I have no doubt the timing was extremely intentional.
The thought crossed my mind too, but if so then why?
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Discord bans r/WallStreetBets server, subreddit went private for a while
71–80 of 1001 posts
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#72>“hateful and discriminatory content after repeated warnings.” banned for posting memes like https://twitter.com/NorthmanTrader/status/135439073542503628...
Are they not familiar with the euphemism treadmill? http://www.cambridgeblog.org/2020/08/ableist-language-and-th...
People saying "retard" isn't the real reason, they're just using it as an excuse. Powerful Wall Street types who gambled against them are losing money because of the hype train they've ignited and are crying to regulators. The discussion of coordination in the chat may be considered illegal and Discord doesn't want negative attention from regulators and the press.
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#73Earlier quoted context omitted.
They've officially ticked off rich and well-connected people, so regulators are coming to shake the tree branch (I have no idea whether what they're doing is illegal or not) and the platforms want to distance themselves from that ASAP.
Incredibly naive to think that WSB itself isn't filled with rich and well-connected people. In its early days, WSB was almost entirely a bunch of rich wall street traders with extra tens/hundreds of thousands to spare on crazy bets. Nowadays, it's one of the largest subreddits on one of the largest websites in the world. WSB isn't some niche gathering of "average joes" - all of the major wall street firms monitor it,…
I’m convinced that this is just a “win the battle, lose the war” moment. I can imagine well funded financial institutions doing whatever they can to make sure this doesn’t happen again and if they can, punishing those who took part.
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#74This is that scene in all the casino movies where the person who found a system to win gets taken into the office by security and given a stern warning/beatdown.
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#75For pointers to other active and/or recent vertices of this story graph, see https://news.ycombinator.com/item?id=25933543.
As for this thread, it's got 500+ comments. If you want to see them all you'll need to click through the More links at the bottom, or like this:
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#76I think it is complete crap that companies using legal platform protections can ban people by arbitrarily declaring speech they don't like as hate speech. There should be legal requirements that any companies which enjoy platform protections must prove in a court of law that speech can accurately be classified as hateful before banning anyone.
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Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#77Earlier quoted context omitted.
They've officially ticked off rich and well-connected people, so regulators are coming to shake the tree branch (I have no idea whether what they're doing is illegal or not) and the platforms want to distance themselves from that ASAP.
I don't think anybody has ever suffered negative regulatory action for doing a short squeeze. Even Martin Shkreli didn't get in trouble for his.
Acting alone it’s not inherently illegal. Real question is whether pooling your strength (ie assets) with others to force a squeeze is illegal collusion and market manipulation.
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#78For those of us not in the know, what is so special about today regarding WSB? I know there's a feud with short sellers going on, but I haven't been following the details.
Someone went from 50k to 50M by igniting a short squeeze. All eyes were on the WSB subreddit, and discord server. Now both are private or offline. No one has any chance to coordinate now. Discord’s action is effectively market manipulation in a literal sense, because this is certainly going to affect the market. I’m curious why the sub went private though. EDIT: I regret my phrasing. I didn’t mean this was illegal ma…
Market manipulation is not anything that "affects the market." That definition would cover pretty much any and all behavior. In this case Discord is not trading securities, is not telling any one else to trade securities, has nothing at all to do with securities.
If I run an email service and find that a user is running a pump-and-dump scam through it, do you really think I shouldn't be able to shut down their account?
(If you're interested in the actual law on market manipulation, it's here: https://www.law.cornell.edu/uscode/text/15/78i)
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#79For those of us not in the know, what is so special about today regarding WSB? I know there's a feud with short sellers going on, but I haven't been following the details.
They've officially ticked off rich and well-connected people, so regulators are coming to shake the tree branch (I have no idea whether what they're doing is illegal or not) and the platforms want to distance themselves from that ASAP.
I made another comment, people are really letting logic fail them in order to push a narrative.
The server was vile. Moderation used racial slurs casually.
Suddenly thousands of new people are flooding into the server from WSB on Reddit where the standard is obviously higher than that.
What do you think happens to report numbers? They skyrocket with user count!
Suddenly all eyes are on a truly vile corner of Discord of course they're going to ban them!
Re: Discord bans r/WallStreetBets server, subreddit went private for a while
#80Earlier quoted context omitted.
And leave no way for common people to organize against the status quo. The establishment sure would love that. Why are you on HN then in the first place?
My history class must have skipped over the part where the american revolution was organized on twitter and facebook.
yea, I missed the part where Lee's defeat at Gettysburg was instagrammed and Grant's victory at Vicksburg was on TikTok