FTX drama stressing people for no reason | How to stay neutral

[Cookdata]

What contributed to the Youtube negativity was that the majority of them were all affected and I think the fight was between the Influencers and retailers due to some altcoins SBF invested in and the ones they bought and left on the exchanges, what even makes it worse is that most of the Twitter and Youtube influencers got affected because there life savings where wipe away from their balance in the FTX exit exchange, remember FTX got them with huge bonuses and they all felt for it
They were busy shilling for the FTX exchange, they keep pilling up the bonus but greed didn't allow them to withdraw them and when the exchange becomes insolvent overnight, they all became sleepless with the bear market. One bitcoin remains one, all this market winter doesn't change the narrative of bitcoin.

[1714655926]

1714655926

[fennic]

There are many reasons behind people are just panicking because news is a thing that makes people fear and the start to panic and than the go for sale orders. In this way they are able to crash market. SBF arrest is a big concern cause he was a big celebrity and his exchange was among one of the popular exchanges too. That makes people more fear cause they do not have to trust anyone.
FTX attracted many big investors loosing billions of dollars and that was not good.

[ginsan]

There are many reasons behind people are just panicking because news is a thing that makes people fear and the start to panic and than the go for sale orders. In this way they are able to crash market. SBF arrest is a big concern cause he was a big celebrity and his exchange was among one of the popular exchanges too. That makes people more fear cause they do not have to trust anyone.
FTX attracted many big investors loosing billions of dollars and that was not good.

Some of them have lost their savings due to the FTX incident. The market has not fully recovered from this case because if you monitor the market movement, it will slowly strengthen and then fall again. We will continue to see news about ftx and fud circulating quite loudly out there especially recently that binance has been attacked by fud hard enough that it continues to haunt weak hands in situations like this. The crypto industry is constantly being attacked by fuds because they keep frying negative news for reloading.

as op said, market participants will continue to be worried if they still trust third parties for their assets and one of the positive options may be that the situation will change completely if they do not trust third parties for their assets.

[Welsh]

What contributed to the Youtube negativity was that the majority of them were all affected and I think the fight was between the Influencers and retailers due to some altcoins SBF invested in and the ones they bought and left on the exchanges, what even makes it worse is that most of the Twitter and Youtube influencers got affected because there life savings where wipe away from their balance in the FTX exit exchange, remember FTX got them with huge bonuses and they all felt for it
They were busy shilling for the FTX exchange, they keep pilling up the bonus but greed didn't allow them to withdraw them and when the exchange becomes insolvent overnight, they all became sleepless with the bear market. One bitcoin remains one, all this market winter doesn't change the narrative of bitcoin.

Unfortunately, these infulencers basically switch their opinion on a penny too. So, while many people probably thought it was good for publicity, and therefore adoption for these to be promoting it. There's always a motive, and it's money. They were directly getting paid for it, and unfortunately their involvement probably hurt Bitcoin more than it helped it.

Since now you've got them apologizing for their involvement, and promoting it. That's going to be there permanently. The NFT craze was mainly down to these Youtubers promoting it. That's the world we live in now though, people don't do their own research anymore, they listen to their favourite Youtuber.

[serjent05]

A person cannot stay neutral if he lost all his money on FTX collapse.  Even people that isn't lost their money but has Bitcoin holdings is affected too.  How can they relax if they saw their holdings in red especially when they are dealing with day trading.  Those long time holder may probably just chill out because they knew that the Bitcoin market will recover but those who are living in day to day trade will always gets stressed out when something bad happen especially when a day trader just recently bought BTC before the collapse happen.

What contributed to the Youtube negativity was that the majority of them were all affected and I think the fight was between the Influencers and retailers due to some altcoins SBF invested in and the ones they bought and left on the exchanges, what even makes it worse is that most of the Twitter and Youtube influencers got affected because there life savings where wipe away from their balance in the FTX exit exchange, remember FTX got them with huge bonuses and they all felt for it
They were busy shilling for the FTX exchange, they keep pilling up the bonus but greed didn't allow them to withdraw them and when the exchange becomes insolvent overnight, they all became sleepless with the bear market. One bitcoin remains one, all this market winter doesn't change the narrative of bitcoin.

Unfortunately, these infulencers basically switch their opinion on a penny too. So, while many people probably thought it was good for publicity, and therefore adoption for these to be promoting it. There's always a motive, and it's money. They were directly getting paid for it, and unfortunately their involvement probably hurt Bitcoin more than it helped it.

Obviously, most influencer is just for money.  They always wanted their activities to be paid that is why I just ignore influencer bumping any kind of cryptocurrency because when they did this, there is almost no truth about what they will utter.

Since now you've got them apologizing for their involvement, and promoting it. That's going to be there permanently. The NFT craze was mainly down to these Youtubers promoting it. That's the world we live in now though, people don't do their own research anymore, they listen to their favourite Youtuber.

Worst is they let these people make decision for them.

[crashedanon]

Something is not adding up, Kevin O. Leary who also lost millions on the FTX crash is now after Binance CEO saying that CZ is responsible for the FTX fate, like CZ did it intentional and if CZ was silent the whole thing would have go on and become a success? I am quite lost with this man aim right now.

I think Kevin O. Leary is responsible for the Binance massive FUD withdrawal that took place days ago, he really wants to hurt Binance exchange by all means. 

Yes, it is not over yet, there's more to this chaos.

[harapan]

People who have lost money in this crash will inevitably face stress and depression. They just lost money, they can't help it. People who spread FUD and hate against cryptocurrency because of issues like these surfacing in the mainstream media could be controlled however, be made to realize that bitcoin isn't all scams and taking advantage of poor average joes all for the benefit of a single person. It's a good thing that for one, SBF is already arrested and is projected to face consequences for actions he committed that led to the demise of this massive exchange. So the future is looking a little bright than what people would expect.

Unfortunately this is a stain in the reputation of this market that is not going to be easy to erase, while the collapse of Mt Gox was bigger in terms of the coins that were lost and at the time it was way more influential than the FTX exchange, at the same time this market is way more popular now and the losses in terms of fiat are bigger as well, so it would not surprise me if this single event was enough to scare a lot of people away from this market and as such delay the appearance of a new bull market.

People has lost alot if you do the checks ranging from longer term holders, retirement funds and money for holidays all has been cut short.
I don't know how they handle this but I hope they come out of this depression. One who have lost big amount of money will know how and what it takes to be in that position.
SBF did the wrong thing it cost both good for the side and area of long term buyers do they can get it relatively low. And people who lost the money also are the bad sides of it.

[Daltonik]

Meanwhile, Sam Bankman-Fried will soon appear in court in the United States, after he consented to extradition to the United States after he signs a package of documents in the court of the Bahamas, after which, accompanied by FBI agents, he will be taken to the United States where he faces several criminal charges, such information was reported by Bloomberg with reference to the acting Duties of the Commissioner of Correctional Institutions of the Bahamas, Doan Clear.

Source: https://www.bloomberg.com/news/articles/2022-12-21/bankman-fried-to-fly-to-us-on-wednesday-escorted-by-fbi-agents?leadSource=uverify%20wall
Archive: https://archive.ph/0kKwU

[South Park]

Unfortunately this is a stain in the reputation of this market that is not going to be easy to erase, while the collapse of Mt Gox was bigger in terms of the coins that were lost and at the time it was way more influential than the FTX exchange, at the same time this market is way more popular now and the losses in terms of fiat are bigger as well, so it would not surprise me if this single event was enough to scare a lot of people away from this market and as such delay the appearance of a new bull market.

People has lost alot if you do the checks ranging from longer term holders, retirement funds and money for holidays all has been cut short.
I don't know how they handle this but I hope they come out of this depression. One who have lost big amount of money will know how and what it takes to be in that position.
SBF did the wrong thing it cost both good for the side and area of long term buyers do they can get it relatively low. And people who lost the money also are the bad sides of it.

I really hope they find the strength to overcome this massive loss, when luna crashed there were many posts on reddit about people that were thinking about ending their lives, so who knows how many people lost something more important than money due to the luna crash? And it would not surprise me to find out that a similar thing happened due to the collapse of the FTX exchange, so while I would like to be positive about the potential outcomes for those people, it is difficult for me think that way.

[mich]

Well it is nice to know there is some money left but if you had money in FTX and think you are going to get any then you are going to be upset when reality sets in. That money will go to other people before the small guy who has a few hundred in there sees his money.

Hell people are still waiting for their investments from Mt gox and this was from 2014! And even if someone who got scammed by FTX does want to get their money there is so many other people way ahead of you in the line wanting to claim their stolen funds. I am lucky enough to not have had any money in there but I still feel awful for honest people who got scammed by him.

[Kakmakr]

To simplify all of this.....

A lot of people got burnt with this whole FTX Drama and now they are "Butthurt" ...overly annoyed and out for revenge. This exact thing happened after MtGox happened. You had the butthurt crowd spewing FUD and also the Bitcoin haters (competition) jumping on the bandwagon and grabbing the opportunity to spread more FUD about Bitcoin and Crypto currencies. 

This is human nature... if you get hurt, you go on the attack to defend yourself or even just out of revenge. Let's just ride it out and counter all FUD on social media with facts.   

[shawanetata]

Exchanges allow Bitcoin to circulate. It makes it easy for me to buy bitcoins, but it also makes it easy for me to lose them. Because I can't control myself, I use Bitcoin to make transactions. I know that I bear the greatest responsibility and can't blame anything else.

[Daltonik]

People who have lost their funds from the actions of the FTX and Alameda Research management can still count on compensation in the future after the arrest of SBF and now also Caroline Ellison and FTX co-founder Gary Wang, who have already pleaded guilty, as reported by theblock, but that's how long all these proceedings will last for now, no one thinks I can say maybe.
So far, this can only bring at least some moral consolation for the victims.

[skarais]

To simplify all of this.....

A lot of people got burnt with this whole FTX Drama and now they are "Butthurt" ...overly annoyed and out for revenge. This exact thing happened after MtGox happened. You had the butthurt crowd spewing FUD and also the Bitcoin haters (competition) jumping on the bandwagon and grabbing the opportunity to spread more FUD about Bitcoin and Crypto currencies. 

This is human nature... if you get hurt, you go on the attack to defend yourself or even just out of revenge. Let's just ride it out and counter all FUD on social media with facts.   

It is undeniable that FUD will always be there to break people's optimism about crypto. I don't know how much longer this FUD FTX will impact the market, but hope it melts soon. Of course I don't think FTX has made bitcoin lose the trust of its holders and investors, FUD FTX only affects the market in general.

I'm very optimistic about the future of bitcoin, and bitcoin's decline and its difficulty breaking $20K was largely unaffected by FTX or Luna, but it's just a normal cycle after bitcoin hits ATH. There is a breath of fresh air to be hoped for, but of course we need to prepare ourselves for something.

[lizarder]

Recently I have been seeing a lot of people who are key crypto players for the past few years, backing away from cryptocurrency & mining. I have a few bitcoins, but I have never trusted any exchange. I have bought BTC from people only and currently, it is in my own hands [technically speaking]. I get the whole FTX issue, but if you really are into Bitcoin & crypto, then why haven't you kept your exchange wallets in check? I personally almost never used exchanges. P2P is what bitcoin is really about.

The ups and downs of trust in crypto are common, even before the FTX case was revealed people also experienced this kind of thing. But the increase in bitcoin is actually getting bigger, both used as an investment and long term storage of assets, you do the right thing store assets in a safe place and don't trust exchanges as a place to store them. I think buying bitcoins on the exchange is not a problem, because you can send them to your personal wallet to store them.

People lost millions, now many key players are backing off. No comments on that as it is a personal choice, yet spreading negativity on youtube & Twitter about the same is pointless. If you have lost something, then somewhere it is also your responsibility. FTX is responsible for cheating people, but people now making videos about why everyone should back off from crypto is not right & is spreading unnecessary chaos in the market. I am not an expert, but this is simply stupid.

Everyone has the responsibility to invest and store assets in a safe place, the exchange is not a safe place to store assets, so any chaos involving the exchange is our own responsibility. The videos made on YouTube and the news circulating on Twitter are people's reactions and maybe they also use these two media to make money.

Most of the NEWS is fake & is a decoy from the government to get people out of Bitcoin.

Not too sure the government is fully involved in creating branding, maybe the community makes videos or news because it is based on the anxiety experienced by the community and as a fulfillment of the daily news coverage of one of the media.

[len01]

To simplify all of this.....

A lot of people got burnt with this whole FTX Drama and now they are "Butthurt" ...overly annoyed and out for revenge. This exact thing happened after MtGox happened. You had the butthurt crowd spewing FUD and also the Bitcoin haters (competition) jumping on the bandwagon and grabbing the opportunity to spread more FUD about Bitcoin and Crypto currencies. 

This is human nature... if you get hurt, you go on the attack to defend yourself or even just out of revenge. Let's just ride it out and counter all FUD on social media with facts.   

It is undeniable that FUD will always be there to break people's optimism about crypto. I don't know how much longer this FUD FTX will impact the market, but hope it melts soon. Of course I don't think FTX has made bitcoin lose the trust of its holders and investors, FUD FTX only affects the market in general.

I'm very optimistic about the future of bitcoin, and bitcoin's decline and its difficulty breaking $20K was largely unaffected by FTX or Luna, but it's just a normal cycle after bitcoin hits ATH. There is a breath of fresh air to be hoped for, but of course we need to prepare ourselves for something.

especially the impact of FUD is very influential on people who are novice investors in bitcoin.
Crypto FUD which always appears every day which is caused by the collapse of FTX will certainly always be there until a new FUD appears about something related to crypto. this kind of thing has been around for a long time and we can all fight it and are used to this kind of FUD.
even though if the public is able to study bitcoin's track record, chances are they will not be afraid of the bad news that always appears.
because bitcoin is true that it will never disappoint its investors and the storm will surely pass.

[Taskford]

To simplify all of this.....

A lot of people got burnt with this whole FTX Drama and now they are "Butthurt" ...overly annoyed and out for revenge. This exact thing happened after MtGox happened. You had the butthurt crowd spewing FUD and also the Bitcoin haters (competition) jumping on the bandwagon and grabbing the opportunity to spread more FUD about Bitcoin and Crypto currencies. 

This is human nature... if you get hurt, you go on the attack to defend yourself or even just out of revenge. Let's just ride it out and counter all FUD on social media with facts.   

It is undeniable that FUD will always be there to break people's optimism about crypto. I don't know how much longer this FUD FTX will impact the market, but hope it melts soon. Of course I don't think FTX has made bitcoin lose the trust of its holders and investors, FUD FTX only affects the market in general.

I'm very optimistic about the future of bitcoin, and bitcoin's decline and its difficulty breaking $20K was largely unaffected by FTX or Luna, but it's just a normal cycle after bitcoin hits ATH. There is a breath of fresh air to be hoped for, but of course we need to prepare ourselves for something.

especially the impact of FUD is very influential on people who are novice investors in bitcoin.
Crypto FUD which always appears every day which is caused by the collapse of FTX will certainly always be there until a new FUD appears about something related to crypto. this kind of thing has been around for a long time and we can all fight it and are used to this kind of FUD.
even though if the public is able to study bitcoin's track record, chances are they will not be afraid of the bad news that always appears.
because bitcoin is true that it will never disappoint its investors and the storm will surely pass.

Eventhough other people doesn't any amount stored on FTX still the market impact create huge stress specially when they see that there coin  is continuously declining on its value.The fud is big and although this issue has been done already for sure many traders eill try again there luck and became more optimistic on any trade they do and use all things what they can possibly help them.

[Daltonik]

SBF apparently chose the tactics of delaying the trial and the possibility of obtaining more detailed information from the prosecution from the prosecution, in fact, apparently this was his refusal to admit his guilt on the eight charges brought, the trial date is scheduled for October 2, 2023.

https://www.bloomberg.com/news/articles/2023-01-03/bankman-fried-s-not-guilty-plea-sets-up-path-to-fraud-trial

[Daltonik]

Meanwhile, SBF does not waste time in vain and, being under house arrest, releases a saga where it accuses the CEO of Binance of organizing a purposeful failure, which consisted in conducting a public relations campaign against FTX, which, in his opinion, led to the collapse of Alameda, which subsequently spread to FTX and the rest.
In general, as always happens, malicious haters are to blame for everything, not their own miscalculations, irresponsibility, greed. and ambition.

Who is interested in the SBF version here: https://sambf.substack.com/p/ftx-pre-mortem-overview

[franky1]

Meanwhile, SBF does not waste time in vain and, being under house arrest, releases a saga where it accuses the CEO of Binance of organizing a purposeful failure, which consisted in conducting a public relations campaign against FTX, which, in his opinion, led to the collapse of Alameda, which subsequently spread to FTX and the rest.
In general, as always happens, malicious haters are to blame for everything, not their own miscalculations, irresponsibility, greed. and ambition.

Who is interested in the SBF version here: https://sambf.substack.com/p/ftx-pre-mortem-overview

scam bankman fraud is trying to set up a defence that his 'victims value' is under $1m as oppose to billions for US thus trying to assume he can only be charged in band H and not band P for the US crimes
..
yet we all know he done bad things with more then just his claims of under $1m
id say $550m+ is the ball park of his crims and where his penalty points should be pointing at

     victim value               points
(H) More than $550,000 add 14
(I) More than $1,500,000 add 16
(J) More than $3,500,000 add 18
(K) More than $9,500,000 add 20
(L) More than $25,000,000 add 22
(M) More than $65,000,000 add 24
(N) More than $150,000,000 add 26
(O) More than $250,000,000 add 28
(P) More than $550,000,000 add 30.

i explained his charges and sentencing "points" better here
https://bitcointalk.org/index.php?topic=5422359.msg61575505#msg61575505

but basically if he can be charged for US offences of mis-managing/stealing/defrauding less than $1.5m which his substack is trying to convince people of.. it changes a upto 25years per charge into a 46 month(under 4 year) per charge which he could also get if multiple charges convict be serves alongside each other instead of after each other

thus changing the medias announcement of 115 years down to 3year 10 months max

..
as for the other BS he says in the substack. he never had 100billion of real value assets..
that was his BS ftt over priced and other silly self-tokens he made being over priced but not requiring all to be sold to create fake "market valuations"

i can make 5trillion tokens. sell just 1 for $1 and boom i now have a token market value of $5 trillion
and thats as fake as SBF supposed $100billion business value