Semi OT: Anyone lose money in the crypto crash?

[bboyskinnylegs]

I wonder if governments will use these failures to increase regulation and promote CBDC's as a 'safe' alternative.

[hyper316]

Luckily I didn't keep anything on CEX.

I used CEX for on/off ramping (fiat). When peer-to-peer payment gets more popular, there's no need for CEX.

[deck]

It you want to go deep on Crypto, NTFs, Bitcoin, this video is solid:

https://youtu.be/YQ_xWvX1n9g

There is so much misinformation throughout the crypto industry. There is lots of potential for the technology, but also so much that is just BS.

[refshateRaps]

I dont recall these posts during market corrections in the past? It's really nothing new.

Its called a golden buying opportunity for patient investors and insiders. You also haven't lost a dime, if you are not adding then don't look at a chart for a few weeks.

Our future slave system upgrade into Crypto currencies is certainly not going anywhere, no matter what market related doom and gloom is being spread to scare people near the bottom of the market turn

Those that run the markets just needed to make as much money as possible off retail suffering before going up.

Again nothing new. Congrats on likely calling bottom!

[kj_]

OTPP wrote off the ~$100 mill they had in FTX

It was part of their venture fun, thats nothing for them. They're worth $250 billion.

0.05% of portfolio


Sent from my iPhone using Tapatalk

[refshateRaps]

Market bottoms are never fun for those not waiting with cash. As they are intended

When playing in the playground at the root of all evil, extra PAY-tience is key. Blood will always be spilled if you wait long enough. Again, nothing new. I truly believe anyone severely underwater is very safe with crypto (for a couple years atleast). Just focus on other things while it turns & stay away from social media fear mongering. I loaded many cryptos here.



Best of luck to all RealGmrs.

[TravisScott55]

This thread showing me most of you dont understand what a recession is

[Darkseid]

Crypto just seems like gambling to me.

[720]

More interesting question, did any of you have an account on QuadrigaCX? lol I did.

[MessiahUjiri]

I wonder if governments will use these failures to increase regulation and promote CBDC's as a 'safe' alternative.

This will absolutely happen. There are already several hearings scheduled at the SEC, CFTC, and in Congress about how to put proper “oversight” into crypto. And the safest digital currency will logically be the one issued by the government.

As an unrelated note, there were so many NBA players entering into crypto partnerships publicly. Even had Spencer Dinwiddie asking to be paid in Bitcoin. It would have definitely been a subject in the locker rooms.

I wonder how many players own crypto privately.

[Harcore Fenton Mun]

Meh, I don't get the appeal. It's like cash, just completely traceable and way more speculative/volatile.

Oh, and no laws to fall back on if "FTX" happens.

[bboyskinnylegs]

More interesting question, did any of you have an account on QuadrigaCX? lol I did.

I did. Luckily I always withdrew any purchased crypto immediately, and wasn't affected when it went under. Wild story with what happened with the founder though.

[720]

More interesting question, did any of you have an account on QuadrigaCX? lol I did.

I did. Luckily I always withdrew any purchased crypto immediately, and wasn't affected when it went under. Wild story with what happened with the founder though.

Same here. Im sure my personal information is in some laptop somewhere.

[KL78192020]

This cracked me up, the right anti regulation anti government guy begging for government regulation. O'leary is a clown, dude has sh*t on all gov't regulation saying we're over regulated, especially after the 2008 financial crisis rules created. Now hes flying to Washington to beg Democrats for regulation.

Watch on YouTube

[Potential]

Been saying it was a scam for years now. It's better to bet on sports

[Roco14]

Um yeah this was a crash but it went from 21K to 16K... Wouldn't compare this to 2008. Pretty sure it was a much bigger deal when it crashed from 68K to 21K in the last 18 months or so.

[ImissJordan]

Not sure how many who flippantly denigrate cryptocurrency actually understand what blockchain is or what use cases it holds - they’d rather just paint the entire crypto market as a “scam” and pat themselves on the back (when there’s a bad news story) to justify their own ignorance.

This is about an insolvent exchange, it has nothing to do with the actual technology itself. Whether said technology will eventually be mass adopted (or if something better comes along entirely to replace it) has nothing to do with this.

Just spend a little time to research Mt Gox or QuadrigaCX; this isn’t the first time a major platform in the crypto space has short-circuited, and yet it has found resiliency in spite of this. Zoom out on an all-time BTC price chart to find the four-year halving pattern(s)…this cycle has already repeated itself several times now.

Bitcoin, Ethereum et al remains a speculative and unregulated investment vehicle and due diligence (along with a healthy dose of patience) should be applied.

[KL78192020]

Not sure how many who flippantly denigrate cryptocurrency actually understand what blockchain is or what use cases it holds - they’d rather just paint the entire crypto market as a “scam” and pat themselves on the back (when there’s a bad news story) to justify their own ignorance.

This is about an insolvent exchange, it has nothing to do with the actual technology itself. Whether said technology will eventually be mass adopted (or if something better comes along entirely to replace it) has nothing to do with this.

Just spend a little time to research Mt Gox or QuadrigaCX; this isn’t the first time a major platform in the crypto space has short-circuited, and yet it has found resiliency in spite of this. Zoom out on an all-time BTC price chart to find the four-year halving pattern(s)…this cycle has already repeated itself several times now.

Bitcoin, Ethereum et al remains a speculative and unregulated investment vehicle and due diligence (along with a healthy dose of patience) should be applied.

So aside from BTC and ETH do we just ignore the hundreds of other cryptocurrencies?

[DarrylFlicking]

Not sure how many who flippantly denigrate cryptocurrency actually understand what blockchain is or what use cases it holds - they’d rather just paint the entire crypto market as a “scam” and pat themselves on the back (when there’s a bad news story) to justify their own ignorance.

This is about an insolvent exchange, it has nothing to do with the actual technology itself. Whether said technology will eventually be mass adopted (or if something better comes along entirely to replace it) has nothing to do with this.

Just spend a little time to research Mt Gox or QuadrigaCX; this isn’t the first time a major platform in the crypto space has short-circuited, and yet it has found resiliency in spite of this. Zoom out on an all-time BTC price chart to find the four-year halving pattern(s)…this cycle has already repeated itself several times now.

Bitcoin, Ethereum et al remains a speculative and unregulated investment vehicle and due diligence (along with a healthy dose of patience) should be applied.

So aside from BTC and ETH do we just ignore the hundreds of other cryptocurrencies?

BTC is the invention. BTC is not crypto. Decentralized community is the value proposition. It has potential to be greater than currency, with application to security, property, fractional ownership, human rights.

Everything else has borrowed from the BTC open source code, and appears to be in a rush to grow their ecosystem.

ETH has more present utility (Smart Contracts, DeFi, NFTs, etc.), but has already sacrificed decentralization for efficiency. Be careful.

I don't see any value in any other "crypto".

[metafisical]

Quote from Reddit: "Bears have predicted 10 out of the last 4 market crashes". Diversify, keep investing, change your investments as the markets turn or ride out the wave, and think long term.