Topic Split: Stock Market Watch

[go pak go]

I feel ya, prolly had half my crypto on Voyager.

F u luna.


I did get some decent staking rewards in my time, but guessing when the dust settles, it will look uglier than it already did, Lol.

lol. rewards.

All the "rewards" I have been paid are in Celsius. It was a joke when they continued "paying rewards" to us when our accounts were locked.

Celsius communicated that all their loans were fully collateralized. They flat out lied. And they fooled a lot people. Not just retail dummies but sophisticated money managers, pension funds, etc.

I had my house remodel fund in there. I guess no more bathroom and kitchen now.

As an older guy I have never understood the crypto thing. Never heard of Celsius. Keep it simple gentleman.

I did. The "crypto" I hold is USDC which is a stablecoin. The Stablecoin is backed and fully collagenized by US Dollars so the coin always equals a dollar. And that peg has remained. My asset value is still the same.

The Celsius platform is a lending site where depositors would give Celsius the funds and they then would lend out those funds to pay the depositor interest. Celsius always stated all of their loans were fully collateralized and the company always had enough liquid assets to pay for any "bank run". They stated they had far more collateral than a traditional bank implying they were "safer" than a bank.

So the idea was Celsius would take my funds, pay me 6% and then lend out the crypto for short term loans to customers at 8% to 12% and Celsius keeps the margin. Somewhat a similar model to social lending platforms.

What we are finding out now is Celsius lied. This isn't the first time this has happened in the financial world. Enron did it. Lehman Brothers did it. Now these Crypto institutions are doing it.

The media is portraying that customers who deposited here were earning 17% and therefore implying that the customers are stupid and deserve to be hosed which is incredibly far from the truth. Customers were making nominal returns just trying to keep up with inflation and a diversification from placing assets into an equity fund because bonds have sucked for the last 15 years.

What really sucks about all of this is my asset's value is in tact. My asset value is the same. It's just that the institution I hold the asset in has filed for bankruptcy because of horrible mismanagement, perhaps even fraud. At one point they had 12 billion in assets comprised of individuals and large sophisticated investors.

I absolutely will take this as a learning lesson, but I also get frustrated when people point and laugh at victims like this saying they should have known better. The last time this "happened" on a large scale the victims got bailed out by the government. This type of thing could happen to anyone.

[APB]

I, too, have never really understood the crypto market and have thus refrained from investing anything into it. Horror stories like yours will likely keep that personal trend going.

[Realist]

lol. rewards.

All the "rewards" I have been paid are in Celsius. It was a joke when they continued "paying rewards" to us when our accounts were locked.

Celsius communicated that all their loans were fully collateralized. They flat out lied. And they fooled a lot people. Not just retail dummies but sophisticated money managers, pension funds, etc.

I had my house remodel fund in there. I guess no more bathroom and kitchen now.

As an older guy I have never understood the crypto thing. Never heard of Celsius. Keep it simple gentleman.

I did. The "crypto" I hold is USDC which is a stablecoin. The Stablecoin is backed and fully collagenized by US Dollars so the coin always equals a dollar. And that peg has remained. My asset value is still the same.

The Celsius platform is a lending site where depositors would give Celsius the funds and they then would lend out those funds to pay the depositor interest. Celsius always stated all of their loans were fully collateralized and the company always had enough liquid assets to pay for any "bank run". They stated they had far more collateral than a traditional bank implying they were "safer" than a bank.

So the idea was Celsius would take my funds, pay me 6% and then lend out the crypto for short term loans to customers at 8% to 12% and Celsius keeps the margin. Somewhat a similar model to social lending platforms.

What we are finding out now is Celsius lied. This isn't the first time this has happened in the financial world. Enron did it. Lehman Brothers did it. Now these Crypto institutions are doing it.

The media is portraying that customers who deposited here were earning 17% and therefore implying that the customers are stupid and deserve to be hosed which is incredibly far from the truth. Customers were making nominal returns just trying to keep up with inflation and a diversification from placing assets into an equity fund because bonds have sucked for the last 15 years.

What really sucks about all of this is my asset's value is in tact. My asset value is the same. It's just that the institution I hold the asset in has filed for bankruptcy because of horrible mismanagement, perhaps even fraud. At one point they had 12 billion in assets comprised of individuals and large sophisticated investors.

I absolutely will take this as a learning lesson, but I also get frustrated when people point and laugh at victims like this saying they should have known better. The last time this "happened" on a large scale the victims got bailed out by the government. This type of thing could happen to anyone.

Thx for the post. Not sure how I had never heard of this celsius thing which is a bit concerning. Hope it works out for u.

[Waldo]

I, too, have never really understood the crypto market and have thus refrained from investing anything into it. Horror stories like yours will likely keep that personal trend going.

I'm not a gambler, even trading stocks is too much for me, so I haven't been interested in Crypto at all in that way, but long ago before Bitcoin really took off I was a miner. Probably should have just sat on it, because BTC wasn't even $10 when I was a miner, pretty sure I mined more than a single coin. But mining wasn't very profitable for small timers once the big boys really started coming online. Its probably been 10 years since I last had a miner running.

[Captain_Ben]

I'm still in AMC. SP back up today. Not holding my breath but maybe this could be the start of what we thought would happen?

[BF004]

I'm still in AMC. SP back up today. Not holding my breath but maybe this could be the start of what we thought would happen?

Some fomo and likely short covering past few days with this preferred equity stock split coming up later this month.

Have probably sold like 50-75 covered calls this year, been cleaning up, but got two for this Friday at 18 and 22. Nervous about losing those shares now, haha.

[Captain_Ben]

Read something interesting over the weekend. Apparently in 40 of the last 47 January's, the performance of the stock market at the end of the year correlated with the its performance in the first week of January. When it closed up at the end of the first week, it closed up at EOY. And vice versa. Of the 7 years that it didn't, 4 ended up being recessions.

And it happened again this year.

[BF004]

[Captain_Ben]

I only ever see people discussing her wins. Do we know of any losses that she has?

[APB]

Anybody following the return of Roaring Kitty and what looks like the climax of his final play with GameStop? Fascinating stuff.

[paco]

Would be nice if AMC took a big run like it did before. But I doubt it will. I bought very little and bought at the wrong time. So I'll eventually take a loss on it. But its so small, I don't care letting it ride and see what happens.

[APB]

[BF004]

Well the halts are automatic. Cant remember the specifics, but something like if it move 10% in 1 minute or 20% in 5 minutes, it automatically halts. Circuit breaker.

I made those numbers up, but its something like that.


Nothing to do with meme stonks.