spike in transaction fees comes back to earth

GNRForever : Runes was just implemented, you are making a large assumption … Riot earnings in May, are you claiming that they will not have positive significant earnings this quarter? Typical lame short seller trying to convince us of doom and gloom outlook so they can swing trade and buy on the cheap. Scum.

egan1OP GNRForever: short sellers are a positive thing for markets over all they help prevent the formation of bubbles, catch fraud faster than regulators and we sell when the company has no trouble raising capital and buy shares later down the line when many investors are unwilling to leading to lower volatility in markets. and yes i am betting on worse financial performance next quarter as their cost of revenue just got a 25% increase... its a pretty basic trade all things considered.

GNRForever egan1OP: Their cost of revenue is a recent event … this happened a couple days ago … you might have a point maybe 2 or may 1 quarter from now but this quarter there is a zero chance they will not have a giant windfall in earnings.

However, you are totally wrong anyways … they interviewed Riot Platforms CEO and they are able to time the halving so they are ahead of the cost of curve in terms of energy cost by a significant amount … so your conjecture is wrong .. and this is why short sellers don’t add anything to the market as you claim they do.

You can’t sell stocks you don’t own and an investor can also pick up on those things, what mostly short sellers do is they purposely destroy a company for gain at the expense of legitimate long term investors … time and time again … we have seen scum short sellers be proven wrong like in the case of Tesla and Herbalife.

egan1OP GNRForever: first markets are forward looking and we are going to get guidance on q2 next earnings call. and second even if we sold every single share multiple times and pushed it to 0 the company wouldn't go under... we don't control how the company does. We can't force a company into bankruptcy the only time short sellers have any effect on the health of the company is when it's already in such rough shape we make it difficult to raise capital and they go under bc they couldn't get new debt to pay off old debt. once the shares are sold the price has little effect on the health of the company, fundamentals, however, do and miners have bad fundamentals across the board. also electricity cost is not my concern it's depreciation and amortization of the ASICs on their balance sheet.

GNRForever egan1OP: I call bs on your entire reply … Bill Ackman tried for years to bankrupt Herbalife. Short sellers tried for years to bankrupt Tesla? Wtf are you talking about? Miner companies are aware of the economics of the bitcoin market … they have interviewed the CEO of many mining companies including Riot and they can time the halving so they prepare and they don’t assume prices of bitcoin will go up … your entire argument that somehow the cost of energy will bankrupt miners when they already have made arrangements for this event. Forward looking? Earning results will be positive, stocks go up, then you take profits, why are adding 2nd order condition for miners? Because you are have incentive to promote doom and gloom to get investors to sell. Scum.

egan1OP GNRForever: they tried and failed is exactly my point. they literally cannot bankrupt a company by selling shares.... they would benefit if that happened but you wouldn't say a long investor is keeping a company alive would you? like how can you say that its bad for short sellers to advertise their positions but long investor do the same thing by trying to prop up wework plug power whatever bullshit scam company all the time.

egan1OP GNRForever: i mean TODAY we saw meta beat estimates and they're down 11% after hours bc they gave bad guidance. lmao you have very little experience with the market if you think like that.

GNRForever egan1OP: That is not the point … the point is they were not successful in that instance and if they were we wouldn’t see Tesla today! Look at how many investors lost money due to Short Seller unethical tactics until companies like Tesla and Herbalife were able to recover stock value and bring stability and growth to stocks! Short sellers causes lot more damage then any benefit … the purposely try to tank companies by writing fake or biased research reports and embellish bad news. Stock shorters hurt a lot of investors and erode disproportionately too much value given the actual impact of any negative information. In rare circumstances they identify poor run or corrupt companies but those are far and in between.

egan1OP : the share price has no impact on the company's health. idk what you don't understand about that. short sellers have exposed many frauds like Nikola, carl icon and the adani group. saving investors billions. they sell at the top and buy at the bottom decreasing volatility and help stop bubbles like in 2008. this isn't an opinion there's lots of research into this and why it should remain legal.