FWIW the subreddit did not go private. It was temporarily turned off because the load was affecting Reddit as a whole. It lasted less than 30 minutes.
Discord bans r/WallStreetBets server, subreddit went private for a while
421–430 of 1001 posts
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#422Earlier quoted context omitted.
There wouldn't be anything wrong with that. There'd be a lot right with it, honestly - I would be trumpeting it as a clear victory of the little guy over snobby funds who don't think anyone else can understand finance. But what's happening right now is almost certainly a pump and dump with a short squeeze as a facade. I've seen a lot of commenters who seem to be grievously misled about the actual mechanics of a short…
I haven't heard anything to suggest that the short sellers are forced to buy back the stock either. This is a stock has clearly caught public's attention, Once the hype cycle is over, why wouldn't it regress to the mean? Who's going to believe that the stock stays at this level over the long term? Fun to talk about though. This is a very entertaining story.
If a short position goes hard against you the brokerage will make you to put up more collateral (money) and if you can't, then your only other option is to buy back some of your position, so yeah, short sellers can be forced to buy back stock.
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#423Earlier quoted context omitted.
I joined and had an extremely negative experience immediately, left, and reported it. This was months ago. Imagine suddenly thousands of people are doing this and now Discord is being flooded with reports. - Something some people might not know as well, there was another WSB Discord started by Jartek that used to be linked on the subreddit That Discord was much more tame even with minimal moderation. No racial or hom…
What sort of asshole joins a community as a tourist, and then reports THEM?! That's for people disrupting a community's conversation...you can just leave.
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Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#424Earlier quoted context omitted.
The thought crossed my mind too, but if so then why?
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.
What exactly is the SEC going to do? Subpoena Reddit and Discord for the IP address of "stocktrader420" who posted about buying 10 shares of $GME?
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#425And 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…
It's been reported the mods temporarily killed the subreddit; it was part of the plan.
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#426Earlier quoted context omitted.
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 eve…
> Sesame street, Free Willy, Fern Gully
Off-topic, I know, but I'm trying to understand how you picked these three things as the epitome of culture produced by the counter-culture.
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#427Earlier quoted context omitted.
You are certainly right for many participating in this short squeeze. But collectively this short squeeze is undeniable proof that what's good for the goose is not good for the gander. The hedge funds play by a separate set of rules from the rest of us.
Does it prove that? I tend to agree that it's true, but I don't see what it has to do with the current situation. If anything, I expect most people to argue the opposite - when the price drops again, and some retail traders lose their shirts, there will inevitably be a flood of thinkpieces about how cruel the financial system is for permitting them to lose money on the same terms as a hedge fund.
I think it proves it in the sense that hedge fund do this kind of stuff all the time and no one ever hears about it, because those kinds of money-making strategies are what we expect of them.
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#428u got some nice racism going on here https://news.ycombinator.com/item?id=25936932
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#429Earlier 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 think a few hedge fund managers might be about to learn about Schelling points in a very visceral way.
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#430Earlier quoted context omitted.
Discord, a monopoly?
When you're able to play a video game and have a large amount of users agree to use anything besides Discord, then I'll grant this objection. Until then, I'll refer to it as a monopoly (not over all communication of course, just within its own niche).
Depends on the game. I've found communities whose preferred method of communication is Facebook Messenger!