Hodl tight Bitcoin. We're going to the galaxy

[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.