/biz/ - Business & Finance

HODL MODE FRIENDS WHERE U AT

>>49500685
I have stEth in yearn, am I getting rekt?

>>49500917
Read the thread. They can turn the screw on Celsius who will need to take emergency action to satisfy redemptions, it doesn't change the fact that stETH/ETH will return to peg eventually, but in the meantime the Curve pool could get depegged hard.

This is bad bros

>lending kikery doesn't work without bailouts
Didn't we just see this episode?

Where can I short celsius

>>49500917
Celsius will go first. Yearn second. Etc. You will have a heads up when Celsius becomes insolvent. If you aren't comfortable with that as your offramp signal you can just safely pull out now. Assuming they will allow that of coruse

I HATE THE BANKMAN

I HATE THE BANKMAN

I HATE THE BANKMAN

I HATE THE BANKMAN

How do we profit? Also thanks to OP for making one of the few non-shit threads on the entire board.

>>49501058
Bancor aswell

>>49501121
Why Bancor?

>>49500685
Is it true that Celsius invested in Luna?

>>49501152
it has literally nothing to do with bancor, completely irrelevant

>>49500931
>>49501058
If I do nothing and wait it out until the merge, I should still be able to do the needful and redeem the full amount, that considering lido doesn't disappear or gets hacked or that the merge never comes, right?

>>49501165
Yep. Lost 500 Million

>>49501093
Probably short eth/steth.

But how do we do it? Where?

>>49501093
Arb stETH/ETH spot pair

>>49500685
if celsius becomes insolvent, chainlink labs is bankrupt. they have their entire eth stack on celsius for yield farming

>>49500685
thinking of staking a few ETH's I know have in cold storage, teh stETH you are talking about is Lido ETH, right? Does it work the same as ankrETH in that you just keep it in your wallet and the rewards automatically accrue?

>>49501375
He was selling 50 million link a week @ $50 all the way down to $15. Imagine the coin folding after dumping on link baggies the entire bullrun, the salt will be marvellous.

>>49501375
Do they manage all of chainlink’s assets? Jesus.

>>49501430
their entire eth stack
i don't know what other assets they have

>If I were a VC or market maker, I would have a massive target on Celsius's back.

>1. Liquidate them and short
>2. Break the $stETH peg. Bank run starts, $ETH price crashes, and then buy $stETH at a massive discount before the merge.

I have 100% of my crypto in Nexo

Not sure if very retarded but its only 5k

I am thinking of spliting 50/50 in nexo and youhodler

time to nuke goyim

>>49501375
>>49501441
>things i made up for attention

>>49500685
From what I see it's very different than LUNA situation. UST was backed by nothing or atleast less than would be required for a stable peg over time, and its LUNA-link made it at some point a guarantee that LUNA would go to zero.

stETH/ETH is very different - the stETH is just locked, and cannot be redeemed at the moment. Similar to a bank run, but with the difference that the Bank actually having enough deposits, the deposits are just not at the branch where everybody is withdrawing it from so it takes some time to move cash around.
If I were LUNA i would just make a maximum withdrawal for some time, let CEL take the beating as people fear it means bankrupcty but then as stETH gets unlocked over time you let people eventually withdraw their full ETH which should restore confidence in CEL.

So in a nutshell, LUNA was a solvency issue, CEL is just having a liquidity issue.

>>49500685
If Alameda wrecks cefi I will 100% change my mind on Sam. Somehow I don't see them doing that though.

>>49501549
>spoonfeed me

I don't know why you would even use Celsius when you can get over 20% APY staking ICYp.

How come Alameda is in the middle of every controversy?

>>49503334
You’re right that they’re not directly analogous, I’m more interested in slurping stETH if there is a significant depegging, it would be an excellent opportunity for low risk leveraged ETH on a timer

>>49503485
Because they’re essentially the frontmen for Wall Street and that’s how Wall Street works

>>49501165
They invested in a used up roastie that did porn >>49503485
1) jews
2) that's literally their business model
3) another theory is that they are a proxy of other entities. Either way they have basically been given a green light to seek and destroy exploits in the crypto space. Part of me thinks they're conniving kike cunts who use their massive capital to create otherwise avoidable problems in the space and part of me thinks that they actually do a good thing by exposing/exploting weaknesses in the market which is going to force the next round of creators to be more diligent, prudent, and secure. Until these 'DeFi' companies start taking shit serious crypto is just one big ponzi scheme.

>>49500917

In the long term, no, because steth eventually will be redeemable for eth. But in the short term you may not be able to trade steth for eth without taking a haircut.

>>49500685
where can i short this shitcoin

>>49501058
Yearn won't because its defi not cefi. If people pull out nothing happens.
>>49501430
No only part. Considerable but not the link they're using for budget stuff.

>>49501058
>>49505154

As far as I know yearn redeems at market rate, so there is no issue, other than if you withdrawal at a bad rate you get less eth.

Celsius is literally a scam ran by israelis

stETH/ETH on Curve looks brutal right now

>>49507140
>stETH
Is it worth buying stETH with ETH rn? Eventually the merge will happen and you just got ETH at a 5% discount. But I'm wondering what the effective slippage will be.

>>49503974
>theory is that they are a proxy of other entities
>theory
anon do you really believe you can enter the space late from nowhere and just suddenly magicly go to 30 billion and be the biggest exchange despite being a hated controversy rife off shore tax haven set up
add to that getting away with far more crimes then what artie ever did
be 100% certain that he is the proxy of big wallstreet boys

but even so he couldn't do this much if there werent exploits to attack
when will people learn that all these pegged instruments are dangerous, why would you trust a third party with your real effers or corns and get some scam product back that they just call ether with a prefix thinking that both its the same value and they will not eventually rug you

>>49501093
>How do we profit? Also thanks to OP for making one of the few non-shit threads on the entire board.
>>49503501
>You’re right that they’re not directly analogous, I’m more interested in slurping stETH if there is a significant depegging, it would be an excellent opportunity for low risk leveraged ETH on a timer

This. There's an opportunity to scoop cheap staked ETH, albeit with the tradeoff of having to wait several months to redeem.

At what point do Alameda guys start getting picked up, tortured, and left on the side of the road?
They fuck around with so many projects and capital.
You're telling me there isn't one multi millionaire or billionaire willing to make an example?

>>49507497
Personally I feel that %5 isn't worth the risk of something gong awry. I don't know shit about stETH though I'm just a passer by. If it was 15 percent? now we'd be talking.

>>49500685
Will she make a new video /biz/?

>>49509865
tell that to the people that bought UST

>>49509897
What a wholesome girl

>>49510189
I really wish fags would stop comparing everything to UST. UST was always a dumb risk and if you fell for it you're dumb as shit. That was staking rewards. We're talking about arb opportunities now

>>49500685
Celsius is finished. Short the ponzi

>>49510292

So happy they are getting rugged.

>>49503430
>If Alameda wrecks cefi I will 100% change my mind on Sam.
If you are on Sam's side after all the bullshit Alameda has caused going all the way back to the Band/Link wars then you're not smart enough to be here, but I'll buy your bags when you finally make up your mind. :)

>>49510260
>arb opportunities
good luck, have fun

>>49510456
I said it's not worth the risk already I'm not taking that kind of risk for a measly 5 percent. But I don't think the risk is nearly as much as UST

>>49501036

>>49503485
alamedas got the big brains. sam out traded everyone in bitmex back in 2017/2018.. humble beginnings only got more talent and manpower since then

>>49501234
Correct. Even more, a depegged stETH/ETH means that you can essentially buy ETH at a discount with the stipulation that you won't be able to redeem 1:1 until the merge completes and you have to assume the usuals (merge is successful, Lido still around, etc.). It's a good opportunity if your goal is just to accumulate ETH long term.

>>49503485
They're sneaky Jew rats, but honestly a lot of the claims are schizo posting about Alameda being involved with literally everything. Maybe 10% of it is real.

>>49510189
>>49510456
I wish there was a board where you have to pass an IQ test to post

>>49511011
ive listened to retards like you explaining how such opportunities are easy. every time without fail they lose, enjoy being another retard trying to outplay whales

>>49500685
This is fud to get people to sell steth because celsius has enough assets to not be liquidated, even if steth is 0.
Having said that, I don't know what will happen to steth price.

I left celsius for ftx's 5% on everything.

Lol, lmao even

>>49510815
what is SBF's family background? what do his parents and grandparents do, who are they connected to? never thought about this before but i'd be very very surprised if he didn't have ties before he ever even knew what crypto was

>>49501524
>>49511111

>>49511532
I believe both of SBF's parents are professors at Stanford (Law)

>>49511532
Stanford professors
mom is involved in democratic party
worked at Jane Street as an ETF basket trader

>>49511050
If you don't know the functional difference between UST and fully backed staking derivatives, then you've lost the right to call others a retard.

>>49513548
>fully backed staking derivatives
how sure are you about that bucko? ;)

>>49513642
100%

It's all on chain for anyone to look at.

>>49514659
you will understand what i mean eventually. careful out there

>>49501058
yearn isn't insolvent, dumbass

>>49500685
> 5 more weeks

>>49507497
Only reason not to is if you think you'll do better later. This thread exists due to fudders hoping for exactly that situation.

Everybody knows celsius is just fudding itself to scoop up cheapies to pay rewards.