zlacker

Wow, you're absolutely right. This story about how HN invested in an obvious Ponzi scheme (seriously, if the name Stablegains doesn't throw off alarm bells, you deserve to lose your money) fell over 10 spaces in the time it took me to click to the comments, read your comment, and click back to check.

>>frob+(OP)
I don't know what due-diligence that YC do but I can imagine, as someone who only knows the basics of crypto-currency, of being sucked into some confident founder telling me that, "of course it is safe, it uses stable coins".

The risks seem really obvious after everything falls through but there are plenty of other companies that are "obvious scams" who happen to have made it by luck/skill/investment.

>>lbrine+Wd
If you're so naive you could be sucked into stable coins that easily, you have no business running an investment fund.

>>lbrine+Wd
> The risks seem really obvious after everything falls through

The risks are obvious the second you see that they offer 15% yield, which is roughly DOUBLE the current yield of the average junk bond, and about QUADRUPLE the yield at the time YC closed.