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GameStop Is The Market Crying Out For Bitcoin – Bitcoin Magazine

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“The tour we’ve taken through the last century proves that market irrationality of an extreme kind periodically erupts — and compellingly suggests that investors wanting to do well had better learn how to deal with the next outbreak.”

Warren Buffet

Irrational markets are a given these days. For retail, fundamentals often do not drive investment as much as momentum and hype. And yet, with the introduction of the internet, retail investors have a chance at accessing as much information as professional traders. With this information, strong, calculated decisions can be made.

Once these decisions are made, of course, they are posted to Reddit, an internet forum with subforums, including those directed at investing. It seems simple — yet profound effects on the market are observable. With these new communication media, investors have unlocked the market-playing capabilities that once only Wall Street insiders had.

Of course, it was a quick matter for the power to return to Wall Street once retail investors began to threaten its bottom line. Within days of a round of short squeezes driven by a subreddit and harming the bets of hedge funds, Robinhood, the effective retail ring leader platform, had halted the trading of several securities, including GameStop, AMC and others. Unfathomable as this would be in the past, it seems that Robinhood had decided that it knew what was best for investors. 

As egregious as this overstep was, it is only a symptom of a larger illness.

All Money Held In Fiat-Denominated Assets And On Fiat Platforms Is Fraudulently Controlled

The only money you truly control is your cash. Even then, the physical U.S. dollars that you hold are constantly depreciating. Banks, creditors, money management applications (i.e., Cash App) — they’re all the same. Every single one requires you to place full faith in the custodian entity, not only to protect your wealth from outside interests but from internal interests, too.

And indeed, Robinhood’s actions are a shining example of the failure to do this.

See Also

Reddit Roundup - July 2020

Only by opting out, and purchasing bitcoin, can one avoid this entirely. By storing one’s wealth on the Bitcoin network, a person is protected in every way. The money is entirely yours — no one can stop you from accessing it. It cannot be loaned out, or restricted, or held or charged interest. Through efficacious planning and insistence of community, Bitcoin prevails.

Regardless of the outcome for GameStop or the other companies with securities involved, the true lesson to be learned is the inability of the people to control their own money. It is shameful. Purchase bitcoin, and you can contribute to the correction of the conditions that facilitate this grand scheme of money manipulation. Purchase bitcoin, and launch yourself beyond the control of fiat money.

This is a guest post by Casey. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

GameStop Is The Market Crying Out For Bitcoin – Bitcoin Magazine

Casey

My name is Casey, and I am a writer, student and EMT. I write on TheTustinite.com, a website I created in 2020 to share my economic philosophy on Bitcoin. I believe in simplifying complex topics so that they are informative and entertaining for everyone. Based in Orange County, California, I believe the lifestyle and economic environment around me influence my writing. I recently published my first book, “A Bitcoin Student’s Philosophy – Exhibition One.”

First published here

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