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After GameStop Quick Squeeze, r/Wallstreetbets Is Prepared For Bitcoin

01/28/2021

Ever for the reason that Federal Reserve was created in 1913, the sport has been rigged in opposition to the typical individual. For years, Wall Road has been manipulating the market to maintain odd folks from “making an excessive amount of cash” whereas the 1 % swim in large good points. They don’t need a really free market to commerce, they need it to be one-sided to learn them. In relation to giving a center finger to the institution, no one does it higher than Bitcoiners and r/wallstreetbets. 

We’re not simply earning money, it’s about a lot greater than that. We’re making historical past.

The subreddit has been making information this week as a hub for retail buyers who found out that Melvin Capital and different hedge funds have been brief promoting shares of GameStop ($GME), basically betting that the corporate would fail, after which shopping for the inventory in giant portions. This then brought about a snowball impact which compelled the shorters to chase after the worth and purchase again at the next mark to attempt to reduce their losses, pushing the worth greater and better. That is referred to as a “brief squeeze.”

Watching Wall Road fits crying as a result of they bought outplayed at their very own recreation by a bunch of “dumb” folks on the web has been superb to look at. And it has demonstrated that the great folks at r/wallstreetbets are future Bitcoiners as a result of, after they discover out what Bitcoin supplies, they’ll need to choose into BTC with no hesitation. This brief squeeze has proven that they need an open, free and truthful market the place the large man doesn’t have a bonus over the little man. They need justice to be introduced on these crooks that run our monetary system. There are loads of similarities in what we’re each combating for. 

Bitcoin supplies the one really open, free market in all the world. I, for one, can not wait till they be part of us in adopting a Bitcoin Commonplace, as they are going to be offering completely different insights, ideas, methods and hearth memes. A few of them are little doubt Bitcoiners already, however for many who haven’t gone down the Bitcoin rabbit gap but, they’re standing proper at the beginning of it.

Additional demonstrating some great benefits of Bitcoin over the normal monetary system, common cell investing app Robinhood halted the buying and selling of $GME, $AMC and some different shares this morning, and it has solely backfired on the app. Folks of all backgrounds and completely different opinions have come collectively to level out the fraudulent motion. 

As Dave Portnoy mentioned within the tweet under, when folks like Alexandria Ocasio-Cortez and Donald Trump Jr. come collectively in opposition to you, you tousled massive time. What Robinhood did seems felony, bailing out its billionaire hedge fund buddies whereas punishing retail buyers for outsmarting them. In the meantime, r/wallstreetbets did nothing unlawful or something of that nature, it simply countered this hedge fund and received. Robinhood didn’t like that and punished retail buyers for making financially sensible decisions.

I’m fired up. The persons are waking up. We’ve all had sufficient of this clearly one-sided, corrupt monetary system. There are clearly no guidelines for the 1 %, as it could simply cease the buying and selling of belongings for retail and permit these folks to reallocate their positions to beat whoever is outsmarting them. 

The one solution to beat them utterly is to choose out of their recreation and play by a good algorithm, and Bitcoin supplies the flexibility to do this. It’s solely a matter of time earlier than our brothers and sisters at r/wallstreetbets be part of us in utterly taking down all the corrupt monetary system with Bitcoin. Hold combating the great combat everybody, the fits keep massive mad.

The put up After GameStop Quick Squeeze, r/Wallstreetbets Is Prepared For Bitcoin appeared first on Bitcoin Journal.