Celsius DeFi ponzi collapsing
- Thread starter Pekelo
- Start date
Pek, what peg are you talking about??
I bought CEL tokens in 2020 at ~20 cents and it went all the way to over $8. Started cashing out too early at $3, $4 and $5
I have not touched CEL for a while, but seeing it at this price is making me interested
But there is no peg, Pek, You're confused about what CEL tokens are. Do more research so you're more informed
My bad, I am confusing all these ponzis.
So it is even worse, going from $8 to 50 cents. I thought it was down 50%, but it is 94% from ATH. Again, my bad...
Of course for a crypto investor, being down 50% or 94%, same difference.
Apparently there was some Terra connection:
https://www.bnnbloomberg.ca/terra-s...-network-activities-researcher-says-1.1771618
"Two wallet addresses “significantly impacted the UST de-peg,” Nansen said, and one of them was associated with Celsius. The two addresses withdrew about 420 million UST from Anchor via 15 transactions, and they were the top wallets that used the Wormhole bridge to withdraw the funds into Ethereum at the time, Nansen said. Celsius was also “a close counterparty that has sent and received funds” from another wallet whose activities led to the de-pegging, Nansen said.
Celsius pulled about $500 million of funds from the Anchor lending protocol, the Block reported earlier. A person familiar with the situation confirmed to Bloomberg that Celsius had moved some founds out of Anchor."
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My bad, I am confusing all these ponzis.
So it is even worse, going from $8 to 50 cents. I thought it was down 50%, but it is 94% from ATH. Again, my bad...
Of course for a crypto investor, being down 50% or 94%, same difference.
Ok, did you conveniently miss the fact that I profited thousands of % ROI?
That's not how investing works, Pek
Do we need to educate you that someone who bought the top at $8 could have sold it with a stop loss at $7 after earning some interest rewards on CEL tokens that would have offset the loss further?
I suppose you also think this only happens investing in crypto assets and you are not aware that ZM, PYPL, NFLX, ROKU, RIVN and many many more stocks are down much more from their top prices than BTC
PS: we are in a bear market in Bitcoin and cryptos so can't say this will not go further down, I'm just pointing the numbers as of today
Ok, did you conveniently miss the fact that I profited thousands of % ROI?
That's not how investing works, Pek
Do we need to educate you that someone who bought the top at $8 could have sold it with a stop loss at $7 after earning some interest rewards on CEL tokens that would have offset the loss further?
I suppose you also think this only happens investing in crypto assets and you are not aware that ZM, PYPL, NFLX, ROKU, RIVN and many many more stocks are down much more from their top prices than BTC
PS: we are in a bear market in Bitcoin and cryptos so can't say this will not go further down, I'm just pointing the numbers as of today
Did you ever issue a sell call on crapto ?
I don't know wtf Celsius even is. But I stay away from anything that is 20% APY/APR. I mean... do you honestly think you can get credit-card interest safely? Even Madoff's Ponzi wasn't that crazy.
Nope, and I congratulated you for it before.
But the game being negative sum, that means that some other less skillful bastard gets to be taken to the cleaners.
So good for you, but please stop pushing these ponzis and enjoy the profits. The jig is up...
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Thanks for the congrats, I think you're confusing CEL with some other stuff, since you call everything cryptos ponzi,
Anyway, it's not a zero-sum game, but too much to explain
Celsius Network, BlockFi, Nexo, Ledn, they are all viable business models
Celsius is regulated in the US and in the UK, have offices in both
BlockFi is able to operate in more states than Celsius
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Pekelo, you've known about Bitcoin and cryptos assets for longer than me, I guess you will forever hate this space but if you stop and think about it, aren't you just stopping yourself from ever taking advantage of the vast opportunities in this space?
Of course its not zero sum, its negative sum
sum win, most lose
ponzi
if you enjoy vulgar enterprises, crypto is for you !
sum win, most lose
ponzi
if you enjoy vulgar enterprises, crypto is for you !
1. I said negative sum, very easy to explain. Poker in a casino is a negative sum, because of the house. More money goes in and less goes out with the winners.
The same with crypto because brokerages get their cuts and there is mining costs. So NEGATIVE sum.
2. The golden age of crypto is over. The ATH for BTC is in, the SB ads as I posted about it signaled the top of the golden age and over saturation. Sure you can still trade it, but the buy and hold for years time is over.
It is much easier to play options on ETFs, not to mention safer... Getting back on topic:
"Alex Mashinsky, CEO and Founder of Celsius Network, took part in two rug pulls in 2017/18. Alex obtained AMM and SIRIN prior to both ICO launch's, which he sold at the all-time high, are currently trading at -99.9% and are both linked to Moshe Hogeg, who was arrested on massive crypto fraud."
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