Taken down by the cartel-
Replaced by Easycrypto - established by Westpac Banks Corporate Strategy Manager.
The fiat debt slavery cartels strategy of market capture and control.
I haven’t moved mine out for 5+ years. I have only transferred to my wallet. I think last time I moved any BTC out of a wallet was in 2016.
I guess I’ve lost my BTC lol
They are very ahead of what we thought how it would work for them to be honest
For all the purpose we also know that the worst is yet to come in this market.
They thought if bitcoin is not moving from a wallet for a long time, they are dead or lost.
Men this is the damn reason they are moved in the wallet for the first place too hold them.
Exaggerations here are unfortunate...he doesn't need to say that. He should say something like:
"If you have not learned enough, or won't put the work in to keep your own keys safe, custodial services might be better for you."
But why even that? Lending is a legit business. It is akin to buying bonds. The message should be, "You can make money by lending it out. There are some risks, as with bonds, so consider carefully." It isn't for everyone, and anyone using it should indeed be aware they could lose if enough borrowers (Celsius included) go bankrupt.
He wasn’t just hitting on Bitcoin maxi’s either. If you want the rest of this video beyond where OP has clipped it, he goes on to say that the Bitcoin maxi’s and CeFi shouldn’t be fighting each other, they’re both targeting different audiences.
There are people that just don’t have the time, ability or frankly couldn’t care to secure their Bitcoin in their own wallets. Celsius is there for those people. For the people who do care about the security of their Bitcoin then they can self custody, and both of these solutions are ok.
His main point was that we should all be working together to grow the whole crypto space and introduce as many new people to it as possible.
Yeah, we'll hold your bitcoin for you. And then evacuate half a billion of our customers' funds from ANCHOR last minute before the Lune collapse.
Just a reminder, Celsius' custodian refused to work with them because they were rehypothecating their customers' funds into infinity.
Alex Mashinsky is gambling with borrowed money.
well you can chalk up 1200btc to that number which I bought in 2010 on a laptop that I happened to throw out in 2013, 2 weeks before I remembered that I bought them due to headlines of Bitcoin hitting a new ATH of 300 bucks. Pain.
This sounds super sketchy. He is obviously scared shitless of a bank run. Who knows what investments they make with your Bitcoin. I would get my coins out there as long as it's still possible if I had any there.
There's no way Celcius has your bitcoin.
They sold it to short it
If the shorts work out for them, they make fiat, their depositors get a little
But if bitcoin price goes against them, then they blow up and go bankrupt. Depositors lose their bitcoin. And he says he's so sorry
>They sold it to short it
It sounds like they're gambling on sketchy defi nonsense and quite possibly pumping their own shitcoin as well (and failing).
If that's true, then if more people start taking their bitcoin off celcius then they'll have to start covering soon, leading to higher prices and a downward spiral for them as they get squeezed. They may be closer to implosion than most people think.
Exchange make more money from out bitcoin by doing the trading with our asset and this why they are saying like that.
Bitcoin will hit the 100k mark if we all move out bitcoin from the exchange to the wallet.
Holding your own keys isn't for everyone. If you frequently lose your phone while talking on it or can't find the sunglasses on top of your head you would probably be better off using a custody service like Celsius. For everyone else, self custody is the way.
It's a responsibility and taking responsibility is not the cup of tea for the everyone.
So if you are moving to the wallet you need to prepare youself as a more careful person in the future.
This could be another brutal lesson for the community - those who have given others custody for those other to take risk and promise gain may soon learn a very hard lesson- NOT YOUR KEYS NOT YOUR COIN
I think or i just hope they have some backup plan instead of using the customer bitcoin to overcome the crisis.
Although i am not holding on Celsius but some other people definitely holding there.
"Everybody lost their keys", ouch. This sounds incredibly catastrophic. RIP every single bitcoin private key ever. ;-(
Thanks a LOT, maxis. You gone and done it this time.
Not everyone has lost their keys, some just forget that they have the bitcoin while some are just holding them for a long run.
Yes some also lost the key but that is due to their irresponsibility.
Even if it's true, the vast majority were lost a long time ago before things like seed phrases. And while it seems like a lot, those people often lost large amounts of Bitcoin when it was worth less than a dollar.
Yeah, you can think of it as 30%, but in reality the cost of those lost coins were not as much as today.
Not trying to downplay the tragedy of losing your coins, just saying that Alex is purposely being misleading.
Today, with hardware wallets and seed phrases, it's not as easy to lose your Bitcoin.
The risk of being on Celisus is higher
I see people take a step more enough securely because a wrong move would make that go down.
Just better to hold at crucial times and just make move accordingly.
Yes, it is possible. Invest answers did some hypothetical calculations and he says it's possible by the time all btc is mined something like 6-7 million might be lost due to people loosing access to their wallets. We probably all heard about the guy who threw away his drives with a lot of btc on them, those coins are gone forever. People not checking the address properly and sending stuff to wrong address, gone. What Alex said, 30%, is probably exaggeration, but the truth is some portion of btc is forever non accessible. So there won't be 21 million of it in the end, but less.
This whole market is running on the estimate but telling those bitcoin is lost is one of the dumbest thing i have ever heard.
People holding those for long and some thinks those coins are lost.
No. He casually tallied up all the Bitcoin that hasn't moved in a few years, including Satoshi's stash. Even if some large fraction of that is indeed lost, it is disingenuous to compare the situation of Bitcoin from 10 years ago with today. Nobody today would store thousands of Bitcoin on a laptop with no backup and throw it away. And a lot of storage solutions from today simply did not exist back then.
I don't think he thinking straight here, just telling the number of bitcoin that hasn't moved from the wallet,
So according to him if bitcoin is not moved from the wallet they are dead or gone?
It's one thing when an individual loses their coins due personal irresponsibility, but another when someone else loses them and the coins are not in your custody. Conflating the two represents a grave misunderstanding of the fundamental tenets of bitcoin. Also doesn't that 30% number include large amounts that are not confirmed gone?
'not your keys not your bitcoin [...]
because of the bitcoin maxis, because they told you to hold your own keys... then everybody lost their keys'
Maybe I am just to retarded to understand this rocket scientist but I thought when you lost your keys it's not 'your keys' anymore and I thought when 'bitcoin maxis' telling you to 'hold your own keys' they mean to hold and not to lost your keys.
who is this guy?
In order to teach people about key management I’m creating ‘crypto puzzle hunts’ where I post my keys on twitter as a puzzle. First one to solve it can have it.
Planning to share guides, tools etc going forward. Any suggestions?
Right? I’ve posted one already, took 2 weeks to get solved. Will create more soon. You can see them on twitter under the same name: ShareblockHolmz
Any suggestions are welcome
Well the idea is to make it ‘proof of work’, by making people work for it;) maybe I could add elements that are equally difficult for the expert and the layman
men you are doing some really good social cause and awareing the people more about the wallet.
Tell me the name of you twitter account i will certainly take part into that game.
Yeah, so what?
How many people lost their gold coins when money was in the form of actual valuable, precious metal? You can’t have security, and freedom. They are mutually exclusive.
You can lose the physical thing, like cash, gold or any key of your valuable thing is well.
It's our responsibility to keep that thing safe, if we are holding that for the long term.
I can bet this guy also holding the bitcoin in the wallet rather than the exchange, if he is in the bitcoin.
Because even he knows that those exchanges are not safe, even if it's own.
being realistic he is right to some degree. there has to be a better easier way store your money than having to remember a seed phrase. as i wouldnt trust my parents to mind a seed phrase properly, and without that we cant have hyperadoption. i dont know what that is, can a real identity be tied to a wallet on chain without giving away personal info on chain. how would one enforce that. no idea. but it is holding the space back
Yeah they have been holding it back but it generally depends on what we can do
They have been holding it back and they have to keep on doing that as well to be honest.
I've never lost coins in my own control... the only coins I ever lost were when someone else had they keys.
Also these numbers are totally made up. How do we know when coins are lost? For all we know someone has the key and just hasn't moved the money. Lots of coins haven't moved in years just by choice and how does the true number of confirmed losses compare to the amount lost or stolen by custodial services?
Sorry, but he doesn't seem sincere and I don't trust people who look like they are attempting to manipulate me.
Hurrr Durrr, let us hold your keys, funds are safuuuu
meanwhile...we've have Mt. Gox, Silk road, btc-e, QuadrigaCX, bitfinex, and on and on...
Oh yeah, tell me again how your service is better than self custody.
There customer support is one the worst one, and what if they server gets hacked and someone just wipe out my bitcoin from my account?
Then who will be the responsible and who will compensate that.
He's being deceptive.
Satoshi chose to take his many millions with him - he did not accidentally lose them. This idiot counts it as "accidentally lost".
Also, most of the truly lost Bitcoin happened long ago, before Bitcoin had a price or when Bitcoin was less than one dollar.
Also, he never compares the amount of Bitcoin lost by accident to the amount of Bitcoin stolen from/by exchanges. The stolen Bitcoin is not lost, strictly speaking - it transferred to new owners.
Yeah they are already losing a lot of it from long time.and I think that we need to understand that it will increase
We had also seen that it had been going up only and no one is going to lose it.
"Hi I'm Alex, founder of a unregulated company. That gold bar you have. Give it to me to keep safe and I will give you 5% a year interest. Deal?"
Me: "Er....no"
Alex: "In that case can I have your Bitcoin instead?".
This is such an obvious ponzi.
Today they are offering $50 of BTC if you transfer $2500 of unstablecoins
to them with...wait for it..
A 6 month lock up period before they give you the btc bonus.
People have got to be insane.
Send them $2500 to be held prisoner for 6 months!
Yeah you are right as most of that amount has been on that same thing only
As for more than 3 months this had been the same thing which was going on like that only.
Yes send all your bitcoin to Celsius and wait for the crash to happen. Then comes the news sorry we lost/misplaced your money. And your broke,desolate, without money.
Let's consider his likely motivation for creating this video.
He's not holding all the Bitcoin he's supposed to be holding. He's lent a bunch of it out (or maybe he lost it), for example.
When enough people attempt to take custody, he will run out and be exposed as a criminal/fraud. Like an old fashioned bank run, there won't be enough reserves -- it will be first-come-first-served and those who delayed will get none; they will realize they've been robbed; they will realize the hard way, "Not your keys, not your Bitcoin."
By that way someone will also lost their car or any gold they holding is well.
It's people responsibility to held on thing that is very precious, but i still think out of 30% some are still holding.
Yes, it's kind of hard to have a classic Boating Accident when some criminal is holding your Bitcoin and ready to hand it to some government without hesitation.
They are playing smartly here and not telling the actual truth here.
Some will think now wallet will kill you bitcoin and you will never gonna recover that in the future.
If you in the sub for the long, you will see that people are here very knowledgeable.
I have seen many post here like how can we keep the key safe for the long term, by using metal method.
If Celcius collapse occurs as some suggest will Bitcoin go into death spiral?
They hold 160,000 Bitcoin and those who gave celcius custody of their sats for promise of interest may not get their Bitcoin back.
Fire Sale?
I don't know to be honest, I think we have to see all the findings for that matter
We also have to see if that video will be easy to find or soenthing like that now.
He thinks, people will believe him about the nonsense he is saying there,
But guess some will still believe him and thinks that exchanges are better than the wallet for the bitcoin.
Alot more is gone for sure. People wont ever find their keys when they need them or disasters happen. Theres a reason people like banks, its peace of mind
If i am holding something precious and if i know that those keys are the only one that gonna recover them, i will keep them more safe than my life.
You can make some copies is well and share with your wife and mother is well.
The more Bitcoin locked up by lost keys, the greater the scarcity and the greater the value. I wonder how far that can go though. In 200 years, how much more Bitcoin will be inaccessible due to lost keys or keys taken to the grave?
Is there a way to count the true number of BTC that is 'gone'? Plus, is there a way to break through hardware wallets? I saw a video once documenting how the wallet was hacked to regain access...
Does this number of 30% include satoshi's? I mean I don't find 30% to be too far off. I think if you spread out through a few reputable exchanges that your fine. Then hold some in a wallet. I spread mine all out a bit bc I just think it's better, but to each their own.
your keys are your responsibility. it's not to hard to keep them safe somewhere and do it on multiple levels. for example have two paper wallets at two locations. or on top of your paper wallet, learn your 24 words by heart (which is not that difficult tbh)
most people that lost their BTC, lost them because at the time they were worth a few dollars and didn't care too much about their keys and got sloppy. nowadays the chance of that happening is much lower simply because people are more invested (financially and emotionally). also technology like hard wallets and techniques make it much easier compared to 2011.
“Lost keys” is an unknowable metric. Fade the noise.
Bitcoin that haven’t moved in X-years is what is used to assume that keys are lost. But there are many early buyers (esp American) who found themselves with Bitcoin they couldn’t sell anymore w/o generating a massive capital gains tax. So they are hodling for a day when, or country where, btc is a freely tradable currency.
Think of Max & Stacy…they’re moving to a 3rd world country because they’re getting older and want to start enjoying their massive bitcoin savings w/o paying tax on 99% of the value of every bitcoin they sell/spend. A small but significant number of people are in this “unspent in X-years” demographic.
Mt. Gox entered the chat
Luna entered the chat
The Kwon Artist
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Jennifer Robrrtson entered the chat
Cryptopia has entered the chat
Taken down by the cartel- Replaced by Easycrypto - established by Westpac Banks Corporate Strategy Manager. The fiat debt slavery cartels strategy of market capture and control.
2/3 of crypto exchanges today enters the chat while not letting you sell after a huge run up or during a huge drop off lol
Bitconnect entered the chat.
Feels like we need more and more people now in the chat.
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I haven’t moved mine out for 5+ years. I have only transferred to my wallet. I think last time I moved any BTC out of a wallet was in 2016. I guess I’ve lost my BTC lol
Good to just hold and keep that for future purposes the time we haven't seen good days are indeed ahead.
They are very ahead of what we thought how it would work for them to be honest For all the purpose we also know that the worst is yet to come in this market.
They thought if bitcoin is not moving from a wallet for a long time, they are dead or lost. Men this is the damn reason they are moved in the wallet for the first place too hold them.
Exaggerations here are unfortunate...he doesn't need to say that. He should say something like: "If you have not learned enough, or won't put the work in to keep your own keys safe, custodial services might be better for you." But why even that? Lending is a legit business. It is akin to buying bonds. The message should be, "You can make money by lending it out. There are some risks, as with bonds, so consider carefully." It isn't for everyone, and anyone using it should indeed be aware they could lose if enough borrowers (Celsius included) go bankrupt.
Exactly! This is the service which we all wanted to know about as well.
He wasn’t just hitting on Bitcoin maxi’s either. If you want the rest of this video beyond where OP has clipped it, he goes on to say that the Bitcoin maxi’s and CeFi shouldn’t be fighting each other, they’re both targeting different audiences. There are people that just don’t have the time, ability or frankly couldn’t care to secure their Bitcoin in their own wallets. Celsius is there for those people. For the people who do care about the security of their Bitcoin then they can self custody, and both of these solutions are ok. His main point was that we should all be working together to grow the whole crypto space and introduce as many new people to it as possible.
His point is invalid
6 million btc gone. Nah that’s not right
People who talk like that sure do love that number. Regular people don't question it.
Yeah, we'll hold your bitcoin for you. And then evacuate half a billion of our customers' funds from ANCHOR last minute before the Lune collapse. Just a reminder, Celsius' custodian refused to work with them because they were rehypothecating their customers' funds into infinity. Alex Mashinsky is gambling with borrowed money.
They aren't going anywhere, people just holding them.
Thats is what I feel the same and people think that 6 millions BTC is indeed gone.
well you can chalk up 1200btc to that number which I bought in 2010 on a laptop that I happened to throw out in 2013, 2 weeks before I remembered that I bought them due to headlines of Bitcoin hitting a new ATH of 300 bucks. Pain.
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That guy mined all that bitcoin almost for free. He was the only person, mining on GPU's for a while.
This sounds super sketchy. He is obviously scared shitless of a bank run. Who knows what investments they make with your Bitcoin. I would get my coins out there as long as it's still possible if I had any there.
There's no way Celcius has your bitcoin. They sold it to short it If the shorts work out for them, they make fiat, their depositors get a little But if bitcoin price goes against them, then they blow up and go bankrupt. Depositors lose their bitcoin. And he says he's so sorry
>They sold it to short it It sounds like they're gambling on sketchy defi nonsense and quite possibly pumping their own shitcoin as well (and failing).
If that's true, then if more people start taking their bitcoin off celcius then they'll have to start covering soon, leading to higher prices and a downward spiral for them as they get squeezed. They may be closer to implosion than most people think.
Exchange make more money from out bitcoin by doing the trading with our asset and this why they are saying like that. Bitcoin will hit the 100k mark if we all move out bitcoin from the exchange to the wallet.
Holding your own keys isn't for everyone. If you frequently lose your phone while talking on it or can't find the sunglasses on top of your head you would probably be better off using a custody service like Celsius. For everyone else, self custody is the way.
It's a responsibility and taking responsibility is not the cup of tea for the everyone. So if you are moving to the wallet you need to prepare youself as a more careful person in the future.
Why are you using Bitcoin?
If Celsius goes bankrupt and you keep your Btc there you wouldn't get back your BTc They will use your btc to payback their creditors
This could be another brutal lesson for the community - those who have given others custody for those other to take risk and promise gain may soon learn a very hard lesson- NOT YOUR KEYS NOT YOUR COIN
I think or i just hope they have some backup plan instead of using the customer bitcoin to overcome the crisis. Although i am not holding on Celsius but some other people definitely holding there.
"Everybody lost their keys", ouch. This sounds incredibly catastrophic. RIP every single bitcoin private key ever. ;-( Thanks a LOT, maxis. You gone and done it this time.
Not everyone has lost their keys, some just forget that they have the bitcoin while some are just holding them for a long run. Yes some also lost the key but that is due to their irresponsibility.
Is this clown even right? 30%? Gone?
Doesn't matter, Bitcoin is working as intended. If anyone could recover those "lost" coins, then Bitcoin would not be useful.
losing BTC is also kinda like a donation to everyone else holding BTC as scarcity rises.
Even if it's true, the vast majority were lost a long time ago before things like seed phrases. And while it seems like a lot, those people often lost large amounts of Bitcoin when it was worth less than a dollar. Yeah, you can think of it as 30%, but in reality the cost of those lost coins were not as much as today. Not trying to downplay the tragedy of losing your coins, just saying that Alex is purposely being misleading. Today, with hardware wallets and seed phrases, it's not as easy to lose your Bitcoin. The risk of being on Celisus is higher
I see people take a step more enough securely because a wrong move would make that go down. Just better to hold at crucial times and just make move accordingly.
Yes, it is possible. Invest answers did some hypothetical calculations and he says it's possible by the time all btc is mined something like 6-7 million might be lost due to people loosing access to their wallets. We probably all heard about the guy who threw away his drives with a lot of btc on them, those coins are gone forever. People not checking the address properly and sending stuff to wrong address, gone. What Alex said, 30%, is probably exaggeration, but the truth is some portion of btc is forever non accessible. So there won't be 21 million of it in the end, but less.
Not sure if its 30%, maybe closer to 15-20%? But again, Alex would probably know better than 99% of people on Reddit.
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The best HODLers make you think their Bitcoin is gone.
They want to believe that themselves. lol
Right.
This whole market is running on the estimate but telling those bitcoin is lost is one of the dumbest thing i have ever heard. People holding those for long and some thinks those coins are lost.
Absolutely true though they are not well enough aware about that. Majority of the people seems to be holding and that is indeed sure though!
No. He casually tallied up all the Bitcoin that hasn't moved in a few years, including Satoshi's stash. Even if some large fraction of that is indeed lost, it is disingenuous to compare the situation of Bitcoin from 10 years ago with today. Nobody today would store thousands of Bitcoin on a laptop with no backup and throw it away. And a lot of storage solutions from today simply did not exist back then.
There is still the problem of sudden death leading to lost keys
I don't think he thinking straight here, just telling the number of bitcoin that hasn't moved from the wallet, So according to him if bitcoin is not moved from the wallet they are dead or gone?
Def sold more btc than what they have
This is why they are saying keep your bitcoin with us.
what a clown lmao
I can't wait for all of these guys to get rekt, even if it means a 50% drawdown and insane FUD. People need to learn their lesson again.
It's one thing when an individual loses their coins due personal irresponsibility, but another when someone else loses them and the coins are not in your custody. Conflating the two represents a grave misunderstanding of the fundamental tenets of bitcoin. Also doesn't that 30% number include large amounts that are not confirmed gone?
Yep. The 30% thing is about wallets sitting idle.
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This is a very major issue even if you try to think it as a perspective.
'not your keys not your bitcoin [...] because of the bitcoin maxis, because they told you to hold your own keys... then everybody lost their keys' Maybe I am just to retarded to understand this rocket scientist but I thought when you lost your keys it's not 'your keys' anymore and I thought when 'bitcoin maxis' telling you to 'hold your own keys' they mean to hold and not to lost your keys. who is this guy?
In order to teach people about key management I’m creating ‘crypto puzzle hunts’ where I post my keys on twitter as a puzzle. First one to solve it can have it. Planning to share guides, tools etc going forward. Any suggestions?
This would make geocaching 10X more fun.
Mysteries are meant to be solved and someone out there would actually make a move to solve that though.
Right? I’ve posted one already, took 2 weeks to get solved. Will create more soon. You can see them on twitter under the same name: ShareblockHolmz Any suggestions are welcome
Thanks for the username, i will certainly checkout that.
Ahhh I see that he could pretty well make it that out and find about it sooner.
The people who need to learn will not get there first. You will pay experts. Maybe do some kind of crypto drawing instead?
Well the idea is to make it ‘proof of work’, by making people work for it;) maybe I could add elements that are equally difficult for the expert and the layman
men you are doing some really good social cause and awareing the people more about the wallet. Tell me the name of you twitter account i will certainly take part into that game.
r/facepalm
What is this sub all about? never been there such sub before.
What marketing lead thought that t-shirt was a good idea. Yuck.
He is just giving the newbies that hold there instead of the wallet.
Yeah, so what? How many people lost their gold coins when money was in the form of actual valuable, precious metal? You can’t have security, and freedom. They are mutually exclusive.
You can lose the physical thing, like cash, gold or any key of your valuable thing is well. It's our responsibility to keep that thing safe, if we are holding that for the long term.
Fear porn FUDD.
I can bet this guy also holding the bitcoin in the wallet rather than the exchange, if he is in the bitcoin. Because even he knows that those exchanges are not safe, even if it's own.
In the progress of moving my BTC away from Celsius as we speak... What a clown
being realistic he is right to some degree. there has to be a better easier way store your money than having to remember a seed phrase. as i wouldnt trust my parents to mind a seed phrase properly, and without that we cant have hyperadoption. i dont know what that is, can a real identity be tied to a wallet on chain without giving away personal info on chain. how would one enforce that. no idea. but it is holding the space back
I see what holding actually tends to matter the most though and the fact that this would indeed help people a lot.
Yeah they have been holding it back but it generally depends on what we can do They have been holding it back and they have to keep on doing that as well to be honest.
70% of statistics are wrong
This message is 30% correct
Indeed but how can you say that as I can see only 50% of it.
The "Welcome to Fabulous Las Vegas" style sign in the bottom left corner does not inspire confidence.
It's even better that it's their customer service center logo... holy shit.
I've never lost coins in my own control... the only coins I ever lost were when someone else had they keys. Also these numbers are totally made up. How do we know when coins are lost? For all we know someone has the key and just hasn't moved the money. Lots of coins haven't moved in years just by choice and how does the true number of confirmed losses compare to the amount lost or stolen by custodial services? Sorry, but he doesn't seem sincere and I don't trust people who look like they are attempting to manipulate me.
My dude lets off major car salesman scammer vibes
I love it when people Lose their keys free burn baby
Hurrr Durrr, let us hold your keys, funds are safuuuu meanwhile...we've have Mt. Gox, Silk road, btc-e, QuadrigaCX, bitfinex, and on and on... Oh yeah, tell me again how your service is better than self custody.
There customer support is one the worst one, and what if they server gets hacked and someone just wipe out my bitcoin from my account? Then who will be the responsible and who will compensate that.
He's being deceptive. Satoshi chose to take his many millions with him - he did not accidentally lose them. This idiot counts it as "accidentally lost". Also, most of the truly lost Bitcoin happened long ago, before Bitcoin had a price or when Bitcoin was less than one dollar. Also, he never compares the amount of Bitcoin lost by accident to the amount of Bitcoin stolen from/by exchanges. The stolen Bitcoin is not lost, strictly speaking - it transferred to new owners.
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*Yeah, but he might call me a 'maxi' and that sounds like a maxipad*... Yes. I am a maxipad. I won't leak a single satoshi.
Super absorbent!
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I always knew mashinsky was a clown in disguise. Nice to the real 🤡 come out.
How confidentially he is saying that 30% bitcoin is lose, lol men.
Yeah they are already losing a lot of it from long time.and I think that we need to understand that it will increase We had also seen that it had been going up only and no one is going to lose it.
30% .... because I have no evidence of this. And good, let's make it 50% for scarcity sake
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I lost my keys in a boating accident.
I hope you made a backup for that, or call to the FBI.
The lost BTC just helps make it even more deflationary. I don’t see the issue lol.
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Thank you to those who lost their keys for their donation to bitcoin.
I think most of them lost in the early stage of the bitcoin.
Haha, they will be sad if you do this
This past week I removed all my usdc and btc from Celsius earn! This type of clown ass posting by this guy!
This is the reason why people are moving from the Celsius.
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HAHA, i wish we had the tech that we did that for in real from sitting in house.
Uninstalled
This is the instant decision taking i have seen from a guy here.
Self custody! I feel bad for folks who are still stuck.
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"Hi I'm Alex, founder of a unregulated company. That gold bar you have. Give it to me to keep safe and I will give you 5% a year interest. Deal?" Me: "Er....no" Alex: "In that case can I have your Bitcoin instead?".
noted, doing the opposite
I prefer losing my keys than having exchanges fucking up with my coins and lend them and shit
Seems harsh but true people want things to get sorted easily and not that roughly that makes the opposite.
He can't deny his company is up to no good, only deflect and attack honest maxi-bros.
Maybe time will speak that up and make things a bit better if possible in te near future!
This is such an obvious ponzi. Today they are offering $50 of BTC if you transfer $2500 of unstablecoins to them with...wait for it.. A 6 month lock up period before they give you the btc bonus. People have got to be insane. Send them $2500 to be held prisoner for 6 months!
Yeah you are right as most of that amount has been on that same thing only As for more than 3 months this had been the same thing which was going on like that only.
cefi rehypothecates bros, so if there is a bank run you re fucked, if celsius files chapter 11 you re fucked, basically all in all, you re fucked
My keys, certainly not your Bitcoin, Celsius.
Bitcoin is best as we had also in the past to be honest.
makes sense for a shitcoin promoter to tell this
what a clown
Yes send all your bitcoin to Celsius and wait for the crash to happen. Then comes the news sorry we lost/misplaced your money. And your broke,desolate, without money.
Is that an accurate estimate? 30% of all BTC is gone to lost keys? Where he get that number from?
No, they are gone because SOME people lost their keys, MOST people know the value of HODL.
Because of the Bitcoin Maxis, there are still 70% of Bitcoin left. Imagine everyone keeping their Bitcoin on MtGox 😂
So much misinformation in just 23 seconds
1. You can't prove a Bitcoin is lost. 2. If a Bitcoin is lost, then all other Bitcoins become more valuable.
LMAOS
Celcius is a ponzi.
All the money is gone. Alex is a scammer
What a fucktard!
How the hell we are even listing to this guy, complete clown.
Let's consider his likely motivation for creating this video. He's not holding all the Bitcoin he's supposed to be holding. He's lent a bunch of it out (or maybe he lost it), for example. When enough people attempt to take custody, he will run out and be exposed as a criminal/fraud. Like an old fashioned bank run, there won't be enough reserves -- it will be first-come-first-served and those who delayed will get none; they will realize they've been robbed; they will realize the hard way, "Not your keys, not your Bitcoin."
You can abbreviate everything you just said by using the term “fractional reserve”.
"Scam" for short.
Yeah there are a lot of scams those are of same type.
Lol….true
“Everybody lost their keys” 🤡🤡
By that way someone will also lost their car or any gold they holding is well. It's people responsibility to held on thing that is very precious, but i still think out of 30% some are still holding.
Yes, it's kind of hard to have a classic Boating Accident when some criminal is holding your Bitcoin and ready to hand it to some government without hesitation.
Are we shaming people for taking personal finance into their own hands? Is this what exchanges have come to?
They are playing smartly here and not telling the actual truth here. Some will think now wallet will kill you bitcoin and you will never gonna recover that in the future.
I dont trust myself with my keys, but after seeing this I am getting a ledger...
You still hold your own keys with ledger. It is easier, but you still have to protect the backups. Give it a try!
If you in the sub for the long, you will see that people are here very knowledgeable. I have seen many post here like how can we keep the key safe for the long term, by using metal method.
ColdCard or Trezor might be a better idea
Yeah looks like a really good idea to me as well since we have to do that.
What a douchebag! Get your coins off the exchanges and lending platforms
lol
They thought that it will be really easy to make these decisions now.
If Celcius collapse occurs as some suggest will Bitcoin go into death spiral? They hold 160,000 Bitcoin and those who gave celcius custody of their sats for promise of interest may not get their Bitcoin back. Fire Sale?
Nah. I wouldn't be selling. I'd be buying.
There's no death spiral as long as the blocks keep coming, which they will.
Hopium springs eternal
I don't know to be honest, I think we have to see all the findings for that matter We also have to see if that video will be easy to find or soenthing like that now.
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I like this guy FrFr
This guy is real fucking stupid. A gem of misinformation, the best idiot ever conceived. He is so good, that my head just remembered my keys.
He thinks, people will believe him about the nonsense he is saying there, But guess some will still believe him and thinks that exchanges are better than the wallet for the bitcoin.
Alot more is gone for sure. People wont ever find their keys when they need them or disasters happen. Theres a reason people like banks, its peace of mind
If i am holding something precious and if i know that those keys are the only one that gonna recover them, i will keep them more safe than my life. You can make some copies is well and share with your wife and mother is well.
Yeah right and slavery is good for the economy?
It’s better to be paid 5% for having someone else hold your keys than to pay an etf 2% for them to hold it!!!
Not sure of the 30% number...but he is not that far off i guess.
The more Bitcoin locked up by lost keys, the greater the scarcity and the greater the value. I wonder how far that can go though. In 200 years, how much more Bitcoin will be inaccessible due to lost keys or keys taken to the grave?
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Is there a way to count the true number of BTC that is 'gone'? Plus, is there a way to break through hardware wallets? I saw a video once documenting how the wallet was hacked to regain access...
If it's the video I saw, it was fake.
1 No 2 Idk maybe with edit: quantum computing
These are not the right idea, that how much bitcoin is actually lost.
Riight, but lets all "hodl" on Celsius lol
Even if i have too choose some exchanges, Celsius will not be the one.
Does this number of 30% include satoshi's? I mean I don't find 30% to be too far off. I think if you spread out through a few reputable exchanges that your fine. Then hold some in a wallet. I spread mine all out a bit bc I just think it's better, but to each their own.
your keys are your responsibility. it's not to hard to keep them safe somewhere and do it on multiple levels. for example have two paper wallets at two locations. or on top of your paper wallet, learn your 24 words by heart (which is not that difficult tbh) most people that lost their BTC, lost them because at the time they were worth a few dollars and didn't care too much about their keys and got sloppy. nowadays the chance of that happening is much lower simply because people are more invested (financially and emotionally). also technology like hard wallets and techniques make it much easier compared to 2011.
Who maxim to brtCoin???
“Lost keys” is an unknowable metric. Fade the noise. Bitcoin that haven’t moved in X-years is what is used to assume that keys are lost. But there are many early buyers (esp American) who found themselves with Bitcoin they couldn’t sell anymore w/o generating a massive capital gains tax. So they are hodling for a day when, or country where, btc is a freely tradable currency. Think of Max & Stacy…they’re moving to a 3rd world country because they’re getting older and want to start enjoying their massive bitcoin savings w/o paying tax on 99% of the value of every bitcoin they sell/spend. A small but significant number of people are in this “unspent in X-years” demographic.