/r/WallStreetBets raids hedge funds with stock meme?

[SnakeBoy]

Yellen Gets Ethics Waiver to Lead Meeting on GameStop Insanity After Taking $810K From Citadel

https://wearechange.org/wp-content/uploads/2021/02/yellen-speaking-fees-3_0.jpg

[Winehole23]

but, advanced operators on both sides

1357333559392890883 (https://twitter.com/ddayen/status/1357333559392890883?s=20)

[Trainwreck2100]

but, advanced operators on both sides

1357333559392890883 (https://twitter.com/ddayen/status/1357333559392890883?s=20)

Thay guy got booted from wsbs like 2 years ago

[hater]

Yellen Gets Ethics Waiver to Lead Meeting on GameStop Insanity After Taking $810K From Citadel

https://wearechange.org/wp-content/uploads/2021/02/yellen-speaking-fees-3_0.jpg

Shes like 80 years old

She barely knows what day of the week it is tbqh

[SnakeBoy]

WSB idiots still saying hold the line :lol

https://i.redd.it/h7sap8vb5qe61.jpg

[Will Hunting]

:lol god I’m such a pussy, should have bought April 21 puts instead of Jan 22 puts. Would have been able to buy like twice as much for the same money and they’d have more than enough time.

[spurraider21]

:lmao these people sound like qtards

https://www.reddit.com/r/wallstreetbets/comments/lckn1p/all_the_people_who_bought_at_300_and_are_still/

[baseline bum]

:lmao these people sound like qtards

https://www.reddit.com/r/wallstreetbets/comments/lckn1p/all_the_people_who_bought_at_300_and_are_still/

Well they do admit they're retards :lol

[lefty20]

:lmao these people sound like qtards

https://www.reddit.com/r/wallstreetbets/comments/lckn1p/all_the_people_who_bought_at_300_and_are_still/

I do feel for those guys. Especially those who fomo'd their entire portfolios into the hype train.

But I repurchased at 103 and I'm not selling. Worst case, it turns out to be a long hold but I can be patient and it's literally money that I got from the stock itself.

[spurraider21]

I do feel for those guys. Especially those who fomo'd their entire portfolios into the hype train.

But I repurchased at 103 and I'm not selling. Worst case, it turns out to be a long hold but I can be patient and it's literally money that I got from the stock itself.
i feel bad that they got conned by the "take on the billionaires" bullshit they were being fed... but thats also on them for not having the right about of skepticism

[spurraider21]

1354874931092348933
went back to look into this, because this claim always stuck out as the one actual allegation of legitimate wrongdoing... but turns out the reporter just had bad info. blames the "confusing web" of robinhood policies

1354921570213441547

[boutons_deux]

As GameStop stock crumbles, newbie traders reckon with heavy losses

The Reddit forum that helped kick off the frenzy has given way to anxiety, financial bloodshed and infighting

the online horde that had raced to invest in the “meme stock” scrambled to reckon with the financial bloodshed,

wavering between a desire to sell and settle for heavy losses or

stick with their online peers who had admonished them to “hold the line.”

But others expressed deep turmoil, posting screenshots from their online banks and brokerages to the forum that, in some cases, showed

hundreds of thousands of dollars vanishing in a matter of hours.

https://www.washingtonpost.com/technology/2021/02/02/gamestop-stock-plunge-losers

[monosylab1k]

As GameStop stock crumbles, newbie traders reckon with heavy losses

The Reddit forum that helped kick off the frenzy has given way to anxiety, financial bloodshed and infighting

the online horde that had raced to invest in the “meme stock” scrambled to reckon with the financial bloodshed,

wavering between a desire to sell and settle for heavy losses or

stick with their online peers who had admonished them to “hold the line.”

But others expressed deep turmoil, posting screenshots from their online banks and brokerages to the forum that, in some cases, showed

hundreds of thousands of dollars vanishing in a matter of hours.

https://www.washingtonpost.com/technology/2021/02/02/gamestop-stock-plunge-losers

The hedge funds are still thriving, Wall St is richer than ever, and the little guys are taking it up the pooper while putting a shotgun in their mouths. It was never going to end any other way.

[Will Hunting]

The hedge funds are still thriving, Wall St is richer than ever, and the little guys are taking it up the pooper while putting a shotgun in their mouths. It was never going to end any other way.
The little guys decided to pay 10x more for a stock than it was worth. That’s not on Wall Street/hedge funds, it’s a case of play stupid games, win stupid prizes.

[Adam Lambert]

Pawns in a battle between billionaires.

[spurraider21]

The little guys decided to pay 10x more for a stock than it was worth. That’s not on Wall Street/hedge funds, it’s a case of play stupid games, win stupid prizes.
the entire media frenzy in those first couple of days was irresponsible

[spurraider21]

:lol

https://i.redd.it/e4nduvr1wif61.jpg

[boutons_deux]

Made a killing in GameStop?

Now comes the tax bomb

POINTS



GameStop’s stock price grew more than 1,700% since the start of the year through Wednesday’s close, to almost $348 a share.
The federal government and most states tax investment returns.
The wealthiest Americans may forfeit almost a quarter of their earnings to federal capital gains taxes, and more than 40% in some cases. Some low earners may pay nothing at all.


For example, the wealthiest Americans pay a 23.8% top tax rate on these stock returns (a 20% capital gains tax plus a 3.8% Medicare surtax (https://www.irs.gov/newsroom/questions-and-answers-on-the-net-investment-income-tax) on investment income). However, they pay (https://taxfoundation.org/2021-tax-brackets/#brackets) a 37% top rate on wages.

Low and middle earners may pay a smaller share — 15% or possibly nothing at all, depending on their annual taxable income.

the bite would be larger for those who sell stock after just a brief ownership.

They would pay short-term capital gains rates, which apply for investors who sell a stock after a year or less.

They are the same as one’s personal income tax rates.

Uncle Sam would take 40.8% of the wealthiest investors’ GameStop earnings in this case, instead of 23.8%.

(This includes a 37% top income tax rate and a 3.8% Medicare surtax.)

Most states tax (https://www.cbpp.org/research/state-budget-and-tax/state-taxes-on-capital-gains) capital gains as ordinary income — meaning long-term investors don’t get a favorable tax rate.

https://www.cnbc.com/2021/01/28/made-a-killing-in-gamestop-now-comes-the-tax-bomb.html

[SnakeBoy]

https://shortsqueeze.army/

[baseline bum]

https://shortsqueeze.army/

Bend over. I'll give you a short squeeze.

[Trainwreck2100]

Bend over. I'll give you a short squeeze.

nice self ownage there

[SnakeBoy]

Looks like they're trying the pump part deux

[lefty20]

Looks like they're trying the pump part deux

Hopefully the proper squeeze this time. I'm ready for some tendies.

[American Citizen]

:lol Soy boys talking like this play was about the money.

[Spurtacular]

I do feel for those guys. Especially those who fomo'd their entire portfolios into the hype train.

But I repurchased at 103 and I'm not selling. Worst case, it turns out to be a long hold but I can be patient and it's literally money that I got from the stock itself.

A long hold that you get a nickel or worse on the dollar is worst case, tbh.

[Spurtacular]

start from 18:00 for the meat and potatoes


https://www.youtube.com/watch?v=9vd3iZDN_OI

Reketia Law on Youtube shat on this hack (so badly).

[Spurtacular]

I do feel for those guys. Especially those who fomo'd their entire portfolios into the hype train.

But I repurchased at 103 and I'm not selling. Worst case, it turns out to be a long hold but I can be patient and it's literally money that I got from the stock itself.

This sh** is impossible to predict. But I'd sell and re-buy at 55.

[Trill Clinton]

GME looking good again. Damn I wish I would have bought some when the fuckery started.

[spurraider21]

Reketia Law on Youtube shat on this hack (so badly).
no clue who that is. what were his thoughts on the kraken, #pencecard, et al

[Winehole23]

:lol Soy boys talking like this play was about the money.what's it all about, derp?

[Spurtacular]

what's it all about, derp?
ChumpDumper

[Spurtacular]

no clue who that is. what were his thoughts on the kraken, #pencecard, et al

You should watch and find out.

[ElNono]

no clue who that is. what were his thoughts on the kraken, #pencecard, et al

:lol exactly what you think... Courts all over the country including the SCOTUS shat on Reketia Law (so badly)

[lefty20]

This sh** is impossible to predict. But I'd sell and re-buy at 55.

Nah. I kept buying the dips and got my avg down to 78. Gonna hold it at least until 300 again. Might get greedy and go for 500. It all depends on what keeps happening AH tonight and pre-market 2morrow.

[ElNono]

You should watch and find out.

You shouldn't bother. Take a cursory look at their twitter account. When you're quoting dissenting opinions from Uncle Thomas, that's all you really need to know :lol

[Spurtacular]

Nah. I kept buying the dips and got my avg down to 78. Gonna hold it at least until 300 again.

Hope you know how wash sales work.

[Spurtacular]

Might get greedy and go for 500. It all depends on what keeps happening AH tonight and pre-market 2morrow.

I can see it hitting $1600. Not saying it will though. At some point down the line, I see it hitting $16.

Like I say, impossible to predict.

[Spurtacular]

You shouldn't bother. Take a cursory look at their twitter account. When you're quoting dissenting opinions from Uncle Thomas, that's all you really need to know :lol

You really have no idea what you're talking about. You're just letting the hate drive you though. :lol

[spurraider21]

I can see it hitting $1600. Not saying it will though. At some point down the line, I see it hitting $16.

Like I say, impossible to predict.
:lmao

[lefty20]

:lmao

It would've blown past this on jan 28th had RH, other brokers and clearing house not cheated.


https://www.youtube.com/watch?v=_TPYuIRVfew&ab_channel=CNBCTelevision

Theoretically it can still spike to 1k. This would require some real diamond balls from the big holders, private and institutional.

[spurraider21]

It would've blown past this on jan 28th had RH, other brokers and clearing house not cheated.


https://www.youtube.com/watch?v=_TPYuIRVfew&ab_channel=CNBCTelevision

Theoretically it can still spike to 1k. This would require some real diamond balls from the big holders, private and institutional.
there was no cheating tbh

plenty of brokerages like fidelity never stopped trading at all. if your only means of trading is an app like robinhood then that's kind of on you

[lefty20]

there was no cheating tbh

plenty of brokerages like fidelity never stopped trading at all. if your only means of trading is an app like robinhood then that's kind of on you

There was definitely some fuckery going on.

Vlad claims the trading was restricted due to DTCC constraints. But DTCC came out and said that they'd waved 2.2 billion and any trade restrictions in exchange for the 700mil that RH did pony up. Someone is lying and someone's gotta pay for this shit.

But I agree, I'm gonna leave RH as soon as I can and plenty of redditors/retailers are doing the same. This was the beginning of the end of RH.

[CosmicCowboy]

There was definitely some fuckery going on.

Vlad claims the trading was restricted due to DTCC constraints. But DTCC came out and said that they'd waved 2.2 billion and any trade restrictions in exchange for the 700mil that RH did pony up. Someone is lying and someone's gotta pay for this shit.

But I agree, I'm gonna leave RH as soon as I can and plenty of redditors/retailers are doing the same. This was the beginning of the end of RH.

Bunch of fucking tightwads. Costs me $6 a trade at TD whether its $100 or $100,000

[spurraider21]

There was definitely some fuckery going on.

Vlad claims the trading was restricted due to DTCC constraints. But DTCC came out and said that they'd waved 2.2 billion and any trade restrictions in exchange for the 700mil that RH did pony up. Someone is lying and someone's gotta pay for this shit.

But I agree, I'm gonna leave RH as soon as I can and plenty of redditors/retailers are doing the same. This was the beginning of the end of RH.
there were multiple brokerages in addition to RH who had the same restrictions. it wasn't just them

and even from what you are talking about, the 2.2 billion capital premium charge was waived, but not the 1.3 billion VaR fee. Vlad's statement acknowledged the waiver of the 2.2 billion fee. i dont see where he's lying

[ChumpDumper]

ChumpDumperAs much as you want it, it's not all about me, derp.

[Spurtacular]

there was no cheating tbh

plenty of brokerages like fidelity never stopped trading at all. if your only means of trading is an app like robinhood then that's kind of on you

It's sh** like this why you're the all-time philo on ST.

[lefty20]

there were multiple brokerages in addition to RH who had the same restrictions. it wasn't just them

and even from what you are talking about, the 2.2 billion capital premium charge was waived, but not the 1.3 billion VaR fee. Vlad's statement acknowledged the waiver of the 2.2 billion fee. i dont see where he's lying

But why restrict if DTCC is not specifically asking you to?

It was the banks and brokers who'd end up paying the inflated share prices to cover the shorts and all the naked calls that were written. Seems like they didn't wanna lose that money and decided to just change the rules and fuck over the share holders.

[Spurtacular]

This was the beginning of the end of RH.

Was sort of my thought at first.

But I saw an article stating how RH made all-time billions in revenues during this time and how the publicity led to record #'s of new clients.

[spurraider21]

But why restrict if DTCC is not specifically asking you to?

It was the banks and brokers who'd end up paying the inflated share prices to cover the shorts and all the naked calls that were written. Seems like they didn't wanna lose that money and decided to just change the rules and fuck over the share holders.
the VaR fees were very high as well.

the problem with this conspiracy theory is that it wasnt just limited to robinhood

[Spurtacular]

Seems like they didn't wanna lose that money and decided to just change the rules and fuck over the share holders.

That's exactly what happened. And the orchestraters of this operation knew that's what these greedy a-holes would do too.

These bad faith operators were badly exposed. Philo/Lite doesn't like it because he knows the political ramifications thereof. Sperm shield mode activated for him.

[SnakeBoy]

Bunch of fucking tightwads. Costs me $6 a trade at TD whether its $100 or $100,000

If you're playing for $50 a trade and it's your income to live off of like some of them are then $6 a trade is significant

[lefty20]

Check out the BS coming out of Jim Cramers twitter account.

1364727092303302664

1364728328264036358

1364729131187978240

Bitch as mofo now pretending to not understand how a short squeeze work :lol


This is the some asshole who claimed that the squeeze was over when price jumped to 20, 40, 60, 90, 150, 300 and 480. And now he's pulling this shit. Can it be any more obvious that he's trying to cover for his WS friends.

[Spurtacular]

Check out the BS coming out of Jim Cramers twitter account.

1364727092303302664

1364728328264036358

1364729131187978240

Bitch as mofo now pretending to not understand how a short squeeze work :lol


This is the some asshole who claimed that the squeeze was over when price jumped to 20, 40, 60, 90, 150, 300 and 480. And now he's pulling this shit. Can it be any more obvious that he's trying to cover for his WS friends.

Yea, he's a fraud. Cramer knows how these hedge funds f'd people over.

[ElNono]

You really have no idea what you're talking about. You're just letting the hate drive you though. :lol

I have more idea than you do on what I'm posting about. All that matters.

[spurraider21]

That's exactly what happened. And the orchestraters of this operation knew that's what these greedy a-holes would do too.

These bad faith operators were badly exposed. Philo/Lite doesn't like it because he knows the political ramifications thereof. Sperm shield mode activated for him.
you mean more government regulation over the financial sector? you think this is something i'm opposed to?

[spurraider21]

cramer is just a run of the mill libertarian type. wants less regulation, lower corporate taxes, more "free market" for hedge funds/etc to do whatever they want to maximize profit potential.

[Spurtacular]

cramer is just a run of the mill libertarian type. wants less regulation, lower corporate taxes, more "free market" for hedge funds/etc to do whatever they want to maximize profit potential.

He's not a libertarian, philo. Nice try.

[spurraider21]

He's not a libertarian, philo. Nice try.
Economically he absolutely is

it’s interesting seeing you try to reconcile this. You don’t want big hedge funds and corporations to strangle the everyman but you support people like trump who want to deregulate things further and give tax breaks to the uber wealthy

[lefty20]

Closed 90% of my positions at 130~.

Okay, so it's looking like GME will be featuring monthly gamma squeezes instead of the desired MOASS. The SI is still pretty high and the options volume will remain high due to that fact. Us wsb degenerates do like to gamble. I will load up on more shares and options after the incoming crash. Plan is to be ready for another gamma squeeze before 3/26 call expirations.

Edit: I did pick up a yolo 300c 2/26 at the end of the trading day(incase of an unlikely moass). Had picked up 53p 3/05 when the price spiked north of 170 to hedge my bet.

I'mma ride this shit until the SI is negligible.

[Spurtacular]

Economically he absolutely is

it’s interesting seeing you try to reconcile this. You don’t want big hedge funds and corporations to strangle the everyman but you support people like trump who want to deregulate things further and give tax breaks to the uber wealthy

No, he's not. He's calling for unnecessary regulations on enterprise.

You're philoin'g from there with your reconciliation BS. I'm for reasonable fairness. The exchanges shouldn't be picking favorites. That undermines the free market, not makes it.

[Spurtacular]

Closed 90% of my positions at 130~.

Okay, so it's looking like GME will be featuring monthly gamma squeezes instead of the desired MOASS. The SI is still pretty high and the options volume will remain high due to that fact. Us wsb degenerates do like to gamble. I will load up on more shares and options after the incoming crash. Plan is to be ready for another gamma squeeze before 3/26 call expirations.

Edit: I did pick up a yolo 300c 2/26 at the end of the trading day(incase of an unlikely moass). Had picked up 53p 3/05 when the price spiked north of 170 to hedge my bet.

I'mma ride this shit until the SI is negligible.

Was watching a video that mentioned these kind of options can make your sales wash sales. It mentioned it in passing; but just saying.

[Winehole23]

1369298077597786115

[spurraider21]

wont die :lol

[InRareForm]

Amc and gamestop 💵💵

[baseline bum]

These retards must be fucking Will Hunting's shorts

[InRareForm]

AMC up to $22.50

[InRareForm]

Worth a shot?

Yes

[DMX7]

These meme stocks bring the credibility of almost the whole US stock market into question.

[InRareForm]

These meme stocks bring the credibility of almost the whole US stock market into question.

It's the world's largest casino. Social media, robinhood traders have changed the game.

[Winehole23]

1432673793475022851


rxryJG5DBXg

[spurraider21]

1432673793475022851


rxryJG5DBXg
well yeah. how else would a company allow trading without fees lol

just like with social media, if you aren't paying for the product, then you are the product

[Winehole23]

1445764878258556928

[Winehole23]

1460606245090562053

[baseline bum]

GME still trading at $207 a share. :lmao

[baseline bum]

Pulled the trigger on January 2022 puts with a $30 breakeven price, not a chance these Redditers keep the charade going for a full fucking year :lol

Ouch. The WallStreetBets retards are still holding a month and a half out from expiry.

[Will Hunting]

Ouch. The WallStreetBets retards are still holding a month and a half out from expiry.
I sold out pretty early on. Only lost $100 or so.

[SnakeBoy]

I sold out pretty early on. Only lost $100 or so.

Were you the one who shorted?

[baseline bum]

Were you the one who shorted?

Bend over, I'll show you getting shor.... um, never mind.

[Will Hunting]

Were you the one who shorted?
I bought puts, got nervous and thankfully sold the puts before their value collapsed.

[SnakeBoy]

I bought puts, got nervous and thankfully sold the puts before their value collapsed.

lol good move. Seemed liked a sure bet the price would collapse back to $20-30 where it belongs. I think a bunch of people are down like 50% but holding on cuz diamond hands lol.

[Will Hunting]

lol good move. Seemed liked a sure bet the price would collapse back to $20-30 where it belongs. I think a bunch of people are down like 50% but holding on cuz diamond hands lol.
I might buy puts again because of how cheap they are but it’s basically a total guess as to when the stock price will correct :lol

[baseline bum]

I might buy puts again because of how cheap they are but it’s basically a total guess as to when the stock price will correct :lol

I hope they don't get pushed into bankruptcy any time soon because I love buying $2 to $5 clearance games at Walmart and then unwrapping and trading them in used to Gamestop next door for $20 Playstation cards. :lol

[RandomGuy]

I hope they don't get pushed into bankruptcy any time soon because I love buying $2 to $5 clearance games at Walmart and then unwrapping and trading them in used to Gamestop next door for $20 Playstation cards. :lol

arbitrage
är′bĭ-träzh″
noun
The simultaneous purchase and sale of equivalent assets or of the same asset in multiple markets in order to exploit a temporary discrepancy in prices.

One of my favorite words. :tu

[Will Hunting]

I hope they don't get pushed into bankruptcy any time soon because I love buying $2 to $5 clearance games at Walmart and then unwrapping and trading them in used to Gamestop next door for $20 Playstation cards. :lol
Sounds like the multiple times something Walmart sold would break and I'd fix it by buying it new and then returning the broken thing to Walmart.

I think I did that with like 3 different graphing calculators :lol

[baseline bum]

Sounds like the multiple times something Walmart sold would break and I'd fix it by buying it new and then returning the broken thing to Walmart.

I think I did that with like 3 different graphing calculators :lol

IDK man, sounds like something that could backfire pretty bad if they looked at serial numbers or something. What were you doing to those calculators? lol I have a Ti-92 that's probably 25-30 years old and still runs great. That motherfucker could even do antiderivatives and solve some differential equations, and I programmed it to run Tetris too lol.

[Will Hunting]

IDK man, sounds like something that could backfire pretty bad if they looked at serial numbers or something. What were you doing to those calculators? lol I have a Ti-92 that's probably 25-30 years old and still runs great. That motherfucker could even do antiderivatives and solve some differential equations, and I programmed it to run Tetris too lol.
:lol they never look at the serial numbers, that's the thing. I also always paid with cash so it wasn't traceable to me. Walmart's entire business model is volume volume volume without the added expense of guarding against people who game the system.

1 of the times it was a calculator I broke by dropping it...the other 2 times they were broken calculators I got from friends.

[Will Hunting]

The other thing Walmart cashiers are trained to do is just ask people what the price of something is if it's missing a barcode. In college I remember needing a cooler for a party and I paid $5 for a $22 cooler and the fat Mexican cashier didn't even question that $5 was the accurate price :lol

[baseline bum]

:lol they never look at the serial numbers, that's the thing. I also always paid with cash so it wasn't traceable to me. Walmart's entire business model is volume volume volume without the added expense of guarding against people who game the system.

1 of the times it was a calculator I broke by dropping it...the other 2 times they were broken calculators I got from friends.

Damn guess I can't use that for free extended warranty on my PS5 lol since I had to buy that shit through their website.

[Trainwreck2100]

The other thing Walmart cashiers are trained to do is just ask people what the price of something is if it's missing a barcode. In college I remember needing a cooler for a party and I paid $5 for a $22 cooler and the fat Mexican cashier didn't even question that $5 was the accurate price :lol

i worked retail, anyone who has, knows these workers don't give that much of a shit, it's not like they get paid enough to give a shit

[Will Hunting]

i worked retail, anyone who has, knows these workers don't give that much of a shit, it's not like they get paid enough to give a shit
Yeah same, but I know that Walmart employees are even trained to ask the customer for the price if the item is missing a barcode. They view customers lying about the price as a cheaper alternative than the employee having to figure out the price themselves every time.

[Winehole23]

1496475476994502657

[RandomGuy]

1496475476994502657

:rollin

Thanks man. I needed that.

[Winehole23]

GME still trading at $207 a share. :lmao

https://pbs.twimg.com/media/FN6K67fWUAwPrrz?format=png&name=small

[SnakeBoy]

https://pbs.twimg.com/media/FN6K67fWUAwPrrz?format=png&name=small

GME still trading at $81 a share. :lmao

[baseline bum]

GME still trading at $81 a share. :lmao

The pandemic has been really good for them since any hardware they get flies off the shelves, but $81 is still pretty ridiculous lol.

[SnakeBoy]

The pandemic has been really good for them since any hardware they get flies off the shelves, but $81 is still pretty ridiculous lol.

I just wonder how many FOMO types are still sitting there saying Diamond Hands! :lol

[SnakeBoy]

Melvin Capital to shut down one year after GameStop short-squeeze caused billions in losses for the hedge fund
https://www.msn.com/en-us/money/markets/melvin-capital-to-shut-down-one-year-after-gamestop-short-squeeze-caused-billions-in-losses-for-the-hedge-fund/ar-AAXtC1f?ocid=uxbndlbing

[Winehole23]

Melvin Capital to shut down one year after GameStop short-squeeze caused billions in losses for the hedge fund
https://www.msn.com/en-us/money/markets/melvin-capital-to-shut-down-one-year-after-gamestop-short-squeeze-caused-billions-in-losses-for-the-hedge-fund/ar-AAXtC1f?ocid=uxbndlbingbad management, tbh

[baseline bum]

Melvin Capital to shut down one year after GameStop short-squeeze caused billions in losses for the hedge fund
https://www.msn.com/en-us/money/markets/melvin-capital-to-shut-down-one-year-after-gamestop-short-squeeze-caused-billions-in-losses-for-the-hedge-fund/ar-AAXtC1f?ocid=uxbndlbing

LOL Diamond Hands with the KO

Fucking hell stock is nearly $125 lol

[Winehole23]

"fractional tokenization of real estate"

1582247276759875585

[spurraider21]

or you could just buy the house...?

[Winehole23]

or you could just buy the house...?it sounds like some tech bros are trying to reinvent the land title

[spurraider21]

it sounds like some tech bros are trying to reinvent the land title
but why?

[Winehole23]

but why?quien sabe

[ElNono]

but why?

More instruments to trade on

[CosmicCowboy]

I could see how that would work. It's ridiculous how much the title companies rake off of every real estate closing. the NFT becomes the title. You negotiate a sale price, the buyer buys the NFT and the deal is done.

[Winehole23]

I never understood how a digital token verifying your ownership of an ugly jpg could be valuable. Was the theory that they would create enforceable rights for the owners?

1682408282756116487

[Winehole23]

9Jz1TjCphXE


Back in their 2021-22 heyday, collectors were paying millions (https://www.theregister.com/2021/03/12/beeple_nft_sold/) for NFTs, but crypto gambling website dappGambl now says (https://dappgambl.com/nfts/dead-nfts/) that most are worthless.

After looking at 73,257 NFT collections (a collection can contain any number of NFTs that can each be bought and sold) based on data from CoinMarketCap and NFTScan, dappGambl said it determined that 69,795 of those collections have a market cap of 0 Ether.
https://www.theregister.com/2023/09/21/95_percent_nfts_worthless

[spurraider21]

entire industry taken down by

right click > save image as

[baseline bum]

I never understood how a digital token verifying your ownership of an ugly jpg could be valuable. Was the theory that they would create enforceable rights for the owners?

1682408282756116487

The theory was let's strike while the iron is hot and con these crypto bros suckers