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No different to someone who goes into a casino and bests their rent on red. If you can't afford to lose it, don't speculate with it
by easytiger 4y ago
No different to someone who goes into a casino and bests their rent on red. If you can't afford to lose it, don't speculate with it
- mr90210 4y agoWell said mate.
- secretsatan 4y agoDon't think casinos are allowed to say things like guaranteed 20% returns on your gambling investment. Admittedly anyone offered such returns should be suspicious.
- josephd79 4y agoI never saw any cefi or defi exchange advertise "Guaranteed 20% returns", which exchange did this?
- secretsatan 4y agohttps://www.ft.com/content/d459f435-edff-412c-85a5-0961d50aba69 https://www.ft.com/content/d459f435-edff-412c-85a5-0961d50ab...
- danielvf 4y agoAnchor offered a fixed 20% APY. This required you to convert your funds to UST in order to participate, and was the fuel to the crazy UST/Luna/Terra scam run up and subsequent crash to zero.
- syntaxing 4y agoIt’s grey because it’s 20% guaranteed return in your “currency”. Nothing about 20% return in USD (or whatever fiat)
- rsynnott 4y agoMany of these things didn't deliver that, though. You deposited your preferred form of magic beans, and they were supposed to give you 20% magic beans on them. Instead, well, they hung onto your magic beans, without even a cow in return. The most egregious ones, the ones who basically had a "Hello we are a scam" banner on their website, did sometimes require people to use their _own_ form of magic beans, but that wasn't typical.
- antifa 4y agoOther than the casino in question being unregulated and marketing itself to be more like a high interest savings account...