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The Celsius CEO just got arrested in a plane about to leave for Israel, too.
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Jun 27, 2022 21:47
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Vox Nihili posted:Haven't verified this elsewhere but posting anyway because funny. I have Questions(tm) If Celsius' management is forbidden from making public announcements due to legal advice, who exactly is stating "Celsius believes..." and suggesting that engaging "HODL Mode" will do jack or poo poo? Who are "the people?" Is this literally just astroturf by The Block to attempt to keep their own assets solvent as they beat feet to the exit? Yes.
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Jun 27, 2022 21:55
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Someone read the fine print on HODL mode. Without looking into it at all I'm putting at lest 2:1 odds that it says something like "by agreeing to HODL mode you will be placed last in line with other creditors in the event of bankrupcy"
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Jun 27, 2022 21:58
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Lol I was bored enough to click aorund in their FAQ. Didn't find that but did find this:quote:DOES CELSIUS HAVE AN INSURANCE POLICY? 
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Jun 27, 2022 22:00
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Cyrano4747 posted:Someone read the fine print on HODL mode. Without looking into it at all I'm putting at lest 2:1 odds that it says something like "by agreeing to HODL mode you will be placed last in line with other creditors in the event of bankrupcy" "Congratulations. You have engaged HODL mode and are now a valued hodler of x unsecured bonds."
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Jun 27, 2022 22:02
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Love to give 150% collateral in the form of cryptocurrency that suddenly loses half its value Also a lot of people seem to have been throwing money at defi stuff without asking questions like "why would someone post 150% collateral to borrow money at a high interest rate rather than just sell the supposedly liquid collateral asset?" Qwertycoatl fucked around with this message at 22:10 on Jun 27, 2022 |
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Jun 27, 2022 22:04
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Qwertycoatl posted:Love to give 150% collateral in the form of cryptocurrency that suddenly loses half its value yeah but did you hear that they PROMISE 40 percent returns? You can't argue with those made up scam number! e, oh your account is now locked from withdrawals due to you not being a whale, so like I guess get out.
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Jun 27, 2022 22:15
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Cyrano4747 posted:Lol I was bored enough to click aorund in their FAQ. Didn't find that but did find this: Whoever said crypto is just speedrunning the 1920's financial crash was very on the nose.
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Jun 27, 2022 22:16
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Warmachine posted:I have Questions(tm) it is very obviously sourced by celsius management having directly called up that website and i very much need to find someone from akin and force them to tell me what their faces looked like when they got this presentation from management about "well we might be bankrupt but our customers would prefer we weren't"
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Jun 27, 2022 22:20
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Cyrano4747 posted:Someone read the fine print on HODL mode. Without looking into it at all I'm putting at lest 2:1 odds that it says something like "by agreeing to HODL mode you will be placed last in line with other creditors in the event of bankrupcy" oh that's not in the fine print on HODL mode, that's in the fine print on the earn service quote:D. Earn Rewards the bolding is in the original and says "you are an unsecured creditor"
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Jun 27, 2022 22:23
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evilweasel posted:it is very obviously sourced by celsius management having directly called up that website I want to see the bottle of liquor the counsel handling their case keeps in the drawer before and after they find out management completely disregarded their advice about talking to the press in a super transparent way. You know, assuming you're not being facetious here--it's 5PM and I've got work burnout.
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Jun 27, 2022 22:41
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Warmachine posted:I want to see the bottle of liquor the counsel handling their case keeps in the drawer before and after they find out management completely disregarded their advice about talking to the press in a super transparent way. You know, assuming you're not being facetious here--it's 5PM and I've got work burnout. oh I'm serious, I think that's so obviously sourced to management that when management gets sued the creditors can argue to get that advice since management waived attorney client privilege
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Jun 27, 2022 22:59
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Bets Were Made: Celsius does not have an insurance policy
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Jun 27, 2022 23:39
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Celsius ownership: Sure we're insolvent today, but if we drag our feet on bankruptcy long enough crypto might rebound and bail us out. HODL!
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Jun 28, 2022 00:32
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That’s a loot box
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Jun 28, 2022 00:37
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Those archaeologists either never played Zelda or have the world’s best self restraint
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Jun 28, 2022 00:43
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https://www.youtube.com/watch?v=IRl3r4q_dUY
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Jun 28, 2022 00:56
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FrozenVent posted:The Celsius CEO just got arrested in a plane about to leave for Israel, too. Ahahaha he should have got out a week ago. Even Lyle Langley got out of town before everything went belly up.
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Jun 28, 2022 03:32
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https://twitter.com/slashdot/status/1541625107101011968 This could've been so much more entertaining.
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Jun 28, 2022 04:41
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CharlestheHammer posted:That’s not crazy, early Islamic states just used Roman currency for a while after the Islamic conquest. It slowly transformed into a more Islamic flavor over time but man that must have been awkward *squints in Pieces of Eight*
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Jun 28, 2022 05:09
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there were literal centuries where they just had librii solidii and denarii as units of account and all the coins were gone
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Jun 28, 2022 05:13
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bob dobbs is dead posted:there were literal centuries where they just had librii solidii and denarii as units of account and all the coins were gone If only they'd known about slurp juice back then
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Jun 28, 2022 05:25
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Vox Nihili posted:Celsius ownership: Sure we're insolvent today, but if we drag our feet on bankruptcy long enough crypto might rebound and bail us out. HODL! They noticed that FTX/SBF is bailing out or buying up all the struggling crypto companies, so if they can just get a few more days so their email doesn't get shut off, maybe they'll get an offer coming in and they can offload their whole bag of poo poo to someone who'll buy anything and may soon be the only (now worthless) crypto game in town
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Jun 28, 2022 11:42
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FrozenVent posted:The Celsius CEO just got arrested in a plane about to leave for Israel, too. Bad With Mossad
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Jun 28, 2022 13:01
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ultrafilter posted:https://twitter.com/slashdot/status/1541625107101011968 Don’t sleep on reading the actual report. It’s full of internal Robinhood comms as they try desperately to prevent total disaster. quote:Despite years of operating their own clearing operation, during this period Robinhood employees remained unaware of how the NSCC calculated its collateral charges and the implications for the company’s operations. “Apparently we don’t have enough money to pay NSCC fees. Who knew about NSCC fees?” “NCSS fees…” “They charge ‘risk fees’” “Interesting”
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Jun 28, 2022 13:22
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doingitwrong posted:Don’t sleep on reading the actual report. It’s full of internal Robinhood comms as they try desperately to prevent total disaster. quote:On the morning of January 28, 2021, Jim Swartwout texted Gretchen Howard at 6:29 a.m. EST, writing 'Huge liquidity issue.'"
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Jun 28, 2022 13:37
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One of the larger alt coins providers is threatening to take all their money and flee the country if the SEC decides they were scamming people. And all of the bag holders are cheering them on to take the money and run. Because they know that he will definitely be transparent and give it all back, but only when he isn't forced to. quote:Ripple CEO Brad Garlinghouse Says Company Will Leave US if SEC Wins Lawsuit: Report quote:On the one hand I’d like to work for ripple. On the other it feels sort of as risky as holding xrp right now quote:I would be leaving the US too. It’s almost a third world country at this point quote:
quote:Good. More companies should leave the US because there's too much regulatory risk here for a global crypto industry. Stifling innovation and suppressing new technologies is a part of the stranglehold that the Wall St. has on government. They don't want new competitors. quote:
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quote:I trust Brad with my money more than I trust the SEC's idea of "what's best for me" a hundred times over. I hope Brad flees their jurisdiction and keeps our XRP safe. quote:
Oh no, what if SEC starts preventing me from being scammed? Think of the horrible precedent this would set. Imagine a world where I can't get in on the scam early (because I will definitely know when to pull out of the scam) or even worse... one where scams don't exist at all. *shudder* quote:
quote:Moons would probably be shut down at that point quote:
Don't worry. Just because their entire project is based on a made up problem that they invented, that doesn't mean they won't accidentally change the world. Inventing an electric car was a made up problem until we realized it wasn't. It turns out that banks actually don't like maximizing their profits and are purposefully losing money to protect the "that's the way it has always been mindset." XRP wants to make profits at any cost and that is why they have solved this problem and will then decide to not maximize their profits and pass it on to the consumer! Therefore, fiat currency will be gone in 10 years and XRP will be the new global currency. Better get in now! quote:
Maybe you're just jealous that I have no way of getting any of my investment back if I get scammed? That is actually a very good thing because FUDsters won't demand refunds that kill the project since all the money is under one guy's control and he can invest 100% in research without having to worry about those things that kill project; like insuring deposits or not stealing all the money. quote:You're wasting your logic and breath on people who chose not to listen xD The CEO of Ripple wouldn't scam us, because he is a person. Only corporations (who are not run by people and are sentient legal entities) scam people by leaving the country when they have to prove they aren't scamming people. Also, forcing CEOs to disclose whether they put all of the company's money into their personal offshore bank account is exactly the same as forcing a woman who is raped to give birth to her rapist's baby. quote:
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Jun 28, 2022 14:36
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That might legit be the most insane thing posted here
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Jun 28, 2022 17:40
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A good crosspost for those that don’t browse AI:Humbug Scoolbus posted:https://www.roadandtrack.com/news/a40432044/tesla-plaid-youtuber-boils-brakes-and-crashes-at-170-mph/
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Jun 28, 2022 17:53
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Cacafuego posted:A good crosspost for those that don’t browse AI: Wrong thread. You are mistaking this entertainment video, which is being produced to drive ad revenue, with a documentary.
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Jun 28, 2022 18:03
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for that ripple thing, that guy can't just like take a suitcase of cash through security at Orlando Airport, he'd have to put it in a bank to wire it internationally, and certainly the gubberment would keep an eye on that, and it's not like you can you drop off $250000 at a chase, and do a wire transfer to bolivia and the bank/feds not get their fingers on it?
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Jun 28, 2022 18:12
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I hope those Ripple nerds lose all their money
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Jun 28, 2022 18:14
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Jerk McJerkface posted:for that ripple thing, that guy can't just like take a suitcase of cash through security at Orlando Airport, he'd have to put it in a bank to wire it internationally, and certainly the gubberment would keep an eye on that, and it's not like you can you drop off $250000 at a chase, and do a wire transfer to bolivia and the bank/feds not get their fingers on it? Cash -> Diamonds -> Balloon -> Anus -> Airplane.
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Jun 28, 2022 18:33
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The ripple CEO is fighting to prevent XRP from being deemed a security by the SEC. The SEC charged him with $1.3 billion in securities fraud and operating as an unlicensed securities broker. If everyone just bought the tokens and the tokens go to zero, then they are out of luck. If they bought securities from an unregistered securities broker, then they can go to jail and the "investors" can try to get their money back. The CEO also paid people in XRP for labor to evade reporting requirements and not have to actually pay people in real money. He also secretly cashed out $600 million in investor money into a private bank account, but only some of it was payment to himself! The rest was totally going to an investment in the technology that he can't talk about right now for fear of giving competitors inside knowledge. quote:Ripple also allegedly distributed billions of XRP in exchange for non-cash consideration, such as labor and market-making services. According to the complaint, in addition to structuring and promoting the XRP sales used to finance the company's business, Larsen and Garlinghouse also effected personal unregistered sales of XRP totaling approximately $600 million.
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Jun 28, 2022 18:43
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CharlestheHammer posted:That might legit be the most insane thing posted here Agreed it is messed up, but there are some heavyweights for top all time BWM posts. Off the top of my head: -finding a message board where people were investing in a company I think that was being considered to make iPhone screens, then they didn't get the contract and the shares became worthless, and how the thread melted down and people were driving past the company factory trying to look for clues -Toronto restaurant -horse chiropractics -funko contract -guy who was appealing his security clearance denial, and in addition to his financial woes the court looked at how when he was upset with his wife he had spent extensive time digging "practice graves"
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Jun 28, 2022 18:44
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About 75% of the XRP people across different forums and websites I've been checking have been cheering on the CEO and begging him to steal their money because if he steals it, then there is a theoretical chance they can exit the scam by scamming someone else, but if he gets shut down by the SEC, then they are only getting their money back at best and realistically are probably only getting a small portion back.quote:gently caress THE CORRUPT SEC quote:They ain't leaving. They're just saying the US ain't poo poo. I loving love it. quote:Brad wouldn't really leave. That would make it impossible to trade XRP in the U.S. and screw over his investors. He's just exposing the corruption of the SEC and telling them they can't touch him. quote:Ripple’s opening up a office in Miami as we speak. They ain’t going nowhere. #HODL quote:Man GTFO is very important. Looks like cayman islands or switzerland is more crypto friendly with picturesque views. Also feck Gary Ginslers and everyone in the SEC excluding hester pearce. quote:To all the FUD fools saying he will just take the money and run if he wins the case... you are a fool. XRP has been around forever and will revolutionize smart payments. Nobody would spend years on a scam. The money he took was for investments and payment for his own equity. You can't steal from your own company. Does anybody say that Jeff Bezos is stealing when he sells Amazon shares? Get a loving grip. Brad would not do that. quote:FUD is out in force at the news today. Think about it for just one second and see how foolish the logic is. Why would Brad sacrifice years of work, the trust of millions of supporters, and his professional reputation for $1.3 billion when he has a multi trillion idea on his hands? Does that make sense at all? quote:Fantastic decision. If the US wants to persecute companies trying to forge a digital future, then they can lose out and be left behind. It will be a huge loss to the US. China must truly be sitting back laughing behind closed doors. quote:I'd feel safer with my money in the Caymans with Brad than in the pockets of the SEC bureaucrats. Even if they seize it all "for our own good" how much will be left when Uncle Sam takes his dues? Remember that the scariest words in the english language are "I'm from the government and I'm here to help." quote:I think you have to define what does it mean to "lose". It is not if they have to pay a fine but xrp is not a security. I think what he means by "losing" is if the ruling would be such that it cripples Ripples ability to carry out business as usual. (pun intended) And I would assume that is very limited to something like xrp is still a security and that every transaction of XRP must be recorded in some special way. Since the business model requires so much liquity to do ten of thousands of transactions a day that would probably be too restrictive. In that case what choice would Ripple have? They would have to move. quote:Just rhetoric, XRP is here to stay with significant adoption this decade Guys, he would never steal $1.3 billion (even though he definitely didn't already steal $600 million) because he would have to abandon his lease! Open your eyes sheeple! quote:Didn’t they just re-up their lease in SF? They ain’t leaving poo poo because they wouldn’t do that unless it was highly probable they’d win. quote:
quote:I've been telling everyone the same thing. They usually prattle on about the economy and the dollar, but if the U.S. sabotages the next global currency, then what do you think happens to their economy and currency? Hell, look at the value of their currency right now! If everyone is on XRP except the U.S., then they are the poorest country in the world over night. quote:
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Jun 28, 2022 19:09
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Phanatic posted:Cash -> Diamonds -> Balloon -> Anus -> Airplane. Eat some bad airplane snacks and accidentally poo poo your butt diamonds down the airplane loo.
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Jun 28, 2022 19:30
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Leon Trotsky 2012 posted:About 75% of the XRP people across different forums and websites I've been checking have been cheering on the CEO and begging him to steal their money because if he steals it, then there is a theoretical chance they can exit the scam by scamming someone else, but if he gets shut down by the SEC, then they are only getting their money back at best and realistically are probably only getting a small portion back. It's like a firefighter is carrying someone out of a burning building, and the entire time the person being carried is desperately trying to kick the firefighter in the nuts.
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Jun 28, 2022 19:32
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I love how many think the SEC is corrupt, except they think it's corrupt for the wrong reasons.
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Jun 28, 2022 19:36
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Leon Trotsky 2012 posted:Nobody would spend years on a scam.
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Jun 28, 2022 19:37
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