Celsius seems to have been either a ponzi scheme, or a group of morons doing dumb speculative investment on margin, or (most likely) both, but I'd like to point out that MakerDAO is down 70% YTD, Aave is down 60%, Uniswap is down 60%, etc, etc.
You'd have been better off just buying bitcoin on margin (Since BTC is only down 53% YTD).
The point of this post is that you can't make something out of nothing. None of these tokens/firms/etc have any idea of how they can make money in the crypto space, because there is no way to make money in the crypto space - because it doesn't produce anything. It's all just negative-sum speculation, and shitcoins investing into other shitcoins, and it all evaporates as soon as the Fed tightens its purse-strings.
Miners make money, people selling shovels make money, everyone else is just trading baseball cards around.
You'd have been better off just buying bitcoin on margin (Since BTC is only down 53% YTD).
The point of this post is that you can't make something out of nothing. None of these tokens/firms/etc have any idea of how they can make money in the crypto space, because there is no way to make money in the crypto space - because it doesn't produce anything. It's all just negative-sum speculation, and shitcoins investing into other shitcoins, and it all evaporates as soon as the Fed tightens its purse-strings.
Miners make money, people selling shovels make money, everyone else is just trading baseball cards around.