Do you actually known anyone that has gotten a loan from Celisus.network?

hashtag

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Quote from: mk4 on February 27, 2019, 10:46:32 AM

Their numbers are definitely questionable. Also, take note that if they're actually using BitGo to store their funds, wouldn't that be a huge potential problem security wise?

Honestly if I would make some loans through a certain blockchain project, I'd personally go with Maker[1]. I've been following the project for a while and it looks like they're doing well. Also, everything's transparent! I think it has a different system compared to Celsiusnetwork though.

Hope this reply doesn't look like a shill.

EDIT: forgot to mention. They currently just accept ETH as collateral. No BTC for now.

[1] https://makerdao.com/

yes but maker is for taking loans, im looking for options to provide crypto and earn interest.

magneto

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Quote from: hashtag on February 22, 2019, 05:43:44 AM

Quote from: magneto on February 21, 2019, 04:42:13 PM

Quote from: hashtag on February 21, 2019, 06:49:27 AM

I'm researching them and can't find anything to back-up their huge claims. Including the 600M they claim to have given in coin loans, I suppose most of those are institutions, name one, get it confirmed by the institution itself.

On top of add I find it funny how they mention that the coins are kept in BitGo and OTHER custodial services, well which?

Can BitGO confirm they hold crypto for Celsius and how much. They claim they are all up for transparency, how is that not public?

In the app when you are about to deposit they say they keep the coins in Bitgo but "from time to time" they move them to exchanges and others to short the market.

Well you have to do that more than "from time to time" to pay 5% interest.

On their site they explain how great they are and how everyone else is worse, kinda like a child would.

Honestly if it wasn't for the CEO established name I would have scrapped this in the scam folder, long time ago but because he is so established I'm trying to find out something that makes them legit in a provable way, not just claims.

Anyone help me?

You're referring to https://celsius.network/, right?

I took a look at their site and I would avoid them. They operate on a model where you, even as a borrower, have to trust them to hold the collateral in escrow. Do they have enough reputation to hold collateral 200-400% of the loan amount (which is way, way above what is standard for lending on this forum)? I think not.

They also claim that they hold funds on exchanges and BitGo which opens up a whole array of risks including the fact that their accounts may be suspended and funds frozen if anything goes wrong. Then, what would happen to your collateral?

There's virtually zero liquidity for their token, even though it says on ICOBench they raised $50M in their public offering which I find quite sketchy. Though, where did you find the info regarding $600M in loans being funded? I couldn't find that.

They claim it on their site.

And those $600M are coin loans, meaning someone gave them fiat to borrow crypto.

Quote from: hashtag on February 27, 2019, 05:22:11 AM

They are self-bragging too much and using way too unclear language on what happens with the money for me to take them seriously.

However, they have some high profile figures on board, so im really divided.

Yeah, I understand.

That figure is most likely fabricated or exaggerated in some way. If they have facilitated 600 million in coin loans, then it would mean based on their collateral requirements they have handled over a billion USD worth in crypto collateral.

I don't think that is very likely to have happened, especially without any proof on their end. And even though the team members may be intriguing, that is not the sole or dominant indicator that you should look for in a project for their legitimacy.

Quote

Their numbers are definitely questionable. Also, take note that if they're actually using BitGo to store their funds, wouldn't that be a huge potential problem security wise?

Exactly, Bitgo was involved in the Bitfinex hack IIRC.

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

Their numbers are definitely questionable. Also, take note that if they're actually using BitGo to store their funds, wouldn't that be a huge potential problem security wise?

Honestly if I would make some loans through a certain blockchain project, I'd personally go with Maker[1]. I've been following the project for a while and it looks like they're doing well. Also, everything's transparent! I think it has a different system compared to Celsiusnetwork though.

Hope this reply doesn't look like a shill.

EDIT: forgot to mention. They currently just accept ETH as collateral. No BTC for now.

[1] https://makerdao.com/

hashtag

jr. member

Activity: 73

Merit: 1

They are self-bragging too much and using way too unclear language on what happens with the money for me to take them seriously.

However, they have some high profile figures on board, so im really divided.

felicita

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Activity: 1582

Merit: 1031

i joined Celisus.network some day ago but only for there interest rates there.
The offer currently up to 7% for litecoin as interest on your balance there.
But the not look really professional .... since they only working via app no on desktop website....

regards

hashtag

jr. member

Activity: 73

Merit: 1

Quote from: magneto on February 21, 2019, 04:42:13 PM

Quote from: hashtag on February 21, 2019, 06:49:27 AM

I'm researching them and can't find anything to back-up their huge claims. Including the 600M they claim to have given in coin loans, I suppose most of those are institutions, name one, get it confirmed by the institution itself.

On top of add I find it funny how they mention that the coins are kept in BitGo and OTHER custodial services, well which?

Can BitGO confirm they hold crypto for Celsius and how much. They claim they are all up for transparency, how is that not public?

In the app when you are about to deposit they say they keep the coins in Bitgo but "from time to time" they move them to exchanges and others to short the market.

Well you have to do that more than "from time to time" to pay 5% interest.

On their site they explain how great they are and how everyone else is worse, kinda like a child would.

Honestly if it wasn't for the CEO established name I would have scrapped this in the scam folder, long time ago but because he is so established I'm trying to find out something that makes them legit in a provable way, not just claims.

Anyone help me?

You're referring to https://celsius.network/, right?

I took a look at their site and I would avoid them. They operate on a model where you, even as a borrower, have to trust them to hold the collateral in escrow. Do they have enough reputation to hold collateral 200-400% of the loan amount (which is way, way above what is standard for lending on this forum)? I think not.

They also claim that they hold funds on exchanges and BitGo which opens up a whole array of risks including the fact that their accounts may be suspended and funds frozen if anything goes wrong. Then, what would happen to your collateral?

There's virtually zero liquidity for their token, even though it says on ICOBench they raised $50M in their public offering which I find quite sketchy. Though, where did you find the info regarding $600M in loans being funded? I couldn't find that.

They claim it on their site.

And those $600M are coin loans, meaning someone gave them fiat to borrow crypto.

Bitinity

legendary

Activity: 3066

Merit: 1312

Quote from: Lanatsa on February 21, 2019, 05:51:48 PM

Quote from: magneto on February 21, 2019, 04:42:13 PM

There's virtually zero liquidity for their token, even though it says on ICOBench they raised $50M in their public offering which I find quite sketchy. Though, where did you find the info regarding $600M in loans being funded? I couldn't find that.

Even ICObench says about on the amount that they had raised is really questionable.IF they do able to fund that $600 they should atleast put some information on where those funds goes.
I wouldnt easily trust up this service and imagine on the collateral value goes above upto 400%. Which is ridiculous.

They have made over $600M loan means that they hold more than at least $1,2B in crypto as the collateral (with the highest annual interest. The value of the collateral can be much more bigger with the lowest annual interest. They also offers investment with up to 7% annual interest. Sorry to say, but it is hard to believe the stats they shows in the main site.

Potato Chips

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yesssir! 🫡

Quote from: hashtag

Honestly if it wasn't for the CEO established name I would have scrapped this in the scam folder, long time ago but because he is so established I'm trying to find out something that makes them legit in a provable way, not just claims.

If he's that great and established why would he ran a project in the said manner? it basically proves that he's not as reliable as you think he is. I can't say for sure that they're a scam but if we're gonna rely on the probability, its leaning to it imo.

If you're still not satisfied, Why not ask them directly about it? and if you weren't able to get what you wanted, then you're better off not believing any of their claims.

Lanatsa

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Activity: 2786

Merit: 646

Quote from: magneto on February 21, 2019, 04:42:13 PM

There's virtually zero liquidity for their token, even though it says on ICOBench they raised $50M in their public offering which I find quite sketchy. Though, where did you find the info regarding $600M in loans being funded? I couldn't find that.

Even ICObench says about on the amount that they had raised is really questionable.IF they do able to fund that $600 they should atleast put some information on where those funds goes.
I wouldnt easily trust up this service and imagine on the collateral value goes above upto 400%. Which is ridiculous.

magneto

hero member

Activity: 1666

Merit: 753

Quote from: hashtag on February 21, 2019, 06:49:27 AM

I'm researching them and can't find anything to back-up their huge claims. Including the 600M they claim to have given in coin loans, I suppose most of those are institutions, name one, get it confirmed by the institution itself.

On top of add I find it funny how they mention that the coins are kept in BitGo and OTHER custodial services, well which?

Can BitGO confirm they hold crypto for Celsius and how much. They claim they are all up for transparency, how is that not public?

In the app when you are about to deposit they say they keep the coins in Bitgo but "from time to time" they move them to exchanges and others to short the market.

Well you have to do that more than "from time to time" to pay 5% interest.

On their site they explain how great they are and how everyone else is worse, kinda like a child would.

Honestly if it wasn't for the CEO established name I would have scrapped this in the scam folder, long time ago but because he is so established I'm trying to find out something that makes them legit in a provable way, not just claims.

Anyone help me?

You're referring to https://celsius.network/, right?

I took a look at their site and I would avoid them. They operate on a model where you, even as a borrower, have to trust them to hold the collateral in escrow. Do they have enough reputation to hold collateral 200-400% of the loan amount (which is way, way above what is standard for lending on this forum)? I think not.

They also claim that they hold funds on exchanges and BitGo which opens up a whole array of risks including the fact that their accounts may be suspended and funds frozen if anything goes wrong. Then, what would happen to your collateral?

There's virtually zero liquidity for their token, even though it says on ICOBench they raised $50M in their public offering which I find quite sketchy. Though, where did you find the info regarding $600M in loans being funded? I couldn't find that.

hashtag

jr. member

Activity: 73

Merit: 1

I'm researching them and can't find anything to back-up their huge claims. Including the 600M they claim to have given in coin loans, I suppose most of those are institutions, name one, get it confirmed by the institution itself.

On top of add I find it funny how they mention that the coins are kept in BitGo and OTHER custodial services, well which?

Can BitGO confirm they hold crypto for Celsius and how much. They claim they are all up for transparency, how is that not public?

In the app when you are about to deposit they say they keep the coins in Bitgo but "from time to time" they move them to exchanges and others to short the market.

Well you have to do that more than "from time to time" to pay 5% interest.

On their site they explain how great they are and how everyone else is worse, kinda like a child would.

Honestly if it wasn't for the CEO established name I would have scrapped this in the scam folder, long time ago but because he is so established I'm trying to find out something that makes them legit in a provable way, not just claims.

Anyone help me?

Topic: Do you actually known anyone that has gotten a loan from Celisus.network? (Read 178 times)