%% HEARD on talk radio\ Crown Financial usually has good finance hints, not all the time LOL. Noted some could put 1% in crypto cr*p..... + lose 90% LOL ;could lose 100% the way bit con is going LOL
Might be a chance to buy crypto at WAAAAAY lower prices. BTC has had a few spectacular declines before only to rise again to greater glory.
%% LOL\ I have enough chicken cr#p left over from last year.; i do find a use for chicken cr*p\ good tomato food\ apple orchard food.............................................
That makes sense. "Last year's chicken crap" has substance... and no matter what anyone thinks of it, still has intrinsic worth.
When prices get waaaay cheap, you might speculate by taking some of your "chicken crap substance" and putting it on crypto. That seems a most logical and prophetic risk/reward play. IOW... (1) Cash in your chicken crap, (2) invest in crypto at ultra-low prices, and (3) become a $BILLIONAIRE! Your story would surely make the cover of People Magazine, don't you think? (I'm picturing your joyous face on the cover under the caption, "I traded my chicken shit for $Billions... you can too".) Crackin' me up!
%% LOL markets have gotten so complex \ difficult some times I read in my banker Dad's book, about chicken Cr@p+ related . Related?? WMT sells bull cr$p in 50pound bags; and for those that dont want to be that big of a bag holder, LOL local Cash Savers Store sells bull cr#p in 40 # bags. Most likley \another reason bitcon + related goes down
I was wondering what chicken crap actually sold for... Are there "grades" of chicken crap? Better crap sells for more than crappier crap?
%% I get mine free, my hens dont charge me anything , when i had them last year. Actually its easy to get ''burned '' on wet fertilizer\LOL BIG market in AR\ $8 @ ton\assume its dry\LOL Transportation extra/spreading extra/......... I think perhaps the [garden] best is bat cr@p;AMZN sells 4 oz for $11.71 Bit con maybe correlated to bat cr@p.
Copy Link Markets Finance Celsius Is Crashing, and Crypto Investors Are Spooked Lookng back, it seems too good to be true.’ People with Celsius accounts are no longer able to withdraw their money. Celsius chief executive Alex Mashinsky criticized banks for paying low interest rates to clients, favoring T-shirts that underscored his message. Photo: Sportsfile for Web Summit via Getty Images By Gregory Zuckerman , Vicky Ge Huang and Hardika Singh June 16, 2022 5:30 am ET Print Text 239 A few months ago, Mike Washburn’s cryptocurrency investment looked like a winner. Now he’s just hoping to get his money back. SHARE YOUR THOUGHTS What’s your outlook on crypto investments? Join the conversation below. Mr. Washburn, a 35-year-old plumber in Otsego, Minn., had $100,000 in an account at Celsius Network LLC, one of the largest lenders in the cryptocurrency world. Recently widowed, Mr. Washburn said he and his two children moved in with his parents, and he planned to buy a house with his savings. The Celsius account offered him yield higher than would a traditional bank account, and the company was well-known in the crypto community. On Sunday evening, though, Celsius said it was no longer allowing customers to withdraw cash from their accounts. On Tuesday night, The Wall Street Journal reported that Celsius hired restructuring attorneys to help handle its mounting financial problems. Now, Mr. Washburn is anxiously waiting to hear what happens to his account. “If I don’t ever see that money again, it will set me and my children back by years,” Mr. Washburn said. “Deep down I don’t believe there’s going to be a good outcome, but I hope I’m wrong,” he said. Prices for bitcoin and other cryptocurrencies have been plummeting as interest rates rise and risky assets turn unpopular. The difficult market is forcing once-highflying digital-currency companies to slash jobs, halt mergers and bar clients from withdrawing digital investments, shocking investors. Dec. 2021'22-80-60-40-200%BitcoinEthereum Individual investors might not have realized when they put money in Celsius that they were giving the company an unsecured loan with little legal protection. Crypto companies such as Celsius look like banks in some ways, but they lack the investor oversight and legal protections built into banks and brokerages. In a blog post Sunday evening, Celsius said it was pausing all withdrawals, swaps and transfers between accounts, citing “extreme market conditions.” The move froze $11.8 billion in customer assets, based on the company’s May report. On Wednesday afternoon, the assets were still frozen, and Celsius founder and chief executive Alex Mashinsky tweeted that the firm was “working nonstop” on the issue. It is one of dozens of unregulated lenders that have emerged in recent years promising high returns to investors willing to lend their digital assets. Celsius, which claims about 1.7 million customers, paid customers annual percentage yields of up to 18.6% on cryptocurrency deposits. Higher interest rates were available to those willing to accept payment in Celsius’s own CEL token. Mr. Mashinsky launched the company in 2017, marketing Celsius as a safe alternative to banks. The Ukrainian-born Mr. Mashinsky criticized banks for paying puny interest rates to clients, favoring T-shirts that underscored his message, including one that read, “Banks are not your friends.” Like other lenders, Celsius accepted customer deposits of cryptocurrencies and lent them to other users, including market makers and exchanges, to earn a return. Celsius also puts customer deposits in high-yield, high-risk decentralized-finance investments. How Celsius’s crypto lending process works: Celsius puts customer deposits in decentralized finance investments and lends out funds to other users (including to exchanges and market makers). CELSIUS Customer Yield Customers lend money to Celsius in exchange for yield.(This is essentially an unsecured loan). Celsius earns a return from borrowers and investments. Source: News reports Celsius faced a challenge, however, in earning a return above the yield promised to clients while still allowing them to promptly withdraw their crypto investments. Celsius placed at least $470 million in an investment that had plunged in value, according to blockchain data and a person familiar with the matter. The terms of the investment product, managed by Lido Finance, prohibit Celsius from quickly removing its assets, adding to the difficulties. Vasiliy Shapovalov, a Lido developer, said he didn’t think the token was very risky. Celsius accepted ether from clients and used it to buy at least 409,000 “Lido staked ether” tokens, according to the person familiar with matter and blockchain data, that it in turn lent out to earn a high return. Historically, such tokens have had roughly the same value as ether because they represent the ether being used on the Ethereum platform to process transactions and maintain chain security. Celsius can’t exchange its staked ether holdings for ether until Ethereum makes the transition to its “proof of stake” model, but a deadline for that move has been consistently pushed back. Lately, though, Lido-staked ether has been trading at a discount of about 5%, according to analytics company Dune Analytics. The decoupling began when cryptocurrency TerraUSD recently collapsed, motivating investors to pull out of the most speculative assets. The fall in value in these tokens has presented a problem for Celsius. If its clients were to withdraw ether deposits en masse, the company would have to sell its staked ether holdings at a substantial loss. Celsius’s fortunes seemed to shift quickly. On Friday, the company said it hadn’t had any issues meeting withdrawal requests and that it held “more than enough” ether to meet obligations. Matt Novak, 35, of Sacramento, Calif., first became concerned over the weekend when he had trouble logging into his Celsius account. He tried again a few hours later with no luck. Wall Street Has Been Betting Billions on Crypto. Here’s Why. You may also like Wall Street Has Been Betting Billions on Crypto. Here’s Why.Play video: Wall Street Has Been Betting Billions on Crypto. Here’s Why. WSJ’s Dion Rabouin explains why Wall Street is now betting big on crypto and what that means for the new asset class and its future. Photo composite: Elizabeth Smelov Mr. Novak said his crypto investments in his Celsius account, about 5% in bitcoin and the rest in the cryptocurrency Polygon, represented about 60% of his retirement funds. They were worth about $93,000 early last week but were down to about $28,000 earlier this week, he said. Mr. Novak, who runs a mortgage-marketing firm, said he was attracted by the 17.5% rate of return offered on his Polygon deposits at Celsius at that time. Before this week’s crypto meltdown he estimated he had gained at least 50% on his initial investment. “Looking back, it seems too good to be true,” he said. Celsius’s decision to freeze accounts sparked nervousness throughout the crypto world, helping to send bitcoin and ether down about 15% on Monday. The digital assets are down 53% and 68% in the past year to date. “Halting customer withdrawals is a huge deal,” says Matthew Sigel, the head of digital assets research at Van Eck Associates, which manages three crypto funds. “It’s testing the market.” Newsletter Sign-up Markets A pre-markets primer packed with news, trends and ideas. Plus, up-to-the-minute market data. SUBSCRIBE Individual investors in other cryptocurrencies are feeling their own pressures as prices fall, with some receiving margin calls to provide more collateral for their leveraged digital-currency trades. On Tuesday, data provider CoinGlass said about $690 million of collateral pledged by about 160,223 retail traders had been liquidated over the previous 24 hours. By Tuesday, Celsius’ CEL token had fallen 81% in the year to date, according to crypto research firm Messari. When the token was falling on Friday, Celsius said “the price of CEL is very often affected by market factors that are not related to the company’s performance.” Later that day, news broke that Celsius hired restructuring attorneys from law firm Akin Gump Strauss Hauer & Feld LLP to look for possible financing options from investors and other strategic alternatives, including a financial restructuring. Securities held for customers by a registered brokerage, like Fidelity Investments, can’t be touched in bankruptcy proceedings. Celsius isn’t a registered brokerage, though. Securities and Exchange Commission Chairman Gary Gensler has warned that investors who own cryptocurrency through trading platforms like the largest U.S. crypto exchange, Coinbase Global Inc., aren’t protected the same way they would be if they invested through a registered brokerage. In March, the SEC released guidelines instructing publicly traded crypto firms to record the digital tokens they hold for customers as assets and their obligation to the customers as liabilities. In April, Celsius stopped offering the products to “nonaccredited” investors, or those who don’t meet a certain wealth threshold, after being pressed by regulators. In May, Coinbase said customers might lose access to their digital assets held on the exchange if the company ever goes bankrupt. The biggest uncertainty facing the crypto industry is whether digital tokens are securities like stocks and bonds. The question is being fought out in court. Some of the larger, high-profile investors and crypto founders had been selling their investments over the past year, locking in profits well ahead of the recent selloff. Billionaire Mike Novogratz’s Galaxy Digital Holdings Ltd , has been a seller of various cryptocurrencies, according to company filings and people close to the matter. Earlier this year, Mr. Novogratz got a tattoo on his biceps of the cryptocurrency Luna and spoke positively of various cryptocurrencies at industry events. In recent days, digital-currency and blockchain companies have been laying off employees. On Monday, crypto lender BlockFi said it was reducing head count by about 20%. On Tuesday, Coinbase said it was cutting almost a fifth of its staff because the company had grown too quickly and a potential recession “could lead to another crypto winter.” Four top Coinbase officials have collectively pocketed more than $1 billion by selling shares since the cryptocurrency exchange’s public listing in Spring 2021. So far this year, the company’s shares have declined 78%.