Unbank Yourself.

[Liverpool Lou]

21 hours ago, Neeranam said:

Interesting piece on how Celcius can pay high rates on your assets.

 

https://celsiusnetwork.medium.com/what-we-do-how-we-do-it-9a82124f7159

Written by Celcius!

[Liverpool Lou]

17 minutes ago, GrandPapillon said:

it's a speculative investment based on the "cloud", what do you think you are going to get at the end?

 

the high interest rates is there to attract the suckers that will lose all their capital ????

 

at the end they will be lucky if they get 1 out of their 100 they pay for that silly thing ????

I know all that.   It's the OP who doesn't!   

 

My comments are not in support of it.

[fdsa]

23 minutes ago, GrandPapillon said:

bla bla bla

 

i'm lold @ greed, envy and anger of people who have missed the boat

Edited May 13, 2021 by fdsa

[thasoss]

good luck,remember it's a gamble,like the old chain letters,the early ones make money,last in ususually loses.I realise my comparison is not very good but you get what i mean.The higher the return the greater the risk.

[Neeranam]

On 5/12/2021 at 11:04 AM, mjnaus said:

Dude, this is not the place to discuss the next generation's financial system. The majority of the users of this forum fall into a category of people that are set in their ways, incapable or reluctant to at least keep an open mind do some research before declaring stuff they're clueless about to be a scam. The fact that decentralized finance is real and currently securing close to $80 billion is beyond comprehension for most of these folks.

How true! 

[GrandPapillon]

LOL you need to be in the top 1% to make it on the stock market these days ????

 

on Bitcoins and alt-coins, you don't have to be smart all and the bottom 90% can benefit it all from that bubble by just buying and hold ????

 

and unlike the millenials bragging about their winnings, I do real work and real investing with real assets and real sustainable returns ????

 

so thank you very much for worrying about me ????

[GrandPapillon]

36 minutes ago, fdsa said:

 

i'm lold @ greed, envy and anger of people who have missed the boat

don't worry, plenty of greed in what I do and where I work, and still make banks without burning all the trees on the planet ????

[Neeranam]

1 hour ago, GrandPapillon said:

ohoh, Telsa no longer accepting Bitcoins on environment concern

TESLA bought $1.5 Billion of Bitcoin a 2/3 months ago and must be in Profit of around $1.5 Billion. Not bad for a couple of months. Wise guy that Musk. 

[Neeranam]

2 hours ago, Poet said:

There is no point discussing crypto on this forum. Most of the active members are UK retirees whose pensions, today in Thailand, buy them a far lower quality-of-life than they expected. They need to believe that crypto is a scam because accepting reality would force them to recognize all the other opportunities they've blown over the years. Their bitterness against online workers stems from the same root.

The few smart members here are already using crytpo to hedge against the coming inflation tsunami. They did not need to get the information about it here, on a dying forum for expats.

 

I have found an answer, the ignore button. Means I can see good, open-minded responses only. 

Indeed, nothing like the forum of 15 years ago. One could say the same about Thailand. 

[GrandPapillon]

7 minutes ago, Neeranam said:

TESLA bought $1.5 Billion of Bitcoin a 2/3 months ago and must be in Profit of around $1.5 Billion. Not bad for a couple of months. Wise guy that Musk. 

actually not all good, because the firm turned a profit this quarter, not because of better operations or sales, but because of the Bitcoins craze

 

so investors are asking questions about the true profitability of TELSA, and worse, there is now an SEC obligation of public listed companies to follow some ESG guidelines and disclose the impact of their financial operations on the environment.

 

With bitcoins having such a significant impact on its bottom line, TELSA have to "calculate" some kind of environment impact, which is basically impossible for bitcoins, only very rough estimates. And they could be fined by the regulators for not providing accurate information about that impact in their SEC disclosure document.

 

Hence, that responsible tweet from Elton ????

Edited May 13, 2021 by GrandPapillon

[GrandPapillon]

2 minutes ago, Neeranam said:

I have found an answer, the ignore button. Means I can see good, open-minded responses only. 

Indeed, nothing like the forum of 15 years ago. One could say the same about Thailand. 

Echo chamber? so much for being open-minded ????

[xylophone]

1 hour ago, GrandPapillon said:

and unlike the millenials bragging about their winnings, I do real work and real investing with real assets and real sustainable returns

I think it was Warren Buffett who once said that he wouldn't invest in anything that he didn't understand, hence he hasn't invested in Bitcoin and the like, neither has Bill Gates for that matter, and these two guys are billionaires, made by investing in companies which produce something, and Buffett was quoted as saying that bitcoin hasn't produced anything?

 

Like you, I did real work and real investing with real assets, and started and built up an investment advisory division which, before I retired, was running at just under $2 billion.

 

At my age I need some conservative investments, and as I am a financial planner (or was) I went into bonds, but we all know what happened with those.

 

A few years ago I invested (shares) in a couple of good NZ companies and have doubled my money on one of them, whilst getting a 5% dividend along the way, but the other one has just fallen off a little, however I've made up for it with another 5% dividend.

 

I'm currently looking at peer-to-peer lending, whereby my money is secured against a tangible asset, being land or a building, and that is giving me about 6.5% per annum return.

 

I'm quite comfortable with where I'm at at the moment and don't feel the need to go into something like crypto currencies, mainly because I'm old enough to need stable investments, but mainly because I'm old school and follow Buffett's example of not investing in anything I don't understand – – and from what I've seen I'm not going to even bother to try and understand it.

 

Perhaps I should have another look at, "The Big Short" as there are lessons to be learned from people wanting to chase great returns from investing in CDOs when they didn't understand them at all, neither did most of Wall Street either! Hence the crash.

[covidiot]

2 hours ago, Neeranam said:

TESLA bought $1.5 Billion of Bitcoin

Or so it was "reported" in the "news".

Maybe he's being used as a poster boy to prop up interest. 

[fdsa]

2 hours ago, josthomz said:

Being in that 10% is more about creating one such platform

exactly. or creating that one new cryptocurrency ????

[fdsa]

On 5/12/2021 at 11:04 AM, mjnaus said:

"stablecoins" are stable crypto assets (stable in the sense that most are pegged to major fiat currencies like the USD)

they are pegged to words only.

 

On 5/12/2021 at 11:04 AM, mjnaus said:

please do yourself a favor and dig a little deeper.

yep, please do yourself a favor and dig a little deeper, e.g. try to find any confirmation of existance of thousands of billions of trillions real US dollars that are claimed as being used as a collateral for all those billions of USDT BUSD HUSD WṪFUSD printed.

Edited May 13, 2021 by fdsa

[talahtnut]

This infatuation with profit and greed has killed philanthropy,

and made life boring.

[BenDeCosta]

On 5/12/2021 at 1:31 PM, Neeranam said:

With BTC near $60,000, the only people who could have lost anything are those that bought a onth or sao ago at $62k and sold at $56k. Such people would be foolish to do that and I doubt any exist. Anyway, they would have only lost 10%. 

 

Well it's below 50k now, so quite possible that many people are looking at losses on paper.

Edited May 13, 2021 by BenDeCosta

[covidiot]

32 minutes ago, talahtnut said:

This infatuation with profit and greed has killed philanthropy,

and made life boring.

I have come across many sources that would suggest that capitalism as we know it may possibly be dying. 

 

Which a lot of people who are money-obsessed won't like. But if it happens, it will free up people to do more work that is based on being of service to others rather than just accumulating wealth. 

 

 

[Neeranam]

13 minutes ago, BenDeCosta said:

 

Well it's below 50k now, so quite possible that many people are looking at losses on paper.

Stick to gold buddy, you don't understand Bitcoin, 20% drops in a day are normal. 

[BenDeCosta]

2 minutes ago, covidiot said:

I have come across many sources that would suggest that capitalism as we know it may possibly be dying. 

 

Which a lot of people who are money-obsessed won't like. But if it happens, it will free up people to do more work that is based on being of service to others rather than just accumulating wealth. 

 

 

 

I agree, the world seems to be shifting away from capitalism. In the US, the government is handing out unemployment benefits that match or in some cases exceed what people would be earning, therefore making them dependent on the state. But what are the alternatives? Communism or socialism, history has shown us that these ideals simply don't work and end up causing oppression, poverty and desperation.

[BenDeCosta]

5 minutes ago, Neeranam said:

Stick to gold buddy, you don't understand Bitcoin, 20% drops in a day are normal. 

 

Tesla have stopped accepting Bitcoin on the basis that the amount of electricity used to mine it, often coming from coal-fired power stations, is causing environmental damage. Once everyone stops accepting it, it will become worthless pretty quickly.

[Neeranam]

1 minute ago, BenDeCosta said:

 

Tesla have stopped accepting Bitcoin on the basis that the amount of electricity used to mine it, often coming from coal-fired power stations, is causing environmental damage. Once everyone stops accepting it, it will become worthless pretty quickly.

Listen to a rocket scientist -  

 

[mjnaus]

1 hour ago, fdsa said:

yep, please do yourself a favor and dig a little deeper, e.g. try to find any confirmation of existance of thousands of billions of trillions real US dollars that are claimed as being used as a collateral for all those billions of USDT BUSD HUSD WṪFUSD printed.

 

A quick look at the USDC's website reveals: "Every month, the US dollar reserves for USDC are attested to by top 5 accounting services firm, Grant Thornton LLP. We publish those reports so that you can be confident that USDC is always 100% redeemable for dollars.". These reports are all available on their site, going back to when Circle first started minting USDC back in October 2018. Didn't need to dig too deep for that one, now did I? USDC is managed by a partnership between Circle and Coinbase (the latter now being a publicly traded company).

 

Tether (USDT) does indeed have a slightly shadier background (hence me suggesting to do at least a little bit of research before claiming to know it all) and Tether has, until recently, never fully disclosed their collateral. That is, until today: https://www.theblockcrypto.com/post/104780/tether-usdt-reserves-breakdown-first-time-since-launch. 

 

 

DAI, one of the first crypto collateralized stablecoins, secured on-chain, has a collaterization ratio of 150%. This being secured in publicly accessible smart contracts, this data is easily verified. 

 

See, it's always easy to lump everything together and call everything "crypto" a scam. If that mindset works for you, then by all means.  I personally prefer to learn what these coins and protocols have to offer rather than dismissing everything without bothering to even understand how they work. I am not here arguing that every single stablecoin or crypto asset is trustworthy; there are indeed a lot of scams out there and the amount of noise is tremendous. But if you're willing to do spend some time and energy and look under the hood, you will find that there are quite a few legitimate projects out there (the number of DeFi protocols generating revenues and turning profits has gone through the roof since last year).

[Stocky]

On 5/12/2021 at 5:50 PM, Neeranam said:

They have insurance. 

You didn't read the Celsius explainer you posted properly.

https://celsiusnetwork.medium.com/what-we-do-how-we-do-it-9a82124f7159

It says:

"So what do we do without standardized insurance like FDIC? Well, the risk assessment I previously described is our main protector. Our secondary source of protection comes from our partner, Fireblocks. Most of our customers’ assets go directly to Fireblocks when transferred to the Celsius app. Fireblocks has insurance for assets that are in-transit, which is perfect for Celsius as we have a continuous flow of funds coming in and funds going out."

 

Not exactly comprehensive insurance now is it.

There's plenty of dismissal of the over 60s here, but with age comes experience, I'm not against any kind of investment or financial instrument, but I am hugely sceptical when someone is suggesting the only way is up. No I'm not some embittered oldie with barely two pennies to rub together, I've been a reasonably savvy saver and investor the last forty odd years and consider myself comfortably provisioned for. I'm wary of evangelical investors, but will watch the progress of digital currencies with interest.

[BenDeCosta]

That video is created by a bunch of people who obviously have vested interests. The idea that something that uses a lot of energy forces governments to invest in more renewable energy is flimsy at best. I've got nothing for or against Bitcoin, I have used it in the past on several occasions to pay for things online from vendors who only accepted Bitcoin. But anything that can drop 20% in a day and you say it's normal, it's not something for me, but obviously there are intelligent investors like Neeranam that can make a fortune from it. I don't have the time to constantly be researching my investments and learning about bull and bear cycles, so I usually invest in more conventional things like bonds, shares and funds, things that reliably pay dividends, but if crypto is your bag and you're doing well then I respect that and hope you do well. 

[rumak]

There is always one sure way to time the market.   If Rumak buys ......SELL 

 

If Rumak sells........ BUY        This has been foolproof for many years now.   I was not in any

market until recently bought some Thai dividend stocks,  just to see if my method was still working.     Sure as hell ,   down again !

[BenDeCosta]

24 minutes ago, rumak said:

There is always one sure way to time the market.   If Rumak buys ......SELL 

 

If Rumak sells........ BUY        This has been foolproof for many years now.   I was not in any

market until recently bought some Thai dividend stocks,  just to see if my method was still working.     Sure as hell ,   down again !

 

Be fearful when others are greedy. And be greedy when others are fearful.

 

Also, never invest in something that you don't fully understand.

 

It's only when the tide goes out that you will see who has been swimming naked.

 

If the greatest investor of all time refuses to invest in crypto, that's good enough for me.

 

“Cryptocurrencies basically have no value and they don't produce anything… In terms of value: zero,” Buffett had told CNBC last year. “I don't have any cryptocurrency and I never will,” he had said.

 

https://fortune.com/2021/05/07/bank-of-england-governor-cryptocurrency-crash-bitcoin-dogecoin-ethereum/#:~:text=clearer than ever.-,Andrew Bailey%2C governor of the Bank of England%2C said Thursday,said at a press conference.

 

With crypto, you're basically buying something that has no intrinsic value, hoping that in the future someone else will buy it off you for more money. Much like the Dutch tulip bubble, the prices went up like crazy and everyone got suckered in, and guess what happened? The people left holding the bag lost everything. History repeats itself.

 

Crypto is all about greed and speculation. That doesn't mean you can't profit from it, of course you can, but you should understand what you are getting in to.

Edited May 13, 2021 by BenDeCosta

[Andy from Kent]

On 5/11/2021 at 10:52 PM, Neeranam said:

You obviously don't understand. 

This site and this one are very secure places to keep your money. 

https://ledn.io/en/

 

 

Nice you claim that.    Can you in any way promise  or guarantee your claim for   those unsuspecting  TVF members ?

[Andy from Kent]

On 5/11/2021 at 10:20 PM, Caldera said:

 

With such an interest rate, it goes without saying that the risk is high.

 

 

 

You mean as in an obvious scam?

 

 

[Neeranam]

33 minutes ago, Stocky said:

There's plenty of dismissal of the over 60s here, but with age comes experience, I'm not against any kind of investment or financial instrument, but I am hugely sceptical when someone is suggesting the only way is up. No I'm not some embittered oldie with barely two pennies to rub together, I've been a reasonably savvy saver and investor the last forty odd years and consider myself comfortably provisioned for. I'm wary of evangelical investors, but will watch the progress of digital currencies with interest.

I don't think anyone is suggesting there is only one way to invest. 

This thread is about getting 12% on your 'cash'(stablecoins). There is very little risk in doing so.