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One for the crypto haters

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  1. #131

    Join Date
    Aug 2006
    Posts
    11,488
    Quote Originally Posted by bdw:
    I admit I had to google what HODL means, not a term I am familiar with.
    That was great! Cannot tell if they are trying to be funny, or if they are giving the middle finger to everyone.

  2. #132
    Quote Originally Posted by bdw:
    Celsius have enabled HODL mode for all their customers:

    Attachment 86810

    I admit I had to google what HODL means, not a term I am familiar with.

    HOLD ON FOR DEAR LIFE!
    If you'll excuse me being pedantic, 'hold on for dear life' was invented by the media years after the term came into use, probably by a journalist somewhere.

    It actually comes from an early bitcoin forum post, around 2010-2012. Some enthusiast with an impassioned and drunk sounding rant explaining to fellow holders that if they ignore volatility and just hold their bitcoin they will all be kings. 'Hold' was typo'd as 'hodl' and the term 'hodl' was thus meme'd into existence by the early community as meaning 'hold your assets long term'. The guy is probably living his best life somewhere now lol.
    shri likes this.

  3. #133

    Join Date
    Mar 2021
    Posts
    707
    Quote Originally Posted by traineeinvestor:
    What are the "extreme market conditions" they are talking about? Recent movements in bond, equity and currency markets are well within the range of normal fluctuations. They may be painful for many investors but there's nothing remotely abnormal about them.

    P.S. never heard of Celsius until you mentioned them in this thread.
    And isn't crypto meant to be free from all those pesky traditional finance market conditions?

  4. #134
    Quote Originally Posted by FrancisX:
    And isn't crypto meant to be free from all those pesky traditional finance market conditions?
    Well it isn't meant to be free from volatility. And Celcius is a centralised platform that specialises in crypto, not a crypto platform.

    Smart contract based borrow/lend platforms like Aave and Compound ARE largely free of issues like this as they don't rehypothacate and are highly unlikely to ever become insolvent as collateral is automatically liquidated before borrow position becomes under collateralised.

  5. #135

    Another Ponzi lite based on the UST/LUNA structure looks about to collapse. Liquidity in the Curve pool running out. Was the precursor to the UST collapse in May.

    http://https://twitter.com/kamikaz_ETH/status/1536245216944193536?t=HGDLZvALU87xCWzHtiJjjQ&s=19


  6. #136

    Join Date
    Aug 2013
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    The World
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    1,869

    I found Avalanche user-friendly when I tried it out briefly last year but don't know if that will necessarily translate into anything more significant.


  7. #137

    Binance has also "temporarily" halted Bitcoin withdrawals:

    https://www.theguardian.com/technolo...ket-conditions

    shri likes this.

  8. #138

    Join Date
    May 2011
    Location
    Sai Kung
    Posts
    4,041

    Didn’t think tumbleweed was a thing for HK. How wrong I was


  9. #139
    Quote Originally Posted by ByeByeEngland:
    Didn’t think tumbleweed was a thing for HK. How wrong I was
    What are you referring to sir?

  10. #140
    Quote Originally Posted by traineeinvestor:
    Binance has also "temporarily" halted Bitcoin withdrawals:

    https://www.theguardian.com/technolo...ket-conditions
    Just to be clear, this was a technical issue that was resolved in under three hours. Only withdrawals on the Bitcoin network itself were impacted and users could withdraw wrapped BTC on Ethereum and BSC just fine, as well as all other crypto assets.

    Standard shitbaggery by the Guardian to deliberately mislead by including this detail in an article about a very serious situation on another platform.

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