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I am surprised that SBF and Kwon haven't been assassinated yet, TBH. How pissed must their investors be right now?
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The only sure-fire way to make profit without losing coin is to either loan someone your coins for a percentage (for example staking) or you are a trader who knows how to buy the dips. Although be sure to include a DCA strategy (Dollar Cost Averaging) otherwise you just go all-in even though there might be another few dips ahead. But as long as you hodl and do not panic, you should be fine either way. The riskier the strategy the higher the reward, should it succeed. Although with Altcoins you also need to be certain that you are investing into something worthwhile. And the only way you will find out what is worthwhile is by doing your own research.  |
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The market can’t quite make up its mind on a direction to take, but it is doing it’s best to liquidate as many bulls and bears as possible while it decides. I’d urge people not to be making reckless bets right now to try and recoup losses. Now is the time to be buying BTC and taking it off of exchanges. If you’re leaving funds of any kind on exchanges right now, you should be prepared to lose it.
At this point any further dips will be pure market manipulation to shake the weak hands. No way the whales are going to miss out on this chance. As far as exchanges go, I would agree. But I would also agree with that assessment if we were at 100k and rising 10% everyday. |
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Today Bitcoin fell to below $17,000. How much lower will it go before it bounces back from the fallout?
Twitter of all places was where FTX CEO Sam Bankman-Fried claimed the business was solvent whereas Binance CEO Changpeng Zhao claimed the opposite and pulled out of a potential deal to buy out (or bail out) FTX.
It is looking like a disaster for those that bought Bitcoin for $30,000, $40,000, $50,000+ but what about all those FTX token holders and the losses they will incur, they will be huge too.
Relying on any one exchange to conduct so much business (FTX) has pitfalls when things go wrong as they regularly do. Binance might have the financial might at the moment to be a massive player in crypto but one day the castle CZ built could also crumble. Imagine what the losses would amount to the day Binance gets hacked again.
As for Bitcoin, the price will bounce up and down then steady before the next big news makes the price bounce all over again and the cycle continues.
I do not think that the FTX FUD is going to do any more damage than it already has done. What more could push down the price at this point? SBF not finding the investors who will give him billions of dollars to save his sketchy exchange? Everyone already knows that that will never happen. If I had to take a guess, I would say the FTX news has already done the most damage that it can to the price of Bitcoin. And that damage will be very short term. However I do hope people will be panic selling for a while longer. I really do not mind filling up on cheap coins as often as I can. |
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Screw 'em and let them sell if they panic. I'd like to grab some $10,000 bitcoin(or lower) if we ever get there.
"Everyone buys Bitcoin at the price they deserve" — some dude on Twitter. People who panic will likely buy back higher.
Sounds like really nice and cheap Bitcoin there! But honestly, I would not be betting on us reaching 10k again. If anything I would say we have reached the point where the latest FUD has done the most damage to the price of BTC. So sure you can wait for the 10k and hopefully, you will get it but I am not going to risk it and just buy in and wait for BTC to normalize the normal price levels again. Volatility used to be very common but the more people adopt Bitcoin, the less common it becomes. A dip like this is not going to be happening every other week. I say buy while you can...  |
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So for you, is copying bets online a good practices?
Imho it's not. You just blindly trust a random person's picks and you don't know if that person knows the game(s) or not. You can as well just play dice. If you know the games and can take a look if those bets do make sense, maybe - but then you can do without looking what others do. So no, I think that it's not a good practice. Well if you were to view this kind of practice from a different perspective, perhaps it would actually be useful in increasing your odds of winning. We know that many people create their own strategies in increasing their odds of winning. Some people become very good at it. The better you become, the more people notice and everyone starts wanting to copy your bets. I agree that copying the bets from a single person sounds like a bad idea. But two (or more heads) are better than one. So what if you were to "scan" through the best bettors bets and copy the bets that they all agree on? Would this not up your probability of winning? It might not, or there might not be enough good bettors making correlating bets. Who knows? |
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Is there any gambling project that have a soccer game and horse racing game onboard? I believe that these two genre are not based on luck but skill that's why I ask this question, since most gambling projects have games that are based on luck like roulette and others.
I think you might be wrong about that. All gambling games are probabilistic to their very core. Which is why they are gambling games and not games which can be won by using complex computer algorithms like with chess. So what you call luck is really you being on the less "lucky" side than the actual gambling casino with their built-in house edge. But you definitely could raise your chances of winning if you are skilled enough. Even though you will never be "luckier" than the casino with mentioned house edge. Trying to cheat fate by calling something lucky or unlucky is just psychological. Not a good gambling strategy. |
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This is the real issue BTC is facing. Chickens get afraid and sell even if they lose their money. They don't even understand how crypto works. I've never sold a satoshi since 2013. I know BTC will rise back and one day will hit the 100k and beyond. In a way I'm glad this is happening, more strong hands and less chickens. HODL! Hoping to buy more if it gets down to 10k. Haven't even heard about FTX until now lol. This shows how panicked I am 1 BTC = 1 BTC. That's all you need to know. Less drama, live longer.I think that most people need to go through the ritual of fire. That is to say, they need to experience what their own "chickeness" does to their portfolio. I think we all once were newbies who were not 100% certain of our investment in Bitcoin. Nor did we understand it much, rather we just decided to go with the hype, as most newcomers do these days. But the BTC lost by flip-flopping between buying and selling are not what I would call losses. Rather they are expensive lesson fees. Once we complete the lesson, which is to always hodl and never sell, then and only then do we reap the future rewards. But you are right. I think the biggest problem is that they do not understand how crypto works. |
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When we gamble we feel all the emotions, like when we feel excited when we are chasing our losses, feeling happy when we won a big amount, feeling depressed when we lose and we feel frustrated when what we expected to happen did not materialize, this is one of the reasons why we cannot stop gambling because we feel all the emotions.
Do you agree that we cannot stop gambling because it completed all our emotions and do you have other feelings when you gamble.
Oh definitely I would have to agree with your assessment on why we gamble. It is a deep psychological need for the dopamine rush in our brains from taking a risk and getting rewarded for it. Although as with anything that gives you a rush of dopamine, like drugs, its best to watch out not to condition yourself to connecting that feeling of reward with the activity of gambling itself. Otherwise you will become addicted to gambling. And after a enough time you will not be able to stop. Thats why its best to walk away after losing your designated gambling funds or winning a large amount of money. To wear off that feeling. And once its gone, feel free to gamble again. |
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Its disappointing that El Salvador has proven, by keeping their coins on an exchange, to have adopted Bitcoin without actually understanding Bitcoin. This explains why their adoption went to shit and nobody in El Salvador was even interested in BTC in the long term. It was all just Nayid Bukele acting on FOMO like a newbie with a get-rich-quick crypto scheme.
Bukele already made it clear he didn't have any coins on FTX. What exchange do you imagine the coins to be on? Oh well thats good then. Bob shared a BS article, I guess. |
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Its disappointing that El Salvador has proven, by keeping their coins on an exchange, to have adopted Bitcoin without actually understanding Bitcoin. This explains why their adoption went to shit and nobody in El Salvador was even interested in BTC in the long term. It was all just Nayid Bukele acting on FOMO like a newbie with a get-rich-quick crypto scheme.
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IF the weekly ends with a big fat red candle then we can be sure that there will be more dips on the way during the next few weeks at least. However the weekly candle closing is in 4 days. No point in panicking just yet. This could prove to be a short term crash which will be quickly picked up again just as fast as it fell. The reason for this train of thought is that the dump was caused by FUD about FTX, mainly. I think we already have seen the worst or will shortly see the worst of the fallout. But as soon as that clears, Bitcoin should be safe again. I see no reason why this would create another monthly bear market.
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SBF reported missing and presumed to be evading authorities.
Time to pop some corn, gentlemen.
Probably hiding in the same hidey hole as Kwon Do-Hyung... |
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 I really hope you guys aren't going all in on buying the current dip. We might go lower! Rarely get Bitcoin this cheap.... My BTC transaction has been stuck for 7 hours now. Thats what I call congestion. |
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are we poor once again?
Only if we sell. 1 BTC = 1 BTC |
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Looks like Binance is starting to regret their decision on propping up FTX. If I had to guess then this is why today is another day of heavy dipping (8%) currently. https://twitter.com/BTC_Archive/status/1590368491659735043I really have no idea why Zhao thought "rescuing" was in any way a good idea. If I had to guess then I would say it a was a spur of the moment thing rather than an actual business decision. Now Binance is doing "Due Dilligence" or just saying that they are doing DD as an excuse to drop FTX soonish. Talk about shooting yourself in the foot... No doubt that now especially is a bad time to have your Bitcoin (or any crypto) on a CEX. We might see some liquidity caused withdrawal freezing on smaller exchanges soon, if the market keeps crashing at such rates. |
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Oops:  Edit: Not difficult to forse this: - No way US would allow CZ to step into the US market
- No way market regulators could allow a 80% market share entity. Whatever a market regulator is in Bitcoin space.
Oh boy! Cheaper Bitcoins! Please and thank you! |
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The thread is not to ask sympathy but to share lesson i learnt from gambling such as you can gain from it something.
I learn not to play roullete frequently.
Make your money and leave.
For example come to a roullete game with 1000 usd try to mmake 5000 usd in 3 minutrs and leave.
If you make good money always celibratre and make the winning lasting experience in your brain.
With hookers champainge whatever you deem is neccessary.
I agree with the "Make your money and leave" part but I completely disagree with the second part of rewarding yourself for winning immediately after winning. This seems like a good way to condition yourself psychologically towards the dopamine rush of the reward after gambling. This very well might result in developing a crippling gambling addiction by accident. Rather than reward yourself after winning, the best thing to do is (from my perspective and experience in gambling) to walk away from the casino for a week or so, calm down, let the rush of winning subside and then and only then should you think about how to spend the money or if you wish to celebrate your winnings. Also betting your money in 3 minutes then leaving? That seems like setting all risk management aside and gambling in a hurry like a madman. Not sure if thats fun or even wise to do. |
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I talk on live roullete in physical casino can it be rigged?
Sure a physical roullete can be rigged. But I think these kinds of things are checked regularly and made sure to be in functional order. Also, if it were rigged then there would be some patterns that gamblers would at some point catch up on and then the casino owner would be in very big trouble. Anything can be used to rig the wheel. From weights to table balance manipulation or even magnets. There are an infinite amount of ways to rig it if you have a good imagination and a working understanding of fundamental physics. But again, things like rigged wheels will not remain unnoticed for long. |
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