/biz/ - Business & Finance

>>49686947
Crypto investors are as fragile as the market

>>49687099
They really are

>>49686947
>p-please give me my 200 dollars back it was all I had
Lmaoooooo I am rooting for Macinsky and Do Kwon to make off with as many retards life savings as possible

>>49687107
>5figures
And he booked a therapist

they are still not allowed to get the coins out of there?

>>49687147
Leddit has transcended itself into reality/society as if an egregore of giant pussies and fags.

>>49687232
>i put my wifes retirement in there

>>49686947
triple digit losses will lead to more mass suicides. Honestly couldn’t be happier.

>>49687107
>5 figures
The therapist will eat at least 4 figures, maybe 5 if he sticks it out long-term, before he's done. And I say this as someone who's lost nearly 300k in this.
Nobody knows shit about Celsius' actual position or what they're going to do yet and it's 100% out of my hands. Nothing I can do now but wait and maybe I'll get a measly % back.

>noooo unregulated crypto guy who can just cut and run as soon as things go south, please don't fuck us over

>>49687277
>Her boyfriend is going to kill me

Oh no no no
Hahaha

>>49687145
It's genuinely hard to motivate myself to hold down a job, even one that pays 170k per year, knowing that I just lost all I could possibly save for the next few years basically.

>>49687383
lol shut the fuck up and do your homework dumbass

>>49686947
These people are so fucking retarded. I have money in crypto too but I don't go all in because I HAVE TWO FUCKING BRAINCELLS
>>49687232
I hope most of those posts are fake.

>>49687381
I did this but moved out a big chunk of it when LUNA scared me. You have to understand how this looked...
>We loan out the crypto for X % return
>Everyone we loan to has to have 150% overcollateralized positions with us
>You make slightly less than X % return by keeping your money with us and we take the difference as profit
>If it's not legit some other user will surely raise the alarm
This is how it looked to a lot of people who didn't realize Celsius did all kinds of shady shit with their own holdings.

>>49687232
>I put my wife's retirement in there
>Less than 50k
All my sympathy is gone.

>>49686947
Crazy to think that now Celsius is going to use their user's funds to lawyer up and protect themselves from their users. Clown world continues to peak

Blows my mind that people don't walk up to CEOs like this at a restaurant and blow their brains out. I'm not advocating murder, but it's weird to me that there multiple people willing to shoot up a school every year but nobody evergoes and wastes a ceo

>>49687503
That's another reason why people trusted Celsius by the way.
>The company is based in New Jersey! There's no WAY they take our money and run. We're not China!

>>49687381
friend of mine did that was USTC
he didn't pull out when all the chaos was happening. rip 20K USD. fuck knows how much his other shitcoins have tanked

>>49687503
I was going to make a thread earlier today asking if there's ANY historical, notable examples of this, apart from maybe assassinating politicians, but didn't want to get banned for being off-topic.

>>49687531
Coinbase is FDIC-insured for your USD by the way. I moved my money to Coinbase USD, not a stablecoin but just straight USD for now. When I feel ready to buy back in again I will.

All stablecoins are a complete scam now as far as I'm concerned.

>>49686947
what is he crying about?
just sit back and collect your 6.2% yield while this blows over
https://www.youtube.com/watch?v=YaNXa4yLv-w&t=3103s

>>49687583
Mashinsky comes off like a blubbering, ideological idiot here. Fuck.

>>49687583
51:43 - 53:00

>>49687328
Lmao you actually fell for a ponzi scheme? Hahahahahahah

>>49687624
Apparently... yes. I've learned every lesson that can be learned from my mistake (yes, really. No more of this shit for me). I can do nothing now but look forward. If I actually filed my taxes every year (I don't and the IRS seems to have lost me) then I would claim some losses.

>>49687501
>users
You meant unsecured creditors anon.

>>49687548
>I was going to make a thread earlier today asking if there's ANY historical, notable examples of this
tons of people disappear for losing wrong people money
or kill themselves with multiple nailgun hits to torso
https://www.dailymail.co.uk/news/article-2553964/CEO-commits-suicide-nail-gun-company-investigation.html

>>49687669
You might want to file your back taxes because you can basically keep claiming the 3k allowable losses for the rest of your life lol.

>>49687696
Good.

>>49687731
I've been marking myself as "exempt" from federal taxes from where I work for years and they've never brought it up. That's why I'm nervous to file taxes again.. But I'm also considering it. I think if it's a "total loss" scenario there's also other rules that let you claim far, far beyond the 3k.

>>49687707
>was on hold for 2+ hours before giving up
Never give up faggot

The future of finance is needing jpeg screenshots to prove you own your life savings

>>49687864
kek he can trust me, he'll never be needeing those

>>49687790
Please hold, your call is important to us. One of our agents will be with you shortly.

>>49686947
he should off himself

>>49687864
This is why "decentralization" isn't a meme.

>>49687897
I was on hold with Customer Service for United Airlines for 2.5 hours last week after I was stuck in the airport waiting for a flight that was canceled for 22 hours. Never give up lol

>>49687107
>getting this worked up over imaginary numbers, and only 5 figures of it...
these people are so weak, they deserve to get wrecked

Why are people this stupid and gullible to invest their life savings into some memecoin? I have a hard time understanding this.

>>49686947
>is such a greedy low IQ low inhib retard that he gambles on yet another cryptoscam
>"PLEASE... DON'T THINK ABOUT THE MONEY... THINK ABOUT THE CHILDREN I HAVE KIDS"
LMAOOOOOOOOOOOOOOOO GET FUCKED

I honestly find it very adorable how childish and dumb they are. It’s a kind of innocence I love seeing shattered.

>>49686947
Wait
Are they really still freezing people's money/crypto? I thought that it was just a day

There is ONE thing that would make this whole thing worth it for me. 300k down the drain, but there is ONE thing.

On Friday's AMA, if it's not canceled of course, Mashinsky steps onto the screen. His arms are trembling, dark circles under his eyes. You can see he's had a bit to drink, and one of his eyes is slightly lazy, clearly exhausted.
Slowly, his arms move out of screen and then you see it. Mashinsky is holding a shotgun. He slowly turns the shotgun around to himself. And then his brain splatters all over the blue Celsius logo. A small bit of it falls off the "C" onto the ground. 20 seconds later his wife walks in and screams.

I'd lose $300k for that.

>>49688028
Are you joking? They literally lost everyone's money and are bankrupt. Tether more or less confirmed this. This isn't a "1 day" thing.

>>49687503
nobody's grooming people into blowing away CEOs and politicians for some reason.
The logical conclusion would be that the people doing the grooming are or are associated with the groups that aren't getting blasted.

>>49687581
Gemini is also FDIC insured and the only exchange besides Coinbase to be approved by the FDNY and SEC.
GUSD is there stable coin and reserves are audited monthly by a 3rd party accounting firm and released to the public. Current APY on GUSD is 6.9% with no lock up period.
It’s founded by the winkelvoss twins and is legit.

>>49688070
Also, a lending network like celsius would know that suspending trades and withdrawals even for one day would permanently destroy any faith in their network, causing a bank run even if one wasn’t already happening.

They would only do it if they were already fucked beyond repair.

>>49687503
whitoids are so docile the only thing they’re capable of killing is themselves. I don’t know why there hasn’t been a revolution yet and why there are still tens of thousands of Jewish bankers, billionaires, politicians, and elite who’s heads are still connected to their necks

>>49688070
Good

I realy hope that if they rugpull everybody and run with the cash when they declare bankruptcy, that some autist at least minecrafts them or something

got totally out of celsius 10 days ago. i feel great honestly

>>49687381
>putting your entire life savings in one basket
kek I know I'm a retard for leaving crypto on coinbase but at least I have money elsewhere

>>49688102
Gemini banned me in 2017 for seemingly no reason except that I wired about 400k into their account with no good explanation. I wonder if I can get back on now though, 5 years later.

>>49688212
If you ever give your economic energy to scams or ponzis or digital illusions of wealth, you are part of the problem

They've given up on dreams of money and are repenting and turning to God now for forgiveness.

>>49688146
Oh wait I just mentioned why. You niggers are too pussy.
And even when there’s a once in a blue moon mass shooting it’s almost always targeted at randoms and not the people who are trying to destroy your soul. It’s so bizarre. I’m convinced westerners are under some form of mass MK ultra mind control. A sniper from hundreds of meters away at high profile targets can hypothetically (not too high) can do WONDERS for the world. But instead they kill innocents who’s deaths will be used by the same elite to further their agenda against us all. I’m not advocating violence here, it just baffles me hundreds of millions of people are just taking the beating. Millions are suicidal or have killed themselves, they chose to take their anger out on their own bodies instead of those truly responsible.

Anyways glad I’m not holding crypto. Almost fell for the trap a few months ago but glad I resisted otherwise I’d be in the same boat as the rest of you. I can honestly say at this point crypto has probably caused more suffering and death than would have happened if it did not exist to begin with. Sincerely anons, stop investing.

>>49688360
Nothing wrong with this. When money is all you think about 24/7 and then you lose it, it's hard not to be suicidal. I'm in the process of putting my money aside and trying to find a new hobby or something, unironically.

>>49687381
This is why I don’t feel bad. They’re all degenerate gamblers and felt smug about it. “Free money!” Nothing’s free in life, you take proportionate risk and you accept any potential consequences. If you don’t know what you’re signing up for it’s nobody’s fault but yours

>>49687232
What a load of bologna. No one can be this dumb

>>49686947
They're in insolvency now. Begging won't help. If they don't want to go to jail they're not going to be paying small creditors preferentially.

>see le UNBANK YOURSELF WITH 20% APY tweet
>don't question how that could be possible or sustainable
>throw all your money at it because you're totally gonna be le rich
>everything implodes
How could I have known???

>>49688249
maybe, but when i started around may 2021 the APY where legit. binance was giving 10% on usdt with no locking and celsius was giving 12% on usdt too (more if you chose to be rewarded in CEL tokens). it doesn't seem that crazy back at that time and i didn't went all-in in it. anyway it's the latest months, after LUNA, when binance and others were giving something like 3% USDT APY above 2000$ and celsius was still at +7% for weeks i thoughts something was off. i waited a bit because i was busy but hopefully i did it on time.
what i mean is that it was kinda legit in the first months of the bullrun and i feel sad for people, who could have be me, not withdrawing at time

pic is LUNA

>>49688410
It's amazing how money stops mattering when you're 5-6 figures in the hole.

>>49688462
this is why i've been saying to watch for a bailout or acquisition. Institutions are looking to buy defi protocols, which is why they crashed the market.

>>49688516
It absolutely is cope. I'm not denying this. I'm saying cope is better than actual suicide.

>>49686947
The Third Stage of Grief: Bargaining

I listen to old Art Bell episodes and one recently was about a lady who remote viewed and bet on the stock market.

>>49688363
criiinge

>>49688585
Kill yourself then

>>49688360
He is right. Jesus loves us. that is actually a good post not a cringy one.

>>49688489
>the ponzi was legit as long as more fresh cash was flowing in

>>49688625
This. Losing a lot of money has changed my perspective in that I can't value my entire life's worth on how much money I have anymore. To do so is death. Yes it's cope but there's nothing else I can do.

>>49688360
>Lost money to imaginary coins
>Ends up talking to cloud fairy
Makes sense

>>49688360

this is based

>>49688489
>what i mean is that it was kinda legit in the first months of the bullrun
no it wasn't
it's just that it's easy to keep these scams going when a delusional bullrun of normies is going on

>>49687503
Because the rhetorical redditor stance of "kill your oppressors" only works online and when you have one elite group that wants to replace another elite group. You will never get a scenario where the 'good' people take over from an overthrown or murdered king. Cryptobros also hold no high ground in this situation while they willingly hand over their savings to schemers and frauders who they only had thousands of people and common sense to warn them not to trust
>but it's weird to me that there multiple people willing to shoot up a school every year
Because shooting up schools has become immortalised in American culture. You'll forever be an 'icon' for a town or state. As horrible as it is, being a school shooter makes you famous. Killing a CEO will be forgotten in a year unless it's someone like Elon Musk or Bill Gates.

>>49688360
likely the oldest cope in human history

>>49688787
At least I have the fucking balls not to call for regulation when my savings are stolen. I wanted a "wild west" financially for me to make my own decisions and I fucking meant it.

Also
>Kill the CEO
>Some partner gets a promotion
There's not a whole lot it accomplishes.

>>49686947
>ser do not redeem just give refund
>ser just dont

>>49687548
Georges Besse is a pretty famous example, there's a few other from that time period

>>49688827
>At least I have the fucking balls not to call for regulation when my savings are stolen.

And that, whether for good or bad, makes you the minority when it comes to the grand scale of people. Outside of /biz/ and libertarians, I mean.
Whether Crypto lives or dies, Cryptobros and their endless scams only helps the current financial world by reminding everybody why it is essential to have strict financial regulations.
These people think they are futuristic geniuses making bank (while simultaneously stealing the money from other people) and “discovering” all the same problems with unregulated and uninsured banking figured out 100 years ago.

>>49688625
He wants a lesson from God? Here's a lesson from God:

"A fool and his money is soon parted."

>>49688045
I've had bank accounts for over 30 years now and never, not even once, did I have a problem of accessing my money
where the fuck did this "banks don't give you access to your money" meme come from?

>>49687107
looking forward to the gender reassignment post

UNBANK'D

>>49688664
It's not a ponzi scheme, they literally just made bad investments. This is no different than a etf having high historical returns and then shitting itself.

>>49687943
What type of bird is that?

>>49688911
>Whether Crypto lives or dies, Cryptobros and their endless scams only helps the current financial world by reminding everybody why it is essential to have strict financial regulations.

Kek, how many tens of trillions has the stock market lost in market cap while crypto has been going down?

Capital injection secured announcement soon, this will unironically blow over by this time next week

>>49687325
Honestly, if I gambled and lost a few hundred, I wouldn’t mind. These suckers put in their life savings in. Honestly they have few other options

>>49687468
>These people are so fucking retarded. I have money in crypto too but I don't go all in because I HAVE TWO FUCKING BRAINCELLS

> not going ALL IN

ngmi

Wasn't the Luna stuff worse than this? Any screencaps from those?

Qrd on Celsius? Have been out of crypto since jan.

>>49686947
>18% "risk free" interest

Why do normies/niggers keep falling for the same Bitconnect scheme EVERY TIME?

Its so aggravating when people think celsuis is crypto. Its a fucking bank. Just hold real crypto like BTC and ETH, you don't need APRs if you have SOUND MONEY THAT DOESN'T INFLATE to begin with. And if you want to get APR put it in a defi lending platform for LP that is non-custodial and you control the keys and can literally read the fucking code if you want. Instead you gave your SOUND MONEY to a centralized BANK and were surprised when they took it.

>>49687939
In this case, Celsius does not want to admit the dire state they're in until they have to. They're going to implode so they might as well keep customers in the dark while they have more time figure a plan of action in the fallout.

>>49689242
Because they are gambling addicts who think they deserve money for nothing.

>>49689134
and my other post

>>49689134
Please dear god no. That was 100x worse.
>>49689198
Celsius paused all withdrawals and Tether leaked the fact that Celsius was liquidated. They've also hired bankruptcy lawyers, which the WSJ reported on, and they've been completely silent about the entire situation.
It looks very much like all Celsius holders are fucked.
There you're caught up.

>>49688927
In 2008 there was a bank run in Greece and they halted bank withdrawals. It happened again once in China in 2015 I think, very small incident with one bank or something. But it's incredibly rare. It's just a scare meme to get you to buy crypto where it's an every day event to have your accounts frozen (rug pulls, defi rugs, smart contract transfer freezes, etc)

>>49689260
Holy shit you actually think bitcoin or ethereum is sound money.

OHNONONONO the ledditors are not taking the Holy Word's of Alex well and are becoming Fiesty!

>>49687381
Fuck normal banks giving me 4% on savings accounts…

>>49689287
Sorry I'm new, can someone give me the qrd on pegged cryptocoins? Like, what's the fucking point?

>>49689384
Do Kwon said the exact same thing 100 times over.
>Thank you to the wonderful ____ community!!
Every fucking time.

>>49689242
Because as it turns out, in order to get well off, you have to either be born into wealth, or provide a service in society. (or more accurately, have a skill that makes your service difficult to replace)

>>49688927
Happened in Canada

>>49688927
>>49689342
Banks can also deny access to your funds if they suspect fraud/money laundering etc.
That's another (weak) argument in favor of crypto.

>>49689342
Banks absolutely freeze your funds and refuse to pay out when you deposit a large amount for no reason. What are you on about? It also takes days to transfer any significant bank funds, sometimes with huge fees and wiring fees, and they have extremely strict limits about how much you can take with you anywhere in the world. And they have the audacity to call 0.5% a "high yield bank account" or some shit. People in crypto to escape banks have a perfectly reasonable point.

>>49689355

BTC has lower long term inflation than your PMs. 1 BTC is one out of 21 million, and that will never change, you do not need an APR on top of that to make up for it. And compared to fiat which is getting 10%+ of its supply printed every year holding BTC is like having a 10%+ APR.

>>49688212
If you were dumb enough to have money there in the first place then you're destined to lose it at some point anyway

>>49688927
Crypto fags grifting bank runs in the 20s or whatever. Literally that’s it. There hasn’t been bank runs since. And if there are real legit bank runs, I don’t get how these absolute retards think their digital Monopoly money will be worth anything in post apocalyptic society.

South Korean crypto exchange have formed "The Alliance" and are refusing to accept crypto sent to them from outside of "The Alliance" nor are they allowing anyone to send crypto outside of "The Alliance".

I have a special exception because I registered a Binance address with my Korean exchange but you should all realize how fucked it is over there. Private wallets are essentially illegal.

Mashinsky fucked up but hating banks is not a bad thing.

>>49689342
banks restrict access to customers money on a daily basis, the idea that only a nation scale bank run counts is pretty jewish anon

>>49689355
based self banker

the sad thing is, there are retards on this board right now, laughing at luna and celsius users, thinking their tether are safe.

>>49689520
Blah blah, my feces on a piece of paper has a circulating limit of one, I’ll never make another so therefore it has value because it’s scarce right? Scarcity does not give value, you need utility to have intrinsic value, you can’t *do* anything with a bitcoin, it has no intrinsic value

>>49688927
>where the fuck did this "banks don't give you access to your money" meme come from?

There are a set few examples and historical occurrences where you may not be allowed to withdraw money (Money Laundering evidence, for example, a few banks in 2008 Greece)
Of course, according to Cryptobros, Banks having an extremely limited, but existent history of restricting funds means that having a quasi-decentralised authority seize your funds at any time, for any reason and not allow you to withdraw on a bi-weekly basis judging by the amount of coins popping, is somehow better and is justified

>>49689592
Note that to register the Binance address, I had to film myself logging into Binance using the same phone number (tied to my government ID in Korea) and then get it manually reviewed by the Korean exchange team. The first 3 times I tried it the phone numbers did not match or were not visible enough and I had to repeat it.

It's completely pozzed to hell and there is a legitimate case for "unbanked" people to freely access their money here. Celsius fucked it all up by gambling though.

>>49688086
i've reported your post for being anti-Semitic

>>49689632
Nobody is referring to historical examples. Banks refuse to allow withdrawals to certain customers for various reasons every single day. This is what they're complaining about.

>>49688232
There's nothing wrong with storing crypto on a reputable cex in spot positions, unless of course we're talking 7+ figures

>>49686947
>biz humor thread

>>49689623
you can hodl it
you can send it to someone else
can anyone think of a third thing? keeping in mind, any object can perform the first two functions

>>49689623

Another retard who doesn't understand scarcity. You can make however many shit papers you want. That has no scarcity. You can't make more bitcoin out of thin air. Just like alchemy doesn't exist to make gold. Scarcity has utility as money which gives it value. Value through utility just like every commodity. Use your brain for a second. Why does Gold or the dollar have value but you think bitcoin can't? If gold has value, then Bitcoin is even more valuable because its more scarce and easier to use.

>>49689501
>Banks absolutely freeze your funds and refuse to pay out when you deposit a large amount for no reason.
What's a large amount? I have heard stories of people transferring / depositing $1 million + and not have any issues. What are YOU on about?

>It also takes days to transfer any significant bank funds
They have instant bank transfers too

>sometimes with huge fees and wiring fees
Maybe a $25 wiring fee? Not anywhere close to $10,000 transfer fees though when the BAYC land sale went up

>and they have extremely strict limits about how much you can take with you anywhere in the world
You can use a debit card / credit card anywhere. You can withdraw at a bank in your country and then put it all into a suitcase to another country.

>And they have the audacity to call 0.5% a "high yield bank account" or some shit.
It's guaranteed 0.5% with safety at least. It's not an imaginable 9% interest rate with a 97% chance of rug pull or hack that will drain all your money

>People in crypto to escape banks have a perfectly reasonable point.
Except if you want to use crypto anywhere you have to withdraw back to your bank to buy anything

>trusting your life savings to a jew
Sometimes I wonder if these people ever learn... I mean what the fuck, bro?
I bet that if I said this to their face they'd get all sanctimonious about sucking jew dick too, so I guess they deserve it, but it is a sad psychological experiment nonetheless.

>>49687381
Let's be honest a lot of smug assholes on /biz/ said the same, how they "cashed out" at 60k, by which they actually meant converted into stablecoins and put on Celsius/Nexo/Blockfolio and being super proud of their 10% interest or whatever. Meanwhile I have double digit BTC sitting on a USB stick and I don't feel bad at all about those interest rates I'm missing out on.

>>49687503
people have been dulled and any sense of self-worth or pride has been eroded away by the powers that be

>>49689742
>you can’t make more bitcoin

May I remind you a certain doge coin uses the exact same code as bitcoin. Why is bitcoin sound money but doge coin isn’t?

>>49687381
>>49687480
I really don't understand redditors. Do they think thay 9% interest is magic money? It just appears out of nowhere? That it doesn't mean the entity they trused with their LIFE SAVINGS is taking very high risk?

>>49689743
How can you look at this and think that this is trustworthy.

>>49689851
cuz uhhhhh
well ummmm
btc was like, made first.
owned

>>49689562
were you asleep during 2008?

>>49689851
>Dogecoin doesn't use the exact same code as bitcoin.
>Dogecoin is inflationary

>>49688020
Why do you have a reddit account?

>>49689956
they're both internet coins whose only function is to move back and forth

>>49689851

Doge is sound money too, but it has slightly more inflation. But bitcoin is the first and is the most widely adopted so will always be more valuable. Just like how there are metals and other substances rarer than gold, gold is shiny and easy to make jewelry out of so people just picked gold. Just like there are other fiat currencies than the dollar.

>>49689784
>What's a large amount
I've had funds frozen for transferring over $400k into Wells Fargo. They're frozen until the bank is satisfied with their sources. Their sources shouldn't be any of the bank's business.

>They have instant bank transfers
I'm referring to transfers between banks, not within the same bank. They have it for miniscule peanuts amounts of money. Absolutely meaningless.

>Maybe a $25 wiring fee?
More like $25 to receive and $35 to send, at least.

>You can use a debit card/credit card anywhere in the world.
Not even remotely the same thing and absolutely not true. South Korea is a great example of this. If you try to bring money too and from South Korea, your suitcase will be searched and money confiscated. What you described is entirely illegal and the banks in South Korea will not even wire more than $50,000 outside of the country per person per year without a VERY good reason. Crypto gets around that.

>It's guaranteed 0.5% with safety at least
No, it's not. The "guaranteed" ones are usually 0.01-0.05%. 0.5% is "high yield" with slightly more risk than the "guaranteed" ones.

>>49689945
Not him, but Cryptobros certainly slept. They saw poorly regulated banks doing bullshit and handing out loans willy-nilly. and decided that LESS regulation was the magical solution.

>>49689854
In theory you could program a smart contract to do exactly what Celsius claimed it was doing, with no middleman at all. The reason Celsius was popular is because people like a central authority to call and presumably pay out insurance if there's an error in the hypothetical code.
That's what these people thought was going on.

>>49689971
So I can attempt to push redditors on the edge to suicide

>>49690046

Celsuis is not fucking crypto. Its a literally a traditional bank. No legit crypto user would use centralized shit like Celsius.

>>49690090
It's like crypto, but more retarded. All the cons of crypto and none of the benefits

>>49690004
>Doge is sound money too
absolute state of crypto fags

>>49690046
yeah it's asinine, no doubt. but there were several bank runs, not in tree dwelling countries but the US, which is what I was referring to.

>>49690090
lol this board was filled with retards using celsius and talking about how great it is for a whole year.
now we're gonna do revisionism and act like everybody was totally sketched out by big bad celsius. ok

>>49688670
Its not cope ignore the greedy ass people on this sub. Eventually they too will fall

>>49690118
Yeah there’s really no point in replying to somebody who says doge coin is sound money. No further insights can be gained, no common ground can be reached because our view of reality is so fundamentally different.

>>49686947
Crypto is a LOT like the wildcat banking era. Back then, you had entire cities and states all wiped out

>>49690090
My point still stands. I genuinely cannot fathom how Crypto, supposedly built on anger at the 2008 crash, somehow saw banks that had a loose leash and handed unsustainable and unrepayable loans out to anyone who asked, resulted in Crypto because an anti, rather than pro regulation movement.

>>49690194
I have the balls to admit that I'm coping. But like I said, it's better than killing myself. $300k loss is enough to make me really want to do that.

>>49687864
toppest of keks in months
Great post and comment lad
Cheers

>>49689888
Just have to court people who think the banks are the problem because of da joos and those who think we're going to have an apocalypse any day now and the internet will still work. A sucker born every minute.

>>49689854
I'm getting 7% on my LINK stack on bancor. In theory it seems sound. It's DeFi. My money is in a smart contract outside their control, the money I get paid is generated off of swap fees so it's real value and not some bitconnect shit. Their security audits are stellar. Despite all that I still feel kind of icky about not having my link in my ledger. I wonder if I'll come to regret this in the future.

>>49690118
>>49690196
Doge's inflation is on the level of gold's from mining. Doge was literall 0.25 cents just three years ago, still up over 20x against the dollar since pre-covid.

>>49690157

A bunch of newfags using it during the peak doesn't make it crypto

>>49690230

Look, crypto people want regulation, but they want FAIR and TRANSPARENT regulation defined by open source code, not corrupt government regulation and intervention decided behind closed doors, or government by corporations and private businesses.

Celsius is not crypto. Its literally a fucking trad bank.

>>49690021
>I've had funds frozen for transferring over $400k into Wells Fargo. They're frozen until the bank is satisfied with their sources. Their sources shouldn't be any of the bank's business.
If you can prove the transfers are legit then you have no problem. This would be a great feature in crypto to prevent rug pulls. If someone rugged $400k+, they can't transfer it and have to give the money back, now wouldn't that be great?

>I'm referring to transfers between banks, not within the same bank. They have it for miniscule peanuts amounts of money. Absolutely meaningless.
There's definitely ways to transfer money from one bank to another instantly. Even if there is a delay, that's just to make sure it's all legit for point above.

>More like $25 to receive and $35 to send, at least.
Oh no $60 total. That's one uniswap swap on a good day. On BAYC land sale it reached $10,000 to run a function on a smart contract

>Not even remotely the same thing and absolutely not true. South Korea is a great example of this. If you try to bring money too and from South Korea, your suitcase will be searched and money confiscated. What you described is entirely illegal and the banks in South Korea will not even wire more than $50,000 outside of the country per person per year without a VERY good reason. Crypto gets around that.
You can also just bring a check and write it to someone in any country. You might get a phone call from your bank to verify if it's legit, but that's a safety feature in place so that no one can just steal your checks and take all your money.

>No, it's not. The "guaranteed" ones are usually 0.01-0.05%. 0.5% is "high yield" with slightly more risk than the "guaranteed" ones.
If it's FDIC insured then at least you don't lose money up to $250,000

>>49690090
If it's a legit bank, then it's backed up by the FDIC and everyone will get (within limit) of their money. But if they're not FDIC insured, they are not a "traditional bank".

Somewhat similar to something that popped up before/during the 2008 crash; where foreign banks offered deposits in US locations which paid interest in foreign currency.


>>49690230
Crypto, of course, only has "value" because people believe it has "value". But it has no intrinsic value; which means it can go to zero.

To me, it sounds like what they did is to try to replicate what happened with gold.
> gold only has value by consent
> we'll do the same thing
> this time coin
> since we start with all the coin, that makes us the richest people in our new Utopia.

>>49690308
>Doge's inflation is on the level of gold's from mining. Doge was literall 0.25 cents just three years ago, still up over 20x against the dollar since pre-covid.

dude it pumped, therefore sound money

>A bunch of newfags using it during the peak doesn't make it crypto

it wasn't just newfags. plenty of the 'OGs' got sucked into this nonsense
everybody who lost money in celsius 100% deserves it. one HUNDRED percent. you contributed to the ruination of crypto. FUCK you

>>49687381
how could anyone go for that and not realise the risk involved?

>>49687921
Yet this board and reddit is full of faggots calling Celsius DeFi and saying "so much for decentralization." This is why we need bitcoin to drop down to 4 digits for a couple years. To rid ourselves of these people.
>inb4theyareallmerelypretending

>>49688363
>it’s almost always targeted at randoms
Retard.
They are fake intended to take our guns because we are a major threat while armed.
Are you ACTUALLY fucking retarded to not get this?
Your docile point is correct generally, but follow your own logic assclown.

>>49690021
>More like $25 to receive and $35 to send, at least.
dude are you seriously bitching about these fees? have you done anything with crypto at all the past year? lol

>>49690386

What is your point? Doge's inflation model makes it more sound than gold. Now its security is iffy since it doesn't have anywhere close to the hash rate of bitcoin and doge has almost no developers. But from a supply standpoint it is more scarce than the dollar. My point wasn't that doge is going to appreciate in value but why Bitcoin can have scarcity even though other coins exist like doge.

>it wasn't just newfags. plenty of the 'OGs' got sucked into this nonsense

Not your keys, not your crypto, no real crypto holder used Celsius or blockfi, or any of these banks

>everybody who lost money in celsius 100% deserves it. one HUNDRED percent

100% agree, so fuck you if you lost money. You put it into a centralized bank. Next time hold your own crypto like you are meant to.

>>49688360
christcuck cope

>>49688927
Wow. Biz is fucking back.
The red really makes this place great.
I've boisterously laughed three times in the last 15 minutes.

No refunds.

>>49687107
> 5 figures

can be made back in a single year with a couple of paychecks on an average salary, kek. Then buy 3x leveraged ETFs when market hits bottom.

>>49690347

Has nothing to do with FDIC. A trad banks takes deposits, then lends it out. So there is always the risk of there not being enough liquidity for people to withdrawal if there is a bank run. This is 100% what celsuis is, its a trad bank, just not with fiat and so doesn't have FDIC or w/e cucked government blessing you want.

With bitcoin, your piece of the pie isn't diluted by inflation so you don't need an interest rate just to break even.

>>49690531
The best part is they have no legal recourse.

>>49688827
if ceos or politicians were hypothetically killed on the regular, their replacements would have to consider whether it's worth staying the course and following suit
they're not automatons or idealists, they're self-serving above all
cattle just enjoy their chains, anything else is an excuse

>>49690576
that "cucked government blessing" is the difference between people getting all their money; or getting nothing.

>>49690587
ive heard some redditors cope by saying they have the ability to sue as an unsecured creditor in bankruptcy court
they actually think they have a snowballs chance in hell of getting their money back in this way

>>49688360
He got a blessing bigger than he could imagine

>>49687107
>Can't sleep because he lost money
Kek redditors are so fucking weak

>>49690617

If FDIC insurance was ever needed for a major US bank, your dollars would be fucking worthless anyway.

>>49690576
>With bitcoin, your piece of the pie isn't diluted by inflation so you don't need an interest rate just to break even.
um, sweetie, i dont know if you noticed, buuuut bitcoin isn't exactly an inflation hedge.

>>49690666

In the short term price is driven by speculation. But in the long term there will always be a maximum 21 million vs an ever expanding money supply. The bitcoin-fiat exchange rate will fluctuate around a steadily increasing average.

>>49687503
but they didn't do anything wrong. they lost their money, too

>>49690576
It’s technically not a “bank run”, it’s a just another margin call

>>49690647
Not true. In the last 30 years, several banks have gone under. But no one lost their money.

It's simple.. you play by the rules, at which point you can be part of the mutual protection; or you go off on your own but are responsible for your own problems.

Sure, crypto could figure out their own version of FDIC; or how to stop people from losing 1/2 their value in a week; buy they won't do it in time to protect all of the people who have now lost everything they put in

>>49688927
My bank is also my broker and they blocked me from selling GME at $400 during the very first squeeze. By the time they unblocked selling GME it was at around $250. Ended up only making 5k profit instead of almost double (bought in at 88).
A lot of brokers were being forced to halt trading on GME during those days, but I'm with a fucking Canadian bank/broker so it's extra pathetic that they did it too.

>>49690317
>If you can prove the funds are legit then you get to withdraw
This is like the "if you're not breaking the law you have nothing to hide" argument.

Amerifats who live overseas, any reputable brokers to invest in S&P500 and other big indexes? The big American companies won't touch me because I'm a 'foreign tax resident' despite being a US citizen

>>49690531
ITS OVER

>>49690749

You don't need "insurance" from a centralized third party for bitcoin. It works based on open source code and cryptography. The entire point is that you don't have trust anyone. You only have to trust the math that backs it.

You are not realizing you don't need an interest rate on sound money. You have been brainwashed into thinking you're making money because you get 1% in your savings account when monetary inflation is >10%. Your share is getting diluted by 10% every year even with an interest rate in a bank.

Do you get it? With bitcon there is almost no monetary inflation, you getting equivalent to a 10% interest rate just holding bitcoin in your own wallet. No trust in a bank or anyone else required. You don't need FDIC or the government to tell you its safe, while printing trillions and distributing it to cronies behind closed doors.

>>49690046
>poorly regulated banks
Regulations today are exactly the same.
Imagine seeing a problem caused by the government and thinking:
>you know what will solve this? more government
peak reddit midwit shit

>>49690842
Learn to forge documents. They won't do shit.

>>49689419
To avoid volatility of the crypto market, and to make trading pairs easier. Example, easier to trade BTC/USD than it is BTC/ETH or any other volatile pair. You can make sense of your profits better.
Some stablecoins are built on magic algorithms, some are "backed 1:1" by physical cash reserves from companies (who take a slight cut on issuing out/buying back their stablecoins for profit).

>>49690157
Clearly you are a very fresh newfag. I used them for a couple months early 2020 for the free btc promo codes and /biz/ was fudding them even back then. It was /biz/ that discovered the GDP shit in late 2020 as well. Only Linkies defended them for some reason.

>>49690890
>You don't need to trust anyone with Bitcoin. You just need to trust the math behind it.
"You need to trust the man who told you that the math behind it was legitimate" is true for 99+% of all crypto users. Not that they want it this way, but they MUST have it this way because their brains are not capable of "trusting the math behind it." This isn't a trivial problem either. People assume other, smarter people are auditing this space and go along with it "trusting the math" when they're not. I honestly think this is what happened with Celsius. Everyone is acting like all the investors 100% knew all the risks and invested anyway, in which case they're idiots. I think most of them use other people as a proxy and assume "somebody is checking the math" and that's what happened.

Now, you or I know that Bitcoin is safe because we have the ability to verify it. But for most people, it's as safe as Celsius. Both cases are just somebody else claiming to have "checked the math" for them.

>>49690637
Redditor wants to start a class action lawsuit.

>>49690950
They are useful for smart contracts too.

>>49687277
kek

>>49691000
Which is how all bubbles work. With tulips, beanie babies, or McMansions; what you count as value is someone else down the road paying you more.

Hey guys im from /po/ (yes /po/)

Was the last crash like this LUNA? Did I miss anything in between that and Celsius?

>>49691000
Your argument is fucking retarded. Nobody can independently audit Celsius. Hundreds of thousands of software developers are constantly auditing crypto code because it will make them millions if they find a problem.

>>49688610
ok federal agent

>>49691104
>Hey guys i'm from /po/ (yes /po/)
This made me laugh harder than I've laughed in a week

>>49688360
this is hilarious and sad

>>49686947
The suicides from this will help alleviate the food shortages if only just slightly.

>>49691000

Sure, just like the government tells you to trust them, FDIC means its safe, and you are "earning" 1%. The reality is 10% of your wealth is being siphoned off every year.

But of course most people "trust" the government. Obviously, because so many retards here are falling for this trap that they think because Celsuis failed then government regulation is good and needed.

But again, CELSIUS IS A CENTRALIZED, TRAD BANK.
CELSIUS IS NOT CRYPTO.
Celsuis failing literally proves the entire point of crypto, decentralization, trustless security.

A lot of people are too stupid to be saved early one, but over time when bitcoin hits yet another ATH, gas, food, and rent still get hiked up in price year after year, while middle class wages purchasing power falls and falls, while the top 0.1% concentrates even more wealth. Maybe more and more people will see through the fiat confidence game and government/central bank policies are what is driving poverty, wealth concentration, and corruption.

>>49691134
My argument is that your dumbass coworker has one friend telling him "Bitcoin is fucking legit man buy Bitcoin" and another friend telling him "Celsius is fucking legit man buy Celsius" and when he tries to look up which is better, both sides make the same claims. He can't understand the code behind either so to him they look the same.

>>49686947
So did they stake their coins on the Celsius network and aren’t able to unstake it or what?

>>49687503
I've always thought this was weird as well, if someone ruined your life to the point of suicide why wouldn't you just go kill them yourself?

>>49691183

You don't have to understand it on a technical level to benefit from it. The fact is you won't lose your bitcoin regardless of whether you understand the code.

>>49691212
>The Celsius network
Celsius isn't crypto so this is nonsense. Celsius is like a bank. And the bank just lost everyone's deposits.

Guys, I just want you all to know, that Celsius will pay us back. How do I know this? Because:
Alex Mashinsky is the INVENTOR OF VOIP. There is NO WAY he is gonna scam me.

>>49686947
Anyone "invested" in this took the bait and gets what they fucking deserve

>>49687501
demon world anon. these jews are evil

>>49690730
yeah, but this means nothing if nobody wants it because it isn't money. there are lots of fixed supplies of things that never actually appreciate ahead of inflation.
the whole point of this was that there wouldn't be wild speculation that would push the dollar price of 1 BTC through the roof, and there wouldn't be insane transactional fees from an overcrowded network, and there DEFINITELY wouldn't be 10,000 alternate choices when people realized how you actually play crypto is not to get into the BTC ponzi scheme late, but to just create your own new ponzi scheme.
the last thing that will die is this whole thread's subject. notice how it was created to collect salt and yet it's 10x as much full of "decentralized finance" COPE. nobody cares that you hate banks. the right thing to do about that wasn't to autistically hand your entire life savings to grifters that promised high yields. it was to continue using banks and continue bitching about it over beers with your buddies.

>>49691008
The laws are very clear about this and Celsius has proper risk disclosures and fine print that normies didn't read. It will go nowhere, and all they'll end up doing is giving (((them))) even more money than they already have.

>>49691242
This is great news

I just deposited another 5,000!

>>49688360
It's a cope but it's a positive cope. Instead of delusionally thinking up ways in which he won't have lost it all, he's making peace with the outcome. That's better than 99% of the retards that were in this.

>>49691340
At least better than to kill yourself. That's simply retarded, especially over money.

>>49691275

Stupid fucks calling for more big government regulation where it isn't wanted is my Celsius salt.

>>49686947
Lmao if they could "just make it work" they wouldn't be in this situation in the first place

>>49691340
>>49691436
Like I said above, I had to do this when I lost a lot to UST. 6 years of savings gone now and there's nothing I can do but keep waging.

>>49687232
>just pay out the poorfags
Lmao how would this be the moral thing to do?

>>49687864
Nobody claimed centralised shit is the future of finance

>>49688363
>glad I resisted otherwise I’d be in the same boat as the rest of you.
What, richer than when we started? lol, fucking newfag paki.

>>49691231
I obviously didn’t know anything about the situation but you managed to be condescending about it so fuck you you jew hating faggot.

>>49691104
LUNA collapsed due to massive design flaws and an incompetent CEO. It wasn't malicious by nature, but was extremely vulnerable to attack and their management kept ignoring valid concerns.
Celsius was just a classic Ponzi. They promised 8-13% annual interest while claiming to take zero risk. They never had a proper audit, claimed to get income from institutional borrowers but never provided their names. Even placing assets in DeFi protocols could not explain their returns (half of their ETH was in Compound/AAVE ffs, giving 1% returns, while promising their "investors" (suckers) 6%. Celsius is now illiquid, was clearly paying off older investors with the newer investors' deposits, and a bunch of redditors dumped their life savings on it.

>>49690894
>Regulations today are exactly the same.

>Dodd-Frank Act which beyond it's specified purpose, also updated old laws such as the Securities Act of 1934, Securies Exchange Act of 1934, Investment Advisers Act of 1940 and Sarbanes-Oxley Act of 2002. Other changes such as the creation of the Financial Stability Oversight Council and the Consumer Financial Protection Bureau occurred.
>Emergency Economic Stabilization Act 2008
>Federal Reserve carries out regular stress testing on banks in the banking sector as part of Dodd-Frank
>SEC Liquidity Reform of Money Market Funds
>SEC and CFTC Reporting Requirements for Private Funds
>OCC Reforms for Short Term Investment funds
>SEC Structural Reform of MFFS's
>SEC Investment Advisor Data Enhancements
>SEC Rule on liquidity Risk Management Programs and Swing pricing
>SEC investment company reporting and moderisation rules
>SEC Exchange-traded funds rule

And that's only a fraction, and that's only in the United States.

glad that i sold my cel bag and switched to hbar once i learned about the hbar foundation allocating over half a fucking billion in funds to accelerate the growth of hedera

>>49686947
>Trusting in a private company
Retard

sometimes number go up
but sometimes number go down

>>49691624
Sorry for being condescending I guess. I honestly don't think saying that what you said is "nonsense" is that bad. I'm attacking your words, not you. You're probably a pretty smart guy.

>>49688432
Just look at /biz/.
Months ago people were thinking crypto was a investment

>>49687583
i know /biz/ rages against him but i will always appreciate peter making retards seethe when they can't answer his simple questions

>>49691739
Celsius offered 7.15% on USDC.
Voyager, a public company, offers 6% on it and up to 9% for small amounts (under 100k).

You're saying Voyager is more trustworthy?

>>49686947
The money is gone, they can't give you more than pennies on the dollar.

>>49688412
This soo much
I'm finally having my revenge.

I was a victim of bully by these retards, now they're all poor

>>49691812

Voyager is centralized shit too. Its crypto. Use actual defi. Don't be another idiot using centralized shit and complaining about crypto when it fails.

>>49688412
>started investing recently
>picked a few ETF/Mutual funds based on the S&P because why not
>Down 8% in a week

Guess since I have invested in it, the S&P is going to rug.

>>49691869
>Use actual Defi
LUNA?

>>49690481
Take your meds

>>49687373
Really tragic situation to be honest. It sucks to have your finances in the hands of someone who could decide on anything without penalties, good thing I only stake on decentralized yield platforms which won't lock withdrawals. Don't know how I would have coped with this.

>>49690481
An actor won't faceplant straight into concrete retard, no matter how much they're being paid

>>49688536
>Institutions are looking to buy defi protocols, which is why they crashed the market.
Celsius isn't defi or a protocol

>>49690481
>we are a major threat while armed.
Where were all these gun-owners when the supposed authoritarianism of the last few years ruled over their lives?

>>49688827
>At least I have the fucking balls not to call for regulation when my savings are stolen
This means that you're retarded.
Regulation prevents, or at least soften, financial crashes

>>49689623
The intrinsic value comes from the BTC network. It's the first successful e-currency based payment network and it's decentralized. You could send BTC to anyone on the planet as long as you know their address and there's zero obstacles to creating your own address. More importantly, it has zero reliance on the US dollar nor can the US nor any other country can dictate what transaction can pass. This is important because the current financial system is dominated by the US dollar and any country that decides they don't want to deal with the US dollar anymore will effectively get blacklisted from the global economy.

To understand the BTC, you have to know the history of the US dollar. Contrary to the normie's belief, crypto is not a solution looking for a problem, there is a massive problem the BTC aims to solve.

>>49691968
Also prevents the kind of growth that led to my wealth from 2017-2021. It's a net positive for me, still.

>>49686947
Not your keys, not your coins.
Let this be a lesson.

>>49687707
The main problem is that they're not really "customers". They're more like creditors.

>>49691908

No, actual defi. Start with blue chips like aave or curve (making sure you only do pools with tokens you trust). Then DYOR to expand from there to get better yields. Luna was easy to spot as a risky, broken system, many people called it out. If your token needs to be actively "protected" by some entity then you know its fucking centralize shit or broken.

With power comes responsibility and if you can't control yourself from being lured by hire APYs to ponzis and scams then stick to just holding sound money like Bitcoin and ETH.

>>49686947
Jfc, imagine ever giving custody of your bitcoin over, holy fuck.

>>49691968
Then we call for decentralized justice, or "deju". Either we take them to kleros court by pooling all over our pink tokens together or we pay them a visit in the metaverse and deliver some dao justice and adjust their social credit score manually.

>>49687503
Shooters are absolute fucking cowards, nobody is shooting up city council meeting, bankers home office etc etc.

>>49691869
Decentralized is the best way to go

Guys this isn't funny, people are going to actually kill themselves over this

>>49689286
Holy fuck...

>>49687107
>having a beautiful child made in the image of God to love and raise but all you can think about is fiat goybucks

>>49687790
Based and persistence pilled

>>49689661
What? Only for security reasons

>>49692147
anyone who kills themselves over monopoly money deserves to die.

>>49686947
How much of Celsius’s money went to hookers, blow, cars, etc? Because it’s not fucking zero

>>49692032
Spot on

>>49692247
>Only for security reasons
No, for anything they deem suspicious. Again this is like saying "if you've done nothing wrong you've got nothing to hide". It shouldn't be my responsibility to tell the bank whether my money is legitimate. If I committed a crime, the person I committed it against and/or the state should prove it and charge me for it. None of the bank's business.

>>49692199
you need money to raise a kid anon, less you are a innawoods type.

>>49692297
Pffttttt hahahahhahh

>>49689501
>And they have the audacity to call 0.5% a "high yield bank account" or some shit.
It is
>People in crypto to escape banks have a perfectly reasonable point.
Absolutely no

>>49692325
Well this board has changed

>>49687232
>>49687107
>>49686947
HAHAHAHAHAHA THANKS FOR PLAYING, NO REFUNDS. FAGGOTS.

>>49689520
That's precisely why bitcoin is useless.
A currency that does not inflate is worthless as a currency. People realised this about gold a long time ago

>>49691970
The main problem is that BTC isn't used as currency, but as get rich quick scheme.

>>49692367
>A currency that does not inflate is worthless as a currency

Only when your currency is backed by nothing but debt - promises by the government to pay back people in ever increasing amounts of the currency - is when inflation is a requirement. Because fiat is a literal ponzi scheme and only serves to ever increase the spending power of the government. If you have a decentralized currency that doesn't need a government to force you to use it and doesn't need to inflate it to fund wars or bail out cronies, then you don't need inflation.

>>49688360
this would be based if he didn't post it on reddit for upboats...

Oh no, the Jews have decided all-out economic warfare on the goy for dare attempting to claim sovereignty is just beginning.
Quickly, surrender your children and assume the position for Judah's rod before it is too late!

>>49691175
>A lot of people are too stupid to be saved early one, but over time when bitcoin hits yet another ATH, gas, food, and rent still get hiked up in price year after year, while middle class wages purchasing power falls and falls, while the top 0.1% concentrates even more wealth. Maybe more and more people will see through the fiat confidence game and government/central bank policies are what is driving poverty, wealth concentration, and corruption.

If this happens, people will take it for granted and forget and end up getting screwed over when the next glaring wolf and sheep's clothing shows up.

>>49686947
It's just a psy-op by citadel with shorts on the whole ecosystem as well as cel tokens themselves. If no one tries to withdraw there won't be any sort of bank run and that sweet sweet interest will keep rolling in. Then all these fucking retards are getting their panties in a bunch and riling themselves up.. playing right into the hands of the whales.
>> they locked up all the client money in the big short too and look how that turned out.

>>49692297
Why not? This prevents fraud and several other crimes that can have disastrous consequences for the economy as a whole.

>>49692356
I've stopped browsing this shithole when post 16 retards came.
Impossible to discuss finances with people that take crypto seriously

>>49692459
Man, you haven't bothered to read even the basics of macroeconomics.

>>49692438
Price speculation doesn't invalidate what it accomplished. The fact that 3rd world countries have been accumulating and every major banking institution, and governments all over the world have been researching blockchain tech to replicate certain aspects of it over the past 7+ years should tell you the BTC network has succeeded and is recognized as a legitimate force.

What was it about Celsius that made people use it over other exchanges?

>>49692683
No, it shows that speculation exists.
Just remember 2008 and how many important banks were making awful financial decisions.

The fact that rich men invest on it doesn't suddenly make it useful

>>49688212
ignore these fags.
yes you were dumb to use it, but you got out. I tried to warn my bro for months about what was going on, now he's trapped.

>>49692615

If you're saying inflation on its own is beneficial or required, its seems like you're just repeating the same tired pro-inflation dogma, then you don't understand basic economics. At least mention inflation relative to risk free interest rates. Because positive or negative real rates matter a whole lot more to the economy than inflation.

>>49692695
Its got a cool name

>>49692593

What do traditional financial systems have that crypto doesn't?

>>49692793
Regulation.

>>49686947
I feel sorry for them and Terra folks. I wasn't doomed by either.

>>49692695
best yields of any us based firm

>>49687381
How can these retards not understand the concept of counterparty risk? Avoiding it is literally THE only point of bitcoin/crypto. Every new cycle of crypto investors needs a hard lesson, but if you had half-a-brain you could have read about the myriad scams that have already happened and easily avoided this.

>>49687107
>seeing a therapist over 5 figures

Someone explain this Celsius shit to me. I thought part of the goal and appeal of crypto was not dealing with the fuckin banks. Isn't that what it is essentially? Unless I'm misunderstanding, otherwise what utter retards they are lol

>>49692840

So the one who regulates crypto with traditional financial systems wins, hypothetically.

Do you consider stable-coins as a means of manipulating crypto, a kind of regulatory back-door? I'm curious, what do you think is the long-term path for a viable crypto future, or what do you see future financial systems to be, CBDC? Do first gen cryptos, so to speak, live alongside CBDC's, or are they outlawed? Thanks.

>>49692967
That’s what it is

>>49692967
it boils down to greed. simple as

>>49692967
Celsius is basically a bank but without any of the federal regulations, which is why they were able to lock everyone out of their accounts and steal their money. it would be like if i went up to you and promised to give you %10 APY if you give me all your savings and then made you sign a contract that says if your money disappears i am not responsible. would you do it?

hey hey hey

>>49692967

Greedy newfag peak buyers piling into any ponzi or scam without having a clue about the entire point of what they are investing in in the first place.

>>49689355
based silver stacker

I have all my link and usdc on celsius

Its over. Im over

>>49693103
>I have
no you don't lol

>>49690563
>3x leveraged ETFs

>>49689384
>im going to fucking scream
We know.

>>49692967
People failed to educate themselves and got scammed. This is the current thing right now, people assume association with crypto means security, but as you know, if you aren't interacting directly with the protocol, you aren't secure at all, you're putting trust in a middle-man with zero culpability, not smart.

you are all retarded cunts they literally have over $1.6B of assets just on public wallets alone
they will gate and limit withdrawals when they reopen and itll be a big nothing burger. their only fuck up is their wbtc liquidation price being visable at $14k and the fact that they have 324k staked ethereum. at worst clients eth will be held up until 2.0 comes out

>>49687232
this is too perfect

>>49687669
complete idiot. even more retard when thinking you can do no wrong now that youve made all the asshat mistakes.

>>49687503
That's how you know most school shootings are psyops to disarm the populace.

>>49692952
Aren’t yields in crypto a scam? Outside of staking yourself

>>49689814
>Meanwhile I have double digit BTC sitting on a USB stick and I don't feel bad at all about those interest rates I'm missing out on.
anon, you can't seriously be bragging about your double digit bag holding after btc tanked 70 percent. do expect us to be impressed?
and btw, when i pull out, i fucking pull out. i don't cum half in the pussy, half on her chest. i cum all over her fucking chest. to put that into laymen terms, when i pull out every single fucking dime gets converted into fiat.

>>49693266
staking is a scam too

>>49687501
not their keys not their coins
we've been spamming this for years

despite this i can understand choosing to trust an insured, top CEX like binance
instead they went for some dogshit jewish app that basically gambled with user funds and hired an inexperienced pornstar as their "head of institutional lending"

how am i even supposed to begin feeling sympathy?

>>49693241
bargaining is always the most pathetic. trying to make a deal when you have no power in teh situation, no recourse, nothing, it's just the ultimate beta move.

>>49693303
Not necessarily

>>49693293
>pussy
>her

>>49693266

They're variable. Last year trading volume and borrowing was so high, and there were so many incentives, you could easily get 20-40% consistent APR in basic shit like stablecoin LPs, like USDC/DAI, or just looping deposits in incentivized lending platform. And blue chip LPs are pretty much risk free besides the risk of the underlying tokens.

Now since volume is a lot lower and lending is crowded relative to borrowing the APRs are very low. But there are still periods of time when there is a lot of volume and liquidity is low you can make good APR but its a lot more volitile. Some weeks you'll get 20% or more, and other weeks like nothing.

And this requires moving tokens around and seeking places where liquidity is needed. Platforms that are just simple deposit-and-earn a fixed APR are usually ponzinomic or straight up scams. But it still depends, you have to DYOR.

>>49693303

Often times staking just makes up for token inflation, so its not really a scam, but if your token is getting high staking APR you are often just treading water with inflation of the tokens.

>>49688086
Cool it with the anti-semitism.

>>49688045
>$230k fucking dollars thrown into a shitcoin gamble
I smell boomer fuckery in action

>>49688360
All the people dunking on this are the kind of soulless NPCs to consume drugs in order to cope with life

>>49686947
I can’t keep track of all these crypto scams. What happened with this one??

>>49688363
This 'le violence begets... um.... MORE VIOLENCE!' meme is pure reddit. Overwhelmingly combatants don't have personal tragedy, they're just retards who are jebbed up on their community's cause.

>>49688045
Fucking retard, crypto is supposed to be a trustless P2P system. Illiteracy must be widespread again.

>>49687381
>9% interest
What the FUCK

>>49689242
I've had that risk free for years in bancor

>>49686947
FIRST I GET GOXXED

THEN I GET DO KWON'D

NOW CELISUS STEALS MY COINS

WHERE DOES IT END?????

>>49689592
>>49689638

If you're still here Koreabro, how has the fallout been since LUNA and other economic happenings? I use Probit and interact with some chains that seem to be shitting the bed now.

>>49688625
Praise Him

>>49686947
https://youtu.be/d5ll3ByaoHE

>>49689520
>BTC has lower long term inflation than your PMs.
>BTC
>long-term
>PMs
BTC has existed for 13 years...

>>49690531
fuck....im fucked. i have nothing now. looks like im gonna have live in my car for now

>>49694336

Bitcoin's inflation is coded for the next 100+ years. And PM's inflation from mining is consistent enough to know it will easily be higher than Bitcoin in the future.

>>49687503
that's bc the shootings are fabricated or you are correct we WOULD see vigilante shootings all the time

>>49688927
>ID is LITERALLLY Mr. Less Networth

Shut the fuck up

>>49688927
>Mr. Less Net Worth

>>49694753
sauce on anime? looks like it could be kino

>>49694900
Jujutsu Kaisen