Well, if that end up, i don't know what it is. I just found out that celsius, one of the leading cryptocurrency lenders and in fact one of the more aggressive ones for the past few months is actually saying that you cannot take out your own money. Your own money, you cannot take it. The withdrawals are blocked.
This is literally what happened in lebanon. This is stuff that don't happen in america, it's literally what happened with luna, so i guess it doesn't happen in america. So let me explain what happened so. Bitcoin crashed after the inflation numbers came out was hotter than you know, expected 8.6 percent everything went to the toilet, cryptocurrencies obviously felt the same pain, and at that point this was a big shocker celsius came out and said: hey.
We might have a problem here, um yeah. We can't let you guys take your money, we don't have enough of it. It's extreme conditions now, obviously they're citing their terms of service that they can't do it. But i mean don't read those 57 000 pages and everybody knows that you can hide in those terms of service as much as you want.
The problem is that these guys are taking what i think is extreme moral gymnastics to justify what they're doing, because for me this is theft, they're, stealing money from you, the clients. This cannot happen in america now. Basically, what happened is that they're, actually afraid of a bankroll now bankrupt for those who are not familiar with the terms is essentially what happened in argentina years ago. Basically, everybody is fearful that the banks don't have the money and they run on the bank, like the best example.
For this to be is like, let's say that the king has a castle and every few days some people come to work in the castle and then, instead of giving them gold, the king gives them notes of paper. Saying hey. I owe you gold and then because he's the king and everybody knows he's good for it. People just use these papers to actually buy, and at some point everybody gets so many papers and the bartenders and says well dude, there's like a thousand people here in this bar and everybody has a piece of paper.
How do we know the king has enough gold to back it up and everybody's running towards the castle? The king is locking up the castle like quick, quick, quick and they're trying to bang on the doors get the gold. You know the story, so this is a bank run. Essentially it happens at the atms and you know the atms don't have enough money if everybody wants to withdraw all their cash right now, there's not enough of it. So there's a lot of trust built in there.
So when crypto actually started falling celsius got freaked out and basically said, hey, you can't go to the atm. Basically now this made thing worse and, as you probably heard, bitcoin is nearing twenty three thousand twenty four thousand. Obviously it's not a healthy situation. Uh i just wan na remind people that celebrate this as the collapse of crypto. I don't know if it is, or it isn't, but it's a little bit too early for the victory lapse, because i mean it's kind of a macro thing. I mean it's not like paypal or facebook or amazon or any other stock is doing better. I mean the entire market is in the toilet, except oil. I mean everything is down, so it's not the crypto thing, so i wouldn't celebrate just yet hold on a second.
I do have an interesting piece of information. I think that the celsius specifically is more about celsius being a little bit of douche bags in the sense that they're offering exuberant interest like 20 and and i think they were investing in luna, which was a stupid thing to do in general. So, very careless, very aggressive and now you know they're paying the price. So it's more of a celsius thing than a crypto thing, but here's my own personal theory, and if you lasted this long in the video you deserve to hear it, i'm not going to clickbait it in the title.
I think that, because elon musk purchased bitcoin at around 30 grand he's going to want to pump it a little bit right now, you know post a few memes on twitter say a few interesting stuff. You know on social media and pop the price up, because if he doesn't, and by the end of this month it's going to be end of q2 he's going to have to take a loss on tesla's crypto investment, because it's underwater. So if elon needs it to be about 30, so he doesn't have to take a loss and all he has to do is post a meme. I think he might do it.
I don't know, i don't have any information about this. It's just my own crazy theory, but i'm saying that we might see some elan crypto pumps soon, because otherwise you'll have to take a big loss on the crypto uh, specifically a bitcoin that they own, but just a crazy theory. Let me know if you agree or don't agree with me. You know if anything, elon must just get an idea from this video and actually do it, who knows, and but yeah it's also just going under um cryptocurrency haters are celebrating and again a little bit premature in my opinion.
But let's see what happens, let me know below if you guys agree or disagree with me.
By Stock Chat
where the coffee is hot and so is the chat
it doesn't matter what price BTC is at the end of the quarter, it is whatever the lowest price is during the quarter.
Teslaโs is only down about $160 million on its BTC. So like 1/5th of 1% of the company net worth. So this is meaningless.
We've gotten to the point where even btc is begging for elon lol not just doge and shib
Although it would be great to hear from Elon, this is a time where every individual must determine for themselves the value of the technology and their belief in it. as for me, I buy and HODL. Dug in like a tick!
I can believe you are hoping this guy save people for their stupidity .
I never saw 20% interest offered. You were think about Lunaโs anchor which was definitely a ponzi. The problem here was staked etherium which was losing its peg.
Aye man. Word on the street is SBF from ftx is Attacking Celsius. Dig in Tom! Interesting stuff.
Btc fell 25% in one week the stock market has not done that bad
Donโt Fight The Fed. Donโt Fight the Tape. Classic Wall Street mantras. And for good reason.
Of he buys some, and it leaks out he's buying, the sheep will follow, and the rocket will take off…๐
i'm no longer waiting for the grant loan because i earn $ 46,700 every 10 days recently
The keyword is โsuspendingโ withdrawalsโฆthis will be temporary and honestly stopping a panic run is a good idea in my mind. People need to calm the F down if weโre going to weather all this macro nonsense
apparently if btc drop to 21k or below michael saylor gonna get margin called….
They will let you withdrawal when it goes below zero
It happens in America with funny money…Scamming season is ramping up suckas… ๐
Tom- perhaps I misunderstood. My understanding is that TSLA must take an impairment charge on the LOWEST price that BTC reached during the quarter. And not just at the time of the earnings report. So he could pump it all he wants but the damage is done (at least on the PNL)
Just bought 5 eth this weekendโผ๏ธ Thx for the advice Warren๐
It happened to me with Mt.Gox.
Good luck getting your money.
If Elon doesn't… Mr. Sweating bullets right now, gonna have a margin call, Saylor will be all over Twitter and YouTube soon.
Iโve seen people saying that not only can they not withdraw their money, but the ones in margin are getting margin called. So Celsius wont let you take your money, but theyโll take more of yours.
What numbers on your screen do you trust the most ๐
Make video on What will happen in world in next 25 years.
You will be surprised by what other things will happen in America.
Real life bank runs are about to happen in the West. Watch out.
Tom you crazy bastard! Elon has enough problems with the SEC, don't put idea's in his head.
Maybe they will finally get rid of all these scam coins and services. Not your keysโฆ.
Dude if Elon wants to pump BTC he just needs to buy some more. Itโs a chicken and egg thing.
Rudyard Kipling with some timely advice:
If you can keep your head when all about you
Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you,
But make allowance for their doubting too;
If you can wait and not be tired by waiting,
Or being lied about, donโt deal in lies,
Or being hated, donโt give way to hating,
And yet donโt look too good, nor talk too wise:
If you can dreamโand not make dreams your master;
If you can thinkโand not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two impostors just the same;
If you can bear to hear the truth youโve spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build โem up with worn-out tools:
If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: โHold on!โ
If you can talk with crowds and keep your virtue,
Or walk with Kingsโnor lose the common touch,
If neither foes nor loving friends can hurt you,
If all men count with you, but none too much;
If you can fill the unforgiving minute
With sixty secondsโ worth of distance run,
Yours is the Earth and everything thatโs in it,
Andโwhich is moreโyouโll be a Man, my son!
Will next be FTX?
Will Tom Nash still recommend them if FTX pull that trick?
It cannot be theft if a stop of withdrawal is listed as a possibility in the contract between the company and the client.
Damn, I hope this correction will help to move forward with the adoption of btc being more mainstream
I think Mortgage-Backed Securities went "No Bid" on Friday and I have no idea what that all means for sure but not good for market. I feel like thatโs the main cause
Don't be discouraged by the rug pulls… I mean dip buy opportunity. Now is the time to gamble heavy… I mean invest. Shitcoinery is definitely not a Ponzi Scheme, it's the future of the entire world. Yt influencers told me so while making millions peddling shitcoinery. ๐ค๐ค๐๐
I never heard of Celsius or Luna until all the negative news about them ๐คท๐ฝโโ๏ธ