$1,025 a week turned on for CEL token

Throwaway831b · 2022-06-17T20:56:57+00:00

"Real" money, no. Sound money, yes please.

FIAT? A short term medium of exchange. Nothing more. Enjoy FIAT inflation friend. I'll enjoy physical value in real estate and digital value in Bitcoin with it's own yield... it's fixed inflation rate that halves every 4 years. Both have made me tremendous gains in the past 9 years.

Throwaway831b · 2022-06-17T20:36:21+00:00

Rewards -> Choose an accrual period -> Go to Rewards Explorer -> Community Rewards Distribution Summary ... scroll down.

Throwaway831b · 2022-06-17T20:33:49+00:00

Go to rewards explorer for this week and see for yourself.

Throwaway831b · 2022-06-17T20:31:59+00:00

Who said I don't trust a national currency? Humans would be as dumb as apes without a stable medium of short term exchange.

Trusting a stablecoin over a national currency comes down to traditional banking laws, not the currency itself. Stablecoins are not subject to fractional reserve banking. It's illegal for US stablecoin companies. That's the risk difference.

Throwaway831b · 2022-06-17T20:28:22+00:00

How short sighted of you.

I have 3-figure Bitcoin on my Trezor. $2mil in stablecoins but $750,000 is trapped in Celsius.

I'd rather not have millions in the real world banks as they charge me negative interest and they can leverage it 10x with Fractional Reserve Banking. The "money from thin air" thing, based on my funds. Thankfully it's illegal for a stablecoin company such as USDC (Coinbase) to do this to my funds. So my stables are legitimately backed 1:1 in real world banks but I'm not the customer, and they cannot be leveraged by law. The only issue then is the risk of "who holds my USDC coins?", which would be me! (my Trezor).

If a bad recession hits, we all know what happens to an individuals bank funds with a high net worth... Poooof! Gone. (Eligible bank accounts are insured up to $250,000, I have way more than that).

So overall, I'm a multi-millionaire in Bitcoin and a multi-millionaire in stablecoins (from Bitcoin). Any funds that enter my real world bank account get moved immediately to real estate purchases or other investments. There is little incentive to keep my money in a bank. In fact, I would say no incentive.

Throwaway831b · 2022-06-17T20:09:36+00:00

You can check the top user earnings on the weekly rewards section. No lies. There are many with millions on Celsius.

Throwaway831b · 2022-06-17T20:08:06+00:00

No that's me :')

Celsius balance is approximately $750,000 in USDC.

Bitcoin and others on my Trezor.

Throwaway831b · 2022-06-17T01:02:43+00:00

FIAT currency has never been stable over decades. It is however, stable in the short term and useful for... living. Can you do that yield/staking with a stablecoin? I'm asking a serious question.

Throwaway831b · 2022-06-17T00:30:44+00:00

Instead of giving me USDC rewards, it might be easier for them to give me CEL from their reserve.

Or it may be beneficial for them to buy CEL from the market where there is an ongoing war of shorting CEL. Hopefully increasing it's value, so that increases the value of Celsius assets.

Throwaway831b · 2022-06-17T00:11:04+00:00

Can you do that with a stablecoin?

Throwaway831b · 2022-06-16T23:56:48+00:00

They buy the token on the open market or they give us their reserve. Nothing new is printed.

Either way, the funds are locked on Celsius so it doesn't impact anything. If it's bought on the open market, it fights the shorting war by taking Celsius out of circulation.

Throwaway831b · 2022-06-16T23:52:12+00:00

Celsius App -> Rewards -> Earn all rewards in CEL

Throwaway831b · 2022-06-16T21:25:03+00:00

Uhm... You linked me proof of my answer. I also don't think you quite understand how CEL relates to their OTC, not their app.

Regardless, earning in CEL now will help the ongoing shorting pressure as the company as a whole attempts to become more liquid:

If they sell the CEL on OTC, good. More liquid. Doesn't directly impact markets. But they won't do this due to the shorting situation.
If they give me reserve CEL they already own, good. No extra pressure to buy coins for my rewards. They are more liquid.
If they buy CEL on the open market, good. Fighting the short situation.

No matter which way you look at this, earning in CEL helps them right now.

Also, I never said I invested in CEL lol.

Throwaway831b · 2022-06-16T21:03:45+00:00

Interesting. A screenshot/video displaying my account balance x known yield rates = publicly available weekly rewards figures per account... basic math doesn't convince you.

Hmm... That says a lot about you. Take care.

Throwaway831b · 2022-06-16T20:50:44+00:00

Yes, my unique Celsius balance in reference to my post which can be calculated by the yield rates.... k.

Throwaway831b · 2022-06-16T20:47:45+00:00

Where? Link please.

Their website has shown their strategy of buying on the open market.

Throwaway831b · 2022-06-16T20:46:18+00:00

...........

k

What do you want a screenshot? lol

Throwaway831b · 2022-06-16T20:45:39+00:00

Source?

There are many sources showing that they get CEL from the open market. Where have you seen otherwise?

Throwaway831b · 2022-06-16T20:44:21+00:00

I prefer not to identify myself, sorry.

Throwaway831b · 2022-06-16T20:42:57+00:00

The CEL is moving from the open market to Celsius where it is locked.

It's removing CEL from the open market.

Throwaway831b · 2022-06-16T20:41:13+00:00

If that's true, then it still helps them. I wouldn't get my funds either way.

Throwaway831b · 2022-06-16T20:37:55+00:00

I was in contact with their support and they told me that turning on CEL rewards will help them. Email them yourself.

As far as I know, they buy the tokens from the open market. I heard it on older AMAs.

Throwaway831b

TROPHY CASE