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Reddit r/WSB bankrupts Hedge Fund using Robinhood

James Fake

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Specifically on what Vlad is saying right now; my BS radar is going off major tough.

Hmm... interesting.

HOLY F... Elon straight up asked him what is Citadel got on you. lmao

Update: Elon is F*cking grilling Vlad right now. Vlad's explanation on Citadel was complete BS.
 
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AFMKelvin

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Specifically on what Vlad is saying right now; my BS radar is going off major tough.

Hmm... interesting.

HOLY F... Elon straight up asked him what is Citadel got on you. lmao

Update: Elon is f*cking grilling Vlad right now. Vlad's explanation on Citadel was complete BS.
Do have any invites left?
 

SeePetey

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Stunning in a negative way. Full of cursing, naming, acting childish. I have not seen a single post-reaction that could add any value. All these people there presented so far were ignorance and stupidity. It indicates that many just join the frenzy with a complete lack of understanding of what they are doing, riding the bandwagon, and maybe, in the end, they will be the lucky ones. But most will just end up holding the bag.

This is like a mission statement for WSB lol. They would take your impression as a badge of honor.

It's not intended to serve as a legitimate source of investment advice, I mean, they had a guy publicly posting his trades that were based purely on which side of his yard his dog crapped on that day. Other times guys have invested based purely on a vote of the community.

It used to just be a community that let people showcase their dismal failures, have some laughs, and they even occasionally got it right. In this case, they got it really right but unfortunately also brought a tremendous amount of attention, especially from folks who legit do not understand that it is not a traditional stock trading forum, hence the shock and disdain when encountering it for the first time.

Not gonna lie, I've loved WSB for a long time and do goof around with some their ideas. That's my version of going to a casino with some idiot friends and playing blackjack for the occasional weekend thrill.

So WSB for the lulz, Fastlane for reality.
 
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NovaAria

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Welp guess it's too late to buy silver.


I just saw a graph that showed how silver's price hasn't budged while other assets have inflated 100-200% or something ridiculous.

So yeah... Keynes' supervolcano clears its throat.

I cant find reliable info now as bot armies are on full red-alert mode and every website is basically an echo chamber, but I saw crazy numbers like 95% of the silver market is just paper silver. The uncertainty in stocks right now and the talk of cryptocurrencies regulations means that metals are the only "solid" investment.
So, physical silver is in short supply, everyone wants in on it, there is an entire army of investors with a short attention span who are looking at their meme tickers going red and the silver ones going green....
Boy, oh boy.
 

theag

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NewManRising

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I got an email this morning from the Robinhood dirtbags telling me that my account is restricted and that I can only close out positions and no longer purchase stocks.

I'm going to be closing out soon and moving my cash over to Fidelity most likely. Was Fidelity one of the companies that also blocked the purchase of GME? I don't own or plan on buying any but I don't want to support companies that don't support free markets.
 
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theag

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Was Fidelity one of the companies that also blocked the purchase of GME? I don't own or plan on buying any but I don't want to support companies that don't support free markets.
Are you asking us because you researched this for hours with no result?

Do you make all your investment decisions based on replies on internet forums?
 

NewManRising

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Are you asking us because you researched this for hours with no result?

Do you make all your investment decisions based on replies on internet forums?
You can't get a straight answer. Some people say they did and others say they didn't. Same with E*Trade, TD Ameritrade, and a few others.

EDIT: BTW, I did multiple Google Searches and read multiple articles and none specifically name Fidelity or even the list of brokers that blocked stocks. So, I figure it would be easier to find out from someone who uses Fidelity. This isn't quite the same as asking for stock advice, numbnuts. But thanks for being useless.
 
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theag

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RemySheppard

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Out of curiosity, I have joined the WSB group at Reddit. There are a few really good posts out there to read. What is sad and stunning are the reactions of the members' to those posts. It is actually horrifying. Some post a relatively good article on the recent pump and dump stock $BB and the reactions are stunning. Stunning in a negative way. Full of cursing, naming, acting childish.
I don't know if anyone has said this yet because I haven't read the whole thread, but dude that's all of Reddit.

It does not matter what subreddit, or what you post, 90% of the people there will just shit on you continually because you dared to voice your thoughts.

You're wrong, and some european manlet who wears 6 masks and rides a bicycle to his job at the soy milk factory who knows better than you will explain exactly why you're wrong, and that's just the way of things.

I avoid Reddit altogether for that exact reason.
 

James Fake

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I sense irritability and anger. Emotions show cards in hand. Will continue to counter-trade until tune flips then I shall counter-trade that.
 
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Kak

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Black markets have always existed. If bitcoin is banned it'll go up in price.

Then one of us will be right. If you're buying and I'm selling that's the essence of a win-win transaction.
 
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lludwig

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It does not matter what subreddit, or what you post, 90% of the people there will just shit on you continually because you dared to voice your thoughts.

You're wrong, and some european manlet who wears 6 masks and rides a bicycle to his job at the soy milk factory who knows better than you will explain exactly why you're wrong, and that's just the way of things.

Sounds a little like this forum...at times. :)
 

Kak

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Well, I have a big and old position in silver. This should get interesting.
 
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PapaGang

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Coinbase has a record of all my crypto transactions.

When I made trades on Binance and Bittrex, they asked for my drivers license. To suggest that some central power with all the spying resources cant do a simple origin trace ($USD > BTC) and find (or plant) some nefarious evidence that BTC is being used to "finance d0m3stIc terr0rI5m" is not paying attention. When I buy BTC, the funding comes from my linked bank account, it isn't a cash transaction in some back alley.

You can also bet that the IR.S will make damn sure that transactions are taxed -- tax evasion is ALREADY punishable by jail-time.

If BTC transactions are made illegal, the security of your coins is irrelevant. All they need to do is prove that you own it and have made transactions (I'm assuming originating from a Federally Insured bank account?) -- then it's off the slammer.

Right now the biggest threat to digital assets is WHO they threaten.

And guess who that is?

Your trusty government.
Exactly. I knew the minute Bittrex asked me for my ID, the repercussions involved, and knew what I was getting myself into. No one should have any illusions that there is a possibility of being tracked.
 
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csalvato

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Exactly. I knew the minute Bittrex asked me for my ID, the repercussions involved, and knew what I was getting myself into. No one should have any illusions that they are being tracked. I know where I lie in the pecking order of power here. So should everyone else.
If this really bothers you, buy Monero and switch it to Bitcoin using a bunch of services under their KYC limits.

Or go on localbitcoins.com and buy directly from someone else anonymously without an exchange.
 

NovaAria

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Well, I have a big and old position in silver. This should get interesting.
From what I am observing and with my 80 IQ reasoning, I am coming to the conclusion that "someone" out there is trying to cause a decoupling between paper silver and physical silver.
Could be big pockets shorting SLV, could be an outside force trying to shake up the financial powerhouse of the US, could be hedge funds trying to move attention away from meme stock to silver...
Could be a lot of things, but it's so easy nowadays to start market movements with just a handful of bots and a good pack of useful idiots. All this crazy volatility is good for those who want to make a quick buck but we all know what happens to those who try to time the market.

Interesting times ahead.

Hot damn leave some testosterone for the rest of us, mate.
 

MJ DeMarco

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I think this has a probability of happening, but it's extremely small.

Ah ok, then we simply disagree to the extent a central power is willing to weaponize its intelligence and police agencies to coerce and threaten its citizens to maintain power. (BTW, it all of human history, it happens often)

IMO, it isn't an extremely small probability (<1%) but in the teens.

As so it goes with risk assessment... what one thinks is a small tail risk, another sees it as much larger.

Thank you for the explanation.

and read multiple articles and none specifically name Fidelity

I have Fidelity accounts and never got an email mentioning any trade bans. The Fidelity trade interface though is really archaic.
 
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csalvato

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Ah ok, then we simply disagree to the extent a central power is willing to weaponize its intelligence and police agencies to coerce and threaten its citizens to maintain power. (BTW, it all of human history, it happens often)

IMO, it isn't an extremely small probability (<1%) but in the teens.

As so it goes with risk assessment... what one thinks is a small tail risk, another sees it as much larger.

Thank you for the explanation.

Yeah, it definitely seems that we differ in the probability of such a horrific outcome.

For the sake of discussion: if your worst-case scenario does come to pass, and we become a nazi-level authoritarian state, many people would flee, right?

That would be similar to how Germans fled Germany and settled throughout Europe and the Americas.

(FWIW, I know I would flee, personally.)

In the case of fleeing from an authoritarian regime, isn't crypto more portable and safer than having your money in a centralized institution, controlled by the authoritarian regime that can nationalize or seize it at will?
 

NovaAria

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And yet, as every major financial news source is proclaiming that silver is the new GME and that r/WSB is buying it en masse, 8 of the 10 first posts on the sub are all about how you should NOT buy silver. In fact, they know that the biggest holder of silver contracts is Citadel, the very company they are "fighting".
You don't need a ferret's nose to smell the fishy business going on here.
 
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socaldude

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I have an idea LOL.

Let’s short and gamma squeeze the VIX.

It will be a February 5, 2018 repeat. Lol

It’s one of the most shorted and manipulated index. Lol. I would be down for that.

:rofl:
 

LightningHelix

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My two cents in this whole bit.

While I think in theory the buy and hold strategy in this particular case is sound, since the Hedge fund has its pants down with a 140% short sell. However, I think we can't underestimate the power of coersion and disinformation campaigns, this has the potential to cost infinite in losses, they won't go silently bunkrupt and are clearly trying to use every ressource at the disposal to stem the hemorraging (Connections to Robinhood, disinformation campaigns, etc.).

It could easily ramp up to WSB being labeled a t3rrorist Operation. Don't underestimate the stupidity of these people jumping onto the bandwagon and then suddenly jumping off. I wince when I see people dumping their life savings because they think its free tendies or for some moral high-ground to get back at Hedge Fund managers. There is a lot more emotional decision making at place here and while the core of WSB may have some idea what they are doing, they will be inundiated by "revolutionists" and those looking for a quick buck. The strategy of everyone buying and holding only works if they all do it, which is pretty much not guaranteed to happen once enough fear and pressure comes about. Those who held to the very end can likely be caught holding the bag.

Will they all hold together? Maybe. But there is inherant risk associated with it, these are not guaranteed free tendies. I already see a bunch of late-comers who hurry up and buy at 350+, expecting it to go to 1000 or something. Like I said some people dump all their profit or life savings in it. God, I'd be sweating bullets if it were me, because literally anything can happen.

If your going to play this game, at least wait out for a significant dip so your floor is not too far off. And never bet more than you are willing to lose (that should be obvious.). But these things are like 101, and since this week WSB is flooded with droolies who can't even grasp this concept.

Personally, I'm still undecided on my move with respect to this and watching things unfold. Those uninitiated, should be made aware that this particular case is not so special as to have 0 risk.

Note: This is not financial advice, I sell floppy tacos in my moms' basement, I am not a financial advisor.
 
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AFMKelvin

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In fact, they know that the biggest holder of silver contracts is Citadel, the very company they are "fighting".
You don't need a ferret's nose to smell the fishy business going on here.
That's why they're buying physical silver to give Citadel another blow. If all the physical silver is unavailable what exactly are you trading with "paper silver contracts." They want to expose that.
 
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MattR82

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This is a truly captivating thread, for real, I cant wait for the movie. Hasn't been anything good come out in ages hehe.
 

luniac

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Just bought 1 share for GME for 245, TO THE MOOOOOOOOOOOON!!!!!!!!!!!!!!!!!!!!!!!!

lol don't care too much about the money for this, just wanted to join the movement.
 

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