@TheStalwart While I think overall it's a net negative because it's made it easier for people to gamble (lose) money, I see two net positives if you admit that it was already happening via local bookies & offshore accts.
1) Tax Revenue
2) Much tighter spreads (less vig) = Less losses.
@thestateoflou 23 on FAU, unprompted called Kelsey a "Bitch Ass" as he passed by him, when Kelsey asked "Did you just call me a bitch ass", he responded "Yes sir i Did". Pretty rich coming from him.
I get very flimsy answers to the value of DeFi and NFTs (“web3”). Yes yes gambling is fun and there’s sometimes cool art. But equities in DeFi are illegal. Nobody working on doing home loans or car loans. Just a lot of crypto token shuffling
This is probably a political problem
.@JumpCryptoHQ believes in a multichain future and that @WormholeCrypto is essential infrastructure. That’s why we replaced 120k ETH to make community members whole and support Wormhole now as it continues to develop.
@Dekkarr22 @AlderLaneeggs @TaraBull808 @matt_kohrs@TradesTrey and 2) "dark pool" trading, which are just pools of non-displayed quotes. usually these are private networks run by banks. The largest is UBS. It's likely you get a better execution in a dark pool than you do at a lit market. Your orders probably aren't ending up there.
@Dekkarr22 @AlderLaneeggs @TaraBull808 @matt_kohrs@TradesTrey If you're referencing the high percentage of dark pool prints, understand that it's encompassing two different things. 1) Internalization - This is when a market maker takes the "other side" of your order. This bucket is likely very high in AMC because most trading is retail.
@Dekkarr22 @AlderLaneeggs @TaraBull808 @matt_kohrs@TradesTrey Everything has trade-off's, and PFOF, I believe potentially hurts overall market health at the expense of helping retail traders. It's actually comical that retail wants it banned.
@Dekkarr22 @AlderLaneeggs @TaraBull808 @matt_kohrs@TradesTrey I know, like & use IEX. They don't solve everything you think they do despite what Michael Lewis tells you.
@Dekkarr22 @AlderLaneeggs @TaraBull808 @matt_kohrs@TradesTrey If you are outsizing the inside, they may do some latency arbitrage to "steal" shares, but that's not available to them if you route your order to a MM. Thirdly, you can't take shares at the best bid... you would buy at the best offer.
@Dekkarr22 @AlderLaneeggs @TaraBull808 @matt_kohrs@TradesTrey First off, It will impact price action.. the shares still trade with someone. Just because it doesn't happen on a lit exchange, doesn't mean price action isn't affected. Secondly High Freq algos aren't stealing your shares, especially when you're routing them through retail brkr