn't get left holding the bag. That's why you get all the apes together in a reddit community and pledge not to sell until the bid price hits 420.69 Apes together strong
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Aug 3, 2023 04:13
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Thesaurus posted:Lmao. Corporations are people, my friend.
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Aug 3, 2023 04:16
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SettingSun posted:I need Bitcoin to do something interesting because reading the ravings of mad men in these stock cults is getting stale. they're the same people
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Aug 3, 2023 04:27
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Apparently Crypto scams unsurprisingly keep getting more complicated. If you don't check address correctly you could lose 20 mil = what? apparently so. https://twitter.com/cz_binance/status/1686764372616515585
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Aug 3, 2023 05:50
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if there were some central authority with the ability to reverse these fraudulent transfers.......
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Aug 3, 2023 06:06
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Woah woah woah, the authority to reverse transactions? What about all those chargebacks that
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Aug 3, 2023 06:12
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Ah the very simple scam of exploiting people's tendency of not looking too closely at dense, garbled text.
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Aug 3, 2023 06:24
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crypto would probably work a lot better if we were all computers instead of people
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Aug 3, 2023 06:28
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Its not anonymous enough to protect you, but it's also too anonymous to protect you. It's the worst of all worlds.
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Aug 3, 2023 06:35
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Paladinus posted:I wasn't following the weird BBBY cult thing, but youtube helpfully suggested this video to me. It follows the most prominent Cohen-whisperer, who is clearly unwell and pathologically obsessed with Cohen as a person, but people trust his analysis for some reason (I suspect they are also unwell). It really is QAnon, but with stock trading. The funniest part of the video is when he calls his broker and pays a $30 commission for the privilege of buying $500 of BBBY at like 38 cents
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Aug 3, 2023 08:38
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Zokari posted:if there were some central authority with the ability to reverse these fraudulent transfers....... Funny you should mention that, in the part that was cut off they did have to appeal to a central authority because the scam worked. quote:The scammers are so good now they generate addresses with the same starting and ending letters, which is what most people check for when doing a crypto transfer. In fact, many wallets hide the middle part of the address with "..." to make the UI look better.
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Aug 3, 2023 15:31
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Stay #SAFU 🙏 I solemnly intone as I conduct a transaction in what is absolutely a system better than traditional banking.
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Aug 3, 2023 15:41
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Have fun being poor, I say to all bitcoin and NFT dweebs.
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Aug 3, 2023 15:43
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Yeah the crypto space has next to no protections but it's still impressive that so few people there seem to practice personal security of their own in light of this wild west. You're conducting (what you say is) a 20m transaction and you're taking the details on faith and winging it.
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Aug 3, 2023 15:50
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notwithoutmyanus posted:Apparently Crypto scams unsurprisingly keep getting more complicated. If you don't check address correctly you could lose 20 mil = what? apparently so. How is CZ not in jail and Binance an FTX sized punchline by now? I was assured it was all coming crumbling down several times since the start of the year.
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Aug 3, 2023 15:55
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SettingSun posted:Yeah the crypto space has next to no protections but it's still impressive that so few people there seem to practice personal security of their own in light of this wild west. You're conducting (what you say is) a 20m transaction and you're taking the details on faith and winging it. Vibes investment strategy
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Aug 3, 2023 15:58
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notwithoutmyanus posted:Apparently Crypto scams unsurprisingly keep getting more complicated. If you don't check address correctly you could lose 20 mil = what? apparently so. This is not "complicated" or sophisticated in the slightest. It's just the equivalent of texting someone pretending to be one of their close acquaintance in the hope the mark will be lazy and reply to that message the next time they want to communicate.
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Aug 3, 2023 15:59
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Armitage_Shanks posted:How is CZ not in jail and Binance an FTX sized punchline by now? I was assured it was all coming crumbling down several times since the start of the year. CZ has been studiously avoiding anywhere that the US could grab him. Pretty much everyone read the complaints against Binance and said "boy, it looks like these go with a sealed CZ indictment"
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Aug 3, 2023 16:00
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evilweasel posted:CZ has been studiously avoiding anywhere that the US could grab him. Pretty much everyone read the complaints against Binance and said "boy, it looks like these go with a sealed CZ indictment"
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Aug 3, 2023 16:05
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Aramis posted:This is not "complicated" or sophisticated in the slightest. Making an address look like another is technically a bit complicated, but in practice it just amounts to running a program that looks for similar addresses for a few hours
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Aug 3, 2023 16:19
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ymgve posted:Making an address look like another is technically a bit complicated, but in practice it just amounts to running a program that looks for similar addresses for a few hours Seconds. One of the folks I knew made vanity addresses continually, it was a trivial script.
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Aug 3, 2023 17:16
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kw0134 posted:I don't think anyone's been able to conclusively point to where CZ actually is, basically. And Binance's basically pulled up stakes in places where things got too hot, like France I believe? CZ's on record as saying that a "head office" is more of a vibe than an actual location which totally coincidentally makes it incredibly hard to establish jurisdiction. widely believed to be Dubai, which won't extradite rich people for money crimes
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Aug 3, 2023 17:30
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a federal judge overseeing the sec fraud case against the terra luna folks denied a motion to dismiss this is notable because the judge split with the recent bizarre ripple decision which found that selling crypto to institutional investors is a security offering, but selling it to retail investors is somehow not a securities offering and is thus exempt from regulatory protections. quote:According to that court, this was because the re-sale purchasers could not have known if their payments went to the defendant, as opposed to the third-party entity who sold them the coin. Whatever expectation of profit they had could not, according to that court, be ascribed to defendants’ efforts. But Howey makes no such distinction between purchasers. And it makes good sense that it did not. That a purchaser bought the coins directly from the defendants or, instead, in a secondary resale transaction has no impact on whether a reasonable individual would objectively view the defendants’ actions and statements as evincing a promise of profits based on their efforts. it's still early in the trial, but i'm glad to see some pushback against the ripple decision nonsense
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Aug 3, 2023 20:20
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The Bitcoin rapper and her husband have both pled guilty to money laundering charges. https://www.bbc.co.uk/news/technology-66390639 In a twist on the traditional mycrimes.txt, it seems like they created mycrimes.xls instead. “Police successfully decrypted a spreadsheet meticulously detailing the couple's intricate methods for laundering the stash, allowing them to recover nearly the full amount.” Sad to see the good name of rap tarnished by criminal activity like this.
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Aug 3, 2023 20:40
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This is good for hip hop
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Aug 3, 2023 20:53
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