sure but if it’s true it also shows they didn’t think about the margin account angle and were like just ‘f u sell sell citadel are mad at us’
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Or angrily scrapping Chapter 1 of his new book “Reddit Idiots” because now everyone wants to read "Um Actually the Story Here is The Corrupt Relationships Between Brokers and Insider Hedge Funds ".
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Exactly. Seems more like mashing buttons, but who knows?
Same boat.
I know I’ve said that WSB and QAnon both come from the same 4chan source. GME is WSB’s Trump 2016 and maybe we should be thinking about what the exploits are for when they go all-in on the equivalent of Trump 2020.
Watch first 9 minutes of this video for a good explanation of WTF went down today on the prevention of buying for stonks. This is probably one of the most bullish things for cryptocurrency that i’ve heard of in a while. Basically the combination of a third party (clearinghouse) plus market volatility and settlement time caused everything to break down
Summary from reddit:
For a lot of good reasons, brokers are limited to a large but finite amount of trading. While trading and transfers occur electronically, trades are settled (at the back office) only after 2 days. And the broker needs to have a small percentage of each trade ‘on hand’. This is to ensure that when you sell 10 shares of a stock for $10, you will get $100 in your account. And this isn’t net. If a single account from wsb is selling 10 times and buying 10 times in a day, Robinhood is on the hook for all those trades for 2 days. Robinhood was apparently struggling to keep up with the huge number of trades and then the amount they needed to keep on hand for each trade was increased tenfold (due to the risk). At that point, they would have had to risk their whole brokerage to keep trading.
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don’t use robinhood
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I’m no fan of this chamath guy, but holy shit if he drags a bunch of 20something bros over to aoc’s channel and she wins even just a handful of them over with her message that is a huge good for this country
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This all ordeal has been been very confusing. I find myself being on Dave Portnoy, Chamath, misogynistic WSB redditors and now crypto nerds’ side.
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Yeah my radar is up on Chamath being a mega douche.
He is way too hungry for attention, way too exited to tell you how rich and smart he is, incredibly arrogant and sanctimonious, and perhaps most importantly was an early Facebook employee who didn’t quit until long after it was obvious the company is evil.
That said, if he brings random basement dwellers over to our side, great.
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yeah, even Elon Musk is one the WSB side which gives me a real “ends justifying the means or not” dilemma
The MEME index is up bigly in after hours…
Wow, it is. GME back up to like $340.
Just understand that he’s not an ally, he’s a tool to be used. (And when he stops being useful, then he’s just a tool.)
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The enemy of my enemy …
The same thing we buy every night, DUCY… GME.
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Think I saw earlier in the thread someone link to “the founder of wsb” giving interviews. FYI dude is (shocker) a complete scumbag who tried to monetize the sub about a year ago and got ousted and is now clout chasing to promote his book. Thread here:
Gonna rub it on my titties.
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