> Because the South Korean crypto market wasn’t connected to the rest of the world, the Bitcoin price was on average 4.73% higher in Korean than in the US from January 2016 to February 2018.
> Alameda couldn’t crack the Kimchi Premium either. But SBF quickly turned his sights on other Asian markets. Somehow it all worked. Alameda started raking in a daily 10% return on their starting capital of $50,000.
Christ the greed: `$50,000 * (1.1) ^ d` where `d` is the number of days they managed that kind of return.
When `d` is 30, the total is $872,470. `d` = 60? 15,224,081. `d` = 90 => 265,651,130. `d` = 120 => 4,635,453,440
So, the problem here is d realistically is only 12-20. As much as SBF likes people to believe that he discovered a miracle trade, the reality was that he was only early by a couple of weeks and the rest of the world caught on afterwards.
> Alameda couldn’t crack the Kimchi Premium either. But SBF quickly turned his sights on other Asian markets. Somehow it all worked. Alameda started raking in a daily 10% return on their starting capital of $50,000.
Christ the greed: `$50,000 * (1.1) ^ d` where `d` is the number of days they managed that kind of return.
When `d` is 30, the total is $872,470. `d` = 60? 15,224,081. `d` = 90 => 265,651,130. `d` = 120 => 4,635,453,440
What the hell was this moron thinking?