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Correct me if I'm wrong as I can't use their platform, but Robinhood doesn't act as a bank and mercantile payment processor do they? They only do trading. Coinb
by jimmydorry 6y ago
Correct me if I'm wrong as I can't use their platform, but Robinhood doesn't act as a bank and mercantile payment processor do they? They only do trading. Coinbase does all the things I mentioned and more.
GP was probably expressing concern that it may be possible for Coinbase to be wiped out in bad leverages which would affect people that don't trade at all.
- gruez 6y agoIs that any different than bank of america operating a retail bank and a brokerage platform (Merrill Edge[1])? [1] https://www.merrilledge.com/investing/margin-trading https://www.merrilledge.com/investing/margin-trading
- judge2020 6y agoRH created 'cash management' that came with a debit card, but the exploit was exposed (and patched) before that was available to everyone, but even then you'd have to find an exploit where spending money via the debit card doesn't do the same sanity checks as withdrawing. 0: https://news.ycombinator.com/item?id=18672951 https://news.ycombinator.com/item?id=18672951