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"Who could have predicated the historically volatile market we operate within would turn out be volatile? Completely unprecedented!"

• JohnJamesRambo 4y ago
  Completely unprecedented four year boom bust cycle that is as regular as a metronome. https://stats.buybitcoinworldwide.com/monthly-rsi/ https://stats.buybitcoinworldwide.com/monthly-rsi/
• jrumbut 4y ago
  Not even that volatile honestly. Regular old stocks and bonds, even whole indices, have the kind of bad run Bitcoin, Ethereum, etc have. Making nothing out of something happens all the time in business, this wasn't even that. A Bitcoin is still worth an absurd amount of money. I'd have a lot more respect for this group if they just said "As you must know, anything paying 18% is risky and this risk didn't pay off. The money is gone, you may receive a few pennies in liquidation but we doubt it. Watch this space, we'll have another high risk/high reward gamble for you soon." Instead they are prolonging the misery for their customers (assuming they aren't about to make everyone whole) and solidifying the idea that this wasn't a risky tech business enabling tech and financial savvy people to gamble but is instead a bank that tried to exist outside of banking regulations.
  • happyopossum 4y ago
    > even whole indices, have the kind of bad run Bitcoin, Ethereum, etc have. No, not really. I can’t think of a time where the DJIA has lost 70% of its value, can you?
    • jrumbut 4y ago
      Not 70% exactly but it did lose 90% between 1929 and 1932 :) The universe of indices is much wider than DJIA too.