A fact that the general public don't know

[Outhue]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

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[_BlackStar]

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there,

KYC was even introduced as a rule for centralized exchanges many years ago, and perhaps some additional rules will also be introduced in the future. So of course it's not just FTX and other project crashes in the industry.

this is a good opportunity for them to promote CBDC too because of this FTX fraud

It's okay, maybe they will take advantage of the situation. Then what will they think, is the government brave enough to guarantee your funds are safe in its centralized system?

but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

Both are in the same industry, so what's the difference?
Find something different than bitcoin, it's more interesting.

[mk4]

Both are in the same industry, so what's the difference?

Not because they're in the same industry doesn't automatically mean they're the same. The former is a totally custodial platform, while DeFi platforms are non-custodial.

[EarnOnVictor]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam

This is particularly not true, there have been many bearish events that nothing like scams was attached.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there

This is not about politicians, it's about government. If it's to be in terms of politics, they would even like crypto to be unregulated so that they can be getting their shady payments through it. No responsible government will not protect the lives and properties of their citizens, so I don't expect less.

this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

FTX has messed up like the previous insolvent ones, but it's a centralized company, nothing can touch the truly decentralized BTC and other cryptos wallet, so the government will always have their limitations here. It's we that should be wise in our transactions.

[Zlantann]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

I dont see the fall of FTX as a planned attack on the cryptocurrency industry, I might still be wrong. This challenge was caused by a bunch of CEOs   blinded by greed and strong desire to get more money and power. They lacked all forms of financial and risk management skills but they had access to people's hard-earned money. They made many costly financial blunder that brought down a once flourishing business.  

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

Your enemy wants to see you fall and they would take advantage of any blunder you make to attack. The government would ensure they use FTX's fall to attack the entire industry. They would try to generalize the fall of FTX an use it as a means to promote their own agenda. There is a proverb in my area that states that if oil touches a finger, it will gradually affects other fingers. But I am very sure that Bitcoin would survive this attacks.

[jossiel]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

Yeah, there are many people that are confused about crypto related companies/exchanges and thinks that they're the actual crypto. And the same goes for blockchain.

Little did these people know, it's quite vast and wide to think of its correlation. But other than that, anything that relates to the exchange hacking or exit scam, these no coiners think that the whole crypto matter is the scam.

[Smack That Ace]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

That's what I think, if Luna and FTX don't crash to cause panic in the market, then I believe there will be another project or another exchange will crash, everything seems to be planned before, not by chance. If people pay attention, there is always something happening in every bear cycle that causes the market to go down. So I've never been surprised or scared by what's happening, and certainly as you say, the crash of FTX doesn't mean crypto will crash or people always assume that Binance will. They are entirely different.

[davis196]

This is a Bitcoin/crypto forum, so I assume that most of the users must be familiar with the basic stuff surrounding the crypto world.
Only total crypto newbies would think that Bitcoin/crypto is a scam, just because some random crypto company cheated it's investors and went bankrupt. It's same as saying that the US dollar is a scam, because a US bank went bankrupt.
That's why I think that your forum thread title is totally wrong. The general public in the crypto world is completely aware of the fact that Bitcoin/crypto cannot be blamed for the FTX collapse. The scammers get what they deserve at the end of the day. Sam Bankman-Fried will end up in jail.

[Frankolala]

I don't think this is true that the politicians are part of the cause of the bearish market of bitcoin, if you look at the history of bitcoin it is always having a bear and bull run which makes it unique,so the politicians can't be involved in this bear market, its just that with government criticizing bitcoin since they are incapable to control the system and brought out CBDC makes you feel so.

There is inflation and governments are giving more time to the war,causing hardship,which makes people not able to have more than enough to save. FTX crash is not the plan of any politician but that of greedy men who decided to steal peoples funds because they can.

[Leviathan.007]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

You are right, but not completely. In every bear market, people will try to earn money and they're under pressure because of the market situation so they will trust the platform these platforms are under pressure because of the market situation, and that's why we will see more scams in a bear market.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

Forcing people to pass KYC is just a part of the story, the politicians are surely against decentralization of the economy and that's why they will force people to pass KYC to have more control.

[Eternad]

Don’t get confused too, Some of part of the crypto market is really turning into scam and not just a FUD. There’s a lot of scam happening in the crypto market and FTX, Luna and others is really commit a fraud against there investors that cause the negative impact in the crypto market. The negative sentiment is not fake because it’s base on the real fall of a huge company that liquidating there crypto holdings on the market price.

However Bitcoin shouldn’t be affected on this negative sentiment since it’s a different project which is why people need to understand to keep holding Bitcoin in time like this.

[naira]

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

FTX is just one part in helping governments accelerate CBDC adoption. But is CBDC also able to fend off fraud where enforcing KYC also doesn't appear to require us to comply with requests. After all the biggest crypto holders will surely feel like their holdings are being watched, so the CBDC will just be a piece left out.

I think the government will continue to use the FTX case as a reference, I mean because by bringing up the FTX issue they are able to scare off crypto users. This is where the government is weak in terms of finances, they focus on the policing sector, while the roots of the fraud itself are allowed to roam instead of obtaining a license to operate.

[AicecreaME]

Since Bitcoin started to become valuable, like its price booms up, some people find it a good way to scam people, because Bitcoin is a good bait or other potential cryptocurrency to lure people in, to invest their money on their "company" or to make their money triple in just 1 week or whatever. It's not new nowadays about cryptocurrency are being used on such things, after some time, it will dissipate.

When it's bearish market, expect a lot of bad news about cryptocurrency and things that are related to it.

[palle11]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

This does not look like a planned attack or one of such attack. It is a scam orchestrated by the FTX exchange manage who probably want to make unscrupulous money from the investment of genuine investors and he wasn't smart enough and the deeds he did in secret found way to meet him in the public. This is what happened and not that it was planned and it is not a way for politicians to sell CBDC down the throat of people. There is no similarity between CBDC and cryptocurrency exchange collapse.

[Findingnemo]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

FYI, KYC is already imposed on every centralized exchange we have but you can't say its completely bad and what you said is right they are company so what they will do is make money with their platform. Exchanges are supposed to be used for trading so if anyone understand that may not be worried if exchange scams or hacked because most of their cryptocurrency should be in their custody not with exchange's.

[noorman0]

-snip-
this is a good opportunity for them to promote CBDC too because of this FTX fraud

CBDCs are non-commercial so promotion is unnecessary, governments can make policies using CBDCs mandatory and ban conventional currencies outright if they want. The government also understands that crime will continue to occur in any financial system, including CBDCs, if people never increase their vigilance when using services.

[Rikafip]

FYI, KYC is already imposed on every centralized exchange we have but you can't say its completely bad and what you said is right they are company so what they will do is make money with their platform.

Even though situation with KYC is getting worse as we speak, there are still some exchanges that can be used without need for going through KYC. Here is the list. Then again, they may ask for KYC at any point so unless you are willing to provide documents if asked (or ready to lose the money if you decline to do it), they should be avoided as well.

[electronicash]

the cycle of bear and bull still happening and the worse issues we thought had happened already back in 2018 bear market. yet there are worse than worse to come. who knows what else will it be in 2026 bear market.

and also FTX hearing makes the real issues disappear from public eye like border issues and the Ukraine-Russia war that is getting worse also. the news are all about FTX but the war was not on the headlines anymore.

[Getmon]

Do you know that Sam provided financial support for Joe Biden and his Democrat party in the US presidential election? Your theory is not true because Sam has a lot of politician friends. The events that took place on FTX were not the result of politicians attacking crypto. It was because of the illegal use of FTX deposits by Sam Bankman-Fried and the failures of the financial ventures it supported. The ideal time to promote CBDC is right now by persuading individuals with limited knowledge of the risks associated with cryptocurrencies.

[Gyfts]

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

CBDC's will be implemented independently of the FTX fiasco. Government realizes they have the perfect opportunity to regulate exchanges/crypto sector using FTX as the scapegoat, when the reality is FTX was a fraudulent organization ran by corrupt leaders. So, expect regulations to come out of this, not a launch of CBDC's.

CBDC's will have the same problem FTX had, in a sense. Central authority and a reliance to trust the holder of your funds. I don't suppose it'd be prudent for the government to pitch to its citizens the same idea wrapped in a different package. Not now, at least.

[Cryptomultiplier]

The truth is that CBDC is way different from crypto currency and FTX is different too from Bit coin. With this in mind, government only tries to gain massive followers by making CBDC more accepted nationally and tend to make the use of Bit coin as scam practice.
Anyone who takes the time to understudy all there is about crypto will know this and opt for what best suits their options. The use of KYC is just to be able to keep a lid on crypto. To know or have an idea of the users and geographical location.

[jaberwock]

Since Bitcoin started to become valuable, like its price booms up, some people find it a good way to scam people, because Bitcoin is a good bait or other potential cryptocurrency to lure people in, to invest their money on their "company" or to make their money triple in just 1 week or whatever. It's not new nowadays about cryptocurrency are being used on such things, after some time, it will dissipate.

When it's bearish market, expect a lot of bad news about cryptocurrency and things that are related to it.

If only those people know that it's also possible for them to invest on their own, I think they will never entrust their wealth to someone else but the problem is they lack of knowledge and add in that those scammers also use sweet words to lure their prey.

These poor individuals can't help but become greedy and follow their commands in an instant. But like they said, experience is the best teacher. So there we go, a lot of those who got scammed, already learned their mistakes and now knows what to do next time but there are people who can't handle the trauma. They quit here permanently and there are even some who end up their lives. I feel sorry about them.

[Dunamisx]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

FTX is not a planned thing but know this that every centralized exchanges has thesame implication they can cause on it investors either by thier consent or not, they are subjected to hack attack, they cannot be predicted because this can e launched at any time on them.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things

Politics is different, centralized exchanges is also an entire different things and we need to talk more about CBDC that no matter how, all the three which are exchanges, altcoins and cbdc which are all what we don't want because they are all centralized, bitcoin is not.

[Asiska02]

The fall of FTX is a blow to them rather than to bitcoin. It's not even appropriate to compare the two because they have distinct and significant differences. FTX is a centralized exchange, and its downfall should have no negative impact on bitcoin if people conduct their own research into the events that led to its downfall. If I'm not mistaken, the fall of FTX was caused by the management team's greed and lust for wealth with other people's money. It's fine if the government uses the FTX fall to preach against bitcoin in general; it's to be expected, and they're always looking for ways to keep people away from it due to its decentralization.

[South Park]

-snip-
this is a good opportunity for them to promote CBDC too because of this FTX fraud

CBDCs are non-commercial so promotion is unnecessary, governments can make policies using CBDCs mandatory and ban conventional currencies outright if they want. The government also understands that crime will continue to occur in any financial system, including CBDCs, if people never increase their vigilance when using services.

It is true that governments can do that if they want but it seems they have decided to take at least for now a regulatory approach instead of one in which they ban this market completely, and while the collapse of FTX is giving them even more weapons to use against this market and introduce more regulations, at the same time as long as this market can keep existing the stronger it will become and the weaker governments will get as proven by the most recent economic crisis, so while they are bidding their time we are also doing the same as this market can grow big enough to the point that it could become impossible to ban it in the future.

[Smartvirus]

Bear markets or seasons has been l where the lines are drawn for most scam cryptocurrency projects. This is because, most of the projects that doesn't have proper orientation or something unique to offer the public devalues never to rise again.

The case with FTX is unique and burned out of greed for a man who saw himself as an opportunist, tried to use the resources that was at his disposal to profit himself but, its just so.etujbg he shouldn't have done. Being in custody of people's funds is a great responsibility and letting yourself think the better of yourself of it is just wrong.

I'll like to say another lesson of greed and how it could affect a crypto investor but, its no generalising for the cryptocurrency projects.

[Hypnosis00]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

I don't see this bear season as politically influenced and also with that KYC. FTX scam issue can be a huge contributing factor affecting the price and bring to huge dump but if we talk about KYC, this has already been started several years already.

Well, I can't stop people from assuming anything that causes a major drop in the market but if we understand the nature of the market, bear season will certainly come even if we have these positive market views. In fact, it was not just during bear season we saw scam issue but also during the bull season.

[Fortify]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

The reality is "private companies" that exist in jurisdictions like the USA and the EU have to follow the rules of those countries. Places like the US also possibly abuse their power when it comes to things like banking or how the US dollar is used in certain ways, effectively enforcing their financial reporting requirements on to smaller countries that cannot ignore their requests. KYC should not be considered a scary thing either if your money has come from legitimate sources - unless you've somehow earned that bitcoin solely through online sources then the banks already know what sort of earnings you are making per year and co-ordinate these things closely with tax agencies, so you're never really hiding much.

[Kelvinid]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

I'm not sure if this is a force factor or if something hugely influences the market condition. However, FTX gives us an example of why we should be careful in dealing with crypto exchanges whether it was big or small, or new or old. We have to consider the high risk in the crypto investment and that is very important of being aware and have knowledge about this. Perhaps, the idea of collecting KYC is one way to combat scams but sadly, even known exchanges had led to that situation.

[Crypt0Gore]

The truth is that CBDC is way different from crypto currency and FTX is different too from Bit coin. With this in mind, government only tries to gain massive followers by making CBDC more accepted nationally and tend to make the use of Bit coin as scam practice.
Anyone who takes the time to understudy all there is about crypto will know this and opt for what best suits their options. The use of KYC is just to be able to keep a lid on crypto. To know or have an idea of the users and geographical location.

If CBDC become more acceptable nationally or world wide it will help crypto adoption, more people will understand how digital currency works and they will know how to make transaction digitally but in the end people will get to know that Bitcoin is better.

CBDC will lose face in the end and the government will feel disappointed on the long run, let CBDC do the noise making and Bitcoin will take the favour.

[FatFork]

Even though this is an inconvenience for many of us, we must recognize that these exchanges have a lot on the line with regards to banking relationships and government oversight. Unfortunately, as it stands now, purchasing digital tokens with fiat can be a risky business, especially for those who are concerned about their privacy. Please have a look at the above mentioned exchanges, these are the ones that we recommend. You should use your own due diligence when deciding which one to use, but these should be fine.

[Kakmakr]

The same thing happens ..over and over again with all of these so-called "Hacks" .....  You find that a major Exchange gets hacked.. and the regulators goes in over drive, because that gives them an excuse to over regulate Crypto currencies. (They say that they are doing this to protect the public, but I think it suits their agenda to slow down Crypto adoption)

Some conspiracy theorists are saying that these hacks are government sanctioned to harm their only competition. (Until Bitcoin and Crypto currencies came on the scene, governments had the monopoly to print money out of thin air)  

[kro55]

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

CBDC's will be implemented independently of the FTX fiasco. Government realizes they have the perfect opportunity to regulate exchanges/crypto sector using FTX as the scapegoat, when the reality is FTX was a fraudulent organization ran by corrupt leaders. So, expect regulations to come out of this, not a launch of CBDC's.

CBDC's will have the same problem FTX had, in a sense. Central authority and a reliance to trust the holder of your funds. I don't suppose it'd be prudent for the government to pitch to its citizens the same idea wrapped in a different package. Not now, at least.

I am not claiming the collapse of FTX is a government plan but it still has that ability, and they are taking this opportunity very well to enter the market and find ways to control it more tightly. Moreover, this is the perfect opportunity to promote CBDC.

But I will have the opposite opinion of you, CBDC will not have the same problem as FTX. The government will not allow CBDC to collapse or fail like FTX because they know that implementing CBDC is to their maximum benefit. It will take time and difficulty to implement CBDC, but they will not give up.

[Semar Mesem]

Of course this is sad because we hope to see the market rising soon but disturbed by the many scam cases, the latest is FTX which made a big price shock, namely dropping more than 35% in a few days, this is because investors lost around $ 2 to $ 3 billion so that they made investor panic.

[Fesatmas]

The fall of FTX is a blow to them rather than to bitcoin. It's not even appropriate to compare the two because they have distinct and significant differences. FTX is a centralized exchange, and its downfall should have no negative impact on bitcoin if people conduct their own research into the events that led to its downfall. If I'm not mistaken, the fall of FTX was caused by the management team's greed and lust for wealth with other people's money. It's fine if the government uses the FTX fall to preach against bitcoin in general; it's to be expected, and they're always looking for ways to keep people away from it due to its decentralization.

But the fact that cannot be obscured is how the reaction to the fall of FTX has had a direct impact on bitcoin. Yes, this is something that is natural even though the two cannot be equated and have significant differences. But the fact that this caused an overreaction among the users. Panic will always exist if it is related to their crypto assets, anyone and any platform that has something to do with bitcoin will feel the impact. It's really detrimental when one of the greedy parties harms many people and even all users.

[348Judah]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

Then knowing this what profit does it makes for someone to still go after them for an investment without learning from the past events, since we can't predict who or which is next in line to fall, that's crypto for you, there must be a good understanding of the risk involved before going far in it, must we see something very high in risk and yet decided that's what we are going for?

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with

People that are not determined or that easily got moved by public or general opinions are those that will fear and ran towards cbdc or other cryptos when you can actually achieve this privacy with a decentralized digital currency bitcoin on the blockchain technology, if you don't know your right you will abused it.

[Findingnemo]

FYI, KYC is already imposed on every centralized exchange we have but you can't say its completely bad and what you said is right they are company so what they will do is make money with their platform.

Even though situation with KYC is getting worse as we speak, there are still some exchanges that can be used without need for going through KYC. Here is the list. Then again, they may ask for KYC at any point so unless you are willing to provide documents if asked (or ready to lose the money if you decline to do it), they should be avoided as well.

Yes, I know still there are some exchanges doesn't have mandatory KYC requirement to trade via their platform but not many of them sounds trusted enough for me apart from Kucoin but they do revised their withdrawal limit recently and many alleged that they have been forced to submit KYC even if their withdrawal far less from the alloted limit so its already unavoidable in centralised exchanges in my opinion.

[lizarder]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

However, new ones always appear and are introduced more and more, it's really confusing isn't it!!!
Forget about FTX, as not much has changed now and they have created a bad image on the exchange side.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

FTX's relationship is being linked to politics and has led to cases of interrogation of certain parties, for me this is no longer interesting because it has started to be affiliated with terms of interest.
Politicians are always trying to control everything because they are so greedy, KYC is absolutely not needed for decentralization journey, their selfish nature of trying to control crypto in general and tying FTX as a measure of regulation makes absolutely no sense, CBDC is a product of government and nothing interesting there, believe me the nature of state and administration in it is so chaotic.

[Bitstar_coin]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situation that's happening as a planned attack, I am talking about FTX and co.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.
Don't get it confused.

Ftx and crypto may not be the same but they serve as a link between crypto and investors, so in a way, they are connected, and because of that connection that such terrible news can affect the crypto space.
No matter hard you try, you can't ignore that fact, centralized exchange and crypto are linked because exchanges make it possible for people to easily buy crypto so whatever is happening to any of the exchanges will somehow reflect on crypto as well, especially such a popular exchange.

[dothebeats]

The media like to get it mixed in order to instill confusion, panic, and chaos to people around them and also affect people's emotions in order to make the wrong move and further add fuel to the fire. I'm pretty sure a lot of people by now knows that Crypto and FTX are two separate things, but the latter affects the former because it used to facilitate a lot of trades on that platform. Also, another company of SBF, Alameda Research, handles funds to deal with crypto, so in a way, people think FTX downfall = crypto downfall. You can't really change their mind that easily in a single post; the effects on the whole crypto market is very evident.

[BRINIRHA]

The collapse of FTX is indeed a big surprise in the Cryptocurrency industry. And some media and certain people are taking advantage of this situation to make Fud for Cryptocurrency and Bitcoin. Maybe beginners get fooled and panic. because I had a feeling of panic because I am a newbie in this industry. But after I studied deeper. then it turns out that these are completely different things. the fall of FTX simply cannot be used to make a fud for crypto and bitcoin. in fact this has opened our minds that something that is centralized is always a place for people to commit fraud and dishonesty. from here I began to understand the importance of decentralization or not being centralized. and newbies also come to know that Dex is more trustworthy than Cex. and saving in a personal wallet is the right thing. whereas keeping assets in Cex is wrong. But Cex still plays an important role and we still need it in the crypto industry. but the fall of one Cex cannot be made to bring down crypto. because both are different things even in the same industry.

[Anguwa]

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

KYC is done to get full identity of a new user in cryptocurrency exchanges not to use it for anything negative, but in some cases some exchanges are selling the data off for there own selfish interests that's why no kuc exchange should be trusted as anyone can betrays you anytime.
Regarding the FTX not being a crypto, can you explain more? Because to me it is a degital currency just like other Altcoins too, but if you can further explain I will be grateful.

[karabiber]

In every bear season, fraud events come to the fore in the crypto market and negatively affect the perception of the market. It feels really crappy when all the positive things and things like that for crypto's development are destroyed in bear season. I don't think there is anything that can prevent this and people are always scammed regardless of the bear or bull season. As much as possible, prefer the coins that came out when the market first formed. Because they are the first in this business and they have been doing decent work for years. The recent FTX scam has completely changed my perspective on the market. I don't trust anyone in the market and now I think that the only reality is Bitcoin.

[coupable]

In every bear season, fraud events come to the fore in the crypto market and negatively affect the perception of the market. It feels really crappy when all the positive things and things like that for crypto's development are destroyed in bear season. I don't think there is anything that can prevent this and people are always scammed regardless of the bear or bull season. As much as possible, prefer the coins that came out when the market first formed. Because they are the first in this business and they have been doing decent work for years. The recent FTX scam has completely changed my perspective on the market. I don't trust anyone in the market and now I think that the only reality is Bitcoin.

I am surprised that you changed your view of the crypto market only after the recent events and the collapse of global platforms. I see that you are a relatively old member here on the forum, and you certainly followed all the failures that occurred in this market.
The market always enters into a state of stagnation and contraction after major events, especially when they are negative and have a wide impact. On this basis, it is always recommended not to use platforms for storage and to resort to stable currencies to limit the loss due to the collapse of the prices of everything in the market.

[Sanitough]

Both are in the same industry, so what's the difference?

Not because they're in the same industry doesn't automatically mean they're the same. The former is a totally custodial platform, while DeFi platforms are non-custodial.

And with custodial platforms, the operators have its own full control on the platform, but for cryptocurrency which is non-custodial, the people who became the owners of cryptocurrency are given the chance to control their own possessions without having an intervention from other custodial parties. So there’s really a big difference between the two, but only knowledgeable and informed people can sight the difference.

[Taskford]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

Majority of scams used the bear season as the excused for their downfall, they try to convince people that those fall is act of nature because they will just say that people are in panic that's why there value got drop or their platform is out of funds.

But in the case of FTX maybe this is long time planned and SBF is just trying to make an excuse and drama to get sympathy from people about the unfortunate incident happen to them. But I don't believe politicians will destroy crypto since maybe they are just curious and also want their people to take precaution because this is new to them.

[Rengga Jati]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

FYI, actually, scams and FUD always happen to the crypto world, not only during the bearish market. But, the impact may be greater during the bearish market, the market is very not stable and this will make any scam and FUD always crash the market very easily only in a few minutes or hours. This is what always happened to the crypto market so far. the FTX condition is not only the one. We actually have found this incident several times, moreover during the bearish market. And I am not sure that this is the end of the big thing to crash the market. Certain people and parties may be still continuing their target to make something big here, something that will then make the market again crashed significantly and drastically. I don't know what will happen, but, we must be ready of such conditions if happening.

[Lubang Bawah]

I also often think that FTX and the number of scam cases are plans financed by haters, as we know that at this time the enemy of cryptocurrencies is very much, they have large capital support and usually they use the moment when the market is lethargic, this will make many users frustrated and leave cryptocurrencies.

[el kaka22]

I have to say that it is clear for me to end up with CBDC one day, and I know that we do not like them here and saying that I will get some will get me hated for sure but think about it this way please; it will be a stablecoin basically and it will be backed by governments and that means we are going to invest into something that has the backing of USA for example or UK or Germany whatever.

What do we have now? We have USDT backed by tether, or BUSD backed by Binance, is that really better? Bitcoin and stables are different, if you want bitcoin you will get bitcoin there is no difference there, but instead of stables we have now, we will have CBDC and that's better.

[Cookdata]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

Out of all bear market that we have had, this is the worst in my opinion, the previous bear market collapsed has been between retailers, no much drama of institutional investors. They came on board after the last bear market, majority of them profited but their greed and inexperience cost us pain that will be hard to overcome. Just look at the entire market especially the Altcoins, there is no confidence, no interest, and there is still fear among crypto Twitter.

We all have our mistakes to correct especially the ones who hardly can't do without these centralized exchanges that have been using and milking their investment, let us all go decentralized again how it used to be and make crypto (bitcoin preferably) great again.

[kryptqnick]

Firstly, if there is an observable correlation between scams and low prices, it isn't enough to prove that the events are planned. Secondly, this isn't even correct because not all bear seasons start or peak at a scam event. In 2018, for example, it was just FUD about potential negative regulations of Bitcoin in South Korea. Thus year, we do have FTX event, but we've been in a bear market for a year now, so FTX didn't cause the bear market and didn't even make it much worse than it already was. Perhaps you meant only FTX as a planned event, and in that case, I don't have a strong opinion. I don't think the goal was to face criminal investigation and let down the crypto market, though, even if it was a planned scam.
I do agree that FTX is a private company and Bitcoin shouldn't lose reputation because of it.

[Finestream]

The truth is that CBDC is way different from crypto currency and FTX is different too from Bit coin. With this in mind, government only tries to gain massive followers by making CBDC more accepted nationally and tend to make the use of Bit coin as scam practice.
Anyone who takes the time to understudy all there is about crypto will know this and opt for what best suits their options. The use of KYC is just to be able to keep a lid on crypto. To know or have an idea of the users and geographical location.

I can see that the government is also benefiting from this FTX scandal too because people now are getting more afraid of bitcoin and other cryptocurrencies as they can result into scams too like what FTX has ended. And here comes CBDC who claim as the best cryptocurrencies, which I think only bitcoin haters will accept that idea. But for people who have good knowledge in crypto particularly with bitcoin, they will never easily be lured by CBDC as they can never be decentralized.

[Gyfts]

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

CBDC's will be implemented independently of the FTX fiasco. Government realizes they have the perfect opportunity to regulate exchanges/crypto sector using FTX as the scapegoat, when the reality is FTX was a fraudulent organization ran by corrupt leaders. So, expect regulations to come out of this, not a launch of CBDC's.

CBDC's will have the same problem FTX had, in a sense. Central authority and a reliance to trust the holder of your funds. I don't suppose it'd be prudent for the government to pitch to its citizens the same idea wrapped in a different package. Not now, at least.

I am not claiming the collapse of FTX is a government plan but it still has that ability, and they are taking this opportunity very well to enter the market and find ways to control it more tightly. Moreover, this is the perfect opportunity to promote CBDC.

But I will have the opposite opinion of you, CBDC will not have the same problem as FTX. The government will not allow CBDC to collapse or fail like FTX because they know that implementing CBDC is to their maximum benefit. It will take time and difficulty to implement CBDC, but they will not give up.

To be clear I don't consider a collapse to be complete eradication of a CBDC. They will continue to exist, but they will lose their solvency. A government's digital coin is only as good as the stability of that particular government's economic activity. It doesn't take much for an economy to fragment with aggressive fiscal policy and there isn't much incentive for politicians to hold themselves accountable for crashing their country's economy. The ramifications for this misconduct often happen many years after they leave office.

If CBDC's have no purchasing power, it doesn't mean anything for the government to continually generating them. They become worthless.

[teosanru]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

That's true all these things are nothing but just the opportunities for these political leaders and media channels to defame btc. But the problem is that today also if someone starts or wants to start with crypto he/she generally starts in on an exchange like Binance or Coinbase. So, if one of them( FTX) has got shut down in this way taking away savings of millions, politicians are not entirely wrong at their part, I feel we as a community should ensure that scams like the FTX stop happening in our eco system altogether.

[passwordnow]

I also often think that FTX and the number of scam cases are plans financed by haters, as we know that at this time the enemy of cryptocurrencies is very much, they have large capital support and usually they use the moment when the market is lethargic, this will make many users frustrated and leave cryptocurrencies.

I don't think that it's part of their plan, they're just capitalizing those momentums for their own agenda. They're anticipating that there will be some falls again and again and that's where they're initiating their plan like the regulations to protect the people from possible frauds and scams. Well, they're too caring about that but we also know that there are other things that they're pushing aside from it. So, it's not just all about caring but there's a hidden agenda that they're trying to build upon from the trust that people have got for crypto.

[darkangel11]

I suspect that there were banks and agencies involved. Gensler had to know what was going on and the SEC had a brewing lawsuit for not allowing a spot ETF. Now they can keep denying it for a few years straight citing the FTX scam.

Both are in the same industry, so what's the difference?
Find something different than bitcoin, it's more interesting.

Does that mean that if a dentist fucks up your teeth and pulls out the wrong one and a month later you break your leg, you should try to bandage it and go on like nothing happens, because these doctors are in the same industry?

I feel pretty good about bitcoin. To me it's still as interesting as it was 6 years ago. Since I got into bitcoin I saw so many "interesting" altcoins die that maybe being "boring" is a pro.

[Viscore]

In every bear season, fraud events come to the fore in the crypto market and negatively affect the perception of the market. It feels really crappy when all the positive things and things like that for crypto's development are destroyed in bear season. I don't think there is anything that can prevent this and people are always scammed regardless of the bear or bull season. As much as possible, prefer the coins that came out when the market first formed. Because they are the first in this business and they have been doing decent work for years. The recent FTX scam has completely changed my perspective on the market. I don't trust anyone in the market and now I think that the only reality is Bitcoin.

I have always believed in bitcoin only ever since, and find some altcoins even those potential ones still in doubt. Especially with this latest FTX scandal, no need to trust other coins but only bitcoin. Although some coins are even profitable than bitcoin, they even make instant millionaires, but my faith is still in bitcoin. Just thinking how bitcoin survived over a decade, that thing alone is very amazing and valuable.

[Plaguedeath]

FTX is just one of company that offer to trade cryptocurrencies, you need to know there's a lot exchanges out there it's more than 100+ [1].

So FTX bankruptcy doesn't make the whole cryptocurrencies space will die, if you're worried about centralized exchange you can use decentralized exchange. The biggest problem that will make cryptocurrencies die is: Bisq is die and there's no way to use decentralized exchange or Bitcoin is die, but it's almost impossible.

[1] https://coinmarketcap.com/rankings/exchanges/

[Davian144]

I also often think that FTX and the number of scam cases are plans financed by haters, as we know that at this time the enemy of cryptocurrencies is very much, they have large capital support and usually they use the moment when the market is lethargic, this will make many users frustrated and leave cryptocurrencies.

I don't think that scams or the like are paid for by haters or by people who don't like cryptocurrencies. Because if the pay is not commensurate with what they have to do, of course their goals will not be achieved very easily. Because scam is another word for running away a lot of people's money with a profit that is almost difficult to calculate. So I want to know about it by providing further explanation where the haters are trying to pay some people to do a scam in cryptocurrency.

[jostorres]

I also often think that FTX and the number of scam cases are plans financed by haters, as we know that at this time the enemy of cryptocurrencies is very much, they have large capital support and usually they use the moment when the market is lethargic, this will make many users frustrated and leave cryptocurrencies.

I don't think that scams or the like are paid for by haters or by people who don't like cryptocurrencies. Because if the pay is not commensurate with what they have to do, of course their goals will not be achieved very easily. Because scam is another word for running away a lot of people's money with a profit that is almost difficult to calculate. So I want to know about it by providing further explanation where the haters are trying to pay some people to do a scam in cryptocurrency.

And it seems awkward if you are among those who hate crypto but you will still create a crypto business and try hard to grow it big. Aren't those people not tempted on what they currently earn, on why they are still planning to collapse it and go back to zero? I think that's a dumb move. not only that but they can also get jailed or killed with that.

Scammers are different from the haters. Scammers do it because they want easy money; that's it. While haters on the other hand will only spread lies or fuds in the hopes of destroying the reputation of someone else but they hardly succeed with it because the eagerness or the willingness of someone for one thing is still what surfaces the most.

[lionheart78]

It's looks like in every bear season crypto always gets a bad occurrence to be called a scam, this is why I still look at the whole bad situations that's happening as a planned attack, I am talking about FTX and co.

The Politicians will try to ruin crypto and force KYC on every clean and unclean exchanges out there, this is a good opportunity for them to promote CBDC too because of this FTX fraud but I am here to tell you that FTX and Crypto are not the same things, FTX is a private company that did many bad things behind the curtain and Cryptocurrency is the most fascinating technology that humanity has ever emerge with.

Don't get it confused.

I think it is already established that FTX is an exchange and FTT is their token which is considered a cryptocurrency.  A person won't get it mistaken unless is intentionally fed to get wrong information.  Besides, it is already a known fact that the government especially those who are anti-Bitcoin will put blame or relate the incident to the Bitcoin industry whatever fault the centralized cryptocurrency company had done to remove the masses' trust in Bitcoin.

We have already seen similar cases like this and I think people are not that naive, especially those who have enough knowledge on cryptocurrency to believe every anti-Bticoin group statement.

And it seems awkward if you are among those who hate crypto but you will still create a crypto business and try hard to grow it big. Aren't those people not tempted on what they currently earn, on why they are still planning to collapse it and go back to zero? I think that's a dumb move. not only that but they can also get jailed or killed with that.

hate and business are two different things.  People are forced to do what they don't want to do because there is money on the job.  The same goes for business.  Even if they don't like cryptocurrency, the successful businessman is more on the rationality side than emotional so they will create a business that they think will give them huge amount of profit even though they don't like it.  They don't need to oversee it themselves, they can hire competent people to make the business boom.  And getting profit while hating it is way better than just hating it. 

[Casdinyard]

The statement about crypto getting labeled as a scam every bear season is just untrue. Sure there are those who are none the wiser about the ins and outs of trading and investment who may think that it is a scam, but their opinions hardly matter. Now going back, as for crypto I don't think the government would go so far as to actively undermine a flourishing exchange all for the idea that it could burn crypto industry to the ground. We aren't living in post-war eras anymore. Besides, their CEO exceptionally funds politicians to gather their favors so it's a dick move to do that against him yeah? Let's just take this for what it really is. SBF felt invincible and ruined his image to the people. He is stupid and should not be receiving any form of sympayhy from anyone because he did this to himself.