In Speaking of Bitcoin podcast Andreas Antonopoulos make a great point about what Robinhood users short squeeze brings to us. We are a Crypto investors of the new Era, orienting on independent, open censorship resistant financial landscape.
A great things happen when Robinhood rebellions turn on its head an evil game of killing a Gamestop company into oblivion. Robinhooders and other small investors encouraged by Wall Street Bets subredit forum, push the price up.
Hedge funds almost had get burned in it's own game. Melvin Capital, Citron Capital and other hedge funds bite the dust quite a bit (measured in billions), covering their short positions and buying back Gamestop shares driving price even higher.
Only regulatory intervention of prohibiting buying on Robinhood platform imposed by their buddies from the government saved hedge funds from becoming insolvent.
They had have to once again play out an old Wall street Wolves bent rules trick to save their butts.
Here we come to the Andreas point. If bending the rules have been impossible, Hedge funds would be dead in the water.
There is already a system where bending the rules is impossible. This is Bitcoin whit its hard coded rules build in his protocol and its unstoppable trading 24/7 around the clock.
On Bitcoin backyard such a shorting game shall devastate Hedge funds an grind them into a fine powder.
In the Bitcoin market short squeezes are deadly games. Wall Street Bets could be winners on Bitcoin ground but on Wall street ground this financial guerrilla warfare is doomed for failure. This shows all the misery of a traditional financial system that cannot be beaten on its own ground but opting out is maybe wining strategy