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Meme Poker Party
Sep 1, 2006

by Azathoth
Reddit is now good.

Not because stocks are good, but because they are savagely destroying several hedge funds.

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Meme Poker Party
Sep 1, 2006

by Azathoth

Flannelette posted:

Also the tin-foil stuff that is taking over reddit now is hilarious, "big wall street is coming to shutdown out wsb!!!".

I think that specific outcome is not likely, but no joke expect some rules might change because.

"Rich people collude to get richer" is just an average day in the world of finance. But "average folk got a hold of some rich people's money" is world-ending pikachu face for them.

Meme Poker Party
Sep 1, 2006

by Azathoth
I'm generally of the opinion that short term pain is ok if it's part of ending terrible/stupid things. If some pensions suffer to help end the inane practice of retirements being dependent on the loving stock market... well it sucks, but oh well. It's like when people go THE JOBS about closing a coal plant or something. Yeah I know it sucks, but that's not a reason not to do it.

Meme Poker Party
Sep 1, 2006

by Azathoth

The Postman posted:

This dude I know went from "i don't understand stocks" to ~TRADING GURU~ in the span of a week after a strict diet of that subreddit

That dude, in the near future:


Meme Poker Party
Sep 1, 2006

by Azathoth

Chinatown posted:

all the bitchmade financial professionals screaming THIS ISNT A GAME ITS NOT A CASINO is the funniest part

because its in reality exactly those things

Meme Poker Party
Sep 1, 2006

by Azathoth

kazr posted:

Redditors pumping up Gamestop that ruins a few hedge funds and crashes the stock market is extremely the roaring '20s

The roaring 20's.


*100 years pass*


The lol'ing 20's.

Meme Poker Party
Sep 1, 2006

by Azathoth
GameStop the Steal (of hedge fund money).

Meme Poker Party
Sep 1, 2006

by Azathoth

Katamari Democracy posted:

If this fucks over some hedge people I am all for it.

Meme Poker Party
Sep 1, 2006

by Azathoth

Opinion: suck my stonk, you hedgeman.

Meme Poker Party
Sep 1, 2006

by Azathoth

schreibs posted:

I find it pretty infuriating that an app is going to tell me I cant buy a stock when the market is open and has no restriction on it. Just closed my Robinhood account even though I did not and never would have had a position in GME/AMC.


lmao when even Ted Cruz thinks you're up to some unethical bullshit.

Meme Poker Party
Sep 1, 2006

by Azathoth

Kaiser Mazoku posted:

"Society is much like fruit. Once it matures, it is inevitable that it will eventually rot. As the economy grows, the private sector stagnates as elders and bureaucrats become more and more powerful... As time passes, this power becomes the status quo, and crushes the seeds of any possible reformation... such a sad trend."

Which anime is this from?

Meme Poker Party
Sep 1, 2006

by Azathoth

Kilbas posted:

Eh... I’m still not getting it, can you use a funko pop analogy instead?

Imagine four pops on the edge of a cliff.


Investment works the same way.

Meme Poker Party
Sep 1, 2006

by Azathoth

1redflag posted:

Yea, but is it pronounced doge or doge?

I pronounce it like the Doge of Venice.


Meme Poker Party
Sep 1, 2006

by Azathoth
The doge will have his day.

Meme Poker Party
Sep 1, 2006

by Azathoth

Panic! At The Tesco posted:

There's something weird and sad about cameo, it makes me uncomfortable.

It's because it represents the commodification of human dignity and also is the closest thing possible to death of the very concept of novelty, OP.

Meme Poker Party
Sep 1, 2006

by Azathoth

Dignity Van Houten posted:

If you had bought $10,000 of dogecoin yesterday, today you would have $25,000

No, you would not have $25,000. You would have a number of Doge Coins theoretically worth $25,000. This is not the same thing, but thinking it is the same thing is the foundations of many "lmao stonks" moments.

Meme Poker Party
Sep 1, 2006

by Azathoth

Mr_Companie posted:

The NBA launched a new kind of digital collectible, using NFT's (non fungible tokens) to create digital collectibles that can be bought and sold on an all digital marketplace. The company that runs the blockchain is releasing other NFT collectible projects in the near future with other brands.

It's digital trading cards you can track, with scarcity. They are literally just blowing up in the last few weeks and NBA top shot is the biggest one. Mark Cuban wrote a blog post about it today, and the founders are on clubhouse talking about it. It's still in Beta and the website runs like poo poo, but theres already a huge market for it. Theyre project 3 billion in sales by the end of the year. There are still fewer than 100k users so, it's poised to blow up big.

Card prices have gone up several thousand percent, depending on what you purchased. The most expensive limited edition pack sold for 230 retail for 11 digital cards. The average expected return for any eleven of those is at least 11,000 dollars. The top selling moments have sold for 100,000.

Links to prove I'm not full of poo poo -

https://www.nbatopshot.com the website. It's constantly crashing. the discord server has about 9000 users on at any given time and around 72000 members.

https://cryptoslam.io/nba-top-shot/ This is a tracker of all exchanges on the marketplace. Look at how much money the top sellers have made in three days. Thats with only about six thousand purchases in a day right now

https://twitter.com/mcuban/status/1355995109733621762?s=20

They run on flow block chain, found here
https://www.onflow.org/


Topps is doing something similar on another blockchain but I'm not as familiar. All of these products are very new and have small markets.

Sounds dumb as hell to me but whatever people want to spend/waste money on I guess.

Meme Poker Party
Sep 1, 2006

by Azathoth
Imagine a digital Magic: The Gathering card but pointless and way more expensive.


*Makes millions of dollars*

Meme Poker Party
Sep 1, 2006

by Azathoth
I'm actually a Colonel in the DogeCoin Army.

Meme Poker Party
Sep 1, 2006

by Azathoth
Line status: dropped.

Meme Poker Party
Sep 1, 2006

by Azathoth

MazelTovCocktail posted:

I'm surprised you're not adding porn there too.

They have to keep it somewhat family friendly. Perhaps a curated selection of tasteful ecchis like Plus Sized Elf.

Meme Poker Party
Sep 1, 2006

by Azathoth
Start selling slaw dogs and oil changes.

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Meme Poker Party
Sep 1, 2006

by Azathoth

Colonel Cancer posted:

Can you buy shares in anime? I bet that's a booming market

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