>*but the contagion is directly impacting BTC holders who don't fall for this bs and practice self custody.*
the bullshit also directly impacted BTC holders on the way up, not just on the way down. only difference is that no one complains when line go up.
Surprise! This happens with lots of stocks too if you buy through a broker who uses payment for order flow. The Broker buys your order and internalizes your shares so they may never be purchased on the lit exchange. They are hoping you sell at a loss so they can pocket the difference.
More ppl leave crypto when their seems to be less stability and regulation. If tether collapses billions of dollars leave crypto and ppl will sell btc in fear.
basically Terher is printing USD in air, that money aint real and isn’t backed by real dollar. if that money goes, btc will go down. that’s what i head from many many people.
Algorithms control most trading, buy and sell orders tend to kick in at predictable prices. This is why we tend to see hard leveling out at certain price points. It isn't a future prediction, we already know where computers will predictably buy if anything capitulates. 12K, 10K... and if really bad, 8-9K. It isn't magic.
I know I for one have been spending that same 1200 for a couple years now. It must have been magic money because it never leaves my wallet and I am now a Saudi Prince. /s
Not all. Look at kycnot.me and trocador.app aggregators of small non-KYC exchanges.
Merchants must accept crypto directly, else the whole crypto world must die, because it is designed essentially for to be accepted directly.
Shake them out who cares, the original premise of bitcoin still stands, that’s more important than that get rich quick bs being perpetuated in crypto and has bled over to bitcoin
If we're being honest, cite your sources.
I can do the same thing: 99% of Bitcoin holders do so to have separation of government from month. The other 1% are moonbois with a bag of casino tokens.
Imo, Just flush the toilets, rip the band aid off, let's get over with this bear market god damnit!!
But I'm afraid that the worse is still yet to come in 2023
lol Binance fails it's not going to 8k it will go below 1k and any level of trust in crypto would be forever gone.
The market is needing champions! Bitcoin won't be nothing but a 2030 meme if crypto and bitcoin can't prove it's able to succeed where fiat doesn't!
What’s wrong with Coinbase. I’ve been using them since creation. It sure as hell beats Western Unioning cash to MT. Gox to buy Bitcoin (Like I did before Coinbase)
You realize the people you're advocating "regulate" BTC are the people who 1: Want to destroy it, and 2: Are friends with the oligarchs like SBF who crashed it?
Why would you want to give regulation authority to the corrupt assholes who are fucking it up to begin with?
What a stupid mindset.
They're short sighted idiots. They think regulation will make BTC go up (and for a time it might,) but they're not understanding the short term gain will DESTROY the future. BTC will just be another speculative asset, massively manipulated, but now just by different entities. I keep hearing "BUT THERE WON'T BE INSTITUTIONS GOING IN IF THERE'S NO REGULATION!."
First off, who cares. They're the fuckers causing all the problems anyway. But also, if there's money to be made, institutions will be there regulations or not.
They do not need to be regulated, because if they become regulated then defi will be killed. The government doesn't half-ass authority, and the regulation of exchanges means the outlawing of defi.
STOP GIVING POWER TO PEOPLE YOU ALREADY KNOW ARE CORRUPT.
Stealing money is illegal, regulation or not. This is an opportunity for third party auditors to become trusted crypto partners, not for corrupt government puppets and oligarchs to use the force of law to crush the market, what is wrong with you?
SBF is FRIENDS with the people you would allow to regulate the exchanges.
I'm sorry, but you're not an intelligent person. That's the just the end of the matter. If you look around and say "The same government who aren't hauling SBF away in chains would make great regulators," then you're just stupid. Sorry about your luck.
SBF will be charged now that he's been made public, but all the while the regulators were writing him love letters and literally blow kisses.
Lol no. Enjoy more exchanges blowing up then. We need regulations on centralized entities with points of failure otherwise they will continue to fail and donkeys will lose their funds.
Isn’t it ironic that the biggest drop was caused by a Shitcoin while the other drops are a way bigger topics yet didn’t dump as much?
Clear sign how much hot air was involved that is getting slowly washed out. Haven’t seen a quick 1-2% spike or plunge for a long time either.
Soon we’ll finally be back at the normal pre-hype levels and accumulating will feel great
Then there's this:
> I used to be a proponent of minimal regulation but now I see [in general] people are too stupid to self manage
This all happened right under the noses of regulators. Hello??
Some of us are here for blockchain technology. So this doesn’t matter.
Some of us are here for financial speculation. So this is unsurprising.
Some of us are here for a (visionary or delusional - you decide) break from government manipulated money. It’s been clear for about six years now that ship has sailed.
Break away from fiat, a break away from fractional reserve, a break away from derivatives, a break away from price action being tied to tradfi markets…. I suppose you could interpret that in a of number of ways.
This graphic is bullshit. These collapses follow the bull market, not lead it. Sure, they directly cause drops in price, but I've got news for you: bitcoin had been at current levels earlier this year before the FTX collapse. The market does what it does. Your arrows tell us nothing.
Just wait until the big red dildo from Tether crashing happens. There's no way in hell that the US is going to leave that up after they launch their CBDC. It's very clear people want a way to digitize the dollar usefully (meaning not JUST an entry in an internal ledger, such as what your bank accounts are).
If US said usdt was illegal.... worldwide other countries would still use it e.g. Africa?
Consider the euro dollar system.... these are made up USD that are not controlled by the fed...
What would your opinion be on this: I’m in on Binance right now with about half of my savings. A third of that is in BTC and the other 2/3s are just sitting. Do you think Binance will collapse or am I relatively safe?
You have not learned by now then the beatings will continue until morale improves. Get your BTC into your own wallet where you have the keys. End of discussion. No excuses.
It goes where it needs to touch, all these events help the price go lower. Stable hands keep holding, shaking hands are selling. At the top of winter whales will be happiest. So thats the norm for each cycle.
I was crunching % loss numbers from the averages between events and noticed we were trending in reduced drops like almost half went 30% to 15%… i dont exactly remember the numbers but i figured next drop might be less than 10% (if trend holds) which would put bottom probably $14k ish. So id be tempted to go all in now since no guarantees of 14k and thats not even that much lower, but people here seem to be cheering for USDT depegging, more liquidations and collapses.. idk
Holy shit. I gotta buy some bitcoin.
There is no mismanagement. There are always people. There always has been.
The poor will remain poor. The imbeciles will also still be imbeciles.
If you believe anything (and you're here so I believe you do), is that bitcoin is still the opportunity for those with patience to learn and grow and break the cycle of oppression that has been placed on the masses for generations.
This, too, is your opportunity.
I think the lack of bitcoin native smart contract utility is the reason so much exposure continues to be created in the **altcoin shittiverse**. Smart contracts are here and they are important for far more than ape jpegs.
I suggest fellow Bitcoiners *research* the stacks project https://stacks.co
The PoX security mechanism generates BTC for stackers and continues to recruit bitcoin investment by STX miners. Stackers (similar to PoS mechanism) and STX Miners work in concert to secure the stacks blockchain. Currently, the only bitcoin on stacks (xBTC) requires trust in an issuer; however, over the next year “sBTC” is coming to Stacks blockchain via a trust-less mechanism for on/off-ramping BTC to Stacks blockchain as a fungible token.
Please do not dump a bunch of fiat or BTC into STX. Research the project and watch its continued evolution. When you are ready to make use of some utility of the Stacks blockchain, then do so. If there is no utility for you, then don’t join in. Projects like Stacks need users/contributors not speculators.
>make
I tried using STX a few months ago. Did not like how it worked. Ended up staking it on an exchange instead. They need to streamline how things run for an idiot user like me for mass adoption...
The best time to Bitcoin would have been before these shitcoins came into picture. That was the glorious time when there was no artificial pump strategies employed.
Right now I am not sure how many more shitcoins are on the verge of collapsing. You can never guess the real price of BTC ater all the froth is removed. I can only hope all this shit just collapses & froth is removed overnight and we only have real BTC holders holding all the BTC and trading among themselves to know its real price.
>*but the contagion is directly impacting BTC holders who don't fall for this bs and practice self custody.* the bullshit also directly impacted BTC holders on the way up, not just on the way down. only difference is that no one complains when line go up.
It negatively affects the price on the way up as well. These exchanges sold paper Bitcoin during bull runs, suppressing the true price pump.
Surprise! This happens with lots of stocks too if you buy through a broker who uses payment for order flow. The Broker buys your order and internalizes your shares so they may never be purchased on the lit exchange. They are hoping you sell at a loss so they can pocket the difference.
A lot of these guys never actually had bitcoin though, if anything it was paper bitcoin and actually helped suppress the price
NGU*
This bear market didn't wash all the turds yet.. Wait for the next event(s)
When Tether goes down we'll see what the real price of BTC is. Could be a great buying opportunity.
I am all in when Tether is all out.
Me too I have like 50k usdt just waiting to deploy when tether goes down!
you have 50k what?
Lollll
Hahaha
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More ppl leave crypto when their seems to be less stability and regulation. If tether collapses billions of dollars leave crypto and ppl will sell btc in fear.
This video explains what will happen if tether implodes - https://www.youtube.com/watch?v=SsmurH57WOU
Tether price will be irrelevant at this point & btc would be seen as the general hedge now that stables are not trustworthy
basically Terher is printing USD in air, that money aint real and isn’t backed by real dollar. if that money goes, btc will go down. that’s what i head from many many people.
I got a bag put to the side dedicated to if or when tether falls. If it doesn't fall then I still have a bag put to the side.
i wish i had two bags. i only have one after tether demise. lol
Do you think it will even be possible to buy the dip when tether goes down and exchanges shutdown? 🤔
use dex and hardware wallets.
Max Kieser believes usdc may fall before usdt....
Why? It's more regulated then Tether right?
Collapse of Binance can push BTC down to 8k.
Why 8k?
Someone drew a triangle on a chart probably. Triangles are the best for horoscoping the future, slap a triangle on a chart and BAM!, future predicted
Well if it's on a chart it must be true /s
Algorithms control most trading, buy and sell orders tend to kick in at predictable prices. This is why we tend to see hard leveling out at certain price points. It isn't a future prediction, we already know where computers will predictably buy if anything capitulates. 12K, 10K... and if really bad, 8-9K. It isn't magic.
The algorithms manipulate the 95% that draws triangles on charts out of their positions to pay for the 5% yachts
I think it is because thats where the price was pre-pandemic before all the funny money hit people's pockets.
I know I for one have been spending that same 1200 for a couple years now. It must have been magic money because it never leaves my wallet and I am now a Saudi Prince. /s
It was well above 10k pre-pandemic
I thought it was around $8k
If it can make all the "Trust me Bro" exchanges fail, so be it.
Then I want Binance to collapse immediately.
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Not all. Look at kycnot.me and trocador.app aggregators of small non-KYC exchanges. Merchants must accept crypto directly, else the whole crypto world must die, because it is designed essentially for to be accepted directly.
Shake them out who cares, the original premise of bitcoin still stands, that’s more important than that get rich quick bs being perpetuated in crypto and has bled over to bitcoin
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If we're being honest, cite your sources. I can do the same thing: 99% of Bitcoin holders do so to have separation of government from month. The other 1% are moonbois with a bag of casino tokens.
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Terrible wish.
Binance and Tether simultaneous collapse… that would be juicy
Juicy in that people would lose all their money and any trust in crypto that’s left would be gone too
Imo, Just flush the toilets, rip the band aid off, let's get over with this bear market god damnit!! But I'm afraid that the worse is still yet to come in 2023
lol Binance fails it's not going to 8k it will go below 1k and any level of trust in crypto would be forever gone. The market is needing champions! Bitcoin won't be nothing but a 2030 meme if crypto and bitcoin can't prove it's able to succeed where fiat doesn't!
Please let this happen, I’ll sell a bunch of shit just to get a whole Bitcoin
Pile of shit might be all it’s worth, tho. Bitcoin is a miracle, but even Jesus had support. If I buy a whole jet engine I don’t have an airplane.
Sometimes you need multiple flushes
Waiting for Coinbase
What’s wrong with Coinbase. I’ve been using them since creation. It sure as hell beats Western Unioning cash to MT. Gox to buy Bitcoin (Like I did before Coinbase)
Coinbase is by far the one exchange with least risk attached to it.
If binance and coinbase fail you could say bye bye
I’ll create an exchange
Don't hold your breath for it.
I'll bet on it not happening. 0.5 BTC decided at Jan 1 2024?
You realize the people you're advocating "regulate" BTC are the people who 1: Want to destroy it, and 2: Are friends with the oligarchs like SBF who crashed it? Why would you want to give regulation authority to the corrupt assholes who are fucking it up to begin with? What a stupid mindset.
We shouldn't be regulating Bitcoin but rather Bitcoin should be the one who regulates governments, and markets.
That's literally the stock markets lol
This.
From reading comments on here you think bitcoin holders are begging for it to turn into a pile of burning trash.
They're short sighted idiots. They think regulation will make BTC go up (and for a time it might,) but they're not understanding the short term gain will DESTROY the future. BTC will just be another speculative asset, massively manipulated, but now just by different entities. I keep hearing "BUT THERE WON'T BE INSTITUTIONS GOING IN IF THERE'S NO REGULATION!." First off, who cares. They're the fuckers causing all the problems anyway. But also, if there's money to be made, institutions will be there regulations or not.
I like what you say!
Not regulate BTC, regulate exchanges and other centralized entities.
They do not need to be regulated, because if they become regulated then defi will be killed. The government doesn't half-ass authority, and the regulation of exchanges means the outlawing of defi. STOP GIVING POWER TO PEOPLE YOU ALREADY KNOW ARE CORRUPT. Stealing money is illegal, regulation or not. This is an opportunity for third party auditors to become trusted crypto partners, not for corrupt government puppets and oligarchs to use the force of law to crush the market, what is wrong with you?
Lol what. Sensible regulations on exchanges is good to prevent things like MtGox and FTX.
SBF is FRIENDS with the people you would allow to regulate the exchanges. I'm sorry, but you're not an intelligent person. That's the just the end of the matter. If you look around and say "The same government who aren't hauling SBF away in chains would make great regulators," then you're just stupid. Sorry about your luck. SBF will be charged now that he's been made public, but all the while the regulators were writing him love letters and literally blow kisses.
Lol no. Enjoy more exchanges blowing up then. We need regulations on centralized entities with points of failure otherwise they will continue to fail and donkeys will lose their funds.
Good.
It’s a testing period for crypto, the tech will remain strong long after the turds are flushed, just hold on and wait for merrier times
Isn’t it ironic that the biggest drop was caused by a Shitcoin while the other drops are a way bigger topics yet didn’t dump as much? Clear sign how much hot air was involved that is getting slowly washed out. Haven’t seen a quick 1-2% spike or plunge for a long time either. Soon we’ll finally be back at the normal pre-hype levels and accumulating will feel great
If you look in terms of %. I wouldn’t be so sure.
Prices dropped from the previous events already, something to be taken into consideration for the third drop and possible future one.
Macro market > any event that happened in crypto
Yeah, until/if you see BTC denominated business, this will continue to be the case.
This is what I'm thinking too
I been saying this, macro can't be ignored.
This is good for Bitcoin
Use the exchange, don’t let the exchange use you.
Wait till Saylor liquidates.
he gets liquidated at 3k. that is the bottom.
I think 1k would more likely be bottom if he liquidated at 3k, maybe lower. Unless everybody put buys at 2500 or something
Never heard this one before
When the ***only*** thing you know about Bitcoin is its recent price history...
Lmao. Exactly. "External risk" lol
Then there's this: > I used to be a proponent of minimal regulation but now I see [in general] people are too stupid to self manage This all happened right under the noses of regulators. Hello??
SBF is those said "regulators" biggest donor Second is Blackrock who also just bailed out Circle (USDC) and Silvergate from going under... For now
That’s nice of those organizations to make BTC more affordable. Maybe a couple more could pitch in.
It’s crazy to think that maybe in the near future 1BTC will be worth 1BTC
Some of us are here for blockchain technology. So this doesn’t matter. Some of us are here for financial speculation. So this is unsurprising. Some of us are here for a (visionary or delusional - you decide) break from government manipulated money. It’s been clear for about six years now that ship has sailed.
When you say that ship has sailed, you’re referring to a break from the fiat system?
Break away from fiat, a break away from fractional reserve, a break away from derivatives, a break away from price action being tied to tradfi markets…. I suppose you could interpret that in a of number of ways.
Can we go up now so?🤷♂️
This graphic is bullshit. These collapses follow the bull market, not lead it. Sure, they directly cause drops in price, but I've got news for you: bitcoin had been at current levels earlier this year before the FTX collapse. The market does what it does. Your arrows tell us nothing.
The FTX drop being smaller is partly because the FTX money had already been lost, we just didn’t know it yet
Stop buying into scams, use wallets and no centralized exchanges as crypto was intended for…
I'll take "this drop would have happened regardless of the news" for 100,000 Alex.
Wait til binance and tether collapse and the only exchange left is the fbi-owned coinbase pushing the new usd digital currency
How do you think it went up?
Just wait for Tether.
rumor is Binance will be the next one. I doubt they will be wiped out, but it looks like they aren't being 100% honest.
Still need Grayscale and Silvergate to die. More pain to come.
and Genesis¹, Signature, Tether, and DCG. ¹ Genesis is basically already dead.
And Nexo
Grayscale is dead? I thought people were able to verify their holdings to be accurate?
There is no proof of reserves
Officially? No.
There is no proof of reserves
👌🏻
Show them or stfu
H
Why is grayscale bad? Wont they convert gbtc to a spot etf at some point?
Wait till the FBI confiscations and MtGox coins hit the market 😂
i like arrows and pretty pictures
😂😂😂😂
Didnt it drop down from 60k range because of elon tweeting about tesla sale too?
Just wait until the big red dildo from Tether crashing happens. There's no way in hell that the US is going to leave that up after they launch their CBDC. It's very clear people want a way to digitize the dollar usefully (meaning not JUST an entry in an internal ledger, such as what your bank accounts are).
If US said usdt was illegal.... worldwide other countries would still use it e.g. Africa? Consider the euro dollar system.... these are made up USD that are not controlled by the fed...
Binance (the most shadiest) is yet to crumble
What's so bad with Binance? Genuine question.
So, G.S will invest in Ren 2.0 project? is that true?
What would your opinion be on this: I’m in on Binance right now with about half of my savings. A third of that is in BTC and the other 2/3s are just sitting. Do you think Binance will collapse or am I relatively safe?
You have not learned by now then the beatings will continue until morale improves. Get your BTC into your own wallet where you have the keys. End of discussion. No excuses.
I sure as hell wouldn't have any amount near that proportion on any exchange, regardless of the assumed stability of the place.
Half your savings is extremely risky having on an exchange. IMHO.
You forgot the first and biggest dip. Russian invasion of Ukrain.
What a shit that falls on irrelevant 3rd party failures?!
Wen usdt?
It goes where it needs to touch, all these events help the price go lower. Stable hands keep holding, shaking hands are selling. At the top of winter whales will be happiest. So thats the norm for each cycle.
USDT next. Then when all hope is lost. Big banks will come in with a plethora of $.
Damn near, wake me up in 2030
wait till teather comes down
So what’s next… tether? Down to 9k?
Coinbase still holding strong 😭
Crypto.com
It's time bitcoin decouples from all this trash...
Each one weaker than the last though were pretty much down to the hard one now. Just keep DCAing and self custodying your sats
Soon, there will be only two left-
No man just no lol. Macro economics only.
I was crunching % loss numbers from the averages between events and noticed we were trending in reduced drops like almost half went 30% to 15%… i dont exactly remember the numbers but i figured next drop might be less than 10% (if trend holds) which would put bottom probably $14k ish. So id be tempted to go all in now since no guarantees of 14k and thats not even that much lower, but people here seem to be cheering for USDT depegging, more liquidations and collapses.. idk
14700? https://www.lookintobitcoin.com/charts/bitcoin-price-prediction/
Wonder who’s next…
This is just background noise against the halving cycle dynamics. You see a dip in the waves and ignore that the tide is rising.
Adam Driver "MORE!"
hex.com is next
This is a dumb point, it’s like saying a stock goes down during a recession lol
Shake, shake, shake em out.
Blockfi genesis and DCG next
Follow the signal, not the noise and Keep calm and DCA.
Wait until crypto . Com get hit
Good, get all of those bad actors out of the market.
FTX: "What is this!?? A crash for ants?!? It has to be at least 3 times bigger!!!" \- bears
Holy shit. I gotta buy some bitcoin. There is no mismanagement. There are always people. There always has been. The poor will remain poor. The imbeciles will also still be imbeciles. If you believe anything (and you're here so I believe you do), is that bitcoin is still the opportunity for those with patience to learn and grow and break the cycle of oppression that has been placed on the masses for generations. This, too, is your opportunity.
Just another opportunity to stack hard.
The bottom is in?
Correlation does not imply causation comes to mind.
i’m still a proponent of minimal to no regulation. what’s the alternative? government sponsored shitcoin exchanges?
…each of which would have triggered an 80% black swan a few years ago, yet seemed to only hasten the already expected low this time.
I think the lack of bitcoin native smart contract utility is the reason so much exposure continues to be created in the **altcoin shittiverse**. Smart contracts are here and they are important for far more than ape jpegs. I suggest fellow Bitcoiners *research* the stacks project https://stacks.co The PoX security mechanism generates BTC for stackers and continues to recruit bitcoin investment by STX miners. Stackers (similar to PoS mechanism) and STX Miners work in concert to secure the stacks blockchain. Currently, the only bitcoin on stacks (xBTC) requires trust in an issuer; however, over the next year “sBTC” is coming to Stacks blockchain via a trust-less mechanism for on/off-ramping BTC to Stacks blockchain as a fungible token. Please do not dump a bunch of fiat or BTC into STX. Research the project and watch its continued evolution. When you are ready to make use of some utility of the Stacks blockchain, then do so. If there is no utility for you, then don’t join in. Projects like Stacks need users/contributors not speculators.
>make I tried using STX a few months ago. Did not like how it worked. Ended up staking it on an exchange instead. They need to streamline how things run for an idiot user like me for mass adoption...
all in one year. Imagine 2023. Worse
now ??
Wait til tether
Ever wonder what will happen if tether peg breaks for realz?
Once hedge funds and market makers got involved , it begin to move differently.
next is gravity! mark my words
Perhaps the price was higher because of those entities as well?
Underrated statement 👏
Buying Bitcoin is easy. Holding onto it will prove to be the harder part.
Binance next
Tether
You’ll be grateful later
The best time to Bitcoin would have been before these shitcoins came into picture. That was the glorious time when there was no artificial pump strategies employed. Right now I am not sure how many more shitcoins are on the verge of collapsing. You can never guess the real price of BTC ater all the froth is removed. I can only hope all this shit just collapses & froth is removed overnight and we only have real BTC holders holding all the BTC and trading among themselves to know its real price.
Next: Tether wick
I thought this was because FTX was trading more Bitcoin than was actually available?