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bjornieboy

Celsius Network pays 4.27 % interest on XRP from feb 1

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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?

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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 by mandelbaum

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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 by nakedzzrp

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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 by bjornieboy

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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"

 

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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 by bjornieboy

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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

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Guest

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.

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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 :D

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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.

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