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0 pointsdjtango1y ago0 comments

The point is the window to buy was 2-3 hours: you had to be ready to trade, and watching either charts or being on a discord or actively checking X and with cash in an account.

People lost money but I doubt there was much collateral damage

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guax1y ago

Though I agree that the damage will be limited I don't think it would be very concentrated on people paying attention. Considering notifications get pushed and heavy use of large group chats is common in south America does not take much for it to be promoted to laypeople by the more active followers of Javier. Older people particularly at risk given the excessive trust they give to people In position of power, knowledge of technology and readily available savings in USD on non savings accounts or investments.

jcarrano1y ago

Older people have their USDs in hard cash and will wait hours at the bank each month to withdraw their pension in cash (i.e. not even use the ATM).

gus_massa1y ago

> Older people particularly at risk given the excessive trust they give to people In position of power, knowledge of technology and readily available savings in USD on non savings accounts or investments.

Older people have seen one hyperinflation, a few high inflation periods, sudden jumps in prices, perhaps two or three bank runs followed by confiscation of the deposits exchanged for long term bonds, and I may be missing a few "interesting" events. They don't trust anybody anymore.