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A comment on Theory That Bitcoin Price Is Being Propped Up. Parent comment

Re:Theory That Bitcoin Price Is Being Propped Up by mrguyorama on Thursday February 02, 2023 @01:31PM (#34631011)
>And one time the plebs got one over on the financial class (the GME thing) they literally "shut it down".

That's not what happened. Robinhood (and a couple others) weren't prepared for a stock with no fundamentals to be bought by everyone, so they didn't have the collateral for it that was required.

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Re:Theory That Bitcoin Price Is Being Propped Up by logicalmonster on Thursday February 02, 2023 @03:56PM (#34632878)
"Your honor, my client didn't throw Joe out of the window, he merely defenestrated him at high velocity."

"Oh I see. That's totally different. Case dismissed."

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Re:Theory That Bitcoin Price Is Being Propped Up by kayamon on Thursday February 02, 2023 @07:50PM (#34635624)
How did they not have the collateral? The customers money is the collateral.
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Re:Theory That Bitcoin Price Is Being Propped Up by andirk on Friday February 03, 2023 @05:34PM (#34648749)
It wasn't as nefarious as it seemed at first, but the fact is the systems of investment currently in place do not allow for plebs to manipulate it in their favor. I was only an observer rooting for the common man, but I still have a difficult time seeing Robin Hood as a useful tool when they were not able to execute basic buying of an EFT on an open market.
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