A fact that the general public don't know

[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.