Celsius Pauses Withdraws | |
Anonymous Coward (OP) User ID: 80573266 United States 06/12/2022 10:46 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 81799072 06/12/2022 10:53 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 81810667 France 06/12/2022 10:55 PM Report Abusive Post Report Copyright Violation | |
hankie Everything User ID: 80628258 United States 06/12/2022 11:06 PM Report Abusive Post Report Copyright Violation | sounds like they are bankrupt or totally defunct Quoting: Anonymous Coward 81810667 not sure what you call crypto when it goes belly up On the internet and lost, gone not going to be trusted anymore type thing. Sorry I got a headache These are the times that tries men's and women's souls! May we come though it victorious! |
Anonymous Coward User ID: 81727773 United States 06/12/2022 11:07 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 80573266 United States 06/12/2022 11:09 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80234245 United States 06/12/2022 11:12 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 67281438 United States 06/13/2022 12:12 AM Report Abusive Post Report Copyright Violation | |
TerraFirma's Esoterrorist User ID: 58851912 United States 06/13/2022 12:22 AM Report Abusive Post Report Copyright Violation | "The Mashinsky Moment": Celsius Pauses All Withdrawals [link to www.zerohedge.com (secure)] "Keep a weather eye to the chart on high and go home another way" –James Taylor Never Die Young |
BroDude User ID: 82452937 United States 06/13/2022 12:36 AM Report Abusive Post Report Copyright Violation | This is Terra/LUNA all over again. CEL crypto is down 40% in a few hours on this news, down 95% year to date. Celsius is/was a Defi lending platform. You send Celsius your crypto and it gets lent out and you earn APY, but now no one can get their crypto out of Celsius and it's looking like a giant rug pull. |
Anonymous Coward User ID: 81799072 06/13/2022 12:41 AM Report Abusive Post Report Copyright Violation | So Celcius pays customers up to 18% interest to deposit their Bitcoins in their “bank.” Since only about 3% or less can be returned as true interest on this “money” the other 15% they must have built in as projected gains that they would make on price appreciation. Or else where would it come from? If the price of Bitcoin tumbles, the strategy falls apart and everyone loses everything. Got it. |
BroDude User ID: 82452937 United States 06/13/2022 12:48 AM Report Abusive Post Report Copyright Violation | So Celcius pays customers up to 18% interest to deposit their Bitcoins in their “bank.” Since only about 3% or less can be returned as true interest on this “money” the other 15% they must have built in as projected gains that they would make on price appreciation. Or else where would it come from? Quoting: Anonymous Coward 81799072 If the price of Bitcoin tumbles, the strategy falls apart and everyone loses everything. Got it. It's a Ponzi. It was discovered a week ago that Celsius borrowed 300+ million to support customer withdraws. And rumored they lost private keys to $1/2 billion worth of crypto and it's totally unrecoverable. |
Chinaman User ID: 74918516 United States 06/13/2022 12:50 AM Report Abusive Post Report Copyright Violation | The Ascent -- Cryptocurrency Celsius Review: Excellent DeFi Lending, Loaning, and Staking Services With Limited Crypto Trading by: Tor Constantino | Updated March 3, 2022 [link to www.fool.com (secure)] Chinaman |
Chinaman User ID: 74918516 United States 06/13/2022 12:53 AM Report Abusive Post Report Copyright Violation | So Celcius pays customers up to 18% interest to deposit their Bitcoins in their “bank.” Since only about 3% or less can be returned as true interest on this “money” the other 15% they must have built in as projected gains that they would make on price appreciation. Or else where would it come from? Quoting: Anonymous Coward 81799072 If the price of Bitcoin tumbles, the strategy falls apart and everyone loses everything. Got it. It's a Ponzi. It was discovered a week ago that Celsius borrowed 300+ million to support customer withdraws. And rumored they lost private keys to $1/2 billion worth of crypto and it's totally unrecoverable. That's why Peter Schift says that all Cryptos are Ponzi schemes and that they will all be worth ZERO eventually. Prove him wrong. So far, he's right. Look at Luna. Chinaman |
BroDude User ID: 82452937 United States 06/13/2022 01:14 AM Report Abusive Post Report Copyright Violation | So Celcius pays customers up to 18% interest to deposit their Bitcoins in their “bank.” Since only about 3% or less can be returned as true interest on this “money” the other 15% they must have built in as projected gains that they would make on price appreciation. Or else where would it come from? Quoting: Anonymous Coward 81799072 If the price of Bitcoin tumbles, the strategy falls apart and everyone loses everything. Got it. It's a Ponzi. It was discovered a week ago that Celsius borrowed 300+ million to support customer withdraws. And rumored they lost private keys to $1/2 billion worth of crypto and it's totally unrecoverable. That's why Peter Schift says that all Cryptos are Ponzi schemes and that they will all be worth ZERO eventually. Prove him wrong. So far, he's right. Look at Luna. Bitcoin is extremely liquid, more liquid that most publicly traded companies. In 2009 you could have bought 1,000 bitcoin for $100. Today, you could cash that out for $25 million. It's a no brainer, it's the fastest growing asset in the history of man kind. People like Peter are butt hurt they missed the boat, no point fighting a broken man. |
Tangy User ID: 23189531 United States 06/13/2022 01:34 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 82987544 United States 06/13/2022 01:48 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 82987544 United States 06/13/2022 01:50 AM Report Abusive Post Report Copyright Violation | So Celcius pays customers up to 18% interest to deposit their Bitcoins in their “bank.” Since only about 3% or less can be returned as true interest on this “money” the other 15% they must have built in as projected gains that they would make on price appreciation. Or else where would it come from? Quoting: Anonymous Coward 81799072 If the price of Bitcoin tumbles, the strategy falls apart and everyone loses everything. Got it. It's a Ponzi. It was discovered a week ago that Celsius borrowed 300+ million to support customer withdraws. And rumored they lost private keys to $1/2 billion worth of crypto and it's totally unrecoverable. those keys aren't lost. insiders lifted them because they knew the jig was up, just like Do Kwon. . |
Anonymous Coward User ID: 82987544 United States 06/13/2022 01:52 AM Report Abusive Post Report Copyright Violation | So Celcius pays customers up to 18% interest to deposit their Bitcoins in their “bank.” Since only about 3% or less can be returned as true interest on this “money” the other 15% they must have built in as projected gains that they would make on price appreciation. Or else where would it come from? Quoting: Anonymous Coward 81799072 If the price of Bitcoin tumbles, the strategy falls apart and everyone loses everything. Got it. It's a Ponzi. It was discovered a week ago that Celsius borrowed 300+ million to support customer withdraws. And rumored they lost private keys to $1/2 billion worth of crypto and it's totally unrecoverable. That's why Peter Schift says that all Cryptos are Ponzi schemes and that they will all be worth ZERO eventually. Prove him wrong. So far, he's right. Look at Luna. Bitcoin is extremely liquid, more liquid that most publicly traded companies. In 2009 you could have bought 1,000 bitcoin for $100. Today, you could cash that out for $25 million. It's a no brainer, it's the fastest growing asset in the history of man kind. People like Peter are butt hurt they missed the boat, no point fighting a broken man. he said "ASSet", Beavis, heh heh. . |
Anonymous Coward User ID: 82987544 United States 06/13/2022 01:57 AM Report Abusive Post Report Copyright Violation | So Celcius pays customers up to 18% interest to deposit their Bitcoins in their “bank.” Since only about 3% or less can be returned as true interest on this “money” the other 15% they must have built in as projected gains that they would make on price appreciation. Or else where would it come from? Quoting: Anonymous Coward 81799072 If the price of Bitcoin tumbles, the strategy falls apart and everyone loses everything. Got it. It's a Ponzi. It was discovered a week ago that Celsius borrowed 300+ million to support customer withdraws. And rumored they lost private keys to $1/2 billion worth of crypto and it's totally unrecoverable. That's why Peter Schift says that all Cryptos are Ponzi schemes and that they will all be worth ZERO eventually. Prove him wrong. So far, he's right. Look at Luna. most, yes. I wrote a stablecoin in 2018 that's backed 1:1 with USD deposits and t-bills so it won't go to zero, I think. . |
Anonymous Coward User ID: 36980548 United States 06/13/2022 02:01 AM Report Abusive Post Report Copyright Violation | Celsius paused everything to sell btc to keep up with demands of withdrawals the minor dump to 24,888 was from them getting liquid selling off btc to be able to cover most withdraws. This is still really bad because they are selling off clients btc to cover .For the last month people have been getting off Celsius due to rumors of this . I feel sorry for those that wont get their withdraws only to end up in court .They should be able to cover 95 percent but some 5 percent are fucked . |
Anonymous Coward User ID: 82987544 United States 06/13/2022 02:07 AM Report Abusive Post Report Copyright Violation | Celsius paused everything to sell btc to keep up with demands of withdrawals the minor dump to 24,888 was from them getting liquid selling off btc to be able to cover most withdraws. Quoting: Anonymous Coward 36980548 This is still really bad because they are selling off clients btc to cover .For the last month people have been getting off Celsius due to rumors of this . I feel sorry for those that wont get their withdraws only to end up in court .They should be able to cover 95 percent but some 5 percent are fucked . 95%? not a chance. they were running some sort of leverage that's been underwater for months and borrowed $300 million to ride it out, so that plus "missing assets" is already almost $1 billion gone. |
TerraFirma's Esoterrorist User ID: 58851912 United States 06/13/2022 02:24 AM Report Abusive Post Report Copyright Violation | Celsius paused everything to sell btc to keep up with demands of withdrawals the minor dump to 24,888 was from them getting liquid selling off btc to be able to cover most withdraws. Quoting: Anonymous Coward 36980548 This is still really bad because they are selling off clients btc to cover .For the last month people have been getting off Celsius due to rumors of this . I feel sorry for those that wont get their withdraws only to end up in court .They should be able to cover 95 percent but some 5 percent are fucked . 95%? not a chance. they were running some sort of leverage that's been underwater for months and borrowed $300 million to ride it out, so that plus "missing assets" is already almost $1 billion gone. "Keep a weather eye to the chart on high and go home another way" –James Taylor Never Die Young |
Anonymous Coward User ID: 48256742 Canada 06/13/2022 02:50 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 82987866 United States 06/13/2022 03:02 AM Report Abusive Post Report Copyright Violation | Celsius paused everything to sell btc to keep up with demands of withdrawals the minor dump to 24,888 was from them getting liquid selling off btc to be able to cover most withdraws. Quoting: Anonymous Coward 36980548 This is still really bad because they are selling off clients btc to cover .For the last month people have been getting off Celsius due to rumors of this . I feel sorry for those that wont get their withdraws only to end up in court .They should be able to cover 95 percent but some 5 percent are fucked . 95%? not a chance. they were running some sort of leverage that's been underwater for months and borrowed $300 million to ride it out, so that plus "missing assets" is already almost $1 billion gone. when Mt Gox unraveled, there were "missing assets" every week as employees looted the place. I've worked at a couple failing companies. more and more stuff disappears as bankruptcy gets closer. . |