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AMA: Episode 51 - December 18, 2020
 Dec 18, 2020

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all right another week we're getting close to the end of the year what a year for uh bitcoin right what a year for ethereum what a year for sell token right all uh bitcoin and sell token are at all-time highs uh doing exceptionally well if you listen to us and you're huddled right we couldn't be more clear about the huddle thing we kept showing it to you huddle huddle right hodl right uh if you did that bitcoin if you did that you did very well but uh if you chose to trade or you chose to try to time the market or you try to um uh you know think that you're smarter than everybody else chances are you didn't do as well as uh either just sitting on your coins or buying more coins every month right if you bought more coins every month you got some at the lowest prices in march and maybe you paid full fare in november or december uh but you're still doing great right so so we we uh don't have a new recipe for you for 2021 it's more huddle huddle huddle right so we don't uh we have not changed our thinking or our methodology since 2017 and it doesn't matter if it's an up market or a down market uh the only way you get through this with more money than you have today uh is if you diversify and you huddle right so those are the things that we kind of uh continue to prescribe uh day in and day out um i think this week uh we'll be paying uh over three million dollars worth of interest so again all-time record uh for celsius um i saw the sell token hit two dollars and 87 cents and now it's i think it's a little lower than that uh at 2080 cents but definitely close to all-time high and we'll talk about why there was such a run-up like what what happened it was kind of stuck at that 240 to 250 uh and so on but let's start with maybe uh bitcoin right so um you've seen uh some really famous uh names uh come out publicly talk about bitcoin talk about prices as high i think guggenheim mentioned as high as 400 000 per btc and they didn't give you a date they didn't say oh by this date or by this time so uh you know if you wait long enough you're obviously gonna be right but uh you've heard me several times this year uh say that q4 we will see new all-time highs for bitcoin and more recently i've talked about us kind of hitting resistance uh basically i said that we will probably hit that 22 to 23 000 level uh five or six times in the road and then revisit lower prices like sixteen thousand before we break out to new highs meaning uh thirty or thirty five thousand uh closer to the half middle of next year 2021. so the reason i'm saying all of that is is is i'll give you a few pointers of why or how i'm thinking about it right i'm not here to predict prices that's not what we do right celsius doesn't care if the price of bitcoin is ten thousand twenty thousand or a hundred thousand obviously it's good for all of us if the price is higher but our business our job is not to predict prices right we don't bet your coins going higher we lend them out we earn interest we give you most of that back but for example very recently and i'm talking about the last two weeks what happened was that that there was an accumulation of uh users or speculators who were betting against bitcoin right so they were buying puts or they were buying futures that were betting that bitcoin is going lower and in the last two weeks what you've seen this the reason for that steep run up is not because some giant organization bought five or six hundred million dollars none of those smart people that put hundreds of millions of dollars are chasing prices right they're famous for not doing that right so so like michael from from uh microstrategy he told you i very slowly bought bitcoin over time on coinbase without anyone knowing right small bids over a very long period of time and that's how i bought my 500 million dollars so so the chasing of pricing has nothing to do with large institutions right yes there's a lot of excitement that all these great guys have joined us and they're now believing in this asset class and they keep adding to it and so on but but the reason for the run-up the main reason for the run-up is something that most people won't tell you and that is the liquidation of all of these people who were uh short bitcoin so as the price of bitcoin kept going up they got liquidated what does it mean liquidated when when you have a option contract or you bought puts or you have futures that are betting on the price going lower or you were shorting bitcoin on this or that exchange when you hit the margin call the exchange or somebody else has to buy them back meaning there is demand there's an increase in price and that demand that those orders are not placed as limited orders they'll place all of them if you're being liquidated that is a market order and what happens with the market order is that the price goes up and as it goes up it lit it creates the next liquidation the next liquidation until we run out of people that we can liquidate so just like on march 12 we had this flash crash meaning liquidations of people who were long right we liquidated a billion dollars of people who were long bitcoin and all those liquidation uh caused the price of bitcoin to drop to four thousand dollars here we had the this run-up uh from the 15 16 000 range to the 23 500 rage it spiked and now we're going to see some retrenchment why because why we saw like uh shooting through 20k straight to 23k i guess seems like irrational exuberance almost was not dumb people chasing this was people who were short being liquidated and again one trigger one liquidation is causing the next liquidation and so on so on so so all these things are temporary meaning this is not a fundamental new price level right this is a concentrated action that's happening in a short period of time and normally what happens afterwards is that prices reach range usually they retrace 50 percent but because this was a liquidation they probably going to retrench more than 50 meaning that's why i'm projecting that 15 16 17 000 uh dollar we're gonna revisit that we may revisit that for five minutes but we will revisit that in the next few weeks so so that's my projection again i could be a hundred percent wrong and we go straight up from here to thirty thousand uh but uh uh my bet is that because the main reason we went up is not a solid reason it's not like suddenly some government or whatever started using bitcoin uh because of that i think we are going to uh unfortunately unfortunately i have bitcoin i love for bitcoin to go up we're going to revisit those highs so uh you saw me talk about it on bloomberg let me share a screen here and just show you guys uh where we are so is so here we are on coin paprika which has a great festive um snowflakes you see here on your screen if you're visiting them uh on the bottom you can see our market cap so 1.254 billion market cap uh the price uh the activity right 3 600 percent in english in the last year and if you look at uh if you look at our ranking right if you go back to the top uh to the top 100 here uh you will see that we rank number 20 what are we 20 something 24 24 right the 24 taken to so just to put things in perspective in january of this year we were ranked number 2100 or something like that we had even though we had 550 million in assets uh we were ranked uh uh number uh 2100 and all the different on coin market cap all of them and uh you know now we ranked uh basically ahead of crypto.com ahead of uh dash some amazing name ave right all of most of our competitors most of the d fires are ranked behind us right and now we kind of uh need to crack uh some of the top names in in crypto right so um so that's one uh let's look at uh uh why sell token why cell token uh uh had such a big jump right so if you look at the last uh week or so right and you will see that uh we had this massive jump right like if i look at last seven days it just ran up like crazy right something obviously happened right here right so what happened so one of the explanations i don't have all the explanations but one of the explanation is this guy tikka tiwari which some of you know some of you don't uh tikka is a stock analyst now is dabbling also in crypto and tikka basically uh picks uh uh uh tokens that he thinks are going to do well and he this week he changed his top six pick a location and included sell token as his number three pick uh he charges yep he charges a lot of money uh i think he charges something like five thousand dollars a year for you to sign up to his newsletter thank you tika for picking us up hopefully you did the a lot of homework to figure this out but again we don't know price is going up price is going down again we don't predict uh pricing for salo for anything else currently if you want to know what we're doing watch our wallet right watch your treasury wallet as long as you see that that is has the same balance that means we're not selling any of our treasury right and uh as long as we're sitting on our coins or tokens i should say uh you have to make your own decision and decide if you want to sit on them or you want to diversify you want to have more bitcoin or anything like that right so uh this is my wife's site uh usa strong dot io and we have a bunch of shirts here for you guys banks are not your friends and few others that are live right now you can actually go and order them right now so there are several uh great looking shirts that were designed uh by the team right so uh the mushinski method so if you are a hodler and you following these steps get that shirt let everyone know get it for your family for christmas exactly and and share with them uh what and how and so on banks are not your friends that's one of our favorite and unbank yourself and just a huddle shirt right so these are kind of like the four best options they're twelve dollars each or sorry eighteen dollars each so we put them at uh basically at cost to make sure that um you can get them right now they're only available in the united states we don't ship overseas but we're going to get some of our ambassadors and some of our admins to have these as well in europe and in asia and so on so if you're really dying for one we'll be able to get one of those to you on special requests or if you do a task or something uh we'll be uh compensating you with either sure it's a sell token or whatever a great way to say thank you for ambassadors to help us out we'll send you some swag that's right yes we have great swag again the new coins that kim created uh and uh great shirts and some other stuff that's coming in so if you've not been uh if you're not signed up to my medium so go to just do a search machines key slash or space medium and sign up and we do publish some great content here uh great articles like this article about janet yellen that i published recently that had the great content that that's what bloomberg and kid code news actually picked up on this and that's how we got those interviews scheduled and it shows you really viscerally here how the fed is what the fed is doing to the u.s dollar and its impact long term uh so again if you want to understand some of my views on the economy and kind of macro economics 2 000 year history here of different state different currencies and their how they survived over the the period in which each one of these countries was a monopoly a monopoly was a was a world power go ahead and read this uh and it's available for you uh for your enjoyment uh also if you're not familiar with the look into bitcoin.com there's great content here this is the stack to flow of bitcoin and you can see kind of of how bitcoin is in in on general following this line following this sometimes it overshoots sometimes it undershoots but overall if you want to know where the price of bitcoin is going uh that is actually a pretty good indication uh and again i don't necessarily recommend it to for trading but i do recommend it as another source of data for uh for accumulation and we see on this like the um the overshoots and then the undershoots of that line like i mean uh should would you recommend people just huddle through everything yeah i mean look if you if you see if it's march and you see it's on the shooting like right here and and you want to buy double the bitcoin because you're such a big believers instead of uh your normal 100 you're buying 200 of course that's fine but i would not go and mortgage the house and put everything in because the stock to flow uh model is is undershooting right there could be many many reasons and none of us know how long it could be on the shooting for right so so again the government could come up with regulation uh the chinese government can dump billions of dollars worth of bitcoin on all of us right if they decided because the conference they keep confiscating this uh crypto assets from their uh citizens and all that goes to the chinese treasury i guarantee you they're not going to sit on those right uh so they sell all that so so there's a lot of things that could happen that drive these things down just like bitcoin because of liquidations of short sellers can go up uh 5 000 points in in a few days the opposite of that can happen as well right it will go down 5 000 points in a few days if there's just too many sellers versus buyers so so i would not again bet your most people the the the goal here the job is to finish the race finish the marathon and get a medal right you want this medal for finishing the race then don't take too much risk the job is not to finish the race with the most money the job is not to finish the race a billionaire right the job is to get to the point where you have enough money to pay all your bills to pay for your kids to take care of your parents uh pay off those student loans get rid of all your credit cards right that's the job so to do that you don't need to take excessive risk you never heard me say that to you so don't think anything i tell you never think that i'm telling you to go and and and put the pedal to the metal and go as fast as you can because right now we think that bitcoin is going to 50 000 and you can grab it at 22 000 and everything is gonna be wonderful not at all right the opposite of that so so just a uh what what i want you guys to do is finish the race right finish the race it doesn't matter if when you finish the race again if you got the medal as the the fifth person on the marathon or the 25th 000 25 000 person on the on of the marathon right so let's part of the machinski method is to not go 100x long exactly 100x do not use leverage exactly so this is again recent interview of me and bloomberg bloomberg did their homework they called us the second largest asset manager in the world so if you have not watched it go on our channel it's available uh on our youtube channel if you if you have not signed up to youtube then definitely go ahead and sign up and uh uh watch it also we were on uh yellow finance so if you not watch the video um um they did they did a great uh coverage and uh a write-up uh right here uh on yao finance so you should watch that also marketwatch uh covered celsius recently uh talking about different uh crypto uh assets uh so we wanted the top uh to be mentioned top memberships one of the largest publications i mean are there eyes opening and seeing what's really going on well so fortune when uh bitcoin goes to new highs everybody wants to talk about bitcoin and then they go and say okay who who is the authority and and they look at who is the biggest right they basically say okay so whoever has the most bitcoin or has the most assets must know what's going on so again now that we clearly after our chain analysis ordered internal audit clearly are number two right uh i think people are taking us much more seriously and that's why we're getting much more publicity or much more screen time with the top media places [Music] celsius hub again independent effort by a few celsius amazing job here on on the content in many different languages so if you're not visited it or if you if you want to translate our content to create new content in different languages uh go ahead and join uh celsius hub and you can post your stuff here and basically still use your code your promo codes and this and that and so on so yeah just yesterday i got to talk to a gentleman in austria that's building an all german site so uh the virus is spreading yes definitely so there's a lot of great content here there's also content on our own website in different languages but definitely you have to do decide which one you like better uh and we we're happy to post things on both platforms it's not we're not in competition with these guys or or anything like that okay so uh uh next is uh another a really nice article on medium that's kind of talking about uh explaining uh the celsius method the the the cell token the flywheel the methodology while we're acting in your best interest all that stuff in a very detailed way and in systematic way which i really liked uh so great job uh here uh so definitely if you have not watched it here's the title and you can look at you can search this on medium or do a search on google and you should be able what do they say about find it rehypothecation on the bottom um well just explaining what that means here yeah right so i think they had the definition of what is real qualification they talked about the fact that other people are doing it right so uh so basically fidelity and citibank and everybody else is doing the same thing and that we are just doing it in crypto so is it safe again very detailed description uh so i think pretty good uh um right up here that that you can read through um so dharma d-h-a-r-m-a dot io dharma uh launched a great utility uh that you can use to buy sell token and so now it's one of the easiest ways to add we haven't had a chance yet to add it to our website but basically uh this is a great place for you to quickly uh be able to buy sell at no fees and and so we recommend it uh so definitely go ahead one more way for americans as well right so if you are us-based and you were like well i don't really know how to use unit swap here's an even easier the easier way to use dharma so we definitely would like you to take a look at it and the crypt had a good article also about celsius covering all the different things all things crypto and and so if you missed that here's another article about us all of this in one week right marketing insider again we were in business society last week if you remember with a chain analysis announcement this week that another article written in which they also referred to us and had a quote or two uh from uh from celsius so definitely uh we're getting very good coverage uh finance magnets and others so a lot of great coverage uh uh for everything we do and uh kitka news likes us a lot again if you have not watched i had several episodes of of me being interviewed by david uh their main anchor and in this one i'm covering um a lot of stuff about the the traditional markets gold crypto and this video i think got something like 60 or 70 000 views already if you watch it on youtube you can see the the views and the comments so people are very excited about everything that's going on so bringing you on as a regular contributor well i've been there half a dozen times but uh for now i'm just a regular contributor on the celsius weekly amas you know i gotta i also need to work and and uh create the value for the community right so that is my priority number one uh having uh uh creating a fame and uh uh pumping up my ego is a priority number seven seven thousand [Music] um all right so let's go back to um you know zach you had a bunch of announcements so why don't you go through them oh yeah and we got a lot of action going on here um so some of the updates we want to talk about is like uh the rewards so we've been doing a ton of promos people have been loving them they've been a great success for everybody um but there's is still a a bug where the reward isn't showing up locked we're hoping to fix it this wednesday it still required some testing so now it's being expected to be fixed on monday um yeah you're still earning everything uh we you're gonna get all your credits i keep seeing people on twitter saying oh they scammed me they stole from me if we haven't stole for you from you in three years we're gonna steal the 20 from you really so so just a look we we want to make sure we test it properly and i apologize yes we were we promised it's going to be out on wednesday and it wasn't uh so uh um and look just like with uh um with the dns where we apologize with a promo code we are going to apologize with the promo code you guys love it when we apologize with the promo code so here we go so uh uh we're not gonna give it to you right now we're gonna make you stick through the show like they do on tv they keep telling you but our best guest is is coming on right after these commercials you know yeah so so breaking news promo code on on on celsius you know so uh but let me talk about the job fair so we had over a hundred people apply for the job fair again all you have to do if you want to apply uh is jobs at celsius.network so you sent us the resume no one got back to you you sent us the resume and we didn't interview you whatever happened right believe me it's not because we don't like you it's because we're just too busy so we apologize again we might make a promo code just for that but the point is uh that to join us kim is laughing at my jokes you know my dad jokes uh the point is if you if you if you want to join celsius we're still hiring we're gonna need several hundred people okay with what's going on just i was just workers on a mega deal with a huge company so which i'm just gonna need to hire 50 people just for the call center uh just for one deal alex don't tease us like that yes that's my job so my point is is that that if you really want to be part of celsius and remember we give tokens at three dollars right we're gonna give another award to our employees or three dollars you better make it in like now like a uh you know you the people who joined the dollar fifty already doubled their money since they joined celsius right uh on just becoming a celsius employee boom the bonus just got worth twice as much uh um so and the people who joined us uh and the ico got their tokens at 15 cents right so they made 100 times their money or whatever yeah so don't worry if you missed three dollars there's five dollars and if you miss five there's ten and if you exactly it's ten that's right but the point is is that if you email jobs at celsius.network and you follow those steps the six steps you have to follow okay many of you apply to the job fair and then they don't do the prep work or they don't do the homework you don't participate in the channel so so to do that you are uh what do you call it you need to if you want to participate you got to do the right thing and and uh if you want to be part of the community and you want to do all the things we're supposed to be doing then definitely now is a great time to join celsius right and convince us that we must have you on our team all right so that's the job fair jobs at celsius.network again otc as that network is still available 25 000 or more and now 25 000 is like uh i don't know 10 000 tokens right it used to be exactly so uh so definitely um uh email otc at celsius.network if you are looking to buy 10 000 sell or more and we will connect you uh with the um with the seller there's always a seller there's always somebody who bought in the ico somebody who is divertifying or an investor that came in along the way and and is looking to sell all we do is match you up with one of those people you avoid the fees withdrawal fees deposit fees all that stuff and they get to sell at a good price so all that stuff is uh is uh uh uh for your benefit okay yeah alex some people are asking about where do those tokens come from for the otc they're not seeing them come out of the treasury so i mean what's going on there if you could talk a little more about otc yeah so so what the only thing otc does uh and that's several people who work in on our team some of our best team members is uh they effectively uh we have to buy like this week we're gonna have to buy about a million and a half dollars worth of sell token it's half of the three million in interest we have to pay out why half of our customers said i want some sell tokens right i want to be paid interest in sell token so so rotc desk sits there with limit orders on liquid on other exchanges and when sell drops they grab it right and and they basically fill up what they need for the week also if a seller comes to them and says i need to sell the sell token for for whatever reason they will buy it from the seller sometimes they'll buy themselves sometimes they buy because they have a a buyer on the other side but but they basically create a market and they are uh creating liquidity both for the buyers and the sellers so besides the buy wall right if you go on a liquid and you see that giant bywall and that sliver of sellers besides that there's also the otc desk and there is unit swap right unit swap has pretty big volume two three four million a day uh sometimes it's 10 or 15 million a day uh but basically those are the kind of like the pools of liquidity the three pools of liquidity where most of the cell tokens are moving and almost none of them or none of them i can say that are coming from the celsius treasury so we're not using our treasury to pay interest we earn the interest in btc oath or whatever from the institutions and then we buy sell token with it with the btc or with the eth or with the usdc uh uh just like you would be buying it and that's right so that's how it works huge difference i was talking to our this morning and like they're they were so disappointed with another company's token that was paying that interest through dilution just releasing more and more tokens in the market and celsius doesn't do that we're out there grabbing tokens from the market to pay our users that are in the wallet and that's a very very good process for everybody right so so if you're in uh xrp or if you're in crypto.com or you're in most of these other projects you will see that all the tokens that they're giving you are new tokens right they're just dumping tokens on you so the circulating supply is growing very very rapidly and i've showed that in previous ama where i've showed you the increase in the number of token and the market cap of crypto.com versus the increase in price even during the good time that was before cro dropped by 50 or more uh most of that value went to the company and not to the owners of the token celsius does the opposite we do not create new tokens we are limited supply we are even more limited supply than bitcoin ethereum because they have mining which creates new tokens celsius does not have any mining you cannot mine new sell tokens right they'll never going to be more than 695 million all right so um so um zach he was supposed to talk there was some rumors about austin texas we're moving to austin texas or something what's going on people want to know like you said the the company is growing rapidly and um with covid we haven't been able to move to our international offices but um we are opening up an office in austin texas and i was just talking to wasim last night it's going to be our head of strategy kind of a master planning area right also product development to bring in these next generation services to everybody so uh very excited i know we'll see do you have to be a mandalorian to join or no but it helps it really helps but we're looking for that top tier talent um to come to this texas office and begin you know the next generation of celsius development yeah okay uh so uh and that office is gonna be focused on on data big data on design on on strategy so if you're doing any of those tasks and you are you are in austin or you want to move to austin or you just go to austin texas uh for the jazz festivals or the music festivals or south by uh any any excuse you want to give yourself uh texas has no state uh right no state income yeah uh so it's a great place to be we actually had several uh uh celsius from new york who basically packed their bags and said see ya and they left us and they moved to texas so so um uh all right we adding uh four more coins to the wallet right or token so uh um polka dot dot right dot is coming very soon uh compound comp is already live in the wallet paying seven and a half percent so if you have any compound and you're keeping it somewhere else and you're not earning anything on it seven and a half percent for your efforts right hbar ave so these are the the kind of like the new four uh that are joining us and um again uh you wanted to talk about flair yeah absolutely we had a huge successful campaign with flair we had tons of people send in their xrp um they are all going to get flare tokens um when they're released we already have a little spa in the wallet where you can see the the flare tokens represented um thank you everybody for supporting us and trusting celsius to handle that air drop everyone's going to get their tokens it went off without a hitch um and this was and we had a lot of xrp coming in i mean it was like a blood like just crazy so thank you everybody for uh yeah for uh for contributing your xrp trusting us again look most of our viewers here have done very well this year and so few things one is the holidays are here again don't get tempted and spend all that money on fancy gift just because you made a lot of money again uh give the gift that keeps on giving and that is uh teaching people how to generate income how to be financially independent show them how to get into crypto show them how to earn yield uh and i think that is a much better gift uh than giving them an ugly sweater for uh christmas or or uh buying them an extra meal uh and then they're gonna have to go on a diet for three months because you've uh you fed them so well so so my recommendation is uh don't give uh men a fish teach them how to fish and even better teach them how to grow sustainable fish okay so we've seen from a few ambassadors is there they're seeding their families members wallets with a little bit of bitcoin or a little bit of cell token so that they can kind of experience what it's like to earn money on your money for the first time in quite a while and that's a really great gift you're giving them that value and then they're able to see that value grow and hopefully that inspires them that's right so so uh look everybody should do whatever they want but i'm just saying two things one one is what we just talked about gift and gifting and the second one is charity so celsius is gonna allow you to contribute to a charity we're gonna pick a few that accept crypto and you'll be able to use cell pay inside the wallet to basically just decide how much and what coins you want to sell pay to this charity so we're going to be publishing their wallets and we're working right now with unicef we're working with the red cross we're working with several of these great institutions that we believe actually put the money to use uh in a great way uh to tell you a personal story uh when i was i i when i was uh uh in my early twenties i got stuck actually in paris uh they stole my bags they stole my passport i didn't have any money and and i was uh unicef has a hostel right in the middle of paris and and i i ended up there and they sheltered me for uh for like two weeks until i got my papers back and and got some money and so so we these are organizations that existed forever right that that help people even people that most of our lives we don't need any help but but when you fall and they come and they help you uh uh get up right so uh so today you have a personal story for me a testimonial on on that stuff so we're gonna enable that we're gonna make it available in the wallet we're gonna it's gonna be one click so if you're planning to donate and you haven't done so yet again you've done so well this year okay i i think if you read the bible it says 10 you're supposed to be giving every year 10 to charity so uh if you haven't done that i have six kids it's cool so believe me i i don't have a choice they're they're grabbing these schools grabbed more than 10 of of of my charity right there but uh um i would definitely recommend to do in our location even if it's few dollars it doesn't matter it's not about how much it's about the gift of giving right when you give you receive and you'll feel much better about yourself and it's amazing that many times the poorest people give more than the richest people right you see these really generous people giving the last few dollars because they believe in in giving so um so that's coming and uh i think tom wanted to show us a video right one of our testimonials oh yeah we got us my name is joel and i'm from new york city by trade i'm a cyber security analyst being a user um it's it's very it's very fun they're very smart they're genuine i like the fact that being part of the part of the community it's a you can tell that they're nice people like especially in a crypto space as we like to say there's a there's a lot of negativity uh toxicity going around but not excelsion community like there's just they're just generally like nice people that just want to you know spread and help with what celsius is doing personally it felt like a weight lifted off my shoulders my financial security and how i invest just in general um celsius is pretty much it remodeled what people think about banks and what it should be you know it's created a sustainable secure way to grow your investments in a way that no one has seen as far as like especially around my age being a millennial like it's very transparent in how it deals with it it's almost like unreal to look at and like be part of because you just you can you can't get it anywhere else especially in a time when we where we live so much uncertainty in the world people cannot don't know where to trust we don't know how to trust especially when it comes like these big institutions as far as like whether they're financial medical institutions all right so uh thanks to kim and tom and zach who put this together we have about a dozen or so testimonials that we're uh we're going to share with you just the average celsius telling you their story and we thought this was special so next week is christmas but i'm still gonna be on the air we are not going anywhere so stay tuned and we're gonna have a special show with you for you next week uh we're gonna have some special guests as well and uh would love for you to uh to join us again obviously if you're away for the holidays or you're resting or you had too much eggnog or i don't know what uh you're excused you don't have to be on the show but uh we'll be uh we'll be here and we'd love to have you with us all right brandy has become my uh holiday drink of choice eggnog and brandy eggnog and brandy all right let's dive into the questions i see a lot of questions in the queue and we would love to answer as many of them as we can yeah um uh one question i saw from the chat i wanted to address was uh why haven't more celsius employees um retired right you we got a we've got this huge bonus or they're big token holders or even you alex um why why haven't you retired yet if you have the money to do something i tried retirement and retirement is something that you know how they tell you it's about the road not the destination so retirement is like that destination when you get there uh and you try it out and you go oh my god you know my entire life i didn't sit in one place for five minutes and now they want me to just to take it easy and have dinner at 3 p.m you know because you have nothing to do and you're bored to death so after traveling and staying some fancy hotels and doing this and that i decided it's not for me retirement is uh and it basically it just eats away your brain right your brain needs exercise just like your muscles need exercise you go to the gym you work out and you feel great afterwards so you go running your brain is the same way it needs the exercise and if you're not using it uh especially if you're not using it to do good uh it's it's just painful seriously painful so so i think most the celsius employees are here for uh they came here for with for the mission they didn't come here necessarily to uh make a quick buck and run away and i think um for a lot of them having that financial stability or having the comforts of making some money actually uh helps you with um uh basically uh delivering that um um you know continue to deliver for others right you you're more comfortable to continue doing it right i kind of think of it like um when you're working a career you are having to provide for yourself and your family but then when you can retire or become financially independent you can start providing more and more value for other people because you don't have to focus on yourself anymore yeah so it's it's definitely um you know again being comfortable uh is very different than retiring right so so we are wishing on all of our viewers all of our users on anybody right to be comfortable because having having that weight on your shoulders of not knowing where uh can you finish the month can you pay the mortgage can you pay for your kids just living on the edge and most of us again do it for our to ourselves by maxing out our credit card living beyond our means not saving for the futures all of these seven they're doing the opposite of what the seven rules here are telling you to do right so who who who did that to you you did it all to yourself so so this is all about uh deferred gratification right it's about understanding that yes you are not going to have the latest car and they live in the biggest house and go on the fanciest of vacations for a few years but those savings are going to pay off right now normally if you put the money in the bank i agree with you that is a waste of time and you should not be saving money in the bank it's going to lose a lot of its value but now that we've shown you how you can earn this yield and how your underlying assets in bitcoin or gold or or even unstable coins is appreciating right because of interesting common because of uh compounding or because just the underlying is increasing in value uh you should be changing your ways and that's really the hardest thing right the hardest thing is for someone who has five maxed out credit cards two cars a mortgage on a house that is bigger than he can afford and his wife just lost their job to change their ways to go back and say okay i'm cutting back on spending i'm getting rid of these cards i'm getting rid of a car i'm renting the basement to some college dropout who is doing a startup and i'm going to make some income on that right these are the things the frugal things that most of us don't want to do because we want to look like we're rich and famous right but that's how you end up doing the opposite of these seven methods all right next question okay uh justine is asking when i lock up my collateral for a loan why don't i earn interest on it anymore right so so if you continue to earn interest in it then celsius would be basically a scam or something that no we couldn't sit there and explain to you how we make money celsius makes money right we don't charge you any fees we pay your withdrawal fees we're doing everything because we do make money when you take a loan how do we take make money we get your collateral effectively for free you got the loan we got the collateral and then we go and make income on that collateral so we can't make income and pay you at the same time right so that's why uh it's one or the other we basically don't make any money when you just deposit with us and we pay you that 80 right because the cost of running celsius is more than 20 of our income of all the revenues right so the rest of the money comes from us using your collateral and rehypothecating the collateral next question all right uh millian is asking uh dearest and bestest alex please tell us more about this wonderful card you have coming you can't just tease us like that and not saying everything we're so excited all right so i promise that every episode i will give you a tiny little uh nugget about the the card how about that right there you go so so i promise that this card will not have any fees unlike the opposite of block five with a 200 a year fee i love it right how about zero percent fee zero no dollars to uh to basically get the card next question all right uh yeah if you did the math on that block by card you had to spend thirteen thousand dollars to make back the 200 annual fee and then another 13 000 to make any money back so yes that's how they get you you know these guys do exactly what the banks do you think you got this amazing deal like i said to you guys just go to fidelity.com open an account in 10 minutes order the fidelity.com credit card everybody is approved and you get two percent back much more than uh block file anyone else will give you and no 200 and fidelity will pay all of your atm withdrawal fees every time you know that three dollars you keep paying they will pay it for you they'll cover it for you okay so until celsius comes up with the card uh use the fidelity uh uh debit card okay or the credit card next question all right mitch is asking um what obstacles are you facing for having sell token as earned or for u.s people to be able to earn interest um in sell what are the options so we we have no obstacles right now uh we we have a program the program is uh um we basically have a broker-dealer who is um um going to run that program for us i'm sorry for the video looks like we lost video but the audio i think is still there so we'll keep going and so uh so we have a broker dealer we just need to register we need to do the things that we need to do and then accredited investors are going to start earning in in sell so early early next year if you're accredited you'll just be basically filling up some forms and you'll be earning uh interest either in kind or in cell it's that simple so there's no we're not facing any obstacles it was just about putting it together next question nice and that's just for accredited investors right the the laws don't allow us to pay every us user but if you're accredited then you could qualify for this yes at the time at this time until the sec decides that they don't want only the rich people to make more money but they also want the poor people to participate in something like four thousand percent returns all right you gotta you gotta protect uh average people from getting wealthy no we need to protect the rich people from the poor people because imagine what would happen if the poor people made money right so so that's what uh yes next question all right uh matt's asking can you give us an update about the equity from bank to the future uh what are the future plans well there aren't really future plans i mean we are um those who invested i think did a good uh uh got a great deal the company's worth uh several times what it was worth just a few months ago and uh when and if we go public or whatever they'll be able to monetize that investment currently there's nothing to do again we provide plenty of updates uh you can go to the wallet to see what are we are we increasing are we adding users are we adding deposits are we adding are we paying more in interest every week right uh are we giving it back to the community are we hoarding it ourselves right all these things are verifiable uh independently of celsius right again we we can't cheat on the blockchain you can see exactly like if we tell you we're going to pay out three million dollars you can look at the wallets and calculate to see if we paid three million dollars or not right so it's like we can hide or cheat or or lie to you and that's the beauty of the blockchain is that the transparency tells you is there a real community is the community growing is the community healthy is the company healthy is it acting in your best interest right so all those things are things that if you invested in equity and side by side next to me you're gonna benefit from the growth of the company next question right okay uh nikhil is asking uh will you are you planning to bring functionality to indian users we are eagerly waiting i think deposits are open in india so you can uh right now uh deposit and earn yield with celsius i think loans are blocked but for deposit just download the app it's very simple you down you go to the app store or the play store you download the app you open it and it tells you wherever you are if you are allowed to participate or not right you show your id and it tells you right away all right next question all right um people in the chat are asking about you're listed as an advisor for a project called coin um i haven't seen anything on that do you know anything about that can you speak on that yes so so i am an advisor to a few projects not not many but just a few and again i'm not endorsing it i'm helping these companies develop their stuff and sometimes these things work out and sometimes they don't like you never um i'm not an investor or a paid promoter or anything like that i'm just helping a few people kind of try to develop new technology i think these guys are trying to develop um a natural language system so basically you can just send a text message to your uh to the service and and say to hey buy some sell token and it does it for you say hey take 50 cell and convert it into ether and it does it for you right so to understand a natural language instead of using an app or using a desktop or anything like that next question all right uh alexis is asking uh will it be possible to earn a percent of our rewards in sell on each coin so let's say i take fifty percent of my rewards and sell and fifty percent in kind yeah so currently it's not possible and and in most countries you have to do one or another for example in the us if you're accredited in theory yeah we can do 50 50 or whatever but it's just too complicated so today we're focused on these large services that we are trying to uh to deliver like a swap like uh buying coins in the first place a desktop app right credit card the debit card things like that so we are not that feature by itself because it's only going to serve as a small niche of the population uh it's not a high priority for us next question all right uh martine is asking could you make it possible to have multiple white listed addresses it's very inconvenient to have one at a time and waiting the 24 hour swap period yeah i understand why it's not convenient but multiple addresses also opens it up for hackers and opens it up to you to make many mistakes so uh so we prefer to not have that and yes it it makes it a a bit more a complicated or cumbersome or uh a but you know we rather have that then you lose your coins right security is already number one and two priorities always always always next question yep okay uh hodler's asking alex please teach us how to identify scams in the crypto sector many people are chasing yield blindly and falling into scams this is no good for everybody yes uh have never been said uh look it's impossible to um identify the scams but what you need to do is just focus on uh the services or the people uh that you know are for real and and stay away from uh anything else i mean it's just a very very difficult to know um if somebody is misusing your funds or they're really not earning the money or whatever right especially if they're not transparent right so the fact that they have a great video they have a great website or or they keep giving you bigger rewards right like cred was for example at some point was giving bigger rewards in celsius right and for a reason right because uh basically they were desperate uh for customers that were desperate for these deposits so um so i don't a you know it's it's not easy it's easier to identify the great companies than it is to identify who's a fraud and who's a scam next question uh from the chat a lot of people are asking about a euro stablecoin and i think there was some news about a bank that was trying to put one out but i'm not sure if the regulations are gonna allow that did you hear anything about that yeah so there's a german bank actually one of the oldest banks in germany that is going to issue a stable coin uh in euros uh that is a great that's what we're waiting for right so people are kept asking me why don't you have a euro coin why this why that and i said we don't have a great issue the minute there's a great issuer just like circle or coinbase that issue usdc right or gemini issues uh gusd those are great issues right we have zero issues uh with adding them to our wallet and allowing you to earn ten and a half percent on it so same thing with uh euros the minute we have uh great issuers and that coin is in circulation or in this case token um i think they're doing it on stellar so we need to support stellar first and but uh that is a great example of a good project next question all right the chat is also blowing up about cardano when ada and it's kind of funny this is a like a meme almost in the celsius community that's like the all right let's do this let's get an interview with charles hutchinson i think he's a great guy i met him a few times in person let's add him to the ama and then we'll add cardano how about that okay because there you go so let's set that up i'm giving a challenge kim did you were you listening okay kim is right here and she's nodding her head and uh you know so here we go so we will uh we'll set that up we'll get uh charles and look it's not that we are holding up right there's two things one our custodians need to support it and as you know uh cardano had several big upgrades which is great for them i'm really excited that they're launched and and uh shelly and all these other uh uh forks i shouldn't call them forks but but the uh iterations of cardano are now live and and kicking but they're still experimental right they're still kind of fixing bug getting things done uh and it's a staking protocol so we love that right so that is not hard for us but we do need our custodians to support it so that's one and second we need borrow we need people who want to borrow it so we can make yield on cordano so uh but let's get charles on i it will be great opportunity to uh for him to educate our community about the benefits of cordano again we're not here to pick winners and losers it's not like oh celsius sell token runs on ethereum and we hate cardano far from the truth i am cheering for every protocol because the more of them we have the more problems we solve on the blockchain the more bridges we can build from uh centralized finance right so that's uh next question yeah please everybody tweet um and tag celsius network and charles hoskinson yes have him join the ama just tell him hey alex said you gotta come on uh on the moib show okay so let's do it all right um do you have any plans to bring back the celsius app in germany why is it not available anymore so germany passed this new law that requires you to have a buff and license almost like a banking license to operate in germany luckily again our partners uh bitwala uh uh have that license through their uh uh partnership with solaris bank which is the german bank uh we it's a three-way partnership so us solaris mitwala or we're earning through bitwala is the same as earning through celsius they are adding eth the currently it's only btc i know they are adding eth next year and until we get our own license we cannot be in germany so we are in the process there but it's not easy so right now the best option is to have a wallet with bit wallet i think that they probably is the same rates as we do so you're not losing anything over there but it's only for btc that's the only uh disadvantage so um before we forget there is a promo code right and the promo code is for btc only and uh it's if you deposit two thousand dollars of btc we're not gonna tell you what it is we're gonna see if you guys can uh figure it out what's the promo code for btc it is live right now right there zach yep oh it's live it is live okay so just like you guys figured out the dns promo and go ahead and figure out what is the pro we have technical problem here with this brand new camera we got this new brand new sony camera and it just keeps shutting itself off it it maybe i i think uh what do you call it i think uh uh blackfy has the remote control on this camera that's what happens you know all right next question alex they bro and in five seconds as well they broke our promo code already i really think i gotta step up the difficulties they already figured it out yeah they're already posted in chat they already did well we kind of kept it simple right the promo code is btc just like on dns the promo code was dns right yeah i went to my team and said to them why do you guys make complicated promo codes that no one can remember you know with like 17 letters and on friday night let's keep it simple right special casters that's it btc that's it so thirty dollars if you deposit 2 000 or more and obviously again if it's your first the bitcoin you earn 6.2 percent first two right you earned 6.2 percent in the united states and we're going to match up the rate so i don't know if it's already in the wallet but we're going to match up the rates so if you platinum and uh uh international you're going to point two percent as well on all of your bitcoins so here we go btc it is free money thank you for just move your coins we need more btc that's why we're doing it because right even though we're now over four billion in assets i'm just we were we were 550 million in assets in january this jenner i checked it okay that's unreal 550 million now we're over 4 billion right i mean just crazy growth amazing growth and all of it has to do with uh with our community okay we can't take credit for any of it right we're like uh but basically the community is bringing their friends the community is training everybody to onboarding everybody uh um answering questions i mean just amazing work zach is doing more of that than me obviously on telegram and everything else but great job next question yeah stuff that we noticed like um to to call out a content creator aaron bennett has done a phenomenal job uh educating people um showing what crypto is showing how celsius operates and he's done great on referrals and we're going to start supporting you know those guys that are supporting us by doing hosting giveaways or you know giving them funds for events um yes we're going to lean into that community so thank you everyone that's that's making content about celsius we see it and and we're going to start rewarding you guys because you're the heart of this right and we do post a lot of it on our youtube channel so if you missed a lot of the shows there's hundreds and hundreds of videos here uh a lot of them are videos again some tutorials uh videos of interviews with some of these influencers uh reviews that were done by some of these guys so a lot of great content uh here's a debate i did with l'oreal roubini if you haven't watched it you're going to watch this one so just digital asset news i think one of our best sources of referrals and again they do an excellent job so really love what they're doing and a lot of real content here is my my uh my show with the co-founder of uh um chain analysis so again hundreds and hundreds of videos so anything you want to know um and also now we have it in multiple languages all right next question uh one more thing i want to discuss is the how the promo codes work uh to kind of help clear up the confusion on that so for this promo it's a general deposit which means anyone can participate and it means you take uh you send you transfer two thousand dollars in bitcoin to the wallet and just before you do that you enter the promo code and once that hits that's what activates it and you don't want to make any withdraws after that for the 30-day period so enter the promo code transfer the two thousand dollars in bitcoin and that's what activates the promo code any withdrawals from that will deactivate it so just huddle for those 30 days and the reward will be credited all right next question all right um a lot of people are asking about swaps um are the in-app swaps still coming in january is it still platinum users first any update on that yeah so so it is coming we mentioned uh uh that the first swap will be eth to eth2 uh so and we'll be publishing the rate i think right now it's something like eight percent on eth2 so you'll be able to actually take your eighth convert to e2 and do it inside the app uh so that is all uh um [Music] you know coming up next question all right uh madan is asking when will sell token be available for u.s customers i can't wait to buy oh well today's your lucky day you can buy it right now there's a number of exchanges that support sell token i'm a us user and i have sell tokens so you can hold it and buy it in the u.s no restrictions there it's just earning and sell token because right these people don't know where so so there is a there is a video first a you can use a service i i showed you guys dharma right or you can uh also on our website there are several videos that show you how to buy sell token on unit swap so if you're not familiar with how just go on right on our uh sorry right here um it's a here we go right this one buy sell on switcheo right here and buy sell on unispock right so i'll play this video right now actually and you can see the right and this was actually created by aaron bennett so uh so it's definitely the a great example of like something that zach was just talking about and and how it works and so on but just search for this video and you can go ahead and do it next buy it anywhere in the world not just in the us any user anywhere in the world can just follow these steps to create it no restrictions no kyc either i think right you don't need kyc if you follow metamask and uniswapper so you can just own it without any restrictions next question all right uh heather's asking the fed is still continuing to print money what effect is this going to have on the economy going forward so short-term uh uh yes the fed is uh printing money the government or the senate just approved they're about to approve uh a trillion dollars additional trillion dollars on top of the three trillions already uh through an uh peppered on the economy so that's all new dollars because when treasury basically uh is going to borrow that money right they go to the fed and they borrow that money uh and the fed basically issues these uh uh if the fed is effectively creating ious from me and you right we're gonna have to pay it all back it's debt that that is created money is created and is given to treasury and treasury is going to give it to us in the form of an unemployment check or a bonus check you know like the twelve hundred dollars that they sent us uh or loans to companies that uh you know uh we're bailing out and all kind of stuff like that so all of that short term it's great because we it's like getting an adrenaline shot in your arm for 10 minutes you feel great and you you can run twice as fast but after that you crash right your body needs to recover and you need the whole weekend to just barely recover from that shot of adrenaline so the economy is going to have the same reaction right and all we're doing is we kicking the can down the road accumulating more debt not getting rid of the disease the opposite we are just prolonging the pain and making it more difficult for us and for our children to recover from this so nothing good okay let me put it that way nothing good if you want to hear all my views on it again i shared with you my medium post look at the janet yellen article look at few others and see all my arguments again several publications cover that yao finance bloomberg others and many kids can use many of them are in agreement but we're still doing it why are we doing it because the easiest thing to do is to print more money it means print money uh there's uh you know there is a car congestion print money session brings money pandemic print money you know how convenient for those that can print the money right the president is complaining print money every the answer to every question today is print money right modern monetary theory we can we can with mmt we can cure everything if we just printed a little money we all know that that's not true next question and if it doesn't work you need it to print more right and and every time they print more money it makes bitcoin more valuable it makes ethereum more more value it makes l tolkien more valuable right yeah next question all right uh alex will you be attending the uh coin telegraph charitable trivia quiz i will it's tonight right uh i think the quiz is tonight i'm not so good at quizzes so don't expect me to win i'm doing it more as a charity event and and uh we'll see who are my who are the other contestants and and they're probably gonna do much better than me but i'll i'll promise to do my best and represent all of you the best i can you've got all the hodlers behind you uh kim who just she just sent me she said the the store is getting a complete redesign and will be live on january 4th uh she's making some big promises here she says yeah working on it extremely hard that's right and and kim has uh unique items in the store the store is separate we haven't linked yet the website and all that stuff to uh uh um again the point about those shirts is just that we couldn't get them at that price so we had to use a different vendor those are usa made shirts so they're made in the us printed in the u.s shipped in the u.s and so on so that's what's special about those four shorts that i found you that i showed you uh and they're supporting local businesses so we wanted to show some support and they're actually made in california believe it or not and they're being printed in texas and then they're shipped out of secaucus new jersey so we're supporting like 10 different businesses with just making these uh t-shirts and we still can deliver it to you for 18 right so so that's the what's so special about those t-shirts so get a few of them you want to give them away for the holidays they come in different sizes again separate from the store and the store has a link on our website so if you haven't gone to the store now it's easy to find uh there's a link at the top uh to the store next question um oh yeah tom also wanted me to mention that we're gonna be streaming on twitch now uh we're gonna be doing giveaways i think we're slated for wednesday uh but we're gonna be playing warzone we're gonna be playing world of warcraft uh we're gonna play uh mortal kombat finish him um and we're gonna invite the community come and play with us we're gonna have giveaway do trivia kind of a relaxed fun time to meet with everybody that's great i'll do it with my uh helmet my other my mandalorian helmet so the mandaloria people love that alex like i think everyone's a little disappointed that you didn't have a baby yoda mask or something on today that's a christmas special so we'll do that for christmas all right next question uh tamir r is asking uh could you enable ira accounts with your celsius wallet so like is he asking can you have your celsius wallet in an ira account earn tax free yeah so we are we are adding a few providers who can do it but you can go to itrestcapital.com or the several of these guys and just open an account with them and then invest or use the celsius wallets uh as part of an ira plan we don't manage the iras but we do support several people who do that so go ahead and do it through your ir ira and we also have um i think links now a new link on our website for corporate applications right is it slash corporate or what was it celsius.net right kim do you know the link for the corporate application that we're putting a new one anyway supposed to go live if it's not live today it's probably gonna go live monday ryan is probably sweating bullets listening to this saying oh my god no i gotta publish it so so it's a much simpler uh onboarding process that allows you to kind of finish everything in one shot [Music] if you're applying as a corporation or as a family office or or anything like that next question okay uh jacob we have like we have like a hundred more than a hundred corporate applications uh a month right now coming in right so it's coming yeah fast and heavy they're flooding in um everybody wants to get into the celsius game i can't blame them all right jake is asking are there particular challenges or opportunities that celsius faces during a bull market that they don't see during a sideways market well again we do well when there's volatility so right now obviously there's tremendous volatility uh bitcoin going up so fast great volatility actually a lot of demand for stablecoin believe it or not because people want to chase that and they borrow stablecoin to buy more bitcoin and and when there is uh price correction there's volatility the other way right because people are boring bitcoin to do price arbitrage or market make here or a lot of stuff same thing with eth and many many other coins right so volatility we had plenty of volatility this year right this year was again we've seen uh bitcoins uh below 4 000 in the same year that we've seen it hit 23 500. so so um um if you were hotling you could care less you were just making your percent six point two percent with celsius and you could care less but if you were not huddling if you were trading or you're worried about when to get in when to get out uh you didn't sleep well at night so we um you know i slept like a baby through all of it next question all right um ac is asking what influenced alex and celsius to be so altruistic 80 back no fees was there a person or event in your past that led to this outlook um look again i i uh i think most of us are givers like i mentioned that before 80 maybe even ninety percent of us are givers uh so it's it's part of our dna of the human dna and and this it's not that i'm special or i've done something special 80 20 uh is the arrangement i mentioned this several times right when goldman sachs wants me to give the money uh they're offering me 80 20. so are they all too altruistic are they doing it uh because they're so generous no because that is the deal between rich people and poor people right uh sorry between rich people and others who manage their capital so when we did 80 20 we basically took that deal and said why isn't it available to everybody right and and we just made something that was available only to the rich to be available for someone with ten dollars so that's really the only issue so am i uh uh the first one to do it probably right so the innovation is the fact that uh we decided to take this best kept secret and give it to the masses not charge any fees we look if we did 50 50 i'm sure that we would we would still have two billion dollars instead of four billion dollars but it would still be two billion dollars right but we decided to go to the max right to do as much as possible and uh you know i have uh now i think it's like 160 million maybe 165 million worth of assets on celsius uh so i have probably the largest single wallet it's not one wallet it's many but but my point is is that when i pay 80 i pay myself so so i i don't want you to think that i am better than mother teresa i'm just doing what's mine in my best interest and i happen to allow everybody else to get on the bus and benefit exactly in the same way that's something that no one has ever thought of right most people would say but i can get away with paying this person one percent why am i paying him 10 and a half percent even if i paid them one percent on their stable coins and they will give me their stable coin because no one pays even one percent now that we're paying 10 and a half all of our competitors are struggling they're like eating eight percent eight and a half and they're screaming and they're saying i see them writing oh it's unsustainable soon celsius will stop paying it we keep raising rates guys did you notice we keep raising the rates so so my point is is that that all these other people who paid you nothing before celsius how much i i saw that block fi and somebody else bragged that they existed before celsius that's right they existed before celsius they didn't pay you anything they didn't get pay your interest and they charged you 20 percent to borrow on your bitcoin we charge you one percent so it just shows you how how much these people were stealing from you and what is the real deal what is what is market what is fair value right so we set that standard for everybody in crypto for everybody in d5 right why do you think the rates in d5 are where they are because celsius pays even more next question it's like uh one of those things that's not having the right people in place per se but it's about creating the right incentives and bitcoin did that with its monetary policy and mining and celsius did that with the cell token investors and yada yada that's what right create we create an ecosystem that acts in your best interest that allows you to earn yield in an environment where no one pays you any yield right both the central banks and the commercial banks are basically not paying you anything they're still not paying anything they're laughing at us like saying ah these celsius guys they they're giving all their money to their depositors how stupid can they be they could have been taking it as a dividend they could have paid themselves it's december it's time to pay giant bonuses well i did pay myself a giant bonus i got a huge amount of interest income from celsius because i put money to work at celsius right it's the same thing and we just did it giving everybody equal access next question all right uh here's our last question from matt he's asking as crypto adoption continues to explode along with the prices what is celsius's strategy to continue offering high interest rates for each coin especially the stable coins and ensure liquidity in the company our strategy has been the same and continues to be the same and will continue to be the same we're not looking for new strategies if you read a white paper it's listed on coin paprika coin gecko ether scan there's links to our white paper right from 2017. read it you will see that we're doing a hundred percent what we said we're going to do we did that in 17 and 18 19 20 we're going to continue to do it in 21 why it works it acts in your best interest right so that's what we're going to continue next question uh i think that's it we only have a few minutes left if you want to do some closing thoughts here yeah we'll do one more question until the camera comes up so okay okay um another very frequent question is you know what criteria do you choose or do you need to choose the coins you support is it you know i know we don't play favorites but what are those three things that a token has to have in order to bring it onto the celsius platform so um again we don't choose winners and losers so if a token is in demand from institutions or from borrowers or people take loans against it right those are the criterias that create utility for celsius right so we these are all the mechanisms that we use to create yield right it doesn't matter if the yield is 4 or 14 we're not only listing things that have very high yield we're listing things that have sustainable or long-term yield we don't want to list something and after two weeks take it down because no one wanted it or or you know no one to wanted to take a loan against it and so on so so we pick uh uh the ones that yield again today we have 41 assets in the wallet we just added four more so it's going to be 45 different assets uh all of them are yielding consistently right there has not been i think any token that we posted that suddenly the yield goes to zero because we earn nothing the yield is gonna be zero i promise you that we're not gonna subsidize it like some of our competitors who pay stuff i keep saying how are you paying interest on that right it's impossible and they're like no no no we earn money yes right you earn money celsius hasn't figured out but you figured it out right so so we we basically created the standard we created this yield income i just from scratch it did not exist right again we are the second largest asset manager how do you think we got there we got there because we are the innovators we are the people who create all of this stuff so so our job is to we do a lot of research we do a lot of like eth2 again we contributed the last 25 000 e to make sure that it launches on time because it didn't look like it's going to launch on time and now we're going to be one of the first to launch it where you can earn the full yield not eighty percent like some people promise you or ninety percent read the fine print right you're not gonna get a hundred percent with celsius you're gonna get a hundred percent of the yield and we're going to stake it for you we're going to do everything for you so right we we we create all that stuff we have an eth node we're not playing around and using somebody's else staking mechanism or whatever and that's why we're charging you fees or doing something else so uh and that all takes again many many engineers a lot of testing security uh it takes a lot that's why no one else is doing it right they're like how how how does celsius spend all this money on on creating all of this innovating testing right launching supporting right customer service blah blah blah you know again hundreds of people doing working on the stuff so thank you for joining it's been a great year uh amazing results again thank you for supporting sell token it's at all-time highs and i i think what is our count right now zach as far as millionaires are we crossed did we cross a hundred millionaires yeah we're uh 102 or 103 uh cillian here so really amazing job so so we now have uh over 100 cellulars uh and many of them uh if you look at their balances i'm shocked they're gonna tell you like they they still continue to huddle right huddle huddle huddle they keep increasing their balances the sale balance the bitcoin balance and and uh um you know more power to you guys we'll see you next week there's still a show on christmas day thanks for joining us and uh again if you want us to have some guests on the show tell us who you want us to have we're going to bring some guests as well and btc right get 30 make the deposit and we'll see you next week thank you very much

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