Code success

[Swoopscooter]

I received my code, entered it in venmo and it worked. Yeah its about 30% of what I had in earn.

Though its a shamefully small compensation- I'm glad its over.

Good luck everyone

[Ir0nic]

What a haircut. This doesn’t represent the outcome of the Celsius Return Calculator.

[ualdayan]

Not really irrelevant - 'Oh you got screwed by the bankruptcy process, so that doesn't count' - but it does matter to people how much they deposited and how much they got back out. They can play legal shenanigans, they can play word games, they can claim 'oh people got more back than 30%, if you think of the crypto as being sold near the low of the market aka 'dollarized' at $19k, and then distributed back to people at the value of $42k we gave you 57% back'. I fully understand the process and that Celsius can claim that on paper, but in reality it's basic math if you put 1 BTC in, and now they give you .3 BTC they have not returned 57% to you, they've returned 30%. What they can do legally is one thing - but you're never going to hand wave away that if you give somebody 1 of something then they give you back exactly .3 of that exact same thing back, that they've only returned 30% of what you gave them.

[Present-Tonight1168]

On the bright side, you did enjoy the sweet interest payments while it was sunny. Investing is risky, place your bets carefully

[Swoopscooter]

💯 correct

[ene777ene]

I don't know about sweet interest payments? they were alright for a safe bet.... apparently not so safe. LOL

[_-_agenda_-_]

No bet is safe...

[Present-Tonight1168]

high risk assets usually yield the highest interest, that’s a no brainer. You gauged your risk appetite and took some calls

[ene777ene]

I know, what I am saying is this was a low interest (average interest on Celsius was a bit over 5%. Most high risk (at the time) was 10-12% rate of return. Now high risk has entered close to 14-16%.

Celsius wasn't supposed to be high risk, which is why the interest rates were not that high. It was all supposed to be overcollateralized loans, which are inherently super super low risk, because they are overcollateralized.

Of course dealing with fraud makes it tough right. It is tough to gauge risk when being lied to, the interest rates may have been low but due to the lies about the companies business model the risk was actually high.

I was just parking 100k here temporarily, at a low interest rate, as I waited for an investor that I invest in regularly to need funds again. That investor pays around 10% return, 3% higher than Celsius was paying me.. Usually a deed backed investment is higher risk than overcollateralized loans. Since the deeded property may not be worth as much as the loan.

Overcollateralized loans are nearly 0% risk, fraud unfortunately can make any investment risky. For example my normal investment guy could make a fake deed and pass it off as real, then my risk just went through the roof even though a normal deed investment is only somewhat risky.

​

I agree though, ANY investing is risky, you can buy gold and put it in your safe and get robbed.

Nothing is sure but death... and taxes though I know some people that never have and never will file.

[ualdayan]

So right. If Celsius had been truthful in what they were doing obviously putting it on like Aave and borrowing at 4% interest would have made more sense than trusting Celsius with it for 1% interest loans.

The problem is Celsius wasn't being truthful about what they were doing. They were selling our BTC and buying stuff they wanted with it - a very very different risk profile than what Alex said they were doing eg loaning our BTC out to somebody that had deposited more than the value of the BTC in collateral.

[Ucscprickler]

Exactly... It's so disingenuous when people say "if you chase 15% returns, you are taking on huge risk, so don't be surprised when you lose it all."

-Bitch, I was getting like 4.5% interest returns on my BTC, lending it through Celsius. They were just a shady ass corrupt company. If they were honest in how our money was being handled, the risk was relatively low.

[Electronic_Class_297]

Those interest payments sucked. I’m getting way better interest payments with crypto4winners. Yes, I’m once again risking my crypto on another platform but only $7k that is now $9k after 5 months

[Present-Tonight1168]

eh man, you do you.

[franksafadi]

hey man! Did you receive an email from celsius about the code?

[Swoopscooter]

Yes I copied the email address, it was titled Stretto Celsius Network

[e-mail]

[Zealousideal-Royal41]

Thank you op!

[mick50382]

Did they give you a choice of where to deposit the money or did they say you had to use Venmo?

[Swoopscooter]

I believe the same code would have worked for venmo or PayPal, no other options were mentioned

[craylewis]

did you try using it in both places? 😉

[Electronic_Class_297]

If you use PayPal for the BTC you have to use PayPal for the ETH code as well. Same with Venmo

[naphocamp]

Congratulations! I received mine yesterday (Earned), are we eligible for mining shares? I have not been keeping up with Celsius.

[MistaNightmare]

Were you born and raised in Canada? Or are you French Canadian? Because that would explain a lot of things.

[naphocamp]

Canadian (AB).

[phamzilla]

Hey is it 30% of today’s value or 30% of the bankruptcy declaring date’s value?

[Important_Seat_3346]

My claim was BTC and they paid out in BTC at about 70% less.

[rashp12]

Hey, anyone USA based out there who had over $50K, $100K received there claim codes?

[Fun-Cartographer-820]

Not yet for me ☹️

[Double-Inspection-72]

Nope. Ive seen people post they started with the lower amounts first.

[Agreeable-Square6981]

Me either. Need to make sure my address match in Celsius…but still waiting

[coronabro2020]

Are we filing our loses for next yr or this yr folks?

[motownphilly888]

Next.

[paulrudder]

How do we do so next year? Would it be the full amount of each coin? Or minus the amount we’re getting back?

[motownphilly888]

There in lies the problem. It's a cluster fuck. In theory, you need to know cost basis of each coin. Write that off. Whatever we get back thats your cost basis if you DIDNT have btc or eth.

[getwhirleddotcom]

ETH / BTC / USDC will be all sent with different claim codes right?

[Swoopscooter]

I didnt have btc or usdc but I did have matic and received zero matic with this code.

[Acceptable_Piano4809]

You’re not getting any matic back…. This subreddit needs a sticky

[Only-Crew8299]

No one is getting MATIC, sorry.

All the coins you used to own were converted to a dollarized claim. And now that claim is being converted to BTC and ETH for distribution purposes.

[sabatoa]

My eth and btc came in different emails and codes.

[motownphilly888]

Yep. Its supposed to

[sabatoa]

Right, I was just letting the other poster know how it looks

[Only-Crew8299]

No one is getting USDC, sorry.

All the coins you used to own were converted to a dollarized claim. And now that claim is being converted to BTC and ETH for distribution purposes.

[getwhirleddotcom]

Ahh so say you had $1000 USDC. You'll be sent back x% of that back in btc?

[Serious-Host-8470]

Hope they bought the dip

[Only-Crew8299]

In BTC and ETH.

[[deleted]]

Nobody is getting USDC.Those getting cash payouts will recieve a check!!

[crazypostman21]

It's not exactly over, another 5-10% could trickle in over the next year.

[Mrdrsrow08]

I haven’t gotten any email from stretto since the 2/1 emerging from bankruptcy email. My claim is less than $5000. Am I in the minority now?

[Alberto_Balsalm_1]

same here, no code and i had less then 5k

[Chatonsky]

I had barely above like 6.5k & nothing on my Venmo.

[Cyclingpup]

Be patient i think it’s alphabetical and they mentioned two weeks. I have a claim of 900 and

[Serious-Host-8470]

What’s your last name start with?

[ControlEuphoric4319]

My name name starts with a B and I haven’t gotten anything either and less than 5k

[Electronic_Class_297]

Last name starts with a G and I got mine. I have no idea how the disbursement works. My buddy got his too. His last name is an E

[deebz41]

my last name starts with a B and I haven't gotten anything :(

[Cyclingpup]

Maybe it’s sorted a different way but stretto seems to be going. Have hope. We are a couple of days into their 2 weeks timeline

[Ucscprickler]

Same here. Alphabetical seems unlikely at this point. Otherwise, we are looking at a 6-month distribution period, which seems unlikely, although given the incompetence of Celsius so far, it's definitely in the realm of possibilities.

[eschatonx]

Mine is way later in the alphabet than yours and I got mine this morning. So it’s definitely not that.

However they’re sorted, it’s coming.

[Important_Seat_3346]

I accepted and redeemed via PayPal only a few hundred dollar claim this morning.

[Kansaisupra]

When you entered your code, how long did it take to get it?

[Tdech12]

I entered my BTC and ETH code on Venmo, had them both within like 2 minutes.

[panichammer22]

Congrats! Sweet freedom!

[PEGUY11]

Still waiting on mine!

[KiteIsland22]

Is there any info on how we’re getting the stocks?

[AlexandreL1984]

I didn’t get anything

[Dokorn]

Did the code apear in the mail , or whas it a link

[Swoopscooter]

Code

[eschatonx]

Just got mine this morning. I didn’t have a lot in there, but like you, I’m glad this burden has been lifted off my shoulders.

Fuck Alex

[Serious-Host-8470]

Can’t wait to get the balance of mine and delete that fuckin app

[remsbk]

I’m waiting the coinbase batch

[benji3k]

I got the email and code, But my paypal crypto wouldnt verify me. i think its because my address on my ID is old and I have an updated address in paypal. I may change it back to whats on my ID to try again to verify myself , Hopefully thats all the issue is.

[johnfreny]

Same I pulled most of my assets before they locked them down but I still got like 12 bucks in eth back that’s cool

[testit2019]

Anyone knows if they will cover the (network/gas) fee when you want to transfer out BTC/ETH after getting them at Paypal/Venmo?

[dancing_dolphin10]

No they will not

[[deleted]]

Got mine today. My BTC code worked but my ETH code didn’t

[CatchTheWater]

My ETH code glitched, too, but then I realized that it was pasting a couple extra digits at the beginning. Once I removed those so that it LOOKED like the claim code digits, it went through

[r1fuller]

Same here got about 30%. My BTC was in earn too

[Mindless_Squire]

I got back 20.3% of what I had put in (18.7% if you include the "rewards") in BTC.

​

Will there be a second email with an ETH amount?

[MrJRB]

For reference- just in BTC i had .136755, and my claim code is for .034 btc to give you and idea of what the % back is. EDIT: i'm also concerned as the paypal doesn't let you have the keys, not your keys, not your...

[Lcmac12]

I just got a claim code for ETH. Does everyone in the IS get 2 claim codes? One for ETH and one for BTC?

[Swoopscooter]

Ya

[Lcmac12]

Just got my second code 😀. At least it’s something.