BANKMAN-FRIED PANIC GAMBLES TO REPAY DEBT

[ethereumhunter]

~snip~
People should do this way on where they should really be that mindful on keeping off their coins on any centralized services or platforms.They might be that popular
or known but we arent that blind not to see into those past events or situations on where it does involve these kind of issues like hacking,bankruptcy so called
or whatsoever the reason they would really be calling out which would result on running all the money that someone uses up with that platform.
As for SBF then it isnt really that different into those past owners of exchange platforms the thing here is that he had just been caught.

It's pretty clear now as we have multiple examples over the years.

If you don't have the keys to the coins, they're not your coins, and that's it.

You need to withdraw your coins from whatever company or service you're using to have full 100% self custody of your funds.

You cannot really trust anyone with your coins, the moment it hits their wallet, it's theirs.

Nothing has changed really, and these kind of things will continue to happen because people continue to trust on third parties.

If the third party is trustworthy, people will stick with that third party. But if there are more third parties who deceive these people, they will gradually lose our trust and those people will start to move to find other parties. And it's true that we have to be really responsible with all our investment assets and will not hold them on any exchange. But unfortunately, the exchange already provides comfort and very attractive offers for us so that we can easily use their services. And as long as we can be careful in choosing that third party, we won't have a bad experience.

If SBF had not done this, he would have seen that what he had done could benefit many people so that he would also have benefited. But everything has happened and we must be able to learn from it to be careful in making decisions.

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[stomachgrowls]

remember my btc-e remember trading there, as you said they are a very safe and honest site, that's why when I heard that mtgox had a problem I was really happy at that time I had transferred my money from mtgox to btc-e before there was a closure of their site, right now I'm more interested in keeping my money in my wallet because it's much safer considering the many cases that have happened on exchanges like this FTX, but I still have a little trust in binance and still keep 10% of my funds there to trade

I don't know how many of the users know what happened with BTC-e and MtGox. I was an active user back then and had accounts with both the platforms. Back in 2013, these two were the top Bitcoin/Cryptocurrency exchanges. Both of these platforms had their own dedicated user groups. MtGox was very vocal in enforcing KYC and Mark Karpelès used to showoff his influence. On the other hand, BTC-e never undertook KYC as they valued the anonymity and privacy of their users. The BTC-e owners also refused to reveal themselves.

If you could browse through the posts from 2013, you will find that a lot of users accused BTC-e of being a fraud exchange and were warning users that it will go down sometime soon. But it was MtGox which went down in 2014. BTC-e stayed alive until 2017, when the FBI seized their servers and shut the platform down. And it was the death of BTC-e which eventually allowed criminals such as SBF to come up with their own platforms and loot the users.

Now I can connect the dots. FBI and the banking mafia destroyed proper exchanges and then allowed fraudsters such as SBF to encroach the vacant space left by these exchanges. In the end, the reputation of cryptocurrency is tarnished and FBI achieves its target.

that's why I didn't really like mtgox since then actually I'm not interested in exchanges that require KYC, I think it's stupid and doesn't even guarantee their site is completely secure, most exchange sites are anonymous on the contrary much more secure, to be honest at the moment i don't keep much of my crypto money on exchange sites now its better to keep it in crypto wallets, currently haven't found any exchange like btc-e 

Remembering those btc-e times which i do agree with your words that it would be better if we do have that similar into it, but now as of todays which we are really seeing the opposite one.
Dont know on why there are people who do really likes to store up huge chunks of money on an exchange? Mt.Gox was known as the greatest disaster but people didnt ever
something learn with those things and still ending up on trusting up centralized platforms.

Lets hope not that this would happen on Binance but with those old and new happenings in relation to exchange issues then i wont really be that surprised.

[Mahanton]

If the third party is trustworthy, people will stick with that third party. But if there are more third parties who deceive these people, they will gradually lose our trust and those people will start to move to find other parties. And it's true that we have to be really responsible with all our investment assets and will not hold them on any exchange. But unfortunately, the exchange already provides comfort and very attractive offers for us so that we can easily use their services. And as long as we can be careful in choosing that third party, we won't have a bad experience.

If SBF had not done this, he would have seen that what he had done could benefit many people so that he would also have benefited. But everything has happened and we must be able to learn from it to be careful in making decisions.

We are the ones who do make out on what would be our future and SBF did really make up a decision to messing everythings up because of his greediness.Its true that if he had just well handled out FTX
then he would definitely be making tons of money without needing to have those shady spendings and other issues that he had done recently. This do really shows that a man couldnt really be just that
contented on what he do earns.He is lucky that he had made out a platform which is really next to BInance when it comes to popularity and relevance but all he had just wasted
that opportunity and let it slip away just because on doing such act.

[Sithara007]

Remembering those btc-e times which i do agree with your words that it would be better if we do have that similar into it, but now as of todays which we are really seeing the opposite one.
Dont know on why there are people who do really likes to store up huge chunks of money on an exchange? Mt.Gox was known as the greatest disaster but people didnt ever
something learn with those things and still ending up on trusting up centralized platforms.

Lets hope not that this would happen on Binance but with those old and new happenings in relation to exchange issues then i wont really be that surprised.

After Mt Gox, we had Cryptopia. And after Cryptopia, FTX happened. Then there are dozens more, such as QuadrigaCX, LakeBTC, Celsius, Bitcoinica, CoinBene and Zipmex. I don't want to include exchanges such as NLexch and in this list, as they were closed down by the government authorities.

One thing is common with all these exchanges. The owners were celebrities and there was a feeling among the general public that since these guys are well known, they will not run away with our money. But this was the biggest mistake. Exchanges with anonymous owners, such as BTC-e never cheated their clients, but exchanges such as FTX and Mt Gox vanished with all the funds from ordinary people.

[STT]

lot of users accused BTC-e of being a fraud exchange and were warning users that it will go down sometime soon. But it was MtGox which went down in 2014.

So many people were complaining about MtGox long before I avoided going there as something did appear to be incorrect with its operation.  The price there was different to the price traded elsewhere and its reserves were illiquid with people having problem with withdrawals. Obviously we know for sure now it was fractional and unable to service the demand of deposit holders.  Its only because BTC rose so much from those days that people got their money back I guess.    Pretty sure we had some threads calling out Mtgox like a year before it closed, I wasnt using this forum much then but thankfully it was enough of a warning that I heeded the signs it was going to fail.
   Cryptsy was another exchange that fell, compromised and failed & again some did mention problems with its last days a few tokens only were allowing withdrawals.  That small avenue was enough I got out but some maybe got something years after not sure.

[ethereumhunter]

If the third party is trustworthy, people will stick with that third party. But if there are more third parties who deceive these people, they will gradually lose our trust and those people will start to move to find other parties. And it's true that we have to be really responsible with all our investment assets and will not hold them on any exchange. But unfortunately, the exchange already provides comfort and very attractive offers for us so that we can easily use their services. And as long as we can be careful in choosing that third party, we won't have a bad experience.

If SBF had not done this, he would have seen that what he had done could benefit many people so that he would also have benefited. But everything has happened and we must be able to learn from it to be careful in making decisions.

We are the ones who do make out on what would be our future and SBF did really make up a decision to messing everythings up because of his greediness.Its true that if he had just well handled out FTX
then he would definitely be making tons of money without needing to have those shady spendings and other issues that he had done recently. This do really shows that a man couldnt really be just that
contented on what he do earns.He is lucky that he had made out a platform which is really next to BInance when it comes to popularity and relevance but all he had just wasted
that opportunity and let it slip away just because on doing such act.

If someone has decided to manage his business, he really must be able to maintain the trust of those who depend on him because trust is the most important thing in a business. In this case, SBF has lost the trust of its investors and will not be able to return to the crypto world anymore. Meanwhile, people who have experienced losses must be able to learn from this bitter experience so that they don't experience it again in the future. And we don't know yet what will happen to the investors, the exchange, or anything else.

[Kemarit]

If the third party is trustworthy, people will stick with that third party. But if there are more third parties who deceive these people, they will gradually lose our trust and those people will start to move to find other parties. And it's true that we have to be really responsible with all our investment assets and will not hold them on any exchange. But unfortunately, the exchange already provides comfort and very attractive offers for us so that we can easily use their services. And as long as we can be careful in choosing that third party, we won't have a bad experience.

If SBF had not done this, he would have seen that what he had done could benefit many people so that he would also have benefited. But everything has happened and we must be able to learn from it to be careful in making decisions.

We are the ones who do make out on what would be our future and SBF did really make up a decision to messing everythings up because of his greediness.Its true that if he had just well handled out FTX
then he would definitely be making tons of money without needing to have those shady spendings and other issues that he had done recently. This do really shows that a man couldnt really be just that
contented on what he do earns.He is lucky that he had made out a platform which is really next to BInance when it comes to popularity and relevance but all he had just wasted
that opportunity and let it slip away just because on doing such act.

If someone has decided to manage his business, he really must be able to maintain the trust of those who depend on him because trust is the most important thing in a business. In this case, SBF has lost the trust of its investors and will not be able to return to the crypto world anymore. Meanwhile, people who have experienced losses must be able to learn from this bitter experience so that they don't experience it again in the future. And we don't know yet what will happen to the investors, the exchange, or anything else.

The thing is that we really don't know whether we should trust him in the first place, and for sure majority has regret their decisions to believed SBF in the beginning. But we can't do anything as FTX already collapses, he has a court case and potential for a jail time together with 2 others.

So that is very hard for investors to see in the beginning, trust is subjective, so it's up to us whether we are going to trust another person in crypto.

Or just learn from this mistakes to just used the old and reliable exchanges.

[stomachgrowls]

If the third party is trustworthy, people will stick with that third party. But if there are more third parties who deceive these people, they will gradually lose our trust and those people will start to move to find other parties. And it's true that we have to be really responsible with all our investment assets and will not hold them on any exchange. But unfortunately, the exchange already provides comfort and very attractive offers for us so that we can easily use their services. And as long as we can be careful in choosing that third party, we won't have a bad experience.

If SBF had not done this, he would have seen that what he had done could benefit many people so that he would also have benefited. But everything has happened and we must be able to learn from it to be careful in making decisions.

We are the ones who do make out on what would be our future and SBF did really make up a decision to messing everythings up because of his greediness.Its true that if he had just well handled out FTX
then he would definitely be making tons of money without needing to have those shady spendings and other issues that he had done recently. This do really shows that a man couldnt really be just that
contented on what he do earns.He is lucky that he had made out a platform which is really next to BInance when it comes to popularity and relevance but all he had just wasted
that opportunity and let it slip away just because on doing such act.

If someone has decided to manage his business, he really must be able to maintain the trust of those who depend on him because trust is the most important thing in a business. In this case, SBF has lost the trust of its investors and will not be able to return to the crypto world anymore. Meanwhile, people who have experienced losses must be able to learn from this bitter experience so that they don't experience it again in the future. And we don't know yet what will happen to the investors, the exchange, or anything else.

The thing is that we really don't know whether we should trust him in the first place, and for sure majority has regret their decisions to believed SBF in the beginning. But we can't do anything as FTX already collapses, he has a court case and potential for a jail time together with 2 others.

So that is very hard for investors to see in the beginning, trust is subjective, so it's up to us whether we are going to trust another person in crypto.

Or just learn from this mistakes to just used the old and reliable exchanges.

Whether we do like it or not which these things would be buried and would be forgotten and on the time that everything do looks everything back to normal then people would be usually be ending up on trusting too

much with these platforms again and the worst where some people do make it as their main wallet which it would be a disastrous thing if ever the platform your would be using would really be having issues.

People never ever learn and still continuing on things which arent really supposed to be done.This is why its ideal that you should pull off your funds on the time that you had finished out
on making trades on a certain platform.Never ever consider on parking it there or let it sit for long time.

[ethereumhunter]

If the third party is trustworthy, people will stick with that third party. But if there are more third parties who deceive these people, they will gradually lose our trust and those people will start to move to find other parties. And it's true that we have to be really responsible with all our investment assets and will not hold them on any exchange. But unfortunately, the exchange already provides comfort and very attractive offers for us so that we can easily use their services. And as long as we can be careful in choosing that third party, we won't have a bad experience.

If SBF had not done this, he would have seen that what he had done could benefit many people so that he would also have benefited. But everything has happened and we must be able to learn from it to be careful in making decisions.

We are the ones who do make out on what would be our future and SBF did really make up a decision to messing everythings up because of his greediness.Its true that if he had just well handled out FTX
then he would definitely be making tons of money without needing to have those shady spendings and other issues that he had done recently. This do really shows that a man couldnt really be just that
contented on what he do earns.He is lucky that he had made out a platform which is really next to BInance when it comes to popularity and relevance but all he had just wasted
that opportunity and let it slip away just because on doing such act.

If someone has decided to manage his business, he really must be able to maintain the trust of those who depend on him because trust is the most important thing in a business. In this case, SBF has lost the trust of its investors and will not be able to return to the crypto world anymore. Meanwhile, people who have experienced losses must be able to learn from this bitter experience so that they don't experience it again in the future. And we don't know yet what will happen to the investors, the exchange, or anything else.

The thing is that we really don't know whether we should trust him in the first place, and for sure majority has regret their decisions to believed SBF in the beginning. But we can't do anything as FTX already collapses, he has a court case and potential for a jail time together with 2 others.

So that is very hard for investors to see in the beginning, trust is subjective, so it's up to us whether we are going to trust another person in crypto.

Or just learn from this mistakes to just used the old and reliable exchanges.

With this incident, we have to be more careful choosing new exchanges that we don't know or haven't found more information about because this concerns the money we will use to trade or invest. This FTX case is a lesson for everyone, not just the victims of the FTX case, so we only use the money we can afford to trade and store coins on the exchange.

In the future, we may see cases like this, and this experience helps us not to act rashly. Better we use an existing casino where we can trade and have no problem.

[nullama]

~snip~
The thing is that we really don't know whether we should trust him in the first place, and for sure majority has regret their decisions to believed SBF in the beginning. But we can't do anything as FTX already collapses, he has a court case and potential for a jail time together with 2 others.

So that is very hard for investors to see in the beginning, trust is subjective, so it's up to us whether we are going to trust another person in crypto.

Or just learn from this mistakes to just used the old and reliable exchanges.

There shouldn't really be any need to trust anyone with Bitcoin really. That's the whole point of it.

Not sure why so many people are just sending their coins to companies and trusting them. In the end many people will lose a lot of money because of these companies.

History keeps repeating itself, and people don't seem to learn, ever. The same will continue to happen in the future.

[swogerino]

~snip~
The thing is that we really don't know whether we should trust him in the first place, and for sure majority has regret their decisions to believed SBF in the beginning. But we can't do anything as FTX already collapses, he has a court case and potential for a jail time together with 2 others.

So that is very hard for investors to see in the beginning, trust is subjective, so it's up to us whether we are going to trust another person in crypto.

Or just learn from this mistakes to just used the old and reliable exchanges.

There shouldn't really be any need to trust anyone with Bitcoin really. That's the whole point of it.

Not sure why so many people are just sending their coins to companies and trusting them. In the end many people will lose a lot of money because of these companies.

History keeps repeating itself, and people don't seem to learn, ever. The same will continue to happen in the future.

I think that we are doing our part in the forum,I know the members who keep writing in Service Discussion part of the forum who post there usually are warning systematically to withdraw money from exchanges or third parties exactly for this reason,in Bitcoin you only trust yourself and you are your own bank who keep also the private keys to such bank and no one else can use them.

This I think will not stop history from repeating itself as there will still be persons sending their money to exchanges but I am sure the percentage of such people will diminish with the passing of time.

[molsewid]

With this incident, we have to be more careful choosing new exchanges that we don't know or haven't found more information about because this concerns the money we will use to trade or invest. This FTX case is a lesson for everyone, not just the victims of the FTX case, so we only use the money we can afford to trade and store coins on the exchange.

In the future, we may see cases like this, and this experience helps us not to act rashly. Better we use an existing casino where we can trade and have no problem.

One thing that I learn from this thread, we should not think that betting in gambling will save our company, firms, exchanges from winning in the casino, it will only give us a huge mess. I'm not saying that all people will not have money by playing nor all people will be lose in gambling what I am saying is there's no assurance that we can get more in gambling, that it will give us jackpot because most of the time we will not there will be a time we can win jackpot, we should think of other reason to save our bus, we should play only for our entertainment and happiness.

[Lanatsa]

With this incident, we have to be more careful choosing new exchanges that we don't know or haven't found more information about because this concerns the money we will use to trade or invest. This FTX case is a lesson for everyone, not just the victims of the FTX case, so we only use the money we can afford to trade and store coins on the exchange.

In the future, we may see cases like this, and this experience helps us not to act rashly. Better we use an existing casino where we can trade and have no problem.

One thing that I learn from this thread, we should not think that betting in gambling will save our company, firms, exchanges from winning in the casino, it will only give us a huge mess. I'm not saying that all people will not have money by playing nor all people will be lose in gambling what I am saying is there's no assurance that we can get more in gambling, that it will give us jackpot because most of the time we will not there will be a time we can win jackpot, we should think of other reason to save our bus, we should play only for our entertainment and happiness.

Gambling has never been an option but there are dumb people or company owners whom do consider out this kind of option which is totally that a crazy thing for someone to choose on.Its not that ethical on using

up your company funds which it isnt really totally owned by you but the people who had been using up and trusting your company.If you are really that in minding about recovery of your company
then gambling should really be out of the options because it is something that could do more harm than good.

As for SBF engaging on gambling to repay debt is something that a story i cant buy nor believe on.