Major crypto lender Celsius freezes withdrawals as markets tumble

Re:Major crypto lender Celsius freezes withdrawals as market... by cryptoanon on Monday June 13, 2022 @10:17AM (#31725939)

This is a disingenuous argument because you pretend like gold has no downsides. The major, and very real downside of gold is that it's costly to store. The risk of confiscation is high unless you protect yourself with weapons. (And, in that case, doesn't that make weapons more valuable?)

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Re:Major crypto lender Celsius freezes withdrawals as market... by gonzo41 on Monday June 13, 2022 @10:49AM (#31726370)

I'm not saying that gold is magic, I'm just pointing out it has utility beyond it's value holding utility.

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Re:Major crypto lender Celsius freezes withdrawals as market... by jjav on Monday June 13, 2022 @02:09PM (#31729169)

> The risk of confiscation is high

If that's your worry (and not that you shouldn't), consider that the risk of confiscation of your bank balance or stock accounts is far higher given that those are merely entries in a database held by a third party.

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Re:Major crypto lender Celsius freezes withdrawals as market... by malfist on Monday June 13, 2022 @10:53AM (#31726443)

And historically, that was the case for all wealth stores, at least ones you could spend.

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Re:Major crypto lender Celsius freezes withdrawals as market... by dragontamer on Monday June 13, 2022 @02:25PM (#31729388)

> The risk of confiscation is high

I got a buddy with a bunch of money in Celsius right now, that feels like its been confiscated.

Apparently, cryptocoins can also be "confiscated", and are unable to be sold during these times of duress.

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