L-Dog
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YEah Crypto.com has like 20% of their reserves in Shib a meme coin which could easily go to 0
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Bitcoin Thread
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YEah Crypto.com has like 20% of their reserves in Shib a meme coin which could easily go to 0
Fulcrum29
Honorary Master
Technically Shib isn't a memecoin anymore, though it is meme born. They have started to add value, it is more a question whether they will persevere and deliver on the promised utilities. But, yes, I can’t see how Shib is better than Zil. Doge on the other, well, it is the truest meme shitcoin with the only value being its market cap and very susceptible to a cascading collapse. Doge is where the whales prey on the poor.
Shib simply don't have the backing to serve as a reserve.
Just want to add, the market value price action way higher than utility.
NarrowBandFtw
Honorary Master
that's bad enough, but imo worse is when they rely on tokens they print themselves out of thin air to prop up the books
like Celsius did with CEL
like FTX did with FTT
like Crypto.com could easily do with CRO
like Nexo.io could easily do with NEXO
like Binance could do with BNB
#FullyBacked
Gabe Owner
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Fulcrum29
Honorary Master
Without these institutions, crypto has no value, and people are in it to make money. Just how it ended up. The problem is that it needs to be backed, you know, security, and that it needs to be audited and valuated which it isn’t on an ‘grand’ scale. People don’t care about utility, why are you into crypto? This is notable all over the social sphere, some pundits only speak utility points because they are paid to do so, it gives credence to the promotion.
People should listen more to those behind Kadena, and to people like Stuart Haber who is on its team, Haber being a possible Satoshi Nakamoto (Satoshi being more than one person).
I see so many IDO launchpads, none which are evaluated, it is all blind. Fork this, clone that...
Yeah - and therein lie perhaps the most valuable things that might come out of the bloodbath:
- bitcoin is not just any crypto blockchain, project or token;
- most of the "shytcoin" projects have not had sound governance structures.
Vorastra
Honorary Master
Glorified commodities market.
PoS is the final fck you to people who believe in utility.
Recreating the current financial market with new edgy terminology.
Normies gave it real value. Normies change it for the worse.
Normies giveth, normies taketh away.
Fulcrum29
Honorary Master
For those into NFTs, Binance is now allowing their users access to OpenSea-listed NFTs.
The infuriating thing about what might be called the Celsius-Voyager-FTX equivalent of Bear Sterns-Lehman moments in fiat is that the scoundrels get away every time. Ordinary investors often don't know enough or have access to the necessary information to do proper due diligence. So they have to listen to advisors, talking heads and articles in crypto trade publications. Then all their investments are locked up during years of court cases AND then get cents in the rand. [Of course, all those greedy people who are taken in by too-good-to-be-true returns that are promised deserve what they get.]
As a cynic I am not disappointed in the demonstration that the captains of the crypto ecosystem show the same characteristics shown by bankers in the traditional economy. What saddens me is the fact that holding crypto doesn't protect one from the holders freezing withdrawals. whenever they want to. I hold everything in a cold wallet but that does seem like going back to keeping money under the mattress.
For me, another thing that is showing in the current meltdown is that far too many people equate bitcoin with anything "crypto" - exactly the same as the costly mistake made investing in ANYthing that was ".com". The difference between things that are simply tokens that are the same as tickets to the rugby stadium and currency is lost on most of my family and friends who castigate me for supporting bitcoin as a payment medium and Ethereum as a blockchain platform.
As a cynic I am not disappointed in the demonstration that the captains of the crypto ecosystem show the same characteristics shown by bankers in the traditional economy. What saddens me is the fact that holding crypto doesn't protect one from the holders freezing withdrawals. whenever they want to. I hold everything in a cold wallet but that does seem like going back to keeping money under the mattress.
For me, another thing that is showing in the current meltdown is that far too many people equate bitcoin with anything "crypto" - exactly the same as the costly mistake made investing in ANYthing that was ".com". The difference between things that are simply tokens that are the same as tickets to the rugby stadium and currency is lost on most of my family and friends who castigate me for supporting bitcoin as a payment medium and Ethereum as a blockchain platform.
flytek
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If one recognizes the bubbles by the media mania being louder than normal then times like these merely represent times to consider reinvesting...I'm not sure the doom and gloom is dark enough yet but its getting close..I guess there is now blood on the streets but is it deep enough to buy?
Gabe Owner
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I need to assist my VERY old man get his BTC off the exchanges. I think it is most simple for him to get a Nano ledger S Plus or the equivalent.
- Thoughts on this item?
- Comparable items to look at?
- Where to buy, is Take a Lot safe for this sort of purchase?
NarrowBandFtw
Honorary Master
have a Nano S plus myself, works like a charm, any hardware wallet you get will come with a bit of a learning curve though
comparable: Trezor One is more or less in the same price range and is more or less as popular as Ledger with a decent track record, personally I wouldn't consider other brands
no, the security consious people will tell you this is not the kind of product you buy from Takealot, you can buy direct from the source but their delivery takes a lot of time (that's what I did):
Ledger - certified secure crypto Hardware Wallets | Ledger
Ledger builds the world's leading certified secure crypto asset hardware wallets. Optimal protection for your BTC, ETH, XRP and more - in your full control.
shop.ledger.com
but you can also look at their approved reseller list:
Find or Become an Official Ledger Reseller | Ledger
Find our products distributed by a worlwide network of resellers in 165 countries. Or grow your business by becoming a Ledger Partner.
www.ledger.com
currently 3 South African approved resellers for Ledger:
https://www.bitmart.co.za/product/ledger-nano-s/ (out of stock)
https://cryptovault.co.za/ (they also sell Trezor)
Cryptocurrency Hardware Wallets South Africa | digiwallets
digiwallets is an authorised reseller of Ledger, Trezor, Tangem, and Flipper Zero hardware wallets in South Africa, offering secure storage and fast delivery.
www.digiwallets.co.za
Gabe Owner
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Thank you for your reply. I think the Nano S plus is that way!have a Nano S plus myself, works like a charm, any hardware wallet you get will come with a bit of a learning curve though
comparable: Trezor One is more or less in the same price range and is more or less as popular as Ledger with a decent track record, personally I wouldn't consider other brands
no, the security consious people will tell you this is not the kind of product you buy from Takealot, you can buy direct from the source but their delivery takes a lot of time (that's what I did):
Ledger - certified secure crypto Hardware Wallets | Ledger
Ledger builds the world's leading certified secure crypto asset hardware wallets. Optimal protection for your BTC, ETH, XRP and more - in your full control.
but you can also look at their approved reseller list:
Find or Become an Official Ledger Reseller | Ledger
Find our products distributed by a worlwide network of resellers in 165 countries. Or grow your business by becoming a Ledger Partner.
currently 3 South African approved resellers for Ledger:
https://www.bitmart.co.za/product/ledger-nano-s/ (out of stock)
https://cryptovault.co.za/ (they also sell Trezor)
Cryptocurrency Hardware Wallets South Africa | digiwallets
digiwallets is an authorised reseller of Ledger, Trezor, Tangem, and Flipper Zero hardware wallets in South Africa, offering secure storage and fast delivery.
IMO, it will take a bit longer for the dust to settle and in that time many alt-coins and investment platforms will be under severe pressure. So there could still be more downside and the bottom probably hasn't been reached. Nonetheless, this is definitely a dip so buying might fit your trading or investing strategy.
Tim_vb
Expert Member
Wait until month passes without a prominent exchange imploding
Tim_vb
Expert Member
Sound recommended
Fulcrum29
Honorary Master
Tether isn't going anywhere,
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