Celsius — What went wrong?
6 min readJun 21, 2022
There’s a difference between stated preferences and revealed preferences. The best example of this is privacy. We all say we want privacy but are quick to share private information if doing so affords us some conveniences.
We say we want transparency but live by the philosophy of “ignorance is bliss”. The moment we have someone like Celsius offering us fixed returns we sign up without having any visibility into…