GME

verysillyman

Why is the crypto market selling while GME is up 80% in a day?

ParadoxSebx

Everyone is too distracted with GME and AMC right now. Someone had to say it.

2BFrank69

I think it’s going to moon soon. People are seeing how manipulated stocks are today. 5 times GME was frozen today on its way up.

3raindamage

Sooo GME moon

Simke11

A lot of people also don't know what they are talking about. 0 correlation between GME pump and new interest in BTC. If anything it's more likely to bring new people into shitcoins than BTC.

OderWieOderWatJunge

But why are they here? GME is still stock?

EdgeLord19941

DFV is a person famous for the GME run in 2021. There was a movie made about it called dumb money

Ofulinac

We should always be friendly, but what does GME pumping have to do with crypto, really for them to come here?

Existing_Web_1300

Fun to see GME mentioned in this sub. That’s when you know it’s crazy. I got out a while ago, but hopefully the gamma squeeze still happens for those who stuck around.

Ofulinac

Without even saying anything either lol Its not like he even mentioned GME

Repulsive-Citron-795

GME keep on pushing. you got this!

ultron290196

So they stopped GME from going up beyond 110% today by halting trades. No one can halt trades for BTC. This difference is the reason why when BTC starts a short squeeze, we will moon harder!

thisguymemesbusiness

If $GME is anything to go by, it has the potential for sure. Now at 35m mc lol https://dexscreener.com/solana/9tz6vykibdlyx2rngwc5tesu4pyve4jd6tm56352ugte

give_me_the_tech

Could this one moon today... I miss the GME hype.

EatMaTesticles

DFV tweeted and the whole market woke up. Look at the GME chart. Look at BTC. Crazy how much influence this guy has.

GoWest1234

GME pump! [https://twitter.com/gmecoinsol](https://twitter.com/gmecoinsol)

HAi7ECH

GME is up 500%

mastermilian

That's my reading as well. An organic attempt at a Ponzi. It's a bit reminiscent of GME. It may keep pumping but at some stage the hardcore believers will be holding the bags.

Ellijah92

I’ll be honest. I bought $10k worth GME stock during the run and my $10k turned into $85k at its peak. I didn’t sell because “diamond hands” and you know what….i sold and ended up turning my $10k into $20k when I should have pulled out at $80k. Don’t put all your eggs in one basket. Diversify your assets especially if you’ve done well with Bitcoin and just sell a little if it can leave you living comfortably with potential to grown in the future.

jail_grover_norquist

GME brainrot

StuartMcNight

🤣 thanks for confirming the brigading comrade GME Kool Aid. 😘😘😘

username2023yaya

So maybe GME? What’s one that you’re sure of?

FilthyLennox

I think I was in POWSCHE for day 1, I've rode the highs and the lows and seen people come and go. I'll tell you one thing, I've never seen a community like this before. This is unheard of, feeling like early GME or DOGE days. Riding POWSCHE way past the moon, where it deserves to be. Thanks to everyone in the community for being so great, love hopping into the chat everyday And thanks to dev

LWKD

Like the SEC gives a shit. They are made by and working for Wall Street. See GME, has around 50% each day otc traded. In the last 3 years after the January 2021 hype almost every day had between 55 - 70% short volume. Has anything ever come from the SEC? No, cause that is not what they get paid for.....

Glittering-Doubt4955

GME tokens that were not backed 1t1 along with tones of other tokenized securities that also were not backed 1t1. You can thank Brett Harrrison from Citadel Securities for that one! FTX not only devasted the crypto space and community but also let wall street scum get away with their crimes. The wrote Sam fat checks while he played LoL and made him complacently happy.

SaneLad

They used to not offer withdrawals. And a lot of people hate them because of the GME fiasco and generally shady business practices.

spearsy33

Probably because of them being shady and blocking trading such as the GME thing

redneck2022

Yup Robinhood got all the heat because they were the first ones to pull the plug and most people on wallstreet bets use RH. Later that day I remember fidelity and other brokers stopping trades for amc and GME

capturendestroy

Robinhood was legally required to stop allowing people to buy GME because Robinhood didn't have enough cash at the clearinghouse to guarantee the trade settlement. You obviously haven't read the SEC report that explains everything that happened with the GME frenzy in early 2021. https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf From the SEC report: “On January 27th NSCC made intraday margin calls to 36 clearing members totaling $6.9 billion, bringing the total required margin across all members to $25.5 billion.” The way clearing works is that brokers are required to keep cash (their own cash, not customer money) at the clearinghouse to guarantee trade settlement which occurs two days later. The more trades a broker does, and the riskier the positions are, the more cash the broker needs to keep at the clearinghouse. When there’s a ton of trading in very volatile stocks, which we saw with GME back in January 2021, the clearinghouses call the brokers to post more margin. This medium article breaks down the long SEC report and makes it easy to understand. https://jonathan-chao.medium.com/debunking-the-myth-surrounding-gamestop-a-summary-of-the-sec-investigation-6f9581ae1a17

capturendestroy

Exactly and it's crazy how many people on Reddit still don't understand that the brokers were required to stop allowing people to buy GME that day because they didn't have cash at the clearinghouse to guarantee trade settlement. The way clearing works is that brokers are required to keep cash (their own cash, not customer money) at the clearinghouse to guarantee trade settlement which occurs two days later. The more trades a broker does, and the riskier the positions are, the more cash the broker needs to keep at the clearinghouse. When there’s a ton of trading in very volatile stocks, which we saw with GME back in January 2021, the clearinghouses call the brokers to post more margin.

Aaaaand-its-gone

Lowest fees to trade crypto. I never bought GME so I’m not bitter

mrpotatonutz

At the time of the GME movement 2 hedge funds were caught in a horribly exposed short position and rightfully deserved to be bled dry. At a critical moment, during a time when RH was pretty much the only retail access to the masses that had rallied together to continue holding and buying RH was pressed behind closed doors into disabling the ability to buy GME on their platform, you could only sell and this helped the hedgies squirm out of a crippling position. This is really grimy and nobody was really held accountable for basically openly fixing things for people who have always held the upper hand

LiabilityFree

Easily the best platform and they seems to have the less fees. I don’t give a fuck about y’all’s tinfoil hat GME theories.

LonnieJaw748

It can be negotiated in the divorce settlement. It’s not automatic that everything is divided in half i the event there is no prenup. My homie recently got divorced and his ex wanted nothing to do with his crypto or GME shares. He forfeited half the equity from their home sale in the negotiation to keep his investments.

Effective_Motor_4398

Absolutely. All those shorties that are short $MSTR right now have to be tense. Then $GME starts taking an uptick. Here's to a free and fair market.

OtherwiseTheClown

That's rookie shit. I traded this dipshit 10,000 BTC for like 3 pizza. And I still have 9999 of them. I used one to buy GME options when it was exploding. I am a multi-millionare now and looking for my next investment. Hopefully someone on reddit can recommend.

Get-It-Got

Yep, I agree. The one area of this that might get into tinfoil is the tokenization of securities, because this rule would impact that as well. Among the likes of $GME and $AMC investors (of which I am one), there is the suspicion that tokenized shares, especially the ones created by FTX, were being used in their billions as locates for shorting the stock of these cmpanies into the ground. By yanking the ability to used blockchain assets as collateral, these types of assets could no longer be used for what is effectively naked short selling. Time will tell how correct the suspicions actually are.

Oheson

No need to try to convince a smooth brain who thinks Bitcoin can be compared to GME.

Turbulent_Shoe6565

ETFs are being used to short bitcoin just like they did GME. change my mind.

randomroute350

Exactly, this is GME level retardation in a different form.

foks1er

Yea, but fuck Robinhood after removing the buy bottom for GME… #NeverForget

cosmoshistorian

Bitcoin is by far my largest holding, however I did not initially set out to make it so, it just became! But ain’t selling anytime soon. I buy a decent amount of stocks and some other cryptos but I swing trade those. The only things I hold long term are BTC, VOO, and, don’t shit on me, but GME. Purely because I am stubborn and it is a middle finger to robinhood, Vlad, Congress, and Ken!

electricmaster23

Lets never forget when they screwed over the GME shorters. For that, they will never get my business, and I hope everyone else looks elsewhere for their crypto/stock dealings.

Ziplock13

I have a hard time believing this is about trades using their crypto portfolio as leverage for their margin accounts. I believe this is about "Tokenized Stocks" (think FTX's GME claimed 1:1 token) that are speculated as being used to cover a short position as the token was claimed to serve as a "locate." Go to r/GME they have a whole write up on it..

Loose_Screw_

The GME thing eventually struck me as a bit weird because the central thesis is that investing is rigged and lots of big players are acting unlawfully, but the proposed reaction to that is to buy and hold shares **using the systems you think are corrupt**. And somehow the powers that be are eventually going to be forced to own up and play fair? If the game is rigged (and I'm not agreeing it is) you don't get even by **playing the rigged game**.

Blekiz

Same brother. Im from outside of US with no access to GME craze at the time, the next narrative is DOGE to $1 so i plunge into the depth of crypto hell.

riscten

You're not trusting any miner. Everything the miners do is out there in the open. This cannot be underlined enough. There is absolutely ***ZERO TRUST*** in the mining process. You can check every single thing they do, down to the last bit. That's the entire point of full nodes. Don't trust, verify. This is wildly different from giving your money to Blackrock/Coinbase and trusting that they're not betting it all on GME.

HolidayAnything8687

GME/Dogecoin pumps made me get into it, I thought damn I could make a lot of money doing this. Well turns out peak market 2021 was a bad time to join.

tigercook

GME

Vegetaman916

I quit my job back in 2019... Taxes, lol. Perhaps look far, far back in my post history to see more about how I am. There are so many LLCs, so many kyc verifications in so many homeless peoples names, and so much "creative" bookkeeping for my poor CPA... I mean, the K1s alone have me sending out more 1099s each year than I do Xmas cards, lol. And I've been doing stuff for a while. Not long, but long enough. No matter what taxes I had to pay now, it wouldn't get close to how much I paid after GME hit 370, which is where I sold... It's all free money. Trades can't go bad. Because even if you have to wait, it *always goes back up.* That is the thing everyone misses. They sell red, and that's insane. Hey, I had a bag from the end of 2021 as well, good ol' vechain. Did I sell it red? No, I sold it a few months ago for a damn *profit,* because if you just wait *it always goes back up.* People think I post this stuff to be a dick. But that's not it. Between this and some Amazon stuff I post about, I haven't worked for *5 years* and I am doing better than ever. You want taxes? I owed the IRS 21k back in the day. GME paid it. AMC paid all the credit debt. And hell, maybe it was MVIS or SNDL that paid off the car, I can't remember. The reason I post this crap is because *I want everyone to do it!* The economy sucks, renting sucks, working sucks, bro... just stop. This can't fail. It hasn't failed once. Pick a date for next week. I will post a trade. And then I will post the cashout, *within a week* of that trade. It works every time, and I just want everyone to have what I am having, and shut down the naysayers that are denying it to them.

Disastrous_Gift_2003

GME short squeeze will show to the world that all these cryptos are actually owned and operated by all the banks and their family office subsidiaries that trade along concurrently to make it look like “retail” traders. When crypto gets mass liquidated to buy back ridiculous short positions across the market remember this tinfoil. Satoshi is the feds

TuggenBallZ

lol wut? You say you’ve had all this BTC and yet you somehow thought you truly owned/controlled you wallet on…robinhood? Did you totally forget the fiasco that was robinhood due to GME? Honestly you deserve this

Modern_Ketchup

did you miss the movie on this ? robinhood fucks their customers plain and simple man. idk why you didn’t jump ship sooner, especially after the GME stuff

Unclestanky

Don’t do anything on Robinhood, ever. They sold out all their customers in the GME debacle. Which IMO they are so blatantly guilty of insider trading. Well, whatever. But exchanges with Crypto are a bad idea in general, especially an exchange that has a history of blocking users when it inconveniences them. Take your $, send it to me, and I’ll tell you how much crypto you own whenever you like, but no guarantees when you withdraw it. Sounds like a scam? That’s because it is.

draggingmytail

Bro if you used them since 2021 when they killed the GME bull run, you have no excuse for this.

505hy

Why would ANYBODY use Robinhood after the GME shitshow is beyond me. They are pissing into your pocket and not even telling you it's raining - they are telling you they are pissing into your pocket and you are happy with it.

Harucifer

Tell me you're a GME nut without telling me you're a GME nut.

FalconGhost

He’s kinda right tbh, i mean if i would’ve dumped my life savings into BTC in 2010 I’d be rich or into GME before it ran up or Tesla or …..

Legwion

In the "normal" markets where you can buy stocks like apple and tesla, tickers have their name shorted to 3 or 4 letters, like $APPL or $GME

Ok-Tradition-6350

Check for a GME tramp stamp

SnowyDesert

and GME hype that was all over the news which then shifted into btc and doge craze

blorpianblorp

Reads alot like the short squeeze folks bag holding AMC, BBBY, GME lmao

LivingTheTruths

Take the stupid AMC GME bs out of here lol

OsloPanzer

This sub gets flooded with GME-type noobs every bull run who think they will make an impact spamming nonsense like: «If everybody justs HODLs💎 🚀» Stack if you want to. Sell when you want to. Everyone is in this game on their own.

SOBmoney

GME Game GME Stop

Nigel_Thirteen

First GME now this I’m sorry it’s cause I finally bought Bitcoin

Particular-Sand-1134

Mind doing some charity for the sad apes that betted on GME? :)

Michikusa

I’ve unfortunately got 330 shares GME at average price of $38. Down $9k. Should I average down? I have time to wait and cash to buy. Or am I just throwing more money away. I could double my shares today with another $3k. But man I really don’t want to

MikeMiller8888

Lmao, fucking their customers would have been restricting *selling*. If you sold GME right when they disabled the buy button (which is freaking obvious to anyone that knows basic market economics) you made a fortune. Anyone that bought the stock in the week after that buy button was disabled lost their shirts. Robinhood saved their customers. It sucks that Citadel effectively ended the squeeze, but what did you want them to do? Take money from customer’s accounts to cover the three billion? Or stop all trading because they had no clearing house? Wake up and go read the congressional investigation documents. Or watch Dumb Money.

MikeMiller8888

Eh, he’s right. Vlady doesn’t give a shit what his customers buy. He restricted GME purchases when his clearing house, owned by Citadel (Melvin’s savior) required him to post three billion dollars to keep buying GME, or 1.1 billion to cover the existing stock in customer’s accounts. He chose the $1.1 billion route. Remember, there was a congressional investigation.

frumpydrangus

They’ve had basically 1 bad rap because of GME, which every broker disabled the buy button. But because Robinhood was popular at the time they took all the blame when their hand was forced to disable buying by the order flow company

frumpydrangus

They didn’t pull anything with GME. Order flows restricting buying with multiple brokers but rh gets all the hate

Typesh055

Hate to make a rude comment like this, but anyone that still utilizes Robinhood while Being aware what they did on their platform during the GME debacle, deserves to have their money stolen.

BIGDADDYCRYPTO6900

This war is all but a distraction from LOLrc and GME from accomplishing MOASS.. HODL. 😂

amiszilla

Robinhood took off the “buy” button forcing GME to crash.

WhatchaTrynaDootaMe

yeah that whole idea of the power low is pretty dumb... remembers me of GME

eudezet

Stocks end up on blockchain. GME: „shitshow is back on the menu”

Long_Measurement3999

It’s such a bigger market and concept than GME. It won’t be some fluke swing trade that 15x’s us from here I don’t think. The numbers are too big

Level_Willingness790

Folks are always squaking about "when $1M bitcoin?" My gut tells me that the first $1MM will be when a fool-hardy wall street firm shorts bitcoin (a la GME) and no one sells.

nxs_sss

Oh are you a GME bag holder? RH gold is $5 per month. Is that the requirement you speak of? Proof is in the pudding. Look at how much money has been moved to RH this year. You need to get over your GME/AMC meme stock losses.

holddodoor

And deeming whatever they want as “setting the price…”. GME fan here

tannerjohngates

Hahahah. You're not the first person to say that. I'm guessing you've never seen the movie Dumb Money. TLDR: They initially only traded paper bitcoin and not actual bitcoin you could send to another wallet and let many remain ignorant of the fact. They also halted trading on speculative stocks like GME a few years back when it wasn't going well for them. Watch Dumb Money, it's great.

Drspaceman1717

You can short squeeze anybody if you can raise the price enough. GME was an extreme example.

OkSignificance9774

Yea, sounds like every GME holder in 2021.. Everyone’s a lifetime holder when things are going well..

Axon14

It is and it isn't. As an earlier post in the sub today indicated, western governments know they can cop our 401ks and investments if ever needed. Robinhood went out of its way to protect a private equity fund when GME shorters were kicking their ass. So it's not all that crazy unfortunately, it just feels like it's different than standard FIAT.

LucasGC2014

Isn’t it weird to not be able to trust the exchanges you need to buy and sell an asset? This is like when people went crazy over GME converting to computershare instead of schwab/fidelity which was entirely unnecessary. If platforms can just steal your wallet doesn’t that add an illegitimate element to crypto that should give concern?

dormango

Consider first BTC’s mcap vs GME (for example)? Then consider the shorts % vs mcap of both. Then consider the liquidity of BTC vs the liquidity of something like GME. Then consider if the two are really all that comparable. Then consider what you’ve written again.

knuckle_buster69

And GME 🌎🚀🌙

_RonPaulWasRight_

It was on the r/wallstreetbets sub. Basically they noticed that there was a huge short position in GME, so large that in order to cover it, the hedge funds would need to source stock shares that exceeded the amounts traded in a typical day...which meant the hedge funds were overexposed on the short side. So, they all started throwing their money at it long. Well, that pushed up the price and created a powerful "short squeeze", where the hedgies were forced to cover their shorts, which pushed up the price even higher, etc. But, the same situation doesn't exist in Bitcoin, at least that we know of. It's nonsensical to say "let's all buy on X date." No, just buy it now if you want sats.

brando2131

>You guys realize he's single-handedly trying to centralize Bitcoin when he's buying up such a large portion of the available Bitcoin, right? You realize centralisation doesn't happen when you buy up all the available Bitcoin, right? Have you ever heard of NVIDIA centralisation? Or the wallstreetbets centralisation attempt of GME stock? No because that would be a silly thing to say.

gokhaninler

you're a moon boy i get it. Did the GME sub kick you out?

PeeCola

I did. Twice, first wasn't for BTC but GME, made an 8X in less than a month and paid the bank back with 0.00% interest as the interest only accrues on monthly basis, and the squeeze happened within my first month after the loan. Jan 2021, had a post about it can be found in my history. Just recently with BTC, last November, got a loan for 20% total interest over 5 years, price was $33K so I can already sell half of it and pay back the bank, but I'm better off just paying back the monthly loan amount the next 5 years.

TomSurman

Robinhood is the one that stopped people from buying GME a few years ago, in order to bail out their hedge-fund friends who were shorting it.

iSOBigD

Remember the last time crypto blew up and GME was big and suddenly all these shills and ads were pushing gold and silver? The same gold and silver that's lost value for years. They're just people who make money off of suckers buying that shit thinking they'll beat the market.

Rags_2_Riches_2

Got as much as I could when it dropped like a rock and wish I could have gotten more… but my cost average is currently around 21 per BTC and I am in double digits in coin. I need another drop to grab another dozen hopefully. Just the evolution of my GME run towards a million.

courtrye

A big part of its value is self custody. If they short and use synthetics like GME, that’s more real BTC for Microstrategy, Qatar, cyberpunks, Afghans, Japanese, etc.

karma_hit_my_dogma

I thought it came from the GME short

SmoothGoing

ETF can dump coins. They don't care about price since they didn't use their own money to buy coins. GME had a 140% short float. Bitcoin won't be like that, silly comparison.

8512764EA

Fixed Float grifting the GME-cult crowd. It wasn’t a hack or exploit. They planned it and it looks like a hack. Stop using shitty, shady sites

TheSourceOfUrAnger

When I say the essence is similar I mean that both groups have identified this ability for people to pool their resources together and store their value in something. And they see they can leverage their collective power to create opportunities for themself. Bitcoin is a more fleshed out iteration of that concept. In Bitcoin we all participate in a network and the more participants the more useful the network is, and the more people who try to collect the coins the more valuable they become. GME people get lost in the weeds and fail to see the bigger picture: yes, there’s a way to substantially improve your situation. And yes by pooling together our resources we can achieve something extremely significant. The GME people are getting caught debating the specifics, but they’re missing the forest for the trees. We can achieve something great here and we don’t need some entity to do what we want or rely on some arbiter to treat us fairly and judge us honestly. And in fact getting caught up in those type of elaborate things often functionally diminished the power of those people because they’re spread so thin between so many different ideas cause they’re constantly finding new things that they want to do.