bitcoin

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5thhorseman
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Re: bitcoin

Post by 5thhorseman »

Here's the poster who started it all ...

https://www.reddit.com/user/deepfuckingvalue

You can scroll down and see his posts all the way back to Feb 2020. He's turned $50K into $22M in that time. Insane.
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Topper
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Re: bitcoin

Post by Topper »

Only time I've shorted a stock was retailers just before US Thanksgiving 2008. A no brainer.
Over the Internet, you can pretend to be anyone or anything.

I'm amazed that so many people choose to be complete twats.
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5thhorseman
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Re: bitcoin

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Interesting that Robinhood and Interactive Brokers have now shut down further buy orders for Gamestop plus a basket of other stocks that short sellers were targeting.

Retail investors are justifiably crying foul as this appears to protect hedge funds in danger of collapsing. Robinhood appears to be stealing from the poor to give to the rich :D

Of course nobody restricted the activity of hedge funds when they were massively shorting these stocks to drive the price down at the expense of ordinary investors.

You have to wonder who applied the pressure. The SEC?
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Cousin Strawberry
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Re: bitcoin

Post by Cousin Strawberry »

5thhorseman wrote: Thu Jan 28, 2021 9:28 am Interesting that Robinhood and Interactive Brokers have now shut down further buy orders for Gamestop plus a basket of other stocks that short sellers were targeting.

Retail investors are justifiably crying foul as this appears to protect hedge funds in danger of collapsing. Robinhood appears to be stealing from the poor to give to the rich :D

Of course nobody restricted the activity of hedge funds when they were massively shorting these stocks to drive the price down at the expense of ordinary investors.

You have to wonder who applied the pressure. The SEC?
Money talks. Even Robin Hood has his price
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Topper
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Re: bitcoin

Post by Topper »

Fun to watch after what happened to Nikola Motor Co a few months ago when a fund manager published several articles slamming the company while shorting the stock.

Pump and dump in reverse.

If you driving the share price to unrealistic levels, someone is buying at those inflated prices.
Over the Internet, you can pretend to be anyone or anything.

I'm amazed that so many people choose to be complete twats.
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Cornuck
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Re: bitcoin

Post by Cornuck »

Speaking of Pump and Dump - GameStop has had an interesting week. :D LINK
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5thhorseman
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Re: bitcoin

Post by 5thhorseman »

Cornuck wrote: Thu Jan 28, 2021 11:39 am Speaking of Pump and Dump - GameStop has had an interesting week. :D LINK
You didn't read the last few posts, did you Corn? :D

viewtopic.php?p=411149#p411149

Good article though. My favorite line ...
Perhaps all we’ll remember from the past week is that a few hedge funds’ greedy doltishness accidentally helped mint some Robinhood millionaires, while a bunch of latecomers set their money on fire for lolz.
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Re: bitcoin

Post by Cornuck »

5thhorseman wrote: Thu Jan 28, 2021 11:58 am You didn't read the last few posts, did you Corn? :D
Pre coffee posting never works out.... :D
Doc: "BTW, Donny was right, you're smug."
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Cousin Strawberry
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Re: bitcoin

Post by Cousin Strawberry »

Cornuck wrote: Thu Jan 28, 2021 1:58 pm
5thhorseman wrote: Thu Jan 28, 2021 11:58 am You didn't read the last few posts, did you Corn? :D
Pre coffee posting never works out.... :D
:lol:
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5thhorseman
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Re: bitcoin

Post by 5thhorseman »

The Brown Wizard wrote: Thu Jan 28, 2021 9:55 am
5thhorseman wrote: Thu Jan 28, 2021 9:28 am Interesting that Robinhood and Interactive Brokers have now shut down further buy orders for Gamestop plus a basket of other stocks that short sellers were targeting.

Retail investors are justifiably crying foul as this appears to protect hedge funds in danger of collapsing. Robinhood appears to be stealing from the poor to give to the rich :D

Of course nobody restricted the activity of hedge funds when they were massively shorting these stocks to drive the price down at the expense of ordinary investors.

You have to wonder who applied the pressure. The SEC?
Money talks. Even Robin Hood has his price
I doubt it. There are lots of other online brokerages that these Reddit users are trading on. It's not unusual to have accounts with more than one of them.

And as it turns out, later in the day Robinhood reinstated trading on GME. It's slowly climbing in after-hours after plummeting for much of the day.

"Money talks" is often too easy an explanation.
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5thhorseman
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Re: bitcoin

Post by 5thhorseman »

Bitcoin getting a pounding of late. This house of cards may topple soon ...

https://crypto-anonymous-2021.medium.co ... dcf78a64d3

Not to worry. We will still have the silliness of NFTs.
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5thhorseman
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Re: bitcoin

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El Salvador becomes the first nation to make bitcoin legal tender.

https://www.wsj.com/articles/bitcoin-co ... 1631005200

This should be interesting.
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Per
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Re: bitcoin

Post by Per »

I hope none of you invested in Squid Coin... :lol:

https://www.reuters.com/technology/cryp ... 021-11-02/
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5thhorseman
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Re: bitcoin

Post by 5thhorseman »

Could this be the beginning of the end for Bitcoin?

If so, good riddance.
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Per
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Re: bitcoin

Post by Per »

Yup.

Also, in related news, investment funds specialising in Russian companies have been frozen on the Stockholm exchange. They opened up trading again yesterday and the value quickly adjusted to 0.5% of what it was prior to the attack on Ukraine, ie, if you had 100,000 invested in such a fund back in February, it's now worth a cool 500. :crazy:
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