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Discord bans r/WallStreetBets server, subreddit went private for a while

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Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#411

Earlier quoted context omitted.

Parler was explicitly unmoderated by choice and hate speech was its selling point. You’ll have a hard time finding a) a service provider willing to tolerate that and b) much public sympathy for the service promoting hate. Yet it called into question freedom of speech. Same thing today with WSB, but the focus is clearly not hate speech (even if Discord says so). I find today’s bans way more objectionable than Parler,…

And if you intentionally want to have content that is objectionable, putting it on AWS seems like an awful idea. That's how Sci-Hub and TPB have managed to stick around for decades, and they've shown censorship on the internet isn't really a thing. God knows how many powerful forces have tried to censor them, to no avail. While I agree that in some ways this is worse than the Parler case, it also is a free service th…

The Discord server in question claims "we got over 1,000 server boosts" [0]. That's Discord's monetization scheme, a sort of server-specific patreon subscription that users opt into, to collectively unlock features for that server specifically.

Judging by the going rate for "server boosts", Discord would have easily had $5,000 a month in revenue tied to that server [1].

[0] https://www.reddit.com/r/wallstreetbets/comments/l6j4r9/wher...

[1] https://support.discord.com/hc/en-us/articles/360028038352-S...

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#412

Earlier quoted context omitted.

That’s the joke. The SEC pursues the mostly harmless while letting the sharks go free. Did they do anything about naked short selling of Overstock stock? Nope, and now that it’s happened again and retail took advantage of a bad trade, the rules suddenly change “to protect the little guy.” It’s disingenuous at a minimum, and crony capitalism when taken to the maximum. Are they doing anything about Nancy Pelosi (her hu…

> Nothing against Pelosi Nothing against Pelosi? If that's as it appears to me (trading on insider information, by a person in a position of public trust no less) she needs to be heavily fined, in prison, or both.

Congress is famous for being extremely lucky in their trades. Somehow their timing is way better than for common plebes, there's much research around about it. But of course laws are for the little people, including insider trading laws, so...

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#413

Earlier quoted context omitted.

“ a lot of users are going to be upset and will suddenly start to realize that a single company has a monopoly on their online social life” I agree with you, but I lament that outside of Facebook, Twitter, Instagram, and Reddit, it’s been very hard for any social media company to gain traction.

It doesn't help that one of the most recent ones to try was deplatformed as it was gaining many new users.

No, it's because they became a legal risk as they were the primary host of insurrectionists who broke into the Capitol while chanting "Hang Mike Pence!".

Also, private business can do whatever they want. 1st amendment only applies to government not private business.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#414
I'd ban them too. Not worth my company being dumped by their cloud provider or the app being banned because they ruffled the wrong feathers.

The parlor lesson has been learned. I won't stick my neck out for principle when it ends up bankrupting my company and having the masses hate me.

Not worth it.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#415
post #133

Earlier quoted context omitted.

See, the problem is that people are doing all this because they believe that it doesn’t matter. These are not idealists or indoctrinated revolutionaries. No one is going to do anything if it’s not going to bring lulz or cash quickly because nothing matters anyway. All the anti establishment movement is nihilistic in its core. These are not Eastern European kids who dream to finish school and go to Western Europe and…

The worst, or maybe the best, part of your post is that you don't realize the American youth from the 60s literally created this generation with their greed and entitlement.

The counter culture was a minority. Recognizing that is crucial to understanding the current climate.

It just so happens the creative output from those aligned with that culture has dominated more recent generations(Sesame street, Free Willy, Fern Gully, all that). In a sense "they won". But those not on-board are still around, and there is a lot of resentment.

I'm only 36 and while I was raised on this stuff but even so a LOT has changed and "progressed" from when I was a kid. Can you imagine how much has changed for those who lived through the civil rights movement?

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#416

Earlier quoted context omitted.

Risk of SEC involvement. This admin is probably nowhere near as lenient on this kind of stuff as the last was, and the recent nonsense with GameStop is probably bad enough to attract negative regulatory attention.

This admin's official response to the GameStop situation was literally "Our Treasury Secretary is a woman!" https://twitter.com/Quicktake/status/1354496816738422789

The response should have been "What situation? And why you expect the government to handle it - can't you wipe your own bottom without the government help?" But of course these times have passed - now the federal government should be everybody's nanny and hall monitor.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#417

Remember: Parler tried “making their own X”. They were taken offline by a concerted effort at every level, despite the fact that a large portion of the capitol protests were organized on Facebook and YouTube. Anyone who’s ever been an activist for long enough knows that the censorship that silenced your enemies will eventually silence you. Corporate policing of speech needs to stop.

The revolution always devours its children. One of my favorite aphorisms is:

>Don't put your faith in revolutions. They always come around again. That's why they're called revolutions.

What happened to Georges Danton, the thunderous voice of the early French Revolution? How about Toussaint L'ouverture, avenger of the New World? Even Simon Bolivar and Manuela Saenz left behind a fractious group of nation-states.

The US is kind of an aberration in that regard, but even Ben Franklin cautioned that "the tree of liberty must be refreshed from time to time with the blood of patriots and tyrants."

The funny thing is, if you extend that metaphor to big tech companies like FAANGs, then they would be the early revolutionaries who are about to get devoured. And that metaphor would fall apart quickly, because those companies have never professed to be revolutionary harbingers of a new and improved world.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#418

Earlier quoted context omitted.

That’s the joke. The SEC pursues the mostly harmless while letting the sharks go free. Did they do anything about naked short selling of Overstock stock? Nope, and now that it’s happened again and retail took advantage of a bad trade, the rules suddenly change “to protect the little guy.” It’s disingenuous at a minimum, and crony capitalism when taken to the maximum. Are they doing anything about Nancy Pelosi (her hu…

Disgusting but not surprising take from the Nasdaq CEO. A few managers with access to billions are able to coordinate their funds because they own them all, but a diverse mob of retail investors couldn't do this up until now because they're all subject to game-theoretic prisoner's dilemma forces. It's only because so many people are rallying around the ideological worth of the stock that keeps the price from crashing…

I'm not sure the decline will be gradual. Also, prices unsupported by the actual company's fundamentals will now absolutely bring in more shorts, perhaps even the same people that got squeezed on the way up, recouping their losses and maybe profiting at the expense of retailers that wait too long.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#419
post #17

I have no doubt the timing was extremely intentional.

The timing was more or less "hey this pump and dump scam on our platform is getting a bunch of negative attention." People seem to think they were paid off by some big players. Ha! In their dreams.

A short squeeze is different from a pump and dump. For one thing it's legal.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#420
post #14

And they chose today as the best possible time to enact this ban? Really? I really think they should have put more thought into the timing of this decision; a lot of users are going to be upset and will suddenly start to realize that a single company has a monopoly on their online social life (this may seem like an exaggeration, but it feels quite true to me colloquially, especially if you're a younger US male and/or…

Don't kid yourself. It was intentional. We should all be getting really worried about these platforms.

You feel that cold breeze? The future is coming and it's chilly.

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