Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies • Hacker News Board

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#21

Post by [deleted] » Thu, Jan 25, 2018, 4:33 PM UTC

CodeSheikh wrote: post #5

Nice TRON-esque theme. TRON as in the classic arcade game/movie not the TRON crypto currency.

[deleted]

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#22

Post by xya3453 » Thu, Jan 25, 2018, 4:34 PM UTC

> Invest in Bitcoin & other cryptocurrencies

> Cryptocurrencies, stocks, ETFs, and options are now available side by side — all easily accessible in one app. Managing your investments just got even easier.

There is a dangerous theme of companies aimed at millennials that misappropriate Bitcoin (etc) as an investment, when it is just glorified currency exchange speculation. Blurring these lines obscures the real-world value created through actual investments.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#23

Post by arethuza » Thu, Jan 25, 2018, 4:36 PM UTC

rublev wrote: post #7

trothamel wrote: post #3

I wonder what the thinking behind the name is. It seems like a bad idea to entrust your money to a startup that is named for someone who's famous for "stealing from the rich".

If you have any branding ideas for "stealing from the poor" that will get those poor to use it, I'm all ears.

Lotteries?

[I remember the UK National Lottery being described as a "tax on stupidity"]

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#24

Post by cal5k » Thu, Jan 25, 2018, 4:37 PM UTC

My assumption here is that by "no-commissions" they mean that they're only making the bid/ask spread on transactions as a market maker?

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#25

Post by cwperkins » Thu, Jan 25, 2018, 4:38 PM UTC

013a wrote: post #17

cwperkins wrote: post #10

Does anyone know what happens in the event that a brokerage like robinhood fails? Are the assets insured by a federal agency or is it wiser to switch my portfolio to another broker?

All of the assets you have in Robinhood aren't actually held by Robinhood; they're held by Apex, which is a huge firm that many companies use. If Robinhood goes down, your assets are still with them and there'd be some reasonable way to transfer them to another brokerage. If Apex goes down, which is vastly more unlikely, Federal SIPC insurance kicks in up to $500,000.

Thanks, that's useful information

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#26

Post by cwperkins » Thu, Jan 25, 2018, 4:38 PM UTC

jlgaddis wrote: post #16

cwperkins wrote: post #10

Does anyone know what happens in the event that a brokerage like robinhood fails? Are the assets insured by a federal agency or is it wiser to switch my portfolio to another broker?

Read the small print at the bottom of the page? > Robinhood Financial is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC) ... > Robinhood Crypto is not a member of FINRA or SIPC. Cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC insurance.

Thank you

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#27

Post by DerfNet » Thu, Jan 25, 2018, 4:38 PM UTC

xya3453 wrote: post #22

> Invest in Bitcoin & other cryptocurrencies > Cryptocurrencies, stocks, ETFs, and options are now available side by side — all easily accessible in one app. Managing your investments just got even easier. There is a dangerous theme of companies aimed at millennials that misappropriate Bitcoin (etc) as an investment, when it is just glorified currency exchange speculation. Blurring these lines obscures the real-world…

I buy bitcoin, it changes in value, I cash out, I now have a different amount of money than I put in. How is that not an investment?

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#28

Post by dylanha » Thu, Jan 25, 2018, 4:39 PM UTC

lettergram wrote: post #12

If anyone is interested, my company is working on an investment advisor for cryptocurrencies (and stocks): https://projectpiglet.com/ It works very well for short-term trading on cryptocurrencies, still waiting to release the longer term strategy (buy and hold is honestly a great choice). We've just started revewing some of the results (since we launched last week), and we're already up stagaring amounts: https://blo…

Anyone trading with a rangebound bot will have made money in the last two weeks with these stagnant prices. The heavy regret for me set in later when my rangebound bot sold Litecoin and Ethereum before they tripled.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#29

Post by Radle » Thu, Jan 25, 2018, 4:39 PM UTC

lewisflude wrote: post #13

Is there a UK equivalent for Robinhood? Would be extremely keen to give it a go.

Bux? Allows trading a bunch of European and US CFDs. Also allows buying CFDs on Bitcoin. Unfortunately not on any other cryp currencies.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#30

Post by tptacek » Thu, Jan 25, 2018, 4:39 PM UTC

DerfNet wrote: post #27

xya3453 wrote: post #22

> Invest in Bitcoin & other cryptocurrencies > Cryptocurrencies, stocks, ETFs, and options are now available side by side — all easily accessible in one app. Managing your investments just got even easier. There is a dangerous theme of companies aimed at millennials that misappropriate Bitcoin (etc) as an investment, when it is just glorified currency exchange speculation. Blurring these lines obscures the real-world…

I buy bitcoin, it changes in value, I cash out, I now have a different amount of money than I put in. How is that not an investment?

I put money down on a blackjack table, play a hand, win, and cash out with more money than I put in. How is that not an investment?