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Doesn't say how much of their own money they'll risk.
They're risking their name, for a start.
Earlier quoted context omitted.
That must be why violent acts never happen. Go figure.
Economists figured this out long ago. Every person is 100% efficient and rational, and this is why we can predict the future.
Like the weather system, every molecule of air and water behaves "deterministically". And yet, we can predict no more than a few days, may be a few weeks at most, with any real accuracy. This is the hallmark of a chaotic system (aka the error in prediction grows exponentially).
Honestly I am surprised we are not seeing violent acts against people running these companies (Celsius, terra, etc). I would be beyond furious if I couldn't withdraw my assets from this scam.
Losing money in cryptocurrency is a first-world problem, no one is going to commit violent acts over losing their side/play money.
What sort of assets? Why wouldn't investors just buy the same assets from an exchange?
Honestly I am surprised we are not seeing violent acts against people running these companies (Celsius, terra, etc). I would be beyond furious if I couldn't withdraw my assets from this scam.
There is a really disturbing trend nowadays where people are casually advocating for violence. This is one of those examples. Violence is never okay.
If Goldman are raising money from investors it's probably because they think they can charge those investors for advising on and structuring a deal. It doesn't mean Goldman are buying Celsius. It's only a vote of confidence in Celsius to the extent that it means Goldman think they can find people who want to buy it and who will pay an investment bank to do so.
They are raising money for liquidation, they will pay back users a fraction of what they originally deposited, and then play with some rows on an excel spreadsheet and walk with millions. Celsius can't go back live because the bank run would destroy the entire thing just like with Terra.
They seem to have completely different mechanics, aside from failing within a month of each other there is almost no other mechanical similarity between these situations.
It's taken me a while to understand this but a very common cycle for tech is: 1)Startup founder gets and idea and develops it. 2)The startup develops the tech and finds a market for it 3)The Startup becomes successful 4)The market falls apart and the founder can't guide the startup thru the difficulties 5)Start up is in distress or fails 6)An MBA type comes along buys everything at a deep discount 7)The new manager r…
Honestly I am surprised we are not seeing violent acts against people running these companies (Celsius, terra, etc). I would be beyond furious if I couldn't withdraw my assets from this scam.
Let's flip the question: what reasons do you have to expect "violent acts against people running these companies"? Sure, you have a bunch of people that are angry, but makes you think they're angry enough to follow through with the plan? Was there a spree of violence against bankers in 2007/2008?
Earlier quoted context omitted.
They're risking their name, for a start.
The good name of Goldman Sachs, lol. The only people who don't find the vampire squid's name toxic, are those who only care about money to the point that these sorts of things never would have bothered them.
https://en.wikipedia.org/wiki/Goldman_Sachs_controversies
So, no, there is no "only care about money" exception for distrusting them.
Interestingly, in 2008 there was somebody recommending their clients buy shares that they were selling themselves. I misremembered and looks like it wasn't them. Now I'm curious what investment bank was it.
It's taken me a while to understand this but a very common cycle for tech is: 1)Startup founder gets and idea and develops it. 2)The startup develops the tech and finds a market for it 3)The Startup becomes successful 4)The market falls apart and the founder can't guide the startup thru the difficulties 5)Start up is in distress or fails 6)An MBA type comes along buys everything at a deep discount 7)The new manager r…
Celsius founders are doing juuusst fine