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Comment by mhmmmmmm | Hacker News Reader

> This is not something you can just log in on Binance and buy with cash in a single click.

You would've definitely been able to buy it with cash and a few clicks, for example using moonshot. (And I'm sure a couple other / similar platforms)

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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

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.

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).

> 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.

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