... complete the handle back to 42 and then boom time.
Maybe. But I don't think we're there yet for boom time. My theory: the whale(s) that got blown out of their short on 1/29, now has to make up their losses. Will push price above 38 to bait margin longs, then dump several K. |
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70 percent of Americans have less than $1,000 stashed away, according to GOBankingRates' 2019 savings survey. The poll, released December 16, revealed 45 percent have nothing saved. This is actually shocking... I'm not sure if BTC can help them at this point...  The poll likely shows that a large percentage has a lot of debt. Precisely why I call bullshit every time the media says that Average Joes are causing the Bitcoin price to shoot up. That ship sailed long ago. Average Joe is broke af. Just guppies now, along for the ride on the big wave.  |
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But...bbut...the media has spent nearly every day for the past 9 years saying Bitcoin was a scam, a fraud? That it had no future? Were they...lying to us?  |
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A successful, viable blockchain project is one where:
1) You absolutely need the blockchain part, and could not substitute another cleaner, faster, perhaps even cheaper tech to do it better or to replicate the same tech/functionality.
2) The token part serves some purpose other than a form of money or money transfer.
3) The solution is not still looking for a problem that either doesn't exist, or is not really a problem in the real world.
4) The solution is routinely used by hundreds of thousands of people and companies everyday around the world, 24/7/365. Because it is an awesome solution.
Most blockchain projects fail #1 and #2 right out of the gate.
All of them fail #3 and #4, even if they are "working".
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i give 10 merits if one can name me a working blockchain product. other than bitcoin.
Filecoin. @OP-Define 'working' first. A blockchain could be working with not many customers. Having customers is maybe more important than anything else. The original question has a wholly dismissive attitude anyway. You simply want to hear 'none', which is not exactly the case. i will check filecoin. with working i mean a sellable product. that gets sold. that has customers. and yes, the attitude is dismissive because i suspect that blockchain is just a database structure and not a technology all by itself. the sellable part should NOT be the token. Does bitcoin even meet this definition then? You're missing the point. Their mantra is "blockchain, not bitcoin" remember? Or perhaps, "blockchain, not token" because they believe the token part is irrelevant to the holier than thou blockchain tech. Yet they sell tokens anyway. And without the token they would have nothing. |
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And to think this "trading genius" was crying over losing $25K in Bitcoin... ...and then selling it all before it right before it did a three bagger. Lol.  |
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GME plummeted to ~$81.27 before rising back up again, now at $100. I saw some posts on WSB showing that this was observed during the Volkswagen short squeeze too. Could this be an indicator of anything, or just a dip?
yes  They shouldn’t wait for that squeeze ever to happen, but demand delivery of the share certificates. That’s what will blow up this whole thing.
wsb more or less says the gme thang may take only few days and physical paper certs would take too long to send and cash out. so hold in electronic form at a broker to cash out post hast if needed. most seem to be in for the fiat moneyz, not the paradigm shift that btc is. some will understand though. The most that were in for the fiat money went out for cash (at profit or loss) or switched to the hyped stocks WSB didn't originally even ask to buy (SLV, BB, NOK...). All the noobs made all the noob mistakes, completely opposed to what WSB advised them to do. Seems like the majority in the game are currently 1. diamond hands (either for the gains or hedge fonds revenge) 2. bag holders that hope to break even 3. institutions riding this wave 4. a small minority not covered in 1-3 I stayed. Same as with BTC. I am at quite a loss now, which i managed to minimize by watching pre-hours trend (-30% already at NYSE open), closed all positions but one share, waited until -30% hit on the market, re-bought with 1/3 of the liquidated amount, observed, re-bought with another third of fiat at -40%, and actually, because i had to leave the house, at -43% again. I will hold the 1 share position forever (this is for you, hedgies) and did not yet decide about the other positions. Well, i think as long as the price tanks further, i will keep holding. It's not much money, especially when i look at the BTC net worth of mine, but i still had to give up or delay some spendings of my future private life. This is "play money", i don't expect anything in terms of return. Overshorted hedgefunds can suck my lil boner in the form of my diamond handed GME shares. I am in for the paradigm shift, the shares are my trophy, and my statement to them. I said from the beginning: Paper hands, GTFO! Let the real dudes continue with the game. One of the best i played in years, honestly. Well look at it this way... if the WSB crowd can't manage stick it to the shorts, they've got a way to stick it to Uncle Sam. How? By writing off up to $3K in losses on their taxes this year. 2 million U.S. degenerate apes X $3,000 == $6 Billion in losses for the IRS.  |
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GME plummeted to ~$81.27 before rising back up again, now at $100. I saw some posts on WSB showing that this was observed during the Volkswagen short squeeze too. Could this be an indicator of anything, or just a dip?  IMHO? Complete hopium. There will be a lot of angry and depressed GME bag holders. |
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"We probably own way more of GME than we think and that is freaking out Wall Street because it could prove they've been up to some extremely illegal shit and the whole system could implode as a result."
Actually the bolded part of the conclusion of that poster is likely incorrect. The "We" (the WSB tribe) doesn't own those individual shares either. They've all been leased shares from a market maker, and each new account has probably been leased the same share multiple times over. Imagine multiple leases given out on shares that either did or didn't really exist in the first place? <Shudder> |
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GME, XRP, DOGE, and silver all falling back to earth. Squeezes and pump and dumps over, nothing to see here, move along.  what stops them from "leasing" the same stock multiple times? their honesty? ethics? Not. A. Damn. Thing. |
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It's a rickety system at best and a fraudulous scheme at worst.
Oh yeah, it's bad. When normies buy a stock share through an online brokerage account, they actually believe that they own that share of the company. Most would be shocked to know that all they did was "lease" it from a market maker. They don't own shit. "Never your cert, never your stonk." |
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As far as i have understood it: Robinhood is ONLY giving you a margin account. So they are allowed to liquidate your margin long position, if the prices moves against you.
The interesting part of these "Neobrokers" is just this conclusion: You never buy stocks there.
Not your certificate. Not your stonk. Did you know that you can't even get access to a stonk certificate that you own outright? Patrick Byrne, the once CEO of Overstock.com (a company he founded and owned) tried to get the actual certs for the stocks he owned. He wanted the physical documents in his hand. The DTCC gave him the run-around for months and months, and then finally told him to just drop it. True fucking story. |
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Had to look him up. Scott Galloway. Just another bleeding-heart professor who likes to talk out of his ass. "Galloway is well-known for making bold proclamations and taking positions on the future performance of companies while often being remarkably incorrect in his assessments. Despite becoming well-regarded on television and other media outlets for being a business strategist and leader, his advice and guidance on public equities is regularly incorrect. His notable recent predictions include, at various points, predicting the downfall of Lyft, Tesla, Pinterest, Snap, Twitter, Peloton, Slack, and Uber, all of which have improved in price and outperformed market indices since his prediction."
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While gobs of dumb money is off chasing meme stonks, SLV, shitcoins, and other various pumps....
...smart money will be quietly accumulating Bitcoin on the down low.
Maybe this was the mother of all diversions for 2021?
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(Hypothetical reply, just to keep you going. I still am not clear what you think is going on.)
Probably all the shenanigans you posted, plus others that we pleebs aren't privy to. |
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In your opinion, what are they using this extra cash for? - Paying interest on borrowed (shorted) stock. - Actually unrolling the shorts and buying up, swallowing losses (but the price apparently drifts down, therefore unlikely). - Reinstating some of the long positions they unrolled to pay up last week. - Playing tricks (short ladders) trying to push down the price, hoping to ultimately win - but at the same time adding rope to be hanged with if they fail. - Something I haven't thought of, which is probably even more devious. They claim the $2.4B ask was because the clearing house hit them up with a $3B bill for extra reserve collateral. Which they then claim that they negotiated down it to a mere $700M. To that I would then ask, "So what was the other $1.7B needed for then? Hmmm?" |
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The moment there is any kind of serious price movement any mine which has been dormant for years will be revisited and people will start digging again any mine operating now will have triple quadruple shifts, any pawn shop, second hand deal will start dedusting the junk which stood around for years and years, people been investing and talked into by Peter Schiff and his shills to get some as its undervalued, they watch with eagle eyes ready to finally dump. If things would go really crazy people would just go to the nearest shop buy some silver cutlery and take it strait to the bullion dealer for quick profit. Shops would not re-adjust price fast enough to new crazy price. People would remember granny's old whatever and start searching in roof-space, cellar, garage to cash in on the bonanza. Just about anyone has some junk silver to sell, number of people with right stock is small and most not selling in a hurry because they know at some stage shorters have to close and buy to do so. Incidentally what you describe is exactly what happened in 2010-2011. I even heard stories that dealers were going door to door asking people if they had any silver they wanted to sell (not sure if true tho). |
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