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[return to "YC W22 Stablegains is being sued for losing $42M in funds from 4878 customers"]
1. riffra+v3[view] [source] 2022-05-19 06:41:44
>>donsup+(OP)
I imagine (and hope) those 5k where mostly crypto bros who knew what they were getting into. Who else expects 15% returns from a "safe" investment?
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2. devout+24[view] [source] 2022-05-19 06:47:51
>>riffra+v3
I didn't invest because it was only 15% gains. Sad, but true. I actually read them their material & saw it was based on Anchor Protocol. When I saw that it was based on UST, and I couldn't figure how UST was backed by anything I understood, I opted out. One of the few times in crypto where I felt "do you won research" paid off for me.
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3. vkou+0a[view] [source] 2022-05-19 07:44:08
>>devout+24
> I didn't invest because it was only 15% gains

I'm confused. Were you looking for a cryptocoin that was promising 1,500% gains?

Anyone promising a safe 15% return in a world where your savings account earns 0.15% interest is trying to rob you.

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4. renonc+Qb[view] [source] 2022-05-19 08:02:20
>>vkou+0a
It's unfair to compare it against a savings account. Even 1-year treasury bills would give you around 2% interest. It's just that banks are not willing to offer that premium to you.
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