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A comment on Robinhood denies claims that it sold GameStop shares out from under its traders. Parent comment

Re:Robinhood denies claims that it sold GameStop shares out ... by kllrnohj on Friday January 29, 2021 @05:40PM (#25963737)
> Complicated enough that it took the invention of Bitcoin to take it out of the bankers hands and move it to the digital realm.

That's not at all what bitcoin does or helps with.

Settlement is not complicated. ACH is complicated, but ACH isn't just settlement. Bank to bank wire transfers are just settlement, and are regularly same-day (even same-hour) with immediate fund availability.

Hell, FedWire has been doing real-time near-instant moving of money between accounts since 1920 https://en.wikipedia.org/wiki/Fedwire

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Re:Robinhood denies claims that it sold GameStop shares out ... by lupire on Friday January 29, 2021 @08:35PM (#25965124)
Imagine if making a bank transfer was as east as sending a spam email.

FedWire works because those banks work very hard to trust each other.

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Re:Robinhood denies claims that it sold GameStop shares out ... by adamjb on Friday January 29, 2021 @09:05PM (#25965283)
Europeans and Australians [0] don't have to imagine. I can literally do a bank transfer to an email address.

[0] non-exhaustive list

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Re:Robinhood denies claims that it sold GameStop shares out ... by throwaheyy on Friday January 29, 2021 @11:23PM (#25966017)
That’s not the same as what parent comment was suggesting. You can’t send money to literally anyone using only an email address. You and the recipient still have to have regular bank accounts within the settlement system. The email address only serves as a more friendly identifier than the account number.
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Re:Robinhood denies claims that it sold GameStop shares out ... by adamjb on Saturday January 30, 2021 @02:38AM (#25967121)
I should've been clearer: as long as the recipient has linked their email and/or mobile to their account (via PayID) settlement is instant and their email/mobile number can be used to address transfers
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