5% weight

To me "the future of consumer credit" is more like Bloom than Celsius. Indeed when you go to the Celsius website it seems the product is more being marketed as a way to earn interest on your wallet by loaning funds to investors on the fly, especially to back shorting.



I can't honestly believe that regular consumers are going to want to hold cryptocurrency for 7% interest when they also have to deal with wild fluctuations against fiat. There's no glory in buying 1.0 BTC today and having 1.07 BTC in a year if BTC price crashes to 1/10 of what it was in that time. IMO this is clearly targeted at more advanced users who would have been HODLing that BTC, ETC or whatever all that time.



Also in case you think that borrowers can get a great deal note that it seems as well as the 7% interest they also need to pay an additional 5% operations cost to Celcius plus 5% insurance against bad debt (which I assume is less for lower risk borrowers). While pay-day loans are definitely a lot more expensive than this unless Celsius is planning to loan fiat tethered coins I can't see this being suitable for any regular consumers.



I don't like that the whitepaper needs me to give up an email address to get a link. That's the first time I've ever had to do that.



So far there is no evidence of actual product. They only list two true developers on the team, the rest are biz and marketing types. The seem to have some strong links back to the FinTech world - including Alex Mashinsky who has real experience building companies and raising money. You'll need that for sure with a product like this because it isn't going to bootstrap on its own IMO.

+3 Agree +3

+2