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

[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.

[Gyrsur]

Gamestop - Who is really manipulating the markets?

unfortunately just in German please use subtitles in English. it's worth it!

[Hhampuz]

Gamestop - Who is really manipulating the markets?

unfortunately just in German please use subtitles in English. it's worth it!

Could you give a TL;DR?

[OutOfMemory]

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.

I thought the same on Thursday.
RH, by the way, should just go bankrupt, be sued and fuck off. What a shame for the great name they are carrying!

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?

BTC itself enabled me to just throw $300 at GME stonks, only to support WSB. If i get some money back, well, i won't refuse to cash out, but the majority of my GME holdings will be held as long as possible.

[Gyrsur]

Gamestop - Who is really manipulating the markets?

unfortunately just in German please use subtitles in English. it's worth it!

Could you give a TL;DR?

TL;DR: explanation of the events of the last days

EDIT: btw, if you listen to the beautiful German language you will get an impression why Hitler's voice had a huge impact on the masses.  

[Elwar]

Ya, Gamestop is certainly a pawn in this whole thing.


I think it was more like a bunch of online traders that have been following the hedge funds shorting over and over again talking about it and saying they should do something but nobody ever does anything.

Then they go after Gamestop and there are enough gamers online to finally say, today we do something about it.

It could have just as easily been something like Alienware or other somesuch company that would rally the nerds around it.


I would buy a Gamestop solely so I would have dibs on the latest console games to come out. Though I'm not much of a gamer anymore. Too busy.

[DaRude]

Ya, Gamestop is certainly a pawn in this whole thing.


I think it was more like a bunch of online traders that have been following the hedge funds shorting over and over again talking about it and saying they should do something but nobody ever does anything.

Then they go after Gamestop and there are enough gamers online to finally say, today we do something about it.

It could have just as easily been something like Alienware or other somesuch company that would rally the nerds around it.


I would buy a Gamestop solely so I would have dibs on the latest console games to come out. Though I'm not much of a gamer anymore. Too busy.

I thought it was the most shorted stock from all of them, the fact that it happened to be gamer stock was the cherry on top. 

[Arriemoller]

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.

As I understand it, it wasn't a random post, the guy had been buying GME regularly since 2019 and posted about it, and gotten ridiculed every time, until some other guys looked into the company and realized that it was actually doing fine and started buying too, and then more and more people did the same, and then it slowly snowballed. And now it's a grassroots movement against the hedgefonds.

[savetherainforest]

You know... me holding bitcoin for so many years... gave me practice for 'holding' a few thousand dollars of this sh!t.

Ofc.... I won't be holding long term, I advice everyone to just trade it on a 3-4% chart swing. U can do 100% profit in just 1 day. ... Yesterday was insane with the 25% price swings.

[Hhampuz]

As I understand it, it wasn't a random post, the guy had been buying GME regularly since 2019 and posted about it, and gotten ridiculed every time, until some other guys looked into the company and realized that it was actually doing fine and started buying too, and then more and more people did the same, and then it slowly snowballed. And now it's a grassroots movement against the hedgefonds.

Define Gamestop doing fine.. losing $1.6 billion over the last 12 quarters is.. fine?

Also, grassroots movement against the hedgefunds > with other hedgefunds

[El duderino_]

[marcus_of_augustus]

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.

.... Plot twist, GameStop realises it's new found powers and makes bold moves to pivot it's business model and capital accounting towards bitcoin.

... starts accepting bitcoin lightning payments in- store and online for all it's products, installs bitcoin ATMs at all it's stores, allows customers to hold credit accounts in bitcoin and here's the kicker, takes advice from Saylor how to sell several billion in stocks/bonds to build a multi-billion giant bitcoin treasury position.

gaming, gamers and bitcoin have a long history of synergies. The 2011 mining and adoption wave was majorly due to gamers repurposing GPUs toward bitcoin mining

[Arriemoller]

As I understand it, it wasn't a random post, the guy had been buying GME regularly since 2019 and posted about it, and gotten ridiculed every time, until some other guys looked into the company and realized that it was actually doing fine and started buying too, and then more and more people did the same, and then it slowly snowballed. And now it's a grassroots movement against the hedgefonds.

Define Gamestop doing fine.. losing $1.6 billion over the last 12 quarters is.. fine?

Also, grassroots movement against the hedgefunds > with other hedgefunds

They were good financially, more cash than debt, was cleaning up its act with a new leadership. They were no way near a bankruptcy.

And the guy I'm talking about calls himself DeepFuckingValue if you want to check him out, apparently he has a youtube channel too.

My enemies enemy is my friend.

[d_eddie]

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.

As I understand it, it wasn't a random post, the guy had been buying GME regularly since 2019 and posted about it, and gotten ridiculed every time, until some other guys looked into the company and realized that it was actually doing fine and started buying too, and then more and more people did the same, and then it slowly snowballed. And now it's a grassroots movement against the hedgefonds.

Since late 2019, DeepF__Value had been buying GME call options at strike prices that, while ridiculously low for today's prices, were already a few times the market value at the time. As we all know, options can easily amplify underlying volatility tenfold or more. So he made millions on those options. Part of the profit, he turned into more GME options and some stock too. That's when the whole thing became big enough to be noticed outside the WallStreetBets echo chamber.

The starting analysis for buying bullish calls was entirely financial. He'd noticed their level of debt/cash flow was good enough to outrule any impending bankruptcy. Of course, all the hedgies shorting like mad were not helping at all.

Here's an orderly Twitter summary
https://twitter.com/MrBrownEyes2020/status/1354517067240771584

EDIT - here's the original Reddit posts where DeepFuckingValue says he's buying the options. Everyone is sell sell sell ffs! But he's got a clear vision and some diamond hands.

https://old.reddit.com/r/wallstreetbets/comments/d1g7x0/hey_burry_thanks_a_lot_for_jacking_up_my_cost/

[savetherainforest]

[jojo69]