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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

#831

Post by jariel »

NotPavlovsDog wrote: post #669

This is really exciting, feels like open standards, independent internet is going to continue getting extreme motivation to expand and establish, with private "freedom of speech" censorship by for-profit platforms. We're going to see more fragmentation, and growth of closed platforms perceived by users as "slightly less evil" such as telegram vs watsapp. This may also motivate the return to truly open internet ideals…

This is about as exciting as a mob of 10000 people rushing a restaurant at the same time to 'save it' and then forgetting it the next day.

Unfortunately, there is no more new math here.

Even worse, it looks like stocks may become unduly hyper volatile due to such things and none of the people in the underlying economy actually want that, it's a huge headache and risk for them.

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

#832

Post by bko »

jug wrote: post #777

It does feel like a watershed moment regarding hedge funds. This is the first time netizens capitalize on hedge fund short favorites and it has been surprisingly easy to cause an absolute catastrophy in the order of billion losses for them. I heard Melvin Capital may even have gone bankrupt? And how to do it? You get people to invest in a stock that is expected by the industry to go belly up. Seriously. It's that eas…

> And how to do it? You get people to invest in a stock that is expected by the industry to go belly up.

A lot of the people involved aren't just buying and holding. They're specifically buying/selling short dated out of the money options in order to move the price. Some understand the market microstructure and the various levers they have to make the price move using what is effectively leverage.

> Seriously. It's that easy. It's not illegal.

Finance is highly regulated and arbitrarily so. If you think the lawmakers and regulators will throw their hands up and say geez, it's technically legal, carry on, you're sorely mistaken.

Ideally finance is meant to be about allocation of capital. If a market is allocating capital to a dying company just because meme, then the market isn't serving its purpose. I don't see how this is different than what is constantly being criticized such as flash crashes, contagion and large moves based on rumors, other than the group benefiting (fiscally irresponsible internet strangers vs fiscally irresponsible professionals)

I know, hedge funds bad, and they do this crap all the time. That may be true, but this isn't going to end well for the average consumer. My prediction is reddit will shutdown wsb because that's what reddit does. And there will be more laws made targeting individuals engaging in this sort of activity (basically coordinating with groups of people). This may hurt newsletters and other financial venues. The large hedge funds will be fine, we might see a few bailouts, and life will go on.

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

#833

Post by canofbars »

dmurray wrote: post #276
Blikkentrekker wrote: post #258

Earlier quoted context omitted.

4chan hosts it's own server: — how could it? Cloudflare did drop 8chan for political pressure. Both also have a very undeserved reputation. I saw news reports on 8chan as if it were something similar to Stormfront . The front page was mostly video game and pornography and one had to search very deep into it's hidden circles to find racial supremacy content.

> 4chan hosts it's own server: — how could it? ISPs could just drop their customers' traffic to that server. This happens all the time and has happened to 4chan before. Or they could go further and refuse to peer with any ISP that doesn't block 4chan, or lobby to have the government compel ISPs to block it, likely on think-of-the-children or think-of-the-terrorism grounds. Self hosting definitely isn't some magic way…

My mobile internet provider actually did this for about a year after the New Zeeland shooting. Was quite annoying and I considered switching to another company because I quite enjoyed shitposting about bicycles on /t/

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

#834

Post by polynomial »

SamBam wrote: post #426
Rapzid wrote: post #415

Earlier quoted context omitted.

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.

3 examples of Hippie philosophy packaged as morality stories for children. Not sure offhand what the next items in the series would be.

JTA: I don't mean to use a potentially prejudicial term here, and not clear on the distinction between "hippies" and "60s counterculture" myself.

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

#835

Post by PartiallyTyped »

twic wrote: post #819
cik wrote: post #761

There is some brilliant analysis on WSB, some rubbish - the usual. But there was great analysis on this post a few hours ago: https://old.reddit.com/r/wallstreetbets/comments/l6n4ay/the_... Assuming it (like others) gets taken down, here's a copy+paste with some cleanup: Note that Discord has had significant investment from private equity funds including FirstMark Capital, Greenoaks Capital Partners, Index Ventures,…

Is this great analysis, or is this random paranoia?

Is there a correlation between en masse smear campaigns, bot attacks against retail, and the uber rich losing money?

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

#836

Post by ClumsyPilot »

twic wrote: post #818
jug wrote: post #777

It does feel like a watershed moment regarding hedge funds. This is the first time netizens capitalize on hedge fund short favorites and it has been surprisingly easy to cause an absolute catastrophy in the order of billion losses for them. I heard Melvin Capital may even have gone bankrupt? And how to do it? You get people to invest in a stock that is expected by the industry to go belly up. Seriously. It's that eas…

> It does feel like a watershed moment regarding hedge funds Let's wait six months. This story is being badly reported all over. I suspect the hedge funds will mostly be fine. >You get people to invest in a stock that is expected by the industry to go belly up. Seriously. It's that easy. It's not illegal. Yes, it is, it's an abusive short squeeze, which is market manipulation.

If anything is market manipulation, its shorting over 100% of a company to push down it's share price even lower and destroy the company

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

#837

Post by canofbars »

CivBase wrote: post #367
liquidify wrote: post #65

I 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.

They didn't even ban the people. They literally banned the server because individuals used inappropriate language on the server. That makes absolutely no sense.

Its the job of the mods to ensure that the users of their group follow the rules.

This situation seems bullshit but in general I think its quite logical to ban "servers" if the mods do not uphold the rules.

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

#838

Post by staticelf »

jsilence wrote: post #727
staticelf wrote: post #719

Earlier quoted context omitted.

It would only be a fair parable if your coffee shop was the only coffeshop in the entire city or that it exists like 1-3 others but you all talk with eachother on the phone and collectively agree to deny those people service.

They are free to run their own Matrix, Mattermost, Rocketchat, IRC, whatever node...

Except when people do create their own shit, like Parler, it immedietly gets shut down as soon as it gets popular.

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

#839

Post by mrtksn »

rorykoehler wrote: post #765
mrtksn wrote: post #580

Earlier quoted context omitted.

I am not arguing that the establishment are the goodies, just that the anti establishment don't do it for higher ideals.

They do. This is a way to fight back and make money. Who wouldn't take that opportunity. I highly recommend this open (motivational) letter on WSB https://www.reddit.com/r/wallstreetbets/comments/l6omry/an_o...

It's a moving letter, I've read it and I actually agree with the statement but having a personal vendetta isn't exactly an ideal.

Nevertheless, it doesn't really matter if they are idealists or not if it eventually pushes for a change. Woodstock was a for-profit music festival that turned into a cultural icon. As someone else in the comments said, probably Rosa Parks never meant to start a revolution.

When I say they are nihilistic, I don't mean it as an offence. I do agree that "it doesn't matter", the market is not working as a place to invest into promising companies, it's simply a gambling with extra steps and I enjoy watching many classical gamblers being destroyed. I also don't trade any stocks, I don't own any publicly traded stocks.

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

#840

Post by toopok4k3 »

twic wrote: post #819
cik wrote: post #761

There is some brilliant analysis on WSB, some rubbish - the usual. But there was great analysis on this post a few hours ago: https://old.reddit.com/r/wallstreetbets/comments/l6n4ay/the_... Assuming it (like others) gets taken down, here's a copy+paste with some cleanup: Note that Discord has had significant investment from private equity funds including FirstMark Capital, Greenoaks Capital Partners, Index Ventures,…

Is this great analysis, or is this random paranoia?

We are talking about billions of losses. Someone somewhere is trying to minimize them as their full time jobs.
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