/biz/ - Business & Finance

>>49817318

not your keys not your coins

we warn you.

what the fuck is celsius even, i've never heard about it before the most recent dump

>>49817469
a scam ran by israeli criminals

>>49817469
A ponzi scheme disguised as a bank

>>49817469
Bro you put coins in and get 20% APR ezpz

>>49817318
They are paying back their debts. I put more money in CEL

>>49817469

Its like bitconnect in a way.

Lost $2k, not too bothered but when everyone forgets about this next run and more clones of this appear I won't be partaking.

>>49817318
just watched the opening and clicked away kek

>>49817469
You put money in, they keep it. It's not complicated. What's complicated are all the lies they told people to trick them in to sending their money. It's just an elaborate scam.

You honeslty have to be an idiot to trust your assets with these bunch of scammers. This was the most obvious scam platform I've ever seen, I've been warning people for well over a year. And yet there are STILL NPCs defending Celsius saying "we trust you, take your time with unpausing withdrawals." kek

>>49817469
It was a company pretending to essentially be a bank for crypto. That was claiming to he fighting big banks and was against banks. However they had no liscence to be a bank so instead they were essentially taking loans or something from the customers.

They claimed to be able to generate 10% interest over time at low risk. But the fine print mentioned if Celsius went bankrupt they have no obligation to pay back the loans from their customers who thought they were savings accounts. Ih right in order too generate 10% interest they were using the crypto given to them by their customers as collateral. It's worse then a rugpull shitcoin scam because there is mothing to even baghold the crypto is just gone... oh by the way Celsius was also running a rugpull shitcoin scam through celsius where you got special benefits if you changed your ACTUAL crypto in Celcoin. And the cherry on top the owner is going to get away with everything.

>>49817318
people stupid enough to believe 20% risk free returns are possible deserve to lose all their money.

When the banks fell we as good citizens propped them back up, when the banks fall in crypto we like greedy consumers dont try to prop them back up so that they can work for us. Let's all quit being greedy ok.

>an acquaintance of mine kept sending me celsuis referral links in 2021
>i never took him up on it
thank god

If ur a linkie then f you. You niggers were shilling celsius here and bragging about your 3%
Turns out they took your link and shorted it so your grtting 3% on a coin thats going down 90%.
Also I researched this shit and there is no guarantee or insurance.
The terms and conditions have you agree to potentially lose everything.
How stupid do you have to be to fall for something like this in fucking crypto??
Congrats you let a jew recklessly gamble with your money for small percentage and they blew up..

>>49817469
another ponzi. For some reason retards still dont realize that offering 10% APY on a shitcoin is a clear ponzi signal. Where do you think the fucking yield is coming from?

>>49817318
>trying to make it back with youtube loss porn
now who would pity click this faggot's link when you can watch peter schiff destroy mashinsky and celsius in front of a public audience?
https://www.youtube.com/watch?v=YaNXa4yLv-w
yes, that's right
an entire hour and a half of jew on jew violence

>>49817507
>>49819670
Celsius had like max ~7% for stablecoins, BTC and ETH only a couple percent. I think Nexo is the only one with >10% on anything.

>>49817399
this

Anyone still have that screenshot of that redditor saying fuck banks and that he was dumping his life saving into Celsius

>>49817318

People who keep their funds on sites like this have misunderstood the whole point of crypto.

>>49817507
What warrants the high APR? Sounds like a Ponzi.

If you reply to this post with the word, “nigger”, I will subscribe to you

>>49817498
Hey, that was very anti-Semitic of you and also anti-Ukrainian. I think you should apologize.

DeFi is much better only noobs use celsius, get what they deserve

>>49820116
that is still too high to be real in forex.

>>49818522
This is just Hyip but with extra steps.what the fuck I can't even

>>49817399
>keep own keys, run own wallet
>need to trust everyone on wallet project, everyone with admin account on git repo, everyone maintaining access mirrors, and all their email accounts
>any one person could get hacked/decide to scam you
>next update steals your keys and empties your wallet

>>49817318
at what price is celsius going to be bankrupt?
15kish?
any1 got the source to that?

>>49817318
So can anyone here explain why after the success of Bitcoin everyone started buying shitcoins? Did you really think the world needed more than 2-3 internet currencies?

>>49817469
I had a client asking to verify their income via our firm letter. This client income is >$2M per year. They had significant crypto assets. Wild.

>>49820765
if you are that distrustful of hardware wallets, or just using an old version of an established wallet on an offline computer, you can code your own wallet. it's needlessly schizo for many reasons but not at all impossible

>>49820295
they use a combination of methods, the scammiest part comes from the high yield they offered on non-yield bearing assets (like pre-staking Chainlink). to get the stated yield, they would sell their clients' deposits and use that money to buy a completely different asset, and then farm with that instead

when you put money into these CEFI platforms you are not a customer depositing funds. you are an unsecured creditor giving these sketchy companies a loan. and they are under no obligation to repay this loan if/when they declare bankruptcy.

>>49817499
>A ponzi scheme disguised as a bank

so, a bank?

>>49817318
I disliked this stupid video. Fuck this guy

>>49817499
>takes deposits
>loans money
>claims not to be a bank
HMMMMMMMMMMMMMM

>>49820727
Now everyone's realising (or not) that crypto.com with its shit CRO token and staking model for interest is going to do the same, little know face, the creator of crypto.com is on the run from Thai police for pulling a reward card cashback scam over there.

>>49820295
if an investment guarantees returns well in excess of the federal funds rate, 99% precent probability it's a ponzi scheme

This guy is a fucking idiot, he “bought into the concept” of being given a lot of money for free for nothing? Complete chump, rube. A Turkey now wandering around primed for the next wolf to dine upon him.

>>49817318
someone has the picture of that whore that did porn and got in charge of handling the money of this thing, that picture is gold now.
>>49817469
I only knew about that thing because one whore got a good position in that company, now everything makes sense

>>49820295
It’s like giving your money to an investment manager and the most profit you can get is 10%, all the losses are yours. Now even the little guy can get an account with a hedge fund run by a porn star!

>>49822669
they do not "take deposits"
they accept loans from unsecured creditors

Celsius isn't even a lending platform or a bank. Its literally a hedge fund. They took your coins and put it into other lending platforms and borrowed stable coins. Then they attempted to degen farm the stable coins. They also put coins into locked up staking contracts. At least with lending you can jack up borrow rates to get people to repay loans, but they locked up their eth in staking for example, you cannot exit that position for years potentially.

That is basic problems with cefi, you have to "trust" them not to be retards. In real defi everything by an algo. The rates are dynamically adjusted for liquidity. Borrows are liquidated by third parties with no bias. In cefi you always get these retards loaning money to their buddies or partners and giving them slack when their position goes underwater. You always have them trying to advertise unrealistic rates and promising everything is so safe. But its a centralized black box and the users actually learn what liquidity means they panic and bank run.

>>49817318
I only heard about this company last year because my Jewish coworker was shilling it to me kek

>>49822614

there is a collapse in crypto every single week. this kind of thing has not happened in my lifetime in the trad banking system. you are the perfect customer for Celsius because you are completely clueless. A drooling retard.

lol

>>49820765
>>next update steals your keys and empties your wallet

See this >>49822300

>>49823615
I guess you don’t remember the 2008 financial crisis, let alone the S&L crisis, or the history of banking panics.

>>49818522
>But the fine print mentioned if Celsius went bankrupt they have no obligation to pay back the loans from their customers who thought they were savings accounts.
Lol that faggot lost $270k!!! Haha haha no refunds

kek baggie

>>49823687

Not to mention all the hedge funds that blow up every year. And Celsius is closer to a hedge fund than a bank. What "bank" leverages their user's deposits into something like Anchor UST?

I sorta feel bad for this guy

>>49817318
Kek! Basically we took Fucking Celsius money, and we made that our Fucking money! We tricked you Suckas!

Man I done told all you all MotherFuckers you keep holding that Crypto, you'd get FUCKED UP! I done told you MotherFuckers, you better go get the Fuck back on the Banana Boat. You stupid MotherFuckers.

You Fucking CryptoBros with Fake balance sheets, you just found out how real that Shit actually was. You decided to go up against intuitions and legit Bears that been doing this Shit for decades and you thought you would come out on top? Come the fuck on. Finance is still OUR HOUSE!

>>49817469
It's a scam, basically.

>>49824931
Based

>>49818522
Just like the owner of LUNA.

Scammers get away with their bullshit way too easily in crypto.

>>49820295
They lend them to degenerate traders for a high APR so they can short the market.

>>49820295
>>49826238
So what I'm saying is basically you are giving your bitcoins to people so they can push the price of your bitcoin down. All for a paltry 3% APR. Lets not even talk about custody.

>>49817318
took about 5 seconds to realise this guy is a fucking brainlet who thinks he's smarter than everyone else. will definitely get scammed again in the near future, crypto is built on dumbasses like him.

>>49819670
I lost 10k this year on a DAO that offered 100000000% interest

I don’t even want to think about it

>>49823687
When did banks freeze all assets and never give an update on when they will be unfrozen happen?

bros If I borrowed 100k from Celsius and it goes under, do I have to pay it back

>>49817399
Soijak posters poisoned the well.

>>49827048
No, but you lose whatever collateral you had there

>>49827048
How did you borrow from them if not with an over-collateralized loan?

>>49821878
>implying celsius hasn't been net short for the last 2 weeks and deliberately spreading fud

>>49824931
Based nigga

>>49822300
The crypto market peaked at 3 trillion USD. Hardly schizo to think that wallets would be attacked by any vector possible (including by insiders), just like exchanges were.

>>49817318
Has Celcius officially announced they've stolen everyone's money yet or are they still making up excuses?

>>49826990
When they get taken over by the FDIC.
>you skipped over the comment about a new thing happening each week, which is what we saw in S&L and GFC

>>49817318
This is exactly why regulations is needed in this space.

>>49828329
Regulation isn't needed. Dumb fucks needs to stop being stupid.

>>49828419
Based

>>49828329
What changes would regulations bring though?

>>49821878

around BTC around 14K

>>49828450
For starters with regulations we won't have a case of Celsius freezing people's funds.

>>49828586
I do think regulations take us back to the Old Financial system, what difference would the DeFi industry have over traditional finance with this.

>>49828746
In that case we need as industry based regulatory infrastructure like Alliance Block is building.

>>49828886
Their KYC/AML products will play a huge role in making this happen.

>>49817498
no, that's the federal reserve

>>49817318
Interest rates: 1%
Stock dividends: 3%
Celsius: 9%
Wow. That couldn't possibly be a Ponzi Scheme.

>>49827658
That comes on Tuesday.

>>49817469
it's a crypto bank

>>49817318
As a long-term stock investor, I would fucking LOVE to buy a house from someone who was a former crypto-bro. How do I find these bankrupt people to buy their assets from? Foreclosure auctions?

>>49817318
>This faggot uses the example of people "kicking the doors down", and uses video of cowboys shooting bad guys
>Celsius is headquartered in Hoboken, NJ, and this guy owns a fuckton of guns
What a larping faggot, he deserves to lose all his money to these scam artists.
IF IT SOUNDS TOO GOOD TO BE TRUE IT FUCKING IS.

>>49829498
>How do I find these bankrupt people to buy their assets from?
You don't. They already "sold" their house when they took out a second mortgage.
Foreclosure auctions?
If you're lucky, and Blackrock doesn't buy it before it hits auction. Then again, I hear that they're unloading properties, now. If you ask them nicely, they might let you hold their bag.

WTF is up with the sound effects?

>>49817498
based and the real take away

>>49820092
it gets harder and harder by the day to believe that Schiff is actally one of them

>>49817318
damn people alway cope with 'community' and stuff when this happens, brutal

>>49819670
I think most thought they were incentivized rewards and would peter out.