Given that running a Bitcoin exchange is a figurative license to print money, and Bitfinex has conceded in court that they self-approved a literal license to print money, the Straussian reading of this is “We’re trying to grab every penny we can to keep past from killing us.” https://twitter.com/mdudas/status/1168605893115727874 …
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A sketch of the math: suppose risky legitimate businesses are growing at 10% a year. A fraud offers 20%, because it needs to attract assets. It does. It now a) can’t offer 6% (the assets will leave) and b) needs to hit >>> 20% if it wants to go legit, b/c 20% wasn’t real.
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I love that you’re on a first name basis with Compound Annual Growth Rate. :)
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