Let me just correct you on one thing, the collapse of FTX is not caused by CZ as you imply it is, and FTX isn't doomed by the liquidation of its customers, but by the mismanagement of the people behind this sham of an exchange. Imagine mismanaging funds as big as $2 billion and calling it an "accounting error you overlooked" (non-verbatim), as well as injecting funds to your sister company, funds that the people themselves entrusted to you.
The same thing can be said with Luna. Luna is completely aware of their activities and are conscious of its consequences.
Don't paint these people as if they are "honest people who made stupid mistakes". It's billions of dollars on the line, no one would buy that narrative here.
All in all, I get your point, we must all be more wise when it comes to investing our own money. But in the defense of the people who trusted these guys with their hard-earned money, these people were so good at their act they had us all believe that they were really good guys, FTX especially.
So along with learning a lesson and becoming more investigative of your new venture, perhaps include "being more forgiving of personal fails" too, because on god I've seen a lot of people go so harsh on themselves after all this shenanigan.
Topic: Have you taken lessons? - page 3. (Read 750 times)
In all the events that took place in this year 2022 on accounts of the loses experienced by many centralized exchange customers I didn't fall victim of any. And in all these events that unfold this year it cemented my decision of not trusting centralized exchange with my assets. I am currently doing my best to avoid shit coins as we enter year 2023 even though some persons consider shit coins to be a quick means of hitting high profit margin, it's also in same way it could quick trash your asset to nothing too.
Another mistake some persons make is storing their assets in centralized exchange when they can safely do that with a non-custodial wallet for their own good, perhaps they are scared of responsibility.
Another mistake some persons make is storing their assets in centralized exchange when they can safely do that with a non-custodial wallet for their own good, perhaps they are scared of responsibility.
I don't feel any rage. And this year taught me to focus more on Bitcoin and not to make any predictions. Everything can go drastically wrong because of random or not so random, but unknown reasons.
Not to make any prediction is far different from being patient with the market behavior. Indeed the market is volatile in nature but to let things slide would be different. Making assumptions still is better because it would llow an investor to gauge situations; the current market behavior is still profitable if you'd be able to know when will the market price fall and rise through futures trading and scalping. Not unless you're into long term holding, speculating the market will be always needed.the lessons I learned include not keeping my investment assets on the stock exchange. keeping it in a private wallet is safer. because full control is in our hands. before the FTX bankruptcy occurred, I still often kept some of my long-term investment assets on the stock exchange. and stake it only to get a meager profit per year. But now I no longer do that. because I'm afraid that what happened to the FTX exchange could happen to the exchange where I usually buy and store my crypto assets.
Well, this is just the least you could do as an investor which is to be more responsible of your assets. Always be aware of the possible worse case scenario to avoid unexpected things and negative market behaviors which could yield to profit loss or damage to your assets. This simply includes the way you store your capital. 
the lessons I learned include not keeping my investment assets on the stock exchange. keeping it in a private wallet is safer. because full control is in our hands. before the FTX bankruptcy occurred, I still often kept some of my long-term investment assets on the stock exchange. and stake it only to get a meager profit per year. But now I no longer do that. because I'm afraid that what happened to the FTX exchange could happen to the exchange where I usually buy and store my crypto assets.
How about this news? I think we can learn a lesson or two: U.S. Treasury Sanctions Notorious Virtual Currency Mixer Tornado Cash and the developer is arrested.
So anyone can be put into jail, specially this kind of mixers. We all know that majority of privacy coins has been delisted, so maybe next year we will hear such services again at the helm of US government.
Until recently, the owners of the mixrs could not be tracked or held accountable, especially since they work anonymously and do not need work permits or licenses. This is what makes the tracking process difficult if we take into account that in cases of turning into an exit scam, users do not complain to the authorities, and even if they wanted to, they do not know which party to complain to. So anyone can be put into jail, specially this kind of mixers. We all know that majority of privacy coins has been delisted, so maybe next year we will hear such services again at the helm of US government.
The lesson that we learn as users is not to trust mixer platforms, especially those that are newly launched (there are many of them in the market now) and to use platforms that have proven their reliability over the years (unfortunately, there are very few of them actually).
I don't feel any rage. And this year taught me to focus more on Bitcoin and not to make any predictions. Everything can go drastically wrong because of random or not so random, but unknown reasons.
Are you new in crypto? There is a lot of scam happening on crypto since Bitcoin started especially on ICO, Casino, Ponzi, Hyip and other bullshit scheme that happening in the sideline. Due to the anonymous nature of crypto, many scammer can freely scam without being notice.
All the event that you posted are those company that scam but protected by the law that’s why they manage to file bankruptcy form. But real scams is happening every seconds since the introduction of crypto. So asking if we learned lesson on this current shit show is useless since real crypto OG is already immune on this event.
All the event that you posted are those company that scam but protected by the law that’s why they manage to file bankruptcy form. But real scams is happening every seconds since the introduction of crypto. So asking if we learned lesson on this current shit show is useless since real crypto OG is already immune on this event.
To be honest, I'm not sure if all of this nonsense has anything to do with Bitcoin. All I can think of is that they have only given Anti-Bitcoiners the opportunity to spread FUD about Bitcoin, forcing hodlers to sell their coins and also changing the minds of those who are new to Bitcoin and may be potential investors.
Everything has to do with Bitcoin, especially the Korean scammer's stablecoin which was supposed to be backed with Bitcoin and when things started going downhill Kwon started selling large amounts of BTC and thus brought down the price by some $10k. The panic that arose then caused a lot of damage, and we still feel it today, along with everything that followed after that. If you compare the Kwon disaster with FTX, then this first one is maybe even five times bigger in financial terms, because estimates go from $80 billion upwards.
If not for the fact that we still need to depend on cex due to certain features that dex can't offer I doubt if anyone will still be willing to use cex after all these fiascos. But never the less don't forget to treat cex as an exchange rather than a wallet no matter how safe you think the exchange is.
Only one thing in life must be done and it is common to all - we have to die at some point. CEXs have unfortunately turned out to be a necessary evil, but will continue to be just that given that most people do not know about the alternative, and that they will always choose the line of easiest resistance regardless of the risk.
A lot of water will still flow under the bridges of the world's rivers until people learn their lesson, and maybe some rivers will dry up before then.
I don't need to feel anger for what happened this time of year because I am not a victim of all those bad things.
But even so, I feel the loss as a result of the downturn that occurred in the market and still trying to survive this situation.
The lesson to be learned from all these bad events is that we must be very careful spending money to invest in crypto and only choose projects with strong support and not just the projects.
Maybe you will be confused about the project but if you can find more info, you will find it.
And maybe to avoid losses in investing in new projects, you can invest in bitcoins only.
But even so, I feel the loss as a result of the downturn that occurred in the market and still trying to survive this situation.
The lesson to be learned from all these bad events is that we must be very careful spending money to invest in crypto and only choose projects with strong support and not just the projects.
Maybe you will be confused about the project but if you can find more info, you will find it.
And maybe to avoid losses in investing in new projects, you can invest in bitcoins only.
To be honest, I'm not sure if all of this nonsense has anything to do with Bitcoin. All I can think of is that they have only given Anti-Bitcoiners the opportunity to spread FUD about Bitcoin, forcing hodlers to sell their coins and also changing the minds of those who are new to Bitcoin and may be potential investors.
If not for the fact that we still need to depend on cex due to certain features that dex can't offer I doubt if anyone will still be willing to use cex after all these fiascos. But never the less don't forget to treat cex as an exchange rather than a wallet no matter how safe you think the exchange is.
This year made crypto investors realise that they need to be more cautious on the type of CEX they use and what type of coin they are investing on
If not for the fact that we still need to depend on cex due to certain features that dex can't offer I doubt if anyone will still be willing to use cex after all these fiascos. But never the less don't forget to treat cex as an exchange rather than a wallet no matter how safe you think the exchange is.
There were many bad things that happened this year, but we can learn from them. CEX misfortunes have been going on prior to FTX fall however, most traders continue to trade on CEX. When compared to DEX, CEX features are still too advanced. Even if they intend to hold it for a long time, there are also individuals who hold bitcoin in CEX.
Only a few altcoins have real potential out of the thousands in the market, but they are all risky in comparison to bitcoin.
Only a few altcoins have real potential out of the thousands in the market, but they are all risky in comparison to bitcoin.
The examples OP showed indicate, that Bitcoin is one and only cryptocurrency that meant to be owned, and it must be stored only on a personal wallet. Fully agree, but those lessons also show that sometimes it is worth taking a risk, as huge and reputed altcoins have a lifespan of 1 year minimum. Think what can be achieved during a year, taking into consideration that altcoin prices easily grow multiple times. My conclusion - everything must be balanced, but minor risk is acceptable.
This year made crypto investors realise that they need to be more cautious on the type of CEX they use and what type of coin they are investing on
Ppl never realise mistakes here. We had one more major CEX collapse (mt. gox) in early 2014. Did ppl stop using cexes since then? You can figure it out yourself.We had major coin collapse (bitconnect) in early 2018, where its value fell to almost worthless sht but did ppl stop investing in sh*tcoins since then? Ppl still are taking risks. They never learnt and never will. The cycle will continue, thats why many OGs too call the markets crazy and we cant change it. Be ready, there will be another bubble in the next bull market preparing to get burst later, lol.
They have learned their lesson, but their greed is so great that they will quickly be overshadowed by their previous losses by profits. And for some people, they will have no choice, if you make a profit by day trading, then you will have no choice but to continue using CEX. Currently, there is no DEX that can provide the same features as CEX, we have no choice.
For altcoins, not all of them are shitcoins, and not everyone loses, there are still a lot of people making profits from altcoins.
This year made crypto investors realise that they need to be more cautious on the type of CEX they use and what type of coin they are investing on
Ppl never realise mistakes here. We had one more major CEX collapse (mt. gox) in early 2014. Did ppl stop using cexes since then? You can figure it out yourself.We had major coin collapse (bitconnect) in early 2018, where its value fell to almost worthless sht but did ppl stop investing in sh*tcoins since then? Ppl still are taking risks. They never learnt and never will. The cycle will continue, thats why many OGs too call the markets crazy and we cant change it. Be ready, there will be another bubble in the next bull market preparing to get burst later, lol.
Towards the end of 2022 We all know that in 2022 the crypto market experienced a very violent storm, especially until the price of Bitcoin fell by -60% of its ATH, several events pushed bitcoin to fall as it is now, which I know include;
1. Tera Luna
https://pbs.twimg.com/media/Fkt5dCfWYAATK8c?format=jpg&name=900x900
Technically, Terra Luna was not bankrupt but the monumental crash cost the owners of LUNA and UST an estimated $60 billion in losses. and pulled other companies into the abyss of their demise.
2. Three Arrows Capital (3AC)
https://pbs.twimg.com/profile_images/1604830346008461312/-w62UKLK_400x400.jpg
Bankrupted on July 1, 2022, the main cause was due to the ownership of the LUNA token which collapsed with UST due to a massive sell-off. They owe an estimated $3.5 billion to 27 different companies including Blockchain.com, Voyager Digital, and Genesis Global Trading.
3. Digital Voyager
https://thecbq.ca/wp-content/uploads/2020/08/1.-Featured-Image-Voyager-Stephen-Ehrlich-CEO.jpg
Bankrupt after 3AC, July 5, 2022, due to financial difficulties resulting from a loss of $650 million in 3AC. the latest news is that Voyager Digital was acquired by Binance for a $1.22 billion ransom.
4. Celsius
https://pbs.twimg.com/media/FfimQThXkAQVLqD?format=jpg&name=900x900
Bankrupt on July 13 due to a prolonged Bear market and also affected by the bankruptcy of 3AC, because they borrowed $75 million from 3AC and have a total debt of $5.5 billion.
5. Comput North (Bitcoin mining)
https://imasons.org/wp-content/uploads/2022/01/dave-perrill-highres-sm-350x350.png
This mining company went bankrupt on September 22, 2022, due to a falling Bitcoin price and economic difficulties which were triggered by an increase in energy costs for mining, its assets were sold out.
6. FTX Group & Alameda Research
https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ilrG41TEihIk/v1/1000x-1.jpg
Declared bankrupt on November 11th, destroyed after massive liquidation by its customers, this was triggered by CZ selling all Native FTT tokens, because these tokens were used as collateral or debt guarantees to borrow money by Alameda Research.
7. BlockFi
https://images.ctfassets.net/s9sj79zoigw1/6AP4up2hDA5omNzDKxvQr3/92fb164e019a4ce0b223013a13068e40/zac_prince.jpeg
Filed for bankruptcy on November 28 due to its association with FTX, BlockFi estimates that it has $1 billion in assets, while the company's total liabilities or debts are at least $10 billion.
8. Genesis
https://pbs.twimg.com/profile_images/1552286404193001472/R0PEHI25_400x400.jpg
Had temporarily stopped withdrawing user funds citing "unprecedented market turmoil" after the FTX collapse, but was saved by creditors from the crash crisis.
9. Core Scientific
https://s29.q4cdn.com/356375974/files/images/board/mike_levitt.jpg
Its shares plunged to 30% of resources sold out on December 21 and declared bankruptcy, but its bitcoin mining continues, it is said, to cover debts.
All of these incidents have had a significant effect on the price of Bitcoin, I can't go into detail because it would be too long and too much drama, but other than that, we have to take lessons from every incident that happened in 2022 as knowledge to be better for the future.
So, have you expressed your rage for 2022, and what have you learned from all of this in 2022?
Tell me if I missed something
#happyNewYearBitcointalk
1. Tera Luna
https://pbs.twimg.com/media/Fkt5dCfWYAATK8c?format=jpg&name=900x900
Technically, Terra Luna was not bankrupt but the monumental crash cost the owners of LUNA and UST an estimated $60 billion in losses. and pulled other companies into the abyss of their demise.
2. Three Arrows Capital (3AC)
https://pbs.twimg.com/profile_images/1604830346008461312/-w62UKLK_400x400.jpg
Bankrupted on July 1, 2022, the main cause was due to the ownership of the LUNA token which collapsed with UST due to a massive sell-off. They owe an estimated $3.5 billion to 27 different companies including Blockchain.com, Voyager Digital, and Genesis Global Trading.
3. Digital Voyager
https://thecbq.ca/wp-content/uploads/2020/08/1.-Featured-Image-Voyager-Stephen-Ehrlich-CEO.jpg
Bankrupt after 3AC, July 5, 2022, due to financial difficulties resulting from a loss of $650 million in 3AC. the latest news is that Voyager Digital was acquired by Binance for a $1.22 billion ransom.
4. Celsius
https://pbs.twimg.com/media/FfimQThXkAQVLqD?format=jpg&name=900x900
Bankrupt on July 13 due to a prolonged Bear market and also affected by the bankruptcy of 3AC, because they borrowed $75 million from 3AC and have a total debt of $5.5 billion.
5. Comput North (Bitcoin mining)
https://imasons.org/wp-content/uploads/2022/01/dave-perrill-highres-sm-350x350.png
This mining company went bankrupt on September 22, 2022, due to a falling Bitcoin price and economic difficulties which were triggered by an increase in energy costs for mining, its assets were sold out.
6. FTX Group & Alameda Research
https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ilrG41TEihIk/v1/1000x-1.jpg
Declared bankrupt on November 11th, destroyed after massive liquidation by its customers, this was triggered by CZ selling all Native FTT tokens, because these tokens were used as collateral or debt guarantees to borrow money by Alameda Research.
7. BlockFi
https://images.ctfassets.net/s9sj79zoigw1/6AP4up2hDA5omNzDKxvQr3/92fb164e019a4ce0b223013a13068e40/zac_prince.jpeg
Filed for bankruptcy on November 28 due to its association with FTX, BlockFi estimates that it has $1 billion in assets, while the company's total liabilities or debts are at least $10 billion.
8. Genesis
https://pbs.twimg.com/profile_images/1552286404193001472/R0PEHI25_400x400.jpg
Had temporarily stopped withdrawing user funds citing "unprecedented market turmoil" after the FTX collapse, but was saved by creditors from the crash crisis.
9. Core Scientific
https://s29.q4cdn.com/356375974/files/images/board/mike_levitt.jpg
Its shares plunged to 30% of resources sold out on December 21 and declared bankruptcy, but its bitcoin mining continues, it is said, to cover debts.
All of these incidents have had a significant effect on the price of Bitcoin, I can't go into detail because it would be too long and too much drama, but other than that, we have to take lessons from every incident that happened in 2022 as knowledge to be better for the future.
So, have you expressed your rage for 2022, and what have you learned from all of this in 2022?
Tell me if I missed something
#happyNewYearBitcointalk
Earthquakes occur so frequently that it is hard to imagine the experience of 2022. I passed your course, I learned to be prudent, not to be greedy, to hold Bitcoin but not to play with too much capital. Through various major events this year, it fully illustrates the ugliness of capital and the importance of decentralization.
this must not be in altcoin discussion mate because there is nothing to do with Bitcoin (though this is about cryptocurrency.
lesson i learned? to never believe so much in Altcoin project
from now on I will completely believe in Bitcoin and will just spend small amount in altcoins if needed.
What OP has mentioned in the above post is basically pointing out to the risk these centrally owned financial services have if you keep your funds with them like exchanges or any other platforms while altcoin is different subject.You have decided to invest in bitcoin only then it's really great but the thiis keep them in your custody without relying on these platforms who have access to your funds as we have seen how their collapse can lead us to zero investment and returns. lesson i learned? to never believe so much in Altcoin project
from now on I will completely believe in Bitcoin and will just spend small amount in altcoins if needed.
2. Three Arrows Capital (3AC)
Bankrupted on July 1, 2022, the main cause was due to the ownership of the LUNA token which collapsed with UST due to a massive sell-off. They owe an estimated $3.5 billion to 27 different companies including Blockchain.com, Voyager Digital, and Genesis Global Trading.
Bankrupted on July 1, 2022, the main cause was due to the ownership of the LUNA token which collapsed with UST due to a massive sell-off. They owe an estimated $3.5 billion to 27 different companies including Blockchain.com, Voyager Digital, and Genesis Global Trading.
The LUNA/UST meltdown was just one minor thing — they mostly became bankrupt when they were hilariously (and obviously carelessly) long Ethereum with too much leverage.
I wouldn’t exactly express any rage for the year 2022. The year, like every other year had its ups and downs and I would like to always look on the bright side.
What I have especially learned this year is not to put and leave your funds into any exchanges as we’ve seen exchanges come out all strong and later fold up taking peoples money along with them. Sadly this year, people learnt the hard way about exchanges with the demise of FTX. Hopefully, that would be the wake up call some people desperately need.
What I have especially learned this year is not to put and leave your funds into any exchanges as we’ve seen exchanges come out all strong and later fold up taking peoples money along with them. Sadly this year, people learnt the hard way about exchanges with the demise of FTX. Hopefully, that would be the wake up call some people desperately need.
what have you learned from all of this in 2022?
In some cases I made it out in time, in others I didn't. What I've learnt, for sure, is that during a bear market you better keep all your cryptos with you: nothing on exchanges, no lending platforms, none of all those things. If prices go up then everything is fine, when things go south then we saw how everything is more connected than what we thought.The recession is a signal to withdraw your funds from all platforms. Though I can't relate because I don't have funds on other platforms and keep them in my own wallet, it is really the best thing to do if it happens again (which I hope it doesn't) because it is not safe because everything would be a problem on a bear market and it was also affected by the recession. In "green days," we really don't have a problem at all, as most of the exchange platforms are doing well, but when "bear days" come, that is really a huge problem, as there are possibilities that they would be closing due to the price constantly dropping.
this must not be in altcoin discussion mate because there is nothing to do with Bitcoin (though this is about cryptocurrency.
lesson i learned? to never believe so much in Altcoin project
from now on I will completely believe in Bitcoin and will just spend small amount in altcoins if needed.
lesson i learned? to never believe so much in Altcoin project
from now on I will completely believe in Bitcoin and will just spend small amount in altcoins if needed.
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