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Blotto_Otter posted:https://twitter.com/kadhim/status/1547912835409145860 i totally called it, they gave their eth to someone else who then lost it
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Jul 15, 2022 15:50
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v funny to see a firm literally named EquitiesFirst losing everything on crypto edit: Equities First? No, crypto!
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Jul 15, 2022 15:53
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upgrading from slurp juice to lien
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Jul 15, 2022 16:08
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Cantorsdust posted:v funny to see a firm literally named EquitiesFirst losing everything on crypto Equities? First no, crypto!
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Jul 15, 2022 16:10
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Asymmetric POSTer posted:Equities? First no, crypto! y'know I thought i'd be getting tired of this joke by now, but i'm not
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Jul 15, 2022 16:32
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napkin math says that if you zero out CEL value/CEL liabilities (CEL is worthless except to eliminate those), zero out custody assets/liabilities, and apply a really generous haircut the mining business is worth 25% of what they claim (and i'd bet its worth less), celsius has a $2.1 billion shortfall, or over 40% of its total liabilities. the plan they proposed in the CEO's first day declaration is to just sit in bankruptcy running the miners until they fill in that hole the miners generate, apparently, 10,000 bitcoins per year, meaning at current prices of $20k, you only need to stay in bankruptcy for 10.5 years. then one more year because part of your asset value is, uh, those machines. 10.5 years of lawyers' time is free, right. also, the electricity to run the machines is free right, and definitely didn't cost you nearly all the value of the bitcoins you mined, right
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Jul 15, 2022 16:33
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also crypto prices will definitely stabilize and resume rising during that time
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Jul 15, 2022 16:35
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evilweasel posted:the miners generate, apparently, 10,000 bitcoins per year, meaning at current prices of $20k, you only need to stay in bankruptcy for 10.5 years. then one more year because part of your asset value is, uh, those machines. don’t forget that bitcoin mining rewards get halved roughly every four years! if I’m doing my napkin math right, assuming a constant hash rate, they’ll only generate about 50k coins over the next decade if halvings occur as expected in 2024 and 2028
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Jul 15, 2022 16:43
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gschmidl posted:worth***** WORTH LESS TRANCHE
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Jul 15, 2022 16:43
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your honour we're good for this, you see bitcoin is going up Up UP
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Jul 15, 2022 16:46
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DEAR CUSTOMER, we have received your withdrawl request, and we would like to offer you this exciting opportunity to not withdrawl your money https://twitter.com/otteroooo/status/1547955567083155464 (I should caveat that we don’t know if this is legit and undoctored… but also I feel pretty good about the chances of another obvious crypto Ponzi scheme going insolvent)
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Jul 15, 2022 16:49
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"nexo insolvency" sounds like it should be a technical term, along similar lines to "chapter 11 bankruptcy" or "chevron deference"
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Jul 15, 2022 16:59
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"me and the boys have encountered some light nexo insolvency, but we're confident (with your paused withdrawal opportunity) that we can get through this together"
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Jul 15, 2022 17:01
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the nexo subreddit specifically has a post saying they're definitely not bankrupt from 3ACquote:Nexo has $0 exposure to Three Arrows Capital. There's a PDF of a report on their assets exceed their liabilities (listed as 177,000 BTC) quote:Nexo assets consisting of �at (USD, GBP, and EUR), digital assets (self-custodied, third-party custodied, derivatives, and lending positions), and an outstanding customer loan book (collectively, “Nexo Assets”) were greater than or equal to customer deposits (“Customer Liabilities”) don't worry, they totally have the money, they just need to go out real quick to get it
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Jul 15, 2022 17:09
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evilweasel posted:napkin math says that if you zero out CEL value/CEL liabilities (CEL is worthless except to eliminate those), zero out custody assets/liabilities, and apply a really generous haircut the mining business is worth 25% of what they claim (and i'd bet its worth less), celsius has a $2.1 billion shortfall, or over 40% of its total liabilities. pennies from buttcoin don't you know miners contain pennies from buttcoin you'll find your fortune falling in every town because your portfolio is upside down make coins out of a bunch of wastage of power if you want the things you hodl you must have tethers so when the prices tumble don't fumble bankruptcy there'll be pennies from buttcoin for you and me
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Jul 15, 2022 17:21
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Grace Baiting posted:"nexo insolvency" sounds like it should be a technical term, along similar lines to "chapter 11 bankruptcy" or "chevron deference" It's a Yu-Gi-Oh card.
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Jul 15, 2022 17:30
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Stephen Harper posted:the nexo subreddit specifically has a post saying they're definitely not bankrupt from 3AC they totally have the money, it’s just “away from them” as folks in the biz say
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Jul 15, 2022 19:19
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“from 3AC” doing a lot of work there
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Jul 15, 2022 19:53
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they should just do what they did when that giant rai stone sunk in the water, we don't have your money on our person, but we know roughly where it is, so that should be good enough for everyone
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Jul 15, 2022 20:31
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SubG posted:every time the court arraigns i'm imagining this is the rose murphy version but instead of her saying chee chee it's fart sounds from https://buttcoin.club/
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Jul 15, 2022 20:39
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lmao, check this poo poo out. the guy doing this used to be a friend until he went full blown chud when Trump won 
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Jul 15, 2022 20:48
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can't tell if psychical is a mistake or not
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Jul 15, 2022 20:50
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Boxturret posted:can't tell if psychical is a mistake or not he's the physical embodiment of the term "beautiful idiot", that 100% was supposed to be "physical"
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Jul 15, 2022 20:53
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SubG posted:every time the court arraigns oh hey i just saw the mountain goats live the other day good excuse to post this again: https://johndarnielle.tumblr.com/post/126993307991/quoms-the-best-ever-bitcoin-cannabis-drone
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Jul 15, 2022 20:57
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Jabor posted:can someone describe that thing to me? there are multiple parties involved here 1. ethereum dev team creates the "beacon chain" which is like an alpha version of the proof-of-stake ethereum that will never release 2. ethereum dev team lets you stake ether on it right now , but it will never unstake until PoS is out. you get some kind of staking income based on how much you stake but mostly this is for idiot morons 3. lido finance comes up with a cool idea: they stake their own ether, and then they make up a new token called "stEth" to represent 1 future-ether-when-pos-releases to sell on the market. the idea is that if you own one of these tokens you can redeem it for one of the ethers lido originally staked, once lido gets their money back. (they keep the interest / staking income of course) 4. idiot buttcoiners value + buy stEth at exactly 1 eth, so lido sells lots of tokens and gets to instantly recoup their initial investment while also collect staking income "for free" 5. idiot buttcoiners slowly become slightly less idiotic and realize "wait proof of stake is never coming", and as a result stEth "depegs" and starts selling for less than 1 eth to represent the risk 6. celsius says "wow free money, i can buy 1 future eth for only 0.9 eth today!!", buys shitloads of stEth 7. now celsius is the biggest holder of stEth, holding lots of worthless pogs that are theoretically worth 0.9 eth each, but there are no other buyers left in the market so they can't actually sell without cratering the price. and they can't redeem them for the actual backing eth until PoS releases (never).
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Jul 15, 2022 20:59
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i hope this doesn't impact the launch of pos in 6 months 
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Jul 15, 2022 21:09
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RPATDO_LAMD posted:there are multiple parties involved here It can't be that stupid - you must be explaining it wrong.
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Jul 15, 2022 21:48
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Hammerite posted:It can't be that stupid - you must be explaining it wrong. now there's a thread title
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Jul 15, 2022 21:50
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Boxturret posted:i hope this doesn't impact the launch of pos in 6 months it was still on track for release 6 months ago
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Jul 15, 2022 21:52
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Just-In-Timeberlake posted:now there's a thread title never seen  before i take it
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Jul 15, 2022 22:11
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Boxturret posted:i hope this doesn't impact the launch of pos in 6 months don't worry, whatever happens in the future, it will always be the case that pos is launching in 6 months
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Jul 15, 2022 22:23
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Crust First posted:never seen my "it can't be that stupid, you must be explaining it wrong" thread title is raising a lot of objections already mentioned by my thread title
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Jul 15, 2022 22:27
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Qwertycoatl posted:don't worry, whatever happens in the future, it will always be the case that pos is launching in 6 months "that pos" is right
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Jul 15, 2022 22:29
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Crust First posted:never seen and yet still somehow not as stupid as tether, which is kind of amazing when you think about it
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Jul 15, 2022 22:43
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Hammerite posted:It can't be that stupid - you must be explaining it wrong. Why not lock away all of your clients funny money in this program where its about page, posted in 2020, says  Any week now!
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Jul 15, 2022 23:12
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RPATDO_LAMD posted:there are multiple parties involved here they call this the "lido shuffle"
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Jul 16, 2022 00:45
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Plank Walker posted:they call this the "lido shuffle" :incorrect:
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Jul 16, 2022 02:21
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https://twitter.com/web3isgreat/status/1546627001250873351
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Jul 16, 2022 02:30
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more like roger vámonos
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Jul 16, 2022 02:42
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| # ? Jun 5, 2024 05:06 |
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so we're at the part of the tv show where none of the new characters have any staying power so they're bringing back the old favourites
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Jul 16, 2022 02:57
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