Item — HN Reader

I kept a lot of money on them in 2021; was nice getting $1-2k/wk in "free money". I knew the risks, and have worked in the industry since before it was an industry, so no excuses.

I pulled all my money from them (except $600 or so in dust) on Thanksgiving 2021. Thankful to (God? my minimally sufficient sense of self preservation finally kicking in?) for timing; and to their credit, it was a flawless withdrawal.

But yeah; inevitable things happen, just often takes longer than one would expect.

1 comments

So you’re saying you knew it was an “inevitable” scam, and you’re happy that you were able to withdraw your earnings before a massive crash?

I’m not surprised, I hear this exact thought process from a lot of crypto maximalists.

I get the sense that his post was mostly just an excuse to flex on his gains

Celsius specifically; they were offering an income return for holding crypto (during a period of crypto appreciation), and the income was nice but ultimately not worth the principal risk. It was a long enough running business, with track record of allowing withdrawals, that the perceived risk wasn't as high as the real risk.

What makes it an inevitable scam? People have a weird perspective on cryptocurrencies. I know that some people hold the belief that if they put some money in then if they get lucky they will be able to withdraw 10% of that, but I believe that it really is not what it is about. Welp.