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u/DeepFuckingValue and the GameStop Reddit mania

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Re: u/DeepFuckingValue and the GameStop Reddit mania

#261

Post by jMyles »

eMGm4D0zgUAVXc7 wrote: post #135
jMyles wrote: post #103

Earlier quoted context omitted.

Are speculators making money on ipfs? How? This is news to me.

The IPFS website at the bottom left contains a section "Protocol labs", the "About" link of that links to https://protocol.ai/ which says "We're decentralizing storage with Filecoin". So their end goal might be making money off that cryptocurrency... Thanks to the GP for causin me to figure out why the wheel is being re-invented here! :) :|

...yes, of course I'm familiar with Filecoin. If that is the explanation for how speculation prompts use of IPFS over Freenet (both of which I adore), then there is no explanation.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#262

Post by smcl »

PartiallyTyped wrote: post #148
Dirlewanger wrote: post #14

This is one of the very, very few positive stories about how powerful the Internet can be to the masses. Keith is no different from Jim Kramer yelling on CNBC to buy some stock and watching it spike because their boomer audience raced to their landline phones and told their financial advisors to invest. It's just at a much faster pace, and old media is scared shitless of it, so they endlessly denigrate the people inv…

Unlike Cramer, he provided DD and was transparent on his positions.

I keep seeing “DD” and I’m finally going to ask: what does this stand for.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#263

Post by r00fus »

tootie wrote: post #86
yreg wrote: post #35

Earlier quoted context omitted.

Well if a stock market crash triggered by this is realistic (which I agree is), doesn't it make sense to hold a bit of GME for insurance? I understand that there's no guarantee one will be able to exit it successfully even if it flies so high that it crashes the market. However I don't see a better insurance for people who don't have access to options/inverse etfs and don't want to sell their stocks.

GME is absolutely going to crash and everyone knows it. There was a mod post just today reminding everyone to be ready. The stock is worth $10-20 on it's merits and that's where it will land. We just don't know when. The chance of this as a contagion that brings down indexes seems very unlikely.

GME is worth what a few dozen billion at its current valuation? How would that impact SPX, DJIA, etc.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#264

Post by 015a »

lifeformed wrote: post #207
015a wrote: post #158

Earlier quoted context omitted.

Right. My biggest concern with these plays, at this point, is that they're not taking into account the possibility of bankruptcy. There's a ton of "they have to buy it, if we hold all the shares then it'll go to the moon, 1k, 2k, 4k". (1) The sheer variety of financial vehicles available to professional investors is staggering, and while the initial DD was really good, we probably missed something at this point, and…

I thought bankruptcy would still mean the brokers are on the line for the money?

In the case of shorting a stock, the broker is owed shares of the stock by the firm who shorted it. The broker is absolutely still "on the line for it". Its a red line in their books. But in this situation, there's no one going out into the markets to buy a share to repay the broker.

The remaining assets the firm has would be liquidated, those would be used to pay off debts, including those owed to the brokerage. I'm not 100% sure how this works, like, if the estate would purchase as many shares owed as possible, or if they would settle in cash with the brokerage, or what. But, regardless, that wouldn't happen until long after the epicenter of this black swan event.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#265

Post by geofft »

asenna wrote: post #236
eMGm4D0zgUAVXc7 wrote: post #135

Earlier quoted context omitted.

The IPFS website at the bottom left contains a section "Protocol labs", the "About" link of that links to https://protocol.ai/ which says "We're decentralizing storage with Filecoin". So their end goal might be making money off that cryptocurrency... Thanks to the GP for causin me to figure out why the wheel is being re-invented here! :) :|

Why is adding an incentive mechanism to "pinning" files on IPFS inherently wrong? If you find the right incentives to a tech problem, that pushes the tech forward right? Like Satoshi Nakomoto putting together the right type of incentive to be able to create an almost unhackable network in Bitcoin (along with Ethereum and others). I'm not yet saying that Protocol Labs will ultimately find the success they're looking f…

I don't think the claim is that it's wrong, I think it's just trying to answer "Why do people constantly have to re-invent the wheel? :(".

"X but we monetized it" (which includes "X but we got VCs to pay us") is an extremely common reason to reinvent X.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#266

Post by eMGm4D0zgUAVXc7 »

canofbars wrote: post #258
eMGm4D0zgUAVXc7 wrote: post #24

Earlier quoted context omitted.

Why do people constantly have to re-invent the wheel? :( Freenet [0] has been providing censorship-resistant, anonymous, decentralized hosting for 20 years - and is still in active development! You could upload it to Freenet without any server whatsoever and it would stay online for as long as it is popular, even if your machine goes offline. And you'd be anonymous while doing so! [0] https://en.wikipedia.org/wiki/Fr…

IPFS has the benefit that anyone can pin the content and then even the original author can not take it down.

The same applies to Freenet:

- Anyone can use the "KeepAlive" [0] plugin to pin content.

- Nobody can take down any content, not even the original author [1].

Censorship-resistance is a central design goal of Freenet.

[0] https://github.com/freenet/plugin-KeepAlive [1] https://freenetproject.org/pages/help.html

Re: u/DeepFuckingValue and the GameStop Reddit mania

#267

Post by tinyhouse »

PartiallyTyped wrote: post #174
tinyhouse wrote: post #153

Earlier quoted context omitted.

Here's a quote from your guy DFV: "Well as a longer-term investor I have the benefit of heavily discounting daily moves. I care much more about the longer-term charts, and these have been fairly constructive for months now. Even today, after the typical quarterly sell-off, the longer-term chart still looks decent so there’s been nothing to panic over. Let’s see what the price does over the next few weeks. Of course c…

Simply saying 'fundamentals' allows one to nullify things they don't understand, like owning the rights to one of the biggest duopolies (x86 that without one becomes a monopoly). The issue with tech, much like math, is that it often takes a while to figure out all the potential, case in point GPGPUs and Deep Learning revolution. The tech, the ideas, the internal code/models, the people (Jim Keller in AMD, and TSLA) a…

I don't argue with that. It's called growth opportunities. But don't you think that a business losing customers quarter after quarter is a bad sign? Or that having a debt bigger than it can afford? etc. Let me say this, you cannot ignore the fundamentals until you can... (e.g., GME)

Re: u/DeepFuckingValue and the GameStop Reddit mania

#268

Post by xmprt »

nursur2011 wrote: post #213
015a wrote: post #158

Earlier quoted context omitted.

Right. My biggest concern with these plays, at this point, is that they're not taking into account the possibility of bankruptcy. There's a ton of "they have to buy it, if we hold all the shares then it'll go to the moon, 1k, 2k, 4k". (1) The sheer variety of financial vehicles available to professional investors is staggering, and while the initial DD was really good, we probably missed something at this point, and…

>I think these realizations are why much of the r/WSB discourse over the past two days has shifted from "we're going to be millionaires" to "i'm just in it at this point to stick it to the man". I think that's more the activist crowd that has joined over the past week. I have a hard time believing the original r/WSB people care more about making a political statement instead of money.

I know quite a few people who still think there's money to be made by getting in at $300+

I don't know if they're right or wrong, but the fact remains there are people who are getting in to both make money as well as stick it to the man.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#269

Post by collinvandyck76 »

runarberg wrote: post #186
kinghajj wrote: post #173

Earlier quoted context omitted.

The stock market--just like the economy--is not a zero-sum game. I don't know what to tell you. The S&P500 over the long term has consistently performed quite well, for many decades. Maybe if your picture of participating in the stock market involves day trading, sure, statistically the majority of people who try will break even or come out with a loss. But that's not what financial advisers recommend average people…

Thank you, but I prefer a savings account at my local credit union. I’m sure the interests will amount to something similar as what some random hedgefund manager can conjure by gaming the market. If not, then I can live with it, knowing that what little interest I earned, at least it wasn’t earned by taking profits out of other workers. And in the best case scenario my savings got lent out to other members of my cred…

With all due respect, savings accounts can barely keep up with inflation, if at all. The last couple of years it was not uncommon to have 15%+ gains with a diversified portfolio.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#270

Post by ManofPeace »

ggggtez wrote: post #167
jstanley wrote: post #100

Earlier quoted context omitted.

It's more likely that he thought he was nowhere near influential enough to create one on his own. He would previously have had no reason to believe that his public statements would move the market.

That's exactly what I mean. Even if he thought he had some power, or acted as if he did, it's in his best interest to downplay that as much as possible. This guy was a well known poster. I'm sure he thought he had some power to motivate wsb users to invest, but he might not have predicted he had enough power such that he would get embroiled in an investigation. Regardless of how "internet-tuff-guy" people are, most p…

While the narrative has made him the poster boy, you can look at the past discussions regarding GME. His initial posts around a value play were widely ridiculed.

The short squeeze thesis(s) were made by other reddit users. Even those weren't particularly popular until around 1/13-1/15 when GME saw an unexpected pop. It was around then people were like "oh this squeeze thing might happen. we could test it"

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