I do not get Robinhood at all

[djefferis]

So just got a message from them - my access to deposit/withdraw crypto is now banned. I can buy it with cash / sell it - but not deposit or withdraw crypto.

Reach out and ask why - “suspicion of involvement in gambling related activities which are expressly prohibited”.

First - no shit Sherlock - you found me out. What was the first clue - the fact I traded 100k in volume on college games yesterday on your platform ?!!?

Secondly - how is it perfectly acceptable to effectively bet on outcomes on your platform - but transferring funds to a de facto competitor expressly prohibited by your terms and conditions because what they are doing is “illegal” activity ?? Did I miss the license from my state casino commission on their website somewhere ?

 

[jjgold]

Wait that makes no sense
Robinhood is a gambling organization

Can you still do instant deposits with banks??

 

[djefferis]

Should mention - I NEVER

- received funds from an offshore
- sent funds to an offshore

From my RH crypto - everything first ran through other wallets first.

This means only one thing to me - my name/social hit someone’s suspicious activity report and RH uses that report.

It’s funny actually - was beating the hell out of RH betting dogs on the exchange and faves offshore. Offshore would give me a bonus on every deposit and when I’d win would pay me in crypto which RH granted a 2% boost for depositing with them. When I win RH could take that money in crypto at a .6% exchange fee and send offshore where it got me an extra 25%.

Sometimes in life you have to make your own bonuses. Guess the good times are really over for good. Probably smart not to keep pressing my luck with them before they try and pull some offshore trick and start confiscating funds and labeling me a TOS violator.

 

[KVB]

Secondly - how is it perfectly acceptable to effectively bet on outcomes on your platform - but transferring funds to a de facto competitor expressly prohibited by your terms and conditions because what they are doing is “illegal” activity ?? Did I miss the license from my state casino commission on their website somewhere ?

Crazy RH is doing this, and I do wonder how you were flagged.

But an answer to your question here has to do with a regulated exchange (Robinhood prediction markets, or derivatives account) vs. an offshore sportsbook.

Should mention - I NEVER

- received funds from an offshore
- sent funds to an offshore

From my RH crypto - everything first ran through other wallets first.

This means only one thing to me - my name/social hit someone’s suspicious activity report and RH uses that report.

Could the red flag have come from a crypto exchange at all?

They used to be overzealous with the "everything sent to a wallet is for gambling" mentality.

 

[jjgold]

It proves crypto is not anonymous

 

[KVB]

It proves crypto is not anonymous

Yeah, us Dept of Treasury real careful there.

Even if it is a "decentralized" unit, it's still always tied to what it's worth in dollars.

It's not exactly what the early adopters billed it to be.

 

[KingKolzig]

Robinhood takes ass turds from one man to another

 

[djefferis]

Yeah, us Dept of Treasury real careful there.

Even if it is a "decentralized" unit, it's still always tied to what it's worth in dollars.

It's not exactly what the early adopters billed it to be.

Exactly - these guys love to stick their fingers in everyone’s pocket and declare it a “war on terrorism”.

Somehow come into a decent sized amount of money - they start seizing and making you prove it’s legal - otherwise it’s not and theirs.

At this point I’m guessing it’s just a flag thrown by one of the other wallets I use alerting others and creating the alert. Still not something to play around with.

Dealt with this crap before on non gambling transactions. I regularly deal in custom knives - so wouldn’t be uncommon for me to have a transfer from people who like to buy and sell high end boomsticks as well. A few years back a certain administration was not happy about people dealing in those items using the interwebs and cracked down hard on funds transfers.

There is no anonymity - everyone should hold some level of physical metals and valuable goods- just another reminder.

 

[KVB]

At this point I’m guessing it’s just a flag thrown by one of the other wallets I use alerting others and creating the alert. Still not something to play around with.

Fukkin wallets need to stfu

 

[jjgold]

Robin Hood starting to do a pretty good volume I think sharps are starting to go there

 

[KVB]

Robin Hood starting to do a pretty good volume I think sharps are starting to go there

As they add the ability to trade more and more, it becomes attractive to all kinds of speculators.

A company that is making the right moves, for sure.

 

[europro]

So just got a message from them - my access to deposit/withdraw crypto is now banned. I can buy it with cash / sell it - but not deposit or withdraw crypto.

Reach out and ask why - “suspicion of involvement in gambling related activities which are expressly prohibited”.

First - no shit Sherlock - you found me out. What was the first clue - the fact I traded 100k in volume on college games yesterday on your platform ?!!?

Secondly - how is it perfectly acceptable to effectively bet on outcomes on your platform - but transferring funds to a de facto competitor expressly prohibited by your terms and conditions because what they are doing is “illegal” activity ?? Did I miss the license from my state casino commission on their website somewhere ?

This guy has fuckking money man

 

[djefferis]

As they add the ability to trade more and more, it becomes attractive to all kinds of speculators.

A company that is making the right moves, for sure.

It’s certainly has potential - the biggest thing they need to do at this point is offer volume rebates to those who are helping seed the markets.

Either a point back every month for those trading in excess of 100k - or reduced fees on events where the volume is traditionally low (like non top 25 college matchups). Start offering top tier soccer too to grab internationals.

Eventually they need to split it off onto its own entity - but that’s a couple years down the road. Right now - build volume and customers.

2% is just too pricey for professionals in my opinion - at half that price you would see volume soar I suspect.

 

[BobbyFK]

That's one reason I try not to mix my crypto with gambling unless I don't really care about the wallet for long term usage. You just never know what can happen

 

[djefferis]

That’s what’s alarming about this. I DO NOT send or receive anything from RH for any outside purposes.

I’ve been using MetaMask and receive funds at a disposable wallet.

The fact is one of these wallets flagged me and that flag was discovered by another account and put me on their radar.

It’s been lifted with a warning that any usage is a violation of TOS and grounds for closure on their end.

Still just shows how truly not anonymous crypto. Everyone likes to think you can do what you want and it can’t be tracked.

I’ve never believed it was that - but surprising how easy it is to track. Think about it - anytime there’s a major cyber attack - how do the criminals want to be paid ? Crypto. You think major companies and their insurance carriers are paying hundreds of thousands of dollars in ransoms and just writing that money off ? Hell no - they want the ability to track and recover as well as prosecute and stop future attacks.

 

[jjgold]

Robin Hood still reluctant to put daily baseball up. I guess they’re doing a slow rollout.


Kalshi a little better

 

[jamesy2422]

this sucks. sorry to hear.

i wonder if they want us to think crypto is still anonymous and catch people, etc. i can't imagine they don't know things, especially as they want taxes paid on money made from selling crypto.

i wonder if paypal will catch me eventually as i use them as my wallet now.

 

[edawg]

They steal from the poor and give to the rich.

 

[jjgold]

They steal from the poor and give to the rich.

It’s always been that way every business

 

[edawg]

It’s always been that way every business

Usury