/r/Wallstreetbets allowed discussing Bitcoin, then banned it again

[hatshepsut93]

The announcement

Wallstreetbets is a subreddit with 9.8 million users who discuss trading stocks and making huge profits on risky trades. For years the moderators prohibited discussing crypto, as well as other things that would distract from the main subject of the subreddit, but now they have decided to allow discussing BTC, ETH and DOGE in special daily thread.

I think this is nice news, now more retail investors will be exposed to Bitcoin discussions, and some of them will get interested, even if they ignored Bitcoin before. It's also good that they didn't allow discussing too many shitcoins that would take away attention of potential investors.

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[slaman29]

Oh that's nice to hear. I thought they already had a crypto arm anyway didn't they? I mean, weren't they the same guys behind the original dogecoin pump? I wasn't following the Gamestop thing closely enough but I understood the doge pump was mainly from the same guys in that group.

To the moon;)

[Lorence.xD]

Aren't there subreddits that are dedicated to that discussion, I find it unreasonable to be honest because most of us see stocks and cryptocurrency as a different thing which it is but that only happens when it doesn't suit the interest of the many, I would say that it is a good progress but we have to stick to the roots for now.

[Tytanowy Janusz]

I was amazed by how succesfull their pumps where. I even created this topic in which i stated that they will be one of fasctors that will trigger new alt seazon:
https://bitcointalk.org/index.php?topic=5313203.msg56221725#msg56221725

But after that i saw how terribly they organize XRP pump. It was so damn stupid to do it in a way they did it when everyone was looking at them:

BTW. Ripple was total disaster. They if fact pumped +150% but they was asking their members to not buy before 01.02.2021 8:30 EST to buy exact at that day, all in, to do a flash crash. Whole buy volume was shorted by experienced players and everyone who listened is now -45% (after 4 hours). Wonder what is their plan for future. I hop to see doge like pomps (just buy) not ripple like pomps (buy at xxx time and be the one who is rected the most)

After this failed pump I think they totally lost credit in crypto space. They lost the momentum they had. They are no longer as powerfull as they were few months ago.

[Wexnident]

Aren't there subreddits that are dedicated to that discussion, I find it unreasonable to be honest because most of us see stocks and cryptocurrency as a different thing which it is but that only happens when it doesn't suit the interest of the many, I would say that it is a good progress but we have to stick to the roots for now.

It is a thing of interest I suppose, and a lot of people at the subreddit seemed to be interested so they allowed it. Not likee there isn't any restriction though, discussions is only for 3 coins, and the discussion is limited in a single thread so I suppose it's acceptable.

Plus, I suppose it could be used as an introduction to whoever is in the subreddit with regards to normal Bitcoin discussions. Yes, there are a lot of subreddits for crypto discussions but the amount of users in the wallstreetbet beats most of them (if not all), which would probably mean that more info and discussion could happen there.

[kpierce77]

Oh that's nice to hear. I thought they already had a crypto arm anyway didn't they? I mean, weren't they the same guys behind the original dogecoin pump? I wasn't following the Gamestop thing closely enough but I understood the doge pump was mainly from the same guys in that group.

To the moon;)

Aah, really? I didn't really follow the GameStop case either. I think they started to allow discussion of crypto because Coinbase started listing on Nasdaq. Coinbase debuted on nasdaq quite well and I think they caught the attention of the discussion there and then they allowed crypto discussions on the subreddit, lol. cmiiw

[Poker Player]

What is clear with news like this and others we see every day is that Bitcoin permeating society more and more. This has gone from being a rare thing of a few freaks, to an important asset of our society, as can be gold or other type of asset that everyone knows what it is and is part of the financial debate.

[shahzadafzal]

The announcement

Wallstreetbets is a subreddit with 9.8 million users who discuss trading stocks and making huge profits on risky trades. For years the moderators prohibited discussing crypto, as well as other things that would distract from the main subject of the subreddit, but now they have decided to allow discussing BTC, ETH and DOGE in special daily thread.

I think this is nice news, now more retail investors will be exposed to Bitcoin discussions, and some of them will get interested, even if they ignored Bitcoin before. It's also good that they didn't allow discussing too many shitcoins that would take away attention of potential investors.

Well it might not go the same way as they did in the stock market, to me /r/Wallstreetbets was all about NASDAQ.... however Bitcoin/ETH/DOGE is not bound to New York or USA let alone.

Yes 9.8m users can disrupt the NASDAQ but they can't do same in Bitcoin. Bitcoin is totally a different territory compared to Stock Market, Bitcoin is not owned or controlled by any one.

Just for a reference Elon Musk have 50.8M followers on twitter and when he announced Tesla buying $1.5b bitcoin it just moved bitcoin price from $39k to $43k. Such high and lows are pretty common in Bitcoin now.

[hatshepsut93]

I was amazed by how succesfull their pumps where. I even created this topic in which i stated that they will be one of fasctors that will trigger new alt seazon:
https://bitcointalk.org/index.php?topic=5313203.msg56221725#msg56221725

But after that i saw how terribly they organize XRP pump. It was so damn stupid to do it in a way they did it when everyone was looking at them:

I doubt that they have organized any crypto pumps, some twitter account that isn't even an "official" WSB account has mentioned DOGE at some point, which triggered its price growth. How could WSB organize crypto pump if all crypto posts were banned, and are still mostly banned? I'm sure it was just regular crypto traders catching the winds of WSB hype. Small marketcap coins very easily react to any sort of big news, like Elon Musk's tweets.

[Lorence.xD]

~

It is a thing of interest I suppose, and a lot of people at the subreddit seemed to be interested so they allowed it. Not likee there isn't any restriction though, discussions is only for 3 coins, and the discussion is limited in a single thread so I suppose it's acceptable.

Plus, I suppose it could be used as an introduction to whoever is in the subreddit with regards to normal Bitcoin discussions. Yes, there are a lot of subreddits for crypto discussions but the amount of users in the wallstreetbet beats most of them (if not all), which would probably mean that more info and discussion could happen there.

The problem is that there is a dedicated subreddit to discuss those and Wallstreetbets is not the place to discuss in my opinion. Maybe the volume is the reason but I will stand by my principle that the discussion should stay true even if there is a lot that wants to change.

[BrewMaster]

that's just a start, everyone is starting to get on board the bitcoin train which reminds me of the first quarter of 2017 when price rise was starting to warm up. it first starts by the media covering bitcoin a lot, then in social media we keep seeing a lot of people talk about bitcoin. then they all start buying bitcoin slowly as they see it keeps on rising every day. before we know it the price is going to be $250k and the $1 million FOMOculation starts like last time.

[UserU]

Aren't there subreddits that are dedicated to that discussion, I find it unreasonable to be honest because most of us see stocks and cryptocurrency as a different thing which it is but that only happens when it doesn't suit the interest of the many, I would say that it is a good progress but we have to stick to the roots for now.

Yea, mainly r/Bitcoin and r/CryptoCurrency but each subreddit has its own terms and rules laid out.

Contrary to popular belief, there's always been a degree of censorship on each of them.

[Kong Hey Pakboy]

that's just a start, everyone is starting to get on board the bitcoin train which reminds me of the first quarter of 2017 when price rise was starting to warm up. it first starts by the media covering bitcoin a lot, then in social media we keep seeing a lot of people talk about bitcoin. then they all start buying bitcoin slowly as they see it keeps on rising every day. before we know it the price is going to be $250k and the $1 million FOMOculation starts like last time.

It is a good thing that they are getting in the train because bitcoin has been in the market for a decade now and I don't know how bitcoin is going to prove itself to these late boarders, I am just glad that I have a bitcoin hodled because when this happens, I want to get a bigger piece of pie if I can.

[mediaBuzz]

Finally, they acknowledged the truth. Another upwards spike is on the way.

[20kevin20]

Contrary to popular belief, there's always been a degree of censorship on each of them.

There's gonna be a degree of censorship anyway in any sub or website you visit. I think BTCTalk is one of the only places left where all opinions are kept and mostly respected, besides scams. As long as there are mods that remove posts based on interpretable rules or personal beliefs, there is going to be censorship.

[UserU]

There's gonna be a degree of censorship anyway in any sub or website you visit. I think BTCTalk is one of the only places left where all opinions are kept and mostly respected, besides scams. As long as there are mods that remove posts based on interpretable rules or personal beliefs, there is going to be censorship.

Agreed, but some really take the cake. Previously there was a scandal whereby the entire NANO (formerly XRB) team was banned from /r/CryptoCurrency despite them having not posted there prior.

https://twitter.com/colinlemahieu/status/1355205174260883459?lang=en

[davis196]

Well it might not go the same way as they did in the stock market, to me /r/Wallstreetbets was all about NASDAQ.... however Bitcoin/ETH/DOGE is not bound to New York or USA let alone.

Yes 9.8m users can disrupt the NASDAQ but they can't do same in Bitcoin. Bitcoin is totally a different territory compared to Stock Market, Bitcoin is not owned or controlled by any one.

Just for a reference Elon Musk have 50.8M followers on twitter and when he announced Tesla buying $1.5b bitcoin it just moved bitcoin price from $39k to $43k. Such high and lows are pretty common in Bitcoin now.

Nope,9.8 million investors can definitely pump the Bitcoin price,if they want to.
The crypto markets aren't more complicated than the stock markets and Bitcoin isn't "rocket science".
Bitcoin cannot be controlled,but the Bitcoin price can be influenced by a group of people,that have enough money.
The number of followers,that Elon Musk has on Twitter doesn't matter,since most of them aren't investors.
With Wallstreetbets on our side,nobody can stop us.
The problem with Wallstreetbets is that most of the investors there aren't long term oriented.They are more like pump&dump short term traders.
Anyway,I don't mind them joining the crypto world.

[20kevin20]

Agreed, but some really take the cake. Previously there was a scandal whereby the entire NANO (formerly XRB) team was banned from /r/CryptoCurrency despite them having not posted there prior.

Reddit is a very censored place nowadays. That goes from the banning of personal opinions/beliefs to the banning of subs such as The_Donald. I was personally never a sub/fan of the subreddit but it's kinda annoying that they're removing this stuff. It's certainly not a place to go to if you're looking for freedom of speech. The internet is being censored very strongly.. YouTube's decision to remove "spam dislikes" from White House videos is a clear example of it, so is their decision of taking down some of the top crypto channels out there a while ago..

[slaman29]

Aah, really? I didn't really follow the GameStop case either. I think they started to allow discussion of crypto because Coinbase started listing on Nasdaq. Coinbase debuted on nasdaq quite well and I think they caught the attention of the discussion there and then they allowed crypto discussions on the subreddit, lol. cmiiw

Well, yes, that's what I was led to believe. What happened was Gamestop drama caused everyone to just go into that subreddit then the admins had to close it. But after that, there was another sub with the "crypto" arm that decided it was time to pump up DOGE. In that period you couldn't talk about crypto in the original sub, as OP's thread confirms.

But now they seem to be allowing BTC. Funny days right?

[hatshepsut93]

And it's gone

Wallstreetbets reinstated their ban on crypto discussions because of some small article published on Bloomberg with the title "WallStreetBets Bows to Crypto Wave".

I'm just amazed at the childishness and pettiness of /r/WSB's mod team, but it's totally in the spirit of subreddit to make quick emotional decisions.

My favorite comment is:

Can't wait for the "WallStreetBets Bows to Shitty Bloomberg Articles" article

[Lucius]

I'm just amazed at the childishness and pettiness of /r/WSB's mod team, but it's totally in the spirit of subreddit to make quick emotional decisions.

I was not impressed with their decision to allow a discussion of crypto, but I am not in the least surprised that one article offended them to withdraw that decision. The guys obviously have a very high opinion of themselves after what they've achieved, and no one can blame them if they don't want to discuss Bitcoin - but this kind of behavior is really childish.

lubbin604
RIP WSB CRYPTO 4/14-2021 - 4/15-2021

[hugeblack]

And it's gone

Wallstreetbets reinstated their ban on crypto discussions because of some small article published on Bloomberg with the title "WallStreetBets Bows to Crypto Wave".

I do not know why many people think that r/wallstreetbets mods are professionals with serious discussions. It is not a signature campaign and the board is entirely for entertainment and stock discussions.
The decision-making was emotional, but what is worrisome is the extent of the media’s influence on mod’s decisions, as the opposite was what happened in the sense that discussions in the forum are what change news headlines and not the other way around.

Generally, it makes no difference. When stock tokenization process begins, they will allow the discussions.

[ChiBitCTy]

I think wallstreetbets is a joke overall.  I have visited the subreddit a few times and every time I do I read an absolutely massive amount of information and ignorance.   Wallstreetbets is just a giant pump and dump group and there is not legitimacy to that in my humble opinion.  I am simply not a fan, and stuff like this makes me hate them even more.

[slaman29]

And it's gone

Wallstreetbets reinstated their ban on crypto discussions because of some small article published on Bloomberg with the title "WallStreetBets Bows to Crypto Wave".

I'm just amazed at the childishness and pettiness of /r/WSB's mod team, but it's totally in the spirit of subreddit to make quick emotional decisions.

My favorite comment is:

Can't wait for the "WallStreetBets Bows to Shitty Bloomberg Articles" article

This is the best comment ever. They bowed to everything haha. Bow to the Crypto Wave. And now Bow to Bloomberg opinions. It kind of just goes to show that degens are degens whatever you say at the end of the day.

Totally how to describe reddit and all of crypto twitter in one example:)