Is there any proof that money was flowing out of stocks and into Bitcoin? And if the US government was actually afraid of this scenario, there's a simple solution - ban Bitcoin exchanges. No need to come up with conspiracies.
A lot of international pressure was added on gamestop? What are you going to do there, tell Canadians, Asians and Europeans they can't buy US stocks without banning bitcoin (that'll push up the dax, ftse 100, Japanese and Chinese indexes...
This makes sense. But the thing is, wallstreetbets mainly targeted those bankers and brokers that shortsold on GME, they didn't really pay attention to those who would benefit from this because the winner at the end of the day will be GameStop and them buyers and hodlers. And the losers will be the brokers and investors who short sold on GME in hopes of getting more profits.
Yes and this is how the market works?
If a company does badly shorter win and longers lose.. If a company does well longers win and shorters lose.
What if the initial pumper was just nostalgic over gamestop? Afaik the US government under trump didn't do much to ensure people had money, wasn't there only 2 stimulus checks? (compared to most European countries paying 70%+ wages).
I would be curious to know how much $$ it took to pump gamestop stock.
A bunch of investors buying a bunch of stock--on margin--in a company that doesn't have an enormous amount of stock floating would inflate the price quite nicely, and I don't doubt that's what happened. I seriously doubt the government would have any interest in pumping Gamestop stock, nor do I think Gates and Buffett feel threatened by cryptocurrency.
This stuff is really interesting, though. It'd be nice if those Reddit peeps would pump something I owned. Too bad I'm not holding any doge right now.
I understand that doge may have its use in some cases, I like it for two reasons as well, one is the fact that they got together and did community stuff YEARS before wallstreetbets did, they helped the jamaican bobsled team and sponsored them, they had an ad spot on a nascar race car, and some other stuff I can't remember now but they are definitely a fun community to be in and do good stuff, secondly of course gambling, it makes things easier and cheaper there as well.
Long story short they are good for some things, but as you may have realize I didn't list investing in there, you may not like investing into something that is consisting of good people, just because doge people are nice and you can gamble with doge doesn't mean that I would want to invest into it, I rather invest my money into bitcoin even if bitcoin is not as cheap as doge.
If they're still using the same algo as litecoin then a 51% may be likely too cut if it gets pumped too fast too.
There are many instances where its pumped from <30 to >100 sats too in the past and it might find a new base or just fold back to where it was before.
Its hard to tackle this topic without straying into the realm of conspiracy theories and parodies.
I wonder if its fair to summarize it as the following.
In 100+ years of tall buildings being constructed with steel frames. How many topped as a result of fires?
In 100+ years of market trading. How many times were non one percenters able to coordinate and organize to topple markets?
When one discovers seeming outliers in places they were not known to previously exist. What does it mean.
(What do people think about this?)
Similarly, is this how wars can be expected to be fought in the future? Either literally people moving or people launching attacks online on certain things.
Want to destroy a bank? Just get 4% of depositors to withdraw at once (they post their cash reserves online so you just need $1 higher than that).
Destroy a company? Buy it and make it unprofitable. Destroy a country? Counterfeit its money and sell it to them... (I think these tactics have already been tried by governments but not yet by retail).
