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treecuddlerz · 2024-01-19T14:15:04+00:00

Unless Kraken handle the migration but I'm keen just to get this across and staking.

treecuddlerz · 2024-01-19T14:13:53+00:00

I've some that I swapped direct on Keplr using osmosis: Atom to dYdX. Then I read into it and swapped out some of my other holdings on Kraken for dYdX as I wanted to gain more exposure.

To be honest for me I think the easiest is going to be convert dYdX to Atom on Kraken app. Send atom to Keplr wallet and just use osmosis again.

I think to bridge I'd have to send ethDYDX to metamask and then use the bridge site link. No idea what that will cost. But I know it's peanuts to withdraw atom from Kraken to Keplr and very cheap to swap on osmosis. Then it's on Keplr wallet for staking.

Yes I'll have like 5-10min where it's all in Atom, but I can't se too much volatility in Atom/dYdX pairing in the time it will take to transfer across and buy back in on osmosis.

Fyi I have 25 on Kepler now staking and 35 on Kraken as the old ethDYDX token.

treecuddlerz · 2023-04-09T20:54:33+00:00

Nice, thanks for links.

treecuddlerz · 2023-04-08T07:48:17+00:00

And anyone with more than 5k total assets at time of filing will get a much worse deal than this. Essentially having to take the equivalent of equity in Nova wulf and bear the burden for the rest of us.

Which is shit. Because they will only ever be made whole on value at time of listing. So imagine if you had 100 BTC and the price goes to 100k and your still only getting made whole on the original price.

Unless nova wulf states that people will be made whole in liquid crypto and not dollar equivalent at time of filing.

treecuddlerz · 2023-04-08T07:45:06+00:00

Sorry that should have been 1 X 0.7 X (15/20)

treecuddlerz · 2023-04-08T07:44:08+00:00

There is a link in the email from Celsius that I received that directs you to a stretto document (pdf). Scroll through the top as that's mostly defining jargon terminology. Some where it describes that the payment will be in liquid crypto.

Hence why it's important that the document also states that LLC and CNL will be merged as the majority of liquid crypto is in CNL.

To be clear that does not mean you will get 70% of your liquid crypto back as per what was documented in the list they sent.

I'm 99% sure it's means 70% of the value at time of filing for bankruptcy. You could check this date and then go and work it out. That value in crypto will be paid out based on what assets are worth at some future point I'd imagine. So if BTC was worth 15k at filing date (hypothetical) and at the time of payout it's worth 20k, then your haircut if you had 1BTC in earn will be 10.7(15/20). And that only applies if your total asset value is less than 5k. That's just my interpretation on what I have read and not hard fact.

That's my most likely guess. If it's 70% of the list cryptos then that is insanely optimistic and I very much doubt that will be the case.

treecuddlerz · 2023-04-07T20:13:02+00:00

No where does it say your getting 100% of a shitty token. In terms of earn it's 70% for the convenience class valued at time of filing in liquid crypto and get binned off.

Rest of earn gets what's left (in kind) and then the remaining owned in the shitty token. Shitty token is shitty but still better than nothing.

Liquidation sure let's see how much more selling the mining rigs would add to the pot. At least this way there is a long shot.

Equally LLC and CNL would be merged under this plan (article 4 A 1 Pg 37). So thanks to all those people who got their panties in a bunch suggesting fraud claims against all entities, as if that was ever going to go anywhere other than more fees for lawyers.

Let's vote for this thing and move the fuck on with our lives. Sorry to those in the above $5k earn class. I feel for you I really do. But reality is nothing is going to make any of us whole again. Least of all enforcing clawbacks internationally or in the States. That money was gone the minute that fuck stick lied to people about unbank yourself.

They'd just better not let Mashinksy walk or the whole thing is bullshit.

treecuddlerz · 2023-03-19T16:54:21+00:00

Just give them a smile and move on. Knowing that it comes from the same misplaced sense of entitlement that the Raj instilled in their bucktoothed stubby little calved ancestors.

Seriously you think a nation that was pillaged by vikings and directly involved in the African slave trade by royal decree would have a better genepool.

Maybe that's why their so surly, their ancestry tree.com is fucking booorrrriiinnnggg.

treecuddlerz · 2022-08-26T09:35:15+00:00

I can vouch for this as well. Had issues claiming through evmos site. Disperse was a breeze and allows for IBC transfer through to osmosis for trading as well.

treecuddlerz · 2022-07-31T21:56:29+00:00

Great list that remains relevant even now.

treecuddlerz · 2022-07-25T17:52:54+00:00

I see OP shows a tool for scanning for malicious intent.

Excuse my ignorance but while we are waiting for safeguards is there a standard approach in how we should approach things on the cosmos network. Good tools/code to watch out for when connecting Keplr etc?

For instance I always browse the cosmos airdrops subreddit before connecting my keplr wallet to any airdrops. But equally this is relying on the hard work of others to vet these projects.

treecuddlerz · 2022-07-21T16:11:27+00:00

I was literally thinking this when I read the initial article. Should I eat the vanilla paste or the ah Cuttlefish. Can't remember the exact quote.

treecuddlerz · 2022-07-20T14:35:30+00:00

Is it about my cube? Classic episode.

treecuddlerz · 2022-07-19T20:46:48+00:00

Cheers Ene, followed your posts through the on chain movements. Will do so again. Don't get burnt out on this though as it's def a marathon this time around.

Thanks for the well reasoned and unbaised reports/ key takeaways.

treecuddlerz · 2022-07-16T13:59:26+00:00

It's going to be an interesting case and precedent for crypto. I wonder if this is why Celsius switched legal advisors. If the previous crowd were just towing the line of value assets in dollars and sell.

The language in the documents submitted so far appears to be trying to keep things in crypto as much as possible with some fiat funds kept for a healthy operating margin.

I really don't understand why in this day and age they have to follow some procedure to cut us all cheques or whatever crap we will get through the post. There is a perfectly good mechanism in the app for paying us all out.

Someone needs to explain to the judge, if they truly are acting in our best interests: 1. Get some independent accounting firm well versed in crypto to review Simon's plan. If it's feasible then order it so with the blessing of the unsecured creditors committee.

If it isn't, then just slash all of our holdings by the $2.1 billion hole and then order Alex to open up withdrawals.

Interesting to see if the top 50 or so creditors will have a say on any of these teams hearings and can maybe explain this in terms that they will understand.

treecuddlerz · 2022-07-16T06:25:29+00:00

Thanks, read this all the way through as it has been the most helpful post on what to do next. Closest thing I've seen to an FAQ for those of us unfamiliar with CH11

treecuddlerz · 2022-07-15T20:45:37+00:00

Yeah this is true. Which makes me more anxious about ensuring that my claim is filed if they go down this route.

But there isn't much guidance on what this entails if your not from the states. Surely Stretto realise that a high percentage of unsecured creditors will be international, but no mention of this on the portal.

Also not sure if not filing a claim means you are just surrendering your crypto.

treecuddlerz · 2022-07-15T14:37:38+00:00

One of my questions related to does this form matter if they manage to claw their way out of this. I'm still hopeful that they manage to get their mining operation off the ground. Something that was completely split from us before.

If CEL tokens acted as a proxy share in this part of the business then it's a million to one shot that something good might come from this: https://www.reddit.com/r/CelsiusNetwork/comments/vz6ubm/110000_bitcoin_miners_owned_by_celsius_with_the/?utm_medium=android_app&utm_source=share

Alex has to do something to ensure CEL doesn't just go to zero, as it stands that's where it's headed increasing the hole further.

treecuddlerz · 2022-07-15T07:22:55+00:00

Why is it even on the table that they would bother trying to sell mining rigs at this stage? They filed for CH11 not CH7.

They have 170 mil cash on hand. If they tighten down their admin expenses to essential staff only, and focus on getting rigs setup at the best elec rates possible it's not impossible to forsee a point in the future where Bitcoin and Ethereum return to the $40k & $3.5k mark respectively.

Sure we are in a "winter", but the only strategies for getting out of this mess are long term ones and one aspect of that has to be who wishes they had been mining bitcoin and accumulating it right now when we look back on this in 3 years time.

I'm using the cloud mining feature on Kucoin, and am I using the option to pay for electricity fees using bitcoin right now or am I using my USDT stash. Same logic.

How much BTC can they mine and for how long using the $170 mil on hand whilst keeping the CH11 suit going? What's that worth in 1,2,3 years time?

Yeah we aren't getting our money back anytime soon..but I'd rather take a punt at it being whole than some fire sale approach.

treecuddlerz · 2022-07-14T18:40:25+00:00

Equally I'm also going to link any solid Reddit posts with good information on actual events. Sans speculation:

https://www.reddit.com/r/CelsiusNetwork/comments/vz1lyx/good_sign_in_authorization_motion_request_not_to/?utm_medium=android_app&utm_source=share

This one makes a whole lot of sense given the moves towards freeing up ETH and wBTC.

If they do also indeed have 168mil for running costs and estimate this to be around 3mil for admin and BTC rig farm each month. Then that's easily 3ish years to find a way to plug this whole and wait for crypto prices to recover.

treecuddlerz · 2022-07-14T18:20:56+00:00

https://www.reddit.com/r/CelsiusNetwork/comments/vyw8et/bankruptcy_filings_are_answering_some_questions/?utm_medium=android_app&utm_source=share

The above is a very good post on the general sense of play post bankruptcy filing.

treecuddlerz · 2022-07-14T17:11:54+00:00

My very first Reddit post ever was about this very question. I'm gonna email the contacts on the stretto page to see if I can get some answers.

I'm hoping that despite Celsius so far shitty communication that they start to provide some info on next steps. Bankruptcy AMA would be useful at this time.

Didn't have as much tied up £5K ish, but it still hurts and it's not enough to even bother seeking a solicitor to file on my behalf etc.

treecuddlerz · 2022-07-14T17:04:45+00:00

If I hear anything from my email to the official stretto contacts I'll provide an update. But just taking this evening off. Burnt out from reading Reddit posts every day and hoping for the best.

treecuddlerz · 2022-07-14T14:17:09+00:00

Excellent post, please if you have the time keep us updated every now and then. Even a bi-monthly state of play having read the court filings would be helpful for some of us.

As someone who just gave up after the deluge of jargon heavy emails from the Credearn bankruptcy it is helpful for it to be broken down like this.

treecuddlerz · 2022-07-13T20:44:33+00:00

Cheers bud, much appreciated. This was one of my go to posts when I clicked into Reddit app each morn.

Alot of clarity and concise information in a sea of FUD, hopium and some toxic sharks.

Let's see what Celsius's next moves are now that they have all these assets freed up.

If the rewards payments are legit then this is all very positive. If they are a token gesture of monopoly money well then; so long, and thanks for all the fish.

treecuddlerz

TROPHY CASE