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Fenrisulfr posted:Almost: MtGOX was for selling "cards" for the Magic the Gathering Online program, not physical cards. TIL This actually helps me understand how we got to today.
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Sep 29, 2023 19:41
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Parenthetically, it was (Magic: The Gathering Online) Exchange, not (Magic: The Gathering) (Online Exchange). I don't believe it ever launched before they dipped straight into the bitcoin grift, though.
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Sep 29, 2023 19:43
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Cyrano4747 posted:This is just the overlap they have with conspiracy theorists in general and the more recent flavor of Q-Anon types in particular. I saw a post on one of those subs that pointed out that 88 is often used by racists and it had like 40 - 50 downvotes and a handful of angry replies. That’s literally all the original post said. Lots of racist apes.
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Sep 29, 2023 20:08
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Did you guys know October the meme stock cycle kicks in? 
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Sep 29, 2023 20:14
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Wow. And learning this nuance of where the randomly-named "Mt. Gox" came from led to me Googin' it and learning they still swear they are going to repay all those people who had their money stolen bro, they just need until October 2024 now instead of October 2023. Something tells me this is not the first time they changed the repayment deadline
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Sep 29, 2023 20:28
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https://x.com/foldablehuman/status/1707843378954776837?s=46 gonna go ahead and say things are looking bullish from Dan's post here, went ahead and bought up 20k BBBQY shares on the second-hand de-listed expert market Mercury_Storm fucked around with this message at 21:00 on Sep 29, 2023 |
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Sep 29, 2023 20:53
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Trillhouse posted:
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Sep 29, 2023 21:07
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TheOneAndOnlyT posted:It's not a big deal, why would anyone want to sell? This stock's only going UP, baby! Well yeah, if you can't sell it how can the price drop?
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Sep 29, 2023 21:15
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Buuuut if the weak feeble handed people can't sell then how do I, the strong diamond handed gorilla bull buy more when its on sale like this?
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Sep 29, 2023 21:16
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Fenrisulfr posted:Almost: MtGOX was for selling "cards" for the Magic the Gathering Online program, not physical cards. Whether that makes the whole thing dumber or not is left as an exercise for the reader. A little bit of column a and a little bit "soon to be dead". If you collected every digital card in Magic The Gathering: Online of one set there was a program to turn those into a sealed set of real, mint, physical cards. I believe the cards in the Alpha, Beta, Unlimited sets were the exception because that's where the Black Lotus and the rest of Power 9 live. This is soon going to be killed though or already has last I heard.
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Sep 29, 2023 21:21
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The Pirate Captain posted:I saw a post on one of those subs that pointed out that 88 is often used by racists and it had like 40 - 50 downvotes and a handful of angry replies. That’s literally all the original post said. Lots of racist apes. The 8th letter is H, so 88 is code for Heil Hitler. Glad I could contribute that awful trivia fact to the thread. 
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Sep 29, 2023 21:27
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Meme Stock Masterclass: What is MOASS? This is the first in a series of effortposts explaining the beliefs and jargon of meme stock communities. There are some pictures sprinkled throughout showing these ridiculous ideas in action, so if you already know all this or just don’t care, you can skip the words and just check out the pictures. I’ll be linking these in the second post in the thread, and if anyone else makes a really in-depth or high-quality post I’ll be happy to put it there as well.  The stonk ape phenomenon (which btw is the worst band name ever) started in the aftermath of the 2021 GameStop short squeeze. The prevailing narrative among those Redditors who participated in this squeeze is that it was the result of a few smart people recognizing that a stock was being undervalued, followed by many people coming together to make some money and put the screws to the big money Wall Street parasites using a short squeeze. The reality is a lot more complicated of course, and the one big thing most of the Redditors who talk about this fail to realize is that a lot of hedge funds were also long on GameStop and thus made a bunch of money off the squeeze. However, it is true that the squeeze was driven in part by an unprecedented work of collective action on the part of individual investors, organized in large part by the redditors on r/wallstreetbets. Of course, every squeeze ends eventually, and as we all know many individual investors failed to time the market correctly and ended up buying while the price was high during the squeeze and failing to sell before the drop-off. Some took the L and moved on, while others... did not.  Pictured: Apes love to make and see people make extremely long, rambling posts about their unique interpretations of financial documents, economic statistics, and the legal system. These posts are called "Due Diligence" or "DD" and serve the dual purpose of making the people within the community feel informed and enabling the dismissal of criticism from those outside the community with the assertion that nobody can possibly assail the apes' theories unless they have read all of this nonsense. The theory that formed in the immediate aftermath of the 2021 squeeze, which persists to this day, is that the 2021 squeeze did not actually burn off all the excessive short interest in GameStop. Far from it. That squeeze was actually going to send the stock price way, way higher. High enough, in fact, that all those people who bought at the top and did not cut their losses would actually have become incredibly rich and been proven as savvy investors. However, the malicious hedge fund people pulled strings behind the scenes to bring the squeeze to a premature end despite there still being a large number of open short positions. For example, the hedgies turned off the buy button. What does this mean? In the world of apes, it is a nebulous claim alluding to some action on the part of hedge funds to prevent people from buying GME. The actual thing that this is referring to is an incident during the 2021 squeeze where the trading app Robinhood disabled users' ability to buy GME because facilitating those trades was costing them a lot of money and they were in danger of running out. This had no impact whatsoever on people who were trading without using Robinhood. However, apes began to speculate this act was actually initiated hedge funds who sought to put an end to the squeeze, which does not actually make sense but does if you choose to live in a world where the 2021 squeeze was 100% the work of people using apps like Robinhood. As ape lore evolved the idea that hedge funds did something to stop people from buying GME both solidified as established fact and ballooned to seem more widespread than just a single trading app.  So if the squeeze had not been prematurely ended, what would have happened? Well, the apes believe that GameStop has an unprecedented level of short interest pushing the price down due to “naked shorting.” Short selling, aka shorting, is when someone borrows a stock and sells it, then buys the same amount and gives it back to the lender some time later, making money if the stock price goes down and losing if it goes up. Naked shorting is a complicated concept to understand without knowing the exact mechanics of how short selling works, but essentially it means that the short seller does not actually buy the shares before selling them, and instead hopes to procure them after the sale but before the delivery date, kind of like kiting a check. The apes believe that the hedge funds have done this with GameStop, and whatever other meme stocks a given ape happens to believe in, and that they have done it a lot. This idea is primarily based on a misunderstanding of how certain financial statistics work. During the previously-mentioned period of uninformed investors looking for answers, they discovered that the number of shares which had been borrowed as part of a short sale was greater than the total number of shares. The apes saw this as impossible and proof that many short sales were being performed with nonexistent shares, i.e. naked. In reality, this is easily explained by the fact that one share can be lent out multiple times as part of multiple concurrent short sales, and in turn can be purchased and sold to deliver on multiple short positions. Nevertheless, the idea that over 100% borrow rate is impossible is ubiquitous within meme stock communities and remains a central pillar of the apes’ understanding of the stock market.  Date of screenshot: September 29, 2023 Thus, the apes believe that there is a massive amount of short interest in GameStop which makes the short interest that fueled the 2021 squeeze look like a drop in the bucket. That squeeze was a pittance, and the apes have taken to calling it the “short sneeze” or just “the sneeze.” They believe that if they make the right moves, they can overcome/outlast the ability of hedge funds to stave off their obligation to make good on their many, many short positions. When they can stall no longer, the short squeeze will begin again and this time it will reach heights never before seen in any short squeeze in history. It will be the squeeze that makes all meme stock holders rich. It will be the squeeze that creates generational wealth for the poor and ruins the rich, causing a shift in the structure of society as we know it. It will be the Mother Of All Short Squeezes. MOASS. It is the rapture, the promised land, the big event around which every meme stock community’s story is built. It's bullshit. https://old.reddit.com/r/ThePPShow/comments/153dh4f/how_to_train_those_diamond_hands_for_moass/ 
Ariong fucked around with this message at 09:00 on Jun 5, 2024 |
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Sep 29, 2023 21:46
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Ariong posted:Meme Stock Masterclass: What is MOASS?  great post, but you missed a tiny stupid detail - I believe Mark Cuban coined the term MoASS, and the WSB brainiacs thought the heaven's parted because a rich person said something may be there.
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Sep 29, 2023 21:50
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Not much, what's MoASS with you?
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Sep 29, 2023 21:52
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I perused the BBBY reddit today and it's real sad how many of them are still saying "well I know everything looks bad but I'm already in deep so zero or hero / lambo or food stamps" etc. It's like no, it's not zero or hero anymore, it's just zero and food stamps now.
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Sep 29, 2023 22:00
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Bonus behind-the-scenes developer commentary: During the making of that post I just put placeholders in for images, with the hope that for each placeholder I would be able to find something that was stupid, funny, and fit the concept I was talking about. Each one of the ape posts pictured (or in one case linked) in my post took me less than a minute to discover. The sheer quantity of stupidity available for perusal is mind-boggling. I am here to inform you of the most lucrative stock market play in history. First, let me tell you about Encarta.
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Sep 29, 2023 22:01
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For any young kids out their Encarta was a thing back in the really old, olden days, it was considered the first encyclopedia, even before Wikipedia. It came on a cd and had a bunch of words about stuff, and included stuff that moved for a few seconds which if you squinted really hard could sort of be described as video. Technically it was considered education.
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Sep 29, 2023 22:07
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wHy PaY fOr CoLlEgE wHeN wIkIpEdIa Is FrEe 
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Sep 29, 2023 22:28
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mega dy posted:I perused the BBBY reddit today and it's real sad how many of them are still saying "well I know everything looks bad but I'm already in deep so zero or hero / lambo or food stamps" etc. It's like no, it's not zero or hero anymore, it's just zero and food stamps now. The ‘good’ thing is that the memestock ape culture is pretty loving awful at this point, and anyone still immersed in it to this level has failed an easy moral check. “Wife-changing money” where they fantasize about abandoning their wives* and talk about how to hide money in the divorce because they deserve hot young women who worship their genius investing is just the tip of the iceberg: death threats to employees because they talked about empty shops online and cheering on them losing their jobs for being deadweight unbeliever shills, misogyny towards women involved in the bankruptcy proceedings that I couldn’t quote even if I wanted to, and ((dogwhistles)) galore. The easiest example being this collection from AMC ape. Warnings for basically… everything? Racism, transphobia, qanon etc. so I’m not going to inline a single image, but if you find yourself unable to schadenfreude this memestock business then check out this average ape. * Wives existence as questionable as their investment choices.
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Sep 29, 2023 22:44
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SatansOnion posted:wHy PaY fOr CoLlEgE wHeN wIkIpEdIa Is FrEe Wikipedia is not going to teach you how to do math or physical science, social sciences require independent thought and engagement with and responses to theories, and someone with that attitude obviously has no interest in the humanities (which also of course require engagement beyond, you know, reading summaries of books) Does Wikipedia get you through your piano recital or nursing exam? I am starting to think that person might not have thought this statement through!!!
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Sep 29, 2023 22:52
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also pre internet they say "publiC LIBrARies ExIsT" *votes for less funding* oh and years later they threaten libraries.
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Sep 29, 2023 22:55
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Apparently both BBBY and ThePPShow are full of people convinced that the conversion of company name to Butterfly is the beginning of a stock conversion and MOASS. The people pointing out that the filing document clearly states that this is only a vehicle for the liquidators to continue dissolving the company's assets after they are no longer entitled to the name Bed Bath and Beyond are, of course, shills, which makes this very bullish. It's odd to see the birth of a new cult in real-time.
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Sep 29, 2023 23:11
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Oh... it happened. It's done. BBBYQ shares are cancelled.  A whole day ahead of schedule, too! Just goes to show what a quality business BBBY is. Always going above and beyond.
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Sep 29, 2023 23:17
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Sep 29, 2023 23:29
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RC is still waiting for the right time to swoop in and save the bobbys
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Sep 30, 2023 00:14
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Ooh, exciting. I expect that next there will be some confusion, some people will finally realize they are well and truly hosed and leave, and some other subset will collaboratively spin a new narrative about... something. Rising from the dead, maybe? This is a test of faith? This next part will be very interesting to watch.
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Sep 30, 2023 00:15
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cruft posted:Ooh, exciting. I'm waiting to see how many of the apes go after the DD writers for their amazingly wrong predictions and I also wonder how many of ppseed's supporters will realize they've been shafted and turn on him it's all quite entertaining
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Sep 30, 2023 00:22
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I think it would be funny if this made the news and got all the stock subreddits banned.
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Sep 30, 2023 00:59
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trust the process
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Sep 30, 2023 07:28
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zetamind2000 posted:trust the process 
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Sep 30, 2023 07:33
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at least one person realized the prophecy failed and they even learned a lesson of course the lesson is to try the same thing again until it works
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Sep 30, 2023 07:36
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Vesi posted:at least one person realized the prophecy failed and they even learned a lesson Whoa, that guys just like Tyler Durden
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Sep 30, 2023 07:46
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The latest Reddit BBBY spin is BBBY had to change their name to Butterfly. This is because they literally sold their name to Overstock, so they need a placeholder name to finish the winding up. This is entirely routine. Unfortunately somebody (and I am slightly curious if someone with a sense of humor decided to troll them) choose the name 'Butterfly' with it's obvious connotations of rebirth and renewal and welp...... 'Secret plan confirmed, straight to the moon, lambo's for everyone!'
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Sep 30, 2023 08:39
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 Which reminded me of one of my faves 
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Sep 30, 2023 08:49
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You know, at about the mid point of the whole gamestop saga, I checked out of reddit. Now that I read the OP and took a peek inside reddit again..I refuse to believe any of this is real. These people cannot be real. It's just technobabble posts... investobabble? JFC E: This is like what a LLM would spit out if it was trained on wall street bets.
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Sep 30, 2023 08:54
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mega dy posted:I perused the BBBY reddit today and it's real sad how many of them are still saying "well I know everything looks bad but I'm already in deep so zero or hero / lambo or food stamps" etc. It's like no, it's not zero or hero anymore, it's just zero and food stamps now. its honestly too sad to laugh at almost
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Sep 30, 2023 12:47
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Splorange posted:You know, at about the mid point of the whole gamestop saga, I checked out of reddit. Now that I read the OP and took a peek inside reddit again..I refuse to believe any of this is real. These people cannot be real. participatory schizophrenia. I've seen more grounded people on these forums who only blow 10 bucks every time they rereg
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Sep 30, 2023 12:55
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Vesi posted:of course the lesson is to try the same thing again until it works Makes sense. I was hoping for something more pulpit pounding, but this is probably all I'm going to get. Milo and POTUS posted:its honestly too sad to laugh at almost Some of these people have surely blown a significant part of their savings or retirement. I think that counts as sad. cruft fucked around with this message at 15:49 on Sep 30, 2023 |
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Sep 30, 2023 14:10
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I can't believe Carl Icahn was China this whole time! He made it too obvious by rearranging the letters of his last name and also being a billion people.
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Sep 30, 2023 14:46
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It may also surprise you to learn that my SA username has been a coded message this whole time too: u r fct
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Sep 30, 2023 14:50
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