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Are you guys prepared for the dumpening??
The merge was the last straw. Now it will be only sell pressure in the next 12-24 months.
How low do you think it will go before all is said and done??
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That might be true, but the risks to individuals in mainland China is extremely huge if one is considered to be an enemy of the people, state and party. That is not going to be a fun ride to puy it mildly.
In any case this takes away a lot of the potential crypto could have had in the future and will probably cause a reaction in the next weeks, months and maybe years to come.
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China declares all crypto-related transactions illegal and forbids overseas exchanges from serving its citizens.
The PBOC said all crypto-related transactions are not allowed under the law.
Activities considered illegal cover a range of operations, such as buying and selling virtual assets as a central counterparty, and providing intermediary or pricing services for crypto transactions. It also includes token issuance financing, crypto derivatives transactions, and other activities suspected of illegal sale of tokens.
"Those who carry out related illegal financial activities that constitute a crime shall be investigated for criminal responsibility in accordance with the law,"
China's market regulators and the Ministry of Public Security said cryptocurrency is "disrupting the economic and financial order, breeding illegal and criminal activities such as gambling, illegal fund-raising, fraud, pyramid schemes, and money laundering, and seriously endangering the safety of people's property."
How will this impact Bitcoin and other cryptoprojects?? What do you think guys?
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Hold until you die. Get buried with your crypto. Diamond hands. Worthless  What to do, what to do??? If you don't tell anyone your key, your crypto dies with you. If you do tell someone your keys, they might rip you off and squander it on some BS. Then again, even if you do tell someone, they might lose that info and it will still be lost. |
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Maybe he didn't give his family passwords and two-factor authentication codes. Maybe he was worried they would clean him out and squander his cryptofunds on whatever. Maybe he didn't trust them enough.
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Cool! So, the fees killed my btc, and all I got was this cup of coffee meme, has it started trending yet? Has it taken off on tiktok yet?
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All Bitcoin and Ethereum will be lost, given enough time. That is just a fact. Maybe he instructed someone how to gain access to his crypto, then again maybe he didn't.
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The FBI managed to retrieve most of the $4.4 million cryptocurrency ransom payment in Colonial Pipeline hack.
Can they also confiscate YOUR crypto funds if they wanted to??
What do you guys think about this...
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The meltdown is in progress and will endure for as long as people are delusional, and by looking at a lot of the comments here - most of you are clearly delusional.
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I would strongly disagree. Selling your Bitcoin in a strong downtrend is the SMARTEST decision you can make. There is something called stop loss - use it or lose it!!
Buy back below 10K
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Here is a hot tip for you - sell now and buy back below $10,000. What do you guys think?
You can thank me later!!
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This is what will eventually happen. Sooner or later all crypto funds will be lost/inaccessible - given enough time. If he had kept his funds in stocks or just a plain old bankaccount (or even gold), you would have now had access to the funds.
The lesson here - if you are about to die, sell your crypto...
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Yeah. Looking at the technical chart, it looks like there is some support at or around 30K. Could be a battle of buyers and sellers right there. If it should power right through it and keep on dropping, that would be a clear signal to sell.
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Will it stop going down when it reaches 10K, or will it continue to drop below 5K?
What do you guys think about that and why?
Headwinds for BTC;
Rising US and world wide interest rates coming.
ELON MUSK now hates Bitcoin.
Alternative crypto's will take over BTC's throne.
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Are you all idiots? This wont ever happen, it is not possible. Would be like asking if Sweden could be the most powerful nation in the world. The answer is no.
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The bear market has just started, and the next real test going down will be what happens when it goes below $20,000.
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It won't ever replace FIAT.
Fiat can scale infinitely because it is centralized. There are zero bottlenecks with FIAT.
If some magic happens and Bitcoin replaces FIAT however, it would be same as FIAT without any physical bank notes...
Bitcoin supply is limited and it is cornered by a few people. It would be total chaos and the governments would fall and the next world war would begin.
You guys should be careful what you wish for. Sure, crypto is fun and interesting now. You are right, total chaos and the governments would fall, and the next world war would begin, but not immediately. The current fiat system, with the US dollar as the world reserve currency is what keeps the financial system stable. If Bitcoin or some other cryptocurrency should replace it, then the dollar money printing would stop and mass unemployment would be the result, mass starvation and mass protests like we have never seen before in modern times would after some time (maybe a year or two) take place. People would stop going out of their houses of fear of violent gangs roaming the streets, electricity and crucial societal functions would eventually stop. Shops will get looted and emptied, so good luck finding any food to eat. If you think all that is really bad, the worst is yet to come. All this chaos would lead to "strong men" ala Hitler/Stalin/Mao as the current political system disintegrates. When they clash, you can expect a nuclear exchange, with multiple ICBM's incoming. ALL THAT MISERY BECAUSE OF SOME SHORT TERM GREED TODAY. BE CAREFUL WHAT YOU WISH FOR!! We all have a duty to stop this from happening. You can all be a part of the solution, dont be a part of the problem, avoid the nuclear winter. Scary yes, not very likely. Maybe a 10% chance, if that. And btw, no electricity no access to bitcoin. So worst case scenario, BTC could trigger almost a Skynet equivalent type of event? I do agree to if the Fed money printing stops, there will be a financial meltdown crisis like in 2008, just ten times as bad. |
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There is a topic discussing what is wrong with Bitcoin here; https://bitcointalk.org/index.php?topic=5286664.0Nobody says when they found out about these flaws, would be interesting to know when they realised this, was it just recently or was it a long time ago. Also has it changed their views on the future of the project from what they thought in the beginning? |
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Off course big holders spread their bitcoin over many wallets. One person could have 10 or 20 wallets as security in case of getting hacked.
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