Celsius Network is still locking billions of dollars worth of their customers money. No communication from the company. No protests at company offices/headquarters.
What's the latest on the Celsius Scam/fiasco?
LULZ / Finance & Business
Celsius Salt Thread
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The latest is that Celsius is now able to withdraw their ETH from Bancor but only if they take a massive haircut with no BNT payout. So they aren’t withdrawing. Which also fucks their BNT short. The garden gnomes are going down and you best believe they’re dragging Celsius down by the scruff of the neck!
And no word yet from the CEO of Celsius?
Is a squeeze on BNT probable? Should I keep holding my BNT? It seems likely to go to zero if they turn ILP back on.
The garden gnomes of Celsius that ban people from taking their money.
The garden gnomes of Bancor who pull the rug on people who want to withdraw.
This garden gnome on garden gnome violence has to stop!
Let's hope they both fall over.
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Lots of Hopium being consumed.
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These dumbasses think they're going to get all their money back WITH INTEREST. LMFAO!
Reddit is weird. Let's down vote things I don't like. Even though said things are true.
Best thing is celsius still liquidates them if their margin drops too low roflmao. And if they deposit new money it will instantly be used for other collateral. And those retards still support them lol. The money is gone.
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carful OP, I got issued a warning for making a celsius salt thread that reached bump limit last weekend
What's wrong about it?
apparently despite talking about crypto its "off topic"
I think somebody lost money in it or something and got butthurt seeing the thread honestly
>I think somebody lost money in it or something and got butthurt seeing the thread honestly
That's likely exactly what happened.
Sucks but they dug that grave on their own. I do feel for anons that got memed by all the """decentralized""" finance shilling here but they shouldn't take that out on the rest of us who saw it for what it was.
Celsius isn’t decentralized retard.
If it was they wouldn’t be able to block withdrawals.
That's the joke. None of them are.
Of course it isn't. Not your keys not your coins. We warn them.
They actually called themselves "defi" even though it's centralized
Celsius marketed themselves as "defi" but are really just a centralized bank.
JANNIES GOT REKT BY CELSIUS
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Oh no they lost all their income on it
I just made a thread about cel token, and it got deleted.
Yet blatant porn threads stay up for hours.
>Celsius Network is still locking billions of dollars worth of their customers money.
you still don't understand. there is no money. it's gone. the only thing that's locked is a database row with a number in one field that now means nothing. read the fine print.
It doesn't matter to me, I have no money in Celsius. But if the company owners stole the money, chances are they're going to be sued for fraud, or wind up dead. Not sure if that's a good idea, would be better to return some of their customers funds.
it's not stolen. they paid out all they had. it's a ponzi scheme! they paid themselves to run it, you can call that stolen if you like, but i wouldn't.
Celsius made risky bets with leverage to get the yield for their customers. They lost a lot, billions, they took a big haircut with stEth and lost on various other projects. Also their maker vault is big in the red, they used a lot of the customer funds to lower the liquidation. Nontheeless they dont have enough atm to pay all customers back. They are fucked and trust is gone.
>Celsius Network is still locking billions of dollars worth of their customers money
LMAO. So its really Celsius is defaulting on the "loan" their customer's gave them.
Fuck cefi, hope all the scams and centralized grifters taking advantage of crypto collapse. People need to remember what crypto is about.
crypto is harmless, but it's also not worth anything. literally any unregulated gimmick at all can separate fools from their money, this one just happened to have the most convincing story as of late.
Crypto is regulated - by its open source code.
Celsius isn't crypto. Its just another bank who takes your money and you have to just trust them.
When it will resume withdrawals?
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not your keys? not your crypto
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I do find it very funny that reddit makes shit like this image. Speculative bubbles and ponzi schemes are a zero sum game. There is no sense in trying to have a "community" working together when everyone is trying to profit off of someone else's loss. They paint it as sticking it to the man and maybe that's what they really believe but in reality they're just trying to get new money in to hold the bag.
>in reality they're just trying to get new money in to hold the bag.
Exactly, and it's the same for every crypto. You can only "make money" in crypto if someone else LOSES money. There will always be more losers than winners.
No, Bitcoin is only a zero sum game if it goes to zero.
So far everyone can profit.
A mines for 1 dollar sell for 10
B buys for 10 sells for 50
C buys for 50 sells for 1000
D buys for 1000 and hold
See its not a zero sum game if it really is not going away!!
You have to admit, it's pretty crazy how many people are involved in crypto and think they're going to make money from it. Then again it's no different than other "manias" in history, like comic books, baseball cards, Bernie Madoff, Enron, etc.
True
But yes shitcoins that go to zero are a zero sum game
Bitcoin is a negative sum game. Most people who bought in the last 2 years are underwater. And minera need to constantly sell, we need millions of $ per day of FIAT inflow just to support the price because miners are extracting value. Aka negative sum game
You are literally describing a ponzi sheme. D needs to sell to E and so on. Someone will always be the bagholder in the end.
>You can only "make money" in crypto if someone else LOSES money.
Lending is productive. A poor farmer with land he works with his hand can multiply his output if he gets a loan for equipment. The lender makes money, the farmer makes money and everyone gets more food.
Same applies to market access. The farmer with better access to markets is better able to trade his excess and save for equipment. Add defi and he can get more productive earlier by only saving up for a collateral on a defi loan.
Theyre trying to chase bad money eith good money
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Also this short squeeze meme is very tiresome. I hate reddit so much. Here's a community effort to unite all the nations of the world to buy my bags because I fell for a get-rich-quick scheme in my greed.
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This is still going on?
Holly fuck normies are retarded. Ok, so let's run through the thought process of these homosexuals.
>get decentralised currency
>store it in a centralised system
>store it in a centralised system that is run by a garden gnome
How fucking stupid do you actually have to be on a scale from 1 to Joe Biden?
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This is what people get for not using their own wallets on their own machines.
This is what you get for trying to get rich quick reddit,
I was gonna use celsius for link but when i looked it up, the good apy only seemed to be for small amounts, it was something like
5% for 1-100 link
2.5% for 100-500
1% for 1000+
Or some kind of bullshit like this. Lol 1% no thanks
People actually thought they could retire from celsius lmao
>Your account has been permanently suspended from Reddit
Based
buy when others are fearful
this is where celsius buyers will attain generational wealth, not the paltry 5x bitcoin may eventually achieve
test
>crypto
>giving full custody to some entity for a little yield
these people deserve it