Hodl tight Bitcoin. We're going to the galaxy

[BTCGalaxyA12]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

The panic caused by FTX continues to proliferate.
Hodl tight Bitcoin. We're going to the galaxy.


source: ^{[Bitcoin Archive]}

[1715049590]

1715049590

[NeuroticFish]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

By what I've read here it looks like, by far, it was not an accident, instead it seems that it was meant to "help out" gate.io fake its proof of reserves.
I don't know the full story yet, let's keep our eyes open (and maybe also keep the discussion in one place).

[bestcoins1]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

The panic caused by FTX continues to proliferate.
Hodl tight Bitcoin. We're going to the galaxy.


source: ^{[Bitcoin Archive]}

If indeed it was an unexpected accident, then the one who took delivery of 320K Ethereum immediately became a rich man instantly. I can't imagine that that much money could be sent to the wrong address because it shows how careless the person is in sending something (Ethereum) to an address he doesn't know. Whereas before he sends it, he can still check the address to ensure the correctness of the address he will send Ethereum.

[Minecache]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

The panic caused by FTX continues to proliferate.
Hodl tight Bitcoin. We're going to the galaxy.

If indeed it was an unexpected accident, then the one who took delivery of 320K Ethereum immediately became a rich man instantly. I can't imagine that that much money could be sent to the wrong address because it shows how careless the person is in sending something (Ethereum) to an address he doesn't know. Whereas before he sends it, he can still check the address to ensure the correctness of the address he will send Ethereum.

Obviously they were trying to create fake evidence for each other, there was no way that such a huge amount of money could be mistakenly transferred. Myself every time I transfer money, I even double check and it can take up to 3 to 4 minutes before I hit the send button let alone this is a huge amount of money.

Although nothing too serious has happened yet, we should still be very careful, do not leave money on crypto.com, gate at this time. Proof of reserve is a great idea, exchanges that are shady about storing user assets will be phased out soon.

[Rikafip]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

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.

[Slow death]

these exchange owners are using customers' money and they are very liars, people from now on need to be aware of any movement that these exchanges make and all exchanges should show how much money they have available in real time, for people to be able to verify that the money they are putting in the exchange is safe and was not used by the exchange, it is unacceptable what is happening, several people have to beg to have money from them, it is not fair. come to say that you transferred a large amount of money like this to the wrong address, this is a big lie, i don't believe this story

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

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.

I agree, if he transfers this huge amount by mistake then he can do it again, but I don't believe this story because being people who transfer money everyday are already used to doing address verification before sending

[Zaguru12]

I agree, if he transfers this huge amount by mistake then he can do it again, but I don't believe this story because being people who transfer money everyday are already used to doing address verification before sending

Exactly This has to be the most callous excuse I have ever hard of. Imagine playing with people's funds this way. Who knows what is even going on right now or maybe there other sheddy things going on. One cannot make this mistake even when sending a fee lower than $50, I don't believe this one bit. But as time goes on the truth might reveal its self

The only thing is to sell off all shit coins and buy bitcoin and take them off  the Exchanges no matter how little there. No exchange is save anymore.

[jaberwock]

I agree, if he transfers this huge amount by mistake then he can do it again, but I don't believe this story because being people who transfer money everyday are already used to doing address verification before sending

Exactly This has to be the most callous excuse I have ever hard of. Imagine playing with people's funds this way. Who knows what is even going on right now or maybe there other sheddy things going on. One cannot make this mistake even when sending a fee lower than $50, I don't believe this one bit. But as time goes on the truth might reveal its self

The only thing is to sell off all shit coins and buy bitcoin and take them off  the Exchanges no matter how little there. No exchange is save anymore.

Obviously, whatever the reason they are giving, that is false and there is something more to i. I am not going to act like I know the exact reason, could be insurance fraud, could be proof of reserve, it could be any reason and we wouldn't really know what the reason is.

However, even if we do not know what the real reason was, we could easily see this and say that this wasn't just a mistake, this wasn't just "oh sorry we sent it wrong", we know it was done knowingly and whatever they are claiming right now is false. They did a shady thing, and they are hoping that they could get away with it, and if they really do and nothing happens, it means bad things for our future.

[lizarder]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

It seems that they developed another problem that can't be trusted by logic, sending errors shouldn't occur, if they are used to verifying addresses before sending, this is completely untrustworthy.
Whatever the reasons given, Crypto.com is not a decent place to store money, their credibility is questionable if they are. But it seems that another fact will be revealed, which is far different from their current statement.

The panic caused by FTX continues to proliferate.
Hodl tight Bitcoin. We're going to the galaxy.

That's why Bitcoin is so much more trustworthy, even though nothing more basic for us to relate to. Buy and hold Bitcoins.

[coolcoinz]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

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.

You don't make mistakes like that with such amounts of money. This gets checked 10 times before the button is pressed.
I feel like all these exchanges play around with customers' money and if asked to deliver 100% of it they'd repeat SBF's statement "sorry, we fucked up". What's keeping them alive is the fact that there's rarely a real bank run in crypto. FTX would've been with us if not for CZ and his token selloff that spooked other token holders, created a bank run and exposed FTX.

Whatever happens, bitcoin will not be affected much. If idiots get scared and panic sell many people will be there to buy what they're throwing away for free. After all 90% of stock investors lose money and usually it's not because the companies go bankrupt but because they can't handle the pressure.

[serjent05]

these exchange owners are using customers' money and they are very liars, people from now on need to be aware of any movement that these exchanges make and all exchanges should show how much money they have available in real time, for people to be able to verify that the money they are putting in the exchange is safe and was not used by the exchange, it is unacceptable what is happening, several people have to beg to have money from them, it is not fair. come to say that you transferred a large amount of money like this to the wrong address, this is a big lie, i don't believe this story

Well that is the power of centralized exchange, they have the authority to move the customer funds to any address they wanted while they keep a tight security when the owner of the funds wanted to get his money.  That is why I never leave my fund on any exchange.

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

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.

I agree, if he transfers this huge amount by mistake then he can do it again, but I don't believe this story because being people who transfer money everyday are already used to doing address verification before sending

It is very impossible for a well verse person (crypto.com CEO) to send a huge amount of money by mistake.  I believe there is a prior arrangement between gate.io and crypto.com before the fund is sent.

[sheenshane]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

Again?
If I wasn't wrong this is their second time sending it mistakenly but good thing on Gate.io exchange not on other unknown wallets.
But fortunately, the fund was sent back to their cold storage which is still good news for them.

The CEO now of Crypto.com has been suspected of wrongdoing which lead to their user withdrawing the fund which didn't a clear explanation to the Crypto.com CEO. 

[Lanatsa]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

Again?
If I wasn't wrong this is their second time sending it mistakenly but good thing on Gate.io exchange not on other unknown wallets.
But fortunately, the fund was sent back to their cold storage which is still good news for them.

The CEO now of Crypto.com has been suspected of wrongdoing which lead to their user withdrawing the fund which didn't a clear explanation to the Crypto.com CEO. 

This would really be a mind boggling on why crypto.com which we know that has reputation would really be doing such thing which it really impossible that you would sent out 320k ETH without
any valid reason.If Crypto.com wont really be giving out some convincing reasons on why they have done that then for sure people would really be losing up trust
and this would really be that making domino effect and cant blame out on what the community been thinking off with this.
We dont know on where it would be ending up and the most important thing now is on how to make yourself that prepared on upcoming possible
market conditions that would might happen along the way.

[blockman]

Is this another insider that these exchange owners are playing and betting with their customer's money? Why would they send that much ETH on gate.io for what?
Just to get some exposure to the news that's currently focused on FTX? I highly doubt that there's a minimal reason for that, there's probably some plan that's about to be executed. Are they going to play it with the futures? This gives worry to crypto.com users for sure.

[rodskee]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

The panic caused by FTX continues to proliferate.
Hodl tight Bitcoin. We're going to the galaxy.

source: ^{[Bitcoin Archive]}

lol , these people will not made this huge mistake sending funds , as like what said in the first post this seems to be intentionally sent and not by mistake , and also saying people to HODL tight for the coming mooning ? it looks like this is not a good advice though Holding is what we mostly do for this kind of market now.

Let us not expect too much or believe in what others says , instead be observant and face everything with caution , also invest with what you can afford to lose.

[hugeblack]

If this news is true, then it is a disaster because if the platform behaves in such ignorance with millions of dollars, how will it do with the customers’ money that does not exceed thousands of dollars?
And if it is not real, then it is an attempt to hide the weak financial side of the platform. In any case, it should be avoided
.

[philipma1957]

If this news is true, then it is a disaster because if the platform behaves in such ignorance with millions of dollars, how will it do with the customers’ money that does not exceed thousands of dollars?
And if it is not real, then it is an attempt to hide the weak financial side of the platform. In any case, it should be avoided
.

so where is the transaction on the eth blockchain?

Btw moving 320k eth to anyone is a big move. I would not do one send I would do 2 or 4 just in case of a glitch.

[yudi09]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

Possible Rescue Drama. It's not that we don't believe it because naturally mistakes that occur to humans are unavoidable, but in this case of misrepresentation, we can say that negligence is a reckless human trait that can occur due to intentional elements. Wrongly sent 320K Ethereum This happened at the same time as the FTX case. So we can say that this was not an accident but a rescue drama.

[peter0425]

When the market is red like now it will be difficult to sell or buy, especially if I buy when the price is expensive so that loss if I sell now, on the contrary it becomes difficult to buy because I'm worried that the price will continue to fall, silence and relaxing is better and safe when the market is bearish.

I think it is only difficult to sell but to Buy? wrong mate this is the best time to buy because even if it grows tomorrow at least we are already in profit right? and if continue to drop at least in the coming days when the price recovers there is a sure income we can gain from this as we are already assured that increase will happen only if we can HODL .
but if you are a easy money looking then this is not the best time for you .

[YUriy1991]

Hodl tight Bitcoin. We're going to the galaxy.

The technology behind bitcoin is blockchain. Many financial institutions are now researching and investing in blockchain technology, which is why bitcoin value continues to rise. Bitcoin is scarce, decentralize and transparent. No one has access to it than you.

[Marykeller]

This is another clear indication that is not a good idea to keep your crypto fund on any exchange.

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

The panic caused by FTX continues to proliferate.
Hodl tight Bitcoin. We're going to the galaxy.


source: ^{[Bitcoin Archive]}

Is it not shameful of them to make this announcement to the general public? A whole crypto exchange that people trusted with their funds made the mistake of transferring huge Ethereum to the wrong address. That's to tell you how incompetent this exchange can be

[cryptomaniac_xxx]

^^  I guess by now, it's not a fake send, they really send it to Gate.io to help them?

In any case, someone is trying to cover for someone, but in the grand scheme of it all, it might not be good for the market after all.

The market is very tense since the FTX crashed, the reaction is more than what we get when Terra Luna collapses months ago. Maybe it's because this has affected many investors and companies who have a share on FTX.

[maydna]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

Possible Rescue Drama. It's not that we don't believe it because naturally mistakes that occur to humans are unavoidable, but in this case of misrepresentation, we can say that negligence is a reckless human trait that can occur due to intentional elements. Wrongly sent 320K Ethereum This happened at the same time as the FTX case. So we can say that this was not an accident but a rescue drama.

It could have happened like that, especially since we don't know what really happened at Crypto.com. Actually Crypto.com has had this before so if they do it again, it will be a question mark as to why this exchange that is starting to get big is making the same mistake as before. But we can only hope that nothing serious will happen after this and that all is well, although this may cause concern for some people who use the exchange. But I heard that they have communicated with Gate.io to help them. Let's see the next announcement from Crypto.com.

[SirLancelot]

If this news is true, then it is a disaster because if the platform behaves in such ignorance with millions of dollars, how will it do with the customers’ money that does not exceed thousands of dollars?
And if it is not real, then it is an attempt to hide the weak financial side of the platform. In any case, it should be avoided
.

It seems true because when I searched it, there are different news site that covers this news as well. If the claim is true that it was only an accident then we shouldn't worry because the receiver of those coins is also a top exchange. They can just return those eth's again to their rightful owner but there will always be people that will worry once again and panic which is a bad thing in the overall crypto market.

It's been a while since the ftx issue happened and then there's this news again. 2023 is truly a one of a kind year and will always be remembered in the history of cryptos. Anyway bitcoin will still go in the galaxy moon despite all of this issues that we are facing lately.

[yudi09]

Possible Rescue Drama. It's not that we don't believe it because naturally mistakes that occur to humans are unavoidable, but in this case of misrepresentation, we can say that negligence is a reckless human trait that can occur due to intentional elements. Wrongly sent 320K Ethereum This happened at the same time as the FTX case. So we can say that this was not an accident but a rescue drama.

It could have happened like that, especially since we don't know what really happened at Crypto.com. Actually Crypto.com has had this before so if they do it again, it will be a question mark as to why this exchange that is starting to get big is making the same mistake as before. But we can only hope that nothing serious will happen after this and that all is well, although this may cause concern for some people who use the exchange. But I heard that they have communicated with Gate.io to help them. Let's see the next announcement from Crypto.com.

Occurring at the same time as the fall of FTX, of course, we can suspect that there is a rescue effort that is packaged in a drama. To support this mindset, I recommend visiting the topic created by @fillippone which I think is a good discussion to add to references in an effort to further examine what is really going on.

Here's the topic: FTX drama and it’s long term consequences: Bitcoin is a confidence Game.

[el kaka22]

Lots of people have super high hopes about bitcoin and that’s a good thing but we can't fathom the thought that maybe for another year we could stay like this? I am not saying we will, but there is no way we could say it's impossible neither, it could still happen.

We should just focus on the fact that it is a risky move and we shouldn't invest just because we want to profit in the next 3 months, if the price doesn't go up in the next 3 months but does go up a year later, that should be fine for us too, invest according to that. I have been investing in a way that could be fine if the price doesn't go up from another few years, and then goes up, because I don't need the money right now.

[Dave1]

Lots of people have super high hopes about bitcoin and that’s a good thing but we can't fathom the thought that maybe for another year we could stay like this? I am not saying we will, but there is no way we could say it's impossible neither, it could still happen.

We better be thinking about that worst situation, this is like 2018-2019 all over again. End of 2018? I still vividly remember that, I mean I'm not making the money that I used to be in 2017, bull run and so a lot has change on my end. So I have to adapt and stomach what 2019 brings and to some extend 2020 covid-19 scare to the market.

And that's what I learn by this year, before I didn't reinvest by just sell everything and take whatever profit or loss I got.

But this time, the market is bleak, but we should learn how to stack sats and accumulate.

[bestcoins1]

In fact, if we invest in Bitcoin, we must invest hard for the long term. Because Bitcoin is such an crypto it is impossible to predict future announcements. Because you can't predict anything about its future. Therefore, if Bitcoin is to be held, it must be held tightly so that we can definitely get something big from here. Therefore, if we hold, it must be for a long time.

What should it be? Because Bitcoin is a digital currency that cannot be held with bare hands. More precisely, is to store it properly in a wallet that is very safe according to each person because that is an example of holding it well. Bitcoin is an asset that cannot be doubted for its future, but what is questionable are those who hold it weakly and inconsistently over the long term.

One thing you may notice is that in the past the price of Bitcoin was very high but currently the price of Bitcoin is much much lower. So I think it's a good time to hold Bitcoin.

More precisely, last year is not the past, because in the past the price of Bitcoin was not that high and it was still easier to get with limited money, and for now it is almost the same where everyone can buy Bitcoin with as little money or as much as they can because the price has not too high as ever seen in the last year.

[ethereumhunter]

In fact, if we invest in Bitcoin, we must invest hard for the long term. Because Bitcoin is such an crypto it is impossible to predict future announcements. Because you can't predict anything about its future. Therefore, if Bitcoin is to be held, it must be held tightly so that we can definitely get something big from here. Therefore, if we hold, it must be for a long time.

One thing you may notice is that in the past the price of Bitcoin was very high but currently the price of Bitcoin is much much lower. So I think it's a good time to hold Bitcoin.

But unfortunately, not many can hold bitcoin for the long term because the negative news around bitcoin triggers them so they think it will fall even deeper soon. If they could look at the history of bitcoin, they would surely see that every time bitcoin goes through a sharp decline, it will reverse direction again and even create new ATH in the future. And it will happen again later when the bull run comes.

So, hold on tight to the bitcoins and try to buy more bitcoins so your profits can get bigger. But be careful if you want to buy bitcoin and try to analyze it first to determine when you can buy.

[Hamphser]

Lots of people have super high hopes about bitcoin and that’s a good thing but we can't fathom the thought that maybe for another year we could stay like this? I am not saying we will, but there is no way we could say it's impossible neither, it could still happen.

We better be thinking about that worst situation, this is like 2018-2019 all over again. End of 2018? I still vividly remember that, I mean I'm not making the money that I used to be in 2017, bull run and so a lot has change on my end. So I have to adapt and stomach what 2019 brings and to some extend 2020 covid-19 scare to the market.

And that's what I learn by this year, before I didn't reinvest by just sell everything and take whatever profit or loss I got.

But this time, the market is bleak, but we should learn how to stack sats and accumulate.

Always make yourself that prepared for those probabilities yet it did really happen in the past which it could possibly happen in the future and this is something should be part of risk management of someone who does

have crpyto investment.Now that we are on a bear market then it would really be ideal on getting in but since we do still see some negative news or events that we do have the market now.
Then it cant really be avoided for people to think about more dumps or decrease in price and this is the reason on why we are still waiting for that right time on getting in
but eventually, how we do consider the right time if the market is unpredictable since the beginning?

Thing here is that you dont really make yourself that too hopeful or expecting for positive things to happen.Always make yourself bare about on possible situations ahead.

[Wong Goblog]

Although the market is currently showing a negative trend, I am sure that the market is immediately rising, although the issue of FTX can occur with other exchanges, but I am optimistic that we will soon be out of this issue, and it is time for strict rules to be applied so that FTX cases do not occur again in the future .

[Oasisman]

lol. I guess Crypto.com is now really panicking. I don't think all of that so called "mistakes" was not deliberate.
Either way, whether or not a mistake, Crypto.com isn't trust worthy and very incompetent, because of the HUGE "mistakes" they're making.
So, It's gonna be the greatest gamble of your life if you continue to hold and trade on their platform.

In my point of view, there was no mistake. If it was really a mistake, they should've fired people already, considering how huge this "mistakes" was.

[Vinaa77]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

I wonder if big investors or owners of a large number of wallets still send coins wrongly. To what extent is the accuracy in work. If they send a large number, of course they will double check.
And when we send from one exchange to another, we will get a confirmation email.

[bestcoins1]

Although the market is currently showing a negative trend, I am sure that the market is immediately rising, although the issue of FTX can occur with other exchanges, but I am optimistic that we will soon be out of this issue, and it is time for strict rules to be applied so that FTX cases do not occur again in the future .

The problem is that because of the case that is being experienced by FTX at the moment, investors are panicking and they are also afraid that it will spread to other exchanges as our Administrator said in the topic Reminder: do not keep your money in online accounts

Your big optimism is still not necessarily able to save you and everyone who has experienced losing some money due to a decrease in the price of cryptocurrency on the market, because that only makes someone not panic and you also cannot stop the panic that arises from investors at this time.

[wxa7115]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

I wonder if big investors or owners of a large number of wallets still send coins wrongly. To what extent is the accuracy in work. If they send a large number, of course they will double check.
And when we send from one exchange to another, we will get a confirmation email.

It is an excuse that it is difficult to buy which is why many people do not do so and think that something else happened, after all we can expect that kind of mistake by someone that is just learning about this market but not from an exchange that is supposedly keeping those coins safe.

And even if we were to buy such an excuse then that should be enough of a reason to get your coins out of the exchange, as it is obvious they do not know that they are doing and they could lose your coins at any moment.

[Sir Legend]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

I wonder if big investors or owners of a large number of wallets still send coins wrongly. To what extent is the accuracy in work. If they send a large number, of course they will double check.
And when we send from one exchange to another, we will get a confirmation email.

If we want to send bitcoin then always make sure that the address we send is correct, currently there are too many malicious programs, I once sent bitcoin about $400 and the address was wrong, at first I copied the address but when I pasted it changed, after I investigated it was exposed to the program evil, then I tried to copy the ETH address and when I paste it turned out to be different, always alert if we make a transaction.

[DudeAtWork420]

So you really think this was an accident? Those exchanges just share those funds with each other to take a snapshot of this proof of reserve. They just can not admit it in public so they have said it was an accident. No one sends 320k ETH worth 400M in an accident because for big transactions those exchanges must have a multi-signature that needs to be approved by a few people.

[btc_angela]

So you really think this was an accident? Those exchanges just share those funds with each other to take a snapshot of this proof of reserve. They just can not admit it in public so they have said it was an accident. No one sends 320k ETH worth 400M in an accident because for big transactions those exchanges must have a multi-signature that needs to be approved by a few people.

Yes, this is most likely the reason, same amount of crypto being shared around by this exchanges, just to show that they have the reserves as they claim. CZ started the whole craze, just to show that they have the reserves to back it up.

But even themselves moved it right away right?

So make sense for other crypto exchanges, whether by so called mistakes or not, to also shift fund around to show and take a snapshot of their proof of reserves so that their customers will be assured that they have the funds.

[bitterguy28]

The accident happened again. Crypto.com mistakenly sent 320K Ethereum which is estimated to be +$400 Million. Like receiving a falling durian, the address that received the wrong delivery was Gateio.

The panic caused by FTX continues to proliferate.
Hodl tight Bitcoin. We're going to the galaxy.

source: ^{[Bitcoin Archive]}

How I wish this was truly a mistake but looking at it? no this is just a popularization , HODLING is of course the best way to keep in this market but expecting too much soon isn't a good idea because this may bring us losses instead of earning.
FTX brings investors suffering so lets not get into another this expectation and besides let us admit that BEar is really what in the market now .

Hodl tight Bitcoin. We're going to the galaxy.

The technology behind bitcoin is blockchain. Many financial institutions are now researching and investing in blockchain technology, which is why bitcoin value continues to rise. Bitcoin is scarce, decentralize and transparent. No one has access to it than you.

Indeed but not as soon as how OP wanted to tell us here.

[wxa7115]

So you really think this was an accident? Those exchanges just share those funds with each other to take a snapshot of this proof of reserve. They just can not admit it in public so they have said it was an accident. No one sends 320k ETH worth 400M in an accident because for big transactions those exchanges must have a multi-signature that needs to be approved by a few people.

Yes, this is most likely the reason, same amount of crypto being shared around by this exchanges, just to show that they have the reserves as they claim. CZ started the whole craze, just to show that they have the reserves to back it up.

But even themselves moved it right away right?

So make sense for other crypto exchanges, whether by so called mistakes or not, to also shift fund around to show and take a snapshot of their proof of reserves so that their customers will be assured that they have the funds.

I have not thought about it but it makes sense, it is very unlikely that exchanges sitting in a lot of money from their clients are simply going to store that money away.

And we have seen its happening through history many times, banks originally were supposed to be just a place for people to store their gold safely, but bankers realized that if they could lend that gold they could earn a lot of money, but as you may guess if some of those loans turned out bad then the bank will lose the ability to give the money back to their clients in case of a bank run, and it is possible we are experiencing the same thing in this market.

[EarnOnVictor]

So you really think this was an accident? Those exchanges just share those funds with each other to take a snapshot of this proof of reserve. They just can not admit it in public so they have said it was an accident. No one sends 320k ETH worth 400M in an accident because for big transactions those exchanges must have a multi-signature that needs to be approved by a few people.

Yes, this is most likely the reason, same amount of crypto being shared around by this exchanges, just to show that they have the reserves as they claim. CZ started the whole craze, just to show that they have the reserves to back it up.

But even themselves moved it right away right?

So make sense for other crypto exchanges, whether by so called mistakes or not, to also shift fund around to show and take a snapshot of their proof of reserves so that their customers will be assured that they have the funds.

There is a sense in what you are saying, but I would still believe that it's an allegation that we can't prove yet. Although I have never trusted exchanges that are underregulated. If the online brokers that are duly regulated could still be perpetrating shady deals, how much more exchanges?

My wish is that they would not cause further problems for Bitcoin and others, I don't think the crypto space could take more of the problem which might start from people unveiling their (exchanges) coverups.

[Lubang Bawah]

I am optimistic that the market will soon rise, if we have a plan to save money in a bank or invest in shares, I suggest to divert to Bitcoin, bank interest is not more than 10% per year, and profit from very small shares can even lose money, but with History and Facts, Bitcoin can be easy to profit 100% in a year.

[Yatsan]

I am optimistic that the market will soon rise, if we have a plan to save money in a bank or invest in shares, I suggest to divert to Bitcoin, bank interest is not more than 10% per year, and profit from very small shares can even lose money, but with History and Facts, Bitcoin can be easy to profit 100% in a year.

Market will rise indeed but I doubt it would be this year. The market and outside exonomy are both struggling which makes it sketchy for a high market value on cryptos before this year end. Enduring market downfall at this moment would be the main thing for investors to be able to survive this bear trend. We may expect a bright future for this technology but its nature of volatility won't make the upward movement consistent. Also, something to point out is easy profit. This is a misconception we should be removing from our minds as well as with non-crypto users. Nothing's easy in this industry. If you are an investor you need to endure sudden changes with market prices. If you are a trader you have to study graphs of price directions and if you are into campaigns, you have to work hard to be paid. Nothing's easy.

[ethereumhunter]

I am optimistic that the market will soon rise, if we have a plan to save money in a bank or invest in shares, I suggest to divert to Bitcoin, bank interest is not more than 10% per year, and profit from very small shares can even lose money, but with History and Facts, Bitcoin can be easy to profit 100% in a year.

However, the market will rise again and the current situation will change. We need to be patient and not give up seeing the situation happening to bitcoin and we should be grateful that we are still allowed to invest in bitcoin at a lower price than before. This is the time for us to save more bitcoins and hold onto them until the price reverses. Thus, we can return to profits and many predict that the increase in bitcoin this time can be very high from the previous ATH. So keep hold of your bitcoins and stay patient.

[fuguebtc]

I am optimistic that the market will soon rise, if we have a plan to save money in a bank or invest in shares, I suggest to divert to Bitcoin, bank interest is not more than 10% per year, and profit from very small shares can even lose money, but with History and Facts, Bitcoin can be easy to profit 100% in a year.

Optimism is good but being optimistic without relying on any research or analysis is like investing blindly, I would call it gambling.
When comparing to invest in addition to comparing profits, you should also compare the risks that we face, bank savings are not very profitable but in the short term it is safe. Bitcoin can bring huge profits only if you hold it for long time, short term can make you lose. Bitcoin doesn't always make a profit every year like you say, bitcoin doesn't work like that.
As for market predictions, looking at the economic situation and recent market events, I don't think there will be a bull market anytime soon.

[Kadal Ijo]

I bought when the price was expensive, even the cheapest price I bought was $ 19k and the highest price was $ 52k, actually I had a chance to sell and profit, unfortunately I was too optimistic that the market would rise so I continued to hold, now the price is very cheap and if I sell will definitely lose and there is no other choice besides hold or maybe buy again.

[bitterguy28]

I bought when the price was expensive, even the cheapest price I bought was $ 19k and the highest price was $ 52k, actually I had a chance to sell and profit, unfortunately I was too optimistic that the market would rise so I continued to hold, now the price is very cheap and if I sell will definitely lose and there is no other choice besides hold or maybe buy again.

you bought at those ends? 19k and 52k yet not selling anything ? wondering how much capitalization you have for this desperate holding.
if I were to buy at 52k then I should have sold that when the price fell to at least 40 then consider buying again at that 19k .
it is not selling at losses mate instead that is practicality action of investors to sell even in lower price but will but in lowest.

[savetheFORUM]

I bought when the price was expensive, even the cheapest price I bought was $ 19k and the highest price was $ 52k, actually I had a chance to sell and profit, unfortunately I was too optimistic that the market would rise so I continued to hold, now the price is very cheap and if I sell will definitely lose and there is no other choice besides hold or maybe buy again.

you bought at those ends? 19k and 52k yet not selling anything ? wondering how much capitalization you have for this desperate holding.
if I were to buy at 52k then I should have sold that when the price fell to at least 40 then consider buying again at that 19k .
it is not selling at losses mate instead that is practicality action of investors to sell even in lower price but will but in lowest.

I don't think he bought a whole btc at those prices but I think he only bought some though I think his capital is still huge because he is not scared to buy at any levels and then he looks willing to buy more because he doesn't seem to have a plan of selling yet.

I also do not think that he will sell at a loss because he didn't even sell when the price have risen up. Selling at a loss is also risky because there is no way to tell if the price will drop more and what if the price have recovered instead right after we sell? We are going to regret it for sure. @Kadal Ijo I know that being optimistic is a good thing but we must also be realistic with our goals so that we can also experience to profit.

[Smack That Ace]

I bought when the price was expensive, even the cheapest price I bought was $ 19k and the highest price was $ 52k, actually I had a chance to sell and profit, unfortunately I was too optimistic that the market would rise so I continued to hold, now the price is very cheap and if I sell will definitely lose and there is no other choice besides hold or maybe buy again.

you bought at those ends? 19k and 52k yet not selling anything ? wondering how much capitalization you have for this desperate holding.
if I were to buy at 52k then I should have sold that when the price fell to at least 40 then consider buying again at that 19k .
it is not selling at losses mate instead that is practicality action of investors to sell even in lower price but will but in lowest.

I don't think he bought a whole btc at those prices but I think he only bought some though I think his capital is still huge because he is not scared to buy at any levels and then he looks willing to buy more because he doesn't seem to have a plan of selling yet.

I also do not think that he will sell at a loss because he didn't even sell when the price have risen up. Selling at a loss is also risky because there is no way to tell if the price will drop more and what if the price have recovered instead right after we sell? We are going to regret it for sure. @Kadal Ijo I know that being optimistic is a good thing but we must also be realistic with our goals so that we can also experience to profit.

It wasn't exactly optimism but a bit of greed that occupied his mind, that happens to most investors when they see their assets are going up and they want a little more profit so they don't sell. But when the price starts to drop they will regret more for not selling when there is a profit so there will be no reason to cut losses, and he is becoming a reluctant holder in the end. It is a lesson, taking profits is never wrong and always have a plan, always have a goal in investing, never let greed take over our minds.

[Plaguedeath]

We still don't know what's the future of Bitcoin price will be, but if anyone want to hold Bitcoin need to accept the risk if their investment can go wrong since no one can predict the future. It's true Bitcoin have been survive from many crash in the past few years ago, but past performance doesn't 100% guarantee the future performance since there's many improvement.

If Bitcoin get banned in every countries in this world, it will really give a big impact to Bitcoin price.

[btc_angela]

We still don't know what's the future of Bitcoin price will be, but if anyone want to hold Bitcoin need to accept the risk if their investment can go wrong since no one can predict the future. It's true Bitcoin have been survive from many crash in the past few years ago, but past performance doesn't 100% guarantee the future performance since there's many improvement.

Yes, we don't know what the future holds, but if we are going to look at it's past history to be able to predict what's the possible scenario, then we know that there is a huge chance to see another bull run in 2024-2025.

There are speculations in our last bull run that we will have a super cycle, but it doesn't happen so the 4 year cycle is still going to hold, in my opinion.

If Bitcoin get banned in every countries in this world, it will really give a big impact to Bitcoin price.

Don't know if this is possible or how can they ban bitcoin, on the contrary, we have countries like El Salvador and others that are bitcoin friendly. Only government that are not open or doesn't want to give control to their people opposed to bitcoin, and those are authoritarian regime.

[carlfebz2]

I bought when the price was expensive, even the cheapest price I bought was $ 19k and the highest price was $ 52k, actually I had a chance to sell and profit, unfortunately I was too optimistic that the market would rise so I continued to hold, now the price is very cheap and if I sell will definitely lose and there is no other choice besides hold or maybe buy again.

you bought at those ends? 19k and 52k yet not selling anything ? wondering how much capitalization you have for this desperate holding.
if I were to buy at 52k then I should have sold that when the price fell to at least 40 then consider buying again at that 19k .
it is not selling at losses mate instead that is practicality action of investors to sell even in lower price but will but in lowest.

I don't think he bought a whole btc at those prices but I think he only bought some though I think his capital is still huge because he is not scared to buy at any levels and then he looks willing to buy more because he doesn't seem to have a plan of selling yet.

I also do not think that he will sell at a loss because he didn't even sell when the price have risen up. Selling at a loss is also risky because there is no way to tell if the price will drop more and what if the price have recovered instead right after we sell? We are going to regret it for sure. @Kadal Ijo I know that being optimistic is a good thing but we must also be realistic with our goals so that we can also experience to profit.

It wasn't exactly optimism but a bit of greed that occupied his mind, that happens to most investors when they see their assets are going up and they want a little more profit so they don't sell. But when the price starts to drop they will regret more for not selling when there is a profit so there will be no reason to cut losses, and he is becoming a reluctant holder in the end. It is a lesson, taking profits is never wrong and always have a plan, always have a goal in investing, never let greed take over our minds.

Some people do really just let those opportunity to sell on profits and rather hold up no matter what but its true that it could really leave out some regretful feeling considering that we could really make money

without the need on holding up for couple of years.But well each person does have its own decisions towards their investment on where whether they would be selling or not into that particular point.

Its not really bad on being optimistic towards price but dont make yourself able to believe nor force out about those high numbers because it cant really be just happening
on point or on a short period of time.Everything would really takes a process.

[Rana590]

We still don't know what's the future of Bitcoin price will be, but if anyone want to hold Bitcoin need to accept the risk if their investment can go wrong since no one can predict the future. It's true Bitcoin have been survive from many crash in the past few years ago, but past performance doesn't 100% guarantee the future performance since there's many improvement.

If Bitcoin get banned in every countries in this world, it will really give a big impact to Bitcoin price.

Still now most of the countries are not accepting Bitcoin as legal currency but Bitcoin is surviving. If we think about digital world, currency and payment gateway then Bitcoin is the best option. It is true that we can't predict what will be in the future but all we know how much potential Bitcoin is. That's why we need to invest on Bitcoin and hold strongly for future benefits.