Bitcoin Forum

Recently I have been seeing a lot of people who are key crypto players for the past few years, backing away from cryptocurrency & mining. I have a few bitcoins, but I have never trusted any exchange. I have bought BTC from people only and currently, it is in my own hands [technically speaking]. I get the whole FTX issue, but if you really are into Bitcoin & crypto, then why haven't you kept your exchange wallets in check? I personally almost never used exchanges. P2P is what bitcoin is really about.

People lost millions, now many key players are backing off. No comments on that as it is a personal choice, yet spreading negativity on youtube & Twitter about the same is pointless. If you have lost something, then somewhere it is also your responsibility. FTX is responsible for cheating people, but people now making videos about why everyone should back off from crypto is not right & is spreading unnecessary chaos in the market. I am not an expert, but this is simply stupid.

There are a lot of channels[pretty big] that praised Bitcoin & mining now backslashing it & people are really getting carried away with this. Bitcoin to the market is just an emotional asset, however, there is more to it but only if people try to see it. Do not get carried away. Think wisely & use proper data.

Most of the NEWS is fake & is a decoy from the government to get people out of Bitcoin.

If we talk about psychological factors, then it is always easier for people to experience a loss or something that happened against their will by blaming others and not themselves. Now all the victims, inside themselves, naturally regret the mistake they made, but not everyone is strong enough to admit it publicly. As a result, so much dirt is now pouring into social media. A few days ago, we saw large withdrawals of bitcoin to noncustodial wallets as people began to learn from the mistakes of others. Do not store your assets on exchanges; this call has long been known to many. But the thought that this will not happen to me has given many people the understanding that this does not work all the time. To some extent, the collapse of the exchange served as a lesson for people not to trust the exchanges, and it is time for people to switch to their own thinking in exchange for the opinion of the crowd, obediently calling for certain actions.

If you trade bitcoin/crypto — especially with leverage, then you pretty much have no choice but to leave a chunk of your bankroll on FTX or whatever exchange. The only problem is if people leave funds on exchange unnecessarily(with funds not being actively traded).

You're not a trader, so you don't really get FTX then =)

And you're not a regular joe who probably doesn't know enough about Bitcoin, or don't trust yourself enough to be the sole custodian of your money. My grandmother kept cash under her bed... but she lived through the second world war, an occupation, and saw what could happen to money (invader chucks one out, in with another, savings gone).

I guess this generation (and mine of the 1990s) needs a lesson...

I am not an idealist and I still use a centralized exchange to convert my coins into fiat. But I don't care about the news and their thoughts. I don't follow it. Blaming others is just a denial over our mistakes.

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And most of the news is orders. Only made to control prices and take profits.

The Internet is filled with so much junk, that's why you must scrutinize this information before it is accepted or applied. Every piece of information needs to be verified before it is believed. It might be very difficult for people that have lost so much money not to be worried but like you advised we must avoid fake news. I sympathize with people that have lost money but they should understand that their health is more important than money. Seeking medical help would be a very good option for investors that have been affected emotionally. The lesson from FTX fall is clear: Never keep funds that you cannot afford to lose in centralized exchange.

Of course, p2p is preferable for the exchange of crypto assets, but even on these platforms it happens that gullible people are deceived by creating "their" exchange conditions by some traders, but exchanges are usually used for trading and here p2p clearly lose to the same spot trading, so it is always a choice between risk and the possibility of obtaining greater benefits.

Most people that preach not putting money on exchanges have their money there. The present analysis around the bottom of the market is attached to where most buy order is, and this is in big size. Is just unfortunate the FTX scam not even hack, and the scammers with billions of dollars theft walk around without threat. It is such a dangerous thing for him cause he has many pain and they take laws to there hands to harm him. Which prosecution by government could prevent.

most of the mainstream news is promoted and instigated by the wealthy who agree to tell their stories to media. which sets the narrative. and yes maybe some are linked to politics

in the cryptosphere however most of the drama are those highly trusting of the DCG sister hood. you can spot it because there is literally very little announced by those folks about the DGC and its status in the contagion.. yet all fingers are pointing at binance. even though it was binance that whistle blew

i dont use or support any exchange. what people should do however is keep a level head and actually delve deep into finding the facts

idiot investors dont care that FTX stole their coin. they care that their stolen coin became public(dream bubble burst) due to binance triggering people to realise they lost their coin. so they put their anger on binance.
for waking them up

dont enter the social dram games of finger pointing away from the problems. actually look for the real problems and become risk aware

trying to plead ignorant and not want to know, is where people then get stressed the most when their dream bubble burst and they are running in circles not knowing what to believe next

knowing the truth and being risk aware can keep you calmer

It is quite hard to prevent people from stressing out due to what happened recently involving FTX. Being neutral means understanding that such thing is unexpected and expected to happen at the same time. Same thing is evident with rugpulls related problems; the idea itself. What we are seeing are people generalizing such that same thing could happen with other exchangers, but in reality it doesn't occur often. There are other big exchangers which are still performing well for this industry. Being worried won't make you comfortable of what you are doing in this industry and may just eventually affect your profit. You just have to be cautious with your actions such as not storing wealth with exchangers. Assets are meant to be put in wallets.

Those who are giving fake news about Bitcoin simply don't know what they are saying and my problem is that they are misleading the people about bitcoin. FTX crash shouldn't be an excuse for this,instead they should be advicing the crypto users not to leave their coins in exchanges because it is not safe there. No matter how people will critize Bitcoin it will still be the best and most valuable amongst all cryptocurrency.

Those who are abandoning the crptospace because they lost their coins in FTX crash are disappointed and don't want to admit their mistake ,some people don't listen to instructions until they become victims of circumstance that is when they will realized that they are been ignorant of the truth.

Those who used to support and even promote Bitcoin but then took a U-turn after the collapse of FTX are probably losing money because of it. They're probably victims of the bankruptcy. Meaning, they have big amounts stuck in there. This is the only reason I can see why this FTX thing could actually turn a Bitcoin supporter into a critic. They are probably bitter because they lost so much. But then it reflects how they have actually misunderstood the essence of Bitcoin all along. So their channels should be a trash right from the start.

It's not just you, I believe all of us here are continuing to use centralized exchanges because we have no other choice. Like traders, their income comes from day trading if forcing them out of centralized exchanges is tantamount to telling them to leave the market. We still use those exchanges as long as we know how to protect ourselves from dangers. You are right, don't blame others when it's our own fault.


Haha, just like the people who regularly preach the doctrine, the vast majority are scammers. I also don't believe the OP is not using an exchange.

Most likely those people that are hostile to Bitcoin will use this opportunity to promote their propaganda and some of their baseless theories. investors should know to distinguish between biased news and legit one because nowadays you always find some news that is against the original plan of Satoshi Nakamoto and their dragging every malicious and scam accusation on Bitcoin. They won't hesitate as soon as they see an opening to criticize Bitcoin whether real or fake news. We as supporters need to clarify it first to our friends and others to prevent them from believing this fake news.

It isn't fake news that people lost their money in ftx, or that they should not hold their money in any online account forthwith; it is also not fake news that many centralized altcoins and tokens of exchanges and all are worthless and they go down once their parent institution falls, or when the few who hold them dump it, these are facts and aren't deniable.

What is not true is when BTC is dragged into it all, there is no way to stop that from happening because BTC is the most popular cryptocurrency, and for people who know nothing, once they hear there is a negative crypto news, they think something has gone wrong with BTC. People lost their money, so they ought to be stressed, and as a result of this, other people should be warned, but in all of that let the news carry the right information, BTC is a network that is resistant to all of these problems happening with centralized services and altcoins; BTC's price is volatile yes, but its network is strong and secure, people who use BTC correctly wouldn't have problems with the network ever.

It's in the human psyche: spread awareness if they have been burned by something even if it's partly their responsibility. Even if it comes off as something utterly negative without expressing valid points, they'd still go out and cry wolf when they already lost a lot. Nothing to do about that honestly, and if people really are into crypto, no matter how much fear-mongering there is all over you'll never really think about it and consider those to affect your choices and your decision on how you will be doing crypto moving forward.

People have been burned because they haven't been careful. A lot of times in the past were we already saying that never ever leave your money in exchanges. Guess what, FTX was a big exchange, and because of that everyone felt they were secure and BAM! The unimaginable happen. Understandable that people will be upset, and some will even go to lengths to swear to their teeth that crypto as a whole is just a fad.

Exchange hacks honestly happen more often than I thought.  Bankruptcies maybe not so often, but hacks do.  It is every few months that an Exchange drops to the ground, but I agree most of them are small.  You have a lot of big Exchanges that have never dropped so far but to me they are time ticking bombs as well.

Imagine hearing Binance got hacked or filed bankruptcy.  Or Coinbase.  Or any other top Exchange for that matter.  All it takes for a hack is an exploit and the right person at the right time.  Hell, it could be an inside job for all we know.  I do not see the FTX drama an unreasonable stress.  Money that is not currently in a buy or sell order, a leveraged position et cetera should not be held on Exchanges.  Many do this to avoid withdrawal fees and deposit waiting times, or just because it is much easier to have everything movable in one click but they are doing it with a risk they should assume.  To me, it is stressful to keep my coins on an Exchange and very peaceful when I keep them in my own wallet.  Even knowing I have to pay multiple bucks every time I choose my wallet instead, it is worth the peace of mind.

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Regards,
PrivacyG

most hacks are not hacks..
.. just CEO wanting to retire, taking he coins with him but blame someone else.

the FTX "we been hacked" just seemed such coincidental timing to want to ship lack of reserves on a hack the days after they got whistle blown that funds were missing due to internal fractional reserving and money shuffling by those inside FTX.

I totally agree with your point of view because somewhere I feel the same thing. If people have lost money in crypto then it is their own responsibility.
If people are depositing money on a centralized exchange then they must be aware of the risks involved with it.
If money is lost on a centralized exchange then it's not cryptos fault in it. Coins are meant to be stored in non-custodial wallets and not on exchanges.
In fact I have few coins on binance and I am aware of the risk which is why the amount is not much.
If it gets lost tomorrow I will feel bad but I won't get depressed about it for days. We should only deposit an amount on an exchange which we can afford to lose.

I don't think it's drama, but since it's out there and people are hearing about it, there will be reactions.
Much like people did not understand years ago that AOL was not the internet instead of just being a small part of it, or that the banks do loan money they don't have, or....
Pick your example. People will learn over time, but it takes time.

At the moment, I think the only people stressed are those who had it all in FTX. And people who bought at the ATH a year ago and thought BTC would keep going up instead of it being another cycle.

-Dave

I agree,the only ones stressed are those who had their money in an exchange and that has been instructed a thousand time in the forum that by doing that it has a lot of risks associated with leaving money in exchanges,like hacks,bankruptcy and many other but for me those are only inside jobs just like I believe for the FTX thing.

People were stressed even because of the impact it had on Bitcoin and crypto as it caused the prices to go down instilling fear again in people that do not understand Bitcoin and crypto the way the are meant to be understood.I don't think anyone from us who own everything in our own wallets which we have 100% control of them and keep holding until the right time to make our moves.

It really isn't fake news.  It's shown how fragile these large crypto companies are that are using leverage and releasing their own tokens to pump markets and cause maximum pain to traders.  Binance may be the good guy now for ripping his playbook out of the hands of FTX, but don't make any mistake, it's the same playbook.  FTX just couldn't survive long enough to release their own stablecoin as they got a bit sloppy and full of themselves.  Binance did the same thing with BNB and BUSD though, they just have been around long enough to make a ton of cash in this game and can (hopefully) keep their bubbles floating. 

Make no mistake about it though, this is reason to panic industry wide.  As the folks with funds stuck in Gemini Earn if they should have hit the panic button as soon as the word Genesis hit the news.  This is the tip of the iceberg for the industry and there are plenty of zombie operations running right now just hoping a run on their services won't expose them.  Don't get caught on the wrong side of the fence.

I don't keep money on the exchanges because there's no need to do that if you aren't a trader  (choosing a non-custodial wallet isn't that hard), but I understand why people would do that. We live in the world full of authorities, and people are used by now to storing money in their bank accounts, where the money isn't really theirs but is managed in hopefully a good way by the company. So it's natural to look for something like a crypto bank, a reputable company, and rely on them. If you have troubles with your exchange account, you can contact support, restore access to your account (if you lost it). If it's a non-custodial wallet, it's your sole responsibility to keep your money safe, but also ensure you don't lock yourself out of the wallet. So why not relieve oneself from responsibility and then blame someone else if things go wrong?

Peeps will obviously go away if they have lost millions in the arena of bitcoin because they themselves know how hard it was to hodl it for years and then loose it all in blink of an eye. I couldn’t see any viable reason here to deny the fact that they are wrong! If they are getting their money back then their is only slight chance the will believe in crypto one more time but that is also just slight chance. FTX drama is serious shit considering it involves the real money and not just virtual tokens mate.

But for those big holders, they should have known that they don't need to trust a centralized exchange with their funds.
Even if we say it is on top, like Binance. You still need to secure your funds using your own wallets securing your own keys.
But we have had countless scenarios of bankruptcy in this market, and yet, many people are still storing their funds on a custodial platform.
Another lesson for crypto users that no matter how big a company is, they can be subjected to an unexpected twist of events, that we may never saw it coming.

As usual anti-cryptocurrency institution will use this FTX fiasco to convince people to back out from getting involved in crypto industry.  Though it is very evident that Crypto specifically Bitcoin has nothing to do with this exchange collapse and it was SBF who is responsible for the mess.  I don't know the reason why they don't blame SBF for being incompetent instead they blame Bitcoin and its industry for the mess these few people had done.

If what you say is true then people are making a big mistake. Centralized exchanges and banks are completely different, the only similarity is that they are both centralized but the bank is sponsored by the government and you can have more peace of mind when depositing money in the bank. For centralized exchanges that is not the case, they are not directly regulated by the government, they are just private companies that don't even have a business license. So exchanges cannot be considered like banks.
You are not a trader so it is understandable not to use an exchange, but for a trader it is impossible not to use an exchange.

If you want to be neutral about everything happening, you don't need to respond to the news you read, especially if it's not from valid sources of information, because we know that many are trying to make people panic. Or if you're worried about getting caught up in the mix, you might as well get out of the market and enjoy some time to do something else and not go near the crypto market for a while. It will be better for you to manage your emotions because if you continue to read news from out there, you might panic and make mistakes that you shouldn't.

It wouldn't be a surprise when they do that because we're doing the same thing with banks, just one bank goes down and we're going to jump in against the whole banking sector, although we also know that not all are like that.


I believe this is just an excuse or rather a trap set up to give someone enough reason to step in and try to control us, not simply an accident caused by the SBF out. Surely in the near future, we will see more regulation as well as more control coming from the government and that is the result of this collapse.

The crash of Luna and FTX were two things that had a tremendous impact on the market. Many investors lost money because of these two cases, but all investors wouldn't lose their bitcoin if they didn't keep them in FTX. This case should be a lesson to anyone currently still entrusting their bitcoin or other high-value assets on a centralized exchange, they should withdraw them to their non-custodial wallet or more likely to a hardware wallet ^{[good security advice]} if they have one.

Instead of blaming others, I'd rather hold ourselves guilty for believing in something centralized like centralized exchanges. Even when someone loses bitcoin or loses access to the wallet it can be considered the user's fault because it may be their negligence and inability to secure their wallet.

one mistake can ruin everything, that's the fact now.
from FTX errors creeping up on all crypto.
investors who experience losses at FTX will definitely be traumatized by something like this, especially those with big losses.
it's not just the losers, there must be a lot of people who are afraid to invest in crypto again, because at this time a lot on social media news media, and in the entertainment media, which fry opinions about this mess, and even worse it relates to all crypto, for sure it will impact the investors.

Not really, until now there are still people who are not connected with centralized exchanges at all. They just keep Bitcoins in their private wallet, but I don't know for how long. It seems they're long-term traders, at least that's what I think.

Currently the best instrument of crypto is Bitcoin. I think choosing bitcoin is the safest option. He can always go back to high prices. Then store it in your personal wallet.

Regarding the FTX and Luna cases, they are part of a new technology that gives an adverse effect due to the problems that occur. If all do not believe in the exchange and withdraw all the assets what will happen? it seems bad. That will make crypto dead and difficult to grow and who will move the price? If that happens the crypto industry will die there is no trust in the exchange. Hope all is well.

so you never did day trade, if you did day trade you would realize that the price can rise and fall at any time and that it is easier to keep the coins on the exchange so that when the price drops a lot, the person will be quick to buy and place stop-loss , how would you place stop-loss if you leave coins in the wallet? I would really like to know if this is possible, as far as I know it is not possible to do this


people need exchanges to buy bitcoin using bank account and people need exchanges to day trade


people are reporting what is happening, they are not spreading negativity


wrong, the responsibility lies with the exchange, when someone creates an exchange and people put money on that exchange to do day trade, the owner of the exchange has the responsibility of keeping people's money safe, you can consult anyone who understands about laws and you will see that that's how it works, i'm not a legal expert but i read that that's how it works


people were deceived and robbed, you wanted them to be silent? they have the right to create videos, post anything to draw the attention of governments and punish those responsible for this exchange


I disagree, most of the news is true, of course there are some that are rumors

Yeah true, bitcoin is amazing and it should be the way out of this mess as well. People are overreacting to the situation a lot and I understand it because there are a lot of people who lost money in this mess as well.

So, if you are one of the people who lost your money on FTX problem then it should be understandable for you to not really be calm right now, you would be mad and you would be angry and you may end up saying a lot of things about bitcoin and crypto as well. However, to all those people who did not lose any money during this period and only got scared because of the market, that doesn't make sense to me at all, they shouldn't be like that at all.

Spot on, not only institutions and governments.
I have also seen people with thousands of followers on Twitter talking very negatively about Bitcoin, saying the downfall of FTX was another proof of Bitcoin being a Ponzi scheme, truly a bunch of nonsense. They are so bad informed that do not even know the difference between Bitcoin and a private liquidity provider / exchange like Binance or FTX.  ::)

I do not trust the news. People who have lost it all in the crypto, it is their own responsibility. It is stupid to trade in any form of currency/commodity without actually having the knowledge about the flow of value. most people who lost it all were in crypto for a quick buck with trading. News & media are propagating the FTX issue as outrageously toxic to Bitcoin & other altcoins.

Bitcoin to me is a trade value in every 5 to 7-year time frame, not every minute.

Centralized Exchanges are just an option.

There is a major difference between spreading negativity and actually reporting what's happening. People on YT are not reporting, they are looking for another topic to post a video about and put ads on it. Yet for tweets about Crypto & Bitcoin, it is just another opportunity to get good reach.

Lastly, I do not play with day trading, stop loss/ take profit or anything else you can describe. Not looking for making a quick buck with bitcoin. It is a technology MOST people don't understand.

& What people don't understand is what they criticize the most when it hurts them.

FTX leaves a lesson for many people but for sure, as time passes by, we forget this and many people will still store their money in an exchange wallet.
I expect a returning event in the future.

But we have nothing to do now other than move on and look forward to the resolution of this issue. And hoping that this could be the last big issue that happens this year, nothing more. We have to accept that things like this are very possible but at least, we get some learning in this situation and it serves as an eye-opening to all of us that even known and big exchanges can be changed. So don't give your 100% trust to them, we have to be cautious enough.

You are very correct without a doubt.  Why have I never lost my coins in an Exchange hack?  I have nothing to worry about, because I am in custody of my own coins.  It is kind of silly to blame others for something you were supposed to be responsible of, I would say.  But how many times did banks file bankruptcies and their customers lost money along our history?    Then why do people keep trusting Banks?  We are so silly!

Would say two things are happening.  These YouTubers focusing on reach and income rather than quality of information and many of them do not understand how Cryptocurrencies truly work.  If you want an honest YouTuber making videos about Cryptocurrencies, find one who does not take all and every single kind of Shit coin sponsorship.  Most of them sell themselves out by accepting to promote Shit coins out of greed.  I do not think there are many of them who actually provide accurate information and mostly focus on Bitcoin and the other Cryptocurrencies that actually have a future and value.

Reminds me of all these 'Climate Activists' throwing paint on art and gluing themselves to tables, concrete and walls.  They have no idea what they are actually protesting for and their actions make zero sense, but they want the attention and they are receiving it.  Similar to how in the middle of the Pandemic there were all sorts of people throwing out and supporting all sorts of information, whether true or false.  There is an entire community of them however, and they are making waves.  This is very similar to the reports you are talking about.  They have no idea what they are saying and they are looking for income and attention.  These kind of people will always exist.

But do not worry, their supporters will also be people who do not understand how Bitcoin works and why it is the future.  There are some people who simply like being stuck in a loop of infinity where they think they understand everything but in reality do not understand anything.

-
Regards,
PrivacyG

I think if you see how people treat cryptocurrency in general, it is a way for them to profit, and in order to provide, you need to riskier assets, and one of them is trading. If you are in the FTX exchange then definitely you are aiming for trading and profiting from your capital in there and you wouldn’t be able to do that if it wasn’t in there.

The best approach now for people is to use decentralised exchanges, but it’s a little more complicated though, so I don’t think a lot of people would be willing to do that 

PrivacyG has described this topic in the simplest manner.
Thanks, PrivacyG

There is nothing wrong with buying bitcoins from centralized exchanges but most people used to hold their bitcoins in the exchange wallet itself is a big mistake, when people aren't having intention of trading the assets should immediately move it to their wallets instead of holding in exchange so they no need to worry about exchange hacks or getting bankrupt.

This recent news is actually creating FUD among the newbies and who are anti cryptocurrency is agitating the situations more like this is the end of bitcoin, even many say bitcoin itself is a scam without any knowledge about what is bitcoin.

Yeah this is going to stick for a while now. In amazon is now making mini series based on the FTX collapse which means we are going to remember the FTX drama for very very long time. I just hope they do it as positive lesson for crypto community and future generations who are the new aspirants to take bitcoin in right direction. They must not make negative impression with this series.

Neither we should keep talking about it any further. I think what’s happen is happen, now it’s time to learn from it and go ahead with more decentralised storyline. :)

A few incidences of corruption are destroying the entire cryptocurrency market. One of them is the FTX incident. I'm not sure if it was drama or reality. However, this type of incident is incredibly harmful to the crypto community. We have faith in the centralized exchange where we trade and hold our assets. But I don't trust centralized money exchange. They can change their terms at any time and anything can happen. We are sometimes forced to use centralized exchange for a wide range of reasons, but funds should not be held there in any case. Many people have learned from history. I'm wishing we can learn something from it.

I dont really believe on lesson learned because people would eventually be repeating on the same mistakes where if these issues wouldnt be heard out anymore then people would just forget it and starting to store up

their coins on exchange platforms or any centralized services which its never been recommended in the first place.We've been keeping on saying that its never been wise to store up your coins on an exchange

but people do keep on doing that until disaster happens and this is where they do just whine and cry and make out some regrets.Some cant just forget these disasters but time would
pass by and when its forgotten then we would see on the same scenario once again.

That is where most people who've lost their money in the FTX incident got a very wrong decision. I'm not really sure if they're going to learn with such incident, but most of the reason why they're holding their crypto in an exchange is because of convenience, whether they have an appetite to trade or to convert. But for traders, it's inevitable not to retain their cryptos for trading.

Though the incident may have caused uncertainties, but it's never gonna be enough to kill Bitcoin.

I wasn't aware of this, and I think it's overreaction to generalizing all cryptocurrenciy aspects is fault. If I could judge, then they should blame themselves for trusting without much thought to the potential risks.
I stay neutral without doing anything, this is easy to do if you don't deal with this kind of platform which is the main reason. Besides, haven't we experienced market crashes several times due to several factors?

You should have been around when MtGox happened, because there were a lot of people flaming Bitcoin on social media. We had the Bitcoin lovers turning into butthurt Bitcoin haters and we had the competition fueling the FUD from all sides.

The whole FTX drama is just an opportunity for our competition and our enemies to misuse this event for their own hidden agenda. I will not be too worried about that, because we turned the MtGox around and Bitcoin reached a ATH of $60 000+ a few years after that.  ;)

   There are easily other influencers on the youtube platform who are spreading misinformation regarding bitcoin or cryptocurrency at this time because of the scandal faced by Ftx which is now closed due to its declaration that the company is bankrupt.

The logic here is simple, if you are a true bitcoin believer, no matter what negativity you see or read on various social media platforms, sure we will remain in our belief in bitcoin and we will still hold it. long-term and no one can stop us from it.

The people who get carried away with bitcoin only prove that they are not deep in understanding this matter, it's just that simple and easy to understand.

Even the traders shouldn't be holding their entire portfolio value into the exchange wallet, they can keep their day trading and short term trading crypto assets their and move the others to their own custody is really important and I beleive most people affected due to FTX might learn this but the real thing is the upcoming people never take this as serious until they became a victim too. Like if everyone who is into the crypto learnt about Mt.Gox then there won't be much loss for the users.

Regardless if the news is true or not, it really influenced the whole crypto market itself. The whales are usually taking advantage of it by causing us to panic sell before they buy at a targeted price. This is why the market is so volatile regardless if its bearish or bullish, so we may not know withiut warning regarding the movement of the price whether if it’s Bitcoin, altcoins, NFTs, etc.

Yes, not all of us, there are still some people who prioritize privacy, and they are just holders so there is no reason for them to use a centralized exchange. But in this market 90% are traders and they make profit every day through trading, how do they make profit if not using exchange? not to mention new investors will definitely look to exchanges as that is the easiest way for them to access the market. The trends, the projects, their ultimate goal is to be listed on the major exchanges, that's why I say that getting rid of centralized exchanges is impossible.

I find it very difficult to accomplish what you are trying to with this topic though.  Someone who is so narrow minded to believe anything a complete stranger says without verifying multiple sources and to believe they know everything about a certain subject they actually never studied about while also only reading click bait article titles instead of the articles and listening to nobodys talking B S about how Bitcoin is dying is going to be very difficult to convince they were wrong all along.

Also, many Altcoin holders keep their coins on hot wallets like MetaMask and Trust Wallet.  They do not get the importance of self custody cold storage because we entered a phase where everything grows and moves at an extremely fast pace so self custody is seen as the 'slow', boring way.  It is not a way you get 9000% APY.  It is not a way you can buy and sell within one click.  This is what hype asks for and ultimately it is a giant risk to assume.  But why assume the risk you take when you can blame others for your lack of capacity to store a coin properly.

Then of course we are talking about people who jump in any kind of project just because 'Decentralized' is part of its name or general description.  'Decentralized Exchange', which is actually only partially Decentralized.  'Decentralized Cryptocurrency', sitting on a highly centralized Blockchain.  And so on.  Unfortunately, misinformation is widely spread around this word.

All they really need is to watch YouTube videos explaining Bitcoin the simplest way.  We are talking about investing around quarter to half an hour understanding Bitcoin through 3 to 4 videos.  That is all they need to understand why Bitcoin is unavoidable and why the one to blame in case of hacks and bankruptcies are the customers themselves for trusting.  Bitcoin does not require trust.  You trust nobody other than yourself.  But how do you convince someone about this when all they see is the attractive 'Decentralized' and '12000% APY' everywhere they look.

Personally, I have just as much sympathy for most of them as I have for people who store all their wealth in the Bank.  That is a huge risk I am not willing to assume.  If the Bank screws you up, it is your fault for trusting.  I rather trust myself and my own actions instead.  What sucks is some people are just there at the wrong time.  Imagine you deposit $10,000 on Binance and a matter of seconds later Binance gets hacked.  That is terrifying.  But still, was it not a risk you assumed by trusting a third party?

If we all took this time and effort put into these stupid Altcoin scams and focused all our energy on the evolution of Bitcoin and using it the way it is meant to be used, we would make so much more progress overall as a community.  Greed is a very attractive B**** and that may screw you up one day.

I like what you are trying to accomplish, but you are going to struggle with it.

-
Regards,
PrivacyG

There are many things to say regarding the drama that happened to FTX and meant people got a lesson from this story while many others lose their hard-handed money just in a few minutes, the most important and first thing we can learn from this drama is no never trusted any platform's security even the most popular one, however, FTX was not the most popular platform but it was definitely one of the most used platforms while they promised people about the security, now everyone loses money while this drama even affected the bitcoin market for little.

There's only a small portion of people who will learn from this, just like what happened to the exchanges before. When people begins to trust a certain exchange and became comfortable with it, they tend to forget what will happen to their funds once the exchange decides to shut down and run away with their money.
This drama is kinda similar to what happened with QuadrigaCX if you watched it's documentary on Netflix.

Well sometimes for some people you have no choice but to trust your coins to stay at the exchange , limited knowledge .. limited source etc. Not sure who's going to blame at this point , both sides? Ftx might be a tiny picture on how the whole crypto space collapses ... some says .

That creates even more great FUD and the clever one take the advantage out of it, pick your side.

At the request of the US government, on the basis of a sealed indictment registered in the Southern District of New York by the law enforcement agencies of the Bahamas, on December 12, FTX founder Sam Bankman-Fried was arrested, so at least the prosecutor of the Southern District of New York Damian Williams states.

https://twitter.com/SDNYnews/status/1602451395910803457
https://i.imgur.com/0GlRK8z.png

The arrest of FTX CEO Sam Bankman is also confirmed by the prosecutor of the Bahamas, Ryan Pinder, it is expected that he will be extradited to the US.

https://twitter.com/jasperward94/status/1602446607085350912
https://i.imgur.com/BgDuJ7K.png

Impossible to stay neutral, when FTX drama is shaking cryptocurrency market. The more person tries to hide from all those FTX news, the more FTX related news he will notice. The only way to try to stay neutral is to sell every possible cryptocurrency holding, and even then a person would feel pity or greedy, when he will subconsciously check crypto prices. After a first cryptocurrency purchase, it is impossible to leave cryptocurrency boat or stay neutral. The proper solution in such dramas is to search for new opportunities.

Victims will surely learned their lesson, but newbie and naive investors will always repeat what other had done wrong like holding cryptocurrency in an exchange.  Since they are new in the industry, they probably lack knowledge or too trusting in the exchange they are using.



True, newcomers keep on doing the mistakes done by others.  Even with all the reminders and discussion about not keeping cryptocurrency on exchanges, they will ignore these reminders and regret when they lost their investment due to hack, rugpull, exit scam or bankruptcy of exchanges.

Sam bankman fried was officially arrested by the Bahamas police for the FTX bankruptcy case and also the sole actor for the losses suffered by his clients who traded on the FTX exchange. This news has spread widely on social media and this is the end of the drama that has been made this year. I am not even surprised by this news indeed he deserves to be arrested and punished for what he did. Many people have been victims of the FTX collapse this year and many of them are not only beginners but those who have been involved in the crypto world for a long time have also become victims of this incident.

so that there are many valuable lessons that serve as points for us to remain vigilant in placing assets on exchanges even if it is a large exchange. Therefore, after making a purchase, immediately withdraw your assets to the wallet that you have the key to. there's nothing else to say but to remind not to be the next victim.

and in the end he was arrested too, after several weeks of still enjoying the free air without feeling guilty. The FTX victims are of course happy with the news of SBF's arrest, and they will also demand compensation, but whether they can still return or not is still a matter for the authorities.
people who have lost money because of FTX become stressed and until someone is desperate to commit suicide because they experience bankruptcy and lose all their assets. We hope that several related perpetrators must also be caught and given appropriate punishment and fines.

A new chapter will begin, we have just seen Sam Bankman Fried arrested, for sure at every trial he will continue to sing who will be involved in the incident. In fact, I think all of the employees working under Ftx will be investigated and also the outgoing flow of funds will definitely be a meeting point in the future. we are just waiting for this case to come to an end where it will be seen a certainty of clarity from the beginning of the incident that occurred on Ftx. indeed, if you remember, this case is very regrettable that it could have happened so quickly after terra luna because Ftx is the second largest exchange after Binance but sam bankman has done ridiculous things behind the scenes which have made all of his customers suffer losses.

this is the link posted by saylor on social media twitter i think sam bankman went through a lot of ridiculous roads before he really fell https://www.axios.com/2022/12/09/bankman-fried-funded-crypto-news-site-block?utm_source=twitter&utm_campaign=editorial&utm_medium=social

Of course, Sam Bankman Fried definitely deserved to be punished for the unauthorized use of funds entrusted to him by clients, with which he bought up falling companies and does not play a role for what purposes he did it all. Tens of thousands of people who lost because of his actions also want to see him in the dock, by the way, he could face a sentence of up to 20 years in prison and he was refused bail for $250,000.

https://www.reuters.com/legal/bankman-fried-appear-bahamas-court-us-unveil-charges-2022-12-13/

https://i.imgur.com/FKWw8R2.png

He invested in the wrong companies or should I say not profitable ones.
Maybe if those companies earned huge profits, he won't be on this situation.
Because he can return the assets what he had used. But the problem was he used money that was not his.
Good to see if SBF will go to jail, but will his customers get something back from those funds that were lost?

People who have lost money in this crash will inevitably face stress and depression. They just lost money, they can't help it. People who spread FUD and hate against cryptocurrency because of issues like these surfacing in the mainstream media could be controlled however, be made to realize that bitcoin isn't all scams and taking advantage of poor average joes all for the benefit of a single person. It's a good thing that for one, SBF is already arrested and is projected to face consequences for actions he committed that led to the demise of this massive exchange. So the future is looking a little bright than what people would expect.

Unfortunately this is a stain in the reputation of this market that is not going to be easy to erase, while the collapse of Mt Gox was bigger in terms of the coins that were lost and at the time it was way more influential than the FTX exchange, at the same time this market is way more popular now and the losses in terms of fiat are bigger as well, so it would not surprise me if this single event was enough to scare a lot of people away from this market and as such delay the appearance of a new bull market.

Then I hope this could give some peace of mind to the investors and start a new beginning. This is what we could the risks of investing and storing our money in exchanges, they became an example and got punished as they deserved for it. Unfortunately, together with his arrest we also lose hope that our money will be back. His unbearable and incapable management brings doubts and ruins the whole crypto market, this could be enough and put him as an example that no one will escape from the law.

Its part of the history which it isnt really something that could really be deleted or forgotten which you are right on what you have said because it is something that cant really be easily not to look back.

You cant really make people avoid not to get stressed on times like this specially it does really affect market overall confidence and trust which would really put some hinder in overall recognition and acceptance

in cryptocurrency in overall due into these kind of situation and circumstances.This is why i cant really blame out people not to get stressed anytime they would be seeing
these declines due to this unfortunate events that do happen on this market.

I'm sure their anxiety and stress levels were very high when it came to yesterday's FTX problem. Because, because of all that, lots of people immediately lose their money quickly, in a very fast time. They were frustrated and felt they couldn't believe it because the number 2 exchange in the world finally failed and crashed in just a matter of hours. The crypto world is sometimes cruel. That's why we can't blame what happened to them.

But exactly, this is nonsense by spreading FUD and negativity of Bitcoin and crypto as what happened to them. They may use this chance to make people aware that crypto is risky, to be more careful, and do some strategy to face this similar condition in the future. But, they don't need to spread any FUD again. Although we have been usual with the FUD, in fact, the FUD will be always influencing the crypto market as always. 

indeed lately many people have withdrawn from crypto, because they are tired of always  losses when investing in crypto. and as a result of the collapse of ftx, not a few people lost and that must have caused deep trauma, especially if our invest with large capital, our heart and feelings will surely be even more tormented. and I personally due to the collapse of ftx I suffered a loss of 70% of my assets.
but I will not give up on investing in crypto. and the experience that I have made me believe that only bitcoin is right to be used as an investment vehicle.

Not always though, maybe majority was really duped by SBF in this case as the unsealed documents really points to him as the reason why it failed and collapse.

Yes, not just because we have lost money here doesn't mean we should give up. Maybe we should learn from our mistakes and not to repeat it again. As for the stress, it's natural reaction, but who should remain optimistic that somehow we can bounce back specially in the next bull run.

Sam is arrested, but that doesn't change the fact, the money is gone & not coming back. It is pointless to wait for him to end up in jail, then what? There needs to be awareness among people, now that the money is gone, it was their fault to be trusting a so-called entrepreneur. It is time to change the whole perspective about trusting centralized exchanges. The whole point of CryptoCurrency when introduced by satoshi was of * trustless & p2p *. It is kind of a task, it will take time.

Sooner or later many more of such exchanges might collapse for some other/similar reason.

Something is not adding up, Kevin O. Leary who also lost millions on the FTX crash is now after Binance CEO saying that CZ is responsible for the FTX fate, like CZ did it intentional and if CZ was silent the whole thing would have go on and become a success? I am quite lost with this man aim right now.

I think Kevin O. Leary is responsible for the Binance massive FUD withdrawal that took place days ago, he really wants to hurt Binance exchange by all means. 

No amount of counter campaign can be raised against bitcoin by anybody since bitcoin is independent of anyone as well regardless of country which is why we all benefits the decentralization it offers, in making research, you don't have to limit the extent your how far you can go in making research, there are alot of factors that can discourage or deviate your search and interest on bitcoin, such from government counter campaign against bitcoin, altcoins distractions, ponzi schemes allegations among many other things you could cone across with online that actually talks opposite about bitcoin, but learning is as good as taking it from many sources and looking deep into the past records it has over years, you may also need someone to testify and encourage base on experience in dealing with bitcoin.

Perhaps, they are too afraid of lots of negative news attacking crypto that they want to withdraw from crypto immediately. But there are still people holding on to investing more in crypto because they feel it is the right time to buy more. You are not alone because I'm sure many people have also experienced losses as you have, but we must not give up because there will come a time when crypto will rise again and provide us with big profits. We'll have to survive while collecting more and more if we still have money. But if not, we don't need to force ourselves to invest, we just have to wait.

Yes, I agree with you, even though the 90% figure is a little weird for me, haha. Shouldn't 100% of the market be traders?
And the past few days I've been thinking that their real goal isn't doubling BTC but increasing their fiat money fast through Bitcoin and altcoins trading.

That is for sure but there will be some who will overthink and think that SBF is having a good time inside the prison. I mean he may be treated like a king there, where he have access to gadgets, internet, good food and others like what we mostly see in the real world.

This have happened on some prisons/prisoners before and this practice might still be ongoing. SBF is not with us now but maybe he have a team which he can order to pay back his old customers. There was also a rumour that they will create a new token. I think this serves as a compensation for those who lost their money. If all fails then I guess, that's going to be the time to move on.

If you want high returns then you have to take high risks, nothing is easy and free in this world. Those who cannot withstand large losses should leave the market as soon as possible. In a game where there are winners and losers, you can't expect everyone to win. Those who stay at the end are the ones who deserve the reward.

We need to be strong. Those who want to take risk then let them take the risk since with that you can learn and also earn. As I've always saying , how can you be rich or gain huge money if you stays on your comfort zone, not taking any risk at all. But it doesnt mean that we need to lose big , this is where risk management comes and also knowledge on how to lessen the risk, risking your money alone is not enough you should have strong knowledge on what you are investing to.

I think you must be an old timer because only one of those can be so calm and composed during a crisis like this.
Even I am not so stresses about the FTX collapse but I do wish that the impact of it is over soon because there is a lot of collateral damage.
The FTX collapse has awakened many people who kept their coins on an exchange. People were taking exchanges for granted which is why they are paying the price for it.
Although this shouldn't have happened but somewhere it is their mistake as well. They say "not your keys not your coins" for a reason and this is a wake up call for everyone.

What contributed to the Youtube negativity was that the majority of them were all affected and I think the fight was between the Influencers and retailers due to some altcoins SBF invested in and the ones they bought and left on the exchanges, what even makes it worse is that most of the Twitter and Youtube influencers got affected because there life savings where wipe away from their balance in the FTX exit exchange, remember FTX got them with huge bonuses and they all felt for it
They were busy shilling for the FTX exchange, they keep pilling up the bonus but greed didn't allow them to withdraw them and when the exchange becomes insolvent overnight, they all became sleepless with the bear market. One bitcoin remains one, all this market winter doesn't change the narrative of bitcoin.

There are many reasons behind people are just panicking because news is a thing that makes people fear and the start to panic and than the go for sale orders. In this way they are able to crash market. SBF arrest is a big concern cause he was a big celebrity and his exchange was among one of the popular exchanges too. That makes people more fear cause they do not have to trust anyone.
FTX attracted many big investors loosing billions of dollars and that was not good.

Some of them have lost their savings due to the FTX incident. The market has not fully recovered from this case because if you monitor the market movement, it will slowly strengthen and then fall again. We will continue to see news about ftx and fud circulating quite loudly out there especially recently that binance has been attacked by fud hard enough that it continues to haunt weak hands in situations like this. The crypto industry is constantly being attacked by fuds because they keep frying negative news for reloading.

as op said, market participants will continue to be worried if they still trust third parties for their assets and one of the positive options may be that the situation will change completely if they do not trust third parties for their assets.

Unfortunately, these infulencers basically switch their opinion on a penny too. So, while many people probably thought it was good for publicity, and therefore adoption for these to be promoting it. There's always a motive, and it's money. They were directly getting paid for it, and unfortunately their involvement probably hurt Bitcoin more than it helped it.

Since now you've got them apologizing for their involvement, and promoting it. That's going to be there permanently. The NFT craze was mainly down to these Youtubers promoting it. That's the world we live in now though, people don't do their own research anymore, they listen to their favourite Youtuber.

A person cannot stay neutral if he lost all his money on FTX collapse.  Even people that isn't lost their money but has Bitcoin holdings is affected too.  How can they relax if they saw their holdings in red especially when they are dealing with day trading.  Those long time holder may probably just chill out because they knew that the Bitcoin market will recover but those who are living in day to day trade will always gets stressed out when something bad happen especially when a day trader just recently bought BTC before the collapse happen.


Obviously, most influencer is just for money.  They always wanted their activities to be paid that is why I just ignore influencer bumping any kind of cryptocurrency because when they did this, there is almost no truth about what they will utter.


Worst is they let these people make decision for them.

Yes, it is not over yet, there's more to this chaos.

People has lost alot if you do the checks ranging from longer term holders, retirement funds and money for holidays all has been cut short.
I don't know how they handle this but I hope they come out of this depression. One who have lost big amount of money will know how and what it takes to be in that position.
SBF did the wrong thing it cost both good for the side and area of long term buyers do they can get it relatively low. And people who lost the money also are the bad sides of it.

Meanwhile, Sam Bankman-Fried will soon appear in court in the United States, after he consented to extradition to the United States after he signs a package of documents in the court of the Bahamas, after which, accompanied by FBI agents, he will be taken to the United States where he faces several criminal charges, such information was reported by Bloomberg with reference to the acting Duties of the Commissioner of Correctional Institutions of the Bahamas, Doan Clear.

Source: https://www.bloomberg.com/news/articles/2022-12-21/bankman-fried-to-fly-to-us-on-wednesday-escorted-by-fbi-agents?leadSource=uverify%20wall
Archive: https://archive.ph/0kKwU

I really hope they find the strength to overcome this massive loss, when luna crashed there were many posts on reddit about people that were thinking about ending their lives, so who knows how many people lost something more important than money due to the luna crash? And it would not surprise me to find out that a similar thing happened due to the collapse of the FTX exchange, so while I would like to be positive about the potential outcomes for those people, it is difficult for me think that way.

Well it is nice to know there is some money left but if you had money in FTX and think you are going to get any then you are going to be upset when reality sets in. That money will go to other people before the small guy who has a few hundred in there sees his money.

Hell people are still waiting for their investments from Mt gox and this was from 2014! And even if someone who got scammed by FTX does want to get their money there is so many other people way ahead of you in the line wanting to claim their stolen funds. I am lucky enough to not have had any money in there but I still feel awful for honest people who got scammed by him.

To simplify all of this.....

A lot of people got burnt with this whole FTX Drama and now they are "Butthurt" ...overly annoyed and out for revenge. This exact thing happened after MtGox happened. You had the butthurt crowd spewing FUD and also the Bitcoin haters (competition) jumping on the bandwagon and grabbing the opportunity to spread more FUD about Bitcoin and Crypto currencies.  ::)

This is human nature... if you get hurt, you go on the attack to defend yourself or even just out of revenge. Let's just ride it out and counter all FUD on social media with facts.   ;)

Exchanges allow Bitcoin to circulate. It makes it easy for me to buy bitcoins, but it also makes it easy for me to lose them. Because I can't control myself, I use Bitcoin to make transactions. I know that I bear the greatest responsibility and can't blame anything else.

People who have lost their funds from the actions of the FTX and Alameda Research management can still count on compensation in the future after the arrest of SBF and now also Caroline Ellison and FTX co-founder Gary Wang, who have already pleaded guilty, as reported by theblock (https://www.theblock.co/post/197342/bankman-fried-in-fbi-custody-ellison-wang-plead-guilty-and-are-cooperating), but that's how long all these proceedings will last for now, no one thinks I can say maybe.
So far, this can only bring at least some moral consolation for the victims.

It is undeniable that FUD will always be there to break people's optimism about crypto. I don't know how much longer this FUD FTX will impact the market, but hope it melts soon. Of course I don't think FTX has made bitcoin lose the trust of its holders and investors, FUD FTX only affects the market in general.

I'm very optimistic about the future of bitcoin, and bitcoin's decline and its difficulty breaking $20K was largely unaffected by FTX or Luna, but it's just a normal cycle after bitcoin hits ATH. There is a breath of fresh air to be hoped for, but of course we need to prepare ourselves for something.

The ups and downs of trust in crypto are common, even before the FTX case was revealed people also experienced this kind of thing. But the increase in bitcoin is actually getting bigger, both used as an investment and long term storage of assets, you do the right thing store assets in a safe place and don't trust exchanges as a place to store them. I think buying bitcoins on the exchange is not a problem, because you can send them to your personal wallet to store them.

Everyone has the responsibility to invest and store assets in a safe place, the exchange is not a safe place to store assets, so any chaos involving the exchange is our own responsibility. The videos made on YouTube and the news circulating on Twitter are people's reactions and maybe they also use these two media to make money.

Not too sure the government is fully involved in creating branding, maybe the community makes videos or news because it is based on the anxiety experienced by the community and as a fulfillment of the daily news coverage of one of the media.

especially the impact of FUD is very influential on people who are novice investors in bitcoin.
Crypto FUD which always appears every day which is caused by the collapse of FTX will certainly always be there until a new FUD appears about something related to crypto. this kind of thing has been around for a long time and we can all fight it and are used to this kind of FUD.
even though if the public is able to study bitcoin's track record, chances are they will not be afraid of the bad news that always appears.
because bitcoin is true that it will never disappoint its investors and the storm will surely pass.

Eventhough other people doesn't any amount stored on FTX still the market impact create huge stress specially when they see that there coin  is continuously declining on its value.The fud is big and although this issue has been done already for sure many traders eill try again there luck and became more optimistic on any trade they do and use all things what they can possibly help them.

SBF apparently chose the tactics of delaying the trial and the possibility of obtaining more detailed information from the prosecution from the prosecution, in fact, apparently this was his refusal to admit his guilt on the eight charges brought, the trial date is scheduled for October 2, 2023.

https://www.bloomberg.com/news/articles/2023-01-03/bankman-fried-s-not-guilty-plea-sets-up-path-to-fraud-trial

Meanwhile, SBF does not waste time in vain and, being under house arrest, releases a saga where it accuses the CEO of Binance of organizing a purposeful failure, which consisted in conducting a public relations campaign against FTX, which, in his opinion, led to the collapse of Alameda, which subsequently spread to FTX and the rest.
In general, as always happens, malicious haters are to blame for everything, not their own miscalculations, irresponsibility, greed. and ambition.

Who is interested in the SBF version here: https://sambf.substack.com/p/ftx-pre-mortem-overview

scam bankman fraud is trying to set up a defence that his 'victims value' is under $1m as oppose to billions for US thus trying to assume he can only be charged in band H and not band P for the US crimes
..
yet we all know he done bad things with more then just his claims of under $1m
id say $550m+ is the ball park of his crims and where his penalty points should be pointing at


i explained his charges and sentencing "points" better here
https://bitcointalk.org/index.php?topic=5422359.msg61575505#msg61575505

but basically if he can be charged for US offences of mis-managing/stealing/defrauding less than $1.5m which his substack is trying to convince people of.. it changes a upto 25years per charge into a 46 month(under 4 year) per charge which he could also get if multiple charges convict be serves alongside each other instead of after each other

thus changing the medias announcement of 115 years down to 3year 10 months max

..
as for the other BS he says in the substack. he never had 100billion of real value assets..
that was his BS ftt over priced and other silly self-tokens he made being over priced but not requiring all to be sold to create fake "market valuations"

i can make 5trillion tokens. sell just 1 for $1 and boom i now have a token market value of $5 trillion
and thats as fake as SBF supposed $100billion business value

It is undeniable that the impact of the FTX bankruptcy is huge, because it can create investor fear of cryptocurrencies. Historically, many crypto companies have collapsed even though their bankruptcy figures are not as big as FTX mt.goak and cryptopia, the FTX case so far has owed US$ 3 billion to creditors, we must learn from every problem that comes, because if we entrust our funds to third parties, it is certain that the funds we save are not entirely our rights, we could be deceived by the company.

It is true that from the FTX case in the future there will be some people who did invest in FTX to ask for their assets to be returned with an amount that is more than what they had.
Perhaps small investors will never get a return on the assets they have lost.
And what will happen in the future is just commotion and blaming each other to be able to manipulate and ask for each other's assets.
In the past, I was shocked and couldn't believe that one of the biggest and most trusted platforms like FTX would collapse and take actions that would be very detrimental to many people.

It's hard to stay neutral when you see how many projects are connected with FTX. Actually, i don't care about this exchange as it is, but red charts makes me feel sad usually

If you don't leave your coins and don't lose money on them, then there's no reason for you to be upset about the demise of FTX. I've never used FTX so even if it crashes it doesn't affect me. Your portfolio loses value because you have invested too much in altcoins or you do not use idle money to invest. Crypto winter is bound to happen whether FTX crashes or not, you didn't prepare well for it.

The former founder of FTX, Sam Bankman-Freed, had assets worth just over $ 698 million seized, the bulk of the value is accounted for by a block of shares that SBF acquired in Robinhood of only 55 million shares, which is 7.6% of their total offer, at a price per share of $9.52, their total value is $526 million, for the acquisition which he allegedly used stolen FTX customer funds

Source: https://decrypt.co/119695/feds-seize-about-700m-ftx-sam-bankman-fried-assets
             https://www.cnbc.com/2023/01/20/feds-seize-almost-700-million-of-sam-bankman-frieds-assets-in-cash-and-equity.html

Anybody that choose to stay away from cryptocurrency because of the mistakes they had made will be a wrong decision for the to leave the cryptocurrency market entirely. There is no level in our lives that we can't make a mistake that is while we should be more open to adjust and learn so that we can make a better decisions that would work for us.

The thread title perfectly States the reality. What we came across with FTX is a drama. What happened was big collapse in the market and the same had the impact on bitcoin market. This is the common understanding, even if the FTX collapse hadn't taken place we will be sitting at the present value of bitcoin. Only then it is possible to experience gradual growth and reach big connected to halving.

FTX drama seems to melt down from people's minds now and we are seeing good recovery signs in the market [ in the long term ].

What negative do you think is coming about bitcoin next?

Bitcoin itself is unlikely to be threatened by anything and its prospects are bright, but the community has always reacted and will always do so, statements and pressure from regulators and their actions will have an impact, well, the excessive dominance of CEX will also have an impact.

There kind of is; It does effect all of us as it effects the consumers confidence in Bitcoin. If we keep having these headlines,  because people continue to use these sorts of services, and the headlines show that most of these exchanges seem to be run by people looking to exploit their customers, then it does effect us all.

We don't need these types of people running companies that operate with Bitcoin, and we definitely don't need these types of headlines every few years. It might not be obvious in the long term, because a lot of us forget about it, but it does stunt growth, and adoption for quite a while after. Would we have seen such dips in price if this didn't happen? It's hard to be absolutely sure, but I imagine there's a element of truth to that.

It is true that bitcoin will not be affected by anything, including the bankruptcy of FTX a few months ago, except for the one related to the FTX exchange, but we also have to realize that the bankruptcy of FTX which has a valuation of $32 billion USD, the impact is very far-reaching because it could bring down dozens of other financial institutions , some of the money is stuck in FTX, some are bankrupt because FTX doesn't want to be responsible for saving their company, but bitcoin itself is still safe and hasn't been affected by FTX's bankruptcy.

Bitcoin is first of all a tool and to refuse it only because of the collapse of FTX drama is very stupid. No one refuses kitchen knives just because it can cut themselves. If you don't know how to use the tool properly, then these are only your problems and not a reason to shout about it to the whole world that you need to give it up. So I understand your confusion about youtube videos and twitter posts spreading panic. It seems to me that these bloggers are just trying to hype on the theme of FTX fall in order to attract more views and subscribers, and, accordingly, it is better to monetize. They feel that their words will find an emotional response in the people affected by FTX and use this for their own selfish purposes.

While I do agree that people are slowly forgetting about FTX, its not necessarily a good thing in the sense that they will start using CEX as bank once again, not learning much by mistake of others. But this was kinda expected anyway, since Mt.Gox fail didn't teach people much so why should FTX.


If you are talking about bitcoin price, probably the most important thing is the economic situation in the world and war in Ukraine. The last time there was a recession Bitcoin wasn't invented yet so we have no idea how will that affect the price.

It is understandable that some people may have lost trust in the cryptocurrency market after recent events such as the FTX issue, and it is their personal choice whether or not they want to continue investing in crypto. However, it is important to recognize that the market is constantly evolving and there are still many opportunities for those who are willing to do their own research and make informed decisions.

The worst case of FTX will never be forgotten in crypto history but the effects of its impact have been slowly forgotten because the crypto market is not tied to the FTX case unless only those FTX victims have experienced high losses, but some of them will recover losses from Bitcoin investment assets for the long term. So every FTX case has an important lesson to be careful in managing your assets, invest only in Bitcoin and avoid buying hype coins and don't save funds on exchanges, if from the start everyone follows these steps then until now no one has been harmed by the impact of fraud cases and hacking on crypto.

it will not be the last failure or drama in this market. but people move on and they find a way how to make the most out of this market. if they will give up, they won't recover their losses. you need to keep going if you want to win on this market. learn the ropes and invest on valuable projects.

I was safe from FTX Crash by not holding funds in FtX And also not buying any kind of FTX token's and at all. And at the time of FTX collapse I have had enough Money to buy Bitcoin at cheap and that was the thing where I was able to buy something that is not giving me such huge profits too
So just hope for good and do not get so much greedy too. And we should make such good rules that might be helpful for us. And thus These cRash drama will come for a long time and they will wash out new people.

FTX Group requires politicians who received donations from them in the period from 2020 to 2022 to return them by February 28, we are talking about the amount of $93 million.
I don't know if it's even legal to demand the return of donations and what sanctions can be imposed on those who refuse to do this, except for the disclosure of the name.

https://twitter.com/stephanie_murr/status/1615466588123144202
https://www.prnewswire.com/news-releases/ftx-debtors-send-messages-to-recipients-of-avoidable-donations-301738948.html

Well something good for FTX. It has reached a new deal with the hedge fund Modulo to recover over $400 million dollars. It is 97% of the money sent to the hedge fund in 2022.

The hedge fund will pay $404 million in cash and give up its claim to $56 million in assets held on FTX's crypto exchange. https://insidebitcoins.com/news/ftx-bankruptcy-team-recovers-404m-from-bahamas-hedge-fund

Yes, in fact, great news for the victims, but at the same time SBF itself pays for the legal costs, in fact, from the stolen funds that he once sent to his father as a gift that is not taxed, ultimately SBF's expenses in this lawsuit can amount to many millions $.

https://www.forbes.com/sites/sarahemerson/2023/03/29/sam-bankman-fried-legal-fees-funded-by-alameda-money-gifted-to-father-joe-bankman/?sh=1c202a603f57