Of course I'm kidding.
Celsius, that centralized platform that promised ease of use and convenience, has showed us all why we moved into crypto for defi in the first place. I can't tell you how delicious it is to taste the tears of speculators who thought they would make a short term profit on Celsius and also taste the tears of newbies who thought they could do an end run around crypto education by outsourcing responsibility to a centralized entity.
Congratulations to the geniuses at Celsius who managed to destroy confidence in their network by being completely opaque about a network issue that occurred between the 11th and the 13th. For those who don't know (or refuse to use Celsius because it is basically a government tentacle), the entire network took a dive and refused to be truthful about the reason it went down. Hey, at least with a centralized network, you have someone at which to direct your unread angry email.
Why do people still give their hard earned money to protocols like this? The entire reason for crypto is to get away from centralization so that the rules can't be changed on you at a moment's notice based on someone's whim. This is exactly what happened to Celsius, and smart money is leaving it right now. As the old wives' tale says, when someone shows you who they are, believe them.
Most people are into Celsius because the protocol is offering better interest rates than traditional banks for relatively safe investments. As you can see, these investments are actually not relatively safe. What's more, if the Ivy League graduates running the show somehow can't come up with a solution, you are in the same place as you would be using a traditional bank. Meanwhile, those who take a few hours to learn the true advantages of crypto will never have to go through a blackout and loss of funds like that. Never. We now have technology that allows you to completely sidestep crap like that, newbies. Wake up.
Choosing centralization because of convenience will punish you in this era of financial innovation.
