Will Crypto survive?

[TheGreatPython]

I worry that this may be the beginning of the end to many long lasting projects and potentially bitcoin itself...

I don't know if you are referring to projects in the sense of CEX or various altcoins that sprout like mushrooms after the rain, but Bitcoin does not depend on them, even if they all fail, Bitcoin will survive. What we need is a lot of firm regulation regarding who can start a crypto exchange and in what way, and that the same CEX cannot list various at least suspicious projects.

In other words, people like Kwon or Bankman should be made as difficult or completely impossible to play in the crypto world because, firstly, they do not know what they are doing, and secondly, they do not accept responsibility for their actions. Both of them should be in prison, and all their assets should be seized and sold so that their clients can at least partially settle, and when they get out of prison, they should be banned for life from doing any business related to finance.

I believe in both of them happening to be fair. I do not know what he meant, but I believe that both the small projects for tokens and coins will go down, but I also believe that some exchanges will go down as well, most of them are terrible. Just focus on what you can do with the most known ones and you will be fine.

I doubt anyone would be hurt if they buy bitcoin and hold it on binance, both the coin is great and the exchange is great and they will be fine, but that doesn't mean it’s that much of a problem. Let’s accept the fact that it's going to be a difficult thing to find that commonly, only a few coins and few exchanges give that much trust to people and you have to realize that.

[Z-tight]

Watching all the people we convinced to get into crypto get wrecked.

If i convince someone to get into BTC, i usually have the time and patience to tell them some dos and don'ts. For dont's they must never leave their money in an online account, and they should avoid centralized tokens and coins, i use the term of not your keys, not your coins to convince them on how important it is for them to hold their keys, and not allow a centralized exchange do it for them. So if one is trying to convince someone or people about BTC or crypto, let them have the right knowledge to be able to give the best advice, and just maybe their converts wouldn't get burnt next time.

[qwertyup23]

Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

Along with the negative outcomes and experiences you have mentioned, why don't you focus more on the brightside?

Bitcoin has been used as legal tender in El Salvador. Lots of exchanges and BTC ATMs have been implemented all throughout the year; and lots of countries have started to accept and integrate cryptocurrencies to their financials. Even if there are some negative experiences with BTC, your primary basis should be its price- the price remained constant and booming ever since it was released.

Though you may have some doubts over it, the fact that it has been ongoing for nine (9) years now with a significant price tag on the market is the basis that everything is sailing consistently.

[Minor Miner]

Observation there is these two words people don't comprehend "Crypto" and "Bitcoin".
To me I understand crypto to be a general name for all altcoin, meaning whatever that affects cryptos doesn't have any correlation with Bitcoin because it has came to exist before any other altcoin there today.

Bitcoin is the first and is considered the creator of the crypto industry, it can be said that bitcoin could still exist if all altcoins disappeared, but to say they are not correlated is completely incorrect. I believe that without altcoins bitcoin would not be as popular and valuable as it is today. Nowadays, people enter the market for the hype of altcoins not bitcoin which is why you see more people preferring to invest in altcoins over btc, but after losing money with alts, they realized that only bitcoin is what they were looking for.

Without altcoins and markets, bitcoin would likely be a stable currency or alternative payment method to fiat, and that was the original goal that Satoshi created bitcoin. But if bitcoin wasn't volatile, not making profits, there wouldn't be too many people using it. Altcoins are necessary to celebrate the uniqueness and uniqueness of bitcoin.

[Adbitco]

Sorry mate
What I mean by correlation is that when a hack occurs or token losing value just as FTX it doesn't affect bitcoin rather the market could like drop causing seriously dump but being that is giving any action to bitcoin which is not possible, that was why I said it doesn't correlates with bitcoin. So the reason for bitcoin existence was the action which altcoin was created but in general bitcoin still maintain it's value.

[isaac_clarke22]

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Sometimes people do not have the choice to do so if they can't help but still use custodial wallet/centralized exchanges. I got to admit that I use custodial wallets that are primarily localized here in my country since I needed their service to buy me a mobile phone credits, shop online and other usual stuffs I can do with fiat without having to go outside.

If there is someone else that I would advise the same as yours, it would be that if s/he will hold a money in an online/web wallet, at least just do it if it will be used immediately otherwise just avoid it at all cost.

[Oilacris]

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Sometimes people do not have the choice to do so if they can't help but still use custodial wallet/centralized exchanges. I got to admit that I use custodial wallets that are primarily localized here in my country since I needed their service to buy me a mobile phone credits, shop online and other usual stuffs I can do with fiat without having to go outside.

If there is someone else that I would advise the same as yours, it would be that if s/he will hold a money in an online/web wallet, at least just do it if it will be used immediately otherwise just avoid it at all cost.

There are really things which you cant really be able to avoid on using up these centralized platforms or custodial things which it does really give out that kind of convenience and easiness
of buying and selling out your coins.
In speaking with unfortunate events here on this market then its never been something new.If you've been here on this market for years then you are fully aware of that,
but i cant blame out other people to be that emotional or having these kind of reactions considering that we are just humans.
We would be raising up questions something like this if this market would survive or not? No one really knows but to mind off that this isnt the first time for these things to happen.

[Luzin]

Sorry mate
What I mean by correlation is that when a hack occurs or token losing value just as FTX it doesn't affect bitcoin rather the market could like drop causing seriously dump but being that is giving any action to bitcoin which is not possible, that was why I said it doesn't correlates with bitcoin. So the reason for bitcoin existence was the action which altcoin was created but in general bitcoin still maintain it's value.

You're right. Crypto is valuable because all believe. If linking with FTX I think they are one of the contents of crypto. There is no close relationship, but since FTX is part of the crypto circle then the impact is trust. Perhaps this will make many people think crypto is not safe. So many people are starting to stay away from crypto. Although if I look in the same direction, some cases do always appear. But at some periods it had no effect on Bitcoin which could always again reach ATH.

[glendall]

Is the negative outlook too much now?



Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

The negative side of crypto/bitcoin is only for people who have been cheated and don't want to repeat the same mistake, but we can take the positive side from that they don't want to have many victims of fraud (fraud often happens to people new to crypto)
as long as bitcoin and crypto are running and continue to prove their performance there is no reason people who have benefited from bitcoin hate and spread negative info will always think positively about bitcoin itself

[GeorgeJohn]

Let me inform you op, bitcoin acceleration and Bitcoin degradation or decrement has been rotational for years back, so therefore I'm assuring you that they is every tendency of Bitcoin surviving because what is happening now in the cryptocurrency is not the first time Bitcoin have experience alot of degradation in the market,. Bitcoin has fall and ressurect severally so therefore this is not the first and it shall not be the last, so let us be comfortable and also assume that this bearish season since this 2022 is a correction.

[redsun114]

It only shows that earlier people in cryptos are much brave because they hold on despite the cryptos are still a new thing that time and they are not aware if what can come next. People in cryptos today must be ashamed of what they have acted knowing that cryptos are not a new thing anymore and it already gone through a lot of tough battles yet it is still there.

Crypto will continue to survive no matter what because there are always people who will have a solid faith on it and most of these people are the pioneer in crypto world. It's only one exchange that have collapsed but we still have plenty of them that are trusted. People should worry less.

[Ayers]

The market is going through very difficult days and today bitcoin price is down again, but is anyone here like me? I don't feel nervous or scared, I see the market is moving in the right direction. I mean there need to be these drops and the market needs constant cleaning, weak projects or investors who just want to get rich quick shouldn't stay in the market. Maturity requires trade-offs and sacrifices, a market that only goes up is an unsustainable market.

Same here for me. The market needs to go down for a bit, maybe it is one of the longest period of a bearish market with all this luna and ftx issues. But I think the market will go up eventually after all of the shit coin holders go out. I am not also scared of this situation I saw bitcoin hitting 60k as well as going down under 5k.

Yes, this is not the first time the market has fallen and it is not the first time something like this has happened, these crashes not only did not weaken the market but also made the market more mature, if we pay attention, we can see that after each bear season passes, the market will rise again and will grow stronger than before.

Looking at the market capitalization when Mt.gox collapsed, the market cap was only a few hundred million dollars but then grew to almost 3 trillion by 2021 and this time we're under 1 trillion but I believe that after this bad news is over, the market will come back and grow stronger, I believe we will hit 5 trillion for next bull season. They will soon be as big as the gold market and will stand side by side with the stock market in the future.

[Tubicolous]

These things will continue to happen but won’t affect crypto’s survival. It is highly unlikely until there’s some extreme case scenario where the survival of crypto is at stake, which is highly unlikely as of today.

[EarnOnVictor]

The simple answer to your questions is Yes, crypto will survive. It's good that you reference the case of Mt. Gox, but this happened in the year 2014 when the adoption of Bitcoin and others are not as high as this. Despite that, crypto survived till this year and still has a promising future, so the case of FTX should not be an issue. The effect has been well-priced and I expect Bitcoin and others to be finding their paths upward soon.

Blockchain technology is not anyhow technology, it is an advanced technology that this general and the next need. So, it can't fade away just like that.

[maydna]

The simple answer to your questions is Yes, crypto will survive.

That is the correct answer. I also believe that crypto will survive this condition. This is a test for us and crypto because with the various cases that have occurred in crypto, and crypto has survived until now, this proves that crypto is slowly starting to strengthen and get a good position. The FTX case is like Mt. Gox, but the FTX case may have a big impact on crypto. But we must remain patient and calm to see that crypto can survive. The market will rise again one day, and now it is like the previous incident where the market is on the decline, and you don't have to worry.

[barto123]

crypto is a scam, it's no better than the government fiat currency that has enslaved the world

bitcoin will survive because it has no single point of failure where it can corrupted. I can see a single point of failure in every sh*tcoin. 2017 fork war is a testament to that

it will survive because people will have no choice if they want to prevent their savings from being eroded

it will survive in the age of CBDC's, because people will want to circumvent tyrannical control of their government

people will say:

governments will destroy it with regulation

bitcoin has been taken over by blockstream

bitcoin was created by the cabal - it's a surveillance coin

the reality is:

it's a trojan horse on this ponzi of a financial system

it can't be stopped or truly regulated

it's completely open-source, if there anything nefarious it would be picked up straight away

in regards to surveillance, yes it can be tracked - but privacy is optional & if used correctly can be more private than monero

the cypher punks always find a way to route around government

just my 2 sats

[serjent05]

the reality is:[/b]

it's a trojan horse on this ponzi of a financial system

Definitely, Bitcoin is a trojan horse on the Ponzi scheme of the financial system but the question would be, can it penetrate the financial system to make modification on the current centralized fiat system?  I don't think the government will allow it to dictate the flow of the financial industry but definitely, government will make use of it to profit and gain tax from different services that take advantage of Bitcoin opportunities.

it can't be stopped or truly regulated

Yes the bitcoin blockchain can't be stopped or regulated but centralized exchanges that are often the endpoint of Bitcoin when holders decided to use it to buy stuff are often regulated.  The lack of local businesses that directly accepts Bitcoin using the p2p method makes this government regulation somehow successful.

it's completely open-source, if there anything nefarious it would be picked up straight away

That is the beauty of Bitcoin and its open-source nature, people are able to verify and check whether the system is tampered or not.  Besides, the block validation of miners are very strong that hacking it will cost the hacker billions of dollars before he can change or modify the network.

in regards to surveillance, yes it can be tracked - but privacy is optional & if used correctly can be more private than monero

I think as long as the address isn't connected to personal data, I doubt Bitcoin can be more private tha Monero because BTC isn't built for privacy purposes.

[Questat]

It only shows that earlier people in cryptos are much brave because they hold on despite the cryptos are still a new thing that time and they are not aware if what can come next. People in cryptos today must be ashamed of what they have acted knowing that cryptos are not a new thing anymore and it already gone through a lot of tough battles yet it is still there.

Crypto will continue to survive no matter what because there are always people who will have a solid faith on it and most of these people are the pioneer in crypto world. It's only one exchange that have collapsed but we still have plenty of them that are trusted. People should worry less.

And whether we like it or not, dump will come and make doubtful people sell their money while believers catch it. Until now, many people are still questioning the capability of Bitcoin, many were still thinking that drops are a sign of collapsing platform. I'm not sure how this mindset can be changed but surely, not all who are here investing in crypto have faith and a strong hand. Many individuals will lose their Bitcoin and regret it later.

[ultrloa]

It only shows that earlier people in cryptos are much brave because they hold on despite the cryptos are still a new thing that time and they are not aware if what can come next. People in cryptos today must be ashamed of what they have acted knowing that cryptos are not a new thing anymore and it already gone through a lot of tough battles yet it is still there.

Crypto will continue to survive no matter what because there are always people who will have a solid faith on it and most of these people are the pioneer in crypto world. It's only one exchange that have collapsed but we still have plenty of them that are trusted. People should worry less.

And whether we like it or not, dump will come and make doubtful people sell their money while believers catch it. Until now, many people are still questioning the capability of Bitcoin, many were still thinking that drops are a sign of collapsing platform. I'm not sure how this mindset can be changed but surely, not all who are here investing in crypto have faith and a strong hand. Many individuals will lose their Bitcoin and regret it later.

This is how to test people's patience towards on their participation on crypto space and if they survive on worst condition of the market for sure they can last until it pump again. Those people doubt about it and leave will just regret later why they they easily afraid on certain situation and didn't pursue their participation in this space. Market normally dump and it's not only happening on crypto but also with forex so people need to understand about this and the only thing they need to develop is their patience so that they will not be greedy to hold for more years even if they are in profit already so that they can take advantage on glory days of crypto once it having a bull run.

[coolcoinz]

It will survive 100% but only if by crypto you mean bitcoin. The whole industry may shrink by a lot but this can be treated like a cleansing event where only the strong survive, but those who do will gain even more by eating the weak. The money has to go somewhere, right? This means that some of the funds invested in dying projects and exchanges will go to the ones that prove to be legit. It will take some time but I believe the battlefield will clear out before 2024.