Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

Post by nlowell » Fri, Jan 26, 2018, 3:10 AM UTC

botskonet wrote: post #270

nlowell wrote: post #179

Earlier quoted context omitted.

I think Robinhood does a great job of giving young traders the experience and knowledge of what actual trading is like before they're managing really meaningful amounts of money. College kids trading $500 on Robinhood are going to become 30 year olds who have a much better sense of how markets work and how emotion affects their own trading than college kids who are just instructed to give all their savings to mutual…

I've been using Stash to invest in some EFTs. I've only put in $50 to date and will put in more since the market is doing well but I did it more as a learning experience. What would be the best way to learn, for someone looking to invest $500+, who's never done much investing before? Outside of ~10 shares of Starbucks stock given to me when I worked there in 2001, this has been my only experience. P.S. Those Starbuck…

Post by almost_usual » Fri, Jan 26, 2018, 5:33 AM UTC

ouid wrote: post #250

almost_usual wrote: post #247

Earlier quoted context omitted.

There are plenty of ways to learn the market without spending money as a day trader on Robinhood. Most financial events are cyclical. Trading really hasn’t changed much since the late 17th century so reading a history book on financial speculation and market cycles would teach you plenty. Another alternative is simulating trades without allocating real liquid to it. Watch how those assets evolve over time.

it's improper to be glib on HN, but did you really just call it "spending"? Regardless, there's a lot to be said for putting actual money down on your beliefs, it has a non-negligible impact on the learning process.

Post by pixie_ » Fri, Jan 26, 2018, 7:52 AM UTC

vec wrote: post #220

pixie_ wrote: post #209

Earlier quoted context omitted.

A bitcoin is as real as anything else. It's ones and zeros stored in a distributed ledger on computers around the world. I'm sorry you're having trouble predicting the price, look up supply and demand. Either way it doesn't make it any less real.

I don't dispute that a Bitcoin is a real, discrete thing. What I'm arguing is that it's a self-contained thing. The price of a Bitcoin is not anchored to anything outside the Bitcoin ecosystem . With other assets, there's a clear causal arrow leading from outside the system back in. If Google the company performs better, Google the stock will overwhelmingly tend to perform better. If Google the company folds, Google…

Post by Bromskloss » Fri, Jan 26, 2018, 3:46 PM UTC

dawhizkid wrote: post #123

Something about Robinhood just makes me uneasy - clearly their main target market is the small retail investor who is sensitive to a $7/trade fee, but the low friction, mobile-first no fee stock trading experience they've created mostly serves to encourage bad investor behavior i.e. emotional, irrational day trading among people who can least afford it. Now they are "democratizing" margin trading (Robinhood Gold), op…

Post by chirau » Fri, Jan 26, 2018, 4:15 PM UTC

verdverm wrote: post #193

chirau wrote: post #124

Earlier quoted context omitted.

You should put better documentation. It's useless without instruction

I found it useful, it's a good start. Perhaps if you had more context about the toolset you would not find the lack of documentation the thing to comment on. Also, there are better ways to engage in communication than leading with negativity.