T O P
devboricha

If you don't know source of yield, you're the yield. People learn hard way


Clash_My_Clans

And don't be someone else exit liquidity


Set1Less

This is very much a scam. Celsius are trading their way out of insolvency, when they should be going into administration and let professional liquidators decide the future course of action Mashinsky ran this fund into the ground.. and then is now trying to revive it himself All with users funds Fucking disgusting


7101334

They're also censoring negative posts on their subreddit. If you google "reveddit CelsiusNetwork" you can see the massive number of posts that CelsiusNetwork mods are removing. The ones that say "Removed by reddit (spam)" were most likely removed by mods using automod settings, you can see by the content of the posts that they aren't actually spam in most cases.


JohnyMaybach

But banks are evil… what a tool


vattenj

And most likely they will make the wrong bet again, shorting the market while it sharply rebounces, armature trader's first lesson, buy high and sell low


100problemss

I don’t mind them trying to trade themselves back to solvency.


bbalazs721

If they manage to trade themselves out, great. The issue is if they end up losing even more, they lose our money, not their.


human-no560

Do you have money with them


100problemss

I had 12k


Mordan

12k .sad... nyk nyc. satoshi lesson for you


LittleSeizures7

Thats how they are going insolvebt in the first place! You must be trolling.


Days_End

Welcome to DeFi. We have so many laws against this in traditional finance to the point where managers doing this go jail. If a fund becomes insolvent there's no downside to just gambling with the users funds. If you succeed stuff probably blows over and you can keep running if you don't you're in the same boat as you were before you started gambling.


Set1Less

Celsius isnt defi. Its a fund registered in USA. Its totally a centralised company offering depositors interest on their deposits. The only reason this falls outside the boundaries of current laws is because the existing securities act doesnt quite define these tokens as securities. So a centralised company is exploiting this loophole to run a completely unregulated hedge fund. Yeah you are right, in traditional finance this doesnt happen as a fund seeking users deposits in USD via regular banking system has a lot of rules and regulations to follow., especially when it runs into financial difficulties. It is a registered hedge fund. Celsius is using crypto tokens, so there are no laws for this atm - its running an unregulated hedge fund.


MilkmanBlazer

Wait so I shouldn’t…just buy the dip?


SlyckCypherX

Not this dip, but tomorrows dip. Or day after. Or day after that. Or day after that…or… TLDR: Just DCA.


YoYoMoMa

You should! In an index fund.


nebling

Well even i wouldn't touch an index fund at the beginning of a bear market Best to wait a few months


-Rookery-

"Beginning of a bear market" Cryptocurrency subreddits in a nutshell.


JuiceColdman

Or bitcoin


devboricha

That's too


TheTrueBlueTJ

Shit, I identify as exit liquidity...


SlyckCypherX

Bring it in… ![gif](giphy|Dvw2lJqlTuJmo)


deathbyfish13

Reminds me of Rounders. "If you can't tell the sucker within 30 minutes of sitting down at a table, you are the sucker"


Maleficent_Plankton

> If you can't **spot** the sucker ...


deathbyfish13

Yeah that sounds about right, not bad for doing it from memory though lol


SlyckCypherX

What if you spot 3 suckers? Do you go beast mode or take it easy on em?


badfishbeefcake

Im a winning poker player, and the sucker can be on fucking fire for hours. Rounders is fun, but dont watch it to learn how to play.


YoYoMoMa

Everything about how crypto has been sold for the last decade has screamed that anyone investing in it is the sucker.


laulau9025

The same goes for: If you don´t know the product, you´re the product...


tranceology3

I still haven't figured out what the product is for reddit...but I really enjoy that they give me a free platform to constantly engage on, while i sometimes click on ads...


iEatGlew

From roaming through some of the subs, I’d say the product that Reddit produces is cancer…


DocOneToo

Or autism, depression or one of 1000 other self diagnoses that the user base loves to pretend they have at a far higher rate than the general population.


EthereumNecklace

Narrative formation, just look at r/politics


Crypto_Gaming_

If you can't liquidate, don't be the liquidity


Farrellfernandez

If the product is free like Facebook,,, Then you are the product.


divinesleeper

Here's this pretty much confirmed by one of the devs of Bancor: [https://www.youtube.com/watch?v=B2mVaPFFdoE&t=3120s](https://www.youtube.com/watch?v=B2mVaPFFdoE&t=3120s) 52m mark.


CrowdGoesWildWoooo

Most people are already aware of what the lending protocols are doing for the lending-to-short part. Most are totally okay with it. What people might not aware of is the other ways of generating yield. Take for example celsius had used anchor and badger to generate yield. Most don’t know until we heard the news that these protocols are compromised. For me personally i am okay with this because : 1. Short needs to cover eventually 2. It’s not like they could short BTC to 0, even if BTC goes to 0, that would probably highlight a deeper issue, and secondly it doesn’t matter whether where I put money if the value of it is 0


tamaleA19

Hard to keep a ponzi going when there are no more people buying in. And hard to imagine many people choosing to put more money into Celsius right now


filletnignon

My question is what to do if I have funds in Celsius? I could move my coins to a cold wallet, but that resets the timer on when I can sell without paying higher taxes. Wondering if there's a chance I could lose out on anything that isn't insured if Celsius goes under.


teperilloux

Only a sale or buy triggers a taxable event or new cost basis


WolframRuin

I knew why I didn't give my funds to lending platforms. Better stake than sorry.


ouyin2000

If you don't know why a transaction happened, don't speculate on Reddit.


devboricha

People who yolo someone's retirement money deserve special place in hell.


POVTips

proof of shorting??


never_safe_for_life

There is none. However I'd love to hear your take on what legitimate actions they could be taking transferring millions to FTX.


Khemul

Pfft. Proof. Like anyone has time for that around here. 🤣 But in all seriousness, yeah, I mean, it's quite possibly what's happening, since it isn't all that weird a concept in finance. But crypto has a ton of people who grab one or two bits of evidence and then feel confident in filling in everything else with broad assumptions that have no real evidence.


UnderShaker

quite possibly = trust me bro. All I see on the chain are transfers to FTX, you can't see which position they took with it


Khemul

Yep. Very common around here. It's the same way all the Tether FUD works. It's all stuff that could be true, but has no real proof either for or against, and so has massive holes in evidence filled with assumptions.


lamonsieur_biz

Lmao the Tether FUD is that they haven’t once proved that USDT is backed up by stable collateral like USD, the wholes in the evidence is cuz Tether won’t ever fill the holes up with real evidence. Lack of evidence over years of given the opportunity to provide it is proof in itself


drudd9

>proof of shorting?? Is that the latest blockchain protocol?


ouyin2000

OP has none.


ouyin2000

OP, where is the proof that Celsius transferred to FTX for the purpose of shorting CEL?


energetic-dad

Yeah that's kind of a critical piece of info that is just....missing


ouyin2000

It's not missing. OP pulled it out of their ass.


partymsl

A lot of CEL critics have no actual proof. For me CEL drama seems more of a coordinated attack against it.


crypt0_sports

So they are gambling with customer funds? What could possibly go wrong


daddyfishers

Shorting in this market seems like easy money. So they're doing the right thing: Making profit off users funds so they can buy their new lambos before telling their users its all gone.


jetro30087

And then the market unexpectedly rallies, and they lose more funds chasing crowded short trades.


mellowanon

around the time the funds were changed, BTC was around 18k. So if they shorted at that time, then they would have lost money since market has recovered a little bit since then.


JaimeJabs

Oh, if the shorts become too heavy, someone's gonna liq them all up. The market is ripe for a short sequeeze.


DerpJungler

That would be glorious ngl


JaimeJabs

You heard about the whale that avoided $140m liq by 20 dollars, even though on most CEXs, the price went below the liq price. I shat bricks and I'm not involved.


HelpMeSucceedPlz

What?? Do you have more details?


jefftopgun

https://www.business2community.com/crypto-news/eth-whale-liquidation-price-missed-by-20-cents-02507294


HelpMeSucceedPlz

Fascinating. Thank you. And, just to be clear, if the price had gone lower, it would have triggered an automatic sale at any price of 152,000 eth? Wow. Now looking at the guy selling $160M of SOL if it ever reaches $22 Edited to add the 160


JaimeJabs

I'm high as fuck right now, so I cant be a reliable witness. There was a post about it in cc though.


JusticeLoveMercy

So are they freezing peoples accounts while simultaneously shorting the market to make a profit of of it?


raymmm

I mean... Its not their money they are gambling with anyway. There is no difference to them if the company declare bankruptcy with 1 million dollars debt vs 1 billion dollars debt.


ledningenn

Shorting in this market is extremely difficult. Just look at the volatility. Nobody can predict where it’s going to move an hour from now. And, as most of these blockchains have no intrinsic value, or revenue/growth guidance to look for, I’d say it’s impossible to know what the fair price is. If you don’t know what the fair price is, how can it be easy to bet on the market value of the tokens (as a representative of the underlying fully diluted market cap)? You could argue that you could make a play in relation to market sentiment, or “momentum”, but that’s highly risky and very difficult to time: How do you know when sentiment changes?


franzperdido

So this is why we haven't been falling more. Good old short squeeze


Spacedude2187

Haha. Its gonna go bad I promise, no lambo here in this megabrain tactic


crypt0_sports

Sigh. That’ll be the day of the pump and THEN the announcement goes up like you said lol


niloony

If they can short everything to zero then they can hand back everyone's crypto.


DerpJungler

"Here guys, we are returning all of your coins but they are all worth $0. Dont forget to diamond hand them!"


HelpMeSucceedPlz

Reminds me of a company who's lawyers agreed they owed me 6 digits preceding the decimal point. The company exec's all voted to pay themselves massive bonuses (million$) then file for bankruptcy. 7+ years later, I ended up with a check with 4 digits preceding the decimal point. While it feels extremely fraudulent (and I could get more $$ after a LOT of effort if I could prove fraud ... but it's very hard), I was frustrated and cashed the check and paid off all my credit card debt.


trash_0panda

If they don't trade on lev and currently has a position in lets say btc, they could be hedging instead of naked shorting. Naked shorting/trading on lev is where it'll all implode.


mellowanon

what's funny is that usually after a steep drop, the market bounces back a little. If they shorted the market at the low, a market rise may cause them to get margin called faster.


deadlyclavv

technically all fund managers and hedge funds does this


StereoZombie

Same holds for banks with fractional-reserve banking, but that's tightly regulated, especially since the 2007 financial crisis. In crypto however, who knows how well it's regulated, and it wouldn't surprise me at all if they would be gambling away everybody's funds before disappearing off the face of the earth.


Clash_My_Clans

Always has been 💰 👨 🔫 👨


MonsieurReynard

They were always gambling with customer funds.


deathbyfish13

Yeah this couldn't possibly end poorly, right? /s


tamaleA19

What do you wanna bet the geniuses used leverage? Try to make it all back in one (or a few) moves


Jeromechillin

Celsius went from a wannabe bank to straight up locking people out of their money and turned it to a hedge fund.


Elout

They made it. They are a bank now.


MonsieurReynard

If they were a bank, depositors would be made whole by insurance.


D1NK4Life

They are a bank from the 1920s...


Gandhi70

Banks are regulated,..


InTh3s3TryingTim3s

Only banks that participate in FDIC insurance are


tamaleA19

Classic bank move circa 2007


Slick424

? I am unaware of any FDIC insured bank account losing money in 2007.


sir_chadwell_heath

If you were over $250k in an account with a bank that went under, you lost the difference. Granted I'm sure that wasn't many.


TheTrueBlueTJ

Featuring Celsius as the bank Starring Mads Mikkelsen


UberSeoul

Unbank yourself, so that we can bank off you.


CommitteeSalt8099

Crypto is good, Banks are bad, buy crypto now! Oh boy, how the tables have turnt


Gods_Shadow_mtg

One of the major advantages of crypto if you ask me. I really like that it is so transparent.


Puzzled_Raccoon8169

Not sure it helps to watch the video after you got **cked. Not convinced that’s the best way to deal with trauma. My understanding was the purpose was to create a trustless system where one could confirm that Party A had the promised funds for a transaction without contact with Party A. Seems recent events have required a fair amount of trust and resulted in violations of trust (SURPRISE!!). Ima re-evaluate my strategies and unless there’s a material benefit to exchange holding (card stakes, lowered fees, etc.) I don’t think ima keep enough on exchanges anymore for there to be any material benefits from the “earn” programs.


Spacedude2187

I do too. Some market makers are gonna see this and Celsius is gonna go ”tits up” because of it. All they need to do is Pump the market, liquidate celsius and scoop up even cheaper BTC.


deathbyfish13

No one can hide with a transparent blockchain...


Gods_Shadow_mtg

yeah, that is the whole deal of it, Blockchain is supposed to be a public track record so we can track illicit activity of politicians, companies etc.


saladthumb

I thought anonymity and immunity from government intervention was the point?


Gods_Shadow_mtg

pseudonymity and immunity which both are still the case


mesasone

Anonymity and Privacy are not the same thing.


AblePaleontologist0

You want to see real denial? Hop on the celsius sub - I saw a post there telling people to deposit more money into Celsius and hold it there for the next 10 years to keep Celsius afloat. Insane!


Electronic-Tonight16

Sounds like the terraluna sub


TheTrueBlueTJ

"When is Luna 3.0 going to launch?" "Don't worry, we will definitely go back at least to $40!"


balancing_shorts

You see it everywhere. Safemoon, Luna, Celsius. Stockholm Syndrome at its finest...


theazerione

r/wishstock my guilty pleasure


daddyfishers

Im sure its the Celcius founder.


paradoxally

"guys we need to help Celsius avoid liquidation pls put more money in" Unreal.


wirexyz

What is the name of the sub


toiski

/r/celsiusnetwork not to be confused with /r/celciusnetwork


crypt0_sports

No way


RyanShieldsy

Not really suprising. There’s people who’ve potentially lost everything they had in this, it’s not shocking that they’d go to any length to keep Celsius afloat on the off chance they could avoid financial ruin. Desperate situations call for desperate measures and that’s what you’re seeing over in that sub


r2pleasent

Mate, depositing assets in a CEX does not necessarily mean they are speculating. There are many strategies they could be deploying that remain long LINK.


OneManArmySniper

Isn't it normal to try and recover by shorting your losing assets? Lose on one side, recover the loses on the other one? Isn't what big financial institutions do? Legit question


thatmanontheright

Yea hedging with shorts isn't uncommon at all.


No_Berry2976

The idea is to use shorting as an insurance before you lose money. It’s the same as with everything else, if you lose money, spending more money to try and win that money back can be a very bad idea.


riwang

You don't do that after already sustaining the loss


joekercom

You have no idea why they're making these moves or what their plans are


CymandeTV

They are gambling like every one of us.


daddyfishers

Isn't that the only purpose of crypto?


Slick424

No, but that is what it became.


artmorte

For real, the vast majority of crypto's value / market cap is based on pure gambling. Crypto will continue to be hugely volatile for as long as the main reason people put money in it is gambling.


Clash_My_Clans

*No they are in it for the tech* 👀


Bunker_Beans

At least we’re gambling with our own money.


Laughingboy14

Or the exchange's when we lever up lol


FabulousAd123

What? You say blockchain is open, say what the did on there is good and then speculate on what they're doing on FTX eventhough you have no clue what they're doing? This post is just bs


XbladeXxx

35m within multi bilion assets is nothing . People want show how they are smart.


FabulousAd123

That too, a lot of people are worrying about stuff like that were less than $50M of assets are involved when Celsius has been handling billions for at least 2 years. And in this case it's $35M and they're just talking bs about what they're doing using dumb and unfounded arguments


divinesleeper

When you withdraw to a CEX it is to sell. Selling an asset is equivalent to a short in the case of Celsius, because they have to repay their assets to their customers. Celsius is underwater as evidenced by withdrawals halting, yet instead of unwinding and putting assets back that they have left, they are doubling down by engaging in trading behavior.


2010NeverHappened

You are making assumptions that are literally untrue. You can send to an CEX for custodial reasons, margin reasons, lending reasons and selling. Also selling something is not the same thing as shorting something, shorting something implies you are selling an asset you need to repurchase to make a delivery to someone else.


FabulousAd123

Please read the comment the other person made and stop making up stuff


ouyin2000

You have no idea what you're talking about.


Ratty-fish

You don't know what they're doing on FTX, and selling is not shorting. You're either grossly misinformed or a drama queen.


trash_0panda

If they don't trade on lev and currently has a position in lets say btc, they could be hedging instead of pure shorting.


CamboMcfly

There’s no proof here of any of this shorting


TarpFailedMe

Damn, this is getting worse and worse. If they ever unlock their clients accounts, which they probably won't, lets hope people remember these dirty deeds.


daddyfishers

Oh they most certainly will not unlock.


laulau9025

I sincerely hope I´m wrong, but I also don´t see this happening...


genobeam

From Celsius' terms page: >YOUR CELSIUS ACCOUNT IS NOT A BANK ACCOUNT, DEPOSIT ACCOUNT, SAVINGS ACCOUNTS, CHECKING ACCOUNT, OR ANY OTHER TYPE OF ASSET ACCOUNT AND SHOULD NOT BE CHARACTERIZED AS A BANKING PRODUCT OR SERVICE. THE USE OF TERMS SUCH AS “ACCOUNT,” “ACCOUNT BALANCE,” “WITHDRAW” AND SIMILAR LANGUAGE IN CONNECTION WITH THE EARN SERVICE AND THE BORROW SERVICE (SEE FURTHER SECTIONS 4(D) AND 4(E) BELOW, RESPECTIVELY) DOES NOT IMPLY OR ESTABLISH, AND SHALL NOT BE TAKEN TO SUGGEST, ANY FORM OF CUSTODY RELATIONSHIP, AND SUCH LANGUAGE IS USED HEREIN AS TERMS OF CONVENIENCE ONLY IN REFERRING TO USERS’ BORROWING OR LENDING OF DIGITAL ASSETS TO OR FROM CELSIUS AS PART OF THE EARN SERVICE AND BORROW SERVICE, AND CELSIUS’ OBLIGATION TO TRANSFER DIGITAL ASSETS TO USERS UPON THE TERMINATION OF SUCH LOANS OR REPAYMENT OF SUCH BORROWING IN CONNECTION WITH THESE SERVICES. Any money "deposited" into Celsius was actually "loaned" to them. They used those loans to gamble on crypto and now users are SOL


hungryforitalianfood

Users are now SOL? Well at least they don’t have to work 24 hours a day.


germangrower69

You cant make this shit up. For people who still dont understand what Celsius really is, let me ELI5: Imagine you used DeFi for the first time and found stuff(ponzis) like Anchor Protocol, that promise you 19% yield on your crypto deposits. You deposit your few thousands bucks into it and it really pays out. So what do you now? You cant get rich of 19% yield on a few thousand bucks. You make a business out of it. You promise clueless retail investors 9% yield on their deposits to you. So you can cash in the 10% delta. Now, there are thousands of protocols like Anchor, which promise high yields. So you "diversify" into different DeFi Protocols. Everyone who is long enough in crypto knows that this yields are unsustainable and these ponzi protocols blow up sooner or later. But that shouldnt hurt you since you are not using your own money but your customers money! But this way you can only make a few % and not get super rich really quick. So you release a Token! "Why would someone buy your token?" Because you promise them a higher yield on their "investments". Then you sell millions of your own tokens to clueless retail investors who think they are investing in a "new type of crypto bank that really looks legit! Look at their website!!". So basically, you invest your customers money into ponzi schemes, release a useless token to promise them more ponzi yield. And when the market takes a nosedive and these yieldfarm ponzis collapse you didnt really lose anything because you dont have to pay your customers the money back but can keep the millions of your own token sale. Its insane! We need regulation and some kind of new laws to send these people into jail. Thats straight up robbery and idiocy thats super forbidden in the real traditional finance world.


friendscout

And in fact you write into your terms of usage that retail investers don't make a deposit but an unsecured loan to you. So your not even obliged to pay back. Clever.


Nrgte

Exactly, yet we still see specialists on a regular basis that don't want any regulations in their crypto space and are advocating for privacy tokens.


LyrradC

Good example is a company called "Stablegains". They promised 15% on their customers and threw all money into anchor, pocketing the difference. They lost millions of customers funds.


LoveMeSomeMulch

It's only robbery in the ethical sense. Without regulation, what they did is legal (and highly profitable for them).


Huijausta

Why do you assume the tokens are sent to FTX for speculative purposes ? Couldn't they have made an agreement of sorts with FTX, getting LINK for cash or ETH ?


divinesleeper

Selling LINK for cash/ETH is the equivalent of a short. Any asset they sell or trade at this point is speculative behaviour, instead they should be putting assets back in their wallets so users can start withdrawing what is left Instead they are continuing to trade in the hopes of making back the deficit they lost. Doubling down.


aceofangel

Why do it with just a bit of LINK though. Celsius can unwind all the borrows leaving them still exposed to client loans. In fact, they could have just done it prior to announcing the withdrawal freeze. Freeze was near certain to cause a crash, would have profited massively on the short exposure.


Fine-Artichoke-7485

Is anyone noticing FTX seems to always be in the story line frequently with these liquidations and rug pulls. Tell me if I'm being too suspicious


Puzzled_Raccoon8169

Wondering that myself. My Papaw had a couple of saying. 1. If you mess with chicken shit long enough ur bound to get some on you. 2. If you lay down with dogs you’ll wake up with fleas. The jist of both is fairly true and it does seem that FTX seems to be catastrophe adjacent an awful lot. I also can’t square in my mind how it is that SBF is operating in the space he is and yet politically aligned with non-capitalists. He’s got a Clayton Bigsby vibe.


tiktaktok_65

well FTX has a lot to win if competition gets annihilated.


randeezusreal

Are you saying Nexo and Okex are doing this well?


orbofdeception

u have proof that they sent money to exchanges but u dont have proof that they are shorting them


WallstreetBytes

So should we trust a random Redditor that says Celsius is misusing funds to short? AlRiGhTy ThEn! 🥴


ouyin2000

Noyes.


someGuyJeez

If someone could figure out all of Celsius short and longs so We can bet against them, that would be great.


boinkjoint

[https://debank.com/profile/0x76a05277b81b9ca6c06c9ab4136116fc53e9c9e1/history](https://debank.com/profile/0x76a05277b81b9ca6c06c9ab4136116fc53e9c9e1/history) [https://etherscan.io/tx/0x085159d90f864f246386e4d3c099c527d59c6227188bf40cfce2a324840b2b1a](https://etherscan.io/tx/0x085159d90f864f246386e4d3c099c527d59c6227188bf40cfce2a324840b2b1a) ​ This is where the LINK ended up. What does "Contract Interaction" imply?


kaicoder

Bit of a question then... if FTX/Alameda is trying to exact revenge (allegedly) for Celsius exiting Luna and not telling anyone. Why are they using FTX at all?


discrete_moment

Awh come on, you have no idea what they’re doing with the funds. Could just as well be market making or arbitraging or something else.


aesgan

Is nexo in the same boat?? I held my funds 100% there and some fiat... I removed it all and left only nexo... But dont want to lose that too :(


Mattcwu

Are you saying multiple large organizations are taking short positions on LINK right now?


AutonomousAutomaton_

It’s their only shot at making everyone whole. Double or nothing


InteractiveLedger

Really there is insufficient evidence to say that Celsius is "openly shorting" those assets "on the open market". The blockchain only takes you so far.


Ferdo306

So if one wanted to fuck them over, pumping LINK would do the trick?


divinesleeper

Yes. Liquidations likely start around 0.007 against the ETH pair. Okex also has major liquidation around 0.01.


twinchell

If they sent LINK to FTX, how do you know they are shorting it and not just simply selling it for USD?


amazedknight

If you've kept your coins with a cryptocurrency exchange or CeFi service, you're effectively taking a short position without even realising because they lend it to those who inturn use leverage and take a short position.


Hungry_Pancake

Using customers money for degenerate DeFi strategies.


CutFabulous1178

The Blockchain being a public ledger is a BAD thing?


boinkjoint

Fud merchant. no proof, just fud


Harmless_Drone

I mean celsius very clearly has lost all their customers money, Ans now like a degenerate alcoholic gambler is convinced they can win it all back tomorrow down the dog races and no one will be any the wiser. This is a huge problem since it's a massive warning sign for how the company is run and it's long term prospects. Look up Baring bank or the sumitumo copper affair for examples of this.


set-271

And to think, just back in April, they told stakers they were kicking them off their platform unless they were "accredited" investors...that is, investors that could prove their net worth was over 200K. In life, whenever someone asks you for accreditation, always check theirs first.


dos_passenger58

Fyi, the accredited investor bar was $1mil


divinesleeper

I will add to this, that similar transactions can be found for CeFi exchanges Okex and Nexo. Okex is even exposed openly in LINK shorts on their DeFi Aave contracts. [https://etherscan.io/token/0x0b8f12b1788BFdE65Aa1ca52E3e9F3Ba401be16D#balances](https://etherscan.io/token/0x0b8f12b1788BFdE65Aa1ca52E3e9F3Ba401be16D#balances) These are the major LINK short holders on AaveV2. The top 5 wallets are all funded from Okex. The first liquidations of these exchanges start when LINK/ETH starts hitting 0.007 on the ETH pair (against which it has been gaining) Major liquidations start around 0.009-0.01.


--leockl--

The Nexo one was many many years ago..


Walternotwalter

Get off "yield" You are shorting your own holdings. Alameda gon give it to ya. Acknowledging who Alameda is should be something you have to do with your lawyer before you buy crypto. It's why you should avoid SOL and USDT. It's not a Ponzi. It's Alameda. Learn that saying. Everything's right in front of you. Why do you think Celsius is sending your money to FTX? FTX is Alameda. Why do you think SBF bankrolls politicians? Because regulation should make them illegal. If you are going to buy, do not keep anything on exchanges. GTF off exchanges take no "yield". Market liquidity is dominated by shorts right now.


haxClaw

>The problem with blockchain is that everything on it is transparent. Monero has joined the chat.


kirtash93

Sir, this is a Casino.


MonsieurReynard

I am shocked -- shocked I say! -- to find gambling going on in this establishment!


Elleucas

Good that with crypto can see what’s happening. Normal banks do it but you would never know


Electronic-Tonight16

Good thing with normal banks is they arent like Celsius. Everyone thats ever had a bank (in the US) lock everyone's funds with little hope they would unlock them, please raise your hands.


SirUnleashed

Oh come on, I never had a bank tell me my money is not there and I will not be able to retrieve it. In my country there’s also an 100.000 euro per person bank security so I will always be able to withdraw. Nice right .


MonsieurReynard

The federal government can see what normal chartered banks are doing. Every detail of it. It's been about a century since any American consumer banking customer lost a dime in a failed bank.


JusticeLoveMercy

Decentralization is essential.


DavidLeeImCEO

I can’t make a Reddit post so I’ll just say it here. Stop saying BTC will take over currencies. How do I explain this… The value on BTC is determined in USD. Therefore, the valuable currency here is obviously the USD. How can BTC take over any currency when it needs to be valued by a currency? Let’s say the whole world gets rid of their currency. And we have 1.8 million BTC circulating in between 7.9 billion people (rough estimates of world population). That’s 0.000278 BTC for every person. How do you even buy grocery with that? Get paid from your job? 40 hour job now pays 0.0000000001 BTC? A piece of celery costs 0.000000000000378 BTC? Because as all these crypto fanboys said, BTC is the future currency. So tell me how will the world work with 1.8m BTC while population’s ever growing? At the end of the day, BTC will just be translated to another currency where the rich 0.1% will have like 10 BTC while someone in Africa may have 0.00000000000000000000000001 BTC. It doesn’t work, does it. As I’ve said, BTC’s value is determined by USD, and therefore, USD is the only reason BTC has any value whatsoever. Imagine you have 100 BTC but you can’t sell it for usd nor can you buy any groceries with it. Not very useful is it. Even a rock’s more useful for being a rock. If you really believe crypto to be the future of all currencies, then, that means you never want to have usd (or any other currencies) ever again. Because you believe that in future, everyone will use BTC only. Truth is, all of you are buying BTC because you want your $100 UNITED STATES DOLLARS to become $500 UNITED STATES DOLLARS. You don’t believe in BTC. You’re only gambling for your USD to increase in value. So tell me again that BTC is going to take over the world as the future of currency? Wake the fk up.


Miggle58

Feeling a little left out here bro, as I deal in GBP.


Alekspish

You should probably learn a bit more about economics before posting.


divinesleeper

One bitcoin can be divided into up to eight decimal places, with constituent units called satoshis. BTC replacing the USD marketcap would put it at approx $1m at current rates. That means 1 Satoshi (smallest amount of BTC) would be worth 1 cent. Additionally, BTC can be divided down into even smaller units on the lightning network, which would ostensibly be used for everyday transactions (and already is in El Salvador)


SnooObjections4329

I can't wait for the future where I get paid in BTC, exchange it for ETH, buy NFT links to images of carrots and then cruise down to my local supermarket to exchange it for real carrots It's a bright future ahead


DavidLeeImCEO

Lmao for the looks of it that sounds about right. I mean, we have people eating laundry balls for dares so….


Gene_is_green

The currency has a value in USD because that’s the exchange rate. You know like every other currency on the planet there is an exchange rate. Also with Bitcoin, it would be measured in “Sats”. Nice try though.


DavidLeeImCEO

Again, then it’s like saying British Pound is going to take over USD or saying that China’s national currency will become Yen. Lmfao


Gene_is_green

I never said Bitcoin is going to take over all currencies. There will always be currencies issued by governments. I’m just saying it’s a moot point to discredit Bitcoin when it has an exchange rate. Because all currencies have one. Also last time I checked all fiat currencies have different buying power. For example the USD is worth more than other currencies.


DavidLeeImCEO

I understand your argument and your point. I’d like to add to this. All I’m saying is we should explain what BTC is for what it really is. BTC existed to buy things you don’t want to be caught buying. An untraceable medium of currency exchange. That’s all it is. It’s not going to become the next currency nor will every grocery will be adapting this inconvenience (imagine labeling all your grocery price in 0.00….1 BTC). People betting their life savings when they see news that Tesla are accepting BTC. This creates a false sense of use for BTC and it eventually got worse to a point where people thinks it’s the dominance currency in years to come. I hope this makes sense.


rwang411

This is the quadriga / Gerald Cotten way