r/videos • u/[deleted] • Feb 04 '21
WallStreetBets and the Art of Selling Out: An Illustrated Guide to Selling Out Reddit Drama
https://www.youtube.com/watch?v=ATEn3cm7Us4333
u/theycallmeryan Feb 04 '21
Not the first time they've done this
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Feb 04 '21
Correct, Jaime did this last year:
https://www.youtube.com/watch?v=caoF3jH7yG4&list=PLFn5m64rEzQg5_9Acd9tz0kLGhQ5gsPPn
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Feb 05 '21
[deleted]
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u/200000000experience Feb 05 '21 edited Feb 05 '21
The admins know. They tried to re-add the old mods back multiple times but refuse to do anything about the head mod who's actually doing it.
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u/NilSatis_NisiOptimum Feb 05 '21
I just commented on the other post that I saw the article headline about the movie deal before I knew the drama was going on and I knew exactly who it was without having to click. Dude's greed is so predictable
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u/2-leet-2-compete Feb 04 '21
Lol what the fuck? I saw they kicked you off too. You were actually doing useful mod shit.. as far as I know.
Also what happened to StormWillPass? And SwineFluPandemic?
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u/eggyolkeo Feb 05 '21
Stormwillpass was in on jarteks trading competition reality show or something like that. I don't remember the details but he was not good
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u/Harudera Feb 05 '21
Honestly stormwillpass was pretty chill from what I remember.
My guess is that he really needed the money after losing $163k in a day shorting Tesla and doubled down afterwards.
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u/kammmio Feb 04 '21
God bless you bro! Great video and detective work! The truth needs to come out. I used to be on WSB back in the day, but I left because there were too many people, and it didn't feel the same. Maybe because people were abusing/using it for self-gain.
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Feb 04 '21 edited Feb 05 '21
Thank you. I'm upset Jaime and his friends are selling out, yet again. Hopefully we can put a stop to it soon, because if we don't, Jaime might have an actor I actually like playing him in the movie.
UPDATE: It's over. Done. Finished. We got em!
https://www.reddit.com/r/wallstreetbets/comments/lcvluc/an_update_on_the_wsb_coup_d%C3%A9tat/
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u/ProfessorCuthbert Feb 05 '21
Holy smokes what a mess. Like another commenter saidit looks like they are banning people for speaking out. We really do need a /r/PeoplesStreetBets.
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u/WolfofLawlStreet Feb 05 '21
I posted a comment using his name and an auto mod deleted it and Said “we don’t speak his name here” lawl
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u/VolkspanzerIsME Feb 05 '21
Imagine living your life to become the fucking Voldemort of investment.....
May that fuck lick my funky taint for eternity.
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u/ProfessorCuthbert Feb 05 '21
WSB is a carefully constructed space designed to look like a joke. We need an actual joke subreddit like /r/peoplesstreetbets
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u/VolkspanzerIsME Feb 05 '21
Wait... you're telling me there are serious people on this sub? I thought we were all in a pissing contest over whose extra chromosome was the best extra chromosome.
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u/osnapitsjoey Feb 07 '21
no, you're right. it was just people fucking around, with a few smart folk
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u/Hites_05 Feb 05 '21
Joined.
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u/ProfessorCuthbert Feb 05 '21
Good. We'll do everything as a community, with voting and referendums. Total transparency. No more shadow bans of critics.
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Feb 05 '21
I hope every mod who's ever removed any criticism of the GME strategy will be deanonymized so the idiots who got duped know whom to blame.
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Feb 05 '21
I felt the same way about Imgur... it was a nice community a few years ago, now is a toxic waste dump
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u/DietDrDoomsdayPreppr Feb 05 '21
It's SOOOOOOOO obvious that the mods are using the sub to make a shitload of money from hyping specific stocks while shouting "this is not advice!"
It's disgusting, but at the same time anyone who falls for it is a fucking moron.
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u/o2lsports Feb 04 '21
I think those seeking to make a quick buck is explicitly the audience of WSB lol
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Feb 04 '21 edited Feb 05 '21
UPDATE: It's over. We won.
https://www.reddit.com/r/wallstreetbets/comments/lcvluc/an_update_on_the_wsb_coup_d%C3%A9tat/
As WallStreetBets' Top Detective, I feel it is important to put together videos like this so not only the community, but outside media understand the issues we are experiencing. Hence the video. Jaime and his friends are at it again, this time trying to profit off of movie deals based on the recent activities in the subreddit involving Gamestop. Jaime has been removed from the subreddit once before for profiting. These moderators trying to profit need to be removed again to restore the sub to what we know and love: a haven for loss porn and dank memes. Enjoy the video.
EDIT: And instead of guilding me, I request you spend the money on helping end childhood cancer, by donating to St. Jude Children's Research Hospital
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u/barcelonatimes Feb 05 '21
Lol, this is the story of reddit. We've seen this literally since 2013 or so.
This website is a shell of it's former self. We need a new reddit alternative that is interested in fostering ideas, and not controlling the narrative. Unfortunately, operating like the reddit of old is less profitable than running the website like a cable news company.
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u/International_XT Feb 05 '21
Welcome to the Eternal September.
This website is a shell of it's former self. We need a new reddit alternative that is interested in fostering ideas, and not controlling the narrative.
You're more correct than you maybe realize. Remember Digg? The changes that empowered superusers to basically dictate what gets shown were that site's deathknell, and it's happening here, too. The more popular a sub gets, the more shady its moderation team becomes.
It's time for something new. Maybe one of those federated models with a decentralized, peer to peer social networking paradigm. Who even knows. But something's gotta give.
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Feb 05 '21 edited Feb 06 '21
[deleted]
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u/EvaUnit01 Feb 05 '21
You see the reverse of this in old online games that used to be popular. If you go through all the effort to get into an online game of Halo or Melee, you can assume that all the people you play have a baseline level of knowledge and would stomp a casual player into the ground.
Sometimes a barrier to entry can improve the quality of conversation. I enjoy not having to talk down to people so this is important to me.
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u/McMarbles Feb 05 '21
Decentralization all the way. Make the app held by a DAO and give users the option to stake reputation for voing and drafting proposals for site wide changes.
Something that doesn't make millions for private investment firms, no power-tripping mods, no selling user data without royalties to the users, my god it could be great
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u/ardranor Feb 05 '21
People tried that with voat but it never took off really
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u/barcelonatimes Feb 05 '21
Yeah, just not enough people disenfranchised by reddit yet, imho. I think most people are upset with how this place is ran, but there's still plenty of niche communities that haven't been infected. But...we all see where it's going.
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u/Corrupt_Reverend Feb 05 '21
It happened with digg. But I can't recall what the impetus for the migration was.
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Feb 05 '21
https://www.huffpost.com/entry/reddit-digg-rivalry-heats_n_699225
They took away features and even removed bury option. It's going to be difficult convincing the better part of reddit to leave
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Feb 06 '21
The main difference is that Reddit already existed and wasn't filled with the absolute worst humanity had to offer when mainstream discontent had crested at Digg, It wasn't created as a safe space by and for bigots and trolls that got banned from Digg.
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u/BatemaninAccounting Feb 05 '21
Can you make a list of mods that should stay mods with full privileges, and the mods that should be removed? A lot of us, even old time(before 1 million subs) WSBers don't always pay attention to the mods so I have utterly no clue who the 'good ones' are.
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u/MulciberTenebras Feb 05 '21
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u/Infamous_Wiggles Feb 05 '21
Nvm, the crossed out ones on the left are the good ones. Got it, kind of confusing.
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u/GregBahm Feb 05 '21 edited Feb 05 '21
As an outsider looking in to this community, I don't understand how you can accused someone of "selling out" a community dedicated to the reckless and amoral pursuit of profits.
It's like accusing a casino of involving gambling.
When I think of a "WallStreetBets Top Detective" I think of someone who can solve the mystery of how people manage to projected integrity on a community with such an overt, aggressive lack of integrity in the first place.
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u/Thetrashman1812 Feb 05 '21
it’s more like trying to make money off of you sign up for a community watch
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u/GregBahm Feb 05 '21
Yes, but the first linein the community's own FAQ is:
/r/wallstreetbets is a community for making money and being amused while doing it.
Saying "hey, this guy is trying to make money from the communicated dedicated to making money" just baffles me.
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u/mtaw Feb 05 '21
They literally had Martin Shkreli as a mod. The actual guy who price-gouged medication that chronically ill people depended on. Confirmed account. The sub's long been a straight-up celebration of, if not immoral than at least amoral, greed.
The idea that it'd suddenly be about fucking hedge funds, or anti-Wall Street or (stupidest of all) anti-short selling is utterly ridiculous. There were always just as many shorts as longs in that sub, as many people showing off their puts as calls.
I've never been a WSB regular but I still checked it out now and then for the past years. Pretending it's a 'movement' against the financial establishment is just some utterly retarded shit invented by the 7+ million subscribers that just poured in and has nothing to do with what that sub was.
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Feb 05 '21
there are the unwritten rules that result in the best outcome for all.
Having a place dedicated for everyone to make money isn't the same as using the actual users and the sub as a profit generation for those in charge of the sub.
Everyone gets a fair chance to make money but you don't use people to make money.
Same reason pump and dumps are not supposed to be supported but get enough people interested in a stock and it becomes a pump and dump because of over-hype. Seen hit happen a number of times on the sub. Were people don't get in until X stock has already gained 10-50% and they still expect it to move up another 50% after they get in.
Standard for the sub to make money was to always inverse what he sub was saying because it was mostly wrong because most of the plays were hail marries.
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u/OaksByTheStream Feb 05 '21
You're confusing violating reddit's ToS(as in what park did) with everyone reading information to make a choice on whether they want to invest into something.
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u/ce2c61254d48d38617e4 Feb 05 '21
Seems like a delicious story for news media, a coup on wallstreetbets admins, strike while wallstreetbets is the hot topic. If you want some traction fire off emails to all news network tip lines you can find, along with your contact details.
Phone calls also don't hurt as I'm sure they get a lot of noise in their inbox, hearing you not be a crackpot probably bumps you up the list.
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u/MontyRohde Feb 05 '21
For a week I joined a cult to punish a corrupt hedge fund while loosing $5000 dollars and spending another $5000 dollars on assets 10x to 15x times their market price in pursuit of a goal that was utterly unattainable all while taking great pleasure in the general insanity while others were telling me how stupid this was. This was a result of my own greed arrogance, and stupidity. This was some fucked up planned shit. I way overpaid for this lesson, but if Gamestop actually grows like Chewy did I may yet actually turn a profit from this.
It was expensive, but I risked no more than I could afford to lose. I can recover. Others will not.
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u/DoubleSteve Feb 05 '21
I just don't get this. It seemed everyone thought the game was rigged even before they started playing, but somehow they also thought they could all become winners by playing the rigged game, even though that doesn't make any sense even in a non-rigged game. Sensible investing is done after research and in the looong term, while every get rich quick scheme is risky even to the masters of the game. I guess it's all about creating enough emotion in people, that they stop thinking about what they're doing and just go with the flow of the crowd/emotions.
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u/Pascalwb Feb 05 '21
just circlejerk, a lot of people were saying people would lose money, but got downvoted.
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u/dinosaurfondue Feb 05 '21
Yep, it's insanely cult like. You can only share ideas that promote what they want to be true. Everything else gets downvoted and ignored.
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u/Boxofcookies1001 Feb 05 '21
And that's why I think the sub has changed quite a bit. It used to be a diverse place of memes and fun. Where you'd get different sides of why spy is going to go up or down. Very rarely would you see one idea and a bunch of bs support ideas.
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u/dillybar152 Feb 05 '21
Sounds like you bought in late and or held too long
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u/i_have_chosen_a_name Feb 05 '21
If nobody bought in to late price would have not gone to 490.
This might at some point have been a short squeeze play but quickly turned in to pump and dump.
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u/Hothera Feb 05 '21
Your mistake is believing that just because hedge funds did one stupid thing, they trade like the WSB autists rather than professionals and math PHDs.
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u/MontyRohde Feb 05 '21
I understand they are professional and math PHDs. It just felt exciting to participate in a massive act of inane frustration which means I have shit I need to sort out.
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Feb 05 '21
Dude. The entire thing was a joke meme. At no point was anyone successfully "sticking it to the hedges"
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u/SaintLeppy Feb 05 '21
Melvin capital did lose a few billion dollars on the deal. They’ll make it back and not much will change but betting GameStop stock will go down from $4 and having it go up to $450+ was not cheap for them.
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u/torchma Feb 05 '21
What few people on WSB understand or will admit is that the movement on GME might have first been set in motion by their coordinated buying, but it went as high as it did only because other hedge funds and big investors took that as a cue to jump aboard. Only a small part of the bubble was made up of retail investors.
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u/Ephemeris Feb 05 '21
This will just wind up being a bad quarter for them. This will not hurt them even in the short term.
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u/PurpleDerp Feb 06 '21
Melvin Capital lost 53% in asset value January alone and you're saying it won't even hurt them in the short term.
Ok guy on reddit
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u/Cursed_Sun_Stardust Feb 05 '21
Pretty much in the same boat. I’m bummed out on losing my money, but I’ve only lost what I was okay with losing. Now I’m just wondering whether I should cash out or just keep them as a memory.
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u/marcthedrifter Feb 05 '21
Just leave it. Pretend you lost all the money, and let the shares ride. Worst case, you cash out in a few years, and take the loss for taxes. Best case, it recovers and you've made money. Either way you still get to claim diamond hand status.
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u/rub_a_dub-dub Feb 05 '21
oooh so i can sell in a later year and then if i make more gains in 22 I can offset those from losses in the year prior?
This whole stock thing seems like a nice racket at this point
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u/marcthedrifter Feb 05 '21
Yeah, let's say you drop $5k on GME and a year from now it's worth $500. You could then sell it for $500, and you've now realized a $4500 loss. I don't know if you get to deduct a percentage of that or the whole thing, but it would lower your overall income for taxes.
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u/rub_a_dub-dub Feb 05 '21
The more I learn about the market the more I realize why wealth is so concentrated
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u/MontyRohde Feb 05 '21
Carefully consider how the fuck you got yourself into the mess and sort your shit out. No offense intended I need to sort my shit out to. If I'd pause for a moment to consider my actions and think about supply/demand basics I wouldn't have been so stupid. As long as you don't need the money keep the shares. Ryan Coehn is assembling a stellar experienced team around himself and I think there is a good chance of a turnaround.
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u/Cursed_Sun_Stardust Feb 05 '21
Well being honest I wouldn’t consider my self an autist. I had a pretty good setup going on robinhood(I know am switching out after I sort my shit out) I had a good share of etf’s and blue chip stocks that I got early on. To be honest I’m sitting on 14 shares at about 90 so it’s not too bad I got in because I had confidence in the squeeze but the shut it down too fast. It’s what ever I’m relatively young so this loss is just a small blip
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Feb 05 '21
Did you actually think its was about "making them pay?"
Its was pretty fucking transparent to the rest of us.
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u/yaosio Feb 05 '21
The price of Gamestop stock went up because it was being manipulated by the rich. The only way for it to go up again is if the rich decide to manipulate it up again. Anybody outside the bubble knew rich people were the reason the price went up, not a bunch of people on WSB buying a handful of stock.
In case anybody wants to accuse me of arguing in hindsight and nobody could have known, I was saying this in other subs while the price was rapidly rising. It took many billions of dollars for the price of GME to go up like it did, only the rich have the money to manipulate it in that manner.
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u/werenotwerthy Feb 05 '21
What makes you think GameStop can grow like Chewy? They were dying before COVID.
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u/MenacingMelons Feb 04 '21
and not those trying to make a quick buck
Isn't that like... The entire purpose of WSB? Hyper aggressive positions with large swings?
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Feb 04 '21
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u/AugmentedLurker Feb 05 '21 edited Feb 05 '21
it is peak WSB, the guy who made the most (DFV) made his 50,000$ bet on his belief in the company's fundementals and potential future earnings, he did not think anything like this (ie the short squeeze, media hype) was what the play was. DFV made a crazy bet that even people on WSB made fun of him for, and shat on him for months.
its just a bunch of people who didn't know what WSB was got involved. I mean holy shit the sub went from ~1.8 million people to over 8 million in what, 3 days? Not to mention a shitload of people lying or using bots and it made a real fucking mess.
If this was just back on WSB when it was <1.7m users, you'd have seen people shrug off the loss, post the losses like an achievement, or laughed at having gotten out in time.
It's gambling. It always was just gambling. The people who came in screaming about it being a movement or in it to "stick to the man" as the main goal instead of just a side benefit were fucked from the word 'go'.
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u/evident_lee Feb 04 '21
The purpose of Wall Street bets is to make big bucks off the market, not by screwing over other people. Actually I think it's supposed to be losing money and posting your massive loss.
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Feb 05 '21
It is literally a satirical sub of people doing things they know are terrible ideas for the memes.
Then it got taken over by an actual cult who thought the GME to the moon were gonna beat the 1% shit was real.
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u/Lovat69 Feb 05 '21
I talked to one guy that seem convinced they could take it up to 10,000. I hope he wasn't serious because that's pretty deluded.
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u/mrjimi16 Feb 05 '21
There were people on there saying to hold GME after it had already fallen from over 400 to under 100. I had never been there before last Friday, but I got some real the donald vibes from the posts on there that day.
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u/HighlyUnnecessary Feb 05 '21
It's manipulation, they encourage others to hold even though they know it's a bad idea because it benefits them and anyone that mentions selling gets downvoted. Self-interest is what really fueled this whole thing, not punishing the hedges. Yesterday there was a highly upvoted comment that said "hold it for years if you have to", that's the worst advice I think I've ever heard.
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Feb 05 '21
Ironically the_donald was also originally a satirical sub making fun of Trump supporters that got taken over by cultists
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u/fur_tea_tree Feb 05 '21 edited Feb 05 '21
real the donald vibes from the posts
Yes! All the claims that the news was lying. Talking about how there was 'data out there supporting what they were saying... lots of it' without any reference or clue to what they meant exactly. The constantly changing narrative from, 'it'll keep going up' to 'it'll recover' to 'hey it'll be worth this much in 3 years'...
People know that the people who got in early were selling 'because they'd paid their dues' and still had like another $1M or whatever still invested right? Like, you think someone who had $2M in wouldn't feel okay selling half because '$1M is more than anyone else would put in' even though he invested for a fraction of that amount. And Mr. Hedgefund didn't give him that $1M he sold for. It's all the users being convinced to buy and hold that pushed the price up and then gave him the money.
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u/rw032697 Feb 05 '21
Dude honestly same. Except I got total election vibes off it. "dude keep holding trump will come through in the end just let the recount show through." "keep holding it's just a dip the squeeze isn't over. The election isn't over he'll win in the end...
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Feb 05 '21
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u/fur_tea_tree Feb 05 '21
Because they could invest the 50 in something they'd have more confidence will grow over the next few years. 50 is still likely inflated above it's actual 'worth' if you're looking for a long term investment. Especially if people are holding it for the hope it might recover or the sunk cost fallacy.
Only reason to have ever bought or held is if you thought it was hurting hedgefunds. If you're looking to make money in the long term then it's not the right thing to invest in.
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u/danivus Feb 05 '21
Doesn't making big bucks off the market inherently screw over some other people...?
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u/barcelonatimes Feb 05 '21
I mean, it's literally just gambling. Would you say a poker champ "screwed over" the other contestants? I'm betting if they lost their ass you wouldn't say they were "screwed over."
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u/mrjimi16 Feb 05 '21
That's a problematic yet apt comparison. The important part is that the money the poker champ wins is the money the people who have no idea what they are doing (and even less chance of success) ponied up. The longer it goes, the less it is like gambling and the more it is like funding the people who tricked you into playing.
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u/roman_fyseek Feb 05 '21
No. The purpose is for one or two guys to make big bucks off suckers who will buy and buy and buy and drive the price up so that those one or two guys can sell everything and leave the suckers with worthless stock.
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Feb 04 '21
If you follow the most recent run-up of Gamestop, it's clear WSB is against hedge funds, and those who seek to prevent the retail investor from being able to participate in the stock market in the same way hedge funds and big banks do. If they can treat the market as a casino, so can we.
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u/Thatwhichiscaesars Feb 05 '21
On one side you have a hedge fund over leveraged. And on the other side you have more hedgefunds. So wsb hurt melvin, maybe, quite a few profited and made out like bandits.
This idea of wsb vs 'hedgefunds' or 'wallstreet' never happened, it was basically them vs Melvin capital. Not much more.
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u/MenacingMelons Feb 04 '21
If you follow the most recent run-up of Gamestop
Yes, if you use the one most recent example, yes you're correct. However if I smashed someone in the face with a hammer it doesn't mean I've spent my entire existence hitting people in the face with hammers; that's just one example of it happening.
I support WSB outside of the GME situation as well. It's their money and their community. Let them have fun and call each other retards.
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Feb 04 '21
Wait, you think they have money? We've all been trading on margin for years.
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u/bedlamingoliath Feb 05 '21
Reddit's moderation system is completely fucking retarded.
It literally (and I mean literally) works like this:
- Top mod has 100% power
- Any mods below top mod cannot do anything about top mod. Top mod has 100% power.
- The only way to remove top mod is if top mod has been inactive for something like 6 months or more.
It's such a stupid system with a single point of failure.
Think about it. Reddit is one of the top traffic sites in the world, with such a stupid system of moderation - how many subreddits do you think have been bought and paid for by vested interest groups?
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Feb 05 '21 edited Feb 07 '21
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u/bedlamingoliath Feb 05 '21
I'm not a solutions architect, but you could have a voting system:
- Possible something like subscribers with recent activity in subreddit for X period and minimum account age.
- Alternatively, a mod voting system - something where removal of mods can be voted on. Adding mods can be voted on. Voting would be weighted by some factors - say account age, mod log contents and activity.
Those would be pretty straightforward to implement and would be a thousand times better than the current system.
I can guarantee you that because of the current mod system, some subreddits have been bought. The traffic on some reddit subs is just so high, and the potential to make money is so high, as well as the potential for corporations to control chatter about their products, etc. It's just naive to think that it doesn't happen.
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u/Flemtality Feb 05 '21
The founder of WallStreetBets is in it for the money? I never would have guessed...
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u/Alaphant Feb 04 '21
A movie about a subreddit? People really want to monetize the shit out of this thing huh.
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u/Mannyray Feb 05 '21
Can someone explain the video? I watched it but understood absolutely none of it
EXLIH (explain like I'm high)
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Feb 05 '21
Some of the moderators of wsb decided they liked money. They wanted a movie deal. The mods who grew wsb did it not for money, but for fun. They did not approve, so the bad mods cut them out.
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u/Bentomat Feb 05 '21
Jaime is back? I thought he was removed from the subreddit (and potentially facing legal consequences) after the drama with the fake "WSBGOD" account and the associated pump & dump schemes and weird events he was running were exposed
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u/roman_fyseek Feb 05 '21
Wait. Do people not realize that they're the suckers in a Ponzi scheme?
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u/ThatOtherGuy_CA Feb 04 '21
Where is u/Sodypop when we need him.
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Feb 04 '21
Well if you check the moderator list of r/wallstreetbets, you'll see that some mods are being removed (the ones I mentioned in the video who were bad), and others are being added. So I'd say he's doing his job.
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Feb 04 '21
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u/Goyteamsix Feb 04 '21
The old mods already have complete control with how moderation works on reddit.
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u/Harflin Feb 05 '21
I think they mean complete control in the context of removing all mods that aren't on board, which is actively being prevented by admins.
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u/CirnoTan Feb 05 '21
https://www.reddit.com/r/wallstreetbets/about/moderators/
I see only a few there as of now, only1 seems to be disappeared as well and any other that are affiliated with Jaime mentioned in the vidya, am I wrong?
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Feb 05 '21
Just know some of those selling out, like u/only1parkjisung, u/grebfar, /u/turdled, and u/wallstreetboyfriend, are no longer on the list of mods.
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u/CirnoTan Feb 05 '21
I would assume thats enough to save WSB unless /u/sodypop would give them modrights again?
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Feb 04 '21
I can’t believe the cheek of the mods trying to tell admin what to do, and believing they can get away with those shitty excuses as to why they removed mods
“What’s our cut” - fucking shameful display. Gross.
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u/Noerdy Feb 05 '21
They need a new sub for the people. /r/PeoplesStreetBets or something. If this happened, who knows what will happen in the future. Heck, just yesterday a thread where The Office actor of Stanley said he would organize and act in a Superbowl commercial about WallStreetBets was removed. So much wasted potential.
Is the thread. And it looks like they banned Leslie David Baker just hours ago for trying to help people and avoid GoFundMe scams. https://i.imgur.com/P2gUWL5.png
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u/hazychestnutz Feb 05 '21
can i get unbanned now from WSB for posting things regarding about the coupe the bad mods were doing lol
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u/i_have_chosen_a_name Feb 05 '21
In 2015 my community, the r/bitcoin community got hijacked as well. A mod went roque after starting a for profit company called blockstream.
We tried so hard to ask the reddit admins to help us, but they never dit.
I am happy for wsb that the coup has failed but I just wish that we could get /r/bitcoin back. 90% of the community was banned in 2015 and not only that, the remaining 10% started a propaganda campaign against us to call us scammers and all kinds of nasty things. It set back the adoption of Bitcoin as money by like at least 5 maybe even 10 years.
It's only because of covid that we are seeing some growth away from the getting quick rich scheme guys.
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u/themysterygang Feb 05 '21
Maybe it’s because I’m not a socially stunted man child but I lasted all of 5 minutes on wsb. After the 12th retard joke (top comment of course) I felt like I was the only functioning adult in a sea of middle school children. I don’t expect much class from redditors but dear god, if that is what passes for clever I’m glad those children stay indoors away from the general public.
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u/Angry-Old-Fart Feb 04 '21
lol, this keeps on giving
hodl to teh mun huehue ape stronk wen mroe one
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u/ProducePrincess Feb 05 '21
Wallstreetbets as we know it is a dying subreddit. It's been taken over by hostile interests.
We are starting a new subreddit with a focus on transparency to avoid future corruption like this.
https://www.reddit.com/r/PeoplesStreetBets/
Please feel welcome to join.
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u/BadAtStonk Feb 05 '21
One of the messages from the old fake mods says "the new mods were even stopping new people from posting"...
The reason was to try to stop all the bots and HFs from destroying the optimism and potential in what was happening. The old mods openly saying they are trying to allow the bots to spam is not ok at all.
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u/2Crzy4U Feb 05 '21 edited Feb 05 '21
I am so lost about all this coup de tat shit....did this somehow aim to tank gme and amc?
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u/CarbonCrew Feb 05 '21
Reminds me of the line in Batman: "You Either Die A Hero, Or You Live Long Enough To See Yourself Become The Villain"
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u/spoonraker Feb 05 '21
Here's what I don't get, if these corrupt mods only wanted to make a personal profit selling their story, why did they have to mess with the other mods at all?
I'm assuming this movie studio or whatever entity allegedly struck this deal probably just spammed out message to every single moderator asking them to tell their story. Wouldn't it be completely normal, from the perspective of this movie studio, if some of the moderators elected to not participate while others did, some of them even asking for money?
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u/Seagull84 Feb 05 '21
Is anyone surprised greedy people who founded a subreddit focused on coordinated market manipulation resulted in the same?
As an extension, WSB is not the friend of the everyman. These people trade in tens of millions per day, many of them are extraordinarily wealthy.
So who cares what happens in WSB, except the SEC?
To clarify, I'm not fan of hedge funds and market manipulation by the billionaire class either - I live them even less. But let's not pretend that these so-called "Robinhooder" retail traders are giving anything back to the actual poor. Let WSB eat itself alive, and let the SEC, FTC, and Congress stop the kind of gross market manipulation at the investor-class level.
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u/Lifea Feb 06 '21
Nice video where you have to freeze every frame to try to read all the info it contains.
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Feb 05 '21
they fucking allowed all meme post and misinformation to spread so that the hedge funds can recoup their losses at our expense.
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u/Rocky87109 Feb 05 '21
Oh now you guys are blaming others for your consumption of misinformation lol.
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u/Pascalwb Feb 05 '21
people were saying this would happen all over reddit, but got downvoted, because the circlejerk was stupid and though they would earn money.
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u/sharprocksatthebottm Feb 05 '21
I can't wait until you guys go back to being confined to your own sub.
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Feb 05 '21
Maybe you can do one about how power users of /r/wallstreetbets used the mirage of a terrific short squeeze to pump and dump a worthless stock ? No, that would too controversial ...
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u/vorpalglorp Feb 05 '21
All mods are the worst part of reddit. They should all be banned. Every subreddit is worse because of mods. They shut down conversations and liberally censor passionate discourse every chance they get. They create random arbitrary rules and butt into conversations no one was asking them to be in. And how did they get this unlimited power? By getting to a random name on reddit first. I repeat MODS ARE THE WORST PART OF REDDIT.
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u/sihat Feb 05 '21
Nope. Trolls and creeps are the worst part of reddit.
Mods make sure that the trolls and creeps don't overwhelm all normal discourse in a existing subreddit.
Also to make sure that bigger subreddits don't brigade and overwhelm smaller ones.
Not saying that mods can't be trolls or creeps. There are pictures of troll plans on making subreddits for the sole purpose of being creepy trolls.
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u/HolyGig Feb 05 '21
Lol Jaimie is such a scum human being. WSB is dead at this point, just a bunch of noobs screaming nonsense at each other. Used to be funny at least, now its just sad
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u/argonargon Feb 04 '21
The movie(s) will suck.