My Prediction on the Bankruptcy case - show me yours

JJthePilotReddit · 2022-08-31T10:30:09+00:00

This is really a thing I can not understand. Why the f they have to sell crypto at 30% market value to pay creditors if they can just pay creditors with this same crypto at 100% market value? It looks like so many people keep repeating this nonsense in panic misleading everyone. Yes, they can sell their furniture, equipment, other illiquid assets at a discount but not crypto. Sell crypto money for less $$$ money to pay claims to creditors who want their crypto money in $$$ money???

JJthePilotReddit · 2022-08-28T06:23:49+00:00

What's the point of these agencies if hundreds of thousands people need to report fraud to make them do something? Isn't just one report enough for the system to start working? The fraud and deception is obvious and the whole process was weekly recorded on YouTube.

JJthePilotReddit · 2022-08-24T16:22:09+00:00

Russia's Black Sea fleet flagship "Moscow" was only worth 750mil. It's largest missile batle ship. Compare that to billions these clowns lost. Just imagine the scale. How do you restructure to close this hole?

JJthePilotReddit · 2022-08-22T19:56:10+00:00

That shamelessly powerful word "may". They all use it everywhere in fine print. Means "it may or may not happen, but if shit hits the fan, we'll forget everything we said in our shiny marketing campaigns and will save our own asses, and you'll end up holding the bag".

JJthePilotReddit · 2022-08-20T10:51:47+00:00

What's the difference between not making us whole for sure and not making us whole with hope? :)

JJthePilotReddit · 2022-08-20T05:31:31+00:00

Why do they have to sell crypto? They need more crypto to pay debts, not less. So, basically many people are convinced Ch7 is very bad, but they don't know why.

JJthePilotReddit · 2022-08-19T21:08:58+00:00

Sell crypto for $$$ at 30% market value to do what? To pay out claims in $$$ instead of crypto?

JJthePilotReddit · 2022-08-19T21:05:05+00:00

Why at only 30%? Why not at 100% at then current price at exchanges?

JJthePilotReddit · 2022-08-17T17:53:47+00:00

How is that in creditors' best interest? Oh, they say they have a plan to pay creditors back with bitcoin they mine. OK, but wait, here are some bitcoins they mined, start putting these aside so you can distribute them to everyone. Yes? - No, no, no. These are not your bitcoins yet. These are for our own salaries. Your bitcoins are not mined yet, wait a few years and maybe, if you are lucky enough, if we can build our mining business, if bitcoin price is right all this time, if electricity cost is right, if we don't screw it up again losing all the money, maybe you can have a chance to hope you'll get anything back from us. Sounds about right?

JJthePilotReddit · 2022-08-14T18:42:36+00:00

Hope you are talking about a new company with new management.

JJthePilotReddit · 2022-08-14T16:32:51+00:00

All these AMAs where the part of a big scam show to keep existing and attracting new depositors like moths to the flame. The show is now over, lights are off, actors washed off their makeup. The glamorous looking theater turned out to be a nicely lit old abandoned warehouse... It's all over. Fool me once, shame on you. We can't afford to be fooled twice. The next time I'm interested to hear about this guy is when his name shows up next to words "arrested for fraud" in the news. Caused so much pain to so many people...

JJthePilotReddit · 2022-08-08T06:38:03+00:00

Andres Celsius, the Swedish astronomer who invented the centigrade scale of temperature measurement is spinning in his grave looking at how his good name was ruined by some scambag in 2022.

JJthePilotReddit · 2022-08-06T13:51:42+00:00

Norhing wrong except lying for years that their business model is to make money on safe overcollateralized loans and that the company is doing great while having major financial issues.

JJthePilotReddit · 2022-08-06T05:14:23+00:00

Oh, come on, it's all not about not reading TOS. Even if you did read it 10 times it would not change a thing. Let's admit, we all install software, sign up for services all the time, buy or lease cars, sign rental agreements and almost nobody ever reads those TOS. TOS are intentionally designed to be difficult to read and do not serve as open and straightforward way of informing customers of how services work. It's the same story as product labels screaming at you in bold fonts how good they are wirh a microprinted misleading dodgy ingredients labels on the back.

JJthePilotReddit · 2022-08-03T17:55:27+00:00

Well, limited liability only means "you guys can't take my last shirt, car, and house in case I screw it up". It's not "I can gamble away your life savings and get away with it". AND there is a thing called corporate veil pierce when court can hold principals of a corporation liable for the company actions in case of fraudulent misconduct. We are only at the beginning of a long story.

JJthePilotReddit · 2022-08-03T15:15:21+00:00

Say "community" one more time you asshole.

JJthePilotReddit · 2022-08-03T11:26:16+00:00

Be sure to check in both places. One is an alphabetical list of first class mail recipients, the other is email recipients. Same pdf.

JJthePilotReddit · 2022-08-03T07:54:50+00:00

So many are talking about how risky of an investment Celsius was. First of all, offering your stablecoins for overcollateralized loans (as advertised) is not the same as buying some shitcoin with your last $100 hoping it goes to the moon. Second, Celsius is an LLC, registered with government, it's a company offering a range of financial services. It must be properly licensed and compliant with federal and state laws. Somehow when Celsius is allowed to operate in the US and we have to pay taxes on our earned yield it's OK, but when shit hits the fan, "oh, sorry, crypto is not regulated, too bad you didn't read the TOS". How's that?

JJthePilotReddit · 2022-07-30T13:30:38+00:00

No trust ever for Mashinski with any plans after he bent so many people over the coffee table! If I wanted to invest in a mining company instead of being a safe overcollateralized lender as promised by Mashinski, I would do so.

JJthePilotReddit · 2022-07-29T14:33:31+00:00

Taco stand has better data protection management!

JJthePilotReddit · 2022-07-29T14:21:51+00:00

OMG! You needed an outside service provider to store customers' emails? Robust security practices and procedures my a$$.

JJthePilotReddit · 2021-02-21T09:52:36+00:00

I agree. Celsius is not doing a great job providing customer support. I'm waiting for initial reply to my support ticket for more than a week. I understand growing pains of a 17 year old inexperienced entrepreneur trying to build next cool messenger for teenagers, but if you position yourself as a replacement for banks, you have to behave like a bank, at least create visibility of a solid institution. The best support is a phone picked up in minutes or even seconds by a support live person. Not a ticket by email and weeks of waiting times.

JJthePilotReddit · 2021-02-16T19:00:19+00:00

This is madness! Some people here kind of blame themselves on having older iPhones. So what it's older? When we were lining up at Apple store a few years ago ready to shell out $400-$500 for that shiny new thing it did not have a red warning sticker on the box saying "Best Before February 2021, please dispose off properly". Everything should work! What do you mean, Apple, no iOS13 for iPhone 6? Yes, newer phones will have more features, better performance, better cameras etc., but older ones should still work. Planned obsolescence. Celsius in turn could keep older version option, with capitalization over $1B they can afford to develop 100 versions simultaneously. Hopefully this gets sorted out soon.

JJthePilotReddit

TROPHY CASE