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Robinhood now has a 1-Star rating on the Google Play Store

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Re: Robinhood now has a 1-Star rating on the Google Play Store

#421

Post by asenna »

sushisource wrote: post #339
zionic wrote: post #205

Earlier quoted context omitted.

DeFi is a core component of my ETH bull hypothesis. All this decentralized activity requires the purchase of ETH to pay for/transact on.

It requires some way to fund it, but that needn't necessarily be ETH. It also well could be, and they have first mover advantage. But, and it's a big but, I think the most important thing people who know much about crypto forget is: Other people are not like you. Most people have still never even heard of Etherium. Most people won't touch something like that without explicit approval from a government. Which, obvious…

> Most people have still never even heard of Ethereum

This statement was true in 2016, 2018 and 2021. The difference being the momentum - a LOT more people have heard of Ethereum now than back then. I think you might be underestimating the network effect that Ethereum has in the space. All the tooling, beginner-friendly tutorials/books/blogs, institutions and funds flowing into the projects, the sheer number of people working on projects is super impressive.

For anything else to catch up with Ethereum, it's going to take a lot more than "being better technologically". Ethereum currently does have major scaling issues but the community is converging on the "rollups" Layer-2 solutions [1] as a temporary option until it gets added into Eth2. So I suspect the next few months will be a little rough but things like Matic.network or Optimism will start maturing.

[1] https://ethereum-magicians.org/t/a-rollup-centric-ethereum-r...

Re: Robinhood now has a 1-Star rating on the Google Play Store

#422

Post by bagacrap »

xxpor wrote: post #368
dheera wrote: post #76

Earlier quoted context omitted.

This is not mobbing the ratings. They did something bad, and they are getting bad reviews for it. The review system is working as intended.

I don't have a problem with this specific case , I'm thinking of, for example, users of 2 different apps having a war with each other and going in and leaving negative reviews for the other app.

well since that's a totally different scenario it's weird that you bring it up in this thread.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#423

Post by Igelau »

thisiscorrect wrote: post #252
daenz wrote: post #159

Earlier quoted context omitted.

At the risk of sounding like an "I told you so" type of person, it is frustrating to speak out and see others speak out about future consequences of these kinds of actions, only to be drowned out by people liberally applying the slippery slope fallacy argument.

I've never understood how a slippery slope argument is a fallacy, let alone a logical fallacy (like false syllogism or no true scotsman). The idea is essentially looking at current trends and extrapolating into the future. No prediction is necessarily correct, but it's not necessarily wrong either.

It's not a fallacy. It's more like a "logic smell" that means you should look closer to see if the arguer is jumping to conclusions. If they are you should still investigate, e.g. the chain of events they are describing may have actually happened in history or could be related from personal experience. Affording them merit based on that is probably questionable in terms of formal logic, but it might not be unwise.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#424

Post by tome »

nightowl_games wrote: post #164
ritchiea wrote: post #156

Earlier quoted context omitted.

I've been reading WSB since yesterday and while I understand the outrage about blocking trading. They started blocking trading with $GME trading in the $400's, and a slew of redditors on WSB, Discord & Telegram pushing penny stocks. It started out a crusade against the hedge fund shorting $GME and quickly turned into rallying dumb money to pump and dump penny stocks. Looking at the direction things were going it seem…

> Robinhood acted responsibly No. This is against the Free Market hypothesis. We are supposed to let the Dumb Money get into the market, fail out and learn their lesson.

What's the Free Market hypothesis?

Re: Robinhood now has a 1-Star rating on the Google Play Store

#425

Post by silexia »

vga805 wrote: post #410
silexia wrote: post #378

Earlier quoted context omitted.

This will probably be my least popular post ever, but the explanation needs to get out there for why Robinhood stopped trading on GME. Selling a stock short is NOT illegal. It is a perfectly valid type of investment according to the SEC: “D. Are short sales legal? Although the vast majority of short sales are legal, abusive short sale practices are illegal. For example, it is prohibited for any person to engage in a…

Wrong. The bull case was made for GME as far back as late 2019, and it gained momentum this year. Nothing different than Jim Cramer talking up a stock on CNBC every fucking night. Edit: I know this because I watched a youtube video from a popular redditor named deepfuckingvalue a few weeks ago and bought into the thesis fully as a value investment. He goes under the name RoaringKitty on youtube. I lost multiple years…

I am sorry to hear about your losses, but that does not disprove my explanation. I also am a member of WSB and read all the top posts. I think most of them make the argument to hold the position as a short squeeze is coming, and very few of them argue the stock is truly worth a ton of money. Very few people actually believe a company that sells video games the same way Blockbuster sold movies has a lot of potential.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#426

Post by StillBored »

valuearb wrote: post #406
StillBored wrote: post #365

Earlier quoted context omitted.

For the cynics like myself. The lack of action on the part of the government to restrict and hold corporations to the same level as the government is supposedly held by the constitution seems intentional. Its a backdoor way around the constitutional restrictions. AKA the government can't restrict free speech or search your house everyday, but its going to allow everyone else to restrict and search your house for the…

No one is restricting anyone’s speech or searching their house. Sorry that you can’t force other people to host your thoughts tho, sounds so frustrating.

Really, where do you live?

Because where I live the government via corporations is scraping up "metadata" which includes people's web cams feeds, phone records, etc. AKA searching their house. And if you haven't been paying attention, as despicable as the speech is, political "speech" is being suppressed by large tech and media companies, and to a lesser extent what people actually say in public spaces, be that the library or the workplace.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#427

Post by bagacrap »

shrimpx wrote: post #370
Aperocky wrote: post #350

I feel like this action from Robin Hood saved a lot of retail trader from self harm. A lot of people are clinging to the hope that whatever came out of shorts covering their position being false. Whereas given the volume of the previous days it's highly likely they've already gone. Whoever goes in at this point is likely going to end up losing everything.

More importantly it saved hedge funds like Melvin and Citadel form self-harm. They aggressively shorted these stocks into the ground, looking to make billions. If the prices stay up or keep going up, they stand to lose billions and even go out of business. If you look at r/wallstreetbets, only a few people seem to have invested more than a couple of tens of thousands. The guy who came up with this idea to profit off…

how would that cause a crash? Retail (and less shady institutions) will buy more aapl when it dips and all that's happened at the end of the day is a big transfer of wealth from institutions to retail (and less shady institutions).

Re: Robinhood now has a 1-Star rating on the Google Play Store

#428

Post by thestu »

silexia wrote: post #378
shrimpx wrote: post #345

Earlier quoted context omitted.

I have a bit of knowledge from friends who work in fintech, and the sentiment among fintech companies seems to be that SEC doesn't matter. The fine is small and comes way too late. You can simply account for an approximate future fine and move forward with your shady business.

This will probably be my least popular post ever, but the explanation needs to get out there for why Robinhood stopped trading on GME. Selling a stock short is NOT illegal. It is a perfectly valid type of investment according to the SEC: “D. Are short sales legal? Although the vast majority of short sales are legal, abusive short sale practices are illegal. For example, it is prohibited for any person to engage in a…

Assuming this is all true, it still just feels like they're picking winners, which is probably the thing that's going to matter more than anything else going forward. People can and will point to a laundry list of rules violations by institutional investors (is a 140% short of a stock completely and unambiguously within the rules?) that show the hypocrisy of the little guy getting screwed.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#430

Post by Igelau »

MockObject wrote: post #331
thisiscorrect wrote: post #252

Earlier quoted context omitted.

I've never understood how a slippery slope argument is a fallacy, let alone a logical fallacy (like false syllogism or no true scotsman). The idea is essentially looking at current trends and extrapolating into the future. No prediction is necessarily correct, but it's not necessarily wrong either.

When you do it, it's the slippery slope logical fallacy. When I do it, it's logical induction, a necessary component of reasoning about the world.

> logical induction, a necessary component of reasoning about the world

Bah! You're only saying that because induction worked the last n times ;)

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