Live data from Hacker News

Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

crypto.robinhood.com

51–60 of 317 posts

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#51
post #28

Earlier quoted context omitted.

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.

Cool, I'll check it out

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#53
It will be interesting to see how they allow people to fund their accounts. With their traditional investments, they have to follow tradional rules with respect to credit. But a more "accessible" and leveraged model like Coinbase, would be a stark departure from their normal modes of operation.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#54
post #27
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?

Investing connotes some kind of exchange for rights, usually equity. When you invest in say APPL, you are buying a stake of the company. Bitcoin, like the $US or € doesn't make anything. Bitcoin is not an investment, you're just speculating that it's exchange value will rise.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#55
post #24

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?

I don't think they are making the market themselves, but my understanding is they are paid for order flow from those who do. I can only imagine the data is worth quite a bit too, assuming their EULA allows them to sell it.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#56

Related, kinda: Robinhood seems to be pulling in a lot of different directions and there's all these "early access" features that never seem to actually, well, launch. I've now signed up for: * Web access (otherwise it's mobile-only) * Options trading * And now, cryptocurrency trading (because why not) and I haven't gotten access to any of them yet, even though Robinhood for web has been in "early access" for quite a…

I'm really confused about why web access hasn't launched yet? Would think that is the easiest of them all and entirely in their own fate. Options and crypto seem like much more complicated endeavors but a website, ffs.

people will not spend more money trading on a website. not having one is an inconvenience. options and crypto are more places for people to put their money

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#57
post #27
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?

There is no value created in exchange for your money down.

It's just betting that the value will change arbitrarily (or through manipulation).

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#58
post #49
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?

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.

A perfectly efficient market can still have investment opportunities with nonzero expected gains, as long as there's a shortage of capital.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#59
post #27
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?

That's speculation not an investment.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#60
post #49
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?

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.

If the market is priced perfectly efficiently you will still make money because your capital is put to work. A perfectly efficient market just means you can't beat that intrinsic rate of return.
Post reply on HN