he has a lot of money and a large social media following. therefore it is not difficult for Elon Musk to control the market. look a few days ago, he made the price of the doge go up quite significantly. after getting a lot of profit he left the doge which made the price of the doge go down.
It was easy for him a few days ago, now that the market finally woke up to who he really is and that he is only in the market in order to obtain some profits then he is no different than any other whale that manipulates the market, with the difference that we know this was true for the whales from the beginning and now we know it is true of him as well, which is something that has made him to lose his reputation on this market and that we can clearly see he is trying to amend now but it is too little too late for most of us. 
Topic: Bitcoin decline is not related ONLY to Elon Musk! Binance is also related to it! (Read 382 times)
May 25, 2021, 01:40:05 PM
May 23, 2021, 03:42:41 AM
he has a lot of money and a large social media following. therefore it is not difficult for Elon Musk to control the market. look a few days ago, he made the price of the doge go up quite significantly. after getting a lot of profit he left the doge which made the price of the doge go down.
May 23, 2021, 02:44:48 AM
Elon Musk is on the hot seat right now and thats why people are really spotting on him because of the recent events related to him.So i cant blame out for people not to look after him.
Honestly there are lots or several factors which is the reason on this current dip if we do able to see something but there are times where price movement cant really be attached
by any sentiments.
These bitcoin declines is always been part of this market and instead of panicking then better to see this as an opportunity to buy cheaper coins rather
than focusing on whats the fuss around.
I agree with you that current market conditions are a cycle of bitcoin prices. but many people argue that Elon Musk also played a big role in the decline in the current price of bitcoin. this person is able to make the price go up or down just by writing on social media. really great Honestly there are lots or several factors which is the reason on this current dip if we do able to see something but there are times where price movement cant really be attached
by any sentiments.
These bitcoin declines is always been part of this market and instead of panicking then better to see this as an opportunity to buy cheaper coins rather
than focusing on whats the fuss around.
May 22, 2021, 02:13:12 PM
Elon Musk is on the hot seat right now and thats why people are really spotting on him because of the recent events related to him.So i cant blame out for people not to look after him.
Honestly there are lots or several factors which is the reason on this current dip if we do able to see something but there are times where price movement cant really be attached
by any sentiments.
These bitcoin declines is always been part of this market and instead of panicking then better to see this as an opportunity to buy cheaper coins rather
than focusing on whats the fuss around.
I agree, the conditions for a setback were already there, Elon was just the spark that ignited all of this and if it was not him then it would have been someone or something else, however this does not mean that we are going to take this lightly, people are not going to forget what he did and while he is still going to have a lot of fans we must not forget that the number of people that are estimated to be in bitcoin are now close to one hundred million, and all of them are not going to be happy they lost money because of him and most likely will avoid any product and service associated with him. Honestly there are lots or several factors which is the reason on this current dip if we do able to see something but there are times where price movement cant really be attached
by any sentiments.
These bitcoin declines is always been part of this market and instead of panicking then better to see this as an opportunity to buy cheaper coins rather
than focusing on whats the fuss around.
May 19, 2021, 04:34:31 PM
Elon Musk is on the hot seat right now and thats why people are really spotting on him because of the recent events related to him.So i cant blame out for people not to look after him.
Honestly there are lots or several factors which is the reason on this current dip if we do able to see something but there are times where price movement cant really be attached
by any sentiments.
These bitcoin declines is always been part of this market and instead of panicking then better to see this as an opportunity to buy cheaper coins rather
than focusing on whats the fuss around.
Honestly there are lots or several factors which is the reason on this current dip if we do able to see something but there are times where price movement cant really be attached
by any sentiments.
These bitcoin declines is always been part of this market and instead of panicking then better to see this as an opportunity to buy cheaper coins rather
than focusing on whats the fuss around.
May 19, 2021, 04:05:29 PM
It's unbelieveable how many threads get started here about Elon Musk this and Elon Musk that....
Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.
If European governments will join the party then it would be a much bigger disaster for Binance!
We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).
If you think this is just a "DIP", just a market correction, you're in it for a surprise.
It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.
How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.
Thanks for the heads up, this is bad news the only good thing out of this is that this cannot be as big as the Mt. Gox disaster was back then, 90% of all the trades happened on that exchange and binance is not as big so the damage should not be as big, however while people are enraged and sad because of what it is happening this is the opportunity of a lifetime, after this crash is finally over and bitcoin begins to recover we are probably never going to see a price so low so that will be the perfect opportunity to buy bitcoin for a cheap price. Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.
If European governments will join the party then it would be a much bigger disaster for Binance!
We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).
If you think this is just a "DIP", just a market correction, you're in it for a surprise.
It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.
How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.
May 19, 2021, 11:54:18 AM
It's unbelieveable how many threads get started here about Elon Musk this and Elon Musk that....
Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.
If European governments will join the party then it would be a much bigger disaster for Binance!
We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).
If you think this is just a "DIP", just a market correction, you're in it for a surprise.
It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.
How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.
Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.
If European governments will join the party then it would be a much bigger disaster for Binance!
We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).
If you think this is just a "DIP", just a market correction, you're in it for a surprise.
It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.
How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.
Ive been locked out of my Japan Liquid account for over a year now, all the exchanges eventually have to answer to the governing body's where they are located. US citizens not allowed.
May 19, 2021, 11:30:30 AM
I wasn't aware of it but this makes sense. Binance has always been actively involved in all these things and their owner seems more like a trader than the owner of the biggest crypto exchange. I even had a feeling that he was short-selling bitcoins since he has a massive amount and all these allegations must have some truth in there.
It's high time we start using decentralized exchanges because these centralized exchanges control our coins and can manipulate the market easily. I think all these series of events are indicating a shift in the market that might follow soon which is, to start using decentralized exchanges more. I would love to see what comes out of the investigation because if he is involved one bit in this saga then his exchange should be seized and everyone should be given their coins back.
It's high time we start using decentralized exchanges because these centralized exchanges control our coins and can manipulate the market easily. I think all these series of events are indicating a shift in the market that might follow soon which is, to start using decentralized exchanges more. I would love to see what comes out of the investigation because if he is involved one bit in this saga then his exchange should be seized and everyone should be given their coins back.
May 19, 2021, 07:13:21 AM
Hey Man... I think its MtGox all over again Be Cautious My Friend
May 19, 2021, 05:22:39 AM
~
Although many factors caused the price of Bitcoin to fall, Elon Musk and Tesla were the triggers for the decline in Bitcoin prices. As we know how Elon Musk was able to make the meme coin price skyrocket and enter into the top 10 cryptos, then after Tesla decided to invest in Bitcoin,
the price of Bitcoin also rose dramatically. So it's no wonder if Elon Musk and Tesla were able to make crypto prices go up, they could also dump
crypto prices like now.
But I believe everyone will move on from Elon Musk, and I believe that in the near future the price of Bitcoin will rise again. So take the current
opportunity to buy Bitcoin, before the price goes up again, because it is very difficult to wait for Bitcoin to go down as it is today. Regarding
the investigation of Binance exchanges, I'm sure Binance can prove all the allegations to be untrue. So I'm not that worried about the issues
that are currently happening to Binance Exchanges.
Many people are just been amazed because the richest guy on earth is joining bitcoin and since he's intention gas been exposed I believe he will be out of the picture soon the same as Mcafee.
Also I don't believe the fuds rotating right now maybe people need to relax and stop dumping since if they let the fudders win this we will see bitcoin dump more.
May 19, 2021, 04:36:35 AM
Even if Binance shut down today bitcoin market will lose will lose about 5% of its total volume and keep the remaining 95% while the altcoin market loses more than 80% of its total volume and is only left with 20%, and as you can see nobody in the altcoin market seem to care about it either!
It's not only about volume, volume matters so little when it comes to price, we have seen bigger swings up and down with half of the volume experienced in the lowest trading day of last year, the problem is confidence!
If Binance gets shut down a lot of people will say either:
- f# exchanges I'm not touching those anymore
- f% crypto, I'm switching to something "safe" as CFD
- ponzi ponzi ponzi
I dislike binance as much as a person who hasn't yet! been scammed by them can, but I can't deny their global impact, hell, even I have some tokens there and I do own a card, mainly to burn those tokens in real life, dislike their policies as much as you can but you have to make use and acknowledge useful things.
A takedown by the DOJ would be a disaster, it might not have the impact of MtGox but no way in hell we're going away with only 5%.
May 18, 2021, 06:27:52 PM
~
Although many factors caused the price of Bitcoin to fall, Elon Musk and Tesla were the triggers for the decline in Bitcoin prices. As we know how Elon Musk was able to make the meme coin price skyrocket and enter into the top 10 cryptos, then after Tesla decided to invest in Bitcoin,
the price of Bitcoin also rose dramatically. So it's no wonder if Elon Musk and Tesla were able to make crypto prices go up, they could also dump
crypto prices like now.
But I believe everyone will move on from Elon Musk, and I believe that in the near future the price of Bitcoin will rise again. So take the current
opportunity to buy Bitcoin, before the price goes up again, because it is very difficult to wait for Bitcoin to go down as it is today. Regarding
the investigation of Binance exchanges, I'm sure Binance can prove all the allegations to be untrue. So I'm not that worried about the issues
that are currently happening to Binance Exchanges.
I was surprised that the announcement by Musk for Tesla accepting Bitcoin and investing in Bitcoin moved the price so significantly at all. I man a $1.5 billion investment isn't really that big of a deal. It was exciting yes but not that Tesla bought like 10% of Bitcoin. The announcement that Musk himself bought Bitcoin also wasn't that surprising. That guy shoots rockets to the moon, why is anyone surprised he said he owns Bitcoin?
May 16, 2021, 08:24:19 PM
~
Although many factors caused the price of Bitcoin to fall, Elon Musk and Tesla were the triggers for the decline in Bitcoin prices. As we know how Elon Musk was able to make the meme coin price skyrocket and enter into the top 10 cryptos, then after Tesla decided to invest in Bitcoin,
the price of Bitcoin also rose dramatically. So it's no wonder if Elon Musk and Tesla were able to make crypto prices go up, they could also dump
crypto prices like now.
But I believe everyone will move on from Elon Musk, and I believe that in the near future the price of Bitcoin will rise again. So take the current
opportunity to buy Bitcoin, before the price goes up again, because it is very difficult to wait for Bitcoin to go down as it is today. Regarding
the investigation of Binance exchanges, I'm sure Binance can prove all the allegations to be untrue. So I'm not that worried about the issues
that are currently happening to Binance Exchanges.
May 16, 2021, 06:52:24 PM
Its arguable to say its not related at all, its just a normal pullback that occurs sooner or later. People attach a reason or two but as I look at charts mostly every day I see it in that way and we failed to breakout a while back which is a classic bearish sign. If I notice something bearish there is now alot of traders who for their jobs will note as much as well and start the ball rolling to take profits on various trades, that means we head down to register lower prices at least for some time before settling higher or lower after market itself decides. The reasoning or person to blame doesnt exist to me, that is just news or stories really.
May 16, 2021, 06:47:04 PM
It is really a pity that Bitcoin becomes related with a person or an institution, is it reasonable that a good statement from Elon Musk raises the price of Bitcoin and another bad statement causes the price of Bitcoin to drop, this is not good at all, Bitcoin is much bigger than that, it has suffered a lot of difficulties in its history But he emerged victorious each time and was stronger than before.
Anyone who thinks that Bitcoin can be deeply influenced by Elon Musk or Binance is mistaken because all this negative news is nothing but a "whirlwind in a cup" or a "summer cloud" that makes a short bang and then it goes and Bitcoin comes back stronger than before.
Anyone who thinks that Bitcoin can be deeply influenced by Elon Musk or Binance is mistaken because all this negative news is nothing but a "whirlwind in a cup" or a "summer cloud" that makes a short bang and then it goes and Bitcoin comes back stronger than before.
i'd bet to that coming stronger maybe next week. this investigation will just pass and elon's mining fud will die down. very unfortunate for the users whose account was frozen due to the investigation. they can't ignore the fact that pipeline hackers asked for BTC. they could be trying to link it to someone. i don't see anyone's account going to be affected unless you really did something illegal.
Does CZ take full responsibility for what is happening at Binance? In a worst case scenario those affected might end up waiting for quite some time. I am sure authorities are not in a hurry as it is not their money that s frozen right now. Curios how that will end and what penalties Binance will face.
May 16, 2021, 03:58:31 AM
It is really a pity that Bitcoin becomes related with a person or an institution, is it reasonable that a good statement from Elon Musk raises the price of Bitcoin and another bad statement causes the price of Bitcoin to drop, this is not good at all, Bitcoin is much bigger than that, it has suffered a lot of difficulties in its history But he emerged victorious each time and was stronger than before.
Anyone who thinks that Bitcoin can be deeply influenced by Elon Musk or Binance is mistaken because all this negative news is nothing but a "whirlwind in a cup" or a "summer cloud" that makes a short bang and then it goes and Bitcoin comes back stronger than before.
Anyone who thinks that Bitcoin can be deeply influenced by Elon Musk or Binance is mistaken because all this negative news is nothing but a "whirlwind in a cup" or a "summer cloud" that makes a short bang and then it goes and Bitcoin comes back stronger than before.
i'd bet to that coming stronger maybe next week. this investigation will just pass and elon's mining fud will die down. very unfortunate for the users whose account was frozen due to the investigation. they can't ignore the fact that pipeline hackers asked for BTC. they could be trying to link it to someone. i don't see anyone's account going to be affected unless you really did something illegal.
May 16, 2021, 03:40:52 AM
It is really a pity that Bitcoin becomes related with a person or an institution, is it reasonable that a good statement from Elon Musk raises the price of Bitcoin and another bad statement causes the price of Bitcoin to drop, this is not good at all, Bitcoin is much bigger than that, it has suffered a lot of difficulties in its history But he emerged victorious each time and was stronger than before.
Anyone who thinks that Bitcoin can be deeply influenced by Elon Musk or Binance is mistaken because all this negative news is nothing but a "whirlwind in a cup" or a "summer cloud" that makes a short bang and then it goes and Bitcoin comes back stronger than before.
Anyone who thinks that Bitcoin can be deeply influenced by Elon Musk or Binance is mistaken because all this negative news is nothing but a "whirlwind in a cup" or a "summer cloud" that makes a short bang and then it goes and Bitcoin comes back stronger than before.
May 16, 2021, 02:15:23 AM
Except for binance.us the rest is not in US jurisdiction and doesn't serve US citizens, so DOJ/IRS can shove it. Once again the "land of opportunity" tries to stick its greasy fingers where they don't belong.
Sad to say it will have an impact, the US has a huge influence in the business and investing industry if they decide to stick their greasy fingers, it will have a big impact on the whole community and to think that Binance is an industry leader, if they can shoot it down it will leave a chilling effect tot he whole community, something that could crash the market.
May 16, 2021, 12:40:12 AM
It's unbelieveable how many threads get started here about Elon Musk this and Elon Musk that....
Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
people have a deep trust for Binance that's why this was not being highlighted from then and only blame Elon Musk for the dumping Story.Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
and also binance is a Good exchange so there are no way that US investigation will turn inside and not give anything that make the market fall bad.
But of course , FUD will exist always and it will come always.
May 16, 2021, 12:25:56 AM
Yeah, its not Elon Musk only. Various factors caused the price to fall. Starting from US regulators probably going to be more strict, with some countries imposing restrictions, the price was bound to crash. But, Musk did play a greater role over here. As soon as he tweeted about how "bad" bitcoin is to the environment, the price started to tank. When he said Tesla won't accept bitcoin, people started to panic thinking that eventually the whole world will stop using bitcoin based on how "bad" it is to the environment. And remember, there were many people that entered the market just because Tesla invested in bitcoin. Those people left as soon as teslas announced that they won't accept BTC. So yeah, Musks tweet did have a high impact on the current crash. Look at how Doge went up again as soon as he said he will be working with the doge dev team.
Although many factors caused the price of Bitcoin to fall, Elon Musk and Tesla were the triggers for the decline in Bitcoin prices. As we know how
Elon Musk was able to make the meme coin price skyrocket and enter into the top 10 cryptos, then after Tesla decided to invest in Bitcoin,
the price of Bitcoin also rose dramatically. So it's no wonder if Elon Musk and Tesla were able to make crypto prices go up, they could also dump
crypto prices like now.
Indeed, the declaration of Elon about the suspension of acceptance of bitcoin in Tesla somehow, influenced the market. But maybe, it is the time for correction again. With this drop in price, this will be another opportunity for those who are waiting for bitcoin to go down to buy their stash. And with the news that Binance is under investigation, we still don't know the full extent of this news. I am a user of binance and so far, everything is still fine. Maybe for those large whales, they will be strict in their KYC requirements.
May 15, 2021, 09:32:34 PM
Yeah, its not Elon Musk only. Various factors caused the price to fall. Starting from US regulators probably going to be more strict, with some countries imposing restrictions, the price was bound to crash. But, Musk did play a greater role over here. As soon as he tweeted about how "bad" bitcoin is to the environment, the price started to tank. When he said Tesla won't accept bitcoin, people started to panic thinking that eventually the whole world will stop using bitcoin based on how "bad" it is to the environment. And remember, there were many people that entered the market just because Tesla invested in bitcoin. Those people left as soon as teslas announced that they won't accept BTC. So yeah, Musks tweet did have a high impact on the current crash. Look at how Doge went up again as soon as he said he will be working with the doge dev team.
Although many factors caused the price of Bitcoin to fall, Elon Musk and Tesla were the triggers for the decline in Bitcoin prices. As we know how
Elon Musk was able to make the meme coin price skyrocket and enter into the top 10 cryptos, then after Tesla decided to invest in Bitcoin,
the price of Bitcoin also rose dramatically. So it's no wonder if Elon Musk and Tesla were able to make crypto prices go up, they could also dump
crypto prices like now.
May 15, 2021, 06:42:16 PM
Even if Binance shut down today bitcoin market will lose will lose about 5% of its total volume and keep the remaining 95% while the altcoin market loses more than 80% of its total volume and is only left with 20%, and as you can see nobody in the altcoin market seem to care about it either!
Binance is only the beginning.
If this goes on then you can expect lots of big exchanges to shut down or run an excessive KYC checks and Crypto won't be the same.
You would have to use untrusted sites to exchange your Crypto, Coinburp for example is doing it right by regulating themselves with the UK FCA.
Binance did it wrong, it's all about proper regulation and satisfying the bureaucrats.... it could survive, yes, but not like this.
I have never used Coinburp but how does that work? Do they not require any KYC procedure from their users? What does the self regulation look like and can they accept customers from all over the world and in particular from the US as well? They have to follow certain international standards as well I would guess.
May 15, 2021, 03:28:53 PM
this "problems" will only make bitcoin stronger as it is nothing new. we all know the big picture - bitcoin going stronger and prices go higher so some price drops will only lead to stronger price jumps to complete the picture.
the fact is that we are in a typical mid-bull-cycle drop. I believe we will see extremely strong last months of the year for bitcoin and price to cross 6-digit mark. by the way s2f model works like a clock till now.
the fact is that we are in a typical mid-bull-cycle drop. I believe we will see extremely strong last months of the year for bitcoin and price to cross 6-digit mark. by the way s2f model works like a clock till now.
May 15, 2021, 12:38:21 PM
Even if Binance shut down today bitcoin market will lose will lose about 5% of its total volume and keep the remaining 95% while the altcoin market loses more than 80% of its total volume and is only left with 20%, and as you can see nobody in the altcoin market seem to care about it either!
Binance is only the beginning.
If this goes on then you can expect lots of big exchanges to shut down or run an excessive KYC checks and Crypto won't be the same.
You would have to use untrusted sites to exchange your Crypto, Coinburp for example is doing it right by regulating themselves with the UK FCA.
Binance did it wrong, it's all about proper regulation and satisfying the bureaucrats.... it could survive, yes, but not like this.
May 14, 2021, 11:21:08 PM
This is not an important matter which is why it was mostly ignored by the community because for starters Binance is still an altcoin exchange not a bitcoin exchange and the fiat markets there are still pretty small in comparison to the global bitcoin markets (with fiat not Tether shitcoin).
Even if Binance shut down today bitcoin market will lose will lose about 5% of its total volume and keep the remaining 95% while the altcoin market loses more than 80% of its total volume and is only left with 20%, and as you can see nobody in the altcoin market seem to care about it either!
Even if Binance shut down today bitcoin market will lose will lose about 5% of its total volume and keep the remaining 95% while the altcoin market loses more than 80% of its total volume and is only left with 20%, and as you can see nobody in the altcoin market seem to care about it either!
May 14, 2021, 11:01:06 PM
It's unbelieveable how many threads get started here about Elon Musk this and Elon Musk that....
Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.
If European governments will join the party then it would be a much bigger disaster for Binance!
We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).
If you think this is just a "DIP", just a market correction, you're in it for a surprise.
It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.
How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.
hello sir, I am trying to understand what you are saying, so please, sir, maybe the news about how in the future bitcoin / crypto will affect the market is very significant, everyone will sell bitcoin / crypto a little bit because they don't have bitcoin / crypto going down drastically because of news like this or just a little bit of the government interfering in this crypto world, surely bitcoin will slide down and the impact most people will leave bitcoin periodically Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.
If European governments will join the party then it would be a much bigger disaster for Binance!
We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).
If you think this is just a "DIP", just a market correction, you're in it for a surprise.
It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.
How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.
May 14, 2021, 05:33:57 PM
Yeah, its not Elon Musk only. Various factors caused the price to fall. Starting from US regulators probably going to be more strict, with some countries imposing restrictions, the price was bound to crash. But, Musk did play a greater role over here. As soon as he tweeted about how "bad" bitcoin is to the environment, the price started to tank. When he said Tesla won't accept bitcoin, people started to panic thinking that eventually the whole world will stop using bitcoin based on how "bad" it is to the environment. And remember, there were many people that entered the market just because Tesla invested in bitcoin. Those people left as soon as teslas announced that they won't accept BTC. So yeah, Musks tweet did have a high impact on the current crash. Look at how Doge went up again as soon as he said he will be working with the doge dev team.
I agree with you. This time I think bitcoin fall was mainly due to Elon Musk. The effect was instantaneous right after his tweet and news about it were popping everywhere on google. Regulations are a constant threat to bitcoin, but a drop in btc price like the one we saw yesterday isn't constant, so the cause must be sudden and it was indeed Elon Musk and Tesla.If Binance were considerably related to the fall I think BNB would be worse than it is now, already +7,67% during the last 24 hours. Doing really well if compared to bitcoin which has grown only 2,46% on the last 24 hours.
May 14, 2021, 04:58:10 PM
Yeah, its not Elon Musk only. Various factors caused the price to fall. Starting from US regulators probably going to be more strict, with some countries imposing restrictions, the price was bound to crash. But, Musk did play a greater role over here. As soon as he tweeted about how "bad" bitcoin is to the environment, the price started to tank. When he said Tesla won't accept bitcoin, people started to panic thinking that eventually the whole world will stop using bitcoin based on how "bad" it is to the environment. And remember, there were many people that entered the market just because Tesla invested in bitcoin. Those people left as soon as teslas announced that they won't accept BTC. So yeah, Musks tweet did have a high impact on the current crash. Look at how Doge went up again as soon as he said he will be working with the doge dev team.
May 14, 2021, 04:34:24 PM
They are forgetting that there are billions of people on this planet that invest in btc other than musk .
what makes their eyes glued in musk is the fact that Musk invest huge than the average btc investor and this guy post regular updates that are trending in social media because of his popularity .
After his last update in btc the price of btc immediately decrease and people suspected him again but there could be other reasons for the decrease and we missed it because we are busy in musk .
what makes their eyes glued in musk is the fact that Musk invest huge than the average btc investor and this guy post regular updates that are trending in social media because of his popularity .
After his last update in btc the price of btc immediately decrease and people suspected him again but there could be other reasons for the decrease and we missed it because we are busy in musk .
May 14, 2021, 04:18:22 PM
Well, this hype that we have this year is different from before. It seems like people are now being carried away from the rise of cryptocurrencies. It does not work this way before. Let us say that the governments are warning people to avoid cryptocurrency in the near future but this has been told many times already in the past. I think the only problem with it is that the people are too scared and have no skill to secure their funds enough. Regarding the Binance, IRS and DOJ are more than free to investigate. But it does not mean that Binance is at fault and cryptocurrencies will soon go one. I think it would be better to wait for the results yet.
May 14, 2021, 02:37:46 PM
Not really. Even US IP adresses are blocked. There was a hiccup with my DNS provider one day and I couldn't log on from my PC all day, had to use cell instead. And good luck passing KYC with US passport.
The DOJ isn't acting on things that happen now, it has started investigating well before but CZ has always denied it until now when he can't do it anymore.
And in the past all you had to do as a US citizen was to use a VPN and stay under the 2 BTC limit, tens of people on this forum alone have done it and everyone knows it.
Not triggered, just curious why are so pissed off at him.
Let's see
- he's the one that started the fake volume manipulation at OKCoin
- he continuously lied to his users about where the exchange is and how it is licensed
- he has continuously lied about the securing and insurance of the funds on Binance
- he is promoting a centralized cryptocurrency instead of BTC
- his exchange intentionally charges a huge fee for BTC withdrawal compared to other coins that is well above any fees ever paid on the network
- while everyone is waiting for Taproot activation Binance pool is still not signaling
Should be enough?
These are all valid points and I also had them in mind reading this thread. However, I am neither surprised nor impressed that an exchange of that calibre gets under scrutiny anyway. Coinbase isn't even close to their volume. What is more concerning is the fact that accounts are locked and don't get unlocked even after full documentation has been provided. That's where things get shaky. I hope all the issues can be resolved quickly in the best interest of those who are concerned now. They can't be insolvent, but then again I thought that before of other exchanges as well.
May 14, 2021, 01:09:01 PM
With Binance roped into all of this I fear for the price dropped for bitcoin. I just read a thread about Elon Musk who has stopped collecting bitcoin as a means of transaction for tesla cars. I just hope that all this won't have too many negative effects on bitcoin especially with price.
I do not think that the account locked issue of Binance has something to do with the current dip of Bitcoin price. The issue had been around for months/week but the dip just happens recently. If that is the cause we couldn't have seen Bitcoin soar above $55k for so many weeks before this dip. I think aside from Musk's tweet, it is due for Bitcoin to have a healthy retracement before soaring to another All-Time High.
After months and months of bull season, we need a small correction and how often we have seen such bad news come together in a bull market, which makes the price correction. I am sure, this dump will be over in few days and market will pump again. Also we will see good news together with the market pump.
May 14, 2021, 12:59:22 PM
With Binance roped into all of this I fear for the price dropped for bitcoin. I just read a thread about Elon Musk who has stopped collecting bitcoin as a means of transaction for tesla cars. I just hope that all this won't have too many negative effects on bitcoin especially with price.
I do not think that the account locked issue of Binance has something to do with the current dip of Bitcoin price. The issue had been around for months/week but the dip just happens recently. If that is the cause we couldn't have seen Bitcoin soar above $55k for so many weeks before this dip. I think aside from Musk's tweet, it is due for Bitcoin to have a healthy retracement before soaring to another All-Time High.
May 14, 2021, 10:40:55 AM
With Binance roped into all of this I fear for the price dropped for bitcoin. I just read a thread about Elon Musk who has stopped collecting bitcoin as a means of transaction for tesla cars. I just hope that all this won't have too many negative effects on bitcoin especially with price.
May 14, 2021, 10:13:27 AM
Not true. I withdrawn BTC few days ago and it cost me around $2.
Bullshit!
So from a list of 6 we erase 4 as you can't counter anything, one is a personal opinion and the other is a lie!
If you had something meaningful to add probably you would have done by now, but since that's all you had to add, this is the time I say goodbye.
May 14, 2021, 10:02:21 AM
Except for binance.us the rest is not in US jurisdiction and doesn't serve US citizens, so DOJ/IRS can shove it. Once again the "land of opportunity" tries to stick its greasy fingers where they don't belong.
Agreed, but, what if the US govt would prove Binance.com mixed US citizens etc.?
They have more money and power than Binance itself, what would happen then?
Remember e-gold.com?
And so what! binance does not control the whole btc in the market, between binance made sure to make it clear what countries are not allowed to be in binance.com, people still find a way to bypass all this restrictions and register (vpn) how can binance be able to restrict those using vpn, perhaps cz should have been a lot stricter to avoid issues like this, i hope binance can find a way around this because the last thing the crypto community need is for an exchange like binance to go down.
However, even the end of e-gold did not bring an end to crypto.
May 14, 2021, 09:47:41 AM
Not really. Even US IP adresses are blocked. There was a hiccup with my DNS provider one day and I couldn't log on from my PC all day, had to use cell instead. And good luck passing KYC with US passport.
The DOJ isn't acting on things that happen now, it has started investigating well before but CZ has always denied it until now when he can't do it anymore.
And in the past all you had to do as a US citizen was to use a VPN and stay under the 2 BTC limit, tens of people on this forum alone have done it and everyone knows it.
Well before hardly any exchange required KYC. As far as I remember it all started changing in 2018.
Not triggered, just curious why are you so pissed off at him.
Let's see
- he is promoting a centralized cryptocurrency instead of BTC
So what? He has full right to do so and BNB is a very promising platform. Others have similar tokens, too.
Quote
- his exchange intentionally charges a huge fee for BTC withdrawal compared to other coins that is well above any fees ever paid on the network
Not true. I withdrawn BTC few days ago and it cost me around $2.
May 14, 2021, 09:45:17 AM
Let's see
- he's the one that started the fake volume manipulation at OKCoin
- he continuously lied to his users about where the exchange is and how it is licensed
- he has continuously lied about the securing and insurance of the funds on Binance
- he is promoting a centralized cryptocurrency instead of BTC
- his exchange intentionally charges a huge fee for BTC withdrawal compared to other coins that is well above any fees ever paid on the network
- while everyone is waiting for Taproot activation Binance pool is still not signaling
Should be enough?
Very interesting points.
We were not even aware of these points.
Would you save some funds with Binance or would you stay away from it like fire right now?
May 14, 2021, 09:09:09 AM
Not really. Even US IP adresses are blocked. There was a hiccup with my DNS provider one day and I couldn't log on from my PC all day, had to use cell instead. And good luck passing KYC with US passport.
The DOJ isn't acting on things that happen now, it has started investigating well before but CZ has always denied it until now when he can't do it anymore.
And in the past all you had to do as a US citizen was to use a VPN and stay under the 2 BTC limit, tens of people on this forum alone have done it and everyone knows it.
Not triggered, just curious why are so pissed off at him.
Let's see
- he's the one that started the fake volume manipulation at OKCoin
- he continuously lied to his users about where the exchange is and how it is licensed
- he has continuously lied about the securing and insurance of the funds on Binance
- he is promoting a centralized cryptocurrency instead of BTC
- his exchange intentionally charges a huge fee for BTC withdrawal compared to other coins that is well above any fees ever paid on the network
- while everyone is waiting for Taproot activation Binance pool is still not signaling
Should be enough?
May 14, 2021, 07:56:21 AM
I am not worried about this news, because Bitcoin has been attacked in all trenches and has remained undefeated. Since its birth we have seen it and it will not make us recline a single step now.
The Binance case should be solved in the best way and the truth should come out. Fortunately I did my KYC on Binance last month and I didn't have any problems. I would like to apply for the advanced KYC to check for such issues that are mentioned by affected users. I often see user complaints about any problem on Binance and wonder why it happens? As I said luckily Binance works 100% for me.
Elon Musk speechless.
On the other hand, there is a special power of conviction that Michael Saylor has that makes me stay calm. Let's continue victorious on our crypto journey.
The Binance case should be solved in the best way and the truth should come out. Fortunately I did my KYC on Binance last month and I didn't have any problems. I would like to apply for the advanced KYC to check for such issues that are mentioned by affected users. I often see user complaints about any problem on Binance and wonder why it happens? As I said luckily Binance works 100% for me.
Elon Musk speechless.
On the other hand, there is a special power of conviction that Michael Saylor has that makes me stay calm. Let's continue victorious on our crypto journey.
Quote
MicroStrategy has purchased an additional 271 bitcoins for $ 15.0 million in cash at an average price of ~ $ 55,387 per #bitcoin. As of 5/13/2021, we #hodl ~ 91,850 bitcoins acquired for ~ $ 2,241 billion at an average price of ~ 24,403 per bitcoin. $ MSTR
https://twitter.com/michael_saylor/status/1392814015181635584?s=19
https://twitter.com/michael_saylor/status/1392814015181635584?s=19
May 14, 2021, 07:04:23 AM
They were serving US citizen. Binance.com doesn't.
On paper!
Quote
You are not allowed to access or use the Services or the Trading Platform if you are located, incorporated or otherwise established in, or a citizen or resident of: (i) the United States of America, the province of Ontario in Canada, the province of Québec in Canada, the Hong Kong Special Administrative Region of the People’s Republic of China, the Republic of Seychelles, Bermuda, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea or Sudan; (ii)
Bitmex just like Binance never enforced this rule.
Not really. Even US IP adresses are blocked. There was a hiccup with my DNS provider one day and I couldn't log on from my PC all day, had to use cell instead. And good luck passing KYC with US passport.
Did CZ abuse you sexually so you are so upset and angry on him? If not, then what?
Got triggered? Go play outside, probably there are some kids waiting for you!
Not triggered, just curious why are so pissed off at him.
May 14, 2021, 06:56:36 AM
Well, if the industry is truly decentralized, which I believe it is, then everything has to be inter-related. Nothing should be so strong as to be able to manipulate (at least, not beyond the short term) but every single piece of the ecosystem has to be inter-related.
Nothing wrong with Binance and Elon both having a say, either side of the market.
Nothing wrong with Binance and Elon both having a say, either side of the market.
May 14, 2021, 06:48:00 AM
They were serving US citizen. Binance.com doesn't.
On paper!
Did CZ abuse you sexually so you are so upset and angry on him? If not, then what?
Got triggered? Go play outside, probably there are some kids waiting for you!
May 14, 2021, 06:37:25 AM
Except for binance.us the rest is not in US jurisdiction and doesn't serve US citizens, so DOJ/IRS can shove it.
Hahaha, and you really think so?
Remember what happened to Mega? The admin of Alphabay was arrested in Thailand, Bitmex was headquartered in Seychelles, BTC-e in Russia, did that stop the DOJ?
The US jurisdiction ends where the US wants.
They were serving US citizen. Binance.com doesn't.
Quote
As for Binance, let's see, fleeing HK, fleeing Japan while lying to its users it does everything to comply with regulations, staying in Malta but only on Twitter as in reality they've never got a trading license to operate there and now....why would anyone be surprised of what's happening? CZ got too cocky, it's about time he pays the prices for all the bullshit he has done.
Did CZ abuse you sexually so you are so upset and angry on him? If not, then what?
May 14, 2021, 06:32:20 AM
As far as I know, Bitmex and Binance both are under investigation right now. So, this decline is not only related to Elon Musk, yeah. All of these news combined affected the market generally really badly.
If this is a bad news then I know that it will subside as time goes by, I am pretty sure that the investigation isn't going to be resolved easily. I don't see these as a bad thing for the market because if you have the money, you can probably wait for the news to cause a dip in the market and buy some coins at a lower price and just hodl and wait for the profit. May 14, 2021, 06:07:27 AM
We have been under attack from governments for years, so this is nothing new. A few years back ..the government of Japan, closed several exchanges for investigation..because they manipulated trading volumes to pull more customers. (The exchange with the highest trading volume, was supposed to attract more customers.. creating the perception that it was more popular and that orders will be filled quicker)
So the government attack was to kick out exchanges that were faking numbers and manipulating the market?
Wow the horror! Please no, no more such attacks, we need those fake numbers!
Except for binance.us the rest is not in US jurisdiction and doesn't serve US citizens, so DOJ/IRS can shove it.
Hahaha, and you really think so?
Remember what happened to Mega? The admin of Alphabay was arrested in Thailand, Bitmex was headquartered in Seychelles, BTC-e in Russia, did that stop the DOJ?
The US jurisdiction ends where the US wants.
As for Binance, let's see, fleeing HK, fleeing Japan while lying to its users it does everything to comply with regulations, staying in Malta but only on Twitter as in reality they've never got a trading license to operate there and now....why would anyone be surprised of what's happening? CZ got too cocky, it's about time he pays the prices for all the bullshit he has done.
May 14, 2021, 04:44:16 AM
Elon was the main reason for this. He is a traitor of crypto industry
May 14, 2021, 04:34:06 AM
Binance and other centralized exchanges should never be fully trusted but CZ did post that they are working with law enforcement agencies to fight bad players, and they would not risk some global ban now but we can expect to see more strict kyc rules soon.
Solution is to use more decentralized exchanges like Bisq with other similar forks and P2P trading websites, and we can see that trading volume for them is growing in all parts of the world where they banned centralized exchanges.
With current worldwide inflation, money printing, food and other prices going up, we should not really worry so much about Bitcoin price swings or what Elon or CZ are doing, because looking long term we are still going up, just don't keep your coins on exchanges.
Solution is to use more decentralized exchanges like Bisq with other similar forks and P2P trading websites, and we can see that trading volume for them is growing in all parts of the world where they banned centralized exchanges.
With current worldwide inflation, money printing, food and other prices going up, we should not really worry so much about Bitcoin price swings or what Elon or CZ are doing, because looking long term we are still going up, just don't keep your coins on exchanges.
May 14, 2021, 04:21:30 AM
As far as I know, Bitmex and Binance both are under investigation right now. So, this decline is not only related to Elon Musk, yeah. All of these news combined affected the market generally really badly.
May 14, 2021, 03:34:21 AM
Except for binance.us the rest is not in US jurisdiction and doesn't serve US citizens, so DOJ/IRS can shove it. Once again the "land of opportunity" tries to stick its greasy fingers where they don't belong.
Agreed, but, what if the US govt would prove Binance.com mixed US citizens etc.?
They have more money and power than Binance itself, what would happen then?
Remember e-gold.com?
Yes I remember E-gold and there was lot's of dodgy activities by its founder - laundering money from carding etc. It was a looong time ago so I don't remember details now. Anyway, this is different. And for mixing citizens that would be solely individual's fault - at registration there's clear warning regarding who can and who can't use it.
We can speculate on the subject as long as we want but my opinion is just that, US is trying to act as a world cop thinking they can do whatever they please.
May 14, 2021, 02:46:29 AM
This news could have drastic effect on the market, and so is the Elon Musk announcement. Nevertheless we have seen this kind of attacks or FUD before. So it won't be that long that the price can recover again and we can forget about this news. So the best advise is not to panic, doesn't make sense to sell right now to make profit. You can make huge money in the next couple of months or at least at the end of the year. And yes, this only affects Binance.US afaik.
May 14, 2021, 02:44:09 AM
Except for binance.us the rest is not in US jurisdiction and doesn't serve US citizens, so DOJ/IRS can shove it. Once again the "land of opportunity" tries to stick its greasy fingers where they don't belong.
Agreed, but, what if the US govt would prove Binance.com mixed US citizens etc.?
They have more money and power than Binance itself, what would happen then?
Remember e-gold.com?
May 14, 2021, 02:32:26 AM
It's unbelieveable how many threads get started here about Elon Musk this and Elon Musk that....
Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.
If European governments will join the party then it would be a much bigger disaster for Binance!
We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).
If you think this is just a "DIP", just a market correction, you're in it for a surprise.
It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.
How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.
Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.
If European governments will join the party then it would be a much bigger disaster for Binance!
We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).
If you think this is just a "DIP", just a market correction, you're in it for a surprise.
It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.
How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.
Except for binance.us the rest is not in US jurisdiction and doesn't serve US citizens, so DOJ/IRS can shove it. Once again the "land of opportunity" tries to stick its greasy fingers where they don't belong.
May 14, 2021, 02:22:44 AM
We have been under attack from governments for years, so this is nothing new. A few years back ..the government of Japan, closed several exchanges for investigation..because they manipulated trading volumes to pull more customers. (The exchange with the highest trading volume, was supposed to attract more customers.. creating the perception that it was more popular and that orders will be filled quicker)
The attacks/sabotage from Banks is also not something new, just look at the actions from Banks in Australia a few years ago and how they were forced by their own "competition" watch dog to allow for people to make choices and to allow competition. (The public stood up against them and declared a group dispute)
We will never be free from government interference, but fortunately for us ...most government are elected with votes and we can use those votes against them.
The attacks/sabotage from Banks is also not something new, just look at the actions from Banks in Australia a few years ago and how they were forced by their own "competition" watch dog to allow for people to make choices and to allow competition. (The public stood up against them and declared a group dispute)
We will never be free from government interference, but fortunately for us ...most government are elected with votes and we can use those votes against them.
May 14, 2021, 02:16:12 AM
It is clear that correlation does not imply causation. It had some influence, but it need not have been the only influence. I also believe that the threat of hyperinflation that brought down the stock market also had some influence on the price of Bitcoin. In the medium and long term, inflation should drive the price up, but in the short term there are people who invest in Bitcoin as just another financial asset and when faced with news like this, they sell. Simply because they believe the price is going to go down.
May 14, 2021, 02:11:18 AM
It's unbelieveable how many threads get started here about Elon Musk this and Elon Musk that....
Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.
If European governments will join the party then it would be a much bigger disaster for Binance!
We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).
If you think this is just a "DIP", just a market correction, you're in it for a surprise.
It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.
How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.
Have you actually read the news recently?! Just a few hours ago it was reported that Binance is being investigated by the IRS and the Department of Justice (aka DOJ) in the US.
2 days ago Yahoo/Coindesk published an article about many Binance users who have their accounts locked and waiting weeks/months to unlock it without any success, despite sending all the proper KYC verification documents etc.
If European governments will join the party then it would be a much bigger disaster for Binance!
We already posted this thread that exemplifies one problem that Binance has - you gain interest, report and pay 0 tax on it (we don't mind but the governments do).
If you think this is just a "DIP", just a market correction, you're in it for a surprise.
It's not for nothing that the Bank of England's governor warned investors and told them to stay away from Crypto in the near future.
How all this will roll out? no one knows. Yes, Crypto is a game changer, but the governments around the world seem to step up against it, we're in it for a rollercoaster ride now.
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