Cryptocurrency

RonBurgundy

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I am seeing news that both Square cash and Robinhood are going to allow users to trade in cryptocurrencies.

This is big news as both have an established user base, a good UI for buying and selling, and increase the average persons exposure to the crypto market. I wouldn't expect an immediate bump, but if the market goes through a rally this would definitely help it to sustain for longer.

I would also expect other apps to follow suit (such as Acorn and Stash) in order to stay competitive.

Another positive development is that Weiss came out with the first crytocurrency ratings. Weiss is not as well known as Moody's or Standard and Poor's, but his firm is respected.

https://www.cnbc.com/2018/01/24/weiss-ratings-gives-ethereum-higher-rating-than-bitcoin.html
 

Kypdurron

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cardano requires bitcoin to trade, and is difficult to get your money out without first converting to BTC.. until it breaks away from bitcoin i don't see why it's any better or worse.

I guess for me that is a non issue, I'm used to the process of converting to Eth, BTC and LTC to buy alts. The difference is Ripple is a centralized blockchain that has 50 billion coins in a vault with a plan to release them back into the market.
Cardano has a decentralized blockchain that has a 25 billion in circulation, 20 billion to be released over 24 years as payment for processing POS. I would say the upside therefore is higher.
 

RonBurgundy

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Game changer.
The trading app Robin hood will be letting you buy and sell crypto currencies free.

Has anyone signed up for this? At the very least, will cause Coinbase to lower fees to hold market share. Wooo!
 

Cyclone.TV

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It’s here on Robinhood. You can track them right now but not sure when it’ll be live to buy. March maybe for most states? Depending on how it goes, I would like to move all my crypto over to there.
 

besserheimerphat

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The SEC and CFTC (Commodity Futures Trading Commission) are starting to take a very hard look at cryptocurrencies. The commissioners of both agencies co-authored a letter in the WSJ yesterday.

"Significantly, cryptocurrencies are now being promoted, pursued and traded as investment assets, with their purported utility as an efficient medium of exchange being a distant secondary characteristic."

"The SEC does not have direct oversight of transactions in currencies or commodities. Yet some products that are labeled cryptocurrencies have characteristics that make them securities. The offer, sale and trading of such products must be carried out in compliance with securities law. The SEC will vigorously pursue those who seek to evade the registration, disclosure and antifraud requirements of our securities laws. In addition, the SEC is monitoring the cryptocurrency-related activities of the market participants it regulates, including broker-dealers, investment advisers and trading platforms.

The SEC is devoting a significant portion of its resources to the ICO market. Through statements, reports and enforcement actions the SEC has made it clear that federal securities laws apply regardless of whether the offered security—a purposefully broad and flexible term—is labeled a “coin” or “utility token” rather than a stock, bond or investment contract. Market participants, including lawyers, trading venues and financial services firms, should be aware that we are disturbed by many examples of form being elevated over substance, with form-based arguments depriving investors of mandatory protections.

The CFTC and SEC, along with other federal and state regulators and criminal authorities, will continue to work together to bring transparency and integrity to these markets and, importantly, to deter and prosecute fraud and abuse."
 
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Cyclone.TV

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The SEC and CFTC (Commodity Futures Trading Commission) are starting to take a very hard look at cryptocurrencies. The commissioners of both agencies co-authored a letter in the WSJ yesterday.

"Significantly, cryptocurrencies are now being promoted, pursued and traded as investment assets, with their purported utility as an efficient medium of exchange being a distant secondary characteristic."

"The SEC does not have direct oversight of transactions in currencies or commodities. Yet some products that are labeled cryptocurrencies have characteristics that make them securities. The offer, sale and trading of such products must be carried out in compliance with securities law. The SEC will vigorously pursue those who seek to evade the registration, disclosure and antifraud requirements of our securities laws. In addition, the SEC is monitoring the cryptocurrency-related activities of the market participants it regulates, including broker-dealers, investment advisers and trading platforms.

The SEC is devoting a significant portion of its resources to the ICO market. Through statements, reports and enforcement actions the SEC has made it clear that federal securities laws apply regardless of whether the offered security—a purposefully broad and flexible term—is labeled a “coin” or “utility token” rather than a stock, bond or investment contract. Market participants, including lawyers, trading venues and financial services firms, should be aware that we are disturbed by many examples of form being elevated over substance, with form-based arguments depriving investors of mandatory protections.

The CFTC and SEC, along with other federal and state regulators and criminal authorities, will continue to work together to bring transparency and integrity to these markets and, importantly, to deter and prosecute fraud and abuse."

Sounds good.
 

TXCyclones

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This is pretty exciting! I've been using Robinhood for the past year and have begun doing 100% of my stock trades through the app (now also online). ZERO fee trading! As was mentioned above they are going to begin doing crypto trades. But this morning I was STUNNED to see the entire list of Cryptos that they're going to trade, also at ZERO FEES! I have since upgraded my subscription to their highest level as it allows margin trading and such. There are some great coins to speculate on now ahead of Robinhood opening trades!

I'm also on the list, but if you all want to sign up and use my link you and I will both get a free stock of something like GE, Coke, Facebook, or some other. If you're interested: http://share.robinhood.com/shawnk43

IMG_0437.PNG IMG_0436.PNG
 

Kypdurron

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Dec 13, 2017
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The SEC and CFTC (Commodity Futures Trading Commission) are starting to take a very hard look at cryptocurrencies. The commissioners of both agencies co-authored a letter in the WSJ yesterday.

"Significantly, cryptocurrencies are now being promoted, pursued and traded as investment assets, with their purported utility as an efficient medium of exchange being a distant secondary characteristic."

"The SEC does not have direct oversight of transactions in currencies or commodities. Yet some products that are labeled cryptocurrencies have characteristics that make them securities. The offer, sale and trading of such products must be carried out in compliance with securities law. The SEC will vigorously pursue those who seek to evade the registration, disclosure and antifraud requirements of our securities laws. In addition, the SEC is monitoring the cryptocurrency-related activities of the market participants it regulates, including broker-dealers, investment advisers and trading platforms.

The SEC is devoting a significant portion of its resources to the ICO market. Through statements, reports and enforcement actions the SEC has made it clear that federal securities laws apply regardless of whether the offered security—a purposefully broad and flexible term—is labeled a “coin” or “utility token” rather than a stock, bond or investment contract. Market participants, including lawyers, trading venues and financial services firms, should be aware that we are disturbed by many examples of form being elevated over substance, with form-based arguments depriving investors of mandatory protections.

The CFTC and SEC, along with other federal and state regulators and criminal authorities, will continue to work together to bring transparency and integrity to these markets and, importantly, to deter and prosecute fraud and abuse."

Sadly I don't think a government can be impartial in this, the more people start using bitcoin(or other coins) as a currency the less they use the dollar. This is a defensive position not one that embraces technology and an emerging market. I would rather see something more like Switzerland or Estonia. Go all in and become a hub for the technology.
 

agardini

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Nov 12, 2009
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This is pretty exciting! I've been using Robinhood for the past year and have begun doing 100% of my stock trades through the app (now also online). ZERO fee trading! As was mentioned above they are going to begin doing crypto trades. But this morning I was STUNNED to see the entire list of Cryptos that they're going to trade, also at ZERO FEES! I have since upgraded my subscription to their highest level as it allows margin trading and such. There are some great coins to speculate on now ahead of Robinhood opening trades!

Hold up a little on thinking they are going to trade all those. They will allow you to look at 16 different cryptocurrencies, but they are only going to have bitcoin and ethereum at the beginning.
 

Judoka

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