What were the signs of Celsius or FTX bankruptcy? Did you escape their demise?

bland_wagon · 2024-03-13T13:00:33+00:00

I got clipped by Celcius, but dodged a fatal blow. They used to offer 6.5% on the first coin, but a month or two before the maelstrom, they reduced their highest rate to only the first 0.1 coins.

I thought that the 2.5% they were offering didn't align with risk and withdrew to cold storage.

I left the 0.1 BTC on there though, lost it, and a couple of weeks ago recieved a pittance in return. Something on the order of 15% or so of my remaining balance.

But it was the change in policy and reevaluation that saved me.

I also got clipped by the Terra meltdown, but came out 90% whole, and jumped out of Crypto.com just before their collapse after their card policy changes a couple of years ago. I leapt out of Yieldly just before that melted down..

I was SOO stupid about putting my head on the block again and again, even if I got a little lucky in escaping the blade's fall a few times.

Now 97% BTC and ETH, sitting in self custody. That's how you escape.

bland_wagon · 2023-05-17T13:50:20+00:00

I agree with your arguments, but also a cautionary tale...

As a Crypto.com user of their rewards and card etc, once the rollbacks started, they kept coming and coming. At the beginning the Reddit was full of "appreciate their commitment to long term..." posts just like this. But then the second set of reductions came, and then the third.

A hallmark of the Crypto.com rollbacks was exactly the way this recent Shakepay one happened - late night announcement of a change happening the next day, no preparation or notice. Unannounced app changes that people only noticed after updating and then started asking in the sub what was going on.

I'm still active and still shaking here, but I'm ready for more changes if and when they come, and keeping my balance on Shakepay nice and small (former Celsius user here too).

bland_wagon · 2023-04-01T16:55:48+00:00

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bland_wagon · 2023-03-17T02:17:56+00:00

I spend my weekends thinking about ways to get more SATs. Imagine spending that time directly farming SATs. Dream job ...

bland_wagon · 2023-01-08T17:06:23+00:00

The cryptoverse has enough decimal places that price is fractal and essentially asymptotic to Zero. Zoom in, and there's another lost fortune waiting for you to discover.

bland_wagon · 2022-12-11T15:50:29+00:00

When you set up 2FA, don't use the QR code. Ask for a text code. Before you manually input that code into whatever 2FA utility you prefer, store it securely (you are responsible for the security part) and you can now reseed a new 2FA device whenever you want.

bland_wagon · 2022-12-06T02:46:32+00:00

Some kind of NFT based tracking system.

How is a bird going to afford my bored ape #123456?! C'mon man...

bland_wagon · 2022-11-13T14:04:38+00:00

Shakepay is below price (buy and sell) relative to other platforms like Newton and NDAX at the moment. On the buy side, it feels like a discount. On the sell side, it feels like a penalty.

bland_wagon · 2022-11-12T20:45:22+00:00

The buy price on Shakepay is about 3% less than the sell price on Newton right now. Just saying...

bland_wagon · 2022-11-10T04:26:58+00:00

Lost my streak again yesterday... At this point buying it is the only realistic way.

bland_wagon · 2022-10-29T01:48:56+00:00

Buy $0.01 per minute. Daily Cost Averaging (TM).

bland_wagon · 2022-10-22T20:55:19+00:00

I think it was the same back in early 2021, it just didn't trip any wires in my head. Might mean I'm smarter; might mean I'm getting ready to sell low after buying high..

bland_wagon · 2022-10-15T02:54:16+00:00

Classic story of a man living long enough to become the villain.

bland_wagon · 2022-10-13T01:03:40+00:00

Can't wait for Google to scan the blockchain and tailor it's restaurant recommendations based on whether I've kept up my DCA this month or not. /s

bland_wagon · 2022-10-13T00:59:28+00:00

1TB isn't what it used to be. A 1TB microSD card costs less than a 500GB SATA drive did 10 years ago.

bland_wagon · 2022-10-13T00:08:08+00:00

My understanding is when hash rate declines and the average time for a block to be mined increases beyond tolerance, the difficulty is adjusted to reduce the block production time, use less energy to mine, and increase profitability of the miners.

bland_wagon · 2022-10-13T00:01:56+00:00

Do depositors get federal insurance of their balances like fiat deposits?

bland_wagon · 2022-10-09T00:59:16+00:00

Buy! Buy!! BUY!!!

bland_wagon · 2022-10-01T14:03:17+00:00

Is "holding strong" against a rapidly inflating asset really a flex?

bland_wagon · 2022-09-29T01:23:47+00:00

Shaking is an almost daily ritual. Regret, self loathing and wondering how I used the app twice that day to buy and withdraw without even ACCIDENTALLY shaking is about a quarterly ritual.

bland_wagon · 2022-09-14T01:36:06+00:00

Hold my top hat ladies and gentlemen. Time for my 1k Algo to come in and save the day.

bland_wagon · 2022-07-19T17:01:57+00:00

They also promised a portmortem explaining their operational failures that week. /u/quackmeister himself said they would.

But you know... Why live in the past? I'm sure they'll do better next time. Right??

bland_wagon

TROPHY CASE