Have you taken lessons?

[Tony116]

This year made crypto investors  realise that they need to be more cautious on the type of CEX  they use and what type of coin they are investing on

Ppl never realise mistakes here. We had one more major CEX collapse (mt. gox) in early 2014. Did ppl stop using cexes since then? You can figure it out yourself.
We had major coin collapse (bitconnect) in early 2018, where its value fell to almost worthless sht but did ppl stop investing in sh*tcoins since then? Ppl still are taking risks. They never learnt and never will. The cycle will continue, thats why many OGs too call the markets crazy and we cant change it. Be ready, there will be another bubble in the next bull market preparing to get burst later, lol.

They have learned their lesson, but their greed is so great that they will quickly be overshadowed by their previous losses by profits. And for some people, they will have no choice, if you make a profit by day trading, then you will have no choice but to continue using CEX. Currently, there is no DEX that can provide the same features as CEX, we have no choice.
For altcoins, not all of them are shitcoins, and not everyone loses, there are still a lot of people making profits from altcoins.

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[bakasabo]

The examples OP showed indicate, that Bitcoin is one and only cryptocurrency that meant to be owned, and it must be stored only on a personal wallet. Fully agree, but those lessons also show that sometimes it is worth taking a risk, as huge and reputed altcoins have a lifespan of 1 year minimum. Think what can be achieved during a year, taking into consideration that altcoin prices easily grow multiple times. My conclusion - everything must be balanced, but minor risk is acceptable.

[Getmon]

There were many bad things that happened this year, but we can learn from them. CEX misfortunes have been going on prior to FTX fall however, most traders continue to trade on CEX. When compared to DEX, CEX features are still too advanced. Even if they intend to hold it for a long time, there are also individuals who hold bitcoin in CEX.

Only a few altcoins have real potential out of the thousands in the market, but they are all risky in comparison to bitcoin.

[Cantsay]

To be honest, I'm not sure if all of this nonsense has anything to do with Bitcoin. All I can think of is that they have only given Anti-Bitcoiners the opportunity to spread FUD about Bitcoin, forcing hodlers to sell their coins and also changing the minds of those who are new to Bitcoin and may be potential investors.

This year made crypto investors  realise that they need to be more cautious on the type of CEX  they use and what type of coin they are investing on

If not for the fact that we still need to depend on cex due to certain features that dex can't offer I doubt if anyone will still be willing to use cex after all these fiascos. But never the less don't forget to treat cex as an exchange rather than a wallet no matter how safe you think the exchange is.

[traderethereum]

I don't need to feel anger for what happened this time of year because I am not a victim of all those bad things.
But even so, I feel the loss as a result of the downturn that occurred in the market and still trying to survive this situation.
The lesson to be learned from all these bad events is that we must be very careful spending money to invest in crypto and only choose projects with strong support and not just the projects.
Maybe you will be confused about the project but if you can find more info, you will find it.
And maybe to avoid losses in investing in new projects, you can invest in bitcoins only.

[Lucius]

To be honest, I'm not sure if all of this nonsense has anything to do with Bitcoin. All I can think of is that they have only given Anti-Bitcoiners the opportunity to spread FUD about Bitcoin, forcing hodlers to sell their coins and also changing the minds of those who are new to Bitcoin and may be potential investors.

Everything has to do with Bitcoin, especially the Korean scammer's stablecoin which was supposed to be backed with Bitcoin and when things started going downhill Kwon started selling large amounts of BTC and thus brought down the price by some $10k. The panic that arose then caused a lot of damage, and we still feel it today, along with everything that followed after that. If you compare the Kwon disaster with FTX, then this first one is maybe even five times bigger in financial terms, because estimates go from $80 billion upwards.

If not for the fact that we still need to depend on cex due to certain features that dex can't offer I doubt if anyone will still be willing to use cex after all these fiascos. But never the less don't forget to treat cex as an exchange rather than a wallet no matter how safe you think the exchange is.

Only one thing in life must be done and it is common to all - we have to die at some point. CEXs have unfortunately turned out to be a necessary evil, but will continue to be just that given that most people do not know about the alternative, and that they will always choose the line of easiest resistance regardless of the risk.

A lot of water will still flow under the bridges of the world's rivers until people learn their lesson, and maybe some rivers will dry up before then.

[dimonstration]

Are you new in crypto? There is a lot of scam happening on crypto since Bitcoin started especially on ICO, Casino, Ponzi, Hyip and other bullshit scheme that happening in the sideline. Due to the anonymous nature of crypto, many scammer can freely scam without being notice.

All the event that you posted are those company that scam but protected by the law that’s why they manage to file bankruptcy form. But real scams is happening every seconds since the introduction of crypto. So asking if we learned lesson on this current shit show is useless since real crypto OG is already immune on this event.

[kizlod]

I don't feel any rage. And this year taught me to focus more on Bitcoin and not to make any predictions. Everything can go drastically wrong because of random or not so random, but unknown reasons.

[coupable]

How about this news? I think we can learn a lesson or two: U.S. Treasury Sanctions Notorious Virtual Currency Mixer Tornado Cash and the developer is arrested.

So anyone can be put into jail, specially this kind of mixers. We all know that majority of privacy coins has been delisted, so maybe next year we will hear such services again at the helm of US government.

Until recently, the owners of the mixrs could not be tracked or held accountable, especially since they work anonymously and do not need work permits or licenses.  This is what makes the tracking process difficult if we take into account that in cases of turning into an exit scam, users do not complain to the authorities, and even if they wanted to, they do not know which party to complain to.  
The lesson that we learn as users is not to trust mixer platforms, especially those that are newly launched (there are many of them in the market now) and to use platforms that have proven their reliability over the years (unfortunately, there are very few of them actually).

[Jatiluhung]

the lessons I learned include not keeping my investment assets on the stock exchange. keeping it in a private wallet is safer. because full control is in our hands. before the FTX bankruptcy occurred, I still often kept some of my long-term investment assets on the stock exchange. and stake it only to get a meager profit per year. But now I no longer do that. because I'm afraid that what happened to the FTX exchange could happen to the exchange where I usually buy and store my crypto assets.

[Yatsan]

I don't feel any rage. And this year taught me to focus more on Bitcoin and not to make any predictions. Everything can go drastically wrong because of random or not so random, but unknown reasons.

Not to make any prediction is far different from being patient with the market behavior. Indeed the market is volatile in nature but to let things slide would be different. Making assumptions still is better because it would llow an investor to gauge situations; the current market behavior is still profitable if you'd be able to know when will the market price fall and rise through futures trading and scalping. Not unless you're into long term holding, speculating the market will be always needed.

the lessons I learned include not keeping my investment assets on the stock exchange. keeping it in a private wallet is safer. because full control is in our hands. before the FTX bankruptcy occurred, I still often kept some of my long-term investment assets on the stock exchange. and stake it only to get a meager profit per year. But now I no longer do that. because I'm afraid that what happened to the FTX exchange could happen to the exchange where I usually buy and store my crypto assets.

Well, this is just the least you could do as an investor which is to be more responsible of your assets. Always be aware of the possible worse case scenario to avoid unexpected things and negative market behaviors which could yield to profit loss or damage to your assets. This simply includes the way you store your capital.

[Lida93]

In all the events that took place in this year 2022 on accounts of the loses experienced by many centralized exchange customers I didn't fall victim of any. And in all these events that unfold this year it cemented my decision of not trusting centralized  exchange with my assets. I am currently doing my best to avoid shit coins as we enter year 2023 even though some persons consider shit coins to be a quick means of hitting high profit margin, it's also in same way it could quick trash your asset to nothing too.

Another mistake some persons make is storing their assets in centralized exchange when they can safely do that with a non-custodial wallet for their own good, perhaps they are scared of responsibility.

[panganib999]

Let me just correct you on one thing, the collapse of FTX is not caused by CZ as you imply it is, and FTX isn't doomed by the liquidation of its customers, but by the mismanagement of the people behind this sham of an exchange. Imagine mismanaging funds as big as $2 billion and calling it an "accounting error you overlooked" (non-verbatim), as well as injecting funds to your sister company, funds that the people themselves entrusted to you.

The same thing can be said with Luna. Luna is completely aware of their activities and are conscious of its consequences.

Don't paint these people as if they are "honest people who made stupid mistakes". It's billions of dollars on the line, no one would buy that narrative here.

All in all, I get your point, we must all be more wise when it comes to investing our own money. But in the defense of the people who trusted these guys with their hard-earned money, these people were so good at their act they had us all believe that they were really good guys, FTX especially.

So along with learning a lesson and becoming more investigative of your new venture, perhaps include "being more forgiving of personal fails" too, because on god I've seen a lot of people go so harsh on themselves after all this shenanigan.

[milewilda]

So, have you expressed your rage for 2022, and what have you learned from all of this in 2022?

Expect the unexpected
Dont risk on the money you cant afford to lose
Not your keys, not your funds/money
Dont let yourself drag with some Hype or Fuds

If you do have these then these moments cant really make you budged on your investment goals or targets.
Yes it might be sounding simple but its hard to be done since we are just humans which are really that emotional and its impossible
that we wont really be feeling off some fear and hesitance.

[Furious 7]

This year so many disasters have happened apart from the bitcoin crash that so many people feel this is the wrong state of affairs.
But on the other hand, there is actually no need to blame this and the lessons that can be taken are of course quite a lot like having to be more careful when in crypto because looking at some of the cases you mentioned, no matter how strong the platform or exchange, an incident like this can always happen it just happened and as for the bitcoin context, buying is something that must still be done, not selling in the midst of unfavorable conditions.

[Merit.s]

It was really a big lost for the crypto market this year,this is the problem of exchanges because they are centralized, they link up to one another and depend on each other,they will declare their assets to give you confidence in them but that is a big lie,they just declared the assets of two or three exchanges including their's which makes it scam. This why you see that if one of the big exchange crashes, it will affect some exchanges that are in business with the big exchange. FTX crash and it affected Block.fi due to their investment in FTX. Thank God with all these challenges btc stood and conquered, just only the price went so dip.

[BitcoinPanther]

I learned that no centralized services should be fully trusted.  If we wanted to invest, invest on Bitcoin, buy it and never keep it on exchanges.  Investing on centralized services and give 100% trust on them is another way of wasting money because sooner or later this centralized services will file bankruptcy.

[n0ne]

I learned that no centralized services should be fully trusted.  If we wanted to invest, invest on Bitcoin, buy it and never keep it on exchanges.  Investing on centralized services and give 100% trust on them is another way of wasting money because sooner or later this centralized services will file bankruptcy.

Centralised services will be prioritising fame and money than anything else. For this reason when we use an exchange we should know the limitations as well as try the maximum to keep our funds on custodial wallets than holding it on Exchanges. Because, we don't know what happens next. In no time things change completely and lost is lost.

[suzanne5223]

6. FTX Group & Alameda Research
Declared bankrupt on November 11th, destroyed after massive liquidation by its customers, this was triggered by CZ selling all Native FTT tokens, because these tokens were used as collateral or debt guarantees to borrow money by Alameda Research.

I don't think CZ sold all his FTT tokens because it provided an official letter he wrote to all the Binance workers about keeping their FTT bags. Although, the CZ tweet may trigger the massive liquidation of the FTT token. However, the major cause of it and the bankruptcy of FTX are SBF the mastermind, and Caroline which expose the situation at the wrong time.

I learned that no centralized services should be fully trusted.  If we wanted to invest, invest on Bitcoin, buy it and never keep it on exchanges.  Investing on centralized services and give 100% trust on them is another way of wasting money because sooner or later this centralized services will file bankruptcy.

Even if the situation that happened this year didn't happen. It's a childish idea to entrust one's investment to a stranger we only see as an influencer online and it is always good to entrust our investment to ourselves because no one knows us more than ourselves.

[goldkingcoiner]

I think these scammers do ultimately serve a noble goal.

Even if they do not realize it, they are teaching people the importance of not giving your Bitcoin away to third party holders, especially centralized ones. The lessons learned are quite expensive. They cost you everything. But in the end, you will learn to never let your Bitcoin out of your own wallet and you will learn to not give your wallet access to someone else. Each of these scams has one thing in common: The coins were not in the wallets of the people to whom they belong. They were in the hands of someone else.

But nobody should feel ashamed for having to learn these lessons the hard and expensive way. It is part of the journey to becoming a hodler.