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

[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)?

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.

I use NOT ONE of the services you mentioned.

It's not the point as I said above and forget my reply, I got seduced into replying to your remarks which are irrelevant to the subject, and therefore am taking it back.

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[aesma]

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.

Did they sell any share ?

I was thinking of a similar company in France, Micromania, and discovered in the process that it was owned by GameStop ! I haven't set foot in one for over a decade...

[Hhampuz]

Fuck gamestop in the arse, they always tried to scam me as a kid when I bought a few games, some I didn't even play, and they offered me like 10% only for me to come back in a few days and see they sold it at 90%.

Fuck 'em!

[Torque]

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.

No I agree, and I think most people, even the degenerates on WSB know what it's all about. It's become Occupy Wall Street 2.0 in cyberspace. Most of the them don't really care about Gamestop the company.

But funny thing though, no one seems to care when Wall Street hitches all the hedge fund wagons and indexes to a few FAANG stocks, and then has the Fed give the CBs trillions in free money to continue pumping those few stocks to the moon. Just as corrupt a situation, if not more so. It's collusion of the highest order.

[lightfoot]

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 called a "bucket shop", totally been done before. Pretty good fraud profit to be honest.

[JayJuanGee]

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...  

He's talking a BIG game, and apparently has not learned the value of incrementalism (and even moderation).. but whatever, we had already realized that he became a bit of a lost cause last March.. and such a lost status is not really going to get better on its own.. when there was a self-induced derangement that was likely in need of dire intervention much greater than anyone on an interweb forum (thread) such as this one was able to provide.

[lightfoot]

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.

No I agree, and I think most people, even the degenerates on WSB know what it's all about. It's become Occupy Wall Street 2.0 in cyberspace.

But funny thing though, no one seems to care when Wall Street hitches all the hedge fund wagons and indexes to a few FAANG stocks, and then has the Fed give the CBs trillions in free money to continue pumping those few stocks to the moon. Just as corrupt a situation, if not more so. It's collusion of the highest order.

I'm sorry Torque, Elwar, and others: I think this is "all about" a simple pump and dump married with a warped assed sense of "social justice". Feelings are a commodity like corn or oil, and in this case feelings of "rage" are being cashed into pumps and dumps across the financial spectrum.

In the old days the hucksters would have to call you on the phone from a suckers' list and pitch you pink sheet stocks that you buy, price goes up a bit, they sell, you're left with worthless crap. Back then the hook would be greed, stupidity, maybe religious fervor (your church could get a new steeple! Or more clubs to bash Gay people!). Shit they made movies about this con game.

But now... Now it's "different". Now you can profit off peoples' rage and lack of willingness to do anything about it. Instead you can get them to crowdfund a "cause", stick it to the "man" and all the while the shares you bought go off to the moon. "Look, he's honest, he has a hundred million in shares and *only* cashed out 5m!".

Much like Occupy people were fucked, and Q-Anon people were fucked, these guys will be fucked. But the trick is the exit strategy in this con counts on these people saying "Well I lost my $100 but at least I was able to stick it to the MAN!!!" And they will be happy and the instigators will get their money.

Maybe it's even worth it in some twisted way....

[friends1980]

Maybe it's even worth it in some twisted way....

Of course it is and it's called integrity, worth a lot more than $100. What's $ anyway?

[rolling]

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.

No I agree, and I think most people, even the degenerates on WSB know what it's all about. It's become Occupy Wall Street 2.0 in cyberspace.

But funny thing though, no one seems to care when Wall Street hitches all the hedge fund wagons and indexes to a few FAANG stocks, and then has the Fed give the CBs trillions in free money to continue pumping those few stocks to the moon. Just as corrupt a situation, if not more so. It's collusion of the highest order.

I'm sorry Torque, Elwar, and others: I think this is "all about" a simple pump and dump married with a warped assed sense of "social justice". Feelings are a commodity like corn or oil, and in this case feelings of "rage" are being cashed into pumps and dumps across the financial spectrum.

In the old days the hucksters would have to call you on the phone from a suckers' list and pitch you pink sheet stocks that you buy, price goes up a bit, they sell, you're left with worthless crap. Back then the hook would be greed, stupidity, maybe religious fervor (your church could get a new steeple! Or more clubs to bash Gay people!). Shit they made movies about this con game.

But now... Now it's "different". Now you can profit off peoples' rage and lack of willingness to do anything about it. Instead you can get them to crowdfund a "cause", stick it to the "man" and all the while the shares you bought go off to the moon. "Look, he's honest, he has a hundred million in shares and *only* cashed out 5m!".

Much like Occupy people were fucked, and Q-Anon people were fucked, these guys will be fucked. But the trick is the exit strategy in this con counts on these people saying "Well I lost my $100 but at least I was able to stick it to the MAN!!!" And they will be happy and the instigators will get their money.

Maybe it's even worth it in some twisted way....

All true but in this case, because of how much is shorted and how much the company holds, this is very good financially for Gamestop the company as well. In the process of pumping GME for "insert reason", the internet has created a behemoth that won't easily dump. It is likely a pump and dump without the dump part.

Gamestop the company doesn't have to get permission to issue new shares to make billions off of this. They can sell the shares they currently hold and instantly become a major company that can't be dumped. It's even possible they already have a deal in place worth billions. We will probably find out on Monday as their fiscal year ends on Sunday and they will be allowed to make public statements again.

I get that this wasn't the intent of the pumpers but life has a funny way of changing what you intended into something you never intended.

[Torque]

I'm sorry Torque, Elwar, and others: I think this is "all about" a simple pump and dump married with a warped assed sense of "social justice". Feelings are a commodity like corn or oil, and in this case feelings of "rage" are being cashed into pumps and dumps across the financial spectrum.

In the old days the hucksters would have to call you on the phone from a suckers' list and pitch you pink sheet stocks that you buy, price goes up a bit, they sell, you're left with worthless crap. Back then the hook would be greed, stupidity, maybe religious fervor (your church could get a new steeple! Or more clubs to bash Gay people!). Shit they made movies about this con game.

But now... Now it's "different". Now you can profit off peoples' rage and lack of willingness to do anything about it. Instead you can get them to crowdfund a "cause", stick it to the "man" and all the while the shares you bought go off to the moon. "Look, he's honest, he has a hundred million in shares and *only* cashed out 5m!".

Much like Occupy people were fucked, and Q-Anon people were fucked, these guys will be fucked. But the trick is the exit strategy in this con counts on these people saying "Well I lost my $100 but at least I was able to stick it to the MAN!!!" And they will be happy and the instigators will get their money.

Maybe it's even worth it in some twisted way....

I can't say I agree with you that this whole GME thing was a PnD engineered by ruthless traders from the very beginning. If so, IMHO the bubble would have popped by now as the scammers would have sold off and ridden into the sunset.

But I will say that your observations and thoughts are fairly prescient.

Will there be other, out of the blue pump and dumps of various stocks, perhaps penny stocks even, in collusion with the MSM printing fake headlines such as "Now the WSB crowd is turning its sights on _________ (fill in the blank X/Y/Z company)" ? Will there be fresh attempts to get the WSB / RH tribe mislead into other PnD traps and scams, all in the name of "social justice"? (Note: already happening, just look at all the buzz around silver). Or will they try to fractionalize the whole WSB group across multiple scams, in order to splinter their combined purchasing power/strength and rob them of influence? In order to marginalize them and make them irrelevant?

Yeah, I believe it will happen. All of it.

Because at the end of the day, dumb money is still just that: dumb. And the ruthless traders know that.

[El duderino_]

[PhoenixZephyrus]

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.

But there should be choice in the market for everything. Competition and variety of choice benefits the customer. Think about it like this...moving over to an all-streaming model has the same limitations that people face when moving to all-streaming models for TV shows and movies. A LOT of content is geo-restricted in many countries for streaming, while still being available for buying at a local Blu-Ray store. Lots of copyright issues and restrictions, not being able to watch stuff offline, only being able to download X number of episodes per X shows per X number of days. It's all becoming increasingly bullshit.

You want to watch A show, its on Netflix. Oh you like B? Hulu for that, no-go on Netflix. C? Well Disney+ for that. This is the exact problem the streaming services set out to solve, that was the problem that forced people to switch over from cable. Many services offer movies for rental at even same prices that cost to just buy the bluray. Wouldn't you like having access to stuff when you're offline, and keep having access instead of paying X, Y, Z amount of money to each streaming and rental services? Plex family servers would go out of use.

As for games, there are a lot of games whose creators have stopped maintaining the servers and the only way to play them is to play on privately-maintained servers by players. Moving to a Stadia-like model (streaming games) will eliminate that, not to mention that even the fact that I can play in my free time or not would depend upon how Stadia's servers are working at that moment and how much of the bandwidth is saturated. Currently, the solutions aren't feasible at all.

That's not to say we should just stop streaming. It's convenient. Just that we should have options imho.

[jojo69]

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.

[Hhampuz]

As far as I can tell we had the options with Gamestop being open for so many years, until it got worse, and they had to close shop after shop because the demand wasn't there. Which is why they've had negative results for years now and bleeding money.. But hey, let the market decide (and if they decide "wrong" - damn you!)

[Biodom]

hey, it could stay retarded longer than someone can stay solvent.
we already know that.

RH has to be made bankrupt, though...if I can dream...
Not before sonnie withdraws his few hundred bucks out of there, though.
He already asked me about the doggie-coin, lol.
You can't teach your progeny or at least I can't-they have to make their own mistakes.

[PhoenixZephyrus]

As far as I can tell we had the options with Gamestop being open for so many years, until it got worse, and they had to close shop after shop because the demand wasn't there. Which is why they've had negative results for years now and bleeding money.. But hey, let the market decide (and if they decide "wrong" - damn you!)

Not saying GameStop in particular should be the one to rise/remain in business, their business probably fell and started bleeding money due to a reason. I just disagree with saying that we should just stop having/using physical copies of games/movies and switch to all streaming, with so many anti-consumer practices in the market.

[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)?

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.

But there should be choice in the market for everything. Competition and variety of choice benefits the customer. Think about it like this...moving over to an all-streaming model has the same limitations that people face when moving to all-streaming models for TV shows and movies. A LOT of content is geo-restricted in many countries for streaming, while still being available for buying at a local Blu-Ray store. Lots of copyright issues and restrictions, not being able to watch stuff offline, only being able to download X number of episodes per X shows per X number of days. It's all becoming increasingly bullshit.

You want to watch A show, its on Netflix. Oh you like B? Hulu for that, no-go on Netflix. C? Well Disney+ for that. This is the exact problem the streaming services set out to solve, that was the problem that forced people to switch over from cable. Many services offer movies for rental at even same prices that cost to just buy the bluray. Wouldn't you like having access to stuff when you're offline, and keep having access instead of paying X, Y, Z amount of money to each streaming and rental services? Plex family servers would go out of use.

As for games, there are a lot of games whose creators have stopped maintaining the servers and the only way to play them is to play on privately-maintained servers by players. Moving to a Stadia-like model (streaming games) will eliminate that, not to mention that even the fact that I can play in my free time or not would depend upon how Stadia's servers are working at that moment and how much of the bandwidth is saturated. Currently, the solutions aren't feasible at all.

That's not to say we should just stop streaming. It's convenient. Just that we should have options imho.

And in your honest opinion, that's why WSB is buying Gamestop?

If your answer is no, your whole post is irrelevant. (which it is, by the way)

[PhoenixZephyrus]

And in your honest opinion, that's why WSB is buying Gamestop?

If your answer is no, your whole post is irrelevant. (which it is, by the way)

No its not. But that doesn't make the post irrelevant as I disagree that moving completely to streaming is a bad idea for the consumer probably.

[Xian01]

I almost want to open a Gamestop now.

I would lend you my coin for this venture, if only for selfish reasons. Gamestop has some pretty amazing Star Wars Black Series exclusive action figures, and owning a Gamestop would give me a line on buying sealed cases. I have become a whore for having items graded by the AFA. Gamestop exclusives always fetch a premium if rated U9.0 or higher. Bitcoin has allowed for me to put together a museum-worthy collection of graded Stormtroopers.

Just got this figure that came back U9.5!! The highest score I have yet received on any submission. Thanks, Bitcoin.

[friends1980]

And in your honest opinion, that's why WSB is buying Gamestop?

If your answer is no, your whole post is irrelevant. (which it is, by the way)

No its not. But that doesn't make the post irrelevant as I disagree that moving completely to streaming is a bad idea for the consumer probably.

I mentioned the difference between streaming and cartridges or VHS exactly to show that WSB doesn't care about Gamestop's business model. Not to start an actual discussion about streaming and cartridges (or options or markets or monopolies or corps or Netflix or Hulu or game servers etc.).

Since comparing streaming to gaming cartridges wasn't clear enough, next time I'll use blacksmiths as a counterexample to make sure everyone understands it's undoubtedly meant as a metaphor.