Bitcoin tanks on Binance-FTX deal doubts

Q

Quicks

Expert Member
Joined
May 29, 2017
Messages
3,154
Syphonx said:
That makes no sense at all. You expect it to go under $1 if the price dips below $15,000?
Click to expand...

Tried to find the article, maybe I just read it wrong. Most prediction says in will fall below 15K or even 10K.

Still mighty tempting, or maybe it will fall and never recover?
 
Randux

Randux

Expert Member
Joined
May 7, 2010
Messages
3,883
Quicks said:
Tried to find the article, maybe I just read it wrong. Most prediction says in will fall below 15K or even 10K.

Still mighty tempting, or maybe it will fall and never recover?
Click to expand...
12K is my heavy buying point. I pray for more blood in the streets.
 
Swa

Swa

Honorary Master
Joined
May 4, 2012
Messages
31,217
Puts in order at R1 with Sol. Now where's that guy with my fish and chips? Oh sorry, wrong Sol.
 
Fulcrum29

Fulcrum29

Honorary Master
Joined
Jun 25, 2010
Messages
55,053
Whales duped some Dogebros. 'Poor' people shouldn't panic, they only make the rich richer. The market will recuperate in time, and it may be healthier then. People can't ignore that there may be something worse than a recession looming. The signals are pretty bad out there.
 
Swa

Swa

Honorary Master
Joined
May 4, 2012
Messages
31,217
MrGray said:
As far as I can tell in this complicated saga, none of this actually has anything to do with BTC at all, but it's causing a contagion effect.

This could make it a good buying opportunity for BTC as there is nothing here that fundamentally affects it and the market will probably calm down after the fall out. But then again, betting on a bottom is risky when the sword is still falling, so be warned.
Click to expand...
None of it has anything to do with crypto in general. Thing is everyone is buying and cashing out of everything else to get in and out of these few coins. It's a good buying opportunity for most coins but a bad margin opportunity with all the volatility going on. One of crypto's major mistakes was using BTC as a trading currency to get away from the traditional markets when it's actually still linked so tightly to them. Should have been something like USD instead.

backstreetboy said:
0.1 BTC is still 0.1 BTC.
Click to expand...
And one zim dollar is still one zim dollar. That old canard is getting tiresome.
 
Fulcrum29

Fulcrum29

Honorary Master
Joined
Jun 25, 2010
Messages
55,053
A thing nobody in the news is talking about is proof-of-stake. FTX is home to many SOL and ETH nodes, and those abandoning ship are taking their liquid staking with them. I believe this may be one of the motivations for Binance to see the acquisition through, because losing nodes can cause some discomfort (to be nice about it).

I expect a good amount of ETH and SOL to be dumped. Again for those who have ETH locked up, ouch.
 
Temujin

Temujin

Honorary Master
Joined
Apr 18, 2015
Messages
18,312
MrGray said:
Also tempted but I think I'll sit it out for a few days still - these things seem to take a while for their full implication to unfold.
Click to expand...
Yeah, I'm waiting patiently for 11k'ish
 
P

Petec

Expert Member
Joined
Mar 22, 2012
Messages
3,161
TStringList said:
This kind of manipulation is one of the main reasons why cryptocurrency will find it difficult to become mainstream and adopted. The exchanges are colluding. "Hacks" are nothing but someone cashing out. What the media portrays and what goes on behind the scenes are vastly different. The man on the street is so ignorant about the level of greed and corruption in this space.
Click to expand...
Same as traditional stocks and the banking/housing sector ;)
 
Fulcrum29

Fulcrum29

Honorary Master
Joined
Jun 25, 2010
Messages
55,053
finance.yahoo.com

Most of FTX's Legal and Compliance Team Quit: Report

Semafor, a news organization that FTX's Sam Bankman-Fried invested in, cites people familiar with the matter.
finance.yahoo.com finance.yahoo.com

Most of FTX's Legal and Compliance Team Quit: Report​


The majority of FTX's legal and compliance team quit Tuesday, Semafor reported, citing people familiar with the matter.

That could create a headache as the cryptocurrency exchange deals with a liquidity crisis and potential regulatory scrutiny.
Click to expand...

jump-ship-jumping-ship.gif
 
Fulcrum29

Fulcrum29

Honorary Master
Joined
Jun 25, 2010
Messages
55,053
I pity people now who still have crypto on FTX, seeing how dramatic things are now I don't think Binance might pursue the deal. This will probably be the hardest hit in crypto history. Sadly, many blockchain nodes will be disconnected.

There is also now a good chance that regulated crypto with 'traditional' backing will rise. Don't bet on it though.
 
You must log in or register to reply here.
Top