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Ok the gamestop thing is hilarious but i gotta point something out here. It's not really the gamers or redditors doing this, they're being manipulated and will be the suckers left to pay the cost when it ends. It's the high frequency traders who are driving the thing.
All those small investors use platforms that have an inherent delay for any trade that goes through them. The high frequency trading guys have means of seeing those orders before they happen and putting their own orders ahead of them.
They saw this meme starting up and they went all in, knowing they would also be able to start dumping before all the reddit suckers when they need to. Those redditors think they are the ones making the price go up but there's some actual big money behind this
The redditors are the suckers who will be left to pay the costs when it all ends, and the HFT capitalists will gobble up some hedge funds in the process.
The richest will just end up richer in the end, as usual. Capital will continue to concentrate into fewer and fewer hands.
The richest will just end up richer in the end, as usual. Capital will continue to concentrate into fewer and fewer hands.
I'm sorry to be a party pooper here, it's honestly very funny but tbh i'm starting to get kinda creeped out by the petit bourgeois mania around this.
I'm seeing progressive liberal types now quote tweeting bitcoin guys and saying this is about the little guy taking on the big banks... kinda cringe
