Topic: Have you taken lessons? (Read 752 times)

Lessons for stocks, cryptocurrencies are equal to technical chart analysis for any type of market. But the crypto market is unregulated while accepting cryptocurrencies so there is no circuit breaker rule in terms of dumps and this market operates all day, so one has to be very careful and keep monitoring. Also, due to this popularity this price is now very high. Which is a bit outside the scope of our country its mining is now time consuming.

If we start to dig out projects then there are many more fails like this and it's natural to see them coming. In many companies the reason could be bad work culture, improper management of the project path or sometimes it could be the greedy founder who just flee away without second thought about the projects. Sometimes its only about the money. Once the good level has reached they will just show spurious accounting data, showcase the company is failure and file for the bankruptcy which is legal way to tell people that they can't give back what was promised. Thus insuring their sum of money and still making the profits. In fact they also end up having more money since they are already in the profits. So yes, lesson is already there since long time now

I think the direction of the investment is very appropriate if the choice is Bitcoin and ignores new altcoins which are very unimportant to look at. But losses still exist because things are triggered by bad and sluggish markets due to several external factors. An example is the case with Ftx, war, and also unstable economic growth in several countries. So that's what causes the market not to move quickly because some investors are still panicking and are also still afraid to enter the market as a whole as usual.

Lessons for problems like this actually exist, and can be used as a good experience for the future, because with the many bad things that happened in the past year, some people think of taking profits as soon as possible, even if they are small, and enter the market as quickly as possible to buy when they see important assets like Bitcoin are in low price.

On the other hand that's the good impact of these lessons. People who have been keeping their money on exchanges, they're starting to question themselves, relatives and friends that has an idea of the on going situation of the market and that is if their funds are safe on exchanges.
Well, if they'll just going to take a look at the situation, they should have the idea it's never been safe there and coming up with the incident of FTX and other exchanges that have fallen due to hacks, they should take the hint of it that their money is never safe kept on any exchange.

There may have been a lot of big things that happened before, but we didn't pay much attention to cryptocurrencies at that time. There are not many encrypted fans, and many news are only known to people in the encrypted market. People outside the encrypted market will not express any opinions even if they see it. Now more and more people are entering the cryptocurrency market. Anything in the market attracts attention. In 2023 there will be other people and new projects entering the crypto market. What we can do is to increase our vigilance and observe the project team and background more for new projects. Don't put all your money in the crypto market.

Lucky on you that you haven't stored bitcoin in exchange, but we just really easily trusted those people who we thought trusted. The biggest lesson really is that if you don't have the private key, it means it is not yours. After the incident, most of my online friends transferred their funds into my hardware wallet for safer keeping. I hope people really learned from this incident and try not to make the same mistake again. Though I was not affected by those accidents, I learned a valuable lesson from them.

Investors are trying to get the best of both worlds, they want the profits this market can offer as they are much higher than what they can get in other markets, but at the same time they do not want to accept the responsibility of being their own banks and they are delegating this responsibility to centralized exchanges.

But such an arrangement is never going to work and we have seen ample evidence of this being the case during the previous year, with this in mind it is important that investors take responsibility for their actions and learn how to store and protect their coins on their own.

Yeah I guess my main lesson here is to keep doing what I am doing.  I have been lucky enough to fall in with the right group of people who've taught me how to properly store bitcoin, first and foremost, what's worth "investing" in when it comes to different types of cryptocurrencies and so on.  I don't store bitcoin on exchanges, I don't leave much of any on hot wallets etc. 

The FTX was the biggest lesson of all.  I had so many friends texting me asking "is my money safe on Coinbase".. smh.

I still remember this sad events. I remember them because it affected me on a personal level. Well, the biggest lessons which I learned from everything was that no one of these companies are truly immune to these ills. Second, no matter the credentials of the founder, never trust any one of them. They are all after one thing to get your money and give it to the whales. Third, you have to stay very current with the news and happenings in the crypto space so that as soon as you get any signal, you are out before the house burns down.

I think 2022 is year crypto will never forget, these guys were all once billionaires through Altcoins but today have nothing to show for because of their greed and glad it wasn't bitcoin, despite involving bitcoin in their empire and affected its price, bitcoin remain stronger and unique and all their shitcoins are dead, this is the reason why bitcoin remain the number one digital currency I value more than any other digital currencies.

I observed that people who hold this Altcoins don't learn their lessons despite all theoney they have lost through these guys, I hope we all learn this lesson when the next bullrun begins next year, always stick to bitcoin as investment for safety and good state of health.

One of the worst or could be the worst over the years on crypto space then these things arent something new.We've seen bad things in the past too but eventually the market had moved on
and people who do engage to it and rather it do reach out peak or heights that we didnt even encounter or expected for it to be touched up.

This do simply signifies that market is truly unpredictable and there's no way that we could determine on where it would be going.It might be bad situation as of this moment
but on a snap it could really make out that sudden u-turn which these are common probabilities.

With so many happenings in 2022, it was one of the worst years for bitcoin and the crypto market, and you didn't learn anything there? I really didn't expect it, and you think it's normal, including the FTX incident? which even hurt users and lost the trust of most people to keep investing in the bitcoin and crypto market.
What I learned there is that most people worship and use centralized exchanges which in the end are scammers who steal your money, the importance of reading, the importance of analyzing an exchange that will be used as a tool for your crypto exchange and save. And most Altcoins may be potentially bad like FTX or Luna, so be careful. and in 2022 strengthen my view that Bitcoin is indeed the only one I must buy.

Of course, the opportunities in the past that you missed are now coming your way and right before your eyes, if we missed them this time maybe we should wait quite a bit longer and wait for the cold market moment like today. Maybe history for you because it will not repeat the same mistakes as in 2018-2019.
 
Thank you for reminding me, it turns out that I missed a lot of events for 2022, I hope 2022 will be an important lesson for us to sort out and make wise decisions in investing in the crypto market in the future.

Of the several scammers mentioned, I only know DoKwon and SBF rogues, maybe I'm not up to date LOL.
FTX became a drama that made an impression and became an event that really, really hurt a lot of people—being the largest after Mt.Gox.

Terra LUNA also gave their investors a lot of losses, instead of making a stable stablecoin, but in fact, the UST also collapsed and Do Kwon is currently a fugitive, while the bastard SBF has been caught and will be brought to justice.

In fact, there are many lessons that can be drawn from these incidents. We can't avoid some projects that are initially promising and become top projects, even in the top 10 of CMC, but end up being trash projects that harm many people.

That makes it undetectable, now all investors are more vigilant and don't keep their money in CEX because their trust has been lost with the FTX collapse incident which used their customers' money for research purposes and eventually went bankrupt.

because of the collapse of ftx, and also the drop in the price of tera Luna, I have suffered a loss. but from my experience it makes me more careful in investing so if investing in altcoins I think ethereum is very suitable to be used as an investment vehicle because there are so many enthusiasts and adopters of ethereum. I'm sure the tragedy will make investors switch to quality altcoins like ethereum. but still number one is definitely bitcoin which is worthy of being used as an investment vehicle.The lessons we take from my experience are: in the future I will be more careful in investing. don't fall for the second time.

The lesson we can take is that we must be careful when we invest because if we invest carelessly it will certainly have fatal consequences, namely the risk of loss will be greater. so as most people say in this forum many people suggest investing in bitcoin better, because indeed in bitcoin it will definitely be safer, even if the price goes down it certainly won't be like an altcoin which of course if it goes down can go to 0. for bitcoin of course if it goes down will not be possible until the price becomes 0.

I disagree, this cEX are brought down by the bear market and mismanagement of the fund. Most of the got bankrupt because they failed to visualize the upcoming bear market and did not prepare for it.  It is always a cycle that after the ATH, Bitcoin will have a long time duration of correction called bear market that make the price of almost everything to dip or crash.  And many of these centralized company are victim of circumstances unless the CEO purposely misapproriates funds for his own benefits.

Anyway, a simple lesson learned from these event, never trust centralized company especially their token.  If profit is seen or target price is achieved, cash out and never look back,  learn self-custody and how to secure it.

This is one of the things we need to out into consideration before trying to invest in altcoins or project that obviously looks shaky. Many of these project are good project that we never knew it would crash like that but sometimes things happens so fast that we might not have the opportunity to withdraw our funds. This is crypto market and we need to be very observant whenever we are taking decision and for me, it will be better to diversify our investment into different portfolio that to cast Everytime in one project with the aim that will are going to become a millionaire very soon.

I have my disappointment towards the year of 2022 but that doesn't mean that I have to have rage towards it.

Those things have happened already and that's there no matter what happens, the situation will never change.

It's anticipated that we'll see the market turning from bullish to bearish because that's how it used to be. But this time, too many turmoil and companies have fallen at the same time and made their share to the bear market.

If BTC didn't drop too much I think it won't also trigger a collapse for some of those companies. The collapse of BTC alone already cause a panic. People are selling and withdrawing their money. This should affected those crypto companies badly and then the panic got even worse. It then causes a domino effect to other crypto companies.

The biggest lesson that people learned this year is to not put so much trust in centralize platforms because they may have a trouble of withdrawing their money once the company experience some issue and it could lead to loss of funds if the company got bankrupt. Other than that, is to stay strong and have faith on cryptos. The storm will soon pass.

In fact, in 2022 this is an opportunity for all of us to be able to add crypto investment assets, where at prices that are relatively low like this, you can take more crypto and the profits when the bull market will be bigger too.
If in 2023 the market conditions are still the same, we must endure and be patient. You can be sure that in a not long time the market will experience a revival and all cryptocurrency assets will experience a significant increase in price.
It's not easy for a registered coin to just disappear. Basically every coin has big investors and they can definitely survive a bear market phase like this.

Taking lessons is very important not to repeat the same mistakes in the future, I experienced sadness when Bitcoin in my portfolio experienced a very significant price drop, even though in crypto there is a saying when you don't sell it, you don't lose, but still make it stressed.
And my losses on FTX and Luna, even though they're only a small part of my portfolio, are still intolerable. Since then I started investing less in Altcoins and moving my Bitcoin assets from a centralized exchange to a decentralized exchange planned for the long term.

This year has been tiring but must continue to collect Bitcoins for a better future.

I'm not convinced many have learned any lessons from these incidents. I personally wasn't effected by any of these, unless you count the price of Bitcoin taking a hit due to them. However, even then I'm not that bothered by the current price of Bitcoin. However, most people don't learn from the very first couple of incidents, and most people don't put the effort into learning about how to mitigate these issues.

For example, we'll still see a ton of people in the future losing money because they have their Bitcoin on a centralised exchange. Despite there being several largely talked about events that have stolen or lost several million pounds worth of Bitcoin.

What can we do even take a lesson from past history? Maximum we can secure our holding but we can't secure our holding value anyway. Whatever the reason if the market crashed ultimately we are losing value and we don't know when will it recover. However, we learned that funds aren't should organize into a centralized exchange anyway even if we lose token value. That's what is in our hands to control. However, we learned a lot of things from this incident and we have to be more careful about our funds.

I know about Caroline and Wang pleading guilty to the accusation but you said "Sam will plead guilty on January 3" are you a time traveler how come you know what he's going to do when he recently (today) cashes out $684,000 while he is under house arrest. Do you think someone that's doing this is ready to plead guilty?
Having said that, anyone that thinks CZ was the one that harmed FTX definitely doesn't know the beginning of the story.


People in the cryptocurrency market we're today don't learn easily, their trust in influencer people is a major disease and this is the reason why we see some scammer turning Elon Musk tweet into crypto and naive investor will still buy it.

In 2022 There are many things we can learn in the crypto world, although many events that occur are not to our liking but from there we can draw a conclusion that for the coming year we must be careful of every decision we make, this year there are many losses that we experience and only some people who get luck is not too big as expected, If this situation continues in 2023 then there will be many coins that will be lost on each of their platforms and currently they can only stand still to wait for the market to quickly increase again in every coin price, especially Bitcoin.

Caroline and the FTX co-founder have also pleaded guilty, and in a recent report, Sam will plead guilty on January 3. It's funny when everything is so clear that there are still people who think that CZ is the one who harmed FTX. If FTX really has 10 billion USD in reserve, then CZ's sale of 500 million FTT is just the salt in the pool, and will not affect FTX too much.



Before FTX crashed, we had Mt.gox, we should have learned from that and deposited money in exchange, like a deposit in the bank, they are not our money. "not your keys, not your property" this saying was spread long before FTX was created.

There's too much room for anger, but what does that mean?
I'm grateful because in 2022 I didn't lose anything and wasn't involved because of the projects above, but of course I feel the impact.

To this day I've had an impact on overall asset depreciation where it's almost 20%, but really that's a dynamic that really has to be in every industry. There are enough lessons to be learned during 2022, we don't expect regrets at the end so this needs to be an experience. Returning to our respective goals, we may need to take advantage of this situation to remain optimistic for the future. The storm will stop, we can expect a brighter sunrise afterwards. It's only a matter of time.

Probably. I'm looking forward to that day. Meanwhile, another huge centralized exchange has fallen almost a decade after the largest centralized exchange has collapsed. Billions are lost in the process. And it's not even that cases of falling centralized exchanges are isolated. Between Mt. Gox and FTX, there were already countless of centralized exchanges that died. But since crypto awareness around the world is still low even at this point, I'm expecting that there will still be huge incidents like these that would happen in the next decades. So, lessons regarding centralized exchanges might take a long time to sink in. I just hope that nobody had fallen victim twice in the collapse of Mt. Gox, Cryptopia, QuadrigaCX, Livecoin, and countless others, or else we haven't really learned a lesson.

from all that incident I have taken a lesson, that bitcoin remains the most superior. because if we invest in bitcoin, of course it will be safe compared to altcoins. but yes, everything has happened, hopefully it will be an example for the future so that we are more careful in investing. but we also need to know that we must be aware that investing in crypto is indeed a risk.

And the list would be even longer if we added to the list all the coins that have disappeared since the first altcoin was created.

However I think it is possible that in the future the number of successful scams could go down, this is similar to the early days of the internet in which scams like the advance-fee scam were relatively new and people fell for it, but now decades later almost no one falls for it as everyone knows it is a scam, so while it will take a long time for this to become the norm it seems to me we could eventually reach that day.

The list is actually much longer than this. The amount lost within this year alone is in several billions. There are lessons along with them, surely, but will we ever learn them? I'm afraid not. The history of crypto, although relatively short, is already full of hacks, bankruptcies, rug pulls, scams, and the like. But has the environment changed according to the lessons learned from all those unfortunate incidents? I don't think so. Has behavior toward altcoins, centralized exchanges, DeFi platforms, and others changed? Not really.

In essence, we must always be careful when investing and think carefully. even though 2022 is a year full of bear markets, we still have to have good prejudices for the future.

I think these scammers do ultimately serve a noble goal.

Even if they do not realize it, they are teaching people the importance of not giving your Bitcoin away to third party holders, especially centralized ones. The lessons learned are quite expensive. They cost you everything. But in the end, you will learn to never let your Bitcoin out of your own wallet and you will learn to not give your wallet access to someone else. Each of these scams has one thing in common: The coins were not in the wallets of the people to whom they belong. They were in the hands of someone else.

But nobody should feel ashamed for having to learn these lessons the hard and expensive way. It is part of the journey to becoming a hodler.

 

I don't think CZ sold all his FTT tokens because it provided an official letter he wrote to all the Binance workers about keeping their FTT bags. Although, the CZ tweet may trigger the massive liquidation of the FTT token. However, the major cause of it and the bankruptcy of FTX are SBF the mastermind, and Caroline which expose the situation at the wrong time.


Even if the situation that happened this year didn't happen. It's a childish idea to entrust one's investment to a stranger we only see as an influencer online and it is always good to entrust our investment to ourselves because no one knows us more than ourselves.

Centralised services will be prioritising fame and money than anything else. For this reason when we use an exchange we should know the limitations as well as try the maximum to keep our funds on custodial wallets than holding it on Exchanges. Because, we don't know what happens next. In no time things change completely and lost is lost.

I learned that no centralized services should be fully trusted.  If we wanted to invest, invest on Bitcoin, buy it and never keep it on exchanges.  Investing on centralized services and give 100% trust on them is another way of wasting money because sooner or later this centralized services will file bankruptcy.

It was really a big lost for the crypto market this year,this is the problem of exchanges because they are centralized, they link up to one another and depend on each other,they will declare their assets to give you confidence in them but that is a big lie,they just declared the assets of two or three exchanges including their's which makes it scam. This why you see that if one of the big exchange crashes, it will affect some exchanges that are in business with the big exchange. FTX crash and it affected Block.fi due to their investment in FTX. Thank God with all these challenges btc stood and conquered, just only the price went so dip.

This year so many disasters have happened apart from the bitcoin crash that so many people feel this is the wrong state of affairs.
But on the other hand, there is actually no need to blame this and the lessons that can be taken are of course quite a lot like having to be more careful when in crypto because looking at some of the cases you mentioned, no matter how strong the platform or exchange, an incident like this can always happen it just happened and as for the bitcoin context, buying is something that must still be done, not selling in the midst of unfavorable conditions.

Expect the unexpected
Dont risk on the money you cant afford to lose
Not your keys, not your funds/money
Dont let yourself drag with some Hype or Fuds

If you do have these then these moments cant really make you budged on your investment goals or targets.
Yes it might be sounding simple but its hard to be done since we are just humans which are really that emotional and its impossible
that we wont really be feeling off some fear and hesitance.

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.

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.

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.
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.

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.  
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.

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.


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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

1. Shitcoin doesn't have any effect to Bitcoin.

2 and 3 are just small company that operated in their own region, doesn't affect anything.

4, 7 and 8 are ponzi scheme company, they're accept many coins, not only Bitcoin, so less or nothing effect to Bitcoin.

6 is just an exchange, we have so many exchange that accept Bitcoin, so losing 1 centralized exchange doesn't mean anyone can't trade using exchange.

5 and 9 are bankrupt because of Bitcoin price is always decrease, which mean Bitcoin price make mining company shutdown, not mining company bankrupt affect Bitcoin price.

It's better if you use your logic first.

If you have been in financial markets long enough and have read about the history of financial markets, the collapse of companies or projects is nothing new, even for traditional markets, the same thing happens.

Regardless of the market, as an investment, there will always be risks, so the lesson here I want to tell you is that when you accept an investment, you must take into account the risks that you will face, not only think about profit.

I've never been angry with what's going on in the market, if we want to be successful, we want to be bigger, and we need to make trade-offs.

Every year there must be a lesson for bitcoin or crypto and this happens throughout the journey of bitcoin, maybe this year the lesson is different and everything will be a lesson because nothing is perfect.
I believe that more and more problems that occur in this industry will make bitcoin stronger and continue to grow and develop, because this will make the name bitcoin more widely known which will make many people curious about bitcoin or other cryptocurrencies.
let alone the impact of the FTX issue, indeed everyone or investors feel it, but it all happened and we can only take lessons from what happened and as long as our goals for the long term are not a problem, this is actually our opportunity to raise more holdings funds to hold it in the long run and this is a very valuable lesson as well as an opportunity.

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.

Yes, it has nothing to do with bitcoin, on the other hand we are the victim of this collapse specially the last one, FTX. Bitcoin was doing good that time, hovering above $20k when suddenly this news broke out and then we go on another lowest lows.

Of course the obvious lessons, "not your keys, not your coins", adage, do not leave your precious crypto to any crypto exchanges otherwise you will be the another victim, another statistics if it collapses because of mismanagement or collapse of the system.

Move it to Altcoin Discussion board because these collapses are not because of Bitcoin. They are entities that over leveraged with altcoins, shitcoins. They were rekted by shit coins, not by Bitcoin.

Did you see MicroStrategy were rekted by Bitcoin yet? Not yet.

Lessons learned by me from their collapses. I am more careful with altcoins and trying to use more % of my capital for Bitcoin.

I appreciate the highlight on that article!. I had almost forgot about what happened to Tornado Cash.
Nonetheless, the lesson we can learn from this is different from the situation on the privacy coins. The fact privacy coins are getting their liquidity and acceptance attacked for obvious reasons, it is an "old" precedent, it has been going on since 2020 with the delisting of DASH, Zcash and Monero on somw exchanges and also the reward the United States government offered to anyone able to develop tools to track monero transactions.

The Tornado cash drama, on the other hand, can teach us one can get arrested and charged by developing software aiming to improve privacy, which sound very dystopic. Or was that guy charged for any other crimes?

The year 2022 will go down in history as an infamous chapter for Bitcoin.  In the year 2022, the Cryptocurrency and Bitcoin market saw many unexpected scandals, data leaks and hacks, bankruptcies, which affected Bitcoin in various ways and forced it to come down to where it is today.


FTX crashed and Alameda Research: Over $40 b
Luna/UST crashed : $40b
3AC(3 Arrow Capital): $18b
Genesis Bankruptcy: $5b
Celsius: $4.5b
BlockFi: $4.5b
Voyager: $3.75
Ronin bridge Hack: $600M
WormHole Hack: $320M
Nomad bridge Hack: $190M
Beanstalk Farm Hack: $180M
Wintermute Hack: $160M
Mango Exploit: $115-120M
Core Scientific mining company Bankruptcy: update to next.

---

My previous post about it:

https://bitcointalksearch.org/topic/m.61429305
https://bitcointalksearch.org/topic/m.61480078

What we've come across the year is simply unexpected. Similar incidents have happened in the past, but the impact isn't that high as now. The growth of cryptocurrency and the increasing adoption have caused massive crash in the market. Same time the economic situation around the world at its worst makes things go even worse. To make a recovery it takes time, as the upcoming bullish move is predicted to be close to halving scheduled for 2024.

More and more things learnt from the year 2022. Beyond all these issues, the best learning is to trust bitcoin than any other altcoins.

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.

Lesson learned. This year 2022, I experience a lot of tragedies especially these bankruptcies that happened on the market. I was really affected by Terra Luna and FTX Exchange.
I learned a lot of lessons especially about taking profits if you are trading or investing with a goal.
It seems these entities went bankrupt is part of the bear market, it's part of the cycle where the market corrects, there are some entities that are affected but not all, and some of here are indeed misused of funds and intended to fraud the people.

There is no reason to feel rage, specially towards the market. 
Any authentic holder which signed up for this ride knew exactly what to expect and the cyclical nature of this economy, on the other hand, I agree there is much yet to learn (besides what we have learnt this year). Many say this is a game of fear and greed and I mostly agree with it.

I learnt that does not matter how strong and stable a platform looks, one should never leave one's coins there, in consequence I reduced by exposition to centralized exchanges.
I also confirmed that those services which offered interests on one's Bitcoin (Blockfi and Celcius) were nothing but a ticking bomb.

I hope you did not suffered much losses and can let go your "rage" in a constructive and healthy way.

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

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)

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

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

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)

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

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

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

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

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