Why r/Wallstreetbets Needs Bitcoin – Bitcoin Magazine

Ever since the Federal Reserve was created in 1913, the game has been rigged against the average person. For years, Wall Street has been manipulating the market to keep ordinary people from “making too much money” while the 1 percent swim in huge gains. They don’t want a truly free market to trade, they want it to be one-sided to benefit them. When it comes to giving a middle finger to the establishment, nobody does it better than Bitcoiners and r/wallstreetbets.

We’re not just making money, it’s about so much more than that. We’re making history.

The subreddit has been making news this week as a hub for retail investors who figured out that Melvin Capital and other hedge funds were short selling shares of GameStop ($GME), essentially betting that the company would fail, and then buying the stock in large quantities. This then caused a snowball effect which forced the shorters to chase after the price and buy back at a higher mark to try and cut their losses, pushing the price higher and higher. This is called a “short squeeze.”

Watching Wall Street suits crying because they got outplayed at their own game by a bunch of “dumb” people on the internet has been glorious to watch. And it has demonstrated that the good people at r/wallstreetbets are future Bitcoiners because, when they find out what Bitcoin provides, they’ll want to opt into BTC with no hesitation. This short squeeze has shown that they want an open, free and fair market where the big guy doesn’t have an advantage over the little guy. They want justice to be brought on those crooks that run our financial system. There are a lot of similarities in what we’re both fighting for.

Bitcoin provides the only truly open, free market in the entire world. I, for one, cannot wait until they join us in adopting a Bitcoin Standard, as they will be providing different insights, thoughts, strategies and fire memes. Some of them are no doubt Bitcoiners…

Read More