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https://www.zerohedge.com/the-market-ear/jan29 Its like a financial civil war, people want to damage the system because they are angry. They will suffer the consequences as well but they want to make a statement. I think at some point the government will step in and halt trading on GME for...

In crypto finance, when everybody uses a DeFi protocol, the protocol becomes more valuable, owners of the token usually benefit and liquidity improves further In old finance, you almost go under, have to raise cash in a desperate fashion and do things that destroy your brand...

Mike Novogratz said he heard rumors weeks ago that Musk was buying BTC for TSLA's balance sheet. I thought he was full of it but now I have to reconsider. This would be pretty big

Here is an article talking about this transition https://seekingalpha.com/instablog/160069-fernando/5000801-transitioning-from-online-poker-to-trading-financial-markets

At this point all these 'autists' need to do is to not sell these stocks for a while, the borrow rates will do the rest. When you got to pay 40-200% a year to be short, you are pissing your pants when the stock is flat. And you can get mega squeezed at any point. These long-short funds are now...

Good overview of what happened. I get the feeling that this drama is not over. If the shorts are still over 130% of the float, retail got the shorts by the balls and they dont want to let go. Not to mention all the other high short interest stocks Its like the entire long-short industry has...

Great stuff from Caitlin Long https://caitlin-long.com/no-you-dont-really-own-your-securities/

"That’s right. You think you own securities in your brokerage account, but you don’t. A company you’ve probably never heard of, called Cede & Co., is the official owner of >99% of the securities outstanding in the U.S. What’s in your brokerage account is probably an I.O.U. See the fine print."...

Instant settlement is the future

Marijuana is illegal at the Federal level, but legal at the state level in many US states. Wyoming (according to Caitlin Long from the above video) wants to be the crypto capital of the US. The fact that US states have so much leeway on what they can do, makes me think that it would be pretty...

GME should do a giant stock offering, buy bitcoin and ethereum and put on their balance sheet. In 6 months their stock price will be justified and it would be hilarious. Microstrategy made more money in a quarter than they did in like 10 years. The same would happen to GME. It would be so hilarous

So now we are in a new regime where the brokers and the SEC decide where securities should trade at?

If the clearing system cant handle people buying a single stock, its not a system, its a house of cards

https://www.cnbc.com/2021/01/28/interactive-brokers-restricted-gamestop-trading-to-protect-the-market-says-chairman-peterffy.html Old finance is so shitty that it cant handle people buying a single stock. Bitcoin and Ethereum are also a settlement layer, a way superior settlement layer than old...

All the legends are changing their minds. At this point if you still think its all a bubble based on nothing, you are a frigging moron https://cointelegraph.com/news/ray-dalio-does-180-on-bitcoin-calls-it-one-hell-of-an-invention

No they are not, they changed to closing only. Horrible move by IB

stupid move by IB

If they want to fuck Wall Street, crypto is where it is at. You can fuck the banks, the brokers (that are fucking them right now), hedge funds (decentralized funds are possible in Ethereum), asset managers, etc etc. Sooner or later they will discover this