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A comment on Robinhood S-1 IPO. Parent comment

Re:Robinhood S-1 IPO by caymanjim on Thursday July 01, 2021 @02:30PM (#27702649)
What's most ridiculous about this level of crypto trading volume on Robinhood is that you don't even own the crypto you trade there. You can't use your own wallet, you can't transfer it to your own wallet. Robinhood holds it; you're just gambling on their holdings.
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Re:Robinhood S-1 IPO by j79 on Thursday July 01, 2021 @02:56PM (#27703000)
It also speaks volumes about "crypto" these days. The vast majority of folks I know treat crypto as an investment opportunity (albeit, a highly speculative one). They're not concerned about blockchain technology or decentralized finance.

Robinhood is the perfect platform for them - There's no need to "swap" tokens or sign up with exchanges. For the most part, RH just "works".

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Re:Robinhood S-1 IPO by iso1631 on Thursday July 01, 2021 @02:55PM (#27702982)
That's not ridiculous, that's the primary purpose of crypto
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Re:Robinhood S-1 IPO by elliekelly on Thursday July 01, 2021 @02:42PM (#27702808)
It really irks me because “owning” it in that way flies in the face of cryptocurrency’s supposed raison d’être: anonymous decentralized currency. Dogecoin held at RH is none of those things.
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Re:Robinhood S-1 IPO by DSingularity on Thursday July 01, 2021 @02:54PM (#27702967)
What remains of cryptocurrency ethos? It’s all about the value today.
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Re:Robinhood S-1 IPO by mym1990 on Thursday July 01, 2021 @02:59PM (#27703056)
You could argue that it isn't even about the value, but simply the price.
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