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Comment on Is This the End of Plastic? Visa's New Technology Could Replace Physical Cards

muntedcrocodile@lemm.ee ⁨5⁩ ⁨months⁩ ago

Wow we really are marching right to towards a centralised digital currency with no privacy and no actually ownership.

Remember back in the day when owning stock meant u owned the actually stocks. Well now u own the right to the stocks but if the platform ur trading on goes under welp out of luck guess u don’t actually own them.

You will own nothing and be happy.

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asdfasdfasdf@lemmy.world ⁨5⁩ ⁨months⁩ ago
What? That’s not true. That’s what SPIC is for. Just like if a bank goes under and it’s FDIC insured, then you’re fine.

Robinhood has SIPC coverage. This means your assets are backed by the Securities Investor Protection Corporation. Through this, users are protected for up to $250,000 in cash and up to $500,000 in assets. This would come into play if Robinhood were to file for bankruptcy and couldn’t provide users with full asset values.

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- Texas_Hangover@lemm.ee ⁨5⁩ ⁨months⁩ ago
  SPIC lmao. They might want to rethink that acronym.
  
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  - TheOccasionalTachyon@lemm.ee ⁨5⁩ ⁨months⁩ ago
    It’s actually SIPC - the Securities Investor Protection Corporation, so there aren’t any abbreviation problems.
    
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    Texas_Hangover@lemm.ee ⁨5⁩ ⁨months⁩ ago
    Oops! Dyslexia lol. My bad.
    
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0x0@programming.dev ⁨5⁩ ⁨months⁩ ago

Well now u own the right to the stocks

Isn’t that called an option in the derivatives market? You can still own stock.

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azalty@jlai.lu ⁨5⁩ ⁨months⁩ ago
This

Fuck credit cards, long life to cash!

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Meron35@lemmy.world ⁨5⁩ ⁨months⁩ ago
This only applies to discount brokers, all of which are licensed, regulated brokers.

You do, in fact, “own” the stocks you buy.

The internal plumbing of securities clearing, settlement, and registration is not a concern to retail investors.

Stop buying into juvenile conspiracies.

And if for some reason you are still not satisfied, you can always opt for a “full service” broker or ask to register the shares in your name, both of which are much more expensive.

Do I own my shares? – Trading 212 - …trading212.com/…/360008702918-Do-I-own-my-shares

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- chiisana@lemmy.chiisana.net ⁨5⁩ ⁨months⁩ ago
  Vast majority of those who are vocal about “ownership” are from that reddit cult. They’ll drag you down to their level with nonsense and stupidity, trying to convince you that GameStop will make them multi-billionaires. Be careful and don’t waste too much of your time on them.
  
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