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Sorry if this has been asked previously in the thread, has anyone on here taken a small punt on a crypto? Like £50 / £100 something like that? If you did, how did it go?

I'm not interested in Python bullshit. Just wondering.

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Major crypto lending platform Celsius on Monday announced it was suspending all withdrawals due to “extreme market conditions,” triggering a major selloff in the cryptocurrency market with Bitcoin dropping dropping more than 9%.

In a blog post on Monday, Celsius said it was “pausing all withdrawals, [currency] swap, and transfers between accounts,” noting that it was doing so to allow itself to meet all of its withdrawal obligations in the future.

The company said its action will “stabilize liquidity and operations while we take steps to preserve and protect assets,” and added that its customers will continue to accrue rewards during the freeze.

According to its website, Celsius claims it held $11.8 billion in assets as of May 17, has processed $8.2 billion in loans and has around 1.7 million customers.

Following the announcement, the value of Celsius’ own token (CEL) slumped by more than 50%, and as of early Monday morning, it was trading below 20 cents—massively down from around $2 in early May and $7 in June last year.

Celsius’ announcement also triggered a selloff in the wider cryptocurrency market with Bitcoin dropping below $25,000, its lowest level since December 2020.

The suspension of withdrawals comes just a day after Celsius founder and CEO Alex Mashinsky hit out at critics on Twitter, accusing them of spreading misinformation and FUD—a popular crypto acronym for “Fear, Uncertainty, Doubt.” Responding to a tweet by Mike Dudas, the founder of crypto news outlet The Block, Mashinsky wrote: “Mike do you know even one person who has a problem withdrawing from Celsius?… If you are paid for this then let everyone know you are picking sides.”

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22 hours ago, johnnydun said:

Sorry if this has been asked previously in the thread, has anyone on here taken a small punt on a crypto? Like £50 / £100 something like that? If you did, how did it go?

I'm not interested in Python bullshit. Just wondering.

I did.  Took a small punt of a couple of hundred quid on XRP.

It's down from where I bought it. Whilst I understand XRP to be backed by decent technology with real applications, I just viewed it as a gamble on whether they were to win their case with SEC.  

 

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Freaky crypto scams preying on the gullible are so commonplace these days that they're barely news but this one is an absolute doozy

image.jpeg.53b7557909c4809d6923ad5b92aa77af.jpeg

It's a new token the USP of which is that they're going to build a massive statue of a goat with Elon Musks head riding a rocket and park it outside Musk's office 

They then get themselves a chance to pitch it to the general public on  Fox News Investment show which appears to takes them seriously 

Most of Coffeezilla's videos could go on this thread but while he's covered bigger stories than this I don't think he's dealt with anything quite so batshit crazy and entertaining

 

Edited by topcat(The most tip top)
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3 hours ago, oaksoft said:

Indeed.

Crypto in Freefall...

https://www.morningstar.co.uk/uk/news/224160/crypto-in-freefall-as-platforms-halt-withdrawals.aspx

Samaritans : tel  116 123

 

Edited by beefybake
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I won't celebrating a load of people losing money, but neither will I be happy when the inevitable true believer comes along to say it's an amazing opportunity to get rich as they'll never be this low again.

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1 hour ago, DiegoDiego said:
2 hours ago, 54_and_counting said:
Looks like the ponzi scheme has run out of gullible b*****ds, 

I don't think that's correct. Wallet addresses with 0.01 bitcoin, 0.1 bitcoin, and 1 bitcoin continue to hit all-time high levels.

That will maybe be down to people paying for stuff that isnt exactly legal, one of the earliest kinda sports iptv/stream providers started charging in bitcoin (sportsmania) years ago, and it was wee shitty amounts like that 

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That will maybe be down to people paying for stuff that isnt exactly legal, one of the earliest kinda sports iptv/stream providers started charging in bitcoin (sportsmania) years ago, and it was wee shitty amounts like that 
Suppose it depends on your definition of a shitty little amount but even 0.01 bitcoin is still £190.

Doesn't really matter what it's down to, it indicates that the ponzi* isn't collapsing.

*though it's absolutely not a ponzi scheme and I wish people would stop using (and pronouncing) the term incorrectly.
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