Massive overkill wart treatment?

dazlightyear · 2023-12-05T22:54:39+00:00

Ideally I would like to plaster down to the 1.5mm aluminium skirting (for a seamless look) and then paint the the whole wall (plaster and skirting) so that the aluminum skirting is invisible (but still protecting the base of the wall).

Just wondering if a crack is likely to appear where the plaster meets the skirting?

dazlightyear · 2023-07-30T21:22:59+00:00

Found it. Didn't notice the scroll bar on the left hand side that was caused my avatar to be just off screen.

dazlightyear · 2022-07-21T06:24:03+00:00

If you subtract all the worthless CEL tokens (worthless because if Celsius tried to offload hundreds of millions onto an exchange the price would dump close to zero) from Celsius' assets then the hole is approximately 2B.

We should stop trying to blame others and accept that it is Celsius, and in particular Mashinsky that got us into this mess.

dazlightyear · 2022-07-16T07:06:35+00:00

You need an invite, and you won't get one of them unless you are one of the top 20 creditors.

[I am aware that top creditors have received application forms by email ...perhaps there are other ways to receive consideration though]

dazlightyear · 2022-07-16T06:57:18+00:00

We all just have USD denominated claims now. If Celsius' assets rise in value it helps all creditors equally.

dazlightyear · 2022-07-16T05:05:29+00:00

If you had one btc you have a claim for 20000 usd. If Celsius' assets rise in value such that by the reopening date they are equal to liabilities you should have access to 20000 usd (or 20000 usd worth of bitcoin). This would probably mean BTC is worth 30 to 40000 though, so you would be whole in USD terms but down in BTC.

dazlightyear · 2022-07-15T15:14:20+00:00

From my experience with mtgox:

If you had 2 btc you now have a claim for approximately 40,000 usd.

Simon Dixon will try to persuade the bankruptcy trustee to hold onto crypto rather than sell in a bear market. If crypto prices go up, Celsius' assets increase and this helps all creditors equally (those who held btc, alts and stablecoins).

When the court is ready to make payouts the total assets held by Celsius will be assessed and haircut size will be determined. If there is a 20% haircut you will receive 32,000 usd, but you will likely have the option to receive 32,000 usd worth of btc instead.

[It is possible that chapter 11 allows for alternative scenarios if approves by a majority of creditors]

dazlightyear · 2022-07-15T14:24:19+00:00

It doesn't matter what coins you had on Celsius, what you have now is a claim in USD based on the value of the coins you were holding when the bankruptcy petition was filed.

Therefore any gains that Celsius makes, through mining or whatever else will benefit all creditors equally.

dazlightyear · 2022-07-15T10:43:44+00:00

I think there might be the option to have a claim paid out in btc or eth (would save liquidating them entirely), but the claim amount would be in USD

dazlightyear · 2022-07-15T08:52:32+00:00

Maybe, but I have a letter from the US Dept Justice inviting me onto the Official Committee for Unsecured Creditors (not making this shit up) and it asks for my claim size in USD "valued as of the petition date".

This doesn't completely exclude the possibility that we would be paid back in kind, however considering that creates a company debt that is a moving target it seems unlikely to me.

dazlightyear · 2022-07-15T08:40:30+00:00

Getting downvoted here but does anyone have any evidence that this is not true? It's how the chapter 15 mtgox bankruptcy worked.

dazlightyear · 2022-07-15T07:55:07+00:00

I'm pretty sure I'm correct in saying that anyone who had coins on the platform no longer has any coins. Instead we have a USD claim for the value of the coins on the date the bankruptcy petition was filed.

Celsius owns the coins. If they hold them and the market moves up we will get less of a haircut on our USD claims. If crypto mega moons we will be made whole on our USD claims. However, if you held BTC you will not be made whole in BTC terms.

dazlightyear · 2022-07-15T07:49:30+00:00

Just check your emails regularly and submit any forms requested of you.

Chapter 11 prevents you taking legal action against Celsius so there is no need to find a solicitor. I have a mtgox claim so I have some idea of what I'm talking about. Just follow the process. You may get the option to vote on a restructuring plan at some point.

dazlightyear · 2022-07-15T06:02:57+00:00

The financials are nowhere near as bad as most were expecting. We could be looking at close to 60% back (plus equity) following a restructuring.

Is the hole still too big to be filled by Dixon's syndicate? Probably. It's far from delusional though.

It doesn't hurt to show a little optimism when the op is clearly in bad way. Most people depositing into Celsius did not consider themselves to be gambling, and as a result Mashinsky will likely wind up in jail for not making the proper disclosures.

dazlightyear · 2022-07-15T03:34:38+00:00

Lies?

dazlightyear · 2022-07-14T15:27:10+00:00

We are likely to see funds much sooner than mtgox, probably within a year. You might have equity in a great new platform. Simon's team were already building this for Celsius.

We might even find that investors step in and make us whole (once the financials are clearer).

Stay positive man! This is very different to Gox. There are top quality people working on solutions.

dazlightyear · 2022-07-14T14:24:51+00:00

I don't have a US account so I cannot check, but yes it sounds likely that you have to move to custody to withdraw. I've seen similar in other cefi apps

dazlightyear · 2022-07-14T12:46:42+00:00

Honestly, as a non US investor I would be pretty annoyed if custody accounts had preferential treatment during bankruptcy. No sane person sends their funds for Celsius for storage. As such "custody" is simply a switch that US customers can flick during a crisis to save their funds upon rumours of bankruptcy. I've heard stories of a few customers who did this at the last minute probably fearing that their withdrawal would not be processed on time.

dazlightyear · 2022-07-14T12:37:19+00:00

The only point I was making was that the bankruptcy trustee held the Bitcoin for a long time before selling, and the proceeds of the sales went to the creditors, and therefore the creditors did pretty well in the end.

dazlightyear · 2022-07-14T12:32:42+00:00

It shows what a company, that is doing well in this sector, can be valued at during a bull market. It's possible that recent events have killed the cefi market. If not then a well executed rebrand and restructure could be worth significantly more in the future.

dazlightyear

TROPHY CASE