Hacker News Reader

Comment by yieldcrv | Hacker News Reader

That doesn't boggle my mind

Yobit is an long standing exchange, not one I would use

Yobit Pro was a scam app pretending to be related to that exchange

Crypto returns can be quite fast. If you have $4 million and its not really absurd to take that an order of magnitude higher, and be used to the volatility of it going lower.

There are plenty of “random crypto apps” that work fine for any amount of money

Don't let your own paranoia get in the way

“Not your keys, not your coin” remains true for “Yobit Pro”, FTX and established players like Coinbase

Plenty of random crypto apps are self custody apps that work fine

The people running Yobit Pro are probably using similar levels of OPSEC, and just have a lot more crypto now. This PvP aspect of crypto keeps it going.

View on HN

You see, my problem with crypto is that it’s value hinges entirely on convincing other ~~suckers~~ people to buy it.

So does everything else.

¯\_(ツ)_/¯

Nah. Intrinsic value is absolutely a thing.

Which of course is different than the market price of an asset. You can't say sell something at intrinsic value if the market thinks differently.

Yeah and while the market can't seem to make up it's mind about crypto it appears to have a pretty solid grasp on the concept of a loaf of bread...

Okay, but this woman didn’t own crypto, she owned an app that says she owned crypto in an exchange/brokerage

That has nothing to do with crypto and everything to do with this fake exchange scam, and even with a real exchange it has to do with consumer education on using non custodial apps

It’s downright weird that you have this other mental category for things that say crypto where your mental processing power throttled to the conclusion is “its crypto so let me blame the victim instead and ignore who chose to create a victim while they sent her death threats on whatsapp”

It’s more that the closer you get to crypto, the closer you get to something being a scam. If you are close enough to it that you think to invest 5M in it, I expect you to be aware of that. People do more due due dilligence when buying a washing machine.

Obviously it sucks for the lady, but to some extend it certainly deserves a financial darwin award.

Your lack of nuance about “crypto” and predilection of blaming victims is toxic.

That sector has plenty of things that follow the expected social contract of all parties, which can and does support balances of $4 million and far higher.

Your unwillingness to see that is not really a productive conversation here, although you’re in like company right now on this forum, you shouldn't be.

Reply on news.ycombinator.com