Celsius DeFi ponzi collapsing

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johnarb said:
I worry for you, Pekelo, you're seeing the world in a very negative way. Maybe you should talk to someone

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Part of me, and I know this is a very very long shot, suspects that you're a big Bitcoin whale and you bought hundreds if not thousands of Bitcoins a long time ago and you're just posting negative stuff all the time to make sure no one suspects that you're a Bitcoin whale?

Anyway, It's my dream for you, I'll never know the answer with 100% certainty
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Wow...it is one thing to have missed the move. It is another thing to have missed the move AND bashed BTC all the way from $2 to $60,000.
 
Ed48 said:
What would worry me about holding Bitcoin through a drawdown is:

1) It's only been around a relatively short length of time (13 years?). Sure it's had a few bear markets and always recovered but 13 years is not really long enough to assess the long term viability of an asset class. With other assets like stocks and gold, there are hundreds (thousands even) of years of historical data to support long-term buy and hold as a safe investment strategy. If the Dow or Gold crashes, you can be confident that it will come back eventually.

2) Bitcoin has only ever existed during good times. It's never experienced a prolonged recession/savage bear market like 1929/2000/2008. But it may be about to be put to this test, and personally I wouldn't want to be holding it while this experiment is unfolding.
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There are indicators during previous bear markets that showed Bitcoin and cryptos were coming back

Companies continued to build out and new projects were being started. Even now, I started a thread that a16z recently had their biggest fund raise in crypto

NGU tech is the best creator of a Bitcoin crypto bull market

Investors from retail small accounts to the UHNW to big investment firms and even to countries are enticed to join in when the crypto prices are in a bull market feeding into even higher prices

Right now, it's difficult for the Bitcoin and cryptos NGU tech to function properly, because of Fed policies, but time will come... And there's always the possibility of a big news event that could trigger a new bull market, so it's best to just hunker down if already a hodler
 
fan27 said:
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Wow...it is one thing to have missed the move. It is another thing to have missed the move AND bashed BTC all the way from $2 to $60,000.
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Hehe, you should see my Tesla bashing! Look, cryptos are shit, no matter the valuation. And my life is pretty comfy without investing in ponzis...Since you are dumb, I would like to point out that my willingness to invest in something has no bearing on facts about that particular something.

So although I appreciate the personal attention, but why don't we concentrate on Celsius? It is making a comeback!!! Maybe it is time to go long at 65 cents!
 
Pekelo said:
why don't we concentrate on Celsius? It is making a comeback!!! Maybe it is time to go long at 65 cents!
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Very interested in getting CEL at 20 cents again like in 2020

It's a global crypto assets bank, one of the biggest in the industry, in direct competition with BlockFi

They provide crypto assets liquidity to the biggest traders in the world, including wall street

Licensed and regulated to operate in the US and in the UK

Is Celsius insolvent because of Terra Luna/UST collapse?

  • It's possible, but that's what makes a market and presents opportunities
  • I do not believe Celsius Network is insolvent which is why I see the low price as an opportunity

https://celsius.network/

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johnarb said:
it's best to just hunker down if already a hodler
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I could do that if I held Bitcoin as part of a diversified portfolio (eg. BTC, S&P500, Gold, Property, Bonds).

But not 100% of my investable net worth in BTC.
 
Put all your money in it, babe! maybe you get your 4-5X returns, IF you can withdraw your money... Anyhow, I am putting you back on Ignore, because anyone who can only use "but price goes up" kinda reasoning is not worth to listen to. Also penny stocks are against ET's policy.

So see you at the end of summer or BTC at 20K, whichever comes first. If it hits ATH, message me.


https://cryptoslate.com/trouble-at-celsius-network-users-report-difficulties-withdrawing-funds/

Luna 2.0 is also dirt cheap. I dare you to buy it. :)
 
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Pekelo said:
Put all your money in it, babe! maybe you get your 4-5X returns, IF you can withdraw your money... Anyhow, I am putting you back on Ignore
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Pek, that is the wrong way to think about asymmetric investments. I do not need to put all my money into CEL, I was thinking of buying 100,000 CEL tokens at 20 cents and it would cost me $20K which when the bull market comes back and CEL goes back to $5, the position will be worth $500K

I had 250,000 CEL at 20 cents back in 2020, cost-basis $50K which at the peak of $8 was worth $2M

But I am no Pekelo so it is not possible for a mere mortal like me to sell at the very top price of over $8, you know what I'm saying??

I started selling heavily at $3, $4, $5 and then $7, never sold any at $8

Ok, Pek, put me on ignore for now, we'll discuss stuff again later. I think you're a cool guy, you wear your heart on your sleeve like I do
 
johnarb said:
Pek, that is the wrong way to think about asymmetric investments.
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Venture capitalists do this all the time. They give lots of startups millions of dollars. They of course don't know which will ultimately make it, but every now and then you get a Facebook or a Tesla that makes it to IPO and then you cash out.

In crypto, it seems like asymmetrical bets are more numerous, and they hit payday much faster.
 
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