Not sure whether you guys heard about this but it seems that WallStreetBets is aiming to get into Crypto as well. Yes those guys that supposedly destroyed those Wall Street types who shorted the GameStop stock is now looking to “educate” others about Crypto as well. Which I am guessing is considered the “smaller guys” when compared to traditional stock market and financial institutions. Of course I love it that they helped destroy those Wall Street investors and it was fun while it lasted. I mean who doesn’t like to give it to the man right? For the first time the retail investors didn’t get “rekted”. It was the those hedge fund managers and institutions. And it is not like those Wall Street types care about the company or anyone else for that matter, they are there to make money at the expense of others. So why can’t others do it to them? And this time it is not some financial guru or some famous celebrity but all the regular Joes like you and me. It is(was) pretty cool. For those who don’t know, it actually used to be a place for investors to show off their portfolios and gains.
With that said, I am not a fan of what WallStreetBets have become. What started out as a small crowd coming together to protect something which they like (or even maybe just due to nostalgia) they have become some sort of a wild beast crawling at everything and anything. Just go to the reddit and you will realize that it is a collection of people with all sorts of different agendas and different mindset. Again of course I am not saying that it is wrong or even bad to have different ideas and thoughts but that is not what WallStreetBets should be about. While I enjoy reading memes and all the fun stuff, sometimes if things goes too far there will bound be to people who get “rekted” along the way. Some of which are regular retail investors like you and me. Yes the moderators do seem to do a good job in ensuring that such things do not go overboard but as you know, once you become famous…..
Anyway it seems that there is a subreddit for Cryptos now. They used to allow discussions on the major cryptocurrencies but not others. Now they have one dedicated to just cryptocurrencies. So if you are interested, you might want to check it out here. There are a number of other crypto reddit pages but those are not the official subreddit by the same people. But as with any forum on the Internet, do take comments with a pinch of salt. And we are talking about the Cryptosphere here. There are tons of scammers and tricksters in this industry. And with these kind of losses and gains we see in the crypto market daily, do you think it is a good idea to have such a group targeting Cryptos?