Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Millionero]

GameStop has better fundamentals than a lot of people want to think.

The company sells just the kind of products that people are looking for to alleviate the ennui of pandemic confinement.
GameStop has a new CEO and management team with exactly the experience needed to navigate GameStop's transition from brick and mortar to online sales.
Better fourth quarter earnings than expected.

Some took a cursory glance at GameStop and thought, oh, brick and mortar like Blockbuster; that's so twentieth century.  Short!
Now little guys have hedge fund hot-shots by the short hairs.
See what I did there?

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[El duderino_]

We need more people like Elon Musk.
The world would be a better place if there were more like him.

This is regardless of his stance on Bitcoin.

Follow you on that one

[serveria.com]

still an another prove that mindrust didn't understand the bigger picture or don't care about it. 

he deserves to be a NOCOINER.

The hedge funds that shorted the stock to a technically unsustainable level are getting what they deserve. However, the same goes for the idiots who are still buying the stock. GME isn't worth $400 a share and in all likelihood will never be worth $400 a share.  A collapse is all but guaranteed.  Right now there is still to much hype driving the buy side, but this will lose momentum over time for the simple fact that people sitting on huge paper gains can't realize them without selling. Just as the buildup gained momentum, eventually the opposite will happen and the collapse will build momentum.  One thing remains invariably true- anyone who loses money trading this absolutely deserves it.

If I had a RH account right now i would short the fuck out of that stock. I don't give af if that's a riot against the hedge funds or the financial system. That screams free money. They were aiming for $300-500 at first and then they started screaming $1000 lately i see them if they want to pump this to $60k because they calculated the whole wall street would go bust if they do so. What kind of drugs are they taking again?

If they want to wreck the wall street why don't they long gold? If all those people were longing gold instead that would cause much more harm.

As you said the company is initially worthless. Even if they pump it to $100k eventually it will return to 0.

Haha he's got lots of experience with successful shorting...  

[marcus_of_augustus]

the crooks/idiots were shorting 140% of the share float .... they can't all get out together even if they wanted to (down to 120% on Friday close) the main part of the squeeze hasn't happened yet

r/wallstbets has their foot on the throat, new buys increase the hedge funds losses, so they are liquidating longs in big caps to cover margin calls .... has systemic implications at some point, they broke the rigged game by taking it to it's absurd extreme, reductio ad absurdum, GameStopped it, quant models exploding everywhere, AI didn't see irrational autists on the horizon

[fillippone]

Hey WO Gang.
I have been busy lately, and not closely following this thread as I would have liked.

Any news about @LastoftheV8’s?



https://bpip.org/Profile?p=Last%20of%20the%20V8s

I know he was off on a road trip? Did he stay away more because he could stretch the trip due to increased funds thanks to the BTC rally?
Maybe he went dark because opsec?

[friends1980]

The name Elon Musk
Sounds just like Fleetwood Mac's Tusk
Also rhymes with dusk.

Just so you know.

[El duderino_]

Hey WO Gang.
I have been busy lately, and not closely following this thread as I would have liked.

Any news about @LastoftheV8’s?



https://bpip.org/Profile?p=Last%20of%20the%20V8s

I know he was off on a road trip? Did he stay away more because he could stretch the trip due to increased funds thanks to the BTC rally?
Maybe he went dark because opsec?

The brother is fine.... thx for asking

[Gyrsur]

https://twitter.com/chamath/status/1355379667964813313

[FIFA worldcup]

[BobLawblaw]

[The brother is fine

I mean, on some level, I'm fine too, but everything is relative. Amirite ?

The sped should stay in seclusion.

("Goddamnit, there you go again Bob. You said you were going to work on being a calmer, more excellent dude this year. Don't go down that path... man...")

[brokedummy]

Yesterday was a sad day for me. I always hodl when I should have sodl, but onetime I sodl when I should have hodl. So hodl I must.

[savetherainforest]

Yesterday was a sad day for me. I always hodl when I should have sodl, but onetime I sodl when I should have hodl. So hodl I must.

You played with dodge... didn't ya!??

[rolling]

https://twitter.com/chamath/status/1355379667964813313

I'm glad he's spreading the word about this. Those 24 or 48 hours let the hedge funds escape. The good news is, this isn't over yet.

There were a ton of naked calls in the money yesterday which means the sellers of the calls have to buy the stock on the open market over the next few sessions to deliver to the holders of the options who want delivery.

This will push the price up again this next week and start the whole cycle over again. If the market is allowed to operate normally, this could be an epic week. Most people have signed up for other brokerages so Robinhood will be less of an issue.

On a side note. GameStop is not going anywhere. Bankruptcy is off the table. They have 60 million plus shares in their treasury that they bought back in 2019 for <$5 a share. Even if they just sold a portion at the recent prices, they can fund their operations for years.

If they sell all of them, it wouldn't help the shorts. It would still be the most heavily shorted stock in the market and it would have 18 billion plus in the bank to become a tech giant. The cash value alone of the company would be $150+ a share.

[brokedummy]

Yesterday was a sad day for me. I always hodl when I should have sodl, but onetime I sodl when I should have hodl. So hodl I must.

You played with dodge... didn't ya!??

I did had left $5 on robinghood to put into doge but mostly it's the fact I haven't sold any btc in 2021, 2020 or 2019 and there have been several missed opportunities to sell high and buy back to increase my holdings and then the one time I tried back in 2017 I lost half my coins.

[Sayeds56]

Hey WO, as you can see from my name, I am the 3 millionth user on this beautiful forum, as evidenced by my Custom Title: Yes, really. In the very near future, I am going to study the details of signing and verifying messages using Bitcoin and also want to learn more about PGP. If you think there is something else I should pay attention to, feel free to say.

Having looked through many sections on the forum, I have not found a more interesting thread than this. I love your heated discussions, especially how you combine Bitcoin discussions with memes. Folks, I love your custom hats and I want one for myself, therefore, I firmly decided to become part of your friendly team.

Bitcoin HODL!

You are most welcome on forum. Please always follow the Rules of the forum. That is the key of success.
For more information: https://bitcointalk.org/index.php?topic=703657.0

[machasm]

Yesterday was a sad day for me. I always hodl when I should have sodl, but onetime I sodl when I should have hodl. So hodl I must.

You played with dodge... didn't ya!??

I did had left $5 on robinghood to put into doge but mostly it's the fact I haven't sold any btc in 2021, 2020 or 2019 and there have been several missed opportunities to sell high and buy back to increase my holdings and then the one time I tried back in 2017 I lost half my coins.

Isnt that telling you something?
Don't act on emotion.
Have a strategy.

[Gyrsur]

https://twitter.com/chamath/status/1355379667964813313

I'm glad he's spreading the word about this. Those 24 or 48 hours let the hedge funds escape. The good news is, this isn't over yet.

There were a ton of naked calls in the money yesterday which means the sellers of the calls have to buy the stock on the open market over the next few sessions to deliver to the holders of the options who want delivery.

This will push the price up again this next week and start the whole cycle over again. If the market is allowed to operate normally, this could be an epic week. Most people have signed up for other brokerages so Robinhood will be less of an issue.

On a side note. GameStop is not going anywhere. Bankruptcy is off the table. They have 60 million plus shares in their treasury that they bought back in 2019 for $5 a share. Even if they just sold a portion at the recent prices, they can fund their operations for years.

If they sell all of them, it wouldn't help the shorts. It would still be the most heavily shorted stock in the market and it would have 18 billion plus in the bank to become a tech giant. The cash value alone of the company would be $150+ a share.

+1 WO sMerit

I want to support it too. For a non U.S. resident I've read Charles Schwab or Tastyworks would be a good option to open an U.S. brokerage account.

[Gyrsur]

does anybody know on which U.S. marketplaces a HF is allowed to trade with:

a) physical BTC (spot)
b) Futures on BTC (derivatives)
c) Options on BTC (derivatives)

found on the first look LedgerX.

anyone?

unfortunately for an account on LedgerX or Gemini you have to be an U.S. resident.

do I have to establish an U.S. LLC for getting an account there?  

[AlcoHoDL]

still an another prove that mindrust didn't understand the bigger picture or don't care about it.  

he deserves to be a NOCOINER.

The hedge funds that shorted the stock to a technically unsustainable level are getting what they deserve. However, the same goes for the idiots who are still buying the stock. GME isn't worth $400 a share and in all likelihood will never be worth $400 a share.  A collapse is all but guaranteed.  Right now there is still to much hype driving the buy side, but this will lose momentum over time for the simple fact that people sitting on huge paper gains can't realize them without selling. Just as the buildup gained momentum, eventually the opposite will happen and the collapse will build momentum.  One thing remains invariably true- anyone who loses money trading this absolutely deserves it.

If I had a RH account right now i would short the fuck out of that stock. I don't give af if that's a riot against the hedge funds or the financial system. That screams free money. They were aiming for $300-500 at first and then they started screaming $1000 lately i see them if they want to pump this to $60k because they calculated the whole wall street would go bust if they do so. What kind of drugs are they taking again?

If they want to wreck the wall street why don't they long gold? If all those people were longing gold instead that would cause much more harm.

As you said the company is initially worthless. Even if they pump it to $100k eventually it will return to 0.

I'm sure he would say exactly the same thing about Bitcoin. He really wants everything to collapse to zero, so that his predictions come true. That's what selfishness can do to you...

Still, I wish him well. May he have the mental strength to accept what's coming. It's going to be very difficult for a nocoiner who used to own 10 BTC to maintain his sanity a couple of years from now... It's going to be torture, and I wouldn't wish this on anyone.

[Elwar]

I almost want to open a Gamestop now.

They could take this influx of money and turn it into something amazing for the gaming industry.

Or instead of going to the mall you go to the Gamestop.