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A comment on Crypto lending company Babel Finance halts redemptions and withdrawals. Parent comment

Re:Crypto lending company Babel Finance halts redemptions an... by tenpies on Friday June 17, 2022 @08:45AM (#31777276)
Another fantastic metric: compare the returns for storing or staking your crypto with them to the current sovereign interest rates.

Is it offering Argentina/Turkey returns? Then they're probably the Argentina and Turkey of crypto.

[ Parent | on HN ]
Re:Crypto lending company Babel Finance halts redemptions an... by youessayyyaway on Friday June 17, 2022 @09:14AM (#31777634)
Rate of return is a remarkably good metric for identifying scams.

If they offer more than ~12.5%, run away. Avast, ye salty dogs: a piece o' eight ain't worth losing yer shirt over.

[ Parent | on HN ]
Re:Crypto lending company Babel Finance halts redemptions an... by zeven7 on Friday June 17, 2022 @09:17AM (#31777672)
IMO your number is still too high
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Re:Crypto lending company Babel Finance halts redemptions an... by youessayyyaway on Friday June 17, 2022 @09:37AM (#31777942)
My actual red-flag point was closer to 8-9% pre-inflation. But that is less amenable to pirate jokes, and you can get I-bonds approaching 10% from the government now.
[ Parent | on HN ]