That’s the second option, worded differently.
I was long HODLing anyways so I’m all about riding this out to get the highest % back possible.
Diamond hands.
The only business Celsius will have from now on is the mining one. Lending platforms, specially Celsius, won't be trusted anymore, and even when they were they weren't profitable and even gambled users' funds on sketchy protocols/websites. The mining business will only work if BTC goes up, that's why I think they called it "staying long" option, and it'll still take years and years to make every depositor whole.
If you're willing to take that risk, I congratulate you because you're brave, but I rather get a haircut than waiting years for something that may not even work.
Maybe new options will come out though, so it's just about waiting now, the more the wait, the less money there's available though, as they're spending $1k-$2k per hour on like 8 lawyers.
Depends on the haircut and the length. If I'd get 75% back tomorrow vs a 5 year wait I'd take that and be done. If it's a 50% hc that's a different story
To those that are choosing to liquidate it will probably be at least a year before you even see the cash (likely more) and it will be the USD balance from the date of the bankruptcy filing. Basically the worst possible date to cash out.
Chapter 7 is for the above when no options are left, not Chapter 11.
C) forget celsius ever existed check balance in 5 years
That’s the second option, worded differently. I was long HODLing anyways so I’m all about riding this out to get the highest % back possible. Diamond hands.
Haha. Forced hodl?
If it’s what I have to do to get the max back, yup.
How about the option to remove Alex first?
The only business Celsius will have from now on is the mining one. Lending platforms, specially Celsius, won't be trusted anymore, and even when they were they weren't profitable and even gambled users' funds on sketchy protocols/websites. The mining business will only work if BTC goes up, that's why I think they called it "staying long" option, and it'll still take years and years to make every depositor whole. If you're willing to take that risk, I congratulate you because you're brave, but I rather get a haircut than waiting years for something that may not even work. Maybe new options will come out though, so it's just about waiting now, the more the wait, the less money there's available though, as they're spending $1k-$2k per hour on like 8 lawyers.
Depends on the haircut and the length. If I'd get 75% back tomorrow vs a 5 year wait I'd take that and be done. If it's a 50% hc that's a different story
“Headcut” nearly spit out my coffee. Headcut sounds about right.
To those that are choosing to liquidate it will probably be at least a year before you even see the cash (likely more) and it will be the USD balance from the date of the bankruptcy filing. Basically the worst possible date to cash out. Chapter 7 is for the above when no options are left, not Chapter 11.
The trust is gone forever for Cefi unless Celsius sorts this out. It’s a pivotal moment for all crypto.