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It’s pretty hypocritical for a casino to say that you are welcome to keep playing our table games and lose your money to us slowly but you aren’t allowed to sit

It’s pretty hypocritical for a casino to say that you are welcome to keep playing our table games and lose your money to us slowly but you aren’t allowed to sit down at that table full of poker sharks because we are worried you’ll lose your shirt.

mrguyorama 6y ago
Casinos LITERALLY do this though, with segregated/exclusive higher stakes games. You only get to play the ultra high stakes poker if you set it up yourself or get invited
- llampx 6y ago
  Well in this case I think the gamblers are going to take all their business elsewhere if the casino doesn't change its ways.
- 42_ 6y ago
  That is fine, if it is done before the play begins. What's happening here is being kicked out of the game when you're winning.
  - sokoloff 6y ago
    Who's getting kicked out while they're winning? No one holding GME is having their holdings seized. No one holding GME is prevented from selling (by Robinhood; periodic circuit breakers do inject halts for everyone during periods of high volatility/price movement, which are rules set in place before [this] play began) No one is prevented from opening an account at the many dozen other brokerages who are happy to transact in GME.
    - unethical_ban 6y ago
      Your take is so wrong. There is friction in opening accounts, funding it, etc. If all your investment money is in RH, it takes a week to move money out. And the simple fact that millions of people on RH are locked out of buying totally fucks the people holding the stock. "You can sell but not buy"? Who is buying? The institutions. Do not attempt to justify this.
      - warkdarrior 6y ago
        RH is a business and can make their own decisions. If you are not happy with how they service you as a client, you can take them to court. They do not owe you anything more than what's in the contract you have with them.
    - piva00 6y ago
      What about people that already lost money because of this movement? On the other side, on the sell side there might be lots of people who were holding waiting for a higher price that was driven down by the blocking of new purchases, cratering their gains. Is that right by the rules of the game?
tim333 6y ago
The stockmarkets aspire to be more than a casino and actually a way for people to invest money and productive enterprises to raise it. If you want a casino try crypto.
- bradleyjg 6y ago
  I don’t think that’s the case, but even if it is for the stock markets broadly it isn’t for Robinhood. It’s not vanguard.

mrguyorama 6y ago

Casinos LITERALLY do this though, with segregated/exclusive higher stakes games. You only get to play the ultra high stakes poker if you set it up yourself or get invited

llampx 6y ago
Well in this case I think the gamblers are going to take all their business elsewhere if the casino doesn't change its ways.
42_ 6y ago
That is fine, if it is done before the play begins. What's happening here is being kicked out of the game when you're winning.
- sokoloff 6y ago
  Who's getting kicked out while they're winning? No one holding GME is having their holdings seized. No one holding GME is prevented from selling (by Robinhood; periodic circuit breakers do inject halts for everyone during periods of high volatility/price movement, which are rules set in place before [this] play began) No one is prevented from opening an account at the many dozen other brokerages who are happy to transact in GME.
  - unethical_ban 6y ago
    Your take is so wrong. There is friction in opening accounts, funding it, etc. If all your investment money is in RH, it takes a week to move money out. And the simple fact that millions of people on RH are locked out of buying totally fucks the people holding the stock. "You can sell but not buy"? Who is buying? The institutions. Do not attempt to justify this.
    - warkdarrior 6y ago
      RH is a business and can make their own decisions. If you are not happy with how they service you as a client, you can take them to court. They do not owe you anything more than what's in the contract you have with them.
  - piva00 6y ago
    What about people that already lost money because of this movement? On the other side, on the sell side there might be lots of people who were holding waiting for a higher price that was driven down by the blocking of new purchases, cratering their gains. Is that right by the rules of the game?

tim333 6y ago

The stockmarkets aspire to be more than a casino and actually a way for people to invest money and productive enterprises to raise it. If you want a casino try crypto.

bradleyjg 6y ago
I don’t think that’s the case, but even if it is for the stock markets broadly it isn’t for Robinhood. It’s not vanguard.