Re:Small Investors Who Jumped into Crypto on FTX Say, Now What?
by Animatronio on Monday December 05, 2022 @08:19PM
(#33874594)
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.
Re:Small Investors Who Jumped into Crypto on FTX Say, Now What?
by bathory on Monday December 05, 2022 @08:57PM
(#33874885)
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.
Re:Small Investors Who Jumped into Crypto on FTX Say, Now What?
by Animatronio on Tuesday December 06, 2022 @12:18PM
(#33883592)
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.
Re:Small Investors Who Jumped into Crypto on FTX Say, Now What?
by ch4s3 on Tuesday December 06, 2022 @11:07AM
(#33882279)
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.
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