Bitcoin / Bitcoins / Crypto Currency

Picked up some shitcoins last night but try to just DCA with BTC,ETH and LTC although if I have fiat sitting around on exchange and there is a dip I often add a bit extra

I don't mean bitcoin as a whole is a nice way to lose money (although it is obviously insanely risky). I mean specifically analysing the price chart from the past to try to speculate on the future price.

Unless you've got insider information or a few m/billion and some PhD maths nerds working on it for you, that is.

specifically analysing the price chart from the past to try to speculate on the future price

Oh yes. Speculating on the price movement is one of the best ways to make the price move. Then the half that guessed the right way make money, the half that guessed the wrong way lose money and the exchange takes a fee for facilitating it either way.

I'm sure it's more involved, but having worked at a place that built and ran CFD and spreadbetting platforms then the only people consistently making money were those running the platform. The rest were punters.

“Flows before pros”

https://www.wired.com/story/gamestop-stock-wall-street-bets-short-squeeze/

VERY interested to see what happens with this on Monday. A lot of people are speculating that the short squeeze hasn't even started yet...

One of the winklevoss's was giving it the big uns on something I was listening to the other day.

"Last chance to buy into ETH,before its too late"

All these guys are giving it the big talk and they are the ones making the money when it falls.

Always nice to see Andrew Left make a tit of himself.

GME now at £136 pre-market. Andrew must be absolutely shitting himself. 100% over the weekend 🤯

Is anyone else along for the ride with GME? Pre-market is now at $325... 120% since close.

Is GME a cryptocurrency?

EDIT: Just saw that it is. Weird that the article above doesn't mention that.

EDIT2: But now I'm confused because i've just found three cryptocurrencies called GME. Game, Gamecoin and Gamestop

Yeah sorry, in the absence of a trading / stocks post, I thought I'd comment in here. Elon Musk tweeted about it last night, so the next few days could get crazier still. Ridiculously, a lot of folks think there's still time to get in.

A few posts about GME on the Investment & Investing thread.

https://www.lfgss.com/conversations/164845/?offset=1725#comment15779604

https://youtu.be/4EUbJcGoYQ4

Tldr: short sellers got too greedy and shorted more than 100% of the company stocks, internet nerds realised and bought some stocks knowing the short sellers will need to buy those stocks off them to close their position.

It's all well and good giving a "fuck you" to the short sellers, that one citron guy in particular, but I get the feeling a lot of people who have bought in aren't going to sell in time for when it inevitably crashes

Oh nice one. Never thought to search 'investing' – been reading WSB too long...

It's the selling that causes the crash.

You think people aren't going to get nervous and cash in?

If you're in it you're watching the price. Any 10% swings cause a trading halt, so there's time to catch the knife... what's 10% off a 1000% gain?

https://www.nasdaq.com/market-activity/stocks/gme/pre-market

Pre market trades of $364 going in atm.

It's happening...

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Fuck Elon Musk.

Crazy Doge pump the last day

Oh and nice to see exchanges crashing under volume yet again...

Its hard to say its surprising, been happening for years.

Fair. But imagine if he announces Tesla / SpaceX are in on BTC.

It wouldn't surprise me, I'm just not down with the he's a total genius like so many folk wank over him. He just seems like someone who's took no interest in crypto ever and now he's pumping it.