https://www.reddit.com/r/dankmemes/comments/l6otwv/capitalism_is_dead_long_live_the_power_of_memes/

how do you think this will play out?

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I'm watching this closely. If I had to guess I would say anything that is liable to upend the power structure is going to get nerfed to oblivion. Wall Street and Multinationals have the politicians ears and they wouldn't go down without a fight.

is reddit anything like github ?

I frikking HATE github.
what a bloody shambles, I can never find anything there.

But absolutely no clue what redddit is. 

The thing about bringing down multinational corporations is that - we all suffer.
Any investments you might have are devalued - any pensions you have are devalued.

Like most revolutionary 'ideas' it sounds good in theory, but in practice only the people who want change ever really suffer.

I agree with Morphy. It’s a one hit wonder.  Also... it IS artificial manipulation on both sides. Even though the Reddit move is being hailed as a victory for the little guy against big, mean Wall Street corporations, I don’t think that’s the right way to view this.

Presumably the people shorting Game Stop were actually betting on Game Stop, but really everyone is betting on what everyone else is going to do when a short is involved. The shorts may have been greedy, but there was some sort of association between their actions and the success or failure of the company they were trading. The Reddit mob traded with the express purpose of damaging those traders and profiting from it. That’s not justice for little guys. That’s just another destructive group of greedy people. There are no heroes here. Only villains.

@CA Reddit is basically an enormous forum with a more modern interface than slinging.org (and a few more users too)

Github is a source code repository... it’s not intended to be a software search engine.  The search feature only works if the code author(s) actually tell you what the code does, and a lot of people like cutesy names that are not helpful.

The two are not very similar other than that they are both web-based and both popular.

NooneOfConsequence wrote on Jan 28^th, 2021 at 8:12am:

I agree with Morphy. It’s a one hit wonder.  Also... it IS artificial manipulation on both sides. Even though the Reddit move is being hailed as a victory for the little guy against big, mean Wall Street corporations, I don’t think that’s the right way to view this. Presumably the people shorting Game Stop were actually betting on Game Stop, but really everyone is betting on what everyone else is going to do when a short is involved. The shorts may have been greedy, but there was some sort of association between their actions and the success or failure of the company they were trading. The Reddit mob traded with the express purpose of damaging those traders and profiting from it. That’s not justice for little guys. That’s just another destructive group of greedy people. There are no heroes here. Only villains.

From what we see there is value in the gme stock and that's all that matters not where that value comes from, its value may not be based on profit or growth but on perception of value same as gold, money or other stocks it's not something new.

Those who took the risk of selling something borrowed would make profit but a risk is a risk and didn't go as they planned and now they have to pay for it, they dont have the money they weren't prudent enough.
Why do you put common people and corporations in the same box and call them villains?


Curious Aardvark wrote on Jan 28^th, 2021 at 8:06am:

is reddit anything like github ?

I dont know what github is. I use reddit for world news, mainstream media world news are week old or not existent.


Curious Aardvark wrote on Jan 28^th, 2021 at 8:06am:

The thing about bringing down multinational corporations is that - we all suffer. Any investments you might have are devalued - any pensions you have are devalued.

It seems that the inverse happened here, the corporations want to devalue the gme stock so they can buy it and return it to those they owe. Investors want to keep their stocks, so price goes up. In contrast when there is a collapse investors want to sell and they all lose because they sell lower than they bought.

Exploits get patched.

My favorite line so far has been "this isn't investing it's betting" as if the hedgefunds weren't betting. Equating the groups is wrong, the hedgefund corruption is miles away worse. But CA is ultimately right, we tolerate their corruption. We don't want a hard reboot. We just want the corruption kept within reasonable margins.

I saw this situation described as an expose on the corruption of capitalism. If you want change you would need a revolution.

Kick wrote on Jan 28^th, 2021 at 10:11am:

If you want change you would need a revolution.

that's a topic for the future. But it's kind of a revolution that people don't sell collectively. Right now it seems that people don't even know or don't want to recognize what is the problem.

@NOOC- It's essentially economic guerilla warfare. The issue I'm seeing is in this case their really does need to be a shake up because those in power are also playing their own game and they are far less innocent than these people.

@Joe- exactly what I thought. This is a bug in the program. It will be patched one way or the other.

@CA- true, all true. But the other option is the inevitable continuation of more and more money and power being secured by a relative few. And one way or another if left unchecked it will get bad. Notice I offer no solutions because without considerable pain I don't see this situation fixing itself.

Morphy wrote on Jan 28^th, 2021 at 10:41am:

@NOOC- It's essentially economic guerilla warfare. The issue I'm seeing is in this case their really does need to be a shake up because those in power are also playing their own game and they are far less innocent than these people. @Joe- exactly what I thought. This is a bug in the program. It will be patched one way or the other. @CA- true, all true. But the other option is the inevitable continuation of more and more money and power being secured by a relative few. And one way or another if left unchecked it will get bad. Notice I offer no solutions because without considerable pain I don't see this situation fixing itself.

So they need to err... revise their proprietorial version of the Black-Scholes equation? https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_model

I can't complain - understanding this stuff has made some of my physicist type friends tolerably or more than tolerably wealthy. I'm not one of them  :).

And the big boys got burnt? - they claim their services are their for control of risk, that is why they pull down the very big bucks. Tough. So yes, expect them to be saved from oblivion in some way or other.


What particular program might you patch?

Conceivably they might try some conspiracy charge against all those small traders.

wanderer wrote on Jan 28^th, 2021 at 12:09pm:

Morphy wrote on Jan 28th, 2021 at 10:41am: @NOOC- It's essentially economic guerilla warfare. The issue I'm seeing is in this case their really does need to be a shake up because those in power are also playing their own game and they are far less innocent than these people. @Joe- exactly what I thought. This is a bug in the program. It will be patched one way or the other. @CA- true, all true. But the other option is the inevitable continuation of more and more money and power being secured by a relative few. And one way or another if left unchecked it will get bad. Notice I offer no solutions because without considerable pain I don't see this situation fixing itself. So they need to err... revise their proprietorial version of the Black-Scholes equation? https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_model I can't complain - understanding this stuff has made some of my physicist type friends tolerably or more than tolerably wealthy. I'm not one of them  :). And the big boys got burnt? - they claim their services are their for control of risk, that is why they pull down the very big bucks. Tough. So yes, expect them to be saved from oblivion in some way or other. What particular program might you patch? Conceivably they might try some conspiracy charge against all those small traders.

I won’t pretend to be a day trader or attorney. The extent of my knowledge is that those in power, if they have a way to shut it down without too much blowback they will. Not sure how they will plan on shutting it down but one thing I am sure of is that with the laws and tax codes in this country being so convoluted if they want to find something to nail people on they won’t have a problem doing it.