3 ms·
Yotta claimed to be functionally equivalent to having a normal interest-bearing account with an excellent interest rate, and using a small portion of the intere
by wat10000 2y ago
Yotta claimed to be functionally equivalent to having a normal interest-bearing account with an excellent interest rate, and using a small portion of the interest to buy some lottery tickets. Buying lottery tickets might be dumb, perhaps even shameful (although I disagree as long as it’s not to excess), but it by no means implies that you deserve to lose your savings.
- kgwgk 2y agoFor what it's worth, some countries also offer "lottery bonds": https://en.wikipedia.org/wiki/Lottery_bond https://en.wikipedia.org/wiki/Lottery_bond
- multjoy 2y agoIn the UK, those are Premium Bonds backed by HM Government. The day that they can't be redeemed is the day you have significantly bigger problems.
- wat10000 2y agoYotta’s funds were backed by the US government. The trouble is that the link between Yotta’s funds and Yotta’s customers’ funds was somewhat more tenuous than they implied.