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

[Elwar]

Can you imagine working in Gamestop HQ. Your stores have been closed for a year due to a plandemic and your stock is way down...facing bankruptcy, you see the writing on the wall when a major hedge fund known for killing companies shorts the shit out of your stock and starts having their media puppets talk about how worthless your stock is...
You sit there at the office, go on Monster.com to find another job, you start packing up your personal items so you don't have to worry about them later, you check in on your co-workers that will probably have a hard time finding another job...

Then you come into work the next day and find out that some random reddit posts are turning your company into the next Google.

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[Torque]

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.

This makes me happy. I know people say their business model is dying, but hopefully now they will have a second chance to figure out their future and thrive.

A world where you could only download/stream your games through the mega corp likes of XBox Cloud, Stadia, or Apple TV would be a very sad world indeed.

[lightfoot]

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.

You all DO remember that this is the same company that bought ThinkGeek and ran it into the ground.....

Oi.

[LFC_Bitcoin]

$32,000 to $36,000, round & round we go.

I guess we stay in this range for a while with the odd brief breakout either way which is short lived before returning to the range above.

Boring, wake me up at $50,000.

[bitcoinPsycho]

Another way to extract your precious Bitcoin

[El duderino_]

[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...")

I'm fine too, or so I think, am I fine probably yes, would it be better if I could sit in a restaurant with a table full of people that I like yeah for sure, or on holiday sipping cocktails, rosé wines in some sunny days .... Damn miss those things.

[yefi]

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

Why don't the brokerages pull a Gox and issue retailers shares that don't exist? They lent phantom stock for naked short-selling, so why not take the fraud to the next level.

[Millionero]

We need more people like Elon Musk.

Impossibru!  Onry one Eron Muksu!

[HeRetiK]

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.

Funnily enough that already kinda happened with AMC. Since AMC was also affected by the meme stock rally, they were able to convert some of their bonds to stocks and wipe away USD 600,- MM in debt. GameStop as a company might eventually profit from this rally as well.

Keep in mind that the GameStop rally didn't come out of nowhere. Part of it was caused by Ryan Cohen entering the game in 2020, with him and 2 other former Chewy executives becoming board members earlier this year with the goal of turning the ship around. That short squeeze attempt we are seeing now is merely an escalation of a long waged war between r/wallstreetbets and various hedge funds. Meaning after this all blows over GameStop could actually make good use of the new found capital due to new leadership.


(on a sidenote: I also have a bit of skin in the game but I'm gonna blame Bitcoin for it. With Bitcoin going sideways for ages now, where else am I gonna get my hit of volatility?)

[rolling]

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

Why don't the brokerages pull a Gox and issue retailers shares that don't exist? They lent phantom stock for naked short-selling, so why not take the fraud to the next level.

That's probably exactly what Robinhood did. Then the price went 10x and bankrupted them.

[Krubster]

LOL, listen to this crybaby.

https://digg.com/2021/leon-cooperman-cnbc-gamestop-stock-price-interview

Hedge fund billionaire Leon Cooperman went on CNBC to decry the Reddit-fueled frenzy that's currently sending shockwaves through the trading markets. The irate businessman said that people who are sitting at home and trading stocks using government checks was a "bullshit concept" and "a way of attacking wealthy people."

This does it. I haven't been into stocks for many years, but I'm buying GME on Monday to show my support. I too can stay retarded longer that those hedge funds can stay solvent. These diamond hands have practiced hodling for many years.

[Torque]

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

Why don't the brokerages pull a Gox and issue retailers shares that don't exist? They lent phantom stock for naked short-selling, so why not take the fraud to the next level.

That's probably exactly what Robinhood did. Then the price went 10x and bankrupted them.

There's probably a whole lot more shady, illegal shit they can do: flood the float with phantom shares, suspend or zero out short interest payment, liquidate existing holders, etc. But now there's more scrutiny, so much so that even the SEC would have a hard time turning a blind eye to any more shenanigans that benefit the shorts or RH.

[FIFA worldcup]

This day will come soon  

[friends1980]

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.

This makes me happy. I know people say their business model is dying, but hopefully now they will have a second chance to figure out their future and thrive.

A world where you could only download/stream your games through the mega corp likes of XBox Cloud, Stadia, or Apple TV would be a very sad world indeed.

Seriously mate, this has nothing to do with Gamestop. Gamestop has around 5500 shops worldwide, so in case you forgot: Gamestop is a mega corp, too, albeit one with a dying business model. Gamestop was only the object used to bring a loud and clear message to shorters that they've reached a border which they shouldn't cross, and that enough is enough. Rightfully so.

So the message was: we hate shorters [edit: abusing their power], and not: we love Gamestop.

Do you really think we should keep shops selling games physically opened, and stop streaming games and movies and instead go back to cartridges and VHS or so (which will, by the way, again, be produced by mega corps)?

And no, I don't like corps either - at all, which I've made clear often enough in the last 3 years on these boards, at least when they have too much power and when there's abuse of power. But let's not confuse things here.

[Torque]

LOL, listen to this crybaby.

https://digg.com/2021/leon-cooperman-cnbc-gamestop-stock-price-interview

Hedge fund billionaire Leon Cooperman went on CNBC to decry the Reddit-fueled frenzy that's currently sending shockwaves through the trading markets. The irate businessman said that people who are sitting at home and trading stocks using government checks was a "bullshit concept" and "a way of attacking wealthy people."

This does it. I haven't been into stocks for many years, but I'm buying GME on Monday to show my support. I too can stay retarded longer that those hedge funds can stay solvent. These diamond hands have practiced hodling for many years.

He probably hates Bitcoin and bitcoiners as well. Fucking dinosaur yelling at the sky.

[rolling]

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.

This makes me happy. I know people say their business model is dying, but hopefully now they will have a second chance to figure out their future and thrive.

A world where you could only download/stream your games through the mega corp likes of XBox Cloud, Stadia, or Apple TV would be a very sad world indeed.

Seriously mate, this has nothing to do with Gamestop. Gamestop has around 5500 shops worldwide, so in case you forgot: Gamestop is a mega corp, too, albeit one with a dying business model. Gamestop was only the object used to bring a loud and clear message to shorters that they've reached a border which they shouldn't cross, and that enough is enough. Rightfully so.

So the message was: we hate shorters (with some nuance, of course), and not: we love Gamestop.

Do you really think we should keep shops selling games physically opened, and stop streaming games and movies and instead go back to cartridges and VHS or so (which will, by the way, again, be produced by mega corps)?

And no, I don't like corps either - at all, which I've made clear often enough in the last 3 years on these boards, at least when it comes to a discussion about power and abuse of power. But let's not confuse things here.

It doesn't matter what the original intent was, these things have a life of their own. Gamestop is now a mega corp that can create whatever business model it wants going forward.

[Torque]

Do you really think we should keep shops selling games physically opened, and stop streaming games and movies and instead go back to cartridges and VHS or so (which will, by the way, again, be produced by mega corps)?

I never said that. I said choice is good. Options are good.

Having only 1-3 mega corps where they have a complete monopoly where you are forced to download all your movies and games from is not good.

Btw, Gamestop employees 14,000 full-time and 22,000-42,000 part-time workers worldwide. If it goes away, all those people lose their jobs.

But I guess what's another several tens of thousands of unemployed people amidst tens of millions already, amirite?

[JayJuanGee]

Good Morning... BTC at 33k Basically no resistents on the way down... What a fuckery fuck... With this, we don't see 40k soon. No breakout at all. I wouldn't wonder, when we went next under 30k because nobody cared about the 34,5k as a support, after we went through it.
Let see what the Feb has to offer.

Your statement is confusing.

When we talk about down, we talk about support, and when we talk about up, we talk about resistance.

So, you have some kind of fear that the support at $33k is not going to hold?  And, why does it matter?

Yes.  The price might go below $33k and it might even go down to $20k or lower... who cares?  If it goes down, buy more.  If it does not go down, then still buy more if you do not have enough.  If you are afraid of the BTC price going down, just sell everything and forget about it because we are going to experience plenty of ups and downs along the way, so each of us should be prepared for that both psychologically and financially... but there sure are no certainties in either price direction.. especially in the short term.

Regarding seeing $40k soon.  Maybe we will and maybe we won't.  Again, so fucking what?  Sure it would be nice to see $40k soon, but does it really matter in the whole scheme of things whether we see it within the next few weeks or the next few months - presuming that it is coming sooner or later?

I am not going to be surprised either way... There are enough shorts out there to squeeze the fuck out of, so it could happen a lot sooner than you think, but in any event good to be prepared for it, even if you don't believe that it is going to happen.

Good Morning... BTC at 33k Basically no resistents on the way down... What a fuckery fuck... With this, we don't see 40k soon. No breakout at all. I wouldn't wonder, when we went next under 30k because nobody cared about the 34,5k as a support, after we went through it.
Let see what the Feb has to offer.

Get over it, bro! You'll never buy back your bitcoins at the price you've sold. Your destiny is to be a nocoiner!

becoin seems to have summed up your situation much more concisely than me.    

Good Morning... BTC at 33k Basically no resistents on the way down... What a fuckery fuck... With this, we don't see 40k soon. No breakout at all. I wouldn't wonder, when we went next under 30k because nobody cared about the 34,5k as a support, after we went through it.
Let see what the Feb has to offer.

Get over it, bro! You'll never buy back your bitcoins at the price you've sold. Your destiny is to be a nocoiner!

Sweet sugarbear #very-super-homo-only-for-you, I am hodling.(maybe even longer than you, who knows) I did sold once a little amount for a sad price to buy a new car for my dad (2018). I will never be a no coiner. But I want an Urus and this fuckery fuck from yesterday hurt my hodler feelings. Yes, I can express my feelings about that. There was basically no support when we went down. Which is sad, because I hoped for a 40k...

So my sweet sweet sugar bear (double extra super Homo for you only)... My target is moon, as yours. But the bulls disappoint me yesterday. I would be so nice to stay above the resistence (34,5k), so moon will be near, but the bull have failed this chance. So I am. No enthusiastic about 40k and moon, soon.

I will always HODL (with a little selling for some luxary stuff, like houses or an Urus)... But yesterday hurt my feelings.

So busy on belly extra homo only for you.

Again... making little sense to be becoming so emotional over some wee bit ant price moves of a mere $6.6k up and 5.5k down.. So what?  Even bob is showing more emotional fortitude than you (so far.. never know Bob's gonna crack) with your supposed and purported HODL powers.. 

[rolling]

Do you really think we should keep shops selling games physically opened, and stop streaming games and movies and instead go back to cartridges and VHS or so (which will, by the way, again, be produced by mega corps)?

Yes, we should keep every brick and mortar store of any kind open. These are the lifeblood of the economy and society. Most people are never going to be able to fill high tech jobs. We need stores that dumb people can work at so they don't have time to commit crime and can feel like they're doing something productive. That's the way to a peaceful society. Streaming is fine when you're feeling especially lazy and depressed but getting off your ass and going to the store is better for everyone.

Also, everyone who hates mega corporations should stop using any product or service offered by the Facebook, Apple, Amazon, Netflix and Google.

[friends1980]

Do you really think we should keep shops selling games physically opened, and stop streaming games and movies and instead go back to cartridges and VHS or so (which will, by the way, again, be produced by mega corps)?

I never said that. I said choice is good. Options are good.

Having only 1-3 mega corps where they have a complete monopoly where you are forced to download all your movies and games is not good.

Btw, Gamestop employees 14,000 full-time and 22,000-42,000 part-time workers worldwide. If it goes away all those people lose their jobs.

But I guess what's another several tens of thousands of unemployed people amidst tens of millions already, amirite?

' course not and I concur: every job lost is a shame and the more options customers have, the better. You don't think I applaud job loss and monopolies, right? But that's not the point here and that's not what WSB wanted to protest against.

Some people suddenly seem to faint with ecstasy whenever someone pronounces the name "Gamestop".

This is not about Gamestop, this is about shorters using their influence to artificially push prices down even further. It's about abuse of power. And that's indeed unacceptable.