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

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#41

Post by dguo » Thu, Jan 25, 2018, 4:44 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?

If you asked that question to Warren Buffett, he would probably point you to Benjamin Graham's distinction between investment and speculation:

"An investment operation is one which, upon thorough analysis promises safety of principal and an adequate return. Operations not meeting these requirements are speculative."

http://buffettpedia.com/2017/08/investment-versus-speculatio...

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#42

Post by tannerwj » Thu, Jan 25, 2018, 4:45 PM UTC

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".

Because Robin Hood gave back the money the rich stole from the poor. It is just a way to level the playing field

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#43

Post by thaumaturgy » Thu, Jan 25, 2018, 4:45 PM UTC

nxsynonym wrote: post #35

loup-vaillant wrote: post #32

The web page reads: "Invest in Bitcoin & other cryptocurrencies". Can someone change the title to better match the web page? "Crypto" is a bit confusing without "currency".

The domain is crypto.robinhood.com and the website title is "Robinhood Crypto". Title is perfectly accurate.

I was expecting a new cryptographic library and/or algorithm, and was looking forward to 33 highly technical comments about how it compared to ECDSA or something.

I suppose I should've known better.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#44

Post by lettergram » Thu, Jan 25, 2018, 4:46 PM UTC

dylanha wrote: post #28

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.

Use the code: pigletbeta3 for 6 months free access, provided you give feedback at least once a month.

It doesn't have that same issue you describe.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#45

Post by Lewton » Thu, Jan 25, 2018, 4:46 PM UTC

tannerwj wrote: post #36

tptacek wrote: post #30

Earlier quoted context omitted.

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?

Because it is not luck that determines the outcome. However speculative Bitcoin is, it isn't based on luck

How can you tell?

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#46

Post by nxsynonym » Thu, Jan 25, 2018, 4:47 PM UTC

thaumaturgy wrote: post #43

nxsynonym wrote: post #35

Earlier quoted context omitted.

The domain is crypto.robinhood.com and the website title is "Robinhood Crypto". Title is perfectly accurate.

I was expecting a new cryptographic library and/or algorithm, and was looking forward to 33 highly technical comments about how it compared to ECDSA or something. I suppose I should've known better.

Yeah not saying it's a good choice on their part as it helps perpetuate the conflation between crypto and crypt-currency.

Unfortunately this will be another case of literally/figuratively.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#47

Post by tannerwj » Thu, Jan 25, 2018, 4:47 PM UTC

tptacek wrote: post #38

tannerwj wrote: post #36

Earlier quoted context omitted.

Because it is not luck that determines the outcome. However speculative Bitcoin is, it isn't based on luck

Because...?

Because it is based on supply and demand, it's just more volatile than what you're used to. Doesn't make it luck

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#48

Post by fileeditview » Thu, Jan 25, 2018, 4:48 PM UTC

chaboud wrote: post #39

tptacek wrote: post #30

Earlier quoted context omitted.

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?

By the way, given sufficient demonstrated counting ability and savvy, I would be willing to invest in a blackjack team. And it's worth noting that people do invest in currency. It is not merely an exchange vehicle.

Because "real" currencies are tied to an economy?

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#49

Post by darawk » Thu, Jan 25, 2018, 4:49 PM UTC

tptacek wrote: post #30

DerfNet wrote: post #27

Earlier quoted context omitted.

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?

A better question might be: How is anything an investment? If the stock market is priced efficiently, it is as much a gamble as Bitcoin. The stock market is of course not perfectly efficient, but it is likely extremely efficient relative to the knowledge of your average retail investor. Which means that buying Bitcoin or other cryptos is no more a gamble than any stock market investment with a similar volatility.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#50

Post by Artemis2 » Thu, Jan 25, 2018, 4:49 PM UTC

tannerwj wrote: post #36

tptacek wrote: post #30

Earlier quoted context omitted.

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?

Because it is not luck that determines the outcome. However speculative Bitcoin is, it isn't based on luck

Right, it’s based on market manipulation.