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Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

crypto.robinhood.com

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Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#81

Post by kbutler »

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.

Payday Lending

http://www.pewtrusts.org/en/research-and-analysis/fact-sheet...

"annual percentage rates averaging 391 percent." (That's not a typo)

"Average borrowers earn about $30,000 per year"

"Most borrowers pay more in fees than they originally received in credit "

"each year, spending $9 billion on loan fees. "

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#82

Post by aje403 »

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 think when he said " real-world value created through actual investments " - the underlying idea behind an investment is that you provide capital to someone who is trying to build a business that will hypothetically provide jobs and value to society. Putting money into something and taking more money out is a bastardization of the term in that interpretation. That is simply not the case here - this has simply been a mass wealth re-distribution event. People are basically printing and trading pokemon cards at this point.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#85

Post by sctb »

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".

OK, we've updated the title from “Introducing Robinhood Crypto”.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#87

Post by xanderstrike »

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".

E*Trade and other online brokers are the "rich," with their silly fees and ridiculous limits on when you can take your money out.

Robinhood, by not having fees, takes the stock market from the rich and opens it up to everyone else. IMO it's a great name.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#88

Post by danmaz74 »

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?

In Economics, investment has a different meaning from the common use. I think that's the reason of the misunderstanding.

https://en.wikipedia.org/wiki/Investment_(macroeconomics)

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#89

Post by fra »

I'm disappointed in Robinhood. They've done great work making equity investment approachable to people who are traditionally alienated by it. Their mission, "[...] to democratize the American financial system." caries fantastic social value and generates a lot of good will for them.

Entering cryptocurrencies IMO runs counter to that mission. It's a cash grab which will expose their users to poorly-understood risks and will likely not put anyone on a more stable financial footing.

Re: Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

#90

Post by a13n »

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?

That is an investment! Just a bad one. :P
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