1/4 ZACH (@Zach_HODL_ON): “Otis is — Otis, by the way, that Twitter poll, I think 88% of people said that you need to go to #Bitcoin 2021. The people have spoken, you need to be there. He’s asking, ‘Can you take a loan against your ETH 2.0 as it’s being staked?’”
2/4 ALEX (@Mashinsky): “I have to see if we can do that. Right now, I don’t think we have the ability to block you from earning the interest while you’re depositing with ETH 2. Let me see, we should enable it. I mean, there shouldn’t be any reason not to do it, but let me make
3/4 “sure that technically it works. But it should work, it should be enabled.

“Otis always has the most complex questions. He knows the product so well that he’ll ask me something, you’ll be like hmmm, I didn’t think about that. Maybe we need to get him to talk
4/4 “to Nir directly instead of me being an intermediary.”

ZACH: (@Zach_HODL_ON: “Maybe a consultancy position for Otis in the works.”

ALEX (@Mashinsky): “Exactly, right. He’s a Top 100 Celsian, he doesn’t need a consulting gig.” — May 7, 2021 AMA

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More from @otisa502

9 May
1/16 ZACH (@Zach_HODL_ON): “But when I go into my bank branch, I see that little template on the table that says ‘FDIC Insured up to $250,000 per account.’ Aren’t I completely safe when I have that FDIC insurance?”

ALEX (@Mashinsky): “Try to collect your money from the
2/16 “FDIC, let’s see what happens. Call the FDIC and ask them how much money they have. Go to their website and see how much money they have. The FDIC, again, 99 out of 100 times merges the good bank with the bad bank. They don’t pay out anything. They don’t have enough money to
3/16 “pay out. They’re just convincing JPMorgan to take over Bank of America; they’re convincing Bank of America to — JPMorgan to take over, sorry, Bear Stearns; they’re convincing Bank of America, they convinced them, to buy Merrill Lynch instead of bailing out Merrill Lynch
Read 16 tweets
9 May
1/14 ZACH (@Zach_HODL_ON): "JJ Young is asking, ‘What should I say to my friends who want to get into Celsius but keeps talking about counterparty risks?’”

ALEX (@Mashinsky): "Well, when you give money to a bank, that is counterparty — that’s the definition of a counterparty
2/14 “risk. Who do you think — when you put money in a bank, what do you get? All you get is an IOU. So you give your money to an institution that — under all circumstances, I would say most large US banks are insolvent from the ratio of all the debts that they have versus the
3/14 “liabilities and the national debt and the Fed (@federalreserve) liabilities. If we priced everything, all these assets that all these banks have, not the way the Fed calculates them, but in real market value, the real estate, the loans, all that stuff, a lot of the
Read 14 tweets
8 May
I noticed that you mentioned @BlockFi as a Ponzi Scheme, which I don’t even agree with you that it’s a Ponzi Scheme. Let’s say I bought 100 #BTC at $200 and now 1 #BTC is $58,000. How do I extract value out of that 100 #BTC? Do you recommend selling it & paying half to the gov’t?
I agree with you @BlockFi had one strategy, GBTC, and it blew up in their face, plus they’re a “black box,” but I wouldn’t call them a Ponzi Scheme, and I’m no @BlockFi friend; in fact, their CEO Zac Prince blocked me on Twitter. In my opinion, @Mashinsky deserves
to handle whatever money I have to invest, as he’s very transparent and has a kick-ass business model. I don’t need @Mashinsky to tell me anything, just show me the numbers and show me the company’s wallets, and he has done both; he’s extremely transparent.
Read 6 tweets
8 May
1/6 ZACH (@Zach_HODL_ON): “Next question here — and this is coming from Reddit — Talistag (phonetic) is asking: ‘Obviously, you guys are out-yielding the competition with the best rates in the industry. That leads to more and more deposits. What are the biggest challenges
“‘Celsius faces scaling the yield creation?’ That’s a great question.”

2/6 ALEX: (@Mashinsky): “I can tell you I see no issue for us getting to $30, $40, maybe even $50 billion. I don’t see any issues. We have plenty of room to deploy and still continue to earn yield.
3/6 “The reason we run this campaign, the $250,000 deposit and we give you 2 grand, is because we don’t have enough stablecoins, we still don’t have enough dollars, so we borrowed over $2 billion. I would rather pay you. Today, I have to pay somebody else interest to borrow their
Read 6 tweets
8 May
1/4 “Ronny, Ron and Yaron, this trio has been working on our funding round, they’ve been working around the clock, on the weekends, and I’m happy to say that we made a lot of progress. We’ll be, again, making some announcements in the next few weeks and allowing all of you
2/4 “to participate in this funding round. Great partners who are joining us, who are supporting Celsius, who are believing in Celsius. And, again, this phenomenal growth, this acceleration, is what investors want to see; investors want to see the company do phenomenally well.
3/4 “And this is not just about taking deposits. We’ve seen that other people who just tried to take deposits had major indigestion trying to deploy these assets. Because, you can take in a billion and a half a month, but unless you can deploy it and earn more than what
Read 4 tweets
7 May
1/6 STEPHEN (@StephenBrocker): “Back to the CEL token, they’re a channel, you have the ocean that is the fiat, you get down to like a pond that is #Bitcoin trying to absorb all this, and then you get to the bathtub, you get to @CelsiusNetwork, they’re channeling
2/6 “it, they’re giving it that accessibility, because I’ll never sell my #Bitcoin. Like Michael Saylor (@michael_saylor) says, if you got a whole #Bitcoin, it’ll go up forever; #Bitcoin has been going up at 200% a year for the past 10 years, and it’s just getting legs.
3/6 “it’s less risky today than it was at $10 or $100. As the network is growing, it’s an unstoppable force. But never sell your #Bitcoin, never. It’s the ultimate collateral, and @CelsiusNetwork gives you the option to do that. I was going to buy a house a couple months
Read 6 tweets

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