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They're not letting customers withdraw limited amounts. They're not letting customers pay to avoid liquidations using frozen assets. You cannot pay collateral u

They're not letting customers withdraw limited amounts. They're not letting customers pay to avoid liquidations using frozen assets. You cannot pay collateral using CEL anymore. They're allowing adding collateral to add liquidations, but make a note to review their terms of service, probably hinting at the part that says customers are unsecured creditors and it becomes their money on bankruptcy. Super shady. The last AMA before the withdrawal freeze was really pushing hard on the idea celsius is in great shape and being attacked by paid FUD'ers with an agenda. It's over for them. Even if they get the funds back, they've broken trust and everyone will withdraw. The only communication you can get will be written by lawyers until bankruptcy proceedings start. https://www.youtube.com/watch?v=GyRO_W-utXs https://www.youtube.com/watch?v=GyRO_W-utXs

kristopolous 4y ago
> The last AMA before the withdrawal freeze was really pushing hard on the idea celsius is in great shape and being attacked by paid FUD'ers with an agenda That's what made me immediately drawdown my remaining balance (well ok I've got $30 in the still - who cares). Whenever any financial holding group is giving you confidence like that or assurances everything is fine they are telling you they're screwed. It should never even be a question. Think, say, Chase Bank or HSBC. Nobody even thinks about whether the bank has the liquidity for them to withdraw say $20,000. Once this becomes a subject of discussion, get the hell out immediately
bowsamic 4y ago
Unfortunately a huge amount of crypto hinges on "disproving FUD", but so often it is true. There is only one place where FUD is applied where it shouldn't: the FOMO of missing a bullish trend, and this FUD causes people to invest their entire life savings into crypto. I spent some time on a major crypto currency Discord, and the number of people I spoke to who have gone "all in" on crypto is actually astounding. Just no sense of risk aversion. People fear missing an opportunity to make money far more than they fear losing their money. Guess which happens? Then afterwards they realise the mistake they've made, and the suicide hotline numbers come out...
- bryananderson 4y ago
  > People fear missing an opportunity to make money far more than they fear losing their money. This trend is a fantastic lesson in why evolution has (generally speaking) settled on a bias toward loss aversion.
  - bowsamic 4y ago
    Somehow for a lot of people that bias does not extend to abstract financial investments

kristopolous 4y ago

> The last AMA before the withdrawal freeze was really pushing hard on the idea celsius is in great shape and being attacked by paid FUD'ers with an agenda That's what made me immediately drawdown my remaining balance (well ok I've got $30 in the still - who cares). Whenever any financial holding group is giving you confidence like that or assurances everything is fine they are telling you they're screwed. It should never even be a question. Think, say, Chase Bank or HSBC. Nobody even thinks about whether the bank has the liquidity for them to withdraw say $20,000. Once this becomes a subject of discussion, get the hell out immediately

bowsamic 4y ago

Unfortunately a huge amount of crypto hinges on "disproving FUD", but so often it is true. There is only one place where FUD is applied where it shouldn't: the FOMO of missing a bullish trend, and this FUD causes people to invest their entire life savings into crypto. I spent some time on a major crypto currency Discord, and the number of people I spoke to who have gone "all in" on crypto is actually astounding. Just no sense of risk aversion. People fear missing an opportunity to make money far more than they fear losing their money. Guess which happens? Then afterwards they realise the mistake they've made, and the suicide hotline numbers come out...

bryananderson 4y ago
> People fear missing an opportunity to make money far more than they fear losing their money. This trend is a fantastic lesson in why evolution has (generally speaking) settled on a bias toward loss aversion.
- bowsamic 4y ago
  Somehow for a lot of people that bias does not extend to abstract financial investments