Login / Join

CEL token
Credit card
Daily report
In-app chart
In-app daily
 Locked tokens
Promo codes
Rewards calculator
Top 500
User growth


AMA: Episode 17 - April 24, 2020
 Apr 24, 2020

 0 comments   0 likes    73 views

Comments (0)

okay we're going live good morning Alex hi everybody yeah it's uh when you set up a coming to you live from the Barbizon crypto castle here in Manhattan ground zero for coronavirus sticking with it we're not leaving town a lot of people ran out of town and are hiding in the mountains or in the plains or whatever I decided to stay in the city with my family and I'm happy we did that being in the arc for the last thirty years and I think yeah we're gonna live or die here with or without Corona so thanks for joining thanks for taking the time wearing one of our vintage shirts from 2017 feels like 10 years ago but anyway let's say we're gonna do a quick introduction now gonna answer a bunch of questions and then dive in into the Q&A so so we launched a new segment on our YouTube channel if you haven't seen it definitely go register YouTube search for social network and subscribe and you'll see we have great segments that I do with my wife Celsius versus the banks we're going to be releasing a new chapter every week to try to entertain you guys and try to kind of capture the essence of what why Celsius is different and better and act in your best interest if you have ideas for sketches we should be running send them over we we're always looking for ideas from our cell scenes and we have another segment called Moy right money over IP or machine ski over IP whatever you prefer where we interview people from the industry not just crypto so the finance industry or tech industry anything else so you have suggestions or more even more or Denis if you can introduce us to people that you think we should interview send those over again Alex Athletica common we'll be trying to bring in interesting people we had the inventor of the blockchain Scott stone Anna we had the CEO of fire blocks we a few other people interesting people who are joining and would love to bring others as well so exciting news we crossed 50,000 bitcoins and deposit that's how much Bitcoin was deposited since we launched the service in June of 2018 so again I think that's more than anybody else out there probably more than all the other guys put together and it just shows you the amount of interest and excitement that the community has over this and I'm very happy that a lot of other people are now offering it especially like finance and coinbase and other people who started finally we forced them to start giving their customers something back obviously they're not doing they're not getting 80% back they're probably giving 10 or 20 percent back but the fact that they're doing something is much better than doing nothing right so we set the bar pretty high and I hope that there will be someone who passes Celsius meaning that they give more than 80 percent back to the community no one is even coming close at the moment we also cost ninety thousand registered users it's actually accelerating very nicely in the last few weeks record downloads on on Apple record downloads on Google and so very excited about all the new people are joining the community we also in this new version we just launched a new version one or two days ago a lot of new features like you can buy sell token and cite the app for the first time not in the US when outside the US and that's a very exciting feature and that's on top of being able to buy other coins like Bitcoin a theorem inside the app currently you can only do it with your credit card but in the next version you'll be able to also do that with the ACH or SEPA so we're adding many many more functionalities in the new as we release new versions also I really example the the hold mode which which which allows you to kind of a freeze your account or manage your account and block it from being used by others it's it's extra layers of security will SAP dated all of the deposits and withdrawal at vs as we as I mentioned before we added fire blocks as another layer on top of prime trust and bitkha and if you want to learn more about that we have an hour-long interview with Michael - CEO fire blocks where you can learn a lot of things of why is it better and so on so to implement all of this and edit the insurance that fireworks provide we're to change everybody's deposit and withdrawal addresses so make sure you use the new ones don't use the old ones delete them and make sure that you only use new addresses do a test transaction so your last transaction is always with the new address to avoid losing any coins all right so let's talk a little bit about the crypto market and the general market so as you've seen I think there's a almost like a disconnect between the reality especially here in New York where the streets are empty I mean I'm looking at Lexington Avenue right here and it's just empty there are no cars on the streets but if you look at the unis stock market you would think that we're gonna go to new highs companies like Amazon and Walmart are trading in all-time highs as if nothing has happened a lot has happened right there this is a ten Richter scale magnitude earthquake it's an event that happens every a hundred years or a few hundred years so this is not a little thing right and unfortunately we still have a lot of speculators a lot of hot money that is basically relying on what's called the Fed put or basically the fact that the Fed will be there to catch any falling knife or any kind of disruption in the market and because of that there's a lot of money chasing returns and taking huge risks banding that all these companies are going to recover and do just fine there are industries who are not gonna recover their industries who are going to basically never go back to what they used to be the travel industry the airline industry hotel industry I don't see any of them recovering anytime soon and we're all gonna change how we live our life how we interact with others and and obviously that's gonna change our patterns but also major change is also what's happening in the supply chain worldwide I posted a long tweet about that a few days ago I think it's still pinned to my Twitter a message so if you're not following me go to F machine ski on Twitter and you can see my thoughts about the fact that for the last 20 or 30 years we built just-in-time supply chains we basically created this marvelous amazing technology and how we can deliver basically overnight deliver anything from any part of the world to any part of the world and and these things are so tightly integrated that any disruption either on a demand side or the supply side is causing havoc all over the planet and you've seen that with oil basically the whole world stopped Airlines cars right all of that stops the demand for oil cratered but the supply chain that is still delivering whatever 50 or more million barrels a day can't handle that and what you've seen in is tremendous disruption tremendous pain going through that industry and a lot of people they are going to lose a lot of money as well as God a business and that's what you've seen the oil kind of gold negative and come back a little bit but what's happening in the oil the what's happening in that supply chain the disruption the global reengineering of that supply chain is going to happen in many other industries and that has not happened yet right we have not seen that hit us yet and that's part of what's gonna hurt our economy all right obviously I would love for the US economy and the world economy to go back to normal and all of us live happily ever after but I'm just giving you the medicine now I'm telling you what I think is gonna happen again this is not investment advice just sharing it with you my thoughts and a lot of this has to do with the fact that the Domino's have not yet fallen a lot of the bad things that are about to happen have not gonna happen because the disruption in the food supply chain for example it has not happened yet right we're just hearing about factories being shut down each one of these factories supplies five or ten percent of the u.s. you know beef market or the u.s. pork market none of that has propagated yet in the supply chain so we're gonna have inflation because after you go through this flash for example in oil or in food you have collapsing companies you're decreasing supply and then prices just start going up so two or three of them years we're gonna see inflation caused by all of this right so all these things are connected right the fact that the Fed is flooding the market with dollars to kind of catch the economy to reflate our economy and go back to normal is also causing tremendous amount of damage both to the US dollar long-term as well as to just other assets and to the 99 percent of Americans who are not benefiting from this flood of money the 99 percent of Americans who cannot access this credit to take advantage of it to make more money but they'd rather just hurt by the basically inflation of money or the dilution the debasement of the US dollar that is gonna hurt us and our children long-term so a all of this in theory should be good for Bitcoin in theory Bitcoin should be rocketing to new highs because as the Fed prints more money Bitcoin gold should be non-correlated assets all those things should be a lot more money should be flooding or fleeing the gold markets and into these non-correlated assets but what happening and I've mentioned it several times in multiple interviews over the last six months where I've said that first you're gonna see a drop and then you're gonna see a major recovery I think we're done with a drop and we're now in part of that recovery the drop had to do with the fact that everybody was on margin all of the speculators all of the people who are a trading of the staff needed cash so they sold everything they sold gold that's what gold went down is sold Bitcoin Bitcoin went down stocks everything went down right and when everybody finished kind of covering all of their margin calls towards the end of March you start seeing and we flush through all of the people who were basically either on margin or super leveraged you see a rebuilding of the Hodler community we seen that in celcius we're seeing a lot more buying from the people who are longer-term holders and you don't need a lot of money in Bitcoin to start moving the prices up and that's why you're seeing those big big jumps even you know even a few midsize buyers can move the Bitcoin price five or ten percent because the hard lives are not selling right and you've got rid of the speculators and that's why we're gonna see a nice increase in pricing as I said by the end of this year part of it because of the happening and other events you should see new highs in Bitcoin as more and more of these dollars also actually hit the market and the base continue to debase the dollar so let me pause here we have a lot of questions from a lot of viewers we are very quickly growing the community as you've seen the Twitter followers are now over 33 or 34 thousand we just launched our YouTube channel we already have close to 4,000 subscribers so we want this to be available to as many people as possible so please share the content please invite people to join us and again no one you don't have to give us money to have a wallet you can just use a wallet and test all the features and you can follow all of our content and get all of this for free and we here for the community and their job is to share as much as we can with the community so Tom if you can hear me let's let's hit the first question hello everyone good talking-to cell seems um Alex so speaking of people from the old world I've got Trent here and he's asking I'm a traditional financial adviser but very intrigued by all things crypto I'm legally not allowed to even speak to clients back for total currency mainly because I can't tell people to buy it and pay me for that advice do you see in the future job positions along the line of cryptocurrency adviser walking people through buying the basics and managing wallets great question and I was invited to to an event in Bermuda I'm not gonna mention the name of the organizer but there was over two hundred billion dollars worth of capital in the room this war advisors several hundred of them who managed over two hundred billion dollars for their customers and I did the crypto presentation actually did it four times it was so popular it asked me to do it again and again and the room was full of people all right then and asked the first question I asked it was like okay how many of you talked to your customers about Bitcoin or about capacity you know not a single hand went out and then I said how many of you hold Bitcoin to a theorem and not a single hand went up so the crypto community is still a very niche community right we're about 50 million wallets more or less less than a million wallets have more than one Bitcoin in them so it's a very very small community and I do see more and more people getting exposed to it I do see many more advisers financial advisers recognizing that especially in light of the Fed actions and the fiscal actions by the US government and other central and other governments and central banks and that they need to take more aggressive action as far as putting non-correlated assets outside of the traditional kind of circuit of buying GLD which is an ETF for buying some other stuff right so I think physical gold digital gold those are things that are going to become much more important and what Celsius is really created in the wallet is a very easy way to do that right we're launching in a few days we're launching the first time in history where you can buy physical gold since it's in Switzerland that is gonna earn yield in gold it's gonna be positive yield gold on gold that has never existed before and if you want to go physically the Switzerland and take the gold out to just redeem your tokens for physical gold and you can take possession of the physical commodity so that's what we're doing that in partnership with tether it's a tether gold and then be launching in a few days I'm also I think an interview coming up CTO to talk about all the technical stuff and how all the stuff works and liquidity and everything else that has to do with it so so yes I do see a future in the next few years I do see that mass adoption of advisors joining the rest of us and recognizing that to protect their customers assets they do need more and more of this know correlated assets they used to say five to ten percent considering the feds action and their needs to print probably close to ten trillion dollars in the next two or three years and I would say that you probably need to put 20 percent of your assets in gold silver and crypto sites next question sure so speaking of growing the crypto space Thierry's asking us associates will reach a hundred thousand users in about two months or so do we have plans to celebrate we do yeah I think I don't think it's gonna take two months I think it's gonna take a few days but we definitely plan to celebrate and we plan to not gonna spoil it but we have a big plan even a better one send us your best ideas and we go from there I like that VF community send us the ideas so I always have a question from Stefan here he says I have a lot of old people in my country they don't know how to use a smart phone but they want to deposit the money to get interest how would you recommend helping them that is a great question and we we can't solve all the problems at once right so right now we focused on just creating a very simple app for the people who are already familiar with either online banking or with cash apps or money output venmo and things like that so a target market is more towards those people but I definitely agree with you that we need to work on simplifying this even further and currently because of regulatory restrictions and other restriction we do need to probably get additional licenses before we can kind of go and offer this more broadly to the people who cannot service themselves right people who need either an advisor or need some other type of interface to transact with Celsius so we have plans I can't share them right now but we do have plans that we'll be announcing in the next few months about how we are expanding the service to hundreds of millions of new people that currently don't have access to Celsius sure thank you Alex I have a question from Josh Sheehan he goes if I mine one Bitcoin today and want to borrow against mining revenues to pay for electricity bills what have you does Celsius have some sort of credit line plan to work with them we do yeah so if you have anything on deposit of Celsius the main coins and you can withdraw more against it on demand basically right so you don't need to it's not like you apply for a loan and six a week or whatever you can draw immediately against up to 50% against your Bitcoin or between cash or litecoin or aetherium or whatever and you could draw on it either in stable coins or if you have a bank information already in the system we will send your wire so we've made it as simple as possible and you have to think of whatever you have a Celsius as your credit line right you have to think of whatever you have there that you're 50% of that as a credit line and and if you have not taken a loan yet go ahead and try to take a loan and see how easy it is to to access your line right set it out take the minimum there is a thousand dollars so we lowered the mineral to make it easier for people to test it out go ahead just test it out make sure everything is set up properly and you can use it when you need it sure thank you so I got a question from Jerry he says can a client from another platform move their loans and assets to Celsius if yes how so I believe Jerry's taken alone out on someone else's plan yes so if you took a loan on Nexo a Blackfyre or any of our competitors and you are paying too much in interest you paid origination fees or other fees and basically use you're wasting money all right in some places you've got liquidated so you definitely can move it over the best thing to do is to reach out to our customer service and just share with them the information tell them okay I have this much with this party how do I transfer that to sell so there's no direct transfer it's not like you can move the balance from here to there but we will work with you to either move it in parts you don't have to buy new coins or use some other mechanisms to do it and we have a lot of people that have joined us from both Blackfyre nexo and other platforms because as you know we liquid a less than five retail customers and these guys liquidate hundreds of their customers so and so definitely if you compare the fees if you compare the treatment if you compare who is acting in your best interest Celsius winds every day next question yes it does so I've got a crush from Raphael here after take out a loan can I add to the collateral to adjust it from 50% to 33% yes you can make these adjustments again we don't judge penalties we don't and you know we don't we try to help you right so it's not like oh we locked you in at 50% and you can't do anything you want to lower your interest rate go ahead to prove that about Celsus anyone saying oh my god I took a loan and we're so inflexible just make sure that you're not talking to a bot or one of one of next toes you know trolls that are constantly jumping into our community but otherwise if you don't forget your real customer you'll see that most of them have only nice things to say about sensors so I got a question from Chris here will it be possible to split interest between in kind and Celsius especially for individual coins hey you can you can go and basically mark each coin separately you can go and say Bitcoin I want in kind but if they're in my one cell token I want to earn and sell you cannot do it in inside bitcoins for example if you want to earn a half of your Bitcoin in cell and half of it in kind the best way to do that is to open the second wallet right so you just need a second email address you create a second profile for yourself you put half of your Bitcoin here in there and one wallet you select to earn in cell and then one wallet you select to earn in kind so that's how you would solve that if you wanted to separate the two and also a lot of people do that for their kids like if you want to manage a separate account or if he wants for security reason not to have everything in one account so all kind of stuff like that so you can definitely have several profiles inside the Celsius Network sure so I've got a question from victory definitely looking to the future will you been through making diversified portfolio that includes top gaming debts gambling daps and essentially NF TS so we think of Celsius as your cleansing act right we're not here to empower and what I call bad behavior right we're here to help you say we're here to help you earn we're here to help you diversify we're here to help you basically make sure that your family and you have a financial future so we are now going to enable gambling we're not going to enable leverage we're not going to enable things that get people into trouble there's plenty of places you can go to and get a hundred to one leverage and wreck yourself that is not the job of Celsius what Celsius is trying to do is give you things that never existed before earning gold on gold while you're earning the appreciation that the gold will have against the dollar that is a product that is again did not exist for five thousand years that is needed right now more than ever why the Fed just printed in one month more money than it did in a hundred years most people don't understand what that means but we do and because of that I'm a creative product that is the best product to separate you from the US dollar to allow you to benefit and create value for yourself while the US dollar decreases in value over time so our job is to create things that automatically act in your best interest you don't have to think about that and if we enable things like hey use your Bitcoin to pay for Amazon that's not a good thing for you the last thing we want to enable is for you to use your coins for other things we are the hostler community right we are here to help you have more coins than years from now not less coins so the things that we develop are things that enable and empower huddling empower earnings and power having compounding effect which more in Buffett calls the most powerful force in the universe right or Einstein I think only Warren Buffett stole it from him so so these are the things that we want these are it's like the invisible hand that make people like me rich right I live in this fancy apartment because I know these rules but most people that use Celsius may heard of them but they don't know how to take advantage of them they don't know how to empower themselves even if you don't have a lot of money compounding still has the same effect on you that it doesn't the very rich guys right and you need to make that work for you so we are committed to only put stuff in the wallet that acts in your best interest and and it's not that we are God and we decide what is what is it again we invite all of you to give us more ideas but we're not going to include things that are too risky things that are to tip that the temptation to use them will make you do bad decisions will risk your future and when you get to be 60 or 70 or 80 you're gonna thank us for creating a financial future for you for having a retirement account that you can live on because the people that didn't take that action are gonna realize that they work their entire life and they have nothing left right so that's these are the these are the foundations or the principles that we are committed to that I don't think almost anyone else is I don't think you're gonna hear any of our competitors talking about any of the stuff I just spent half an hour talking about next so speaking about getting people to take action in their own best interest we've got a question from Antonio here what would you say is the main reason why crypto hasn't gained mass adoption in his experience it's been discussions with people it seems to be around kyc and trust well I think there are a lot of reasons the main reasons is that it is a revolutionary idea and revolutionary ideas take a long time right if you take if you look at the history of humans on the planet you will see every a hundred or two hundred years something very very big comes and the more revolutionary it is the longer it takes for people to believe like simple things like the fact that the earth is not in the center of the universe right Copernicus comes up with this idea and people who went like what are you talking about right and for 30 or 50 years no one believed it or plate tectonics right the fact that plates move around on on the surface of the planet and and you know that took 50 years for people to believe so sometimes again when you look at history back and you look at it and in context you realize that some things are obvious but we're not it takes us very long time to adopt them so the concept of money exists was thousands of years already but the concept of digital money that has a limited supply is something completely new right no fiat currency and there's over 200 of them or central bank has ever created deflationary currency right so this is a new concept and it takes very long time for people to understand what that means and to understand that a deflationary currency is good for you it's bad for the government right that's why government tells you all we need small inflation no you don't need small inflation the people the guys all of us who work to create the money we want deflation we want our money to be more valuable every day not less valuable and that's what is so special about the Bitcoin we're days away from the having and and what that what is the having the having is taking the amount of new Bitcoin that is produced every day and counting it by half so it does the opposite of what the Fed just did the Fed is flooding the market with trillions of new freshly printed dollars and bitcoin is doing exactly the opposite because saying no we're gonna cut it by half right so which side do you want to be on you want to be on the side that is less and less and less new currency then you sorry about this if want a slight temporary lag 90% of that goes to the courage or the too-big-to-fail and it doesn't go to you so speaking of making history do you think we'll see political elections on the blockchain like where do you see the future for it going outside our currency look we have we have political parties who are making it as hard as possible for people to vote right the making you stand in line with coronavirus in play and they're forcing you to go and stand in line stead of allowing you to vote remotely or vote with mainly mail-in ballots or to vote electronically I mean it's lunacy we live in the 21st century and we're still doing stuff that people did 400 or 500 years ago so and again that has nothing to do with caring for the people and everything to do with manipulating rules to take advantage of whatever you know set up there is to win a rigged election so I am just very disappointed in this country that can innovate and and change the whole world in Internet and all kind of amount of technologies like blockchain I cannot get 330 million people to vote electronically that is just a joke next so directing that that ties in with trust and OSI the trust in the u.s. dollar is dwindling as well what you see do you think the American government will declare bankruptcy and what will those effects be yeah I look I don't think the United States is declaring bankruptcy I think the dollar is still getting stronger right it's not getting weaker every day because there is nothing better out there so it's not like on the dollar is horrible let's dump the dollar and only hold goal the issue is that out of all the options in the world the dollar is a fiat currency is still the best option right it's better than holding British pound it's better than holding euros and so on the question is a each time the Fed prints new money basically drawdowns on the credibility of the of the dollar it siphons the power of the dollar right and it makes the the dollar a weaker and weaker institution and and for me the Fed is just a caretaker the Fed is somebody that the Fed Chairman is someone who is taking the baton from his predecessor and his job is to keep the dollar as valuable as possible as strong as possible a hand off the baton to his replacement that is the job of the Fed Chairman in my opinion their job is not to save everybody okay this whole idea that we're gonna save everybody around the world we're gonna reflate the whole world economy you know because we can print as many dollars as we want it's just lunacy a recession is a natural part of an economic cycle in an era in a recession we normally rid of ill and dying companies and replace them with new and innovative companies and we take capital that was allocated to these dying companies and reallocated to the new and innovative companies and that's how you create the next revolution or the next economic cycle right because GDP doesn't come from bailing out the airlines or bailing out the gambling institution in in Las Vegas okay that's not going to create any benefit to the world population okay continuing to suck money out of the poorest people in the country so we we just need to to be strong enough not to draw on a dollar not to use those valuable assets on the past but rather invest in the future and the blockchain or for example fixing our election system the voting process or investing in artificial intelligence and machine learning is the opportunity though we all know that is the future but where are we putting the precious dollars oh let's prop up the airlines all these guys that spend tens of billions of dollars buying their own stocks at $60 United spend billions of dollars buying their own stock with borrowed money at $60 and now they're issuing new stock at $20 right so who who benefits from it no one so why are we bailing them out why are we taking taxpayers money why are you taking your the Fed or you the US government taking my children's money because you're boring from the future and spending it right now on a company that mismanaged its balance sheet why are we doing that that's why I have no good answers for you I'm afraid I have a question here from fitrah actually speaking about partnerships and passing on the funds no one could achieve anything value on its own please tell us about your current and future partnerships that will lead to success in or she words as the highly crammed crypto space yes so we've you've seen me on multiple videos promising major partnerships they all still there and we're working on them very hard we will be announcing them very soon and unfortunately I can't share them I did then we had a community of Celsius who volunteered a representative who signed an NDA and I shared with them at least half a dozen of those tough partnerships so if you not if you want to hear a confirmation if you don't believe anything I'm saying and say how I just keep saying the same thing again and again you're welcome to join the financier or Celsius comm and ask them to confirm write zero proof version of the Celsius have plenty of major partnerships coming up so that's the most I can do right now but you will be seeing plenty of announcements and these are mega companies like some of these companies have more users than all of crypto put together so and that's the whole idea right is to bring expand the base of partnership to create new capabilities for people to come and join this community and the fact that all these partners have chosen Celsius put tremendous vote of confidence in us in our mission and then what we're trying to do here what do you say to the people who are uncomfortable putting their crypto into Celsius they're always gonna be a lot of people who are in the camp of not my keys not my Bitcoin and I'm not against trying to change that I did not start Celsius trying to convince the hardcore guys who want to keep their keys I have some crypto in the cold storage I think that is not on Celsius so so that's not the purpose of Celsius the purpose Celsius is to get the next hundred million people that people are not comfortable with private keys the people don't even know where the public key is right and bring them on create a bridge for them into the fiat world and make it easy for them to join the rest of us because the only way your Bitcoin PSU the guy with your private key is safely stored on your mattress the only way your coins go up is if I am successful bringing a hundred million new people who want to buy Bitcoin because Bitcoin still has even after the having 4% or 3.8 percent inflation per year so unless we add more than 4% of new users who buy Bitcoin we still have inflation the only way this currency become deflationary is if the number of people joining and the amount of bitcoins they're buying every day exceeds the amount of new Bitcoin that is being created now we're all talking about it but most of you guys with your keys with your private keys are not doing about it so instead of whining about what I'm doing why don't you tell me what you're doing about how are you bringing new people to this industry so that's the beef I have with all the all these guys right so just you know it's self complaining what I'm doing going to better than Celsius go ahead and bring the next billion people in and then I'll cheer for you until then you know I think we've done better than most next following on from that why do you think that as a loud crypto to have sort of a negative connotation to a way of causes a slight level of distrust look it started as an anarchist heaven all right I mean just like the internet used to be where everybody went to watch porn in you know I joined the internet revolution in 93 94 and most of the internet was used just to dial BBS's and they have access to free porn right I mean and I have all kind of other scams and and things that were not very positive so any technology could be used for good or for bad right and understand and the crypto community / the blockchain community is migrating from the past to the future and in the past it was used there's no there's no denying it right it was used for not so good things right but it's up to us are we gonna use it for good or we're gonna use it for that right and and again allowing 7 billion people to cross the chasm to join a platform that act in their best interest that brings them from the fiat world to the blockchain world is the opportunity now I'm so confident about it because I've done it once or twice right I've done it with voice over IP where people looked at me and said oh my god now it's you crazy no one's gonna lose leave AT&T and come and use your shitty little startup that does the voice over something we don't even know what that is right so it looked like lunacy when I was in my 20s and I started I was trying to pitch people just stop paying AT&T $3.00 a minute right so so all these things are hard in the beginning but then when we get to mass adoption we look back and say oh my God look at this amazing technology look at this devices we have right these used to be bricks that that weighed several pounds and no one could see this coming unless you had some vision so it's the same thing here with crypto right I live in the future over there billions of people are enjoying the crypto revolution right so we just need to build a bridge between the future and the present and allow these people to actually join all of us and benefit from the this set up again if we're fully transparent it's pretty easy to see what we're doing how we're doing it and I invite everybody to copy us if there's a hunt Celsius copycats then we will get their hundred times faster and all of my coins will be worth much more I have a very selfish reason to do that I won my Bitcoin to be worth more I want my eath to be worth more and the only way would get there is if we're bringing many many more people who both benefit but also help us increase the value of our own coins next sure so I've just been told by Kristen we need to watch certain words just as a heads-up speaking of bringing watch our foul language or what yeah I'm a bad influence on you may I apologized so I've got a question here from Jeffrey's isla I've got some very smart well-educated friends who telling me they're not going to get into Bitcoin unless it goes below 3000 do you see that happening well that's like saying I'm not gonna buy gold unless it goes to $200 right so yes there is definitely a scenario in which Bitcoin goes down a lot and they jump in and they buy it hey hey Celsius bought Bitcoin recently at less than $4,000 why the world went crazy for five minutes right but most of us are not going to have that opportunity right if you were not awake at midnight on February on March 12 and you didn't get a chance to benefit from it right so so the point is is that that every smart investor in the world will tell you that what you need to do is average in right and you have to buy a little bit every month or a little bit every week and basically average your cost basis if you've done that over the last ten years you have done better than any stock market any specific stock any bond any commodity or anything else right bit cleaner outperform every asset class if you look at ten years or five years of three years or whatever so so the issue is more about how do you go at it versus trying to time the market and wait for the right entry point and celebrate and show everybody what a genius you are so my recommendation is don't even look at the price you just put a reminder for yourself in your calendar and every month whatever you can if you can afford $10 you buy $10 you can afford a million dollars you buy a million dollars and it doesn't matter what the price is you just buy it in your average across spaces so I've got a question following question here from Mary actually do you still recommend that people only invest what they can afford to lose in cryptocurrency or direction as the economy morphs we change our advice I only recommend that you invest only what you can lose and the reason for that is that no one not me not Satoshi can promise you that this is a fail proof investment and that this will go to the moon and you will be rich and live happily ever after and all we can do is hope for the best put our efforts in and a diversified portfolio that includes allocations for crypto allocation for gold allocations for other non-correlated assets is the best portfolio I'm not telling you not to have stocks right but you will never know if right now is the best time to buy stocks or the best time to sell stocks so you need to have a portfolio you can change the portfolio you can say okay I have too much tech I'm gonna have more utilities or whatever right and I want to increase my dividends or whatever but the point is that before I said 5 to 10 percent in non-correlated assets now I'm telling you with what with the Fed action you need to ramp that up you need to have 20 to 30 percent in non-correlated assets but definitely you should not have a hundred percent and definitely do not borrow the money to buy these assets I see people who who are taking a second mortgage or use the credit cards to buy Bitcoin or the going leverage on some exchange that is not the that is a way to get rekt that is a way to not finish the race and retire with a lot of money in your account so this is not about a can I become a multi-millionaire okay it's not about how do I make twenty million dollars this is about making sure that you make it to the finish line okay and it doesn't matter if you make it to the finish line with half a million dollars or a million dollars of ten million dollars the point is if you don't make it to the finish line it's not good okay getting old is not for sissies okay when you can't work or you have sick parents or you have a medical condition and you can't take care of yourself it screws up your mind okay because you have to rely on others and you have to be in the position where you're just not going to be happy with yourself and again we're all here in the pursuit of happiness right so if you want to find your happiness it's not about being the richest person on the planet it's about having that comfort seeing the light at the end of the time tunnel knowing that you can land on your feet no matter what happens those are the things we're trying to create and provide we're not here to make everybody rich that is not what Celsius is all about so I wanted to ask you how would you describe the authenticity and security of the Celsius Network well if you don't think I'm authentic or our team look our team works around the clock right and and we've probably one of the highest mission satisfied we just ran a survey internally of all of our employees and we've got one of the highest ranking that this companies do and because most of our employees are here because they believe in the mission they believe in creating this alternate universe and an institution that acts in your best interest so I think we're authentic I don't think anyone can point at us and say oh these guys are scam or these guys are not telling the truth or they're not transparent or anything any of that we are more transparent than any bank than any financial institution than any crypto company right try to go to your bank and ask them okay I want to see what are you doing with my money who are you lending it to how much you're earning and I want 80% of what you just made on my minor try that let's see what happens right so so the principle that Celsius is built on again there isn't a single company encrypt or not in crypto that is doing what Celsius does so so that was on the authenticity what was the other part the security of the nipple security so again I have an hour long interview with one of the best security companies in the world and in our space in crypto and on YouTube so I recommend that you go on YouTube and see my interview with Michael the CEO of fire blocks and do some homework and learn about MPC Lord learn about your proof learn about the encryption in general and cryptography and there's a lot of you will see that we're doing that is a world class that that again we just hired a top guy from from just to be in the Israeli military special you know special ops on the on the you know cyber side and very we take it very seriously we have a lot of our people have tremendous experience in the space and that's why Celsius never got hacked we never had a single coin no tokens stolen from us or anyone get into our system and because of that next question sure so we're gonna be wrapping up here this is the last question and it's from me what do you have to say to the bank's Alex you are not my friend that's all I can say look banks are exceptional platforms to extract value out of your pocket you just don't see it it's a magical thing that somehow you think that these people they charge you to put your money in the bank in the first place alright the charge of banking fees account fees checking fees Bava and then they charge it to withdraw your money again ATM fees and why are fees and usage fees and if you're not doing anything depositing all withdrawing they're making money on your money and they give you nothing none of that back ok so if you ever if you were part of a really bad marriage where one side of the marriage was doing everything and the other side was not doing nothing that is the definition of your relationship with your back just a bad bad marriage and we're married to it there's no alternative it doesn't matter if you switch from Wells Fargo to Bank of America your treatment is gonna get worse not better right Wells Fargo open three million fake bank accounts don't believe me you all need something to look it up if I did one fake bank account I would go to jail right they open three million fake bank accounts no one went to jail still when you have that concept of too big to fail no one has ever held accountable and and when they get in trouble right when they land to their friends and the thing blows out they always get bailed out by whom by us the people who they still phone so that is just a system that will never act in your best interest right so you can't fix that that's why I didn't try the reason I didn't do any I did eight startups none of them weren't FinTech the reason I couldn't do anything in FinTech because I couldn't deal with that system I could not find a hole to get out into a different universe and where we can actually build something and then when I saw the blockchain when I saw crypto I realized that that is the opportunity that is the only way just like voice of I he was a completely new set of pipes that enable us to build dislodge from the old traditional phone networks and phone systems the same way the blockchain and the Bitcoin allows us or crypto allows us to dislodge from the banks from the financial institutions that are stealing from us and create a new universe that acts in your best interest now let's make sure we don't invite to this new membership organization all the people who are just copying Wall Street unfortunately coinbase and all their friends are just old collected just like the bank they charge you for deposit they're charging for withdrawals they charge your transaction fees Mike so what origination fees all kind of fees fees fees fees fees fees and then they brag how about about how they make billions of dollars in it so we if we're creating universe let's make sure we have exclusive membership I mean this in this exclusive membership only the 99% are allowed okay if you were part of a bank or you're part of it if you did very very well on Wall Street good for you to stay over there we don't need you here thank you very much thanks for supporting Celsius thanks for trusting us with your coins and we'll see you next week have a good one thank you Alex bye bye

© 2021 Celsians Social Network – This unofficial community-based site is not affiliated with nor endorsed by Celsius Network.
Contact Us   Terms and Conditions   Privacy Policy