This morning a stark warning was issued by a major bank head in light of recent moves by Celsius. Celsius operates somewhat like a traditional bank, albeit one for crypto rather than fiat currency. Until this week, it was considered among the most successful parts of the decentralized finance (DeFi) movement.
Yesterday Celsius issued this, “Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts.”
All crypto-currency has taken a huge hit…Bitcoin alone has lost 67% in the last 8 months.
I’ve warned about crypto-currency for a long time. It is NOT a prepper item at all…and it is a horrible investment option. It is something that any sane person would stay very far away from.
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I don’t invest, I use it and live in the now lol. The same way I use my country’s currency . Bitcoin never dropped if you don’t compare it. Stuff that cost X bitcoin still cost X bitcoin
Ya shouldn’t be “Investing” in This digital BS Anyway.
[If you are in crypto-currency] you are part of the problem not the solution.
No Sympathy from this house.
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Crypto is not an investment…unless a person really, really likes speculation. And even then…be prepared to lose it all. There is NO value to it of any kind. Well, except for the value of wishful thinking.
What slays me is those folks who think it is a prepper item…or a way to go untracked with purchases. The electronic trail it leaves is completely traceable by the US federal government…specifically the IRS.
I’m glad I never got into crypto.
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Like any Ponzi Scheme…if you get in on the ground floor you might do well. Otherwise, a person becomes just another chump for those at the top. What gets me…there is NOTHING of value behind crypto…nothing at all. It is worse, far worse, than any fiat currency. Oh well…some will live and hopefully learn from this.