On January 30 2021 20:16 locoo wrote:
It's fun watching the hypocritical posturing on both sides as the hedge fund guys try to say they’re the victims, and the yolo WSB crowd out to try to game the system for a buck try to justify stock manipulation as a rebellious act. All while being used to advance the agenda of opportunistic and scary political figures like AOC and her "tax the rich" (I think she means eat the rich) mantra. Anyway made a few bucks on AMC so keep the fight going. I'll keep buying support and selling into strenght.
Also if you haven't you should watch both the Webull CEO and the Robinhood CEO (co founder?) talking about the issue. It's obvious the latter is fucked and is trying to minimize losses by lying, seeing how the former is being so much more open about what really happened.
sup locoo hope all is well with family.. great post and agree 100%, going to be a real unpopular take on the interwebs but there is plenty of claimed nobility and zero actual nobility on either side. we're wired for fomo and crowd behaviour.. see a stock chart going parabolic, reddit meme bros piling in, a compelling "stick it to the man, they'll have to cover shorts at any price" narrative and that's a powerfomo irresistible cocktail to pile in right behind and add further fuel which in turn gets more fomo redditors in. ofcourse the real motivation is greed and fomo. Nothing wrong with those things and i like participating in zero sum socially unproductive games with money as much as the next guy but let's not kid ourselves into legitimising all this as some kind of occupy wall st social protest.
ha good observation on the opportunism of politicians hijacking the bandwagon of the day to advance the pet cause.. eat the rich indeed
I hard agree with both thats why I posted about Robinhood's reason to halt trade on GME. its very tempting to live in a white and black world, everything makes sense and its full of passion and its easy to be on the good team, but it requires a conscious effort to grow out of it, to mature and realize things are much more complex.
I don't think Citadel is the death star and WalllStreetBets guys are the Jedi rebels flying their longs into the exhaust port, it is tempting but its too simplistic, but I am very glad to see the hedgefunds doing shitty shorts manipulating the markett hurting workers getting rekt by "retail"..
Hedge funds haven't learned the lessons of "old money", instead of taking the L and kept quiet they showed their muscles and for very little gain just getting their heads an inch closer to the guillotine.
On February 01 2021 22:41 RiKD wrote:
And, fucking Janet Yellen is talking shit about Crytpo when the central banking system launders trillions of dollars a year.
She also seems to be a big fan of Brrrrrrrrrr... economics, so the future is looking bright for BTC.
My brother is an Internet nerd at heart and a PhD in Physics so no dummy but man I think the Establishment might have him.
Recently, I have been sending him stuff and bothering him. I offered to buy him a wallet, ship it to my PO box, ship it to him and send him $100 in BTC and he just doesn't show any interest. It boggles my mind.
Honestly, I think the main reason is that his wife is the biggest square of all time and would get mad at him for messing around with Crypto. I will turn them both eventually. Hopefully, before their massive 401ks are worth nothing...
My mom knows that my brother-in-law and myself have Crypto and she made some condescending comment the other night shaped by some New York Times article she read. I just shook my head and played Mario Kart 8 Deluxe but realized I was a bit tilted by the comment when I was playing like shit. Then, I had a l'esprit de l'escalier moment like 10 min. later that I should of SNAP responded, "DON'T DENIGRATE WHAT YOU DON'T UNDERSTAND!" I can't really say this to her with any effect 15 min. later so I am still simmering but then I play The Legend of Zelda: Breath of the Wild and eventually forget about it.
The point is I am all-in on BTC at this point so I forget how early we still are. My brother-in-law can be a bit of a maniac trying to trade alt-coins and he holds his money in an exchange but at least he is in the mix. I will eventually convert everyone I know or I guess they will just stay poor.
why do u have a po box
I think Jameson Lopp (@lopp) suggested it and the idea stuck.
I was posting about wallets on Reddit and encountered multiple scamming attempts there. Then, I did something at some point to trigger phishing attempts on my mobile phone. A PO box in my location is $80/yr and that just seems like nothing if it will improve security. I've never actually sat down and done the math and it is true that the USPS has all of my info so my decision could be trivial/wrong but it basically boils down to "Jameson Lopp is much sharper than me on these matters. $80/yr + the hassle of having to leave the house to get certain shipments is not a big deal so I will just do it with out doing a super deep dive on the matter."
The very first point on this morning's WSJ "The 10-Point." daily e-mail feature is this:
"Silver futures settled an eight-year high in New York on Monday, the latest work by a loosely knit group of speculators who congregate on social-media platforms including Reddit’s WallStreetBets. Many of the stocks popular with the Reddit community declined Monday. GameStop fell 31% even as the broader U.S. market recovered some ground. The Dow industrials rose 0.8%, the S&P 500 1.6%, and the Nasdaq Composite 2.5%"
Obviously, WSJ is not to be trusted.
I would Kelly bet large amounts that Silver is getting fraudulently pumped again.
The chalk bet would be:
"JP Morgan’s silver success story began during the global recession. In 2008, JP Morgan took over Bear Stearns — a huge trader in silver futures derivatives — after its collapse. Shortly afterwards, JP Morgan began adding large amounts of silver bullion to its coffers, capitalizing on the precious metal’s price gain in 2011. JP Morgan now holds 133.1 million ounces of physical silver and the world record for most silver held under one name. Today, it also owns 50% of the world’s COMEX silver bullion. Their legacy is not altogether a positive one, however. Market analysts have repeatedly called out JP Morgan for alleged fraud and market manipulation."
- Metals.com
Btw, JP Morgan Chase got to buy Bear Stearns for $2/share at the optimal moment in 2008. (Inside Job)
I am not willing to do a super deep dive on this at this moment but the real bet would be something like:
Largest bet on chalk (JP Morgan Chase)
Subsequent bets including JP Morgan Chase + Citadel + whatever other hedge funds/entities could be involved.
On January 30 2021 20:16 locoo wrote:
It's fun watching the hypocritical posturing on both sides as the hedge fund guys try to say they’re the victims, and the yolo WSB crowd out to try to game the system for a buck try to justify stock manipulation as a rebellious act. All while being used to advance the agenda of opportunistic and scary political figures like AOC and her "tax the rich" (I think she means eat the rich) mantra. Anyway made a few bucks on AMC so keep the fight going. I'll keep buying support and selling into strenght.
Also if you haven't you should watch both the Webull CEO and the Robinhood CEO (co founder?) talking about the issue. It's obvious the latter is fucked and is trying to minimize losses by lying, seeing how the former is being so much more open about what really happened.
sup locoo hope all is well with family.. great post and agree 100%, going to be a real unpopular take on the interwebs but there is plenty of claimed nobility and zero actual nobility on either side. we're wired for fomo and crowd behaviour.. see a stock chart going parabolic, reddit meme bros piling in, a compelling "stick it to the man, they'll have to cover shorts at any price" narrative and that's a powerfomo irresistible cocktail to pile in right behind and add further fuel which in turn gets more fomo redditors in. ofcourse the real motivation is greed and fomo. Nothing wrong with those things and i like participating in zero sum socially unproductive games with money as much as the next guy but let's not kid ourselves into legitimising all this as some kind of occupy wall st social protest.
ha good observation on the opportunism of politicians hijacking the bandwagon of the day to advance the pet cause.. eat the rich indeed
Hey Ket my bro how is it going?! Everything is good here, except for the pandemic and the fact that Peruvian government has handled this the worst out of most if not all the other countries. Luckily me and the wife work at home so it hasn't really affected us... yet, but it has affected negatively virtually everyone around us so it's still a difficult time. I wish and hope that you are doing well!
As for the topic at hand, it was clear this was gonna happen. I just hope not too many people got destroyed. I read one post in a trading discord group from a middle aged teacher that was pretty concerned and said how this was her retirement money and that she couldn't afford to lose it. Of course it's dumb to bet it all on something like AMC, but still sad this probably burned a lot of people. Hopefully there's still a chance of a turn around.
Is it weird that I don't have empathy towards people that put their savings into a gamble? Maybe pre-Internet it would've made sense since you didn't have all the information in the world to make an educated decision ... but nowadays? Gambling with money you can't lose is probably among the stupidest shit you could do
On January 30 2021 20:16 locoo wrote:
It's fun watching the hypocritical posturing on both sides as the hedge fund guys try to say they’re the victims, and the yolo WSB crowd out to try to game the system for a buck try to justify stock manipulation as a rebellious act. All while being used to advance the agenda of opportunistic and scary political figures like AOC and her "tax the rich" (I think she means eat the rich) mantra. Anyway made a few bucks on AMC so keep the fight going. I'll keep buying support and selling into strenght.
Also if you haven't you should watch both the Webull CEO and the Robinhood CEO (co founder?) talking about the issue. It's obvious the latter is fucked and is trying to minimize losses by lying, seeing how the former is being so much more open about what really happened.
sup locoo hope all is well with family.. great post and agree 100%, going to be a real unpopular take on the interwebs but there is plenty of claimed nobility and zero actual nobility on either side. we're wired for fomo and crowd behaviour.. see a stock chart going parabolic, reddit meme bros piling in, a compelling "stick it to the man, they'll have to cover shorts at any price" narrative and that's a powerfomo irresistible cocktail to pile in right behind and add further fuel which in turn gets more fomo redditors in. ofcourse the real motivation is greed and fomo. Nothing wrong with those things and i like participating in zero sum socially unproductive games with money as much as the next guy but let's not kid ourselves into legitimising all this as some kind of occupy wall st social protest.
ha good observation on the opportunism of politicians hijacking the bandwagon of the day to advance the pet cause.. eat the rich indeed
I hard agree with both thats why I posted about Robinhood's reason to halt trade on GME. its very tempting to live in a white and black world, everything makes sense and its full of passion and its easy to be on the good team, but it requires a conscious effort to grow out of it, to mature and realize things are much more complex.
I don't think Citadel is the death star and WalllStreetBets guys are the Jedi rebels flying their longs into the exhaust port, it is tempting but its too simplistic, but I am very glad to see the hedgefunds doing shitty shorts manipulating the markett hurting workers getting rekt by "retail"..
Hedge funds haven't learned the lessons of "old money", instead of taking the L and kept quiet they showed their muscles and for very little gain just getting their heads an inch closer to the guillotine.
Mutually agree 100% on all pts. "Robinhood part of the fu rich establishment in cahoots with hedge funds to steal your money and look after themselves" another compelling "99% vs 1%" narrative for the disenfranchised. You nailed the point on clearinghouse deposit req for brokers in the T+2 settlement window and I'm not sure if it was already mentioned in the thread (apols if it was) but to fulfil said requirement Robinhood had to emergency tap out their $500-600m bank credit lines and raise $3.4bn from investors in just the past week (which is not far from being 2x the cumulative capital Robinhood has raised before). There's not really a theoretical upper limit on what a stock can get at in a big short sqz so it was kind of an existential situation for the broker to limit trading to not blow up. Still a lousy thing to happen that conveniently also favours one side of the trade and comes with loads of knock on consequences.
also agreed on the guillotine getting closer point.. last year been admittedly kind of grotesque with the everything rally of all assets in terms of widening the gap between haves and have nots, widen disenfranchisement and the longer it continues the closer we are to hard left govts where everybody loses
- I don't have a timestamp and I'm not going to look because I have too much to do atm but TD Ameritrade if I remember correctly closed GME buys after market closing the day before the Robinhood fiasco. I know for a fact when RH closed GME, AMC, PLTR, et al. for buying because at 9:25 AM EST I was getting ready to buy the dip on GME or AMC and I owned PLTR and at that point I was unable to even look up the stock info. There was no warning from RH.
- RH is bare minimum negligent in this situation. They talk about it in above video.
- Who is responsible for shutting down r/wallstreetbets and the r/wsb discord at the optimal timing for non-retail?
Free speech will continue to be a big issue moving forward.
PS,
Ket: "hard left govts where everybody loses"
Baalim: "socialism where everyone starves to death"
I am debating taking the opposite position but I'm not sure I have the time, energy, focus to commit to that right now and I am unsure if it would be fun or productive.
Your positions are certainly not drawing dead by any means. This Perfect Day, 1984, and many more can imagine some of the bad outcomes...
Yeah, I will just say:
Have a nice day.
0
hiems United States. Feb 03 2021 14:03. Posts 2979
RiKD please stop trolling this fucking forum.
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
On February 03 2021 12:31 RiKD wrote:
Yeah, I will just say:
Have a nice day.
Excellent way to leave it. I am very confident that spending time and energy arguing politics on the internet is not the way to go and I apologise for my part in inadvertently risking inviting it. Well played sir
- Who is responsible for shutting down r/wallstreetbets and the r/wsb discord at the optimal timing for non-retail?
Free speech will continue to be a big issue moving forward.
The reason given for closing WallSteetBets on reddit was hate speech and this is precisely why I've been a fervent advocate for free speech while dumbfucks in the left in their attempts to shut down aything against woever is the victim of the week are building a crudgel for the powerful to shut down what they don't like.
I have doubts of many of my political positions, but this is the one I'm most certain of, In fact I kind of use it as litmut test. I vividly remember Loco posting about supporting censorship and calling free speech "libertarian free speech", knowing him for many years before he even talked about politics I knew that he had fallen deep into a dogma.
On February 05 2021 12:14 RiKD wrote:
quick thoughts:
i don't think trump should have been permanently banned from twitter
same for alex jones, milo, ppl who dead-name or misuse pronouns or really anyone
i mean these homo sapiens r banned for infiniti w/o any redemption?
seems extremely silly
i do like the provisions that germany have put in to their constitution. i don't remember the exact language but my interpretation was that it protects against violence and danger (also doxxing) in a reasonable way. of course, that is my interpretation of a german document translated into english and lawyers and politicians are gon' lawyer and politik.
i saw today that vaush is back on twitch and that is a really good thing. other social media outlets should follow that precedent. (jails/prisons too)
the right cheers when the left gets censored and the left cheers when the right gets censored. it != smart.
i'm not saying some qanon, nazi, kkk members should never be censored and i'm not saying antifa, stalinists, *shanzai marxists should never be censored. the thing is what has happened and what will most likely happen in the future is the state passes draconian laws against 1 group that ends up adversely affecting almost all humans. typically, it won't effect the ruling class and in many cases it will benefit them. cia, central bank, military industrial complex, et al.
maybe i don't want to bring this back up but i think it is important. in the case of antifa: if someone hates antifa and is vehemently against them then what does that make that person? duh duh Doge! (@donk_enby)
everyone is programmed in their own certain ways. it's not good to hate anyone. i think the key is how do we get to rehabilitation/redemption?
re-education camps for the gays in indiana (mike pence), muslims in china, gulags in russia... really too many negative examples to mention...
i would like to here loco's current position on this.
i remember posting on here about what is the Signal (@moxie) of email and i realized last night that loco has been using encrypted email since i've been communicating with him many years ago. he is ahead of the curve on many things and clearly a sharp, deep thinker as well as incredibly well read.
it may be good timing to re-explore this topic.
*clarification required:
shanzhai marxism is not inherently bad. just what came to my mind at the time. i will need evidence to change my mind that maoist shanzhai marxism and the results are not net negative for animals, humans, and the planet earth. in many cases i <3 shanzhai. maybe not the time to go H•A•M on that topic... the key is who (or what group of who) is responsible for the shanzhai and how it is applied.
United States. Feb 03 2021 01:35. Posts 8522
