I am a huge fan of doing your own research as you learn so much along the way.
DYOR is the most important 4 letters in crypto besides "not your keys, not your crypto" and people need to wake up quickly. Over the last few years we have seen some horrendous losses with crypto investors mainly down to the fact they are mostly all very ignorant and too trusting.
I am sure many of you are aware of the judges ruling in the Celcius case where he ruled that all the "earn" accounts are property of Celcius. The bigger picture means you lent your crypto to Celcius and now are part of the creditors list looking at cents on the dollar instead of your full value.
If you googled Celcius early last year however you would find quite a few sites that were openly promoting this and why when researching don't believe anything anyone says. We know many social media shillers get paid so who says these sites are also not part of the big con story to get others on board.
This comes from a site called Bitcompare.net and they gave Celcius a 5 star rating because they never did any homework on what was going on. The weird and crazy thing is they are still very much active and regard themselves as specialists in handing out advice.
I cannot emphasize this enough as there are no shortcuts in research as you need to know and understand everything yourself. This takes months of research and is not just a 5 minute read as this has serious implications when you get things wrong.
This is all they have at the bottom of the page now as how many investors did they lure into this scheme and how much were they paid? They also did a 5 star review for BlockFi calling it safe for investors.
The reality is no one can say anything is safe as you need to do the proper research ensuring your funds are safe at all times. Hard lessons are sometimes the best lessons in life especially when you have lost money in the process. I am pretty sure many who lost funds with Celcius also lost money with FTX as these sorts of places tend to attract a certain type of individual over and over again. Not your keys, not your crypto should be at the front of all decisions made.
The decision today by the judge will definitely wake people or should to some degree as how many have their portfolios stuck on centralised exchanges? These according to the judge don't belong to them as they are not in their possession which is quite right. Fast track 5 years from now and many of us who have been building long term should have a sizeable fortune and what we do with it and how we protect this is entirely up to the individual. Adding a few zeros on your current values will have to influence how people protect what they have as we shall see many more cases yet where fortunes are lost overnight.
