A quick comparison of GME to Overstock (OSTK)

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Here is a reddit post, and my commentary afterwards:

Everyone is comparing the split to Tesla, and entirely missing the real comp- Overstock. This has always been about Overstock. RC bought in to GME right after overstock proved out the concept to end naked shorting.

Here’s what is going to happen- here soon the company is going to announce that the shares they are providing via dividend will be in the form of tokenized securities and delivered to the new GameStop wallet on the nft marketplace.

Your existing shares will stay wherever they are and continue to be tradeable via your brokerage on analog exchanges.

Your new shares will be tradeable on GameStop’s own marketplace only.

Brokers can’t pay you cash in lieu of a tokenized security. Shorts can’t provide fake shares and then just FTD them endlessly.

If you are DRS’ed, Computershare gets you your tokenized shares immediately.

If you aren’t, your broker likely can’t provide you shit because there aren’t enough tokenized securities in existence to provide you them.

Shorts now have two options- they either buy all the fake shares back out of brokerages to clear their obligation to provide tokenized shares. Or they try to buy tokenized shares for the shorts on their books. Either way, it’s forced buying of GME and moass.

This is exactly how Overstock did it, and they set important precedence in lawsuits that they won.

Hedgies r fuk. DRS if you want to get what will become the most in demand digital property in history delivered to you.

Edit since this gained some traction- I want to highlight one other thing because I think it’s super important. For awhile I’ve wondered why RC didn’t just partner with overstock/TZero to issue tokenized securities.

The answer is now very obvious. TZero just hired a new CEO. The guy was a top exec at the NYSE and a board member of the DTCC. TZero is centralized. Basically, the wolves are taking over that hen house.

RC and loopring as we know are fully decentralized.

RC knows the way, and this is the way.

~ * ~ * ~ * ~

Now the commentary. This is certainly valuable info, but RC announced increase of existing type of shares (common class A) from 300M to 1B. So the issuance will be in the same type of shares as already exist – that’s closer to TSLA than to what OSTK did.

Still though, OSTK is a very, very important precedent for us. Very much worth studying.

Furthermore, speculatively, I believe the entire financial industry (and definitely NYSE, that corrupt and hideous structure) will re-base themselves on top of a blockchain solution, where fraud such as naked shorting is if not impossible, then much much less likely (ideally impossible).

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