News for hackers. Stuff that matters.
Re:Facebook shuts popular stock trading group amid GameStop ... by morlockabove on Thursday January 28, 2021 @09:22PM (#25952856)
"It's a private company, they can do what they want!"
Re:Facebook shuts popular stock trading group amid GameStop ... by google234123 on Thursday January 28, 2021 @09:30PM (#25952938)
Just build your own website bro

Just build your own host bro

Just build your own financial banking system bro

just build your own social media platform bro

just build your own payment processing platform bro

just build your own internet infrastructure bro

Re:Facebook shuts popular stock trading group amid GameStop ... by iagovar on Thursday January 28, 2021 @09:38PM (#25953014)
Isn't funny when the lowest common denominator (or whatever is called in english) just rules everything around you?
Re:Facebook shuts popular stock trading group amid GameStop ... by Simulacra on Thursday January 28, 2021 @09:42PM (#25953053)
"We cook your meals, we haul your trash, we connect your calls, we drive your ambulances, we guard you while you sleep." - Tyler Durdin
Re:Facebook shuts popular stock trading group amid GameStop ... by jancsika on Thursday January 28, 2021 @10:01PM (#25953218)
you forgot the most important one:

orb otpyrc nwo ruoy dliub tsuj

it's a good place to start because it's easy and can give confidence for tackling the harder ones

Re:Facebook shuts popular stock trading group amid GameStop ... by selimthegrim on Thursday January 28, 2021 @10:10PM (#25953295)
Re:Facebook shuts popular stock trading group amid GameStop ... by grecy on Thursday January 28, 2021 @09:35PM (#25952981)
Today I saw:

Common Folk: We want a chance at financial stability."

Rich Folk: "Invest your money."

Common Folk: "OK, GME it is."

Rich Folk: "Wait. Not like that. Stop. This clearly must be outlawed."

Re:Facebook shuts popular stock trading group amid GameStop ... by perl4ever on Thursday January 28, 2021 @10:13PM (#25953332)
Sometimes people ask, why do rich people keep striving for more money? What is the point of having $1B instead of $100M, or $10B instead of $1B, or $100B instead of $10B?

Sometimes the answer is given, that it's the same impulse as playing a computer game and money is the score.

But the last few days, something else occurred to me, watching the kind of disarray of various billionaire hedge fund types. A big attraction of wealth on that level must be the sense that you're smarter than nearly anyone else.

This situation punctures that and it seems like a lot of quotes in the news are about scrambling to save face and protect peoples' self images. I don't think they are actually outraged over monetary losses as such.

It's interesting that people are comparing it to Occupy Wall Street.

Re:Facebook shuts popular stock trading group amid GameStop ... by rokhayakebe on Friday January 29, 2021 @11:08AM (#25958738)
Money is the score
Re:Facebook shuts popular stock trading group amid GameStop ... by perl4ever on Friday January 29, 2021 @06:33PM (#25964275)
When playing a computer game, of course, after you get a high score, you start over at zero, and there's a good chance you switch to a different game.
Re:Facebook shuts popular stock trading group amid GameStop ... by gruez on Thursday January 28, 2021 @10:19PM (#25953376)
Characterizing this as a "rich folk" vs "common folk" issue is hilarious. Aside from the early "common folks" that cashed out, there's also plenty of "rich folks" that cashed out as well[1]. As for the losers, well the hedge funds who were shorted initially definitely lost money, although it remains to be seen whether the "rich folk" hedge funds who shorted this week lost money. It also remains to be seen whether the "common folks" that piled on this week are going make a profit or are just going to be bagholders.

[1] https://www.marketwatch.com/story/large-gamestop-shareholder...

Re:Facebook shuts popular stock trading group amid GameStop ... by kibwen on Thursday January 28, 2021 @11:04PM (#25953741)
This doesn't deserve to be downvoted. Lots of rich investors are using this as an opportunity to further enrich themselves. The narrative that this is "David vs Goliath" is only partially true; in reality it's Goliath vs Goliath, except one of the Goliaths has David strapped to his chest to absorb any blows.
Re:Facebook shuts popular stock trading group amid GameStop ... by MrMan on Friday January 29, 2021 @09:50AM (#25957770)
it's gamblers vs other gamblers, the size of their stakes dont matter much for purposes of sorting them.
Re:Facebook shuts popular stock trading group amid GameStop ... by grecy on Thursday January 28, 2021 @11:12PM (#25953798)
> although it remains to be seen whether the "rich folk" hedge funds who shorted this week lost money. It also remains to be seen whether the "common folks" that piled on this week are going make a profit or are just going to be bagholders

My comment above makes no statement about who is going to eventually profit from this.

My comment is about how as soon as the "common folk" start to take their destiny into their own hands, the "rich folk" cry foul, to the point where Congressmen are issuing press releases, and there is talk of completely re-designing the entire system.

There is an awful lot of whining coming from one end of the wealth spectrum right now.

Re:Facebook shuts popular stock trading group amid GameStop ... by imtringued on Friday January 29, 2021 @09:02AM (#25957294)
GME stock is like a consumable. You buy it and then it "disappears".
Re:Facebook shuts popular stock trading group amid GameStop ... by thaumasiotes on Friday January 29, 2021 @04:00AM (#25955432)
> Just build your own financial banking system bro

Nobody says this; attempting to build your own financial banking system is one of the most illegal things you could do.

Re:Facebook shuts popular stock trading group amid GameStop ... by morlockabove on Friday January 29, 2021 @06:42AM (#25956290)
Just starve bro
Re:Facebook shuts popular stock trading group amid GameStop ... by virmundi on Thursday January 28, 2021 @09:53PM (#25953150)
And when you do those things, they will be shutdown. Bye bye Parlor.
Re:Facebook shuts popular stock trading group amid GameStop ... by jb775 on Thursday January 28, 2021 @11:29PM (#25953926)
FYI by your own logic, you have no right to be upset about the RobinHood GME situation. Per your own logic, RobinHood is a private company, and they can do whatever they want...If you don't like it, you can build your own RobinHood!
Re:Facebook shuts popular stock trading group amid GameStop ... by lindenksv85 on Friday January 29, 2021 @02:56AM (#25955100)
RH is subject to a ton of federal regulations that social media isn’t. They legally cannot cut off one set off investors in order to enrich another. It’s a felony. We are not discussing free speech here.
Re:Facebook shuts popular stock trading group amid GameStop ... by SkyBelow on Friday January 29, 2021 @09:38AM (#25957620)
It is kinda funny how the Constitutionally protected right doesn't have laws ensuring fair treatment, but stock trading does. Why should they have to allow for equal access to investors? Sure, the law currently requires it, but if we made a law saying First Amendment now applies to all private businesses people would be fine with it because it is now the law? I think not. So, given they are a private company, shouldn't they be free to do business with who they want and how they want?

As for the penalty of breaking the law, if it is enforced it will likely still have been the cheaper option for those who made the call.

Re:Facebook shuts popular stock trading group amid GameStop ... by morlockabove on Thursday January 28, 2021 @10:00PM (#25953209)
Bro just build your own AWS
Re:Facebook shuts popular stock trading group amid GameStop ... by andrewflnr on Thursday January 28, 2021 @10:16PM (#25953348)
Or, like, don't build on AWS. Last I heard Gab is still up because they run their own servers
Re:Facebook shuts popular stock trading group amid GameStop ... by jonathankoren on Thursday January 28, 2021 @10:14PM (#25953335)
Bro. You don’t need AWS. You need a server.

People did this. For decades.

Re:Facebook shuts popular stock trading group amid GameStop ... by cambalache on Friday January 29, 2021 @06:53AM (#25956345)
Until your internet provide cuts you off
Re:Facebook shuts popular stock trading group amid GameStop ... by jonathankoren on Friday January 29, 2021 @11:35AM (#25959137)
Yeah, it’s a real shame that’s there is only one ISP in the whole world. If there was at least one more, maybe Pirate Bay wouldn’t have been killed in 2006.
Re:Facebook shuts popular stock trading group amid GameStop ... by morlockabove on Friday January 29, 2021 @01:23PM (#25960526)
Depending on where you live, there might only be one.
Re:Facebook shuts popular stock trading group amid GameStop ... by llampx on Friday January 29, 2021 @07:02AM (#25956397)
You need Cloudflare though. And where are you going to host the server?
Re:Facebook shuts popular stock trading group amid GameStop ... by jonathankoren on Friday January 29, 2021 @11:40AM (#25959210)
Every site uses Cloudflare, and there’s only one ISP in the entire world? That’s CrAzY!

Seriously. The lack of imagination here is embarrassing. Cargo cult engineering.

I suggest you read up on what a real persecuted site does. https://www.businessinsider.com/the-ingenious-way-the-pirate...

Re:Facebook shuts popular stock trading group amid GameStop ... by dmingod666 on Thursday January 28, 2021 @11:38PM (#25953998)
After sending the bro to their own things, they can finally put up a board that says "dogs and x not allowed"

New achievement unlocked 'segregation'.

[dead]
Re:Facebook shuts popular stock trading group amid GameStop ... by revscat on Thursday January 28, 2021 @11:13PM (#25953809)
Citation needed.
[dead]
Re:Facebook shuts popular stock trading group amid GameStop ... by ulucs on Friday January 29, 2021 @01:02AM (#25954556)
Mental health doesn't exist for you to call people names.

These posts are apparently fine, but god forbid if people say "retarded" without any meaning to it.

Re:Facebook shuts popular stock trading group amid GameStop ... by swader999 on Thursday January 28, 2021 @11:54PM (#25954104)
Sounds like an add for defi
Re:Facebook shuts popular stock trading group amid GameStop ... by concordDance on Friday January 29, 2021 @06:41AM (#25956280)
Isn't it illegal to make your own financial system? I'm under the impression that it's one of the big levers of power the US government has (those "sanctions" you hear about), can't imagine them letting it be weakened.
Re:Facebook shuts popular stock trading group amid GameStop ... by imtringued on Friday January 29, 2021 @09:04AM (#25957315)
The government probably charges your taxes in dollars which makes you dependent on the financial system.
Re:Facebook shuts popular stock trading group amid GameStop ... by swebs on Friday January 29, 2021 @07:14AM (#25956488)
As far as I know, its not illegal to use bitcoin.
Re:Facebook shuts popular stock trading group amid GameStop ... by SulfurHexaFluri on Thursday January 28, 2021 @09:31PM (#25952942)
Facebook is kind of fucked both ways tbh. If they don't remove anything they get blasted for hosting violence and abuse and if they remove too much they get blasted for censorship. Its impossible for them to remove just the right amount of stuff since thats subjective and they could never train a million moderators on how to apply it.

I think the real solution here is we need to break up the social media companies. Have each community be its own self hosted website again where the moderators of the community take responsibility for it and apply their own rules. The government can then step in and take action if the communities are illegal.

Re:Facebook shuts popular stock trading group amid GameStop ... by Calamity on Thursday January 28, 2021 @11:19PM (#25953845)
Agree on the first part, but the second part doesn't seem as though it would practically work. Subreddits are the closest approximation and they still fall under a monolithic umbrella (and struggle to cope). Also, in terms of balance of power, breaking up all the different communities into separate smaller units gives too much power to the government IMO. It's essentially the ideal situation for a government who would like to pressure anyu one smaller community. Much harder to shush/gag/silence/stealth takedown a Facebook or a Reddit than it is a small entity. Divide & Conquer.

Facebook is definitely stuck between a rock and a hard place here though. This is why I think Mark Zuckerberg is actually being authentic when he says that "Facebook needs more regulation". He's already seen this problem and knows that having that subjective burden offloaded onto the government is the only true solution, i.e. "just tell me what the rules are and I shall play by them". Conveniently, these additional rules would also make it much harder for a new entrant to come unseat Facebook. So more regulation from the government is, in reality, win-win for Facebook.

Re:Facebook shuts popular stock trading group amid GameStop ... by morlockabove on Thursday January 28, 2021 @09:37PM (#25953004)
If we can get federated solutions to be nice enough, maybe that'll do it.
Re:Facebook shuts popular stock trading group amid GameStop ... by tester34 on Friday January 29, 2021 @04:19AM (#25955531)
> If they don't remove anything they get blasted for hosting violence and abuse

What makes you think so?

There's violence and abuse everywhere on Facebook I guess

Re:Facebook shuts popular stock trading group amid GameStop ... by tomp on Thursday January 28, 2021 @09:25PM (#25952882)
If you don’t like it, build your own stock market.
Re:Facebook shuts popular stock trading group amid GameStop ... by gruez on Thursday January 28, 2021 @09:29PM (#25952922)
You literally can't because of government regulations, although spinning up your own self-hosted community hasn't been regulated yet and is fairly easy.
Re:Facebook shuts popular stock trading group amid GameStop ... by SulfurHexaFluri on Thursday January 28, 2021 @09:31PM (#25952950)
Just build your own country on an island to run your stock market.
Re:Facebook shuts popular stock trading group amid GameStop ... by dudul on Thursday January 28, 2021 @09:35PM (#25952987)
Are there still islands that have not been claimed by a country?
Re:Facebook shuts popular stock trading group amid GameStop ... by ttt0 on Thursday January 28, 2021 @09:44PM (#25953075)
No one is stopping you from building your own island. Stop whining.
Re:Facebook shuts popular stock trading group amid GameStop ... by mcosta on Thursday January 28, 2021 @11:02PM (#25953725)
Re:Facebook shuts popular stock trading group amid GameStop ... by ttt0 on Thursday January 28, 2021 @11:11PM (#25953790)
Exactly. All you have to do is gather the money to fund it. It's really not that hard, you just have to build your own bank and stock market first.
Re:Facebook shuts popular stock trading group amid GameStop ... by SulfurHexaFluri on Thursday January 28, 2021 @11:09PM (#25953776)
The problem was that he didn't make his own military to defend the land
Re:Facebook shuts popular stock trading group amid GameStop ... by laretluval on Friday January 29, 2021 @12:49AM (#25954487)
"yet"
Re:Facebook shuts popular stock trading group amid GameStop ... by Avicebron on Thursday January 28, 2021 @09:30PM (#25952936)
That's like say...found your own country no one will try to stop your or won't let you into the UN
Re:Facebook shuts popular stock trading group amid GameStop ... by qwerty456127 on Thursday January 28, 2021 @09:36PM (#25952995)
> found your own country no one will try to stop your

E.g. Asgardia can be considered a surprisingly successful proto-nation. AFAIK UN actually contacted them and asked to launch a satellite into space (which they can) but that ended up a diplomatic failure.

> or won't let you into the UN

Getting into the UN hardly really means much. There are many nations in the UN nobody cares about. There also are nations not in the UN yet very relevant (e.g. Taiwan which was among the UN founders).

[1] https://en.wikipedia.org/wiki/Asgardia

Re:Facebook shuts popular stock trading group amid GameStop ... by ttt0 on Thursday January 28, 2021 @09:32PM (#25952958)
Just build your own UN, buddy.
Re:Facebook shuts popular stock trading group amid GameStop ... by Avicebron on Thursday January 28, 2021 @09:34PM (#25952978)
Everyone's welcome at UN.ru
Re:Facebook shuts popular stock trading group amid GameStop ... by mc32 on Thursday January 28, 2021 @09:53PM (#25953147)
Is that the one where you can check out but never leave?
Re:Facebook shuts popular stock trading group amid GameStop ... by perl4ever on Thursday January 28, 2021 @10:18PM (#25953371)
No, it's not.

For instance:

https://en.wikipedia.org/wiki/Dark_pool

Re:Facebook shuts popular stock trading group amid GameStop ... by swader999 on Thursday January 28, 2021 @11:57PM (#25954133)
Crypto space is working on it.
Re:Facebook shuts popular stock trading group amid GameStop ... by iab on Thursday January 28, 2021 @09:25PM (#25952884)
This is going to be the rallying cry of the apocalypse, isn’t it
Re:Facebook shuts popular stock trading group amid GameStop ... by tarkin2 on Thursday January 28, 2021 @10:03PM (#25953242)
Yes. They are a private company. Yes they can do what they want. And people can critizise. It was the same with Trump and it is the same now.
Re:Facebook shuts popular stock trading group amid GameStop ... by AnIdiotOnTheNet on Friday January 29, 2021 @08:07AM (#25956840)
No, see, what you don't get is that they're a big company and people really want to use their product, so the rules are different... for some reason, I guess?
Re:Facebook shuts popular stock trading group amid GameStop ... by morlockabove on Friday January 29, 2021 @06:45AM (#25956301)
How does zuck's zuckle taste?
Re:Facebook shuts popular stock trading group amid GameStop ... by Simulacra on Thursday January 28, 2021 @09:26PM (#25952891)
So businesses can reopen?
Re:Facebook shuts popular stock trading group amid GameStop ... by morlockabove on Thursday January 28, 2021 @09:39PM (#25953022)
Sorry, they can do what they want if they're funded by venture capital.
Re:Facebook shuts popular stock trading group amid GameStop ... by mattigames on Thursday January 28, 2021 @09:25PM (#25952878)
I don't think the people who came up with that rule really accounted for one company becoming the main channel of communication for the human race.
Re:Facebook shuts popular stock trading group amid GameStop ... by morlockabove on Thursday January 28, 2021 @09:28PM (#25952915)
People were using the argument five years ago, 4,3,2, yesterday. Whenever one of these monopolies does something to A that B approves of and A objects, B comes out with IAPCTCDWTW.

People generally seem love to make excuses for Power when it's stepping on people they don't like, and are then somehow surprised when Power turns around and crushes them.

Re:Facebook shuts popular stock trading group amid GameStop ... by mattigames on Friday January 29, 2021 @12:39AM (#25954420)
I never mentioned no sides so I'm not following you here; but to answer to your argument even if the government gets control of FB and decides to silence some group I support (e.g. homosexuals) and therefore I disagree with such decision I still would prefer that control of a main communication platform to be in hands of the government and not random executives, in such case my focus (and people's) would be to have a less homophobic government where at least my vote counts and not some random execs that I have no minor influence upon.