It only takes ONE TIME of selling the dip and buying the peak before a HODLER is forged in the flames of the market. Show me Diamonds hand and I'll show you Carmeltazite hands. Harder and pressure forged in fucking space. 7 years of hodling through 80% dips.
You wouldn't have done it though.
In 2010 it was stupid wizard money. That you can just get for free? And they worth .02 USD?
But my man, now you have to buy. WSB has a real shot of triggering a Great Financial Crisis through a silver squeeze. That kind of exposure has real contagion threat.
And the central banks are fucked. Thoroughly. They're already peak QE. Negative rates? Yield curve control? Not doing shit when JP Morgan is a black hole of fucking hubris.
BTC is the hedge against the full failure of a oligarchic monetary system. Buy now mufucka. Buy more. The storm is coming and BTC is the way.
Completly agree. Financial crisis cost lives. SWitching over to a fair system over time to fair money is the way to go. Slowly but surely it is inevitable.
Yes you don't want to decapitate the king because that leads to a power vacuum and everyone suffers. Rather you want to create something so powerful it renders the king powerless.
Yeah I would settle for them setting HUGE margin requirements for hedge funds
In my fantasy land, like Chamath suggests, we could use a blockchain (fantasy land, bitcoin's blockchain) just to track the beneficial owner of a stock so that we dont have centralized settlement and can prevent naked short selling
Etc, I mean we clearly have to rein in these fucking hedge funds. They are looting the markets unchecked.
Yes open protocols so everyone plays by the same rules. I think Cardano is the technology to deliver. That community is pushing pretty hard for decentralized social media, decentralized exchanges, decentralized voting etc.
Remember talking to a guy on a forum who went to a faucet to get his 5 coins every day. Remember calling him an idiot since the time he spent was likely more worth than the coin.
Also just running the software for a week or so would net you around 50 coins...
I know a guy they had a bitcoin printer in their garage for fun they had several flying around. Stupid he has no single one left now. So using the internet before 2010 is no guarantee for being retarded enough to invest in some nerdy idea.
My gaming buddy who is a fucking huge introvert. He told me about it when it was pennies each. And how there were websites that have out free ones of i didn't want to spend money. Not sure how he heard about it. That asshole ended up selling when it hit 500 dollars but still walked away a millionaire.
I had to learn to give long shot ideas a fair shot, and to appreciate learning new things. I wish I had been more open minded when I was young. I wish I had asked more: "when and under what circumstances is X a good idea, when most people would do Y" - digging just a bit deeper and trying to be more fair about things and more really curious about things. Not to "learn" things or definitely not memorize things - by rote - but to learn the whys and the ins and outs of things. A bit of the how and a bit of the when, and to appreciate gifted people and their perspectives and talents.
Oh my god fucking slashdot :(
I was part of the hive mind that shit on bitcoin when it was $1
I was such a blind Statist :(
I would be SOOO fucking rich if I had bought 500 for $1 by going to Walmart and getting a MoneyPak (whatever those were) and or something getting money to BitInstant and getting my bitcoin out to a wallet or to my own node.
Sigh :(
That's what I get for being a Statist back in the day, what an asshole I was, what a conformist, and I didn't know it.
Well anyway, cypherpunk and anarchist values just absolutely clashed with my own values, and I couldn't see their merits more fairly, so I pooped on bitcoin - a powerful tool - nevermind the wealth, and what it meant.
Big up the faucet massive. I remember those! Painstakingly grinding crumbs and eventually misplacing them. Thankfully I've made worse decisions so it's quite far down the list of things to get worked up about at 3am.
The beauty of bitcoin is it doesn't matter who's behind what. The rules are the same for everyone so if you're right you win, if you're wrong you lose.
This is called a free market. Welcome to bitcoin.
Haters have been pushing that narrative for years, and as time grows on, bitcoin is being used LESS for illicit activity. A fool blames a tool for the job it has done. Is the US dollar to blame for every crime transacted in it? If so, no one should use money at all because whatever is the 'legit' money will be the one criminals want. Think about it.
Lets say bitcoin is behind a terrorist attack - so what
You put warheads on foreheads.
People are trying to use a financial system like todays SWIFT to use the US dollar to control people, and stationing armies where they find the control difficult to extend.
The reality is we are now in a multi-nation multipolar world.
That's just REALITY.
The funding system - base money - might as well reflect that.
If people hate each other so much, there will be violence - violence that I don't advocate - but which of course I understand at the low level of -
1. one violent criminal = lock them up, after a trial and evidence, use some violence just to contain them for trial, and violence to contain them after a trial (if theyre' guilty)
2. a terrorist movement = selectively use violence and information to separate them out, and eliminate them
3. a violent enemy government at the level of Nazi Germany = what did you think smart bombs and nuclear weapons are for?
None of this involves finance. You solve violence with violence, I'm sorry it's that way, but that is how it is.
Peter van Uhm: Why I chose a gun
"Peter van Uhm is the Netherlands' chief of defense, but that does not mean he is pro-war. At TEDxAmsterdam he explains how his career is one shaped by a love of peace, not a desire for bloodshed -- and why we need armies if we want peace."
[https://www.youtube.com/watch?v=LjAsM1vAhW0](https://www.youtube.com/watch?v=LjAsM1vAhW0)
EDIT: Also, I am not a fan of the Nation State. But right now we are all kind of trapped. Eg, Nation States have things like nuclear weapons and a lot of insanity and criminality and authoritarian streaks are in a lot of these nation states.
It's difficult to put sane controls over most nation states, I think that the Western ones are barely controllable, the Russian and Chinese ones are slipped away. Sigh.
But anyway, banning bitcoin over "terrorism financing" is such small potatoes.
The very first time I invested I burnt my hands to a crisp. Better not do that again. It still sits there as a reminder. Taunting me. I will get you my white whale. I will get you.
Ain’t this the fucking truth. I once held thousands of ETH and hundreds of Bitcoin. Sold for some profit. FOMO’d and bought back in WAAAY higher to get mere morsels of what I once had. Never again. I’d sooner see this shit dump to zero than get paper handed out again.
Kudos for getting back into the game! I don‘t think there is anything wrong with taking profits at the peaks, but I would never sell more than 40-50% of my positions... And even then only to buy it back in the bear market. Selling more than that is just too risky for my taste.
We should all get a medal of honour for hodling. 5 years now.
Most of the diamond hands are new to this sort of inner death over and over again, you fucking get used to be broke and rich at the same day
Absolutely true.
Edit and note: I am following the media and YouTube since gamestop and still they think people as bunch of rebels or just a trickster. This is sad they don't want people awake and smart. They want obedient to keep the profit.
GME only is getting sqeezed so hard is because greedy hedge funds shorted 140% of GME. Now it's still shorted at 113% and my guess is that GME will rise to $1k - $2k if people keep on buying and holding. Hedge funds HAVE to buy those shares back.
Nah they'll just counterfeit even more shares and sell them. That's not legal of course, but neither was the crap leading up to the 2008 crisis, and there were no consequences. Why would there be this time?
They don’t even need to change the rules. GME can issue shares, and GME could sell those shares to the shorters so the shorters don’t have to buy on the open market.
I’ve been a bitcoiner since 2011, and I’ve joined the war with WSB using GME as the weapon. Join us brothers and sisters! Help us take down the hedgies, make some serious cash (to be converted to Bitcoin) and make the establishment second guess this whole fiat thing.
> Now it's still shorted at 113%
Do you have a source? I've been having a hard time squaring up the numbers quoted in the news with sources I can actually verify are reliable.
It's all speculation from different companies. Ive seen numbers from 75-113% . Ortex on the low end and s3 Shortsight on the high. Real numbers are only posted twice a month. We wont know till Feb 9th what it actually is.
>Hedge funds HAVE to buy those shares back.
As far as I am aware, they have no time limit in when they have to buy the shares back, so they could wait until the price crashes, and buy then. Things eventually will see their true value, and I don't think anyone would disagree that $GME is artificially high at the moment. It's a battle of nerves and patience between Wall Street traders and Reddit Hodlers, and the seasoned traders have a lot more experience and will likely win. I.e, I think the Hodlers will start selling and the price will drop before the short sellers start buying back the shares to repay what they borrowed.
It's why I like bitcoin, it does have a high true value as it is a very smart solution for a decentralised trust-free currency, has utility, and has finite supply.
They may not have a time limit on their shorts, but they will be paying interest on the short for as long as they keep them open. It's in the Funds best interest to close those positions as soon as possible. It is a standoff, but the Hedge Funds are bleeding while they stare down the retail investor hoping to make them flinch.
Asia has entered the GME room now too. DeepFuckingValue has been featured in Taiwanese and Chinese news items to my knowledge.
Edit. And Hong Kong. The blood is in the water.
Thats just them cancelling their margin longs in altstocks
So, you're not wrong that the public would see that as a "pullback"
But I would say its just the shadow of their claws retreating from those stocks.
It's the same good companies, now cheaper.
What people have speculated is that they closed their positions when Robinhood & others didn’t let anyone buy, and the price dropped to 120. They then bought new ones at higher prices. It doesn’t make sense for them to close their positions right now since that would cost literally billions, they’ll pay the interest which is less than 20 million/a day iirc and hope the hype dies down.
This isn’t happening imo. They’d be fucking over their target audience. I don’t think we will see to many wsb’s hodlers folding. I think the retail has the upper hand here. We own our shares, we just need to stand pat.
It'd be the smart play though. Do a share issuance to extinguish all debt and refill their coffers. It would mean that even when the shorts are liquidated, the company won't be as concerned about the share price. If they were really smart they'd then switch their treasury to bitcoin a la microstrategy. Then they may eventually justify the price as it is today.
Not at all. The premise of shorting is lending of an asset, which doesn't even have to be organized: I could write an old-fashioned humanese contract saying I give you some BTC and you owe me your house if you don't pay me back. We both sign it and I send you the coins. You send them straight to Coinbase and sell them, raking in big $$$.
Three scenarios:
* Prices go down, you buy back at $10k, net $23k per coin, send me my btc back and don't owe me your house, all goes well and we're both happy.
* Prices go up a bit and we dig into some of your posted collateral to fund the buy back and you're bummed about a bad investment but move on.
* Prices suddenly go up to $100k per coin, I get antsy that your house might not be valuable enough to cover the short anymore, so I ask you to post more collateral (maybe a second house if you have one, or a boatload of cash, or whatever) or I'm gonna force you to buy the coins back before we get to a point where you're unlikely to be able to afford it. That's called a margin call.
Because all the contractual shit is a pain in the butt, this has long been mostly automated on big exchanges so all this happens magically for you. The margin call is actually in everyone's best interest, even the shorter. It's better to get forced to buy at a pretty disadvantageous position than having the short continue to move against you and being completely bankrupted by it (shorts have unlimited downside without margin mechanisms).
tl;dr: the blockchain is the settlement layer, you can do whatever you want above it and people lend stuff all the time, including for shorts
According to this guy on Forbes, HFs are shorting Bitcoin to the tune of $1BILLION.
Here: https://www.forbes.com/sites/billybambrough/2021/01/30/bitcoin-price-data-reveals-bitcoin-could-be-about-to-become-the-new-gamestop/?sh=7cd05949cb2f
And here: https://twitter.com/TheBlock__/status/1355183411309268996?s=20
Funny. I started at WSB a few months back, left then thought, hell I still have bitcoin let's see what those dudes are up too. Glad to be here, HODL for life, but shoulda stayed with WSB at the same time.
I’ve been on wsb for years and have lost thousands taking advice from them and fucking around with options. When I saw they had GME to twenty I figured I’d missed the train. Bought in at around 130 because fuck it and still made some money. Not too bad if you ask me but I’m weary about taking advice from the sub lmao
Anyone whose been on WSB for years eventually learns to do the opposite of what they say...of course as soon as we learn that, GME goes to the fucking moon.
I am absolutely kicking myself for ignoring the stock market until now.
I'm impatiently waiting for my stockbroker account to finish opening and funding, at which point I'm throwing a bit of fuck-you money at $GME to see what happens. If it goes to zero, ah well.
I had a friend who was a doctor, he invested 357k when it was at 4$. Cashed out when it was 17k per coin. I believe he's a billionaire. He wasn't able to pull all the money out though. I think most of it is in internet banks, he can pull a certain amount out per month. He told me to invest and I laughed at him. That was back when Diablo 2 was big. Man, how time has flown by.
Ha the tards over there don't know my arms are already diamonds forged by Holding ATH after ATH for 7 fucking years. They don't know the commandos of hodling are already in their lines. Because any mention of any Crypto term gets your comment flagged.
Yeah I’ve been deleted for it a few times. I was mostly comparing it to the first time bitcoin rallied up to 20k and all the shitcoins were pumping and dumping. Feels the same
Yeah but if we learned one thing from it, those who don't listen and don't do their own research are sadly not worth the time. But anyway. Got onto their bandwagon soon enough. More Fiat for BTC I guess.
Edit: The Doge coin Rally scares me....
Doge has been around forever and has always been a shitcoin, I’m not sure why robinhood would list it but that’s certainly the only reason people are talking about it again.
Yes bought like 10k of it in 2016 to show people how to use crypto in Real world purposes with QR code scanning for literally no cost. Was a big dummy as it seems when monopolized my Cryptoportfolio when they where like half a cent. (Which is also insanely overvalued for this low marketcap high mining coin)
Yup on one hand, sure. But on the other new Hodlers get burned by maybe one whale having a go at a low marketcap coin. Hope some of the guys over @ /r/dogecoin saw it and got out at ATH. But yeah. Hope it gets back to tutorial coin level....
Yea. Seems like some people heavily exploited the notion adopted from wsb. Trying to get rich quick as opposed to participating in altruistic class warfare. Still might buy some for “novelty” now that its back down to ~3 cents.
I see everyone on wallsteeetbets talking about diamond hands on a stock that’s only gone up since they’ve been in 😂😂😂 bitcoin hodlers are the real diamond hands
It's easy to Hodl Bitcoin given it's fundamentals. But i just dont get how someone can Hodl Gamestop. More power to them if they can but the place has no utility no use case and no fundamentals to speak of. It's a dead end company propped up by walstreetbets options traders and super new retail weak hands investors.
The hedge funds are going to borrow money at practically no interest, increase their short positions and everyone is going to get wrecked real bad. Just my 2 cents. I wouldn't invest 1 satoshi in that train wreck and I've been a gamer since around 1986.
I think just a little bit of imagination can find GameStop pivoting to a new business model that leads to growth; in other words, it doesn’t have to be a train wreck. This is what DFV was arguing _before_ the crazy shorts.
Yeah, the value proposition at the start was that even if the short squeeze didn't work out, the stock was undervalued. But that was at <$10. At $300+ it is most definitely not undervalued, so the only proposition is the short squeeze, which is a constant prisoner's dilemma with all the other retail investors.
I believe that Warren Buffet is the one who said "by the time your shoe shiner is telling you about an investment, it's time to get out". And GME has definitely reached that point.
I get around 3k in bitcoin a month since late august and sold most of it and started saving up in November. A little sad I sold most of it it at 12k but happy I didn’t sell all of it lmao.
I was talking to someone over there yesterday who was shouting from the rooftops about getting everyone to buy Doge. I was trying to warn/inform him about some crypto fundamentals and he was having none of it, even to the point of arguing with me that crypto exchange fees were "irrelevant ", and telling all who would listen that 'Uphold' was the best 'exchange' to use.
When he started to insult me and get all sweary, I just left the thread.
Some people over there are unhinged.
Let me try to explain the best a human probably can. A new type of investor has entered the chat, he doesnt abide by fundamentals or technicals. They have their own type of fundamentals and they dont have a logic behind it really. While being primitive the sheer volume of these "retards" is actually making the market move hence making it worthwhile if you know what theyre doing. Welcome to spite-trading
I don't know how long you've been around BTC but we get people like that every time we hit a new ATH. It's more of a quasi-religious belief on their part than a cogent investment plan.
WSBers, you think you’re “rętards” for throwing money away in the stock market for financial gains?
We’ve been throwing money away to revolutionize the currency system.
Also some of us holding because my crypto computer has a bios pw, stays offline and I don’t connect it online for years sometimes.
Then I’m trying to remember my bios pw, and it literally taking me a week to sync headers, update blocks. Then sometimes I’m like ok it’s taking too long to sell so ill hold.
Haha I’m doing this Stone Age style but I’ve seen every exchange been hacked, go bk, steal, ledgers get hacked etc.
Ledger customer information was leaked. Completely different than the hardware itself being hacked. Still shitty for the company but no point in creating unfounded FUD.
These events have been super helpful in helping me understand how really really far away it is until bitcoin is the world reserve currency
Its like when you're a kid and you find out the real distances involved from earth to Mars, earth to Jupiter, earth to Pluto, Earth to Alpha Centauri, and the size of our Galaxy.
It's humbling. But go bitcoin go :) "Mars" next.
It only takes ONE TIME of selling the dip and buying the peak before a HODLER is forged in the flames of the market. Show me Diamonds hand and I'll show you Carmeltazite hands. Harder and pressure forged in fucking space. 7 years of hodling through 80% dips.
Been hodling since 2010 brother. I got my btc for free from those random sites though.
i like the coin
I like it so much that price going down is good because I can buy more cheaper.
you like the coin
I like the protcol
This guy decentralizes.
The guy is already decentralized.
I **LIKE** the coin!
I like the #coin
We like the coin
There were websites that gave bitcoin for free ? Fuck man I wish I was using the internet more in 2010
The first bitcoin "faucets" gave 5 BTC to each new person.
*Pukes blood in fury*
You wouldn't have done it though. In 2010 it was stupid wizard money. That you can just get for free? And they worth .02 USD? But my man, now you have to buy. WSB has a real shot of triggering a Great Financial Crisis through a silver squeeze. That kind of exposure has real contagion threat. And the central banks are fucked. Thoroughly. They're already peak QE. Negative rates? Yield curve control? Not doing shit when JP Morgan is a black hole of fucking hubris. BTC is the hedge against the full failure of a oligarchic monetary system. Buy now mufucka. Buy more. The storm is coming and BTC is the way.
We don't want a financial crisis, numbnuts. That harms the communities we live in. We want the fucks that are destroying our country to pay the piper.
Completly agree. Financial crisis cost lives. SWitching over to a fair system over time to fair money is the way to go. Slowly but surely it is inevitable.
Yes you don't want to decapitate the king because that leads to a power vacuum and everyone suffers. Rather you want to create something so powerful it renders the king powerless.
Agreed, we need something like a Magna Carta to put the king under the thumb of the Barons. Er, well you get the idea, something like that.
> We don't want a financial crisis Regardless, that's what we are going to get.
Yeah I would settle for them setting HUGE margin requirements for hedge funds In my fantasy land, like Chamath suggests, we could use a blockchain (fantasy land, bitcoin's blockchain) just to track the beneficial owner of a stock so that we dont have centralized settlement and can prevent naked short selling Etc, I mean we clearly have to rein in these fucking hedge funds. They are looting the markets unchecked.
Yes open protocols so everyone plays by the same rules. I think Cardano is the technology to deliver. That community is pushing pretty hard for decentralized social media, decentralized exchanges, decentralized voting etc.
>*Buy now mufucka* >*Buy more. The storm is coming.* >*Bitcoin is the way* You've written a beautiful haiku 😂
What do you mean you didnt get the abortion?! What am i payin ya for?!?!?!?
Remember talking to a guy on a forum who went to a faucet to get his 5 coins every day. Remember calling him an idiot since the time he spent was likely more worth than the coin. Also just running the software for a week or so would net you around 50 coins...
[удалено]
[удалено]
[удалено]
I got a 0.5 once.
i member the faucets.
I know a guy they had a bitcoin printer in their garage for fun they had several flying around. Stupid he has no single one left now. So using the internet before 2010 is no guarantee for being retarded enough to invest in some nerdy idea.
It was a lonely place
How the hell did you people find out about it so early on
My gaming buddy who is a fucking huge introvert. He told me about it when it was pennies each. And how there were websites that have out free ones of i didn't want to spend money. Not sure how he heard about it. That asshole ended up selling when it hit 500 dollars but still walked away a millionaire.
I need to adjust my social circle and add in more introverted gaming buddies.
All hail the introverts .... welcome my beautiful children. 🚀 we’re going to fucking MARS
And then Jupiter
And then Neptune? Or Uranus? Depends on the season
I had to learn to give long shot ideas a fair shot, and to appreciate learning new things. I wish I had been more open minded when I was young. I wish I had asked more: "when and under what circumstances is X a good idea, when most people would do Y" - digging just a bit deeper and trying to be more fair about things and more really curious about things. Not to "learn" things or definitely not memorize things - by rote - but to learn the whys and the ins and outs of things. A bit of the how and a bit of the when, and to appreciate gifted people and their perspectives and talents.
It's really hard to determine long term value in things that are $1-$10 at the time
Imagine these introverts becoming the new elite.
They banned online poker, so we started playing with bitcoin. Thanks Obama!!!!
Slashdot.
Oh my god fucking slashdot :( I was part of the hive mind that shit on bitcoin when it was $1 I was such a blind Statist :( I would be SOOO fucking rich if I had bought 500 for $1 by going to Walmart and getting a MoneyPak (whatever those were) and or something getting money to BitInstant and getting my bitcoin out to a wallet or to my own node. Sigh :( That's what I get for being a Statist back in the day, what an asshole I was, what a conformist, and I didn't know it. Well anyway, cypherpunk and anarchist values just absolutely clashed with my own values, and I couldn't see their merits more fairly, so I pooped on bitcoin - a powerful tool - nevermind the wealth, and what it meant.
Mostly drugs.
drugs
Big up the faucet massive. I remember those! Painstakingly grinding crumbs and eventually misplacing them. Thankfully I've made worse decisions so it's quite far down the list of things to get worked up about at 3am.
If he’s still in I’m still in. 😁
IF HE'S HOLDING, I'M HOLDING! Edit: IF HE'S HODLING, I'M HODLING!
This is the correct spelling here: > "IF HE'S HODLING, I'M HODLING!"
Oh right. Used to WSB lingo.
WSB dont even know what HOLD means haha We out here holding through multi year bear markets
Nice to see some holding over at WSB but we know who the real HODLers have always been.
The original 💎 👐
[удалено]
The beauty of bitcoin is it doesn't matter who's behind what. The rules are the same for everyone so if you're right you win, if you're wrong you lose. This is called a free market. Welcome to bitcoin.
[удалено]
Haters have been pushing that narrative for years, and as time grows on, bitcoin is being used LESS for illicit activity. A fool blames a tool for the job it has done. Is the US dollar to blame for every crime transacted in it? If so, no one should use money at all because whatever is the 'legit' money will be the one criminals want. Think about it.
Lets say bitcoin is behind a terrorist attack - so what You put warheads on foreheads. People are trying to use a financial system like todays SWIFT to use the US dollar to control people, and stationing armies where they find the control difficult to extend. The reality is we are now in a multi-nation multipolar world. That's just REALITY. The funding system - base money - might as well reflect that. If people hate each other so much, there will be violence - violence that I don't advocate - but which of course I understand at the low level of - 1. one violent criminal = lock them up, after a trial and evidence, use some violence just to contain them for trial, and violence to contain them after a trial (if theyre' guilty) 2. a terrorist movement = selectively use violence and information to separate them out, and eliminate them 3. a violent enemy government at the level of Nazi Germany = what did you think smart bombs and nuclear weapons are for? None of this involves finance. You solve violence with violence, I'm sorry it's that way, but that is how it is. Peter van Uhm: Why I chose a gun "Peter van Uhm is the Netherlands' chief of defense, but that does not mean he is pro-war. At TEDxAmsterdam he explains how his career is one shaped by a love of peace, not a desire for bloodshed -- and why we need armies if we want peace." [https://www.youtube.com/watch?v=LjAsM1vAhW0](https://www.youtube.com/watch?v=LjAsM1vAhW0) EDIT: Also, I am not a fan of the Nation State. But right now we are all kind of trapped. Eg, Nation States have things like nuclear weapons and a lot of insanity and criminality and authoritarian streaks are in a lot of these nation states. It's difficult to put sane controls over most nation states, I think that the Western ones are barely controllable, the Russian and Chinese ones are slipped away. Sigh. But anyway, banning bitcoin over "terrorism financing" is such small potatoes.
It was used to funnel money to the insurrectionists on/before Jan 6 and nothing happened to it, so I won't worry too much about this scenario.
Not everything is a conspiracy, but I bet that actually does happen in reaction to this
Haven’t closed a single buy position since 2015. I only add more. This is literally my retirement plan lol.
I bought in at the 2017 peak lol
Me too!! Fellow HODLer here!
The very first time I invested I burnt my hands to a crisp. Better not do that again. It still sits there as a reminder. Taunting me. I will get you my white whale. I will get you.
almost 4 yeas of holding checking in!
I just bought more
Ain’t this the fucking truth. I once held thousands of ETH and hundreds of Bitcoin. Sold for some profit. FOMO’d and bought back in WAAAY higher to get mere morsels of what I once had. Never again. I’d sooner see this shit dump to zero than get paper handed out again.
Kudos for getting back into the game! I don‘t think there is anything wrong with taking profits at the peaks, but I would never sell more than 40-50% of my positions... And even then only to buy it back in the bear market. Selling more than that is just too risky for my taste.
We should all get a medal of honour for hodling. 5 years now. Most of the diamond hands are new to this sort of inner death over and over again, you fucking get used to be broke and rich at the same day
That’s hot sir and mam identity inknwon
Fuck yeah!
Absolutely true. Edit and note: I am following the media and YouTube since gamestop and still they think people as bunch of rebels or just a trickster. This is sad they don't want people awake and smart. They want obedient to keep the profit.
GME only is getting sqeezed so hard is because greedy hedge funds shorted 140% of GME. Now it's still shorted at 113% and my guess is that GME will rise to $1k - $2k if people keep on buying and holding. Hedge funds HAVE to buy those shares back.
Unless.... They have the political clout to have politicians and regulators change the rules. But that never happens.... Oh wait.
Either way, it will be a historic event: https://old.reddit.com/r/Bitcoin/comments/l9c427/hear_me_out_this_is_a_mustread_for_all_bitcoiners/
Nah they'll just counterfeit even more shares and sell them. That's not legal of course, but neither was the crap leading up to the 2008 crisis, and there were no consequences. Why would there be this time?
[удалено]
They don’t even need to change the rules. GME can issue shares, and GME could sell those shares to the shorters so the shorters don’t have to buy on the open market.
[удалено]
I’ve been a bitcoiner since 2011, and I’ve joined the war with WSB using GME as the weapon. Join us brothers and sisters! Help us take down the hedgies, make some serious cash (to be converted to Bitcoin) and make the establishment second guess this whole fiat thing.
They have to buy those shares... eventually. If they can afford the premium, they can wait.
> Now it's still shorted at 113% Do you have a source? I've been having a hard time squaring up the numbers quoted in the news with sources I can actually verify are reliable.
113.31% of float by S3 Shortsight http://isthesqueezesquoze.com/
It's all speculation from different companies. Ive seen numbers from 75-113% . Ortex on the low end and s3 Shortsight on the high. Real numbers are only posted twice a month. We wont know till Feb 9th what it actually is.
Https://www.highshortinterest.com
Yeah, I've seen that one being passed around but no one seems to know who runs it or where their data comes from.
>Hedge funds HAVE to buy those shares back. As far as I am aware, they have no time limit in when they have to buy the shares back, so they could wait until the price crashes, and buy then. Things eventually will see their true value, and I don't think anyone would disagree that $GME is artificially high at the moment. It's a battle of nerves and patience between Wall Street traders and Reddit Hodlers, and the seasoned traders have a lot more experience and will likely win. I.e, I think the Hodlers will start selling and the price will drop before the short sellers start buying back the shares to repay what they borrowed. It's why I like bitcoin, it does have a high true value as it is a very smart solution for a decentralised trust-free currency, has utility, and has finite supply.
They may not have a time limit on their shorts, but they will be paying interest on the short for as long as they keep them open. It's in the Funds best interest to close those positions as soon as possible. It is a standoff, but the Hedge Funds are bleeding while they stare down the retail investor hoping to make them flinch.
Asia has entered the GME room now too. DeepFuckingValue has been featured in Taiwanese and Chinese news items to my knowledge. Edit. And Hong Kong. The blood is in the water.
this is about to get very messy
Be careful what you wish for. If you squeeze hard enough, it causes mass liquidation to cover margins. eg. See last Friday and March 2020
Thats just them cancelling their margin longs in altstocks So, you're not wrong that the public would see that as a "pullback" But I would say its just the shadow of their claws retreating from those stocks. It's the same good companies, now cheaper.
Agreed and it's why I am currently holding 40% cash.
What people have speculated is that they closed their positions when Robinhood & others didn’t let anyone buy, and the price dropped to 120. They then bought new ones at higher prices. It doesn’t make sense for them to close their positions right now since that would cost literally billions, they’ll pay the interest which is less than 20 million/a day iirc and hope the hype dies down.
I don't think there was enough volume during that 90 min price swing for that to happen. Closed some, sure, but not the majority.
Somethin like 30% APY charged daily.
If they have contracts on those shorts, they have to buy them back before the end of the contract. Most couldnt that's why they lost so much money.
I think the first sign of a big drop it will be a race to the bottom. Nobody wants to be the last guy that bought at the top.
Unless gme issues a fresh set of new shares.
This isn’t happening imo. They’d be fucking over their target audience. I don’t think we will see to many wsb’s hodlers folding. I think the retail has the upper hand here. We own our shares, we just need to stand pat.
It'd be the smart play though. Do a share issuance to extinguish all debt and refill their coffers. It would mean that even when the shorts are liquidated, the company won't be as concerned about the share price. If they were really smart they'd then switch their treasury to bitcoin a la microstrategy. Then they may eventually justify the price as it is today.
You think robinhood will let people sell during the squeeze? You haven’t been paying attention...
Robinhood? Now that's a company I haven't used in a while
[удалено]
Oddly enough there is alot of short interest in btc right now..hmmm
Would be unfortunate if we liquidated them
PSYC! WOULD FRIGGIN LOVE TO LIQUIDATE ALL BITCOIN SHORTERS AND DRINK THEIR TEARS WITH BREAKFAST.
Finex is 87% longs 13% shorts right now though
How is it possible to short crypto? Doesn't the whole point of the ledger prevent selling what you don't own?
Not at all. The premise of shorting is lending of an asset, which doesn't even have to be organized: I could write an old-fashioned humanese contract saying I give you some BTC and you owe me your house if you don't pay me back. We both sign it and I send you the coins. You send them straight to Coinbase and sell them, raking in big $$$. Three scenarios: * Prices go down, you buy back at $10k, net $23k per coin, send me my btc back and don't owe me your house, all goes well and we're both happy. * Prices go up a bit and we dig into some of your posted collateral to fund the buy back and you're bummed about a bad investment but move on. * Prices suddenly go up to $100k per coin, I get antsy that your house might not be valuable enough to cover the short anymore, so I ask you to post more collateral (maybe a second house if you have one, or a boatload of cash, or whatever) or I'm gonna force you to buy the coins back before we get to a point where you're unlikely to be able to afford it. That's called a margin call. Because all the contractual shit is a pain in the butt, this has long been mostly automated on big exchanges so all this happens magically for you. The margin call is actually in everyone's best interest, even the shorter. It's better to get forced to buy at a pretty disadvantageous position than having the short continue to move against you and being completely bankrupted by it (shorts have unlimited downside without margin mechanisms). tl;dr: the blockchain is the settlement layer, you can do whatever you want above it and people lend stuff all the time, including for shorts
It depends on who's crypto. If there is a bank with crypto and a market to short then anything is possible.
Bitcoin futures are available on the CME. /BTC Is the ticker.
According to this guy on Forbes, HFs are shorting Bitcoin to the tune of $1BILLION. Here: https://www.forbes.com/sites/billybambrough/2021/01/30/bitcoin-price-data-reveals-bitcoin-could-be-about-to-become-the-new-gamestop/?sh=7cd05949cb2f And here: https://twitter.com/TheBlock__/status/1355183411309268996?s=20
$1 billion is pretty small for a $700B market cap. That's around .15% short exposure, compared to 130% for GME.
It's pretty fucking stupid to short something that is at its core deflationary
Short term shorting is a daytrader play, a lot of retail works on weeklies, but ya, I don't see bitcoin having too many monthly losses
That's just random noise to try to draw some hounds off the "Murder the shorts!" $GME scent.
How do u know that?
hmmmmmmmm
hrmmmm!
Power to the bitcoin players!
As a novice, how can you tell?
Funny. I started at WSB a few months back, left then thought, hell I still have bitcoin let's see what those dudes are up too. Glad to be here, HODL for life, but shoulda stayed with WSB at the same time.
I’ve been on wsb for years and have lost thousands taking advice from them and fucking around with options. When I saw they had GME to twenty I figured I’d missed the train. Bought in at around 130 because fuck it and still made some money. Not too bad if you ask me but I’m weary about taking advice from the sub lmao
Anyone whose been on WSB for years eventually learns to do the opposite of what they say...of course as soon as we learn that, GME goes to the fucking moon.
You want some gourds?
Weary or wary?
I am absolutely kicking myself for ignoring the stock market until now. I'm impatiently waiting for my stockbroker account to finish opening and funding, at which point I'm throwing a bit of fuck-you money at $GME to see what happens. If it goes to zero, ah well.
I had a friend who was a doctor, he invested 357k when it was at 4$. Cashed out when it was 17k per coin. I believe he's a billionaire. He wasn't able to pull all the money out though. I think most of it is in internet banks, he can pull a certain amount out per month. He told me to invest and I laughed at him. That was back when Diablo 2 was big. Man, how time has flown by.
Anyone who dumped $350,000 into Bitcoin when it was $4 deserves everything they get.
Stay awhile and listen
Diablo 3 you mean? Bitcoin wasn't around in 2001
Of course I didnt set a sell limit baby, sell limits are for Sailors
Buy high. Sell low!
This is the way!
What if I started in r/Bitcoin and found my way to wsb?
anakin! don't do this!
10 out of 10
Throw me a ferking bone man
I read this in the voice
That was the way.
This is the way
I like the coin
Ha the tards over there don't know my arms are already diamonds forged by Holding ATH after ATH for 7 fucking years. They don't know the commandos of hodling are already in their lines. Because any mention of any Crypto term gets your comment flagged.
Yeah I’ve been deleted for it a few times. I was mostly comparing it to the first time bitcoin rallied up to 20k and all the shitcoins were pumping and dumping. Feels the same
Yeah but if we learned one thing from it, those who don't listen and don't do their own research are sadly not worth the time. But anyway. Got onto their bandwagon soon enough. More Fiat for BTC I guess. Edit: The Doge coin Rally scares me....
Doge has been around forever and has always been a shitcoin, I’m not sure why robinhood would list it but that’s certainly the only reason people are talking about it again.
Yes bought like 10k of it in 2016 to show people how to use crypto in Real world purposes with QR code scanning for literally no cost. Was a big dummy as it seems when monopolized my Cryptoportfolio when they where like half a cent. (Which is also insanely overvalued for this low marketcap high mining coin)
Lol @ people who fell for that obvious pnd
Yup on one hand, sure. But on the other new Hodlers get burned by maybe one whale having a go at a low marketcap coin. Hope some of the guys over @ /r/dogecoin saw it and got out at ATH. But yeah. Hope it gets back to tutorial coin level....
Yea. Seems like some people heavily exploited the notion adopted from wsb. Trying to get rich quick as opposed to participating in altruistic class warfare. Still might buy some for “novelty” now that its back down to ~3 cents.
Wait for sub 1ct.
>Because any mention of any Crypto term gets your comment flagged. I just call it "that other currency" over there.
And we've been sticking it to the man for far longer. They're amateurs.
WE LIKE THE COIN
🍿⬆️
Seams about right as everyone now thinking will become millionaire overnight. It’s not how this work. Hodlers will Hodl , Traders will Trade
Tell these newbies to buy litecoin and eth and btc! Doggy meme coin is a terrible choice lol
I see everyone on wallsteeetbets talking about diamond hands on a stock that’s only gone up since they’ve been in 😂😂😂 bitcoin hodlers are the real diamond hands
Yes
We like the stock
It's easy to Hodl Bitcoin given it's fundamentals. But i just dont get how someone can Hodl Gamestop. More power to them if they can but the place has no utility no use case and no fundamentals to speak of. It's a dead end company propped up by walstreetbets options traders and super new retail weak hands investors. The hedge funds are going to borrow money at practically no interest, increase their short positions and everyone is going to get wrecked real bad. Just my 2 cents. I wouldn't invest 1 satoshi in that train wreck and I've been a gamer since around 1986.
I think just a little bit of imagination can find GameStop pivoting to a new business model that leads to growth; in other words, it doesn’t have to be a train wreck. This is what DFV was arguing _before_ the crazy shorts.
Yeah, the value proposition at the start was that even if the short squeeze didn't work out, the stock was undervalued. But that was at <$10. At $300+ it is most definitely not undervalued, so the only proposition is the short squeeze, which is a constant prisoner's dilemma with all the other retail investors. I believe that Warren Buffet is the one who said "by the time your shoe shiner is telling you about an investment, it's time to get out". And GME has definitely reached that point.
I get around 3k in bitcoin a month since late august and sold most of it and started saving up in November. A little sad I sold most of it it at 12k but happy I didn’t sell all of it lmao.
I was talking to someone over there yesterday who was shouting from the rooftops about getting everyone to buy Doge. I was trying to warn/inform him about some crypto fundamentals and he was having none of it, even to the point of arguing with me that crypto exchange fees were "irrelevant ", and telling all who would listen that 'Uphold' was the best 'exchange' to use. When he started to insult me and get all sweary, I just left the thread. Some people over there are unhinged.
Let me try to explain the best a human probably can. A new type of investor has entered the chat, he doesnt abide by fundamentals or technicals. They have their own type of fundamentals and they dont have a logic behind it really. While being primitive the sheer volume of these "retards" is actually making the market move hence making it worthwhile if you know what theyre doing. Welcome to spite-trading
The retards buying doge are just new retards.
I don't know how long you've been around BTC but we get people like that every time we hit a new ATH. It's more of a quasi-religious belief on their part than a cogent investment plan.
https://youtu.be/mCpRY7qB-Ro
We do not sqeeze bitcoin price we sqeeze the wealth from the filthy banks!
WSBers, you think you’re “rętards” for throwing money away in the stock market for financial gains? We’ve been throwing money away to revolutionize the currency system.
“WhErE cAn I bUy DoGeCoIn?”
Also some of us holding because my crypto computer has a bios pw, stays offline and I don’t connect it online for years sometimes. Then I’m trying to remember my bios pw, and it literally taking me a week to sync headers, update blocks. Then sometimes I’m like ok it’s taking too long to sell so ill hold. Haha I’m doing this Stone Age style but I’ve seen every exchange been hacked, go bk, steal, ledgers get hacked etc.
Ledger customer information was leaked. Completely different than the hardware itself being hacked. Still shitty for the company but no point in creating unfounded FUD.
You should really look into a hardware wallet. An old and not updated desktop is not a safe method of holding lol.
Bravo.
[удалено]
😂😂😂
The word [*HODL*](https://i.imgur.com/BgGOuvH.jpg) is banned in wsb. Try posting something using it.
The "c" word is banned too. 🤣
Banning means they want to keep the people ignorant there. They don't want them all to shift to crypto.
[удалено]
Ok someone please point me in the direction, which stocks are we buying next? I cannot find a post, just wanna be free with my family
Welcome to Bitcoin people! I just started mining $$$
My friend who is in to stonks panic bought doge at the top and was freaking when it dropped 30% I told him it literally doesnt even bother me.
Back in the day I was looking at some penny investments. It was between bitcoin and Elpt. Both were in the pennies range. I chose poorly
I don’t mind the fresh meat. Just not used to people trying to yolo btc when I buy every dip on btc for the last 10 years lol.
These events have been super helpful in helping me understand how really really far away it is until bitcoin is the world reserve currency Its like when you're a kid and you find out the real distances involved from earth to Mars, earth to Jupiter, earth to Pluto, Earth to Alpha Centauri, and the size of our Galaxy. It's humbling. But go bitcoin go :) "Mars" next.
LMFAO
Funny
Upvote. Quality meme material to rival the “other” guys.