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

[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.

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[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.

[LFC_Bitcoin]

GME was always going to be pump & dump. Get in, take your $200 - $300 per share & GTFO (I doubt you’d have managed to time the top).

It’s a failing business with no future, this was always going to be a short term fix. Bitcoin on the other hand is the most ingenious invention of  the last 100+ years, few understand this.

 

[acquafredda]

Too much altcoin talking around here lately. 

[HeRetiK]

Just when I thought I could finally go back to watching Bitcoin go sideways GME starts pumping again. Now we'll see what happens when people are finally allowed to buy shares again, not just sell them. Dead cat bounce or the beginning of a new squeeze attempt?

It’s a failing business with no future, this was always going to be a short term fix. Bitcoin on the other hand is the most ingenious invention of the last 100+ years, few understand this.

Current prices are decoupled from fundamentals, but I wouldn't be surprised if GME actually manages to turn the ship around given the new leadership in play. Still I feel more comfortable with Bitcoin than with stocks, for the most part.

[Krubster]

Interesting AMA with Mark Cuban
https://www.reddit.com/r/wallstreetbets/comments/lawubt/hey_everyone_its_mark_cuban_jumping_on_to_do_an/

He even mentioned bitcoin

I learned some expensive lessons when i first started trading stocks. It was painful. But i tried to learn what i got right and wrong. Right now, right here. The game is changing. The hard part is ask yourself if what you believed in has actually changed.

BTC HODLers are a great example to follow. Many bought at the highs in 2017 and watched it fall by 2/3 or more. But they held on because they believed in the asset.

The same applies to stocks. When I buy a stock I make sure i know why Im buying it. Then I HODL until till I learn that something has changed. THe price may go up or down, but if i still believe in the logic that made me buy the asset, I dont sell. If something changed that I didnt expect, then I look at selling.

[Tash]

GME was always going to be pump & dump. Get in, take your $200 - $300 per share & GTFO (I doubt you’d have managed to time the top).

It’s a failing business with no future, this was always going to be a short term fix. Bitcoin on the other hand is the most ingenious invention of  the last 100+ years, few understand this.

 

If only GME fails that would be the least of worries the whole financial juggernaut is sinking
Who will join in the clamation
https://youtu.be/nhd0ppxRRlo?t=3