Wasn't Ferum developed by FTX and got rekt bad by the recent happenings?


While its true that a lot of funds have been withdrawn from CEXes lately, soon all this will be forgotten and people will go back to their old habits, like they did in the past after MtGox fiasco. The important thing is to understand that every time you send money to CEX you can lose it, and if even after that people are still willing to use it, so be it.


Not gonna happen. They will be more regulated though and that's about it.

What's the point of this topic? You maybe expect that people will feel sorry that you lost the money that you gained by abusing Rollbit rules? Suck it up buddy, you have no one else to blame other than yourself.

You can see this period as a sort of spring cleaning during which market is cleansed from all those shitcoin projects/platforms/exchanges that appeared in the last few years. And every time this happened (as it happened in 2018/2019 and several times before), bitcoin (and market itself) came out stronger so no, I don't think that crypto market is headed for destruction. More regulation for sure and that's about it.


Based on my experience when I had to sell bitcoin during bear market to cover some unexpected expenses, newbies rarely invest when bitcoin price is low as they are afraid that its "going to zero" and instead they wait for it to start pumping and instead seasoned investors that went through this before will of course seize this opportunity.

That's the problem, I don't think that they will do a good job, based on how everything has been done in this "industry" (just take for example the most reputable smart contract audit company Certik). I have never seen so many incompetent people running projects and dealing with millions of dollars like in crypto, bar is set incredibly low.


I do feel sorry for all those who lost their money (even though they should blame themselves first for leaving money on CEX) but many of those who got rekt will continue using CEX the same way they did before and how to feel sorry for them the next time they lose their money, which they will. Btw, regarding those "good projects",  vast majority were nothing but shitcoin projects so I guess there is some poetic justice in the way they lost their money.

Oh yeah, many more will go down as I read somewhere that all those altcoin projects Alameda invested in were basically forced to store their money on FTX.


As a matter of fact another lending platform announced today that they are suspending withdrawals and deposits and that's just a beginning.



That's one of the (many) advantages of being a bitcoiner as you don't have to follow closely everything that's going on on the market.

As the title says, Liquid announced that they are suspending all withdrawals, both crypto and fiat. Since they were acquired by FTX back in May, its no surprise that they are going down as well and I doubt that's the last exchange that is going to be affected with FTX downfall.


https://twitter.com/Liquid_Global/status/1592458596750856192?s=20&t=Y5M_kVSzu2U_EKeNYp36Cg

Np. By credit I guess you mean merit, so here you can find the guide about it. If you have any further questions how forum works I suggest you to check pinned messages in Meta and Beginners & Help sections (especially focus on the latter) as we are kinda offtopic here. And yeah, welcome to the forum.

It is an investing method in which you divide the amount you plan to invest in several equal parts and you buy the asset in regular intervals, no matter the price. So for example, you mentioned that you want to invest $5k now; with DCA method you divide that amount to let's say 10 equal parts and every 2 weeks/month /etc you buy $500 worth of bitcoin.

Thing is, many people try to time the market to buy at the bottom, which they usually fail (unless very lucky) or sometimes not buy at all as they missed it so instead worrying over that, you simply buy bitcoin at regular intervals. Way less hassle and worrying, and it works very well if you plan to hold for longer period of time and not buying for a quick flip.  Keep in mind that there is a chance that you may profit more if you go all in now, but another reason why I prefer DCA is because it helped me to be more disciplined when investing.

Here is also an article about it https://www.investopedia.com/terms/d/dollarcostaveraging.asp

Its entirely possible that bitcoin reached the bottom, but my gut feeling is telling me that we are not yet there, mainly because some other platform/exchange might be affected with what happened lately and that may unravel in coming months which could bring bitcoin even further down.

While current entry price is certainly good (and timing the bottom is practically impossible), if you are not sure about going all in (or afraid that bitcoin may go down even more), you might consider using dollar cost average in order to have some funds ready if we dip lower. At least that's what I have been doing for quite some time and so far it worked like a charm.

Problem is that those things will probably be faked as well. Rumour is that behind crypto.com sending 320,000 ETH to Gate was the attempt to foll proof of reserve, which makes more sense than "oops we sent $500 million by mistake".


Be careful what you wish for.

While I don't think that what happened with FTX is a good thing because many people will never see their money (even though they should have know better and not use CEX to store coins), there are reports that they miss ~9 billion meaning it would happen anyway so better than it happened now than 6 months later as FTX was getting more and more popular+ they planned to make their debit card available worldwide which means even more people would lose their money.

Trusted by 5 million users yet when I google Bityx, the only result I get is this (company based in London, as you claim to be). The only problem is that company is incorporated in September 2022, while you claim to already have millions of users so I guess that can't be you, tight? So how come there's no mention of Bityx anywhere?


You website is down btw.

Looks like those rumours about crypto.com being in trouble made people massively withdrawing their funds from there as they recently shared the announcement that hey are "experiencing delays with crypto withdrawals due to network traffic" and I saw some people reporting that they have been waiting for 24 hours to get their crypto out. Well, at least I hope that's the reason and not that they are actually insolvent and that's what causing all those delays.

If you do think that Hal is behind Bitcoin and respect him for everything that he did (which I guess you do) why don't you respect his wish to stay anonymous? Just to add that if I can chose one person I wish is behind Bitcoin that would be Hal but I stopped thinking about that long time ago and instead start seeing it as a big Bitcoin advantage, to have its creator real identity unknown.

And this consensus that you aim to reach via this thread ain't gonna happen as there's simply not enough evidence to prove beyond reasonable doubt that a specific person is behind Bitcoin (no matter how much I would like if it was Hal).

Maybe you have different experience, but looking around me at the people who were investing in stocks long before bitcoin showed up, none of them switch to bitcoin completely, or have majority of their portfolio in it so somehow I doubt that people are massively ditching stocks. They diversify their portfolio of course and majority of them included bitcoin, but what's interesting though is that I know one old school stock trader who doesn't want to take care of bitcoin by himself and rather invest via Grayscale.

Having said that, I also know people that only started investing in stocks after they profited via bitcoin, as a way to diversify into something that has less amplitudes in price.

You have to be extremely naive to believe their CEO when he said that ETH was send by mistake, after people started asking questions about so much funds moving. But even in the case that they are telling the truth and ETH was sent by mistake, it just means that they are extremely incompetent. Either way, get your money out.

Well its too late now to take your funds out of AAX. Tbh, anyone that still had money on any CEX after what has happened with FTX is simply asking for trouble.


I sure hope everything ends up well  and  this might be a common warning but timing of this "system upgrade" and stopping withdrawals is very bad, given everything that has happened lately. 

That's literally one of the worst ideas I heard lately. Haven't you noticed what happened with staking platforms like Celsius and now recently BlockFi? Given their track record, you have to be crazy to put that amount of money in any centralized platform as chances are that you won't even be able to pick up that profit before they get busted.

If you have some extra money and want to invest in crypto, my advice is to keep it simple: just buy bitcoin, store it in your own non-custodial wallet and forget about it for a couple of years.

My first reaction? Probably thinking to myself "I am sure glad that I don't have any money there and its time to buy some very cheap bitcoin".


It would be the end of hundreds of shitcoins that were built on BSC but bitcoin  would survive, its just that it would be on a big discount (probably in the region of 2019 bottom which was ~$3K)


I don't think that people took what happened with FTX seriously enough and plenty are still having money on centralized exchanges, thinking that theirs is safe.

What a load of bs. For this attempt to scam people that already (most likely) lost money you don't deserve only negative feedback (which I left you)  but flag as well.

@OP and anyone else having money stuck there: I know guys that you are desperate but don't fall for scams like this as many will approach you, telling that there is a way to get your money out.
 

Good point. Thinking of it, they could even frame another FTX employee that they know has Kraken account and has access to everything needed, which would make him an obvious target.