Well said.

CZ is a drama queen. There's an interview with him on youtube where he's asked about the profits from being in the crypto business and he says something like I'm not in it for the money, I don't care about that, I'm here to build and i do it for the people. He doesn't look in the camera, avoids eye contact while saying this and looks a bit nervous like he's being pushed.

Remember guys, you are safu, it's all for your good! 

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Plot twist: CZ is not buying FTX. I guess he likes it that the prices are falling. Makes it easy for him and his rich friends to scoop some cheap coins.

I think CZ knew FTX was insolvent and made this a bigger deal than it would be without his involvement. I also doubt he's alone in this.

Looks like quantative easing in the crypto world.

When all the dust settles most fake tokens with no real value that were made for this scheme will die and bitcoin will be left standing. It looks to me like a buying opportunity for bitcoin because there's some panic selling going on that makes no sense at the current situation.

I understand that you want to move out of an exchange but if they aren't processing your bitcoin withdrawal they aren't going to do it in fiat. If they have no money they have no money.

This end of 2022 will go down in history as one of the best periods to buy bitcoin.
All bear markets had this moment where the price was consolidating for months and then there was last attempt to flush newbies who were on the edge of selling. This is done to test if the market is still shaky or standing strong. This happened in November of 2018 and again this November.



Wrong. The value of bitcoin is not 17k. It's the spot market price. Price is not value. Price is based on the last known trades that are usually performed on less than 0.1% of the supply of bitcoin on a given day. You rarely see even 1% of the supply change hands.

Yes it's a crash, but don't worry about it.

Those who are selling are mostly doing it to escape from a dying exchange. They think that it's a Mt.Gox scenario where their money could be stuck for years while the legal battle takes place. It's all or nothing for them.

Always look at the fundamentals and bitcoin is as strong as it was a year ago. This situation reminds me of a covid crash in 2020 where people didn't really knew why they were selling.

To simplify: we are insolvent, we didn't have our customer's money and had to borrow from CZ, In exchange CZ will take over FTX but it will take some time to do the paperwork.
Please have patience, I fucked up.

I do the same but not because I'm scared but it also changes the social conversations into something awkward where they ask me if it's legal, if I'm laundering money, if I'm a hacker. I had enough of it so now I tell people that I manage social media and stuff


OP is showing a general problem with showing off wealth, not only crypto. There's a guy in my town who was a famous youtuber and he bought a Mercedes AMG and used it in his videos. The car was parked in front of his house surrounded by a high fence and automatic gate. He also had cameras. Some guys came at night, unscrewed hinges of the gate and moved it out of the way, then used an electronic cracking tool to find frequency of his car, unlocked it and drove away. The car was later recovered but some of the parts were stripped. They probably got 10k just for the wheels.

Craig Wright the big PhD of theology which could as well be a PhD of Voodoo is changing dates on files submitted by someone else to make it look like he did it. What a lowlife.

I bet that idiot wanted a PhD to look smarter but all real sciences were too difficult for him so he went for the one where you can bullshit the most and nobody will be able to say if it's real or not.

Then he went to the Internet and tried to push his bullshit there but it's not that easy when you have archives, screenshots and databases.

Is this the end? Is bitcoin dead?

Why would it be? There's nothing wrong with it. It's something wrong with the world.
Don't think people will be investing when there's war and Russians could cause another nuclear disaster like the one in Chernobyl.

Bitcoin is as strong as ever.
https://finbold.com/market-guru-says-bitcoin-to-hit-100k-after-the-current-global-macroeconomic-winter/

I have much respect for an experienced master that Silva is but in this case I'd put my money on Jake Paul because the odds are too good.

Everybody is betting on Silva and with very little money you can make a lot if you go against the crowd which is what I usually like to do.
Also the age advantage makes it more even than it looks like if you only compare their career.

He's emotionally unstable so nobody knows that but himself.

He can afford not to be out. For him a million here or a million there is like for you buying someone a beer. If I were him I would not be out so that nobody can question my integrity. My word would be more important than 1% of my portfolio because he's probably just in with something like 1% maybe even less.

I use to say: don't worry about the things you cannot control. Worry about the mistakes you can do and try to prevent them.
If you touch a live wire and get electrocuted it's on you. If you walk outside and get hit by a lightning, it's not your fault. Worrying about such things will only make you nervous, fearful, unable to enjoy life.

My choice was to buy and hold bitcoin and if there's a nuclear war or a global ban, It's not something any of us can be ready for. I can with all honesty say that I did my best to secure my financial freedom.

I expect that the number of coins on exchanges will keep dropping like it is now and when more adoption comes people will realize there's not enough of it for everyone.
You'll see enormous squeeze one day when people keep buying one from the other pumping the price over and over because there's going to be maybe a million coins left to buy and the rest stored by countries and big investment funds.

There's a lot of fiat out there and a lot of fiat can be printed by countries for free but there's only a few million coins left to buy. The rest is held by long term hodlers and companies who know what's up like Microstrategy.

I heard about it from a friend who was interested. At the same time I read some things about the bitcoin bubble pop, as it was 2015, not long after the crash and actually near the bottom.
Fun fact is that the media love to talk about how bad the asset really is when it's at or near the bottom. They rarely bash it on the way up or at the top.

I googled some things, begun to watch youtube videos, bought some altcoins because at first I thought that altcoins and bitcoin are pretty much the same thing just priced differently. I had to spend a lot of time and lose some money to learn what I know now, but I'm happy with what I know and that it did not cost me more.

It can end at any moment and we'll fall to the 25 -30 range to stay there bouncing for another month or two. You never know.
The dips are getting lower that's for sure.


That's true especially when chain metrics show that it's mostly people who bought over 50 thousand who sold with heavy losses. Those who held at 20 thousand also held at 30 and 40.

I don't feel attached to my bitcoins and I would sell if it was a matter of going hungry or not paying my bills. As long as I have fiat money to pay for everything I'll keep spending fiat and holding bitcoin. I fully understand people who have to sell some coins because they are buying a house or need to pay for their child's education. Don't suffer because f your investment and don't let your family suffer. It's not worth it.

I'll give you some pros and cons of every solution.
Let's start with trading.

For me the biggest con is the risk of holding coins on exchanges. Your coins are not only at risk of being hacked, but also blocked by the exchange due to some change in rules or if they find your activity as suspicious.
I've lost some coins on bittrex because they've decided that my activity is suspicious and blocked my account and then demanded me to send them multiple selfies and bills to prove where I live and in that time I've changed apartments so that was out of the question... Long story short they demanded a ransom that I could not provide. They stole my coins. It wasn't a big deal because that was maybe $100 worth of cryptocurrencies, but imagine if you had 100 times more and the same thing happened to you.

You're also at risk of making a mistake, trading with leverage and getting liquidated and losing a lot of money.

What's the worst thing that can happen to your bitcoins held offline? If you buy today, we can go to retest the previous high by the end of the year and you'll earn 100% on your investment or go down to maybe 20 thousand and you'll lose 30%. If you decide to trade you can lose 100%, so the risk is much higher. Holders will never lose 100%, even if they buy the top.

Holding doesn't require any work, any thinking. It takes more time to make money so it's a game of patience but it allows you to focus on other things.

It depends on how much of gold vs bitcoin you're holding. If you have 3x more gold than bitcoin think about balancing it a bit more at least towards 50/50.
I think that if you have physical gold you should hold it. In case of a hyperinflation things like physical goods, metals, bitcoin, will all go up in value.

If you have gold shares you can as well sell it for bitcoin because it's not as safe to hold as bitcoin and will produce much smaller profit for you.

Should you even care about volatility caused by the rich if you aren't trading?

For me there's always a good price to sell maybe once a year, sometimes more, so if I ever want to do it in a certain time I'll be able to. Like now we had 60 thousand in 2021 and we are going to have 50-60 within the next 12 months. If that's your target it's going to happen. In 2022 you'll probably see 80 thousand and more so if that's your target yo will eventually reach it. Don't spend too much time worrying about things you cannot control.

Looks like they're doing what China is doing. Banning Bitcoin to push through their own centralized digital currency.

It's not good news for real crypto because centralized cryptocurrencies are representing everything that Bitcoin was made to fight. It was made to let people become their own banks, not use digital fiat money made to look like a cryptocurrency.