Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers

Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by sgammon on Friday October 07, 2022 @08:00PM (#33128462)

i suppose i thought you meant insurance against theft, not loss of value

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Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by tekknik on Sunday October 09, 2022 @02:20AM (#33138677)

theft is loss of value. either way the fact remains, Bitcoin is difficult to insure due to its scarcity. If I insure 1 BTC now worth $10k then in 20 years or so (or maybe overnight) it jumps to $1mil. The insurance company hasn’t gotten enough premiums to cover the payout. Insurance works well for inflating assets, not so much for deflating.

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Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by sgammon on Wednesday October 12, 2022 @04:22PM (#33182531)

you don't actually need to lose your coins for them to lose value... custody and value aren't the same thing.

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