I thought Celsius was trustworthy

[Anonymous No.49648165]

I have 1.1 BTC on Celsius. Ask me anything.

[Anonymous No.49648357]

Any apy above 1~2% is unsustainable, so if they're offering something above that, they're either losing money or their platform works as a ponzi scheme

[Anonymous No.49648508]

>>49648357
I understand that now.

[Anonymous No.49648694]

>>49648508
hey but you saved 1.88

[Anonymous No.49648878]

>>49648357

You can't look at APY and think its safe or not. You can get 40% APY on stablecoin LPs right now, which is near 0 risk. Lending is riskier than LPs. Regardless of the APY. Last year, APYs were commonly 20-40% as well, and anchor's 20% on UST seemed low. Many retards assumed it was safe because it was simple and "low." You have to do your own research. Sounds cliche but its true. All of these big failures were due to hoards of normie fucks fomoing into these broken projects that they had no clue how they worked.

[Anonymous No.49648925]

>>49648878
>You can get 40% APY on stablecoin LPs right now, which is near 0 risk
Depending of course on the stablecoin and integrity of the pool to IL attacks and pool runs (smart contract/governance exploits notwithstanding).

[Anonymous No.49648993]

>>49648165
Actually you have 0 BTC.

[Anonymous No.49649166]

>>49648993
But Anon, he has a "user account"

[Anonymous No.49649201]

>>49648925

I'm just talking basic pairs like USDC/DAI, even USDC.e/USDC on avalanche is hitting insane APYs last couple weeks. Which is pretty much equivalent to holding USDC. LP pools are extremely simple and impossible to hack assuming its a blue chip and obviously doesn't have rug code.

But its too much effort for nomies to move money around to where liquidity is needed, so they tend do just herd into whatever is "simple" which often is ponzi schemes and frauds.

[Anonymous No.49649673]

>>49648694
this. based cost cutter. celsius should do gas coupons

[Anonymous No.49651195]

>>49648508
how could u not understand this earlier i honestly can't comprehend that people are as stupid as you. never again do anything even close to ' investing'. you are simply too low iq and it can't be fixed

[Anonymous No.49651516]

>>49648357

[citation needed]

I always assumed CeFi platforms like Celsius made money off the fact that they stake AVAX and earn 9% APY on it, then turn around and give the user 5% APY. It's the same for nearly every other coin they offer rewards off. Seems pretty sustainable to me, do you have any facts to back up your claim that it isn't? It's a way to earn rewards without having to deal with a bunch of wallets and staking on a dozen different platforms. You can get better rewards staking yourself, though (but this also sometimes requires a minimum number of coins be staked as well, which is another benefit of the rewards on CeFi platforms if you don't necessarily want to go out and buy $20k of a coin to be able to earn APY on it).

The problem for Celsius seems to be twofold. 1) Crypto Twitter has been funding the shit out of it lately and people are pulling out for that, plus the markets being down too and 2) A lot of user funds are ties up in ETH2 which are not redeemable until the merge. Seems like they're running into liquidity issues because of this.

[Anonymous No.49651606]

>>49648165
your btc is about to be 'restructured'

[Anonymous No.49651644]

>>49648165
Didn't they turn withdrawals back on

[Anonymous No.49651696]

>>49651644

Doesn't appear so. The wording in the announcement didn't make it sound like this would be a quick fix.

[Anonymous No.49651739]

>>49651606
>Option 1: Financing
>Option 2: Take our members money
let's prioritize option 2

[Anonymous No.49652968]

>>49648878
>You can get 40% APY on stablecoin LPs right now,

Newfag, what is this? Is that like on Uniswap? seems too good to be true which is why I went with the 8% stablecoin apy on celsius till they yoinked our shit.

[Anonymous No.49653071]

>>49651606
Sounds like they hired Dewey, Cheetum, and Howe

[Anonymous No.49653249]

>>49651606
>your btc is about to be 'restructured'
AKA theyre fucking bankrupt. say goodbye to your life savings Celsius bros, youre not getting it back

[Anonymous No.49653447]

>>49652968

Its like uniswap, yes. But the way yields work, the more liquidity the less your yield. You have to go where liquidity is needed. You'll get better yields on alt L1s were liquidity is needed, and in smaller pools which aren't the biggest pools, ideally which have incentives. For example avalanche has an assload of trading volume recently due to volatility, so APRs have been ridiculously high. And tombswap on fantom is currently incentivized so has been paying 30-40% on stablecoins.

Sometimes this requires holding defi stables DAI or MIM, which if you don't trust you can use a money market to deposit USDC or w/e and borrow DAI/MIM and then go yield farm with that to get higher APRs than you could on just USDC.

But none of this lasts forever you have to keep moving coins around to find the best yield. There is no simple solution you can just set and forget because as more people pile in the yield drops.

[Anonymous No.49653943]

>>49653447
>Low liquidity
>High apy
Something doesn't make sense here. Either borrowers are paying the interest or fees must be retarded. Anything else is hyperinflationary shitcoinery or a pyramid scheme. As you mentioned avax I guess the first

[Anonymous No.49653981]

*had

[Anonymous No.49654035]

have you niggers watched none of the videos UpperEchelonGamers has made on this? He's been exposing their shit for like six weeks now.

[Anonymous No.49654057]

>>49653943

Its about volume / liquidity. The less total liquidity, the bigger piece of the pie you get as a liquidity provider from fees. Its the same with trading, you want to buy low, you want to provide liquidity when its low.

[Anonymous No.49654134]

>>49648165
I know why you have 1.1 bitcoin.

Because you could barely afford 1 bitcoin but bought into the hype about how 1 bitcoin would be $1 lolmillion dollars. But then you don't want to break up your one bitcoin until you really need to it'd be a shame to break a piece off and you could no longer brag about being part of the 1 bitcoin club, so you figured you'd put another tenth of a bitcoin on it to give you over $100k to work with while still bragging about your 1 bitcoin and how you had made it.

Because a youtuber told you that it would be worth $1 million some day hahahaha.

[Anonymous No.49654183]

>>49651516
And how do you make from AVAX? Where do money come from?

[Anonymous No.49654400]

>>49651516

Its sustainable only if you keep the same withdraw restrictions as staking. The problem is ETH staking locks up your eth. Kraken for example, doesn't let you withdrawal staked ETH. Binance doesn't either, just gives you BETH.

From what I understand Celsuis allowed users to withdraw their staked eth 1:1. Which is impossible to do. On the backend they were buying steth which due to its rebasing mechanism usually traded about 1:1 for eth, but due to people wanting to sell their eth positions started to drop below 1 eth. This is 100% expected and normal behavior, but celsius were huge retards to think it couldn't happen or figured/hoped their users wouldn't withdraw so much before eth 2.0.

[Anonymous No.49654493]

>>49648878
>You can get 40% APY on stablecoin LPs right now
they're either losing money or their platform works as a ponzi scheme

[Anonymous No.49654559]

>>49648165
NOT YOUR KEYS
>NOT YOUR CRYPTO
NOT YOUR KEYS
>NOT YOUR CRYPTO
NOT YOUR KEYS
>NOT YOUR CRYPTO