re: Another Crypto network imploding (Celsius)

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Your grandpappy was right folks: If it's too good to be true, it probably isn't

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After all this time, I still don't completely understand it haha

I used them for a loan. I figured why not. Wanted to test it out along with a few other platforms offering that service.

A few weeks ago BTC got low and I thought it would have been liquidated then. Once I saw this bounce last week I decided to move DAI over and close out my BTC loan and close out my Celsius account because I was reading they would have issues if it went lower and I remember reading about like what you posted.

But again, I have rules. It was never my large stack and never will be.

More cloud cover for the crypto world.

Makes it more questionable as a currency.

The celcius issue aside, why would anyone accept a currency that is as volatile as bitcoin or Ephereum much less the other lesser known coins?

You sell your car today for agreed $25,000 and by the time you convert to USD, the coin is worth 10% less! You just lost $2,500 on exchange rate alone!

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5800% roi on DeGods from mint price plus the daily dust yield but people out here still buying ibonds like they're doing something lmao

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wonder if his NFT stuff crashed also. how do you think that stuff will hold any real value? for any length of time?

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Jag_Warrior

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ok boomer






just kidding, i am gen X and you may be also. yeah this crypto crap is purely speculative for me. anybody thinking they could count on this for secure dividends or interest was fooling themselves. yikes. the little bit of BTC i have is in my crypto.com account. easy to use. no hassle.

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He has been MIA since May 11

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he is probably in counseling right about now. I mean seriously, who goes all in on this stuff? Sounds like he lost his arse.

i will take trading commodities/futures, and investing in stocks/bonds all day over that. oh and along with my RE.

crypto and that NFT speculative stuff is more riskier than all of the above x 10, imo.

A nephew made millions on crypto, but got in very early. Hope he took his profit while the getting was good.

I we only had a crystal ball!

"Infamous bitcoin pizza guy who squandered $365M haul has no regrets"

https://nypost.com/2021/05/24/bitcoin-pizza-guy-who-squandered-365m-has-no-regrets/

What?

I show it down 16.43%.

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I have no data on how most boomers spend their days. I trade options daily. It’s how I make a substantial portion of my income. But I’ve never once worried about being locked out of my account or having a counterparty renege at expiration.

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I would say that you are an exception. Most people do not trade options or day trade daily. Also, Robinhood was pretty recent..........

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I asked a poster in another thread how he was trading crypto to mitigate risk, or even produce profits during volatile sessions. I was genuinely curious, since he told another poster that “he just didn’t know what he was doing.” So what was this guy doing? What was his secret? He never responded.

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Well for me, I mitigate risk by keeping 80% or more off exchanges. I really only get degenerate with about 15-20% of my crypto holdings. From there, I have a set of criteria projects I invest in that I look for and set alerts etc. However, unlike the traditional world, you have to go to forums, discords, twitter, reddit to get the information you need. Its not as easy as looking up a companies financials or other traditional methods.

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Whether it’s equities, options or crypto, I really do like to hear what proven trading strategies people are using. I’m not trying to make people defensive. But when they deflect, I can only assume that they’re winging it.

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I like to specifically track key wallets as my personal indicators. When I see abnormal movements one way or another it is more than often solid evidence to the upside or downside depending on the movement.

But again, I put in the years of time to learn that a lot of the things discussed in the space are too good to be true. However, understanding the game I do risk some for the early adopter profits if I feel I am "actually" early.

With all that said, I am still most heavily invested into mining as it is the least risky and most consistent.

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considering one of his last posts said he lost 6 figures in a week, I'd say so

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To be fair, knowing what I've read over the years about when he got in the market and what he owned, the dude had 7, possibly 8 figures of crypto assets and was "retired" from it. I'm sure his net worth took a hit and he may even need to find a real job now but he was doing more than fine prior.