Bitcoin Forum

What you think about this new FUD roaming around.

You can't hold crypto in private wallets anymore ?

Maybe this is the reason crypto market is Falling.

Or there is some other reason behind ?



  

This dump is made for us to buy more and I can still hold my Bitcoins in my private wallet. You even can not take it from my cold dead hands

Go ahead. Try and ban holding Bitcoin in private wallets. Try and ban people from using Bitcoin. Try and ban Bitcoin.

It's all been tried before, it's all not worked before. Sanctioned addresses, banned exchanges, banned trading. It's all futile.

This is good news. I've always said this. Every attack on Bitcoin makes it stronger. Every step taken to prevent people from using it forces them to seek out means to do so and in this way, educates them.

Simply put, Bitcoin being attacked means that it signifies how important Bitcoin is to people who feel threatened. Therefore I agree if this brings a positive value where we can collect more Bitcoins at a cheaper discount. Besides the number of our holdings, of course, when else can we buy Bitcoin at times such as the correction that is happening now. The problem of decreasing price value in the portfolio does not mean it will disappear forever, because the number of Bitcoins in the wallet never decreases. This is only a temporary value so what are you waiting for. Buy the dip.

Of all the FUDs I've heard, this has got to be the worst one ever.

How can one ban or restrict users from using private wallets and getting bitcoins in them? They can ban exchanges, the trades to fiat, and all those other things, but they can never restrict or ban people from using bitcoin and private addresses.

It's like saying people can no longer use purses to keep their coins because the government doesn't want them to, or because the coins no longer fit on the purses. It's just absurd.

Every FUD that appears after the other gets dumber and dumber, and proves that they are already running out of ideas to bring bitcoin down.

I never thought it would be possible to restrict the use of personal wallets.
FUD is made by people who do it on purpose. when the market falls then there is a great opportunity to enter again at a lower price.
I never worry and still keep my BTC in my wallet. and no one will ever stop me, or anyone else from doing the same.

Before getting involved with crypto, we all know that it is volatile and unstable. It is one of its characteristics, either you enjoy the hype or panic for the rest of your assets. I think people try selling because its a bit of a fall. In line with it, they think they are trying to save what they already have. haha. Lets just sit back and hodl for now, try to buy at the cheapest. People should try not to be alarmed every time there is such a drop. Its nonsense, more for us maybe.

I dont think people are fool bringing bitcoin down 15k in several hours there maybe some truth behind it.

Overall you are a citizen of a country and as a responsible citizen you have to follow rules implemented there.

But not allowing to own private keys is not a normal statement, it's better to ban crypto instead.

If it become true, Its like you can work/invest in crypto but we will own the private keys.



  

apparently this rumour originated in India, no? are they doing this because they couldn't ban cryptos at all? i could see this causing some panic among crypto users in India which escalates into a massive selloff like the one we're seeing right now.

Man, we went from china being the main hub for crypto FUD to India now taking that spot. Well, sooner or later the market will get tired of the same bs over and over again and will no longer care about the news coming from india, just like it did with all chinese crypto related fud (for those who don't know, there was a time when even the stupidest fud coming from china would cause a crash). Who do you think will become the next big fud central? some european country? another big player from asia?

The price fell very rapidly, so the reason must be very particular, and not merely volatility. So let's look at the news. CNBC  (https://www.cnbc.com/2021/12/04/cryptocurrencies-bitcoin-and-ether-prices-drop-sharply.html)is ridiculously tying the drop to Omicron, even though Omicron is clearly not a big enough deal, has not reason to affect Bitcoin, and is only a variant of concern that was also announced almost two weeks ago, whereas a drop was swift and happened today. Bloomberg  (https://www.bloomberg.com/news/articles/2021-12-04/bitcoin-plunges-more-than-20-amid-tumble-in-cryptocurrencies)does something very similar, but also mentions a general tendency of unstable financial markets, and a potential clue about Singapore. I couldn't find anything more, but I believe that for a quick drop like this, there must have been a direct event (news, probably) that caused it. What's that about private wallets? I didn't see anything about it online but this sounds like FUD that could potentially result in a drop like this.

A link to one of those FUD news articles would have been appreciated so we can take a look at those "reasonable" demands. ;D
I thought that the recent drops were somehow related to the new COVID variant that was discovered and which is also affecting the stock market right now.

I had no idea that someone was trying to ban private wallets. Just use the opportunity and increase your holdings with a 20% discount if you believe in bitcoin.

Yeah, me too, I thought the drop was due to the seriousness of the new Covid-19 variant that gripping Europe and Africa and not to these 'you can't hold your private wallet' FUD.

Anyhow, I try to do a search about it: https://www.reddit.com/r/CryptoIndia/comments/r7y34v/so_apparently_private_wallets_are_gonna_get_banned/

But still for bitcoin holders, this doesn't make any sense at all.

I was also interested in the reason for such a sharp drop in prices in this market, but I could not find anything specific. However, there must still be a reason. Perhaps a significant amount of bitcoins were thrown onto the market for sale, or maybe the whales agreed on such joint actions, which is most likely in this case. Too sudden and sharp drop happened. Bitcoin has dropped by 17 percent in the last 24 hours and its price is more than $ 47,000. It is hoped that such a fall will be short-lived.

if someone was 5steps up and then now 4 steps up.. did they fall down, or take a step down

dont think of a dip as a fall/crash. think of it as a discount period or settling back nearer to value instead of premium

no one should fear discounts.
would you really cry if your cars gas price got cheaper, knowing in the end it will go premium price again

The news follows the price, no matter how bad it is, it definitely will not cause such a drop. It seems that something has happened or will happen soon, meaning either it is an attempt by whales to buy at a low price and then pump the price to make a quick profit, or someone has sold at levels of 57K

In any case, listening to all this news and analysis is a waste of time because we will try to understand something that has already happened, the most important thing is to buy more Bitcoin.

Where do you see this kind of FUD. I believe only newbie will gonna believe on this kind of news and also crypto market is not shallow that can be affected by useless FUD. The real reason why Bitcoin started to turn bearish is because of the new threat of Pandemic. Global market is crashing non stop due to panic of new pandemic outbreak. This new variant "omicron" is making people panic because we all witness how devastating the first covid 19 outbreak on global market. Everything will fine once there's a new vaccine develop to counter this new variant.

Do you think this is a disadvantage?
Well, think again.
I guess there's no relevant news that creates FUD to pull down Bitcoin price, infact the speculations in crypto space has always been very bullish. It just happened that a huge sell off happened, thus normally and will always affect Bitcoin's price.
This is kinda normal for Bitcoin and this is the highly anticipated by the bearish people and this might be the start of the bearish season.

Another fud? or just make up stories? maybe this is one of the reason but I don;t think this create a huge effect on the bitcoin price, maybe the huge reason is many people got afraid for the dump itself nothing else more so hopefully we can see the storm became calm since if this still exist then maybe the other adopters will think twice if they adopt bitcoin or not since the volatility is so high and that is bad for certain adopters especially if they don't know how to counteract on the dumping market.

It seems that people is afraid of falling of bitcoin within this interval of two days been yesterday and today, let us not be afraid or rushed to sell all our bitcoin because of decrement right now, it's obvious that this is the methods of bitcoin even all cryptocurrencies from on set, let us endure and not to panic to withdraw our bitcoin in our wallets, because we don't know what tommorow might define bitcoin for, it's possible that it might trace up within some days, because it's indeterminate currency which no one can predict it's values fully.

It's unbelievable that anyone can believe such nonsense at all - and let's start again to reconsider whether someone can forbid me or you to have Bitcoin in your full non-custodial private wallet?


https://i.ibb.co/1nxyryJ/1.png

How about this? If you are interested in something more about it, I suggest you visit the WO board (https://bitcointalk.org/index.php?topic=178336.msg58615957#msg58615957) and find out a little more.

See how many times Bitcoin fell deeply in 2017 bull run?

Endthefud (https://endthefud.org/) can give you good list of articles to understand more about fud in crypto. I don't see how this fall today can be a worst in history of Bitcoin or is a signal of bull run ending.

I believe the whales are cashing out for big Christmas shopping and panic sellers soon following suit lol. It dipped somewhere $42k before hanging on around $46k to $47k+. But that’s just my opinion of course, coz’ Christmas is coming anyways.

Well, that was a dumb reason to be stated as FUD, it's like whoever made it assumed that the person they were trying to scare was as dumb as them. Honestly, I won't deny that there's some part of FUD here with the dip (as always is) but your reason is definitely one of them. Honestly, this dump is just, as others have said, an opportunity to buy more. Bitcoin has so far not disappointed us in the growths that it has experienced over the past years. Just zoom out a bit and that should be proof enough.

All the market is dump today ... Not only Bitcoin. But every time in December market is doing something new. In previous December Bitcoin was in dip . But it doesn't mean that Bitcoin is fud. So don't worry keep hold it high tight.

It was a flash one, but those with the buy orders were very lucky to snatch them before it rebounded.

My $50 a day order at coinbase is in.

I also grabbed more coins on PayPal.

I have a unique hedge possible with PayPal BTC

If price drops to about 38k and I sell all my PayPal BTC it would be a short term capital gains   loss giving me a tax deduction of a few 1000 dollars. Since I have amazing capital gains this year it may pay to do this.

The reason it is unique is PayPal BTC is never truly realized as btc it goes in as cash and comes out as cash.  You can not move it as btc. So for a USA holder with a lot of capital gains it is the ideal sell off item.

Personally, I have never thought it would be possible to restrict the use of personal wallets. I never worry about that and still keep my BTC in my wallet. No one can prevent me from doing so, or anyone else from doing so. Those who claim that it will be possible to prevent or restrict the use of personal wallets are in the dark about crypto and its underlying principles.

This FUD is useless, people who do not have enough knowledge and experience in crypto will certainly panic, and I like that because their mistakes are our opportunity. We have had a lot of FUD before, of course, it will result in a market dump but look where we are now, we are still surviving and not only that, the crypto market has grown significantly in just a year (more or less).

Any attack on Bitcoin that doesn't 'kill' it will only make it stronger. Why so much fuss about Bitcoin. This goes to show that the world system is afraid of it's potential. And every time they will attack it, it only gets more popular.
Anyways, the dip is good, it means we can bag more.

It seems we were getting a big discount before Christmas because bitcoin somehow dropped deeper than before, and there are no signs of it going up. I can still hold my crypto in my private wallets and even, I guess this is a big chance to accumulate more amount while we still have a chance. There are more reasons why the crypto market is falling but we do not know the truth and speculate about the reason. If you can not hold your crypto, you can sell it right away and leave the market and come back to the market when the price starts to jump. But you will not have a chance to buy at a low price. The decision will be yours but be careful to decide and make sure you have already analyzed the market movements.

Crypto is volatile. It's dominated by large players who regularly turn dips into large drops to liquidate leveraged players and to scare retail investors out of their crypto.
Personally I think a lot of folks have taking funds out and out them into NFTs, Digital Land plays and Staking projects with crazy APYs. That coupled with the major exchanges being called to Congress on the 8th. Along with all that general market sentiment everywhere is negative for now even in the stock market.

The biggest thing I have hear this morning from people with $100k+ positions is that a lot of it was stop loss triggers.
Bought in the sub $50k price and set a stop at $50xxx or $51xxx and then once they hit the next people with different triggers hit and so on.
Since it did hit overnight in the US there were probably a lot of people who woke up this AM and went WTF?
But, they still make a profit so in their mind it's not the worst.

-Dave

Yup, that's the (small and necessary) price to pay for recognition. They tried dismissing it, and now they're fighting it. Many have already realised they can't, and what happens when you can't fight it? You join it haha.

It's not just about discounted prices though (that's a nice bonus for sure). As I said, it also forces people to learn about the basic things like self custody. If this doesn't cause people to question why the state wants control over their money, I don't know what will.

Where did you find the news? From any cryptocurrency portal? Anyone could make a thread in the forum or Reddit. That doesn't mean everything is true. It's quite impossible to stop using private wallets especially non-custodial wallets. Perhaps the government could prevent using custodial wallets or exchange. But can't prevent using your wallet at all. I don't think this was the reason for the recent dump. It happened suddenly and look like pre-planned. Very big whales played with Bitcoin in my opinion. Otherwise, I can't recall such as dump Bitcoin price. Adding a source would be better once you create this type of thread. So that we can realize whether it's potential or not.

News is real and when it will get implemented then only I can share link till then sharing FUD is not the right way.

FUD:
 
1) No more private key holding allowed.

2) Holding assets in exchanges are compulsory.

3) Cryptocurrencies will be called as crypto assets.

This is all I know till now.


 
 

Don't be a shitposter and read all the answers you got, it's not like you have a few hundred of them and you'll spend hours on it. By repeating complete nonsense like this, you are only showing that you have not realized that no one can forbid anyone to be in exclusive possession of private keys. Bitcoin also exists to prevent such things, every person can be his own bank if he wants to - and those who would obey their governments in anything (however stupid it may be) are not too important anyway.

These are not my words these are FUD rolling around. I am just sharing the FUD to inform that dont believe it yet, what's wrong in it?

fud always exist when market always turn into bearish wherein because of the situation they can intimidate holder easily using false information, it's very often actually in such event, but you know only newbies will fell on that tricks, and you know why they need to do that? Its because those fraud want to bring the price below which particular level they can only afford to buy, and what others doing is to advertise their projects as well. So don't be surprise!.  ;D its normal nowadays..

Maybe you are right this maybe a reason for the drop, this all look interlinked why this FUD come out at same exact time?  

Unfortunately fud as always been there and it wont stop now either! FUD can also be a strategy used by  the big guys(whales) to force a sell off from the weak hands so that they get the cheap coins to grow their bags using fear...its all about standing our  ground to prevent falling for these cheap tricks.


Never heard of this one affecting markets, because for all I know this issue is just concerned with full control of your coins and not linked to the market.



  

Whales will continue to make FUDs that are negative in nature to influence prices so they can buy more at low prices, never believe the existing FUD, it's just a trap.

OP also can't get my bitcoin even though in my cold dead hands lol.

I actually do not know if that's the reason, and of course there is no way to be exactly sure of the reason for a pump or a dump, but if that's truly the reason, then it's only people who are somewhat new to the network that will fall for this, for a long time now there have been a lot of propositions on possible sanctions by governments, some have been implemented, while others are still in motion, but the thing still remains that it can't really affect Bitcoin for too long, it could cause a temporary fall in the price, but in the long run it becomes inconsequential as the price will definitely rise back up again. Having said that, there is no way the government can regulate users holding their funds in private wallets, I believe this is just a ploy to get people scared and worried and to dissuade them from using Bitcoin, we must understand that as far as the government know they can't control Bitcoin, print it or do to it as they please, just as they do with their fiat currencies, they will continually be hostile to the network.

Even IF this were to be true which I don't think it is cos I still haven't seen a link to this, no sane crypto investor would hold their crypto assets in a wallet that would be controlled by someone else. Even the exchange wallet has been argued not to be SAFU for HODLing you valuable crypto assets. Whatever the case is, I strongly believe it is one of them FUDs as usual, and come tomorrow, Bitcoin will jump back on track. 

Oh, indeed! the majority of cryptocurrency investors, not just bitcoin are considering the month of December a time for cashing out on crypto assets. Thus, many people are on high alert to sell their crypto when the market makes a sudden move. FUD is the major reason why many people are selling their cryptocurrency now, they are afraid of losing their money because the market is fluctuating, unsteady.