Robinhood Crypto – Invest in Bitcoin and other cryptocurrencies

Re:Robinhood Crypto – Invest in Bitcoin and other cryptocurr... by fra on Thursday January 25, 2018 @12:15PM (#16232491)

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.

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Re:Robinhood Crypto – Invest in Bitcoin and other cryptocurr... by xya3453 on Thursday January 25, 2018 @12:29PM (#16232623)

> 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.

That's already the case. Their entire user-base is comprised of naive stock market investors. If they really wanted to bring about a more stable financial footing for their users they would just offer dressed-up ETFs.

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Re:Robinhood Crypto – Invest in Bitcoin and other cryptocurr... by fra on Thursday January 25, 2018 @12:34PM (#16232687)

Point taken, investing in individual stocks may very well not be helping anyone.

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Re:Robinhood Crypto – Invest in Bitcoin and other cryptocurr... by vasilipupkin on Thursday January 25, 2018 @04:35PM (#16234904)

I take it you didn't buy amazon 10 years ago for a 1600% return?

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Re:Robinhood Crypto – Invest in Bitcoin and other cryptocurr... by jsutton on Thursday January 25, 2018 @12:29PM (#16232624)

Or they want to offer their customers a no-fee way of buying cryptocurrencies as easily as stocks? I think this is a great move by them. There's no question that a growing number of investors are demanding access to Bitcoin and Ethereum.

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Re:Robinhood Crypto – Invest in Bitcoin and other cryptocurr... by product50 on Thursday January 25, 2018 @05:48PM (#16235464)

Don't use it if you don't want to. But literally millions of American citizens are getting into crypto right now (looking at Coinbase's numbers). And if this is an emerging area, I don't see any problems with them coming in.

I feel most negative comments on this thread are from folks who missed the crypto train last year and are just bitter and trash any new development in this area.

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