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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Central banks have taken a hawkish stance against inflation by raising interest rates at a constant rate. Their goal is to reduce the negative effects of both the COVID-19 pandemic and the Russo-Ukraine war on the global economy. While history has shown us that rising interest rates reduces inflation over time, this time is different. There are huge disruptions in the global supply chain and geopolitical tensions are rising at a fast pace. We can't expect inflation to lower down based on rate hikes alone. If the war prolongs to a very long time, I can't imagine how successful central banks will be in trying to tackle inflation for good. Do you think such financial entities will fail in their goal of lowering down inflation? If not, why? Is there still hope for a global economic recovery when the war and the pandemic are at play? Your input will be greatly appreciated. Thanks. |
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The collapse of a major crypto exchange, has once again taken the world by storm. There is a lot of FUD being spread by mainstream media, making people believe this is the final chapter for crypto/Blockchain tech. Now, US lawmakers are pushing towards stricter regulations with the excuse of helping protect investors' interests. Other countries could follow the US, greatly stifling the growth of the industry. I'm beginning to wonder whenever the collapse of FTX would be good or bad for crypto in the long run? This looks like another Mt. Gox situation, so it's likely things will be better in the long run after the dust settles. But I'm not so sure, especially when governments are now seeing crypto as a threat to the existence of Fiat (something they didn't think about when crypto was in its early years). What are your thoughts? Your input will be greatly appreciated. Thank you very much. |
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This year has been full of catastrophes for the crypto/Blockchain industry. First it was the Russo-Ukraine war, then the Terra/LUNA implosion, and most recently, the FTX collapse. All of this had severely affected Bitcoin's market price. The pioneer cryptocurrency used to trade between $20k - $25k, but now it's trading at $16k - $15k per coin. I know investing in Bitcoin is for the long haul, but I'm curious how low its price will go before bouncing all the way back up again? Some people say Bitcoin will go lower than current market prices as the effects of the FTX collapse haven't materialized yet. There are many companies and projects (like Solana) which had investments on FTX, so it's likely BTC will see more pain ahead before the dust settles. What would be your predictions? Your input will be greatly appreciated. Thank you. |
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If you own lots of physical crypto collectibles, how would you store them securely? I usually put my graded coin slabs (crypto-related, of course) inside small shockproof boxes for safekeeping (each box costs around $2 on AliExpress). Then I put all of those small boxes inside a large Pelican box with a padlock for greater protection. The Pelican box is expensive, but totally worth it in my opinion. I think this method allows me to protect my collectibles against water, dust, shocks, and even fire (although I'm yet to verify if that is the case). In physical crypto coins alone, I have over 120 units. And that's without counting other types of collectibles such as the Papersafe Stock Certificates, the Polymerbit Notes, and even the original Bitcoin Magazines. Here is a picture of the small boxes I use to store graded crypto coins (click to enlarge):  What are your methods? Feel free to share them here. Thanks. |
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Simple. The global economy deteriorated because of COVID-19 and the Russo-Ukraine war, while a major crypto exchange (FTX) collapsed. This caused Bitcoin to decline massively in price, taking along ETH and a few other cryptocurrencies down with it. You can see why the PoS upgrade had little-to-no effect over ETH's market price. If you really want to see ETH go all the way to the moon, then Bitcoin needs to rise first. Otherwise, don't count on seeing a return on your investment anytime soon. For what I know, investing into crypto takes time and lots of dedication. There's no such thing as becoming a wealthy person overnight. Good things only comes to those who wait. I think ETH will go way above $5k once this is all over. If you keep buying ETH while it's still cheap, you'll be able to reap the benefits at a later time. Ultimately, strong hands will buy and "hodl", while weak hands will sell. As long as you don't put all of your life savings into ETH, you'll have nothing to worry about. Just my thoughts |
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What has happened recently it’s really something that it’s only in crypto with that kind of fast volatile movement. I think that’s unique to crypto markets since it is 24/7. For sure there are those type of insider trading and other stuff that you have mentioned in Cryptos, but it’s just really hard to pinpoint it.
I think when all of this is over, it’s going to be a boring again and people hopefully would get more into it again. One of the greatest time to buy it now I think.
Indeed. This is the greatest time to go all in crypto, as everything is being traded at a large discount. FUD is what has made investors wary of getting into crypto right now. But we all know crypto won't stay down in price forever. It's like a rollercoaster ride if you ask me. Sometimes crypto market prices go down at a fast pace, while other times it goes all the way to the moon. You'd just have to buy crypto when it's cheap and never sell until everything goes back up again. This is just a matter of perseverance to obtain great results with your investment. I'd just invest into Bitcoin and Ethereum for the long haul, as they're the most promising coins on the market. 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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A few days ago, Elon Musk responded to a friend's tweet saying that the price of BTC may increase by the end of winter. He also asked everyone to be patient. It means that the future of BTCL is very bright and its price will increase. We are all waiting for this winter to end and the market to return to its previous form. InshaAllah the price of BTC and digital currency will return to the previous room thanks
It doesn't matter what Elon Musk says anyways. He's only promoting crypto (especially Dogecoin) for his own benefit. After all, anything he says usually drives the price of a crypto asset all the way to the moon (for a short period of time). What people need to focus are on facts, not rumors. So far, there's the issue of the COVID-19 pandemic, the Russo-Ukraine war, and the sudden collapse of the world's second-largest crypto exchange. I think it's going to take quite a long time before we're able to see any uptick in Bitcoin's price. Believe me, this is the perfect opportunity to buy BTC at cheaper prices. I don't think the pioneer cryptocurrency will ever go back to sub $15k prices once this is all over. Those who buy in cheap would surely reap large profits in the long run. It's all a matter of buying and accumulating Bitcoin no matter what happens on the market. Remember, patience is a virtue. If you're able to do this, nothing should stop you from becoming rich in the future. Just my thoughts |
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