All of this will be much more transparent when it becomes regulated by the SEC-this is a when and NOT an if under the current way the token/stock works.Īll in all by supporting these coins we aren’t really furthering decentralization, just banks with a different look but this time there’s more risk/reward. They’re doing some neat accounting tricks with the “burn” I’ll give them that.
This is 100% why the price is being a little… stagnant. And yes, early investors can and will dump on new investors-including Alex M. What do we call a scheme where early investors are funded by more and more new investors? Generally speaking these type of schemes are harder to spot, but in this case we know the newer customers are certainly the source of the funds. I fear a lot of CEL utility will be “perks” for discounts on Celsius. “But wait! One of our utilities is of when you buy enough CEL you can get a product we promised mid last year- swaps!” Yes, that is what they are calling some of the “utility”. Fact of the matter is has no use: do not let these little “ambassadors”, early adopters, and the general blind following the blind fool you. Sadly, with a coin worth buying it should not need such things.
Literally Alex makes a tweet daily encouraging people to buy it, imo a little excessive. But what happens when an inevitable bear market comes? The demand for coins will drop dramatically. They, and the crypto community, has risen HARD this past year. Without a company there is no revenue.Ĭelsius will and is doing everything they can to create a demand for CEL token (“let’s make the fly wheel spin”). Now of course, that is part of it, but these companies would not be around if they weren’t making money (hence: business).Īll CEL token and the like are is unregulated and centralized stocks (soon to be defined as a security by the SEC and further centralized) that draw people in with gimmicks that create positive cash flow for the company and early adopters. Anyone in the business world knows “we did it for the community, we want to help our customers” is BS. Somebody wanted to capitalize on a profitable business. So why do these “utility tokens” (CEL, NEXO, CRO, etc.) exist? The answer is simple. but for real please let me know your response before reading mine and maybe basing your opinion on mine either consciously or not. What changes? Does the company exist still? Are customers happy? Are founders happy? Now, think about a world where Celsius (the company) exists without a CEL token. Why does CEL token exist? What purpose does it serve or what problem does it solve? "Crypto is not about helping JP Morgan make another $10 billion in profit, this is about all of us creating the next revolution and adding 4 billion people who as of now don't even know that we exist." You can also get a cash loan against your coins so you do not need to sell them. We’re building a lending platform for the crypto community to reap the benefits of the futures market and margin lending without the profits going to traditional financial institutions. When you deposit your coins you’ll join our decentralized crowdsourced lending pool and earn daily interest. Your Celsius Wallet will enable you to earn interest on your crypto holdings. We were the 8th largest ICO of Q1 2018 with a successful raise of $50m and named the #3 Blockchain Company to Watch for in 2018 by Forbes. We want to empower our community, via a consensus-based, Proof-of-Stake approach to allow the Celsius community members to borrow, lend and vouch for each other. In our view, traditional financial institutions should no longer control the flow of credit to people across the world. Enabling Crypto holders to earn interest and get dollar loans. The Celsius Network will enable the next generation of lending and borrowing via a crypto wallet for the fast-growing cryptocurrency community.
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