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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

#501

Post by shrimpx »

bagacrap wrote: post #427
shrimpx wrote: post #370

Earlier quoted context omitted.

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).

To cover their short position at a huge loss, funds would have to sell their long positions, which is basically a big sell-off. That may be just temporary. But in a deep bubble it could trigger a mass selloff and a recession.

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

#502

Post by worker767424 »

x3iv130f wrote: post #343
worker767424 wrote: post #202

Earlier quoted context omitted.

Throwing this out there, too: assorted government restrictions and lockdowns imposed by regional public health officials. The early ones were more justified because we knew less, but as the pandemic drug on, the burden of proof justifying closures needed to increase, and legislators needed to step up and legitimize the policies. It's like how the president can wage war for 90 days, but then has to get approval from c…

The closures were tied to ICU overflow capacity which seems a reasonable policy to me. Unfortunately what and how things were closed seemed haphazard and not entirely justified or communicated effectively. There should have been more contact tracing and a focus to close only areas prone to spreading Covid-19.

It's not about reasonableness as much as it's about officials enacting the policy unilaterally. Twitter disabling Trump's account might be reasonable, but it was a pretty unilateral decision.

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

#503

Post by x86_64Ubuntu »

alangibson wrote: post #80

One of the good things I see coming out of Robinhood blocking trading, Twitter and Reddit booting problematic users, Parler getting vaporized, etc. is a sudden realization amongst people of just how easily major parts of their lives can be instantly turned off by intermediaries. My hope is that this will drive a reformist movement around digital rights (speech, commerce, etc.) As well as a movement from platforms to…

I don't think any of the services you've cited are considered "major" services by any stretch of the imagination.

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

#504

Post by jackfoxy »

abstractbarista wrote: post #326
jackfoxy wrote: post #203

Most of the other brokerages (Schwab, Etrade, and TD Ameritrade, but NOT Fidelity and Vanguard according to the reports I am getting) are participating. According to the rumor on Reddit https://www.reddit.com/r/ClassActionRobinHood/comments/l723k... the call came from the White House.

Schwab made GME non-marginable on 1/13. You can buy GME with your own settled cash on Schwab just fine. It has been tested.

Confirmed by the person who originally reported about Schwab to me.

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

#506

Post by Majestic121 »

x86_64Ubuntu wrote: post #503
alangibson wrote: post #80

One of the good things I see coming out of Robinhood blocking trading, Twitter and Reddit booting problematic users, Parler getting vaporized, etc. is a sudden realization amongst people of just how easily major parts of their lives can be instantly turned off by intermediaries. My hope is that this will drive a reformist movement around digital rights (speech, commerce, etc.) As well as a movement from platforms to…

I don't think any of the services you've cited are considered "major" services by any stretch of the imagination.

Yes, they are considered major services by a lot of people.

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

#507

Post by andybak »

rlayton2 wrote: post #288
alangibson wrote: post #173

Earlier quoted context omitted.

I was thinking more about being able to trade online, not GME specifically. TBH 'protocols not platforms' has become kind of a slogan lately, but history doesn't make it look too promising. Email is a protocol, but it has largely been dominated by Google. A really compelling product can capture a protocol.

True but I just migrated my email away from gmail due to "general google worries" and most colleagues dont realise Ive changed and continue to email me

Set up a redirect for a year or so.

In future use a domain you own as the email address and redirect to your email provider.

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

#508

Post by lovehashbrowns »

bagacrap wrote: post #419
mantap wrote: post #372

Earlier quoted context omitted.

It's a bubble. Bubbles pop. Robinhood's argument would be that they prevented harm to investors by preventing them from putting money into a bubble that was going to pop anyway. As soon as this hit the news you got all kinds of regular people wanting to get in on the action, not connected to WSB.

they are the ones trying to pop the bubble. Stop pretending like RH is trying to protect retail, only institutions are benefiting from this.

Bubbles pop all the time, and retail investors get fucked hard each time. Remember the housing bubble in 2008? How many people got foreclosed on? Did they have a Robinhood app to protect them? Absolutely not. Melvin Capital owns billions of dollars, it's not allowed to get fucked hard. Robinhood users, on the other hand, have access to a couple million at most. That's poor people levels of money. There are no golden parachutes for poor people.

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

#509

Post by Zak »

slg wrote: post #314
worik wrote: post #291

Earlier quoted context omitted.

Please do not use the word "anarchy" as a synonym for "chaos". Anarchy is the opposite of chaos

What distinction are you trying to make here? A completely open protocol with no single controlling entity would not be inherently beholden to government control or laws like a platform would be. It can result in the distribution of illegal content such as child porn. How is this not an example of potential anarchy?

Email is an open protocol. If I send an email that's illegal, say death threats or child porn, the government can put me in jail. There doesn't need to be a single controlling entity for that to work.

The process of doing that involves investigation, subpoenas, and warrants, and is subject to laws created in a more or less democratic process. No part of it requires anyone to prevent me from sending illegal emails, just an apparatus to punish me if I do.

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