4 ms·
If you buy Celsius, you should already know the added risk of buying a shitcoin and act accordingly. Meanwhile when you use a bank, then you expect to always be
by kebman 4y ago
If you buy Celsius, you should already know the added risk of buying a shitcoin and act accordingly. Meanwhile when you use a bank, then you expect to always be able to access your funds. If that social contract is broken, then you can expect real consequences. In this case it was a man making legitimate use of force to get access to his own property.
Many crypto coins attempt to solve the problem of third parties confiscating your property, and first and foremost of them is Bitcoin. That's where the moniker "unconfiscatable" comes from. And let’s face it, if the guy had instead used Bitcoin, he would never have gotten into this problem (tho the value of his holdings would indeed be very volatile).
Sure, you can always act like a criminal and make threats or use torture to get it. But IMHO that's a very quaint and sad example that only serves to prove the point, because those are the lengths you have to go to in order to get it, as it's otherwise impossible to pry out of your brains. That’s why all serious "cryptobros" suggest that your highest allocation should always be Bitcoin, before you even consider any other crypto coin. Because the quainter and more experimental the alt coin is, the higher the risk of frozen accounts or worse, a coin that goes to zero such as Luna.