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I'm disappointed in Robinhood. They've done great work making equity investment approachable to people who are traditionally alienated by it. Their mission, "[.
by fra 9y ago
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.
- xya3453 9y ago> 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.
- fra 9y agoPoint taken, investing in individual stocks may very well not be helping anyone.
- vasilipupkin 9y agoI take it you didn't buy amazon 10 years ago for a 1600% return?
- jsutton 9y agoOr 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.
- product50 9y agoDon'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.