DaRude
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Activity: 2869
Merit: 1859
In order to dump coins one must have coins
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February 02, 2021, 08:35:12 AM Merited by JayJuanGee (1) |
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Wow whole 3% APY and they don't even guarantee your money, where do i sign up (not). If everyone began to send their coins to these institutions wouldn’t that enable the market manipulators to open larger short positions since there would be more BTC available to borrow? This in turn would mean that “they” would be able to push the market down harder and faster. If everyone just kept a hold of their BTC until the moment they wanted to sell then there would literally be no BTC available to borrow to open shorts. Or am I being too naive here? Yeah sure you're technically correct. But shorting only works short term. If you believe BTC is inevitable, you can earn interest and buy more BTC cheaper while traders try to hold the price down ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) For short profits the mantra is don't give bears opportunity to short, they can use the ammo for flash crashes and other manipulation. But on the other hand if someone wants to bet against BTC i say let them try, just make sure to make them pay for it, i'd need more than 3% and broker guarantee. No free BTC for flash crashes
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Arriemoller
Legendary
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Activity: 2282
Merit: 1767
Cлaвa Укpaїнi!
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February 02, 2021, 08:58:07 AM |
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OutOfMemory
Legendary
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Activity: 1638
Merit: 3308
Man who stares at charts (and stars, too...)
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February 02, 2021, 09:23:21 AM |
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Finally a pump not for ants. Feb. 2nd Who would have thunk?!
Grayscale?
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Thanos01
Member
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Activity: 104
Merit: 34
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February 02, 2021, 10:27:52 AM Merited by LFC_Bitcoin (1) |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.ibb.co%2FgJLC0sr%2F145035120-998899177185119-8206871653170952608-o.jpg&t=665&c=F159ZV1xPBZegw) Bitcoin and blockchain in one picture.
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Phil_S
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Activity: 2102
Merit: 1518
We choose to go to the moon
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February 02, 2021, 10:32:52 AM |
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Finally a pump not for ants. Feb. 2nd Who would have thunk?!
Grayscale?
Such pumps are often short-lived... Let's see if we can stay over 35k for 24 hours, at least...
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serveria.com
Legendary
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Activity: 2338
Merit: 1189
Privacy Servers. Since 2009.
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February 02, 2021, 10:34:18 AM |
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Is that you, Arrie? ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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aesma
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February 02, 2021, 10:40:01 AM Merited by JayJuanGee (1) |
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So it seems RobinHood had a good reason to stop people buying stocks, that wasn't because they're chilling for the big guys : they didn't have the money to actually make the buys, and didn't have coverage anymore to do naked buys since the price was going crazy.
It's not really better for them because they're not actually saying this, instead they're lying about it.
I was wondering if other apps had similar problems and apparently it's the case of eToro, they're now putting short stops on people's positions without their consent, without even telling them, and the only way to remove them is to add money to your account. We're talking about long, non leveraged positions here, so there shouldn't be any need to cover !
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Millionero
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February 02, 2021, 10:53:04 AM |
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So it seems RobinHood had a good reason to stop people buying stocks, that wasn't because they're chilling for the big guys : they didn't have the money to actually make the buys, and didn't have coverage anymore to do naked buys since the price was going crazy.
It's not really better for them because they're not actually saying this, instead they're lying about it.
I was wondering if other apps had similar problems and apparently it's the case of eToro, they're now putting short stops on people's positions without their consent, without even telling them, and the only way to remove them is to add money to your account. We're talking about long, non leveraged positions here, so there shouldn't be any need to cover !
Can a broker legally sell you out of a long without so much as asking your permission? I know they have to do it to survive, but if it's illegal, then the broker should default and go out of business. Not steal your long positions. Breaking the law to survive is still breaking the law. If I had to choose between starving and robbing a bank, and I robbed a bank, I would still go to jail for it. These brokers are robbing people. Instead of robbing people, the brokers have to eat shit and die, because it's the right thing to do.
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aesma
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February 02, 2021, 11:01:14 AM |
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Yeah I don't understand how that's possible either.
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ghandi
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February 02, 2021, 11:20:21 AM |
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As far as i have understood it: Robinhood is ONLY giving you a margin account. So they are allowed to liquidate your margin long position, if the prices moves against you.
The interesting part of these "Neobrokers" is just this conclusion: You never buy stocks there.
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Millionero
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February 02, 2021, 11:30:38 AM |
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As far as i have understood it: Robinhood is ONLY giving you a margin account. So they are allowed to liquidate your margin long position, if the prices moves against you.
The interesting part of these "Neobrokers" is just this conclusion: You never buy stocks there.
I read that Robinhood defaults to margin accounts. But you don't have to use the default.
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ghandi
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February 02, 2021, 11:46:10 AM |
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The only thing left in this loophole then is probably the 2day-settlement process. Since the stock is "instantly" transfered to you but settlements takes place 2 days later, there may be a serious discrepancy between at which price you "thought" you bought and it which price the stock actually gets settled. So if this goes wildly against the broker/clearing house they may refuse to settle. But strictly speaking this would not sell your stock, this would just rewind your trade (which for the end user is still bad, but nobody robbed you in this situation. At least if you look at it like a lawyer would ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) )
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Arriemoller
Legendary
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Activity: 2282
Merit: 1767
Cлaвa Укpaїнi!
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February 02, 2021, 12:19:35 PM |
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Is that you, Arrie? ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) As they would say on wallstreetbets "that's me talking to my buddies while my wife is upstairs with her boyfriend".
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Cryptotourist
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February 02, 2021, 12:45:39 PM |
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Dear nocoiner n00bs, FOMO time has arrived for you. Just for you. Buy BTC at these prices like you mean it, and rest assured that you will enjoy the fruits of your investment - soon. Stay away from shitcoins, unless you're suicidal. Don't be greedy and ignorant, it's a dangerous combination. Sincerely yours, CT
Can we break through now? ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fyilj53z.png&t=665&c=1f_XLeqkfJhTrg)
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OutOfMemory
Legendary
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Activity: 1638
Merit: 3308
Man who stares at charts (and stars, too...)
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February 02, 2021, 01:41:28 PM |
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Finally a pump not for ants. Feb. 2nd Who would have thunk?!
Grayscale?
Such pumps are often short-lived... Let's see if we can stay over 35k for 24 hours, at least... Oh, i didn't expect it to stay over $35k. Lately i get quite happy if a pump is correcting less than 50% Plus there seems to be constant slight upward pressure, so all is fine. Maybe we'll see another pump today.
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cAPSLOCK
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Activity: 3766
Merit: 5146
Whimsical Pants
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February 02, 2021, 02:09:06 PM |
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As far as i have understood it: Robinhood is ONLY giving you a margin account. So they are allowed to liquidate your margin long position, if the prices moves against you.
The interesting part of these "Neobrokers" is just this conclusion: You never buy stocks there.
Not your certificate. Not your stonk.
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vapourminer
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Activity: 4424
Merit: 3844
what is this "brake pedal" you speak of?
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February 02, 2021, 02:18:25 PM Last edit: February 02, 2021, 02:28:41 PM by vapourminer |
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As far as i have understood it: Robinhood is ONLY giving you a margin account. So they are allowed to liquidate your margin long position, if the prices moves against you.
rh allows cash accounts too, so if you dont use margin youre ok afaik. at least they havent done anything to my cash buy stuff (including $gme) and i do know they did liquidate margins stuff on $gme (and some others i believe) at pretty much any price they chose. agree on the Do Not Use bit, but did have fun playing there for a while. i wonder if they will survive this.
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Torque
Legendary
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Activity: 3654
Merit: 5226
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Had to look him up. Scott Galloway. Just another bleeding-heart professor who likes to talk out of his ass. "Galloway is well-known for making bold proclamations and taking positions on the future performance of companies while often being remarkably incorrect in his assessments. Despite becoming well-regarded on television and other media outlets for being a business strategist and leader, his advice and guidance on public equities is regularly incorrect. His notable recent predictions include, at various points, predicting the downfall of Lyft, Tesla, Pinterest, Snap, Twitter, Peloton, Slack, and Uber, all of which have improved in price and outperformed market indices since his prediction."
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Wekkel
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Activity: 3108
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yes
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February 02, 2021, 02:25:26 PM |
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So Scott is all talk and no game?
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Torque
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Activity: 3654
Merit: 5226
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February 02, 2021, 02:31:29 PM |
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As far as i have understood it: Robinhood is ONLY giving you a margin account. So they are allowed to liquidate your margin long position, if the prices moves against you.
The interesting part of these "Neobrokers" is just this conclusion: You never buy stocks there.
Not your certificate. Not your stonk. Fun Fact: Did you know that you can't even get access to a stonk certificate that you own outright? Patrick Byrne, the once CEO of Overstock.com (a company he founded and owned) tried to get the actual certs for the stocks he owned. He wanted the physical documents in his hand. The DTCC gave him the run-around for months and months, and then finally told him to just drop it. True fucking story.
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