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Sarosh
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gg
Jan 28th, 2021 at 6:56am
 
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"The main reason we stop doing something we love is because we forget our love of doing it for enjoyments sake and replace it with the desire to be good at it."
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Morphy
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Re: gg
Reply #1 - Jan 28th, 2021 at 7:03am
 
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.
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Curious Aardvark
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Re: gg
Reply #2 - Jan 28th, 2021 at 8:06am
 
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.
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Do All things with Honour and Generosity: Regret Nothing, Envy None, Apologise Seldom and Bow your head to No One †- works for me Smiley
 
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NooneOfConsequence
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Re: gg
Reply #3 - Jan 28th, 2021 at 8:12am
 
I agree with Morphy. Itís 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 donít think thatís 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. Thatís not justice for little guys. Thatís just another destructive group of greedy people. There are no heroes here. Only villains.
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ďMy final hour is at hand. We face an enemy more numerous and cunning than the world has yet seen. Remember your training, and do not fear the hordes of Judas. I, without sin, shall cast the first stone. That will be your sign to attack! But you shall not fight this unholy enemy with stones. No! RAZOR GLANDES!† Aim for the eyes! May the Lord have mercy, for we shall show none!ď† -Jesus the Noodler
 
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NooneOfConsequence
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Re: gg
Reply #4 - Jan 28th, 2021 at 9:01am
 
@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... itís 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.
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ďMy final hour is at hand. We face an enemy more numerous and cunning than the world has yet seen. Remember your training, and do not fear the hordes of Judas. I, without sin, shall cast the first stone. That will be your sign to attack! But you shall not fight this unholy enemy with stones. No! RAZOR GLANDES!† Aim for the eyes! May the Lord have mercy, for we shall show none!ď† -Jesus the Noodler
 
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Sarosh
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Re: gg
Reply #5 - Jan 28th, 2021 at 10:00am
 
NooneOfConsequence wrote on Jan 28th, 2021 at 8:12am:
I agree with Morphy. Itís 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 donít think thatís 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. Thatís not justice for little guys. Thatís 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 28th, 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 28th, 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.
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"The main reason we stop doing something we love is because we forget our love of doing it for enjoyments sake and replace it with the desire to be good at it."
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perpetualstudent
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Re: gg
Reply #6 - Jan 28th, 2021 at 10:01am
 
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.
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"Facts stand wholly outside our gates; they are what they are, and no more;they know nothing about themselves and they pass no judgement upon themselves. What is it, then, that pronounces the judgement? Our own guide and ruler, Reason."
 
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Kick
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Re: gg
Reply #7 - Jan 28th, 2021 at 10:11am
 
I saw this situation described as an expose on the corruption of capitalism. If you want change you would need a revolution.
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You are a great guy Kick but also slightly scary at times. - Morphy
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Sarosh
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Re: gg
Reply #8 - Jan 28th, 2021 at 10:25am
 
Kick wrote on Jan 28th, 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.
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Morphy
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Re: gg
Reply #9 - 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.
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"I think this guy is the king of trolls of the forum, he waited 16 years just to say this. please pay your respects in an orderly fashion."-Sarosh
 
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wanderer
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Re: gg
Reply #10 - Jan 28th, 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  Smiley.

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.

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Morphy
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Re: gg
Reply #11 - Jan 28th, 2021 at 1:15pm
 
wanderer wrote on Jan 28th, 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† Smiley.

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 wonít 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 wonít have a problem doing it.
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"I think this guy is the king of trolls of the forum, he waited 16 years just to say this. please pay your respects in an orderly fashion."-Sarosh
 
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