For now, what FTX has made in the public eye has damaged the image of cryptocurrency itself. Like it or not, we need to go through a quite negative feedback process, including the impact of prices on the market. It was unavoidable or indeed it was an event that gave executives a compelling reason to adopt a much stricter policy. As you said, they take the excuse for the safety of their investors' assets. But beyond that, FTX has undermined the values of decentralization and this fatal consequence will only filter who stays and who will leave crypto for a certain period of time.
The damage has already been done and there's nothing we can do about it. History is repeating itself with another collapse of a big crypto exchange (remember Mt. Gox?). Only those with weak hands will sell thinking it's the end of crypto. But strong hands (aka Diamond hands), will buy and "hodl" no matter what. May this be a lesson for anyone who trusted centralized exchanges with their hard-earned money. I think it's time for the majority of people to use decentralized exchanges for the good of crypto/Blockchain tech. If we continue to give power to centralized exchanges, we'd be making crypto no different than traditional banking. Unfortunately, people will continue to use CEXs because they prefer convenience above all else. It's likely we will see another big crypto exchange collapsing in the future (Binance?), leading us to another severe bear market. At least, we can say crypto won't be going anywhere. As long as it stays decentralized, there should be nothing to worry about. Just my opinion  |
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Some say that the price of $ 15k-$ 16k is the lowest price for bitcoin at the moment but there is still a possibility that the price will drop to $ 10k-$ 13k. And as long as there is still negative news circulating and global conditions are still showing no progress, the crypto market can still get an impact and that will make the crypto market fall even deeper. But if some positive news shows market sentiment for other commodities starting to improve, maybe the crypto market will also increase. But I don't know, the current situation is very difficult to predict and this time, the bitcoin price has really gone wild and our analysis could be wrong in predicting.
Global conditions are worsening, so don't expect BTC to reach a new ATH in price anytime soon. I also think BTC will go much lower in price within the short term as there's a lot of negativism surrounding the whole crypto/Blockchain industry. I'd be surprised if it goes below $10k between the end of this year and the beginning of 2023. As I've said many times before, this is the perfect buying opportunity for you to grow your wealth in the long term. I don't think BTC will be worth less than $20k once it goes all the way to $100k. Of course, not everyone is capable of resisting the tide (especially when you need the money right away for necessities). Only those who have spare cash to pour into Bitcoin will make huge returns within the next bull market. History has shown us that Bitcoin goes back up in price after a severe market "bloodbath", so I'm confident BTC will go to the moon very soon. Who knows if the next halving (2024) will turn the market extremely bullish? Just my thoughts  |
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What you suspect is true because no one can make predictions for the future, what we have is faith and historical evidence. It is often said that if you want to predict the future, you need to look at history because at some point everything will always repeat itself. I also hope history repeats itself but if it doesn't then I don't worry because just looking at the development of bitcoin we can rest assured that the future of bitcoin is very bright. It's only been 14 years but look, from something scorned and despised, bitcoin is now being accepted on a national level. That growth alone is enough to believe that its future is bright whether we have a halving event or not.
Bitcoin has always bounced back in price, even when it has gone through the worst. I'm pretty confident the same will happen again after the next block reward halving. Those who didn't buy BTC when it was trading below $20k, will regret themselves when BTC gets past $100k per coin. After the pioneer cryptocurrency reaches a new All-time-high in price, it's very unlikely it'll be worth less than $20k again. That's why it's important to take advantage of every dip in price to help secure your financial future. Who knows if buying BTC now will make you extremely wealthy in the long term? As long as you don't invest more than what you can't afford to lose, you'll have nothing to worry about. Just my thoughts |
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It doesn't even matter, does it? Let’s assume that he literally tweeted "bitcoin price will rise", does that really matter? For all intends and purposes he is not a financial hedge fund manager type of person or an executive in a wall street stock company. Obviously even if he was, that doesn't mean that he would know what bitcoin will do, it would be just a simple calculated guess.
However, this dude is owner of a car company, a space shuttle company and a social media company nowadays. Which means that we are talking about someone who we shouldn't listen to or care about. Price will go up when we say it does, and that means we will buy, that’s it, nothing more to it.
I don't think Elon Musk has any knowledge on crypto trading whatsoever. He's just playing with investors in order to get what he wants (which is profit). After all, anything he says (either good or bad) has a direct effect over crypto market prices. It's going to take quite some time before investors get tired of Elon Musk for good. In the meantime, we should expect BTC's market price (especially Dogecoin) to move according to Elon Musk's comments on social media. I'd have to say it's obvious this will be a long winter for Bitcoin and other cryptocurrencies. After what happened with the Terra/LUNA implosion and the FTX collapse, it's going to take quite some time before investors start pouring money into the market again. And that is to say that the global economy needs to recover first for us to see positive changes in market prices. The crypto space is widely unpredictable, so I'd suggest the OP to buy and "hodl" BTC without paying attention to market prices. Who knows if the next BTC halving would lead the market "all the way to Mars"? Just my opinion |
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They justify the reason for the ban that Bitcoin is a breeding land for crimes because it is decentralized and no government or any central bank can control or monitor it, but they want to enslave the people and do not want the financial transactions of individuals to get out of their control so that they are the only ones in control of it, and it is unfortunate that We find that there are many governments of many countries that have banned Bitcoin and declared war on it and against those who promote or deal with it, but why is Bitcoin not regulated and legalized without completely preventing and banning it? I see that Bitcoin is the future, and I look forward to seeing in the future many countries, such as El Salvador, approved Bitcoin and allowed consumers to use it in all their transactions alongside the US dollar.
Governments will always come up with an excuse to prevent as much people as possible from getting true financial freedom. After all, they don't want to lose control over people's lives. It'll be up to the individual himself to do his own research to determine if Bitcoin is really worth the time. I'm pretty sure most people will switch to Bitcoin when they discover its true benefits. The only problem is that Bitcoin's price is widely volatile, making it a terrible currency for day-to-day payments. But that shouldn't be an issue if you're one of those people who use Bitcoin regardless of its market price. 1 Bitcoin will always be equal to 1 Bitcoin, right? At least, we're heading into the right direction as some countries are beginning to adopt Bitcoin as legal tender. We now have El Salvador and the Central African Republic in the game, so it should only be a matter of time before other countries do the same. Of course, not every country in the world will adopt Bitcoin as their currency of choice. But many of them will accept it, leading us one step closer towards "hyperbitcoinization". Who knows if someday countries that banned Bitcoin (like China and Russia) will change their mind? If Bitcoin can be taxed, then I don't see why they shouldn't adopt it in the first place. No one knows the future, so we can only hope for the best. Just my thoughts |
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Will Google or Amazon abandon their obligations to partners in order to mine the CHIA coin?
If the majority of CHIA miners belong to Google or Amazon, then this will become known and investors will sell this coin, which will result in big losses for large companies.
Probably. But they could always mine CHIA in secret, leaving investors in the dark. These companies have a lot of money and power, so the sky is the limit for them. HDD mining isn't as popular as ASIC or GPU mining, so people wouldn't care if CHIA or any other HHD-mineable coin becomes extremely centralized in the future. At least, the idea is there. Making it a success is another story. Maybe someday we'd get to see an improved version of CHIA that would bring equality to all miners on the Blockchain? If this happens, then HDD mining would become truly decentralized. I was thinking something like a hybrid approach where the coin could be mined with HDDs, as well as, CPUs. It would be something similar to Digibyte with a multi-algorithm PoW consensus mechanism built onto the protocol. The sky is the limit, so anything's possible. Just my opinion |
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War has occurred for more than 9 months and the two countries claims to win, Russia is increasingly aggressive and resistance from Ukraine also continues, countless victims of life and treasure, and greater impact is to restore the condition of Ukraine, of course it takes a long time, and this be a warning to the world that war can occur at any time.
You've got that right. Wars are unpredictable. They can cause pain to both countries, especially in the economy and the number of lives lost. While the war is only between Russia and Ukraine, the world is suffering dearly because the two countries are one of the major exporters of goods and commodities. This causes severe economic pain just like it was the case during WWI and WWII. Unless the current war comes to an end, don't expect inflation to disappear anytime soon. Expect food, oil, and energy prices to continue soaring during the course of the conflict. It'll be up to both countries to come into a peace agreement, to end this nightmare for good. I hope the global economy recovers so we could live a normal life once again. No one knows what the future holds, so we can only hope for the best. Just my thoughts |
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We're not seeing these statements when FTX was buying failed platforms like Voyager, Celsius, and Blockfi. They were trying to monopolize and even lobbied politicians for the regulations. So far we are not seeing Binance buying any platforms but the CMC.
But CZ seems to be assertive that he even asks coinbase if they have the funds. He is fishing. The guy is counting funds that are not his.
Binance tried to buy FTX, which was the world's second-largest crypto exchange. If the deal would've gone through, Binance would've become truly unstoppable. Even now with FTX's collapse, Binance has gained a large percentage of market dominance. CZ is a powerful force in the crypto industry whenever you like it or not. This is dangerous, because a collapse of Binance would be something completely catastrophic to the whole crypto/Blockchain industry. It will be worse than the Mt. Gox and the FTX collapse combined. Crypto is all about eliminating the middleman anyways, so I don't see why people are giving power to centralized exchanges. It's like such entities are the "bankers" of the crypto industry where they can dictate their own terms. This is a step backward to what Satoshi originally envisioned. Hopefully, things will improve for the better as people notice the inherent failures of CEXs. Who knows if the collapse of FTX would serve as a pivotal moment for crypto to turn itself towards full decentralization? Just my thoughts |
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Paper money has existed for thousands of years, first widely used in feudal China, although continuously improved and renewed, they have not disappeared a single day in the past 1000 years. So thinking about a future without paper money isn't going to happen anytime soon. CBDC will soon be created and adopted but it also cannot completely replace paper money, there are still many places, and many people still don't know how to use the internet as well as the phone, how can they use CBDC?
It's hard to make people change their use of paper money, when it's been around with us for thousands of years. If credit/debit cards didn't manage to replace paper money, then how would CBDCs succeed? Yet, I think this time will be different as the pandemic and certain other factors will force us towards the complete digitalization of our society. Phasing out paper money would bring many benefits to the government including (but not limited to) reducing waste, eliminating privacy, and having better control over the money supply. I know the world is going to abandon paper money at some point in the future, especially when central banks are announcing their intentions of launching CBDCs to the public. But this is going to take quite some time to achieve, as there are a lot of people who won't abandon paper money that easily (especially old people). We already have Bitcoin anyways, so there's no need to wait until Fiat becomes fully digitized. Just my opinion |
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Any unfavorable event that the cryptocurrency market survive is always good in the long run. That said, having errors and survive it makes the market stronger. People will learn from the mistakes and will have knowledgeable in the next event. If ever you heard the song "doesn't kill you makes you stronger", I believe that also applies to the cryptocurrency market. Past mistakes can be patch up by new method that solve the problem that lead to that mistakes.
So having the government thinking of regulating the cryptocurrency market may bring a bad taste to crypto enthusiasts because they are used to having freedom and not regulated but for a long run, having an ecosystem that is free from scams and fraud will boost confidence to the market, enabling people who are hesitant to join the crypto wagon will gladly jump and propalgate in the crypto industry.
I think it's still possible to enjoy "freedom" with crypto/Blockchain tech by using decentralized alternatives to existing centralized services. Regulations would only be there to ensure the industry is as legitimate as possible among the eyes of investors and traders alike. I believe governments will tighten regulations after the FTX collapse, but not to a point where it does more harm than good towards the growth of this nascent industry. The current unfortunate series of events will serve as a lesson for customers to never leave their hard-earned coins on an exchange. You can see why many people have drained their coins after the FTX scandal. I think this will force centralized exchanges to publish proof of reserves or even become non-custodial in order to gain the confidence of investors and traders alike. Despite the setbacks, it may be too early to tell crypto is dead for good. The industry still hasn't gone fully mainstream, so there's still time to buy and "hodl" more coins before this happens. Once a vast number of people worldwide are aware of Bitcoin and its variants, market prices will never be as "cheap" as they are right now. Who knows what the future holds for the entire crypto/Blockchain space? Just my thoughts |
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Well we can’t really say how low will BTC's market price go which is why I understand some investors are very concerned with buying on the dip and selling on the high. My focus these days is more about finding investments opportunities I firmly believe in and hold long.
For example, as a strong believer in Bitcoin I have rarely fixated much on the price. I have bought at high points and low points but have consistently made money. I think this strategy has served me well because it take away the guess work and greatly reduces risk.
The global economy hasn't recovered yet, so there's more room for Bitcoin to dive lower in market price. Only those who're able to buy and "hodl" BTC no matter the circumstances, will be able to achieve great results in the future. As you've said, it's time to focus on accumulating BTC regardless of the price. This is a method often called "Dollar Cost Averaging (DCA)". You'd ultimately win following this strategy once market prices go all the way to the moon. No one knows when the "big pump" will come, especially when the crypto market is widely unpredictable. My guess is that everything will go back up again after the Bitcoin halving of 2024. As long as you don't invest more than what you can't afford to lose, you'll have nothing to worry about. Just my opinion |
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Central bank can not bring down or reduce inflation because the world economy is been ravaged by two major factors which can bring down the economy of any country. The Covid-19 has done a lot of damage to our economy, the world hasn't even recovered from that damage before the war came in to worsten the whole thing.
For the decline of inflation to be achieved, so many challenges that the world economy is facing should be tackled,there should make way to create peace in the ongoing war by dialogue with both countries involved instead of sponsoring or assisting the continuation of the war. Nobody knows for how long this war will last and it will do more damage to the world economy and more inflation will be experienced because they are all focused on winning the war and not considering the damage it is doing to the world at large.
That's certainly true, mate. Unless COVID-19 and the Russo-Ukraine war go away, we can't expect inflation to ease anytime soon. Governments are going to need to work together to put an end to the war for the good of the economy. I'm wondering if prolonging the war is a plan for governments to go full-speed ahead for a global reset. Effectively, the rich have become richer, while the poor, poorer. Let's see how long will it take for inflation rates to lower down to an acceptable rate. It's a widely unpredictable world we're living into, so we can only hope for the best. Who knows what the future holds for the global economy? Just my thoughts |
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01 - Abiky Thanks for this amazing raffle, Mopar! Happy holidays!  |
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Sig paid Confirmed. Thank you very much DogecoinMachine and the rest of the Crypto.Games team! You guys rock! |
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And yet for some reason many people see FTX's collapse as something similar to the world's end. Don't they know what happened to the first, to the number one Bitcoin exchange at the time, Mt. Gox? What was the price of BTC at the time of MtGox's collapse, and what was happening to the price during the following years? If they don't know, they can google about it, and all the info will lead them to conclusion that they have all the right to be optimistic about the times of the next Bitcoin Halving.
Noobs are usually the ones who think Bitcoin is dead after the collapse of a major crypto exchange. But crypto veterans like myself know there's a lot more to Bitcoin than meets the eye. It's a revolution that's bound to challenge Fiat's existence in the mainstream world. With Bitcoin, people get to enjoy true financial freedom without the fear of censorship from the government. It's value comes from being a decentralized and censorship-resistant cryptocurrency no one can shut down no matter what. Not to mention, it has a finite supply of only 21m coins. I'm confident Bitcoin will be much more valuable in the future. It's just experiencing some "hiccups", just as it's the case with any new technology that comes in the mainstream world. Bad actors will eventually be "washed out", paving the way for good actors to take control of the industry. If the global economy recovers by 2024, there would be nothing stopping BTC from reaching a new ATH in price. The FTX collapse (just like the Mt. Gox collapse back in 2014) will only become history. Who knows if someday Bitcoin destroys Fiat for good? Just my thoughts |
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Oh, that tweet. It's not even that optimistic. He said it's going to be a long winter.
In short, he also doesn't know when the BTC price will go up again, just like every BTC investor has no idea when.
Let's not base every crypto pump and dump on him, that's the worst kind of strategy that I have heard. IMO, if that's the case then I am better off looking at market predictors and speculators, maybe they can guess better than one man making Twitter his diary.
He got lucky he pulled lots of investors from his hype last time, now I doubt it will be repeated.
Everyone knows it's going to be a long winter. Especially after the Terra/LUNA implosion and the recent collapse of the world's second-largest crypto exchange. He's only saying it to see if market prices dump so he could grab more coins at a discount. People will ultimately lose all of their money by making decisions based on what Elon Musk says, while the man himself will cash out big time. I think as the crypto industry matures, investors and/or traders will stop following Elon Musk for good. It's only been 13 years since BTC's inception, but it still feels like crypto's early days. Once crypto becomes fully mainstream, market prices will be a lot higher than what they are right now. Ultimately, weak hands will sell and strong ones will "hodl". As long as you don't invest more than what you can't afford to lose, you'll have nothing to worry about. Just my opinion |
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My forecast is unchanged from last year, I believe that the very bottom of bitcoin is at around $10,000. Firstly, these are the same 85% loss of value after ATH (this is how much bitcoin lost in the past bear markets of 2014 and 2018-2019). Secondly, in 2020, it was from the $10 000 mark (approximately) that the ascent of bitcoin began, the global bullrun began after a long recovery and accumulation. The bottom at around $15 500 does not seem to me the final point of this crypto winter, perhaps we will see the finale of this epic in 2023, not earlier, and at much lower price levels.
I hope BTC doesn't dip below $10k, or we'd be "toast". Most people are only into Bitcoin because of the price, so a major downfall would surely scare away the general public from investing into it. This will result in loss of confidence as we speak. Why do you think people still trust Gold these days even when there's Bitcoin in play? People trust Gold because it has never experience (AFAIK) a huge downfall in price, making it a stable and reliable store of value. You'd just invest into Gold, forget about it for a couple of years, and then come back with your money nearly intact (Gold is volatile but at a much lower rate than Bitcoin). If Bitcoin were the same, things would've been different by now. At least, we all know prices won't be down forever. The next halving comes in 2024, so it's likely market prices will rise after that. If you buy BTC at cheap prices now, you'll be able to reap the benefits in the future. Who knows how far will the cryptocurrency go? Just my thoughts |
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I think it generally takes something like 18 months for the effects of raising interest rates
to take full effect in the goal of reducing inflation.
It's the boom to bust tactics which works for increasing and reducing inflation. Central
banks are raising interest rates in various increments, when the they cripple a lot of
people and recession takes hold and inflation drops they will start reducing interest rates
to stimulate growth and the cycle starts again.
So no central banks will not fail.
Well there's still the issue of the Russo-Ukraine war and the COVID-19 pandemic. How will central banks control inflation when there are large disruptions in the global supply chain? Not to mention, geopolitical tensions are on the rise. If they want to "fix" the economy, governments need to deal with the aforementioned issues first. Unless the EU becomes energy-independent and the US abandons fossil fuels for good, we won't be going anywhere soon. There needs to be a collaborative effort from all sides to help beat down inflation for good. While I admit inflation won't disappear completely, it's possible to reduce it to a point where it doesn't affect poor people. The US is aiming for a 2% inflation rate, so we're going to have to see if that will work out in the long run. Maybe 2024 will turn out to be a bright year for the global economy? Just my opinion |
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Obviously, it's very bad for us, as we can see the market has been affected as the price goes down hard
Second, there is a call for everyone to move out their funds on exchanges, so this is not good for exchanges image as well. Although CZ has try to start a movement called proof of reserves but not sure how this will sit with customers.
Third, investors will shy away from putting their money on the next supposedly hype crypto exchange. And with that I doubt that we will hear another exchanges that will have a lot of big investors, wall streets, sports personalities and celebrities as they will not trust anyone with that sales pitch.
It's very bad in the sense that regulations will become tougher than ever. This will introduce a number of obstacles between exchanges and customers themselves. While this should make crypto more "legitimate", it greatly defeats its original purpose of being middleman-free (which in turn gives you financial freedom). I can't imagine how centralized the crypto industry will become in the future as governments continue to exert pressure against it. We've seen how most altcoins turned themselves to PoS, due to "environmental concerns". With this and ever-tightening regulations, crypto would become no different than traditional banking. At least, crypto market prices won't stay down for long. Long-term speaking, people will forget all about the FTX collapse and the Terra implosion, just like it happened with Mt. Gox back then. No one knows what the future holds for crypto/Blockchain tech so we can only hope for the best. Just my thoughts |
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Wow.. those are some pretty cool little storage boxes. Great idea for a thread... might help some of the newer collectors know about their possible storage options. Thanks. I've came up with the idea after looking for a safe way to help protect my graded coins against water, dust, shocks, and fire (without breaking the bank, of course). I don't think the $2 boxes from AliExpress are fireproof, but at least they have good water and dust resistance. Maybe fire won't be much of an issue if they're going to be kept inside my large Pelican box. I'm might have to buy another large Pelican box as the one I have is starting to get full with the small orange boxes inside. That looks sick. I'd use one of these for storing graded coins that are non-crypto related. I have a couple of graded US coins from ANACS and NGC, so I'd use this case even if it's not as shockproof as my little boxes (I tend to value crypto collectibles more than traditional coinage). Now I'm planning to buy something similar for my slabbed Cardsmiths cards. If only these cases had a better type of lock (like a combination lock used on traditional briefcases), it would be a blast. If your main concern is security, I'd go a step further and build various hidden storages throughout the house to hide them in different locations [and it means more pelican boxes].
- I'm not sure where you're keeping the large Pelican box, but if an intruder can see it somehow, then it'd become an easy target!
Yes, I'm aware about that. I've made sure the box is out of sight by putting it in a secret compartment inside my basement. I don't think a burglar would ever find it there, less think the box has something valuable on it. But I'd pay for some sort of insurance just to be safe.  Pretty cool. There's lots of useful info related to storing crypto collectibles securely. I'd have to say the acrylic cases for Polymerbit notes have brought my attention. Thanks for sharing this, bud. I really appreciate it. If only there were some sort of acrylic cases to store my Bitcoin Suisse Notes (2014 and 2019), I'd be complete. |
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