4 ms·

You're catching down votes because your comment comes across as mean spirited. Yeah, this guy was greedy and dumb, but it really sucks for his kids. Others migh

by ch4s3 4y ago

You're catching down votes because your comment comes across as mean spirited. Yeah, this guy was greedy and dumb, but it really sucks for his kids. Others might also ask, if not for BlockFi, would he have pissed away his life savings? Moreover, your comment shows the kind of hubris of someone who thinks they could never fall for any scam.

notch656a 4y ago
"Investing" in BlockFi was dumb, but it's funny in the year 2022 seeking negative real interest rates (roughly -2%) is supposed to be the obvious tip it must be a scam. The fiscal policies at the fed and federal government really sent people chasing wild risk just to almost (but not even) break even.
ktta 4y ago
> Others might also ask, if not for BlockFi, would he have pissed away his life savings? Wild comment to make about someone who saved up $600k. You don't save up that much if you are the kind to "piss away" money. Expecting 6.5% return is not greedy. S&P 500's average return is around that
- Animatronio 4y ago
  He got the money from selling his house. And 6.5% is very cunning in that it's not significantly above what a bank would offer on a deposit (7-8% and even more are available in EU at least) but it's also not preposterous like 38% available right now on Hex. So I'm guessing he thought he was smart and NOT greedy by going with a lower return in exchange for perceived safety.
  - bathory 4y ago
    Making it sound like you can get this rate for Euros by saying in EU is dishonest. You should mention for which currency this holds, not mention a whole continent.
    - Animatronio 4y ago
      Not every country in the EU (27 countries) is also in the Euro area (19 countries) - some still have their own currency. Interest rates for commercial banks are probably a little under the national banks' rate, which in turn is dependent on the inflation.
- ch4s3 4y ago
  That's my point. When I said, "Moreover, your comment shows the kind of hubris of someone who thinks they could never fall for any scam. " I meant that its clear the guy was scammed and the OP is being arrogant and mean.
  - ktta 4y ago
    Gotcha. My apologies for misinterpreting
    - ch4s3 4y ago
      Not a problem, I think I was a little too subtle.

by ch4s3 4y ago

notch656a 4y ago

"Investing" in BlockFi was dumb, but it's funny in the year 2022 seeking negative real interest rates (roughly -2%) is supposed to be the obvious tip it must be a scam. The fiscal policies at the fed and federal government really sent people chasing wild risk just to almost (but not even) break even.

ktta 4y ago

> Others might also ask, if not for BlockFi, would he have pissed away his life savings? Wild comment to make about someone who saved up $600k. You don't save up that much if you are the kind to "piss away" money. Expecting 6.5% return is not greedy. S&P 500's average return is around that

Animatronio 4y ago
He got the money from selling his house. And 6.5% is very cunning in that it's not significantly above what a bank would offer on a deposit (7-8% and even more are available in EU at least) but it's also not preposterous like 38% available right now on Hex. So I'm guessing he thought he was smart and NOT greedy by going with a lower return in exchange for perceived safety.
- bathory 4y ago
  Making it sound like you can get this rate for Euros by saying in EU is dishonest. You should mention for which currency this holds, not mention a whole continent.
  - Animatronio 4y ago
    Not every country in the EU (27 countries) is also in the Euro area (19 countries) - some still have their own currency. Interest rates for commercial banks are probably a little under the national banks' rate, which in turn is dependent on the inflation.
ch4s3 4y ago
That's my point. When I said, "Moreover, your comment shows the kind of hubris of someone who thinks they could never fall for any scam. " I meant that its clear the guy was scammed and the OP is being arrogant and mean.
- ktta 4y ago
  Gotcha. My apologies for misinterpreting
  - ch4s3 4y ago
    Not a problem, I think I was a little too subtle.