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  1. #10126
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    Quote Originally Posted by shera View Post
    But hasn't the GDP of El Salvador benefited since bitcoin adoption? Thought I read that somewhere...
    According to article in Economist magazine ... El Salvador is much worse off financially since bitcoin adoption....and the dictator is increasing restrictions on media / free speech ... But the dictator increased his own wealth so that's what's most important to the bitcoin hucksters
    what's so funny about peace, love, and understanding?

  2. #10127
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    Freakanomics is doing a mini series on Crypto - First episode last week. It was a good listen. Stephen does a good job straddling the tight rope between the two sides of the discussionÖ


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    Best Skier on the Mountain
    Self-Certified
    1992 - 2012
    Squaw Valley, USA

  3. #10128
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    Quote Originally Posted by up an down View Post
    According to article in Economist magazine ... El Salvador is much worse off financially since bitcoin adoption....and the dictator is increasing restrictions on media / free speech ... But the dictator increased his own wealth so that's what's most important to the bitcoin hucksters
    this guy?! I'm shocked! he looks legit. Click image for larger version. 

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    Sent from my SM-N986U using TGR Forums mobile app
    Quote Originally Posted by Hohes View Post
    I couldn't give a fuck, but today I am procrastinating so TGR is my filler.
    Quote Originally Posted by skifishbum View Post
    faceshots are a powerful currency
    get paid

  4. #10129
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    Jan 2005
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  5. #10130
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  6. #10131
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    Confirmation of what we knew. Man, they must have some serious coin considering all of their projects.
    https://coloradosun.com/2022/06/28/o...to-mine-solar/
    Is it radix panax notoginseng? - splat

  7. #10132
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    Bitcoin....who's gotten into it?

    If Bitcoin keeps bouncing around the 20k mark, does that mean it is likely to go lower? Seems like the support that held it is likely to erode with a second extended dip below $20k.

    For what itís worth my programmer / EE friend who retired at 32 from Tesla remains convinced that the underlying tech is really good and that this is a blip similar to the 99 tech crash. He claims that he could see himself buying ďa couple hundred thousand more $Ē worth of Bitcoin if it drops much lower. He did manage to cash out on Tesla completely when it was near its all time highs. Maybe there are a lot of people out there like him. 🤷


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  8. #10133
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    Quote Originally Posted by neufox47 View Post
    If Bitcoin keeps bouncing around the 20k mark, does that mean it is likely to go lower? Seems like the support that held it is likely to erode with a second extended dip below $20k.

    For what it’s worth my programmer / EE friend who retired at 32 from Tesla remains convinced that the underlying tech is really good and that this is a blip similar to the 99 tech crash. He claims that he could see himself buying “a couple hundred thousand more $” worth of Bitcoin if it drops much lower. He did manage to cash out on Tesla completely when it was near its all time highs. Maybe there are a lot of people out there like him. ��


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    Your friend has enough brains to buy at a lower price.. And the brains to sell after a huge price increase.. Unlike the hucksters and bitcoin religion cult members
    what's so funny about peace, love, and understanding?

  9. #10134
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    Mar 2006
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    Bitcoin....who's gotten into it?

    Technically, when something bounces around the lows after a big decline it usually goes lower because a market doesnít give you that much time to buy the low. Or, it moves sidewise and develops a solid base. ďThe longer the base, the higher in spaceĒ

    Is Celsius in cash or do they have more to sell since it looks like bankruptcy?

    I suspect there was a lot of activity in recent weeks so market makers could get ready for BITI.

  10. #10135
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    Why does it look like bankruptcy? I never heard anything like that from Celsius, only from engagement farmers. Do you have a source?
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  11. #10136
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    Quote Originally Posted by shera View Post
    Why does it look like bankruptcy? I never heard anything like that from Celsius, only from engagement farmers. Do you have a source?
    Isnít pausing withdrawals a giant red flag?

    Click image for larger version. 

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    https://twitter.com/silvermanjacob/s...oHOjLXshZXUpNg

  12. #10137
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    Bitcoin....who's gotten into it?

    Quote Originally Posted by shera View Post
    Why does it look like bankruptcy? I never heard anything like that from Celsius, only from engagement farmers. Do you have a source?
    CNBC discussion about an hour ago. There is no path out. Their only solution is open up and no one sells. Thatís not happening.

    Itís what their lawyers want?

    ďCelsius, dogged by a liquidity crisis for weeks, has been resisting guidance from its own lawyers to file for Chapter 11 bankruptcy.Ē

  13. #10138
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    There could be a miracle 100% rally in assets to bail them out.

  14. #10139
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    the WSJ reported recently that Cel has been hiring bankruptcy lawyers.

    Goldman Sachs is preparing to buy the distressed assets if/when Celsius goes bankrupt.

  15. #10140
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    Quote Originally Posted by frorider View Post
    the WSJ reported recently that Cel has been hiring bankruptcy lawyers.

    Goldman Sachs is preparing to buy the distressed assets if/when Celsius goes bankrupt.
    They have to auction to highest bidder? GS could step in pre BK but donít think theyíd want any custodial liability

  16. #10141
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    Quote Originally Posted by shera View Post
    Why does it look like bankruptcy? I never heard anything like that from Celsius, only from engagement farmers. Do you have a source?
    get your money the fuck out of Celsius as soon as you can

    https://www.wsj.com/articles/behind-the-celsius-sales-pitch-was-a-crypto-firm-built-on-risk-11656498142

  17. #10142
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    Quote Originally Posted by 4matic View Post
    They have to auction to highest bidder? GS could step in pre BK but don’t think they’d want any custodial liability
    https://markets.businessinsider.com/...ets-2022-6?amp

    GS would be acting as broker.

  18. #10143
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    Ok, thanks. No new information. I'm just waiting, not much else I can do.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  19. #10144
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    Quote Originally Posted by dunfree View Post
    Is that even possible? Wonít people just be getting a return of the portion the bankruptcy court allocated to them? I donít know much about this, but I thought the thing about Celsius is that they leveraged the money / assets people put in so the assets will be sold to pay off creditors? If Celsius says they had $11B of assets and GS is brokering a deal at $2B doesnít that mean everyone is going to get ~$.15 on the dollar back?

  20. #10145
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    ďAssets?Ē Like leveraged loans? Itís all one giant derivative contract. Itís completely opaque what they actually have in reserve.

  21. #10146
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    Not like lev loans
    Decisions Decisions

  22. #10147
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    Quote Originally Posted by neufox47 View Post
    Is that even possible? Wonít people just be getting a return of the portion the bankruptcy court allocated to them? I donít know much about this, but I thought the thing about Celsius is that they leveraged the money / assets people put in so the assets will be sold to pay off creditors? If Celsius says they had $11B of assets and GS is brokering a deal at $2B doesnít that mean everyone is going to get ~$.15 on the dollar back?
    some of the bailout proposals for other crypto corps have preferred equity to customer accounts.

  23. #10148
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    Quote Originally Posted by 4matic View Post
    ďAssets?Ē Like leveraged loans? Itís all one giant derivative contract. Itís completely opaque what they actually have in reserve.
    My (very limited) understanding is that people either put $usd into Celsius or contributed bitcoin and other crypto. So the assets would be crypto currency.

  24. #10149
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    Quote Originally Posted by dunfree View Post
    some of the bailout proposals for other crypto corps have preferred equity to customer accounts.
    No shit, they have lower priority than equity!? Thatís fucking nuts, although I guess it makes sense given the advertised returns.

  25. #10150
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