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One for the crypto haters

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  1. #101

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    edit


  2. #102
    Quote Originally Posted by Gollygordon:
    Anyway, here is another actual genuine concern in crypto to be aware of. I suggested removing funds from Celcius immediately after the UST depeg and it appears via various sources that they may indeed have increasing solvency issues. Would again recommend getting out if still exposed. Maybe it is nothing but there is extremely little upside in taking the chance.

    https://twitter.com/otteroooo/status...AuKEKs6_ZA6mOQ
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    ByeByeEngland and hullexile like this.

  3. #103

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    Quote Originally Posted by Gollygordon:
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    This isnt gonna end well.

  4. #104
    Quote Originally Posted by Gollygordon:
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    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.
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  5. #105

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    Celsius have enabled HODL mode for all their customers:

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

    HOLD ON FOR DEAR LIFE!

    shri and jgl like this.

  6. #106

    To be fair to Celcius, it isn't 100% clear they are actually insolvent. May simply be that that their assets are illiquid and they need time to unwind positions and process withdrawals. Wouldn't bet on it at all though.

    Here is their competitors take:

    http://https://twitter.com/Nexo/status/1536217850591035392?t=KCsR7PHFyhb17rPhzm1GLg&s=19


  7. #107

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    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.

  8. #108
    Quote Originally Posted by bdw:
    Celsius have enabled HODL mode for all their customers:

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    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.

  9. #109

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    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?

  10. #110
    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.

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