bjornieboy Posted February 3, 2020 Share Posted February 3, 2020 bones 1 Link to comment Share on other sites More sharing options...
Kiir Posted February 3, 2020 Share Posted February 3, 2020 Until........they stop making the right trades and have no money left for interest? I'm probably talking nonsense, so how do they provide interest on such sites? Fleshmeister 1 Link to comment Share on other sites More sharing options...
bjornieboy Posted February 3, 2020 Author Share Posted February 3, 2020 Can have a look here https://medium.com/@CelsiusNetwork/celsius-network-interest-rates-explained-a336a52e163d Link to comment Share on other sites More sharing options...
mandelbaum Posted February 3, 2020 Share Posted February 3, 2020 (edited) Alex Mashinsky is a great entrepreneur, he pretty much created the VoIP protocol causing massive disruption in the worlds telecom companies. All phone calls today use the Voice over IP protocol. He claims he will do the same to international banking, giving most of the gains back to the users instead of the banks keeping most of the profits from customers money placed in the bank. They call it Decantralized Finance, or DeFi. Will it work? Who knows. Celsius could be the killer app that turns the tide for crypto. Or it could disappear. Edited February 3, 2020 by mandelbaum bones and bjornieboy 2 Link to comment Share on other sites More sharing options...
nakedzzrp Posted February 3, 2020 Share Posted February 3, 2020 (edited) 50 minutes ago, Kiir said: Until........they stop making the right trades and have no money left for interest? I'm probably talking nonsense, so how do they provide interest on such sites? When the Ponzi runs out of suckers Edited February 3, 2020 by nakedzzrp Link to comment Share on other sites More sharing options...
bjornieboy Posted February 3, 2020 Author Share Posted February 3, 2020 (edited) 55 minutes ago, nakedzzrp said: When the Ponzi runs out of suckers Dont be a retard. This is no more ponzi then banks and other institutions that are paying interests to depositors. Edited February 3, 2020 by bjornieboy Link to comment Share on other sites More sharing options...
nakedzzrp Posted February 3, 2020 Share Posted February 3, 2020 13 minutes ago, bjornieboy said: Dont be a retard. This is no more ponzi then banks and other institutions that are paying interests to depositors. Down with the banks! Banks are evil! I'll put my trust on this unknown company with a biased blog post with money that is not insured for ezyyy money! Also you shouldn't use the word retard, a more acceptable form of description would be "the only people who put money on this scam are idiots and morons" Link to comment Share on other sites More sharing options...
bjornieboy Posted February 3, 2020 Author Share Posted February 3, 2020 (edited) 11 minutes ago, nakedzzrp said: Down with the banks! Banks are evil! I'll put my trust on this unknown company with a biased blog post with money that is not insured for ezyyy money! Also you shouldn't use the word retard, a more acceptable form of description would be "the only people who put money on this scam are idiots and morons" I dont think banks are evil, i wouldnt be able to own a house without taking a loan from a bank. They could pay out more of the interest to depositors though, and this is what Celsius is doing. And the CEO Alex Mashinsky is far from unknown, just google him. https://www.forbes.com/sites/alejandrocremades/2019/03/12/this-entrepreneur-has-achieved-3-billion-in-exits-and-is-possibly-one-of-the-most-feared-by-banks/#49d3e10f595b ->>>>>>>>>>>> Each depositor account is insured for 100 mn usd at bitgo <<<<<<<<<<<<- Edited February 3, 2020 by bjornieboy AwesomeCopper 1 Link to comment Share on other sites More sharing options...
xrphilosophy Posted February 3, 2020 Share Posted February 3, 2020 1 hour ago, bjornieboy said: Dont be a retard. This is no more ponzi then banks and other institutions that are paying interests to depositors. There is a better way to communicate. Easy on the namecalling. Thank you! AwesomeCopper, orcablue, earth and 1 other 4 Link to comment Share on other sites More sharing options...
Skippy Posted February 3, 2020 Share Posted February 3, 2020 Without insurance, no thanks. Not your keys, not your coins. Ramforinkas 1 Link to comment Share on other sites More sharing options...
bjornieboy Posted February 3, 2020 Author Share Posted February 3, 2020 2 hours ago, Skippy said: Without insurance, no thanks. Not your keys, not your coins. Its in bitgo accounts and each account is insured for 100 mn each Link to comment Share on other sites More sharing options...
Guest Posted February 3, 2020 Share Posted February 3, 2020 I’ve often considered Celsius because it would be at least some ‘profit’ from XRP, but have always chickened out. I hope this space matured enough that one day it would be silly not to earn interest on it. Link to comment Share on other sites More sharing options...
bones Posted February 4, 2020 Share Posted February 4, 2020 7 hours ago, Tinyaccount said: I’ve often considered Celsius because it would be at least some ‘profit’ from XRP, but have always chickened out. I hope this space matured enough that one day it would be silly not to earn interest on it. Same here. Nexo is a similar prospect, have used them successfully but too scared to put "all" my XRP in Link to comment Share on other sites More sharing options...
RussianStandards Posted February 4, 2020 Share Posted February 4, 2020 Theres me then withh all mine in ha Link to comment Share on other sites More sharing options...
peanut56 Posted February 4, 2020 Share Posted February 4, 2020 I've been to scared as well. If xrp gets adopted on a massive scale and these businesses that offer interest are still around, established, insured, and show that they have a working model then I may place decent amount in them and see if it works out to live off of interest. That thought in itself is nothing more than hope wrapped in a dream since the future and reality are unknown. Link to comment Share on other sites More sharing options...
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