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SlapActionJackson
Jul 27, 2006

Darth TNT posted:

This crash is going way to slow.

One the bright side though, even my in laws were talking about how Bitcoin and crypto were evaporating worth. :allears:

DEI/DEUS is blowing up right now if you want to watch another wreck in real time.

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SlapActionJackson
Jul 27, 2006

Is Pulte the new meme stock, or do first time home buyers think it's fancy/quality?

SlapActionJackson
Jul 27, 2006

ERCOT has about a GW of tie to outside interconnects. (US east and mexico)

SlapActionJackson
Jul 27, 2006

Also, Tether turned the money printer back on.

SlapActionJackson
Jul 27, 2006


This is hilarious. The buttcoiners finally get the holy grail of unrestricted access to US equity markets and the result is a giant wet fart. A week+ of trading and the net result is barely a billion dollars in new money, the majority of which came in the first day. The vast majority of the volume is people fleeing Greyscale's fees.

Compare that with Tether, who put 30 billion "dollars" into the system in 2023 alone. I sure hope they're prepared to keep that printer running. What's that? Bitcoin price is falling AND tether has spent this entire week trading right around the price where redeeming it is a profitable arbitrage? No cause for concern, I'm sure.

SlapActionJackson
Jul 27, 2006

BrewingTea posted:

Ok, but *why* would you buy back shares? It might make the price go up, but that doesn't make *you* money. In fact, it costs you money.

Buybacks perform exactly the same economic function as dividends - return of cash to shareholders. For most of recent history, buybacks were strictly preferable for tax law reasons.

This inexplicably makes a lot of people mad, so now there's a 1% tax on buybacks that may shift some companies back towards issuing dividends instead.

SlapActionJackson
Jul 27, 2006

Speaking of meme stock redditors, anybody checked on the BBBY crew recently? Has reality sunk in yet?

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SlapActionJackson
Jul 27, 2006

Vampire Panties posted:

is there a way to short bitcoin that doesnt involve more bitcoin

You can short the ETFs, but you still have same fundamental problem that the price discovery the ETFs are tracking is largely happening on unregulated exchanges that don't prohibit manipulation of the price.

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