7 ms·

This was their old marketing: https://news.ycombinator.com/item?id=31431915 https://news.ycombinator.com/item?id=31431915 -"15% interest. No surprises."

• deleted 4y ago
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• nrmitchi 4y ago
  Thank you! I was looking for that image (which I'd seen before) but couldn't find it. Will be interesting to hear the argument "Well technically there were no surprises here, because customers should not be surprised when they lose all their money investing in risky assets. Therefore, technically, we did not lie."
• TheDudeMan 4y ago
  To be fair, the collapse of an algorithmic stablecoin is no surprise ;)
  • lmohseni 4y ago
    15% interest? No, surprises!
  • puranjay 4y ago
    I can tell you right now that there is absolutely no safe yield in crypto currently that goes beyond 4% on a “safe” stablecoin like USDC. For truly safe (as in, huge value locked, never been hacked), the yield is more like 1.5-2% All the high yield is in algoponzis or new protocols that carry massive protocol risk
    • elliekelly 4y ago
      There is absolutely no safe crypto. Full stop.
      • TheDudeMan 4y ago
        There is also no safe stock, right? (No need to list the differences between stocks and cryptocurrencies.)
    • ceeplusplus 4y ago
      Eh, there are CeFi lenders like BlockFi/Gemini offering 7%. It's not zero risk, but the loans are partly collateralized and the borrowers are institutional entities who aren't your everyday scammer. It's better than unsecured corporate bonds in my view.
• UncleEntity 4y ago
  > "15% interest. No surprises." I’m honestly not surprised about how things turned out.
• gus_massa 4y ago
  Was it 15% monthly or 15% annual?
  • nrmitchi 4y ago
    Well 15% monthly woud be ~535% annual and at that point you're well past "highly unlikely" and into "I'm printing money in my 20k sqft basement" territory.
    • gus_massa 4y ago
      We had a big Ponzi that exploded last month in Argentina (and extended to a few nearby countries). They promised a monthly interest from 7.5% to 20% (and IIRC they has even better offers for special "investors"). For example see https://www.ambito.com/informacion-general/generacion-zoe/leonardo-cositorto-y-otras-tres-personas-seran-imputados-11-estafas-n5444029 https://www.ambito.com/informacion-general/generacion-zoe/le... autotranslation https://www-ambito-com.translate.goog/informacion-general/generacion-zoe/leonardo-cositorto-y-otras-tres-personas-seran-imputados-11-estafas-n5444029?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp https://www-ambito-com.translate.goog/informacion-general/ge...
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• Terry_Roll 4y ago
  Dont rely on any websites & webpages existing like this link. I can show you links where even the Wayback machine has removed content, most people will know how Google Cache has removed content, so print all copies and have hard copies safely stored away where they cant be destroyed. Houses will be broken into in order to destroy evidence, I know I've had it done to me! This may be your only chance to out the criminals that run the world!
  • gruez 4y ago
    >Houses will be broken into in order to destroy evidence, I know I've had it done to me! >This may be your only chance to out the criminals that run the world! Given that the screenshot is an (instagram?) ad, there's probably such a huge papertrail that can be subpoenaed that you don't have to worry about the founder breaking into your house to destroy the only copy of the marketing materials.
    • Terry_Roll 4y ago
  • midasuni 4y ago
    Maybe you could store it on the blcokchain…
    • fartcannon 4y ago
      That would quite legitimately work.
      • Terry_Roll 4y ago
        I love the hubris people have in technology.
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