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

[cAPSLOCK]

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.

[vapourminer]

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.

rh allows cash accounts too, so if you dont use margin youre ok afaik. at least they havent done anything to my cash buy stuff (including $gme) and i do know they did liquidate margins stuff on $gme (and some others i believe) at pretty much any price they chose.

agree on the Do Not Use bit, but did have fun playing there for a while. i wonder if they will survive this.

[Torque]

Media seems really desperate at this point... 

https://twitter.com/ndrew_lawrence/status/1356253787011371008

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."

[Wekkel]

So Scott is all talk and no game?

[Torque]

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.

Fun Fact: 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.

[Wekkel]

Yes, astounding and not good for the faith in the stock market mechanics 

I read another similar story on WSB of a guy buying all shares of a listed company for fractions of pennies (total about $5,000). He could not obtain the share certificates in the end.

It's a rickety system at best and a fraudulous scheme at worst.

[Torque]

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."

[cAPSLOCK]

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.

Fun Fact: 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.

My Grandmother's generation held their own certs.  In their safe deposit boxes.  My great uncle (a millionaire back in the 60s from stock trading) held all his certs.  He went crazy at the end, and in his will he left all those certs to family members.

We are only now realizing as a culture (worldwide too) that we have been robbed.  Over and over.

The peasants are awake.  At least some of them are now.  And the question is: will it be enough to tip the scales?

I wonder what this revolution will be called when it makes the history books.

[600watt]

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."

what stops them from "leasing" the same stock multiple times? their honesty? ethics? 

[Torque]

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.

[Tash]

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."

Lots and lots of Counterfeit Stocks
https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/

[_javi_]

Every rise attempt is being hammered down.

As if honey badger cares..

[Biodom]

Yes, astounding and not good for the faith in the stock market mechanics  
It's a rickety system at best and a fraudulous scheme at worst.

Now, that they took the "play" money back from the kids, the anger and frustration with the stock market will go up even more among the youngsters who had but a couple days of a fleeting success.
The casino has to let people win once in a while, and if it doesn't, then nobody will come. Game over.

[Torque]

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."

Lots and lots of Counterfeit Stocks
https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/

"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>

[FIFA worldcup]

[Wekkel]

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.

[JimboToronto]

Good morning Bitcoinland.

No significant change, still chugging along in the $3xxxx range... currently $34766USD/$44710CAD (Bitcoinaverage).

Wake me when the spring rise starts.

My Grandmother's generation held their own certs.  In their safe deposit boxes. 

True. My first job as a teenager in the 1960s was at a stock brokerage. I started as a foot messenger carrying a briefcase full of stock certificates, cash, and checks to certify. No transaction was considered complete until the actual goods had been delivered.

That was also before Tricky Dicky stopped backing dollars with gold, and around the same time the Canadian government stopped minting coins out of real silver.

Things were more real back then. Now we're supposed to value paper (brrrrr) greenbacks, base-metal coins and symbolic promises of business ownership. What a scam.

At least we get to hold our own bitcoins.

[PhoenixZephyrus]

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?



Meanwhile, AMC is reopening theatres.




In yet other news, there's probably not going to be a ban on crypto in India soon, and even then, there probably won't be a complete ban. The position of the govt. on the issue is still not clarified properly, but here's some updates for the people interested: Indian Government Answers Questions About Cryptocurrency and Digital Rupee

[vapourminer]

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.

[Torque]

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.