Topic: If not for Bitcoin (Read 696 times)

If not for bitcoin, things wouldn't have been this better for some of us here today, we have already for a long time overdue for using the financial system with centralized institutions and government, bitcoin has made us know the possibility for a decentralized digital network, give everyone the financial freedom they deserve and considers the people most for an independent financial economy lifestyle.

It is not really that difficult to see why the confidence in bitcoin did not decreased at all during all of those events, and that is because those collapses had nothing to do with bitcoin, other than those businesses dealing with cryptocurrencies in general, bitcoin had nothing to do with it, however this is often a mistake I see people making, they make the false equivalence in their minds that bitcoin is somehow related to every single entity that is part of this market and it should be affected by them, when this is not the case as bitcoin is its own entity and it is independent from them.

Theres no doubt that Bitcoin is the best cryptocurrency out there. The things you talk about? Just examples of how strong it is. I get your point, though. People are so greedy that they often miss the big picture. They become naive and believe that everything shiny in the crypto world is a prize when most of it is just noise. Many people jump right into altcoins and centralized platforms because they think they can make quick money, but they dont know what problems they'll face.

Still, Bitcoin stands tall in the middle of all this chaos, doesnt it? Noobs like these have to learn the hard way. Its sad, yes, but maybe its essential. Would people really know how valuable something is if they found it on their first try? When you go through problems and lose, thats when Bitcoin's real value comes through

Bitcoin stands as a formidable force in the financial realm today. It serves as an alternative opportunity and, despite varying opinions, its resilience endures. This means that major investors won't allow adverse developments to easily beset Bitcoin.

We understand that the very heartbeat of the crypto industry presently pulsates through Bitcoin. When Bitcoin falters, everything connected to the world of crypto loses its significance. To truly dismantle Bitcoin's presence, there would need to be several altcoins tested for their strength. Anyone who can disrupt altcoins is not necessarily capable of undermining Bitcoin, and someone capable of undermining Bitcoin can potentially destabilize the entire crypto industry, excluding Central Bank Digital Currencies (CBDCs), which remain under government control.

Investors lose the most money and gain money in crypto but they don't give up hope. Investors basically put the most hope on Bitcoin and they hold it for a long time to get results later. If investors had faith in the crypto industry, of course crypto currencies would have been destroyed, but Bitcoin is where it is today because investors have faith. We saw the biggest increase in Bitcoin price in 2021 and investors made a lot of money then. Even though currently Bitcoin's core is down but still investors have faith in Bitcoin Bitcoin will reach a good position again and traders will benefit. Currently the Bitcoin market has taken a strong shape and with the new green candle in the market, we can be sure that good things are waiting for us ahead. If Bitcoin wasn't born then maybe we wouldn't be related to this crypto world, since it was created and it will last a lifetime so we would be better off using this Bitcoin.

This is because Bitcoin is the only reliable project in the crypto market. We can't compare its potential to others that is why we call this unique which makes it very popular and famous. Indeed, it was stress-free if were going to manage well our emotions.

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Those things that happened in the past as mentioned by OP give us insights that only those projects that have a solid foundation will remain while these worthless and weak foundations will collapse. Probably, if there is no Bitcoin, the entire crypto market has already been over.

These company's bankruptcy does not show proof of Bitcoin improvement.  This simply show that centralized cryptocurrency services can also collapse if the management does not manage the company well.


These company also integrate Bitcoin in their services and yet they failed.  This is not about Bitcoin and altcoin but company that have poor management system the lead them to bankruptcy and collapse, while other practiced fraud and was exposed.

If one have to realize something, it should be not trusting 3rd party investment company to hold your fund, instead if one is into Bitcoin investment then the best approach is buy and hold Bitcoin in our non-custodial wallet where we hold the private key.

Of course, these events showed people the proof of bitcoin's improvement and convinced them that nothing but bitcoin is trustworthy. But this thing is not for everyone; still, many people are not aware of it and face losing, like in recent events. But in fact, it is their own fault that when they enter the field of cryptocurrency, they think that only money and money are here, and in their greed for money, they leave the real thing, which is bitcoin, and pick up poor things in comparison to bitcoin. The things they pick up are altcoin, centralized exchanges (keep his fund on them), and buying shitcoin, due to which they have to suffer. But this loss is a good lesson for them not to make the same mistakes on centralized exchanges and altcoins as against Bitcoin.

I believe that if there were no similar events, no one would have realized the importance of Bitcoin, which is for newbies. They forget because they make money from altcoins like QuickPumpDump that there is another better thing than altcoin, which is Bitcoin, which doesn't have these flaws that these shitcoins have.

I mean just because it doesn't get hacked doesn't mean that it is perfect, we could always improve something. We do not have to improve it like crazy, but we could improve it. This means that it is going to take a lot of time for bitcoin to be perfect and in fact I think it will never be perfect, we are going to end up with something that will change things. We should be careful about what we are doing and based on that we could potentially do a lot better or worse.

We need to arrange it in a way that it could help with us a lot more. Sure, it is better than the rest, I am not arguing against that, yes it is the best but just because it is the best and I do not think that it will change anytime soon, it is going to be pretty similar if it doesn't keep on improving. I believe that we need to get bitcoin to be better.

Lower transaction fees, and faster transaction speeds, what does that mean? Have you ever heard of bitcoin's blockchain being hacked or experiencing a power outage? But that often happens with blockchains that you think are superior to bitcoin.

Decentralization is the deciding factor in the quality and value of cryptocurrencies. If altcoins don't have them, they're nothing more than a pile of garbage created for purposes other than bringing us real solutions. As I see it, altcoins are just used for hype and pump and dump rather than actually providing truly useful utilities like bitcoin.

That's the best approach when you're simply holding your Bitcoin; you need a lot of patience to resist the temptation to sell. I've personally experienced that in the past. I sold my Bitcoin when the market was in a panic during my first bull run experience back in 2017. I thought the market would keep going up, so I didn't try to sell. I became more ambitious and greedy because I was holding without a specific target for when to sell my Bitcoin.

After that experience, it made me realize that the market is bound to grow. It may not be as stable as other investments due to its high volatility, but if we look at the bigger picture, it's easy to convince ourselves that we're heading in an upward direction.

I completely agree with you on this, we are here to make profits, but I don't understand why people always say stay away from altcoins and only invest in bitcoin, while not all altcoins are scams, there are many projects that still offer good returns.  as long as we know what we are doing with our money, we can invest anywhere.  if we want high profits, we must accept big risks, everything is proportional to each other. We are here to make a profit, not to prove who is right and who is wrong.

Just remember one thing.... Centralized services are not Bitcoin.... these are profiteers of this technology and they could care less about it. Yes, it is convenient to use these services... and they helped a lot as an on-ramp for Bitcoin adoption, but that is the only advantage of having them.

They are huge honeypots for hackers and corrupt insiders to loot and the scandal that follow their collapse, influence everyone that are using this technology. 

From what has happened since the past there should be nothing to be afraid of or doubt about Bitcoin anymore, many storms have passed and Bitcoin is growing and growing, not only the price but also many people's trust in Bitcoin and even as time goes by Bitcoin's popularity is increasing with the amount of positive news and movements carried out to stimulate it, making many people know and believe in Bitcoin.

The risk will always be proportional to the possible gain, and we are here to make a profit so that is very natural.
However, what happened to Bitcoin in the past makes me believe that the risk we face is time and ourselves to remain patient no matter what the conditions are because Bitcoin has a big enough opportunity to grow at any time even though it is in a difficult situation.

Anything created after Bitcoin may and probably will collapse, but Bitcoin will endure. Let us remember that. Bitcoin has weathered tough times on numerous occasions, yet it's still alive and kicking. I mean, look at the current price and how the market is moving; it remains relatively stable. One of the reasons for this stability is the trust of investors. We're actually seeing growth in numbers, especially now that we're likely heading into a new bull run.

Trust in Bitcoin and nothing else. You can invest in altcoins or any projects, but ensure that the majority of your investment is in Bitcoin. While some say it's quite risky due to its volatility, aren't we here to earn bigger returns? We're in a high-risk, high-profit situation, and we should embrace that.

Altcoins do not lack the decentralized element, but instead they have removed the decentralized feature in exchange for speed and cheap fees. That was their choice and used them to advertise that they were better than bitcoin in every way but they failed because people need privacy, need decentralization. No one needs speed and cheap fees without being safe and controlled. That is why with thousands of altcoins created so far, there is still no altcoin that can replace bitcoin.

When the price of bitcoin falls, all altcoins will also fall, so it cannot be said that bitcoin's dominance is decreasing. If you check the chart over the past few months, bitcoin's dominance rate has sometimes exceeded 51%, which shows that bitcoin's dominance is eternal.

The rutile is definitely one way to put it and it goes with well enough specifics on what is the case with an individual, an investor, having to be in the cryptospace and not own a single Satoshi, the very coin that has preserved the space. Just how are people doing that because, I see it as a must get some.

I practically get scared with altcoins, not because of the many noises that goes around on how they are scammers coins but, out of experience, altcoins have never favored me and I mean, never.

I find myself questioning in my decision and it’s not just worth the stress. A few users might make it huge from altcoins but, good luck with that.

Which is why apart from being a day trader, I also make sure that I have sufficient bitcoin holdings to keep me safe during rainy seasons. It's bad enough that the market can just go under whenever it so pleases, so having a consistent and surefire earning asset like bitcoin in your portfolio takes the stress off of you cause now, you're pretty much aware and at ease knowing that come rain or shine, you'll earn money from bitcoin. I'm just hoping it continues to serve people for longer cause I want everyone in the crypto industry from now until say, 20 years in the future to at least experience what it was like getting bitcoins for the first time and expecting to earn shitloads of money. It's one of the greatest feelings out there.

Bitcoin certainly played a pivotal role in establishing the cryptocurrency industry, and it continues to be a major player in the market. Its creation introduced the concept of blockchain technology and decentralized digital currencies. However, it's important to note that while Bitcoin is a foundational cryptocurrency, the industry has evolved and diversified with the emergence of various altcoins and blockchain projects.

I agree the “halvining” is certainly a big deal for bitcoin and adds a very important feature to it that helps separate it from other cryptocurrencies as well as traditional currencies, but I don’t think this is really the main reason why bitcoin is still at such a high value comparatively to where it could be (much worse off). I honestly think the hopes and dreams of btc become much more valuable is sadly a much bigger reason why btc is where it is.

My understanding is that when Bitcoin was created and its value gradually increased in the market, as time passed, many investors continued to believe and invest in it. And as time passed, its popularity continued to increase.

And the name of Bitcoin rang even more when the altcoins that became clones of Bitcoin came out, which caused BTC's dominance to accelerate. And because of this, altcoins have helped increase the belief of others about Bitcoin as well. Therefore altcoins won't be created without Bitcoin.

The fact is that even if the price of Bitcoin was 5000, he was and will be more alive than all the living. The fact is that its blockchain is old and slow, as the situation with the ordinals flow showed, but Bitcoin is immortal. Even if its use does not become widespread, it has been and will remain a speculative tool that investors will never abandon. Institutions and banks have mastered how to make money on it by manipulating the price, and they will never give up such an instrument.

New blockchains are offering better features than bitcoin. Some of them even have lower but faster transaction cost. They are lacking one essential elements which is decentralization. Most other blockchains are centralized or semi centralized so their price can not create much appeal for investors to put money into them. Bitcoin dominance is not content. It also goes ups and downs like bitcoins price so we can not say bitcoin dominance will never go down.

People invest in Bitcoin is here because of Bitcoin. People gamble here with altcoins only because of altcoins, they are not here because of Bitcoin and if they leave, it's because of their losses with scam altcoins.

They have pumps without Bitcoin because they are centralized projects with most of circulating supply is in their founders or developer teams. It's easily to manipulate those altcoin market with centralized token distribution. In a Bitcoin bull run, cryptocurrency market gets more attention and many newbies will join it but unfortunately they choose altcoins to gamble, not choose Bitcoin to invest.

A throne indeed, Bitcoin has certainly set a standard for itself out there in the crypto space and many people are still in the crypto space because of the reliability of Bitcoin. Although most of these altcoins are shitcoins but there is still a fact that we can't deny About some of these coins and that is the ability of some of these coins to also pump very high along with Bitcoin during the bull run and if you lucky to purchase the right coins you can also make lots of cash from their pump although it's very risky because the same way they pump so fast that equivalently the same way they dump so fast too.

This has been very proven in Bitcoin with its continued dominance in the market so that until now there has not been any altcoin that has been able to beat Bitcoin because basically there is no altcoin that has superior features than Bitcoin. And it seems that many people have realized that Bitcoin will indeed continue to be king in the cryptocurrency industry because others have not been able to compete with Bitcoin apart from only being able to pump and dump after being created by their own developers.

I believe everyone realizes the importance of bitcoin, there is no one who does not know about it. But greed made them rush into altcoins, centralized exchanges, and forget about bitcoin. I bet you that even if there are more altcoins crashing, people will quickly forget about it and continue to invest in altcoins instead of bitcoin. As long as people cannot control their greed, there will always be people investing in altcoins and altcoin projects will continuously be created.

Wow, things have changed a lot. I remember when altcoins were huge and everyone thought they would take Bitcoin's place. But, as you said, Bitcoin has always been the more likely choice in the market. I've often thought about what the crypto world would be like if the roles were switched. When businesses try to make money off of any tokenized product, its kind of like the wild west of finance, right? But thank goodness we learn from every scam and accident. Its called evolution, man. Not so with centralised services, though. Those are very different. Always keep an eye out for danger and learn from the past.

Bitcoin's dominance in the market will never go away as it is the only decentralized currency with the best security. Bitcoin's dominance will only be shaken or replaced unless there is a coin with superior features to bitcoin. Otherwise, bitcoin will forever be the king of the cryptocurrency industry. As for current altcoins, they are a centralized mess, and were created for the purpose of pumping and dumping, they do not bring any practical utility or application to us. None of them are qualified to challenge bitcoin's throne.

Through this incident most of the people who are hard believers of altcoins and focusing much on altcoins for higher profit could've understood the reality of the market. If bitcoin is dependent over altcoins, now this could've been a collapse, but the reality is completely market depends over bitcoin which had kept the market progressive amidst the occurrence of more failures.

Once we had a situation where anything tokenised used to bring good revenue to the venture capitalists as well as the users invested on it. Within specific time period the project goes unlisted. From that situation things improved and now other forms of fraud happening through centralized services. Users have got more opportunities to correct themselves and now it is a big learning.

Financial suicide has nothing to do with ending your own life, and I don't think that's what Kara3 was getting at there.  But I think you're both wrong anyway.  You're not ruining your finances if you don't hold bitcoin; many people around the world don't, and they're doing just fine.  I'd love to see Kara3 look Warren Buffett in the face and tell him that line:  "Mr. Buffet, if you don't own bitcoin it's financial suicide!".  He'd probably just chuckle and politely excuse himself as he would if some person with a crackpot stock strategy started extolling the wisdom of following said strategy. 

Note: I'm not saying being extremely pro-bitcoin is a crackpot position, just making a comparison in the specific case of a chat with Buffett.

All of these major incidents that you mentioned (3AC, Blockfi, Celsius, Voyager, Luna, and FTX ) are all centralized services that have nothing to do with Bitcoin in the first place. They are like parasitic organisms that had to be eliminated.

Although these incidents were painful and caused losses to many people, they had a positive aspect in that they made people realize the importance of Bitcoin and that it is the only coin that can be trusted. Therefore, I support your opinion on this point. If it were not for the existence of Bitcoin, the cryptocurrency industry would have collapsed completely.

Of course, I think bitcoin is the central point in cryptocurrencies. Around which all markets revolve (with some exceptions). Due to which traders gain the most focus and knowledge in the market on Bitcoin.If there was a possibility of bitcoin crashing like any other coin, then like you, we would not be able to gain knowledge about bitcoin.
And we've seen this happen with Bitcoin before. But later it returned to its original form. This is nothing new, bitcoin is not destroyed, it will rise again and surprise everyone.

And I have to agree with the fact that Bitcoin will now and forever dominate the cryptocurrency market and remain strong, as we know many previous events have disrupted Bitcoin and it is also predicted that someone will replace Bitcoin's position, but Bitcoin remains strong.
In the future, there may be more coins entering the market, but bitcoin will remain the main one and continue to dominate the market as its popularity and interest will continue to increase. And Bitcoin is the only blockchain-based cryptocurrency that has been built since its inception. In terms of market capitalization, Bitcoin is the highest market capitalization that cannot be replaced.

Luna is an independent crypto but I think when it collapsed it affected the market as a whole in a negative way. The trauma it caused is so big. This is why everyone still hates the people behind it. I think FTX has its own token or stable coin called FTT and maybe other companies in the list has it as well, but the ones that shake the market is their collapsing platform.

Storing cryptos inside them can earn some profit but it's not recommended since they are centralized. They can freeze, control, etc.. our money aside from the danger of getting hacked. If people want to hold for the long term, they should do it on a dedicated crypto wallet, preferably decentralized one.

I think Bitcoin occupies a very big place in this crypto world. Maybe if this happens one day, it means that later the crypto market will be much worse. But I don't think bitcoin will ever sit still. Because everyone is interested in investing in bitcoin and its past history shows that investing at the right time has been the reason for everyone's success. Again this may happen if one day Bitcoin goes down then the crypto market will be active. But since people are more interested in investing in Bitcoin, the market will be very tight. But it seems that it will gain a strong place in the future.

No matter how legit a coin is, as long as it's not Bitcoin you still can't be sure that you won't get scammed. There are many projects that are very promising and you don't expect them to collapse because you don't see anything negative about them. But what happened, the project collapsed. All I can say is that there are many projects like Bitcoin that are legit but because the future cannot be predicted, there is still a risk that it might disappear. So if you really want to avoid this kind of scenario, focus on Bitcoin.

Somehow Bitcoin already has a very solid foundation because its the first cryptocurrency and probably going to be the foundation of all of these projects, to be honest, if Bitcoin dies for sure these blockchain projects are going to die for sure since the main cryptocurrency Bitcoin die already, yes it might not be connected at some point but the fact that no one is going to trust Bitcoin for sure is going to hit other secondary projects which probably not going to happened this days considering how Bitcoin adapt already all over the globe.

For sure in this kind of investment there are always hype involved that's making it risky considering we do not really have any kind of tangible assets on cryptocurrency all of the market prices are just supply and demand meaning it just depend on pure speculation, in the coming years we might not see Bitcoin anymore or might not exist anymore, so these secondary projects  have higher risk because they are full of hype and speculations.

diversification is still advisable even in this market so as not to avoid total liquidation of your assets when one of your coins go down without a warning. and as we have seen, bitcoin remains its position, despite of all the setbacks the crypto market encountered throughout the years.
and as much as possible, diversity your portfolio outside the crypto market. it is better to have tangible assets that you can fall back into if all else fails in crypto market. we can never be sure in this market, even btc is not an exception for the possible collapse of this market.

Yeah cheers to bitcoiners and that is one reason bitcoin  has been referred to as the king of all other cryptocurrencies, maybe I'm not comparing bit I'm just saying that despite all the challenges bitcoin  has experienced,  it still stands strong even today unlike other coins that would have crashed.
Alot have happened already in the cryptocurrency industry and your captions speaks of the good of bitcoin and I see this post more of testimonials and I want to also qeue in to say that, if not for bitcoin,  I wouldn't have gotten all this knowledge i've gotten so far for free but all thanks to the forum and bitcoin.

To be on more safer one, never expects the very best from the market because they tend to make frustrated and disappointed. The market is volatile, this minute we watching the bullish candles pumping and next minutes we experienced a bearish candles that would changed our face to frowned ones. Bitcoin have aides some of these top investors in the space, making them top back to full position with there current stands in the market. From day one it has always been bitcoin, though I've invested in other alternative projects but I keep 100% concentration on bitcoin.

I've got the idea what you were talking about, but I like to stay on the safe side. That is the reason why I always choose Bitcoin. This is not something that I don't diversify my investment. I do it within the Bitcoin investment. The simple solution is DCA. To me, I call it diversification of my investment. I don't have any problem with other coins but just to be on the safe side I invest only on Bitcoin. Other people have other kind of opinion about this. That is the reason the market is still moving because there are people trading other coins. That's not my problem, they can do whatever they want. This is just my personal choice.

And I don't think it is totally based on sentiments. Some of the old coins that has been around for a while will most likely follow the trend of Bitcoin. It's not you and me, it's the people who connect the dot to create the sentiment. Most of the new coins or maybe some of the old coin could potentially move based on hype and trend. There could be sentiments involve in it, but it is most likely hype and trend.

So yes it is not always sentiments, but if you want to look at the major coins' movement they are most likely happening because of sentiments attached to Bitcoin. And yes Bitcoin is not the only investment that I do, I have other businesses too.

Of course, I also think that without Bitcoin, cryptocurrencies would collapse even more. But I think it won't. Because Bitcoin is a trusted asset. Everyone is more interested in investing in it than fearing its depletion. But of course it will never be fixed. There is no need to get excited about the situation when the market may change.This is due to the fact that the coins/tokens also fluctuate in price in the market and some tokens disappear from the market. But it does not mean that bitcoin will be exhausted. So we have to change our thinking. Because bitcoin is going to be stronger in the future.

There have been destabilizing events in the crypto market, both related to specific coins and to centralized platforms (wallets and exchanges). Confidence in Bitcoin sometimes decreased after such events, which can be seen in sudden decreases of the price. However, I agree that overall, enough confidence clearly remained to push through the bad times.
That being said, I just wanted to point out that similar things have happened with the traditional economy and fiat currencies. We've seen huge financial crimes committed by major banks, we've seen a lot of bankruptcies and many fiat currencies struggling with high inflation, and yet people continue putting their trust in the system. So maybe it's partially simply in our nature to stick to something, even if it's not perfect and occasionally fails us, because trying something different feels too risky. Of course, in part people are involved into the traditional system by force, it's really hard not to participate in it. But still, people could try to become more independent of it, and yet the majority doesn't try that.

If I remember correctly, luna's ATH is 120$ and compare it to the current price of 0.4$, do you see any value in it? I don't keep track and don't know how much it has increased but $0.40 is nothing compared to the price it once reached and creates a lot of false hope in people that it will increase further. Luna probably won't fall to zero but will never return to its ATH, but bitcoin will definitely recover and make a new, higher ATH. Therefore, bitcoin is always the safest and correct choice on the market, don't waste your time with projects that will scam you at any time.

Well, right now, the Luna in the market, according to the value it has, is around 0.4$ each. I'm not saying to invest here; I just want to show that it has increased, at least compared to the time when the SBF scandal was still fresh. Anyway, until now, Bitcoin has remained the top choice for long-term investment among other cryptos.

Just make sure that if you're going to hold Bitcoin, you put it in a cold wallet or hardware wallet, not in any exchange that is categorized as a centralized exchange, so that at least Bitcoin won't be disturbed. It's good to be careful. ..

Do you know that those who do store their funds or savings into exchange are likely to lose their funds because they aren't in control of their funds and to whatever that happens over there affects their savings generally.
If everyone applies carefulness and never compromised their keys or revealed it to people there is no way anyone will come mention about hack, collapse and whatsoever, it is the ignorance people around the crypto industry not to make their researches on what form exchange and cryptocurrencies they should invest on, as for bitcoin, I have a strong confidence and the lost in bitcoin is subjected to amount of patient you would exercise for the market to gain back another ATH then you will recover the lost.

Good advice. You are right that the creator of the topic is very greedy, thinking that if he managed to copy one piece of content that was not noticed, and he also received a lot of merits, then he could safely steal and copy it in the future. The OP was very wrong here.

https://bitcointalksearch.org/topic/m.62957994

Setting aside whether other cited events are valid, the fact that Bitcoin is still here perhaps due to the trust of its investors, makes it sustainable. Bitcoin is a good investment as long as you can manage the risk.All assets whoch are dependent with demand only needs to establish trust on its industry and Bitcoin managed to do so.The thing here is that a project is independent from one another and its failure just causes FOMO and negative impression but that depends on how an investor would manage the risk. Perhaps FTX’s issue, many investors doubted this industry in an instant, making assumptions that it is not safe. However, experienced investors remained calm and continued doing their thing.

It's bitcoin that gives other coins life and when looking at it you very well without bitcoin other cryptocurrencies won't have a value today, what I understand concerning bitcoin is that Bitcoin a cryptocurrency that gives value to other cryptocurrencies, but doesn't know, luna coins has being established long time but it's still struggling to meet up like other  altcoins that is have small live when bitcoin price is low, holding a coin for long time should not be altcoins but let it be bitcoin because it is a coin that have long stays and I know very well bitcoin have a strong volatility and it's not comparable with other coins

These projects are reinventing strategies so that they'll be trusted by the people. That's why the best thing is to be wary of any project whether they seem to be good or not. We will never know what's with their schemes whether they're new to us or not but then, in the end game of it it's always them that will win when they reveal the true them.

Right.
It's so hard to trust new projects today and that's why for everyone's sake, just invest to Bitcoin first and whether you want to try something new. Make it known to yourself that you're able to invest on it so that you won't make a mistake that you'll regret forever.

Cheers, becasue its decentralized, Cheers because its secure, Cheers because an immense community standing behind it, Cheers because Bitcoiners know everything about Bitcoin, Cheers because there's nothing hidden (Transparency), Cheers Becasue its characteristics, and properties can bring freedom, custody and evolution you always needed. Cheers, it can be your savior.

Cheers because it BTC & Cheers Satoshi did it, Cheers what you need he knew, and now Cheers because people are realizing.

Hmm, I think its enough motivational and answered, OP what you've studied will read you if you impose proper decision making and financial planning with it. Information can can your mindset and can boost your motivation as by such analysis you can be more confident on your decision. Use it as your key principle to never fail in the race. Bitcoin brings a lot all you need is to study and realize.

Well the answer is that many, many that do their research and no just follow hype or trends would have know this would happen or better still anticipated that anything is possible in Crypto-currency and you are meant to also think about the worse possible outcome.

SBF isn't an upright man and if you had looked at his past and that's before the FTX case you would know he had some history of ingenuity. There are always hints and clue you are meant to fix up that can help in carrying out the right decision in crypto-currency but to find them you have to do your research.

Also the cases you wrote is not in any relation with Bitcoin, because some people that had issues with FTX are bitcoiners but rather your approach to crypto-currency is more important than what you are holding .

Other altcoins can still be controlled by their owners while bitcoin is not, for example Luna collapsed because of its owner, FTX collapsed and FTT tokens because the owner was corrupt and stole billions of dollars and many others collapsed with large companies resulting in many losses for those who stored there.

Bitcoin is not like that, bitcoin is self-owned when you hold it in a personal wallet that can be controlled then it is safe will not collapse even if the price drops it can indeed recover because the bitcoin cycle is up and down.

Now that I no longer believe in holding altcoins even though some say other big altcoins, I will put that aside and stick to the principle of still having bitcoin in my own wallet.

Bitcoin is still Bitcoin forever and we only need to have it to maintain the value of our money well. Most people believe in Bitcoin and because Bitcoin also all this still survives even though we don't know how the next story even though it happened without Bitcoin born.

Speaking FTX is a exchanger, not like Bitcoin which is a decentralized currency, and also no one controls Bitcoin like other shitcoin in the market today, then if you look in the mirror from the FTX case, it is important to store your bitcoin in the most place Safe and you yourself have access to your bitcoin.

Reflecting on the Luna case that made many people lose their money in that night a very bad event in 2022, if you read the project in depth about Luna, you really want to be made a backup, then buy Bitcoin for their stable coins, of course the calculation is not Logical and that that makes them destroyed, don't be able to believe in the Shitcoin project even though it has been established for years.

All that you mentioned collapsed because they are centralized and anything centralized can collapse, because it is vulnerable to attack and the owner might have a purpose of using it to scam people of their hard earned money. This is why bitcoin remains the king of all cryptocurrency due to its decentralized nature because it is an open source project. All other cryptocurrency are duplicate of bitcoin and nobody should dare invest in them only if you want to gamble with your funds. Also don't trust anything centralized as they only care about how to extort you.

If you convert your coin to monero using bisq, it can't be traced. When you use coinjoin, it can't also be traced because 10 people will send the same amount of bitcoin to 10 different wallets at the same time.

I believe we all know that at some point all this projects will fail as investors begin to lose interest in their service, the industry wasn't built on the reputation of those project so even though they leave the market the market will still be active as it was here before they came. Binance exchange been the biggest, even though it fails (which is evitable) that doesn't mean the industry failed because the market will still be active and running. The reputation of the industry is built on Bitcoin, without Bitcoin there will be no cryptocurency industry which is why it's recommended to invest in Bitcoin and ignore alternative currency or other services been offer that promise doubling your capital like staking and the rest. Build your foundation on Bitcoin and no matter what happens to the rest of the market, you won't be rekt.

The price of Bitcoin will only be affected by this misfortune and that's because a majority of them happens during the bear market and since there's already fear sentiment in the market people begin to panic and sell their Bitcoin which affects the price but only for a short while. The collapsing of project happening only add strength to the saying of buying only Bitcoin and forgetting about any other currency in the market and also it encourages the use of decentralized P2P exchanges.

Even if there are cases of scams or the closure of exchanges, the crypto market will continue to operate. There are still many exchanges or other projects that are still operating their businesses. And Bitcoin can still survive negative opinions about Bitcoin.

And as others said, we cannot compare Bitcoin and altcoins. Teams still run the altcoins project. And if the team is not working well, it will affect the project's development. It does affect the crypto market and although it also affects Bitcoin, Bitcoin can still rise. Currently, Bitcoin can still survive and it is just a matter of waiting for its moment of revival.

And there are still many people out there who don't have Bitcoin. It doesn't affect them because they are still trying to survive too. And those of us who choose crypto also have to endure waiting for the crypto market to recover.

Going back to Luna and what Do Kwon has been doing all the time with the project, many thought that he was legitimately doing something else that encourages the market to buy more Bitcoin as that's what his project has been doing. But on the other side, we don't know that his plans are evil and it's just a show that the media is reporting about his projects buying Bitcoin like being a reserve. Moving on, most of the lending projects weren't trustworthy at all. They look good at the beginning but the business model that they present aren't sustainable, we've seen a lot of them fell already.

The popularity of cryptocurrencies has grown so much because people trust them. It is very important to have faith or trust in every matter. If we can't trust or believe in something then we will not get peace by investing in those sides or anything else. FTX is the biggest scam ever, SBF has ruined many people's lives. Even after such a big fraud in crypto platform, people still trust this platform. If this kind of fraud is constantly happening then maybe people will lose their trust from this platform.

Bitcoin is still not recognized and legal globally, there are still many countries that have not recognized it and even many countries have issued bans on it. Furthermore, if you think everyone should use bitcoin and completely eliminate the government's centralized financial system, do you think the government will legalize bitcoin for us to use? They are not stupid enough to let people freely use bitcoin and leave the centralized banking system they have built over thousands of years.

Bitcoin brings innovation in the financial system but will not be able to replace the entire existing centralized system, both will coexist and grow.

Centralized exchanges and lending and earning platforms have been failing for a long time, do you remember Mt. Gox? You should have zero faith in any centralized exchange, and take note that they do not care about BTC as many people are made to wrongly believe, they only care about making money through their fractional reserve scam.
What new technology does Ethereum and xrp bring to the crypto industry, these are two centralized shitcoins that do not have any usefulness. Monero may be the only altcoin that is actually useful.
Never put all your eggs in one basket is a good advise, but take note that if you are investing in BTC and altcoins your eggs are in one basket because they are intrinsically linked to one another, diversify by investing in BTC and assets that aren't intrinsic, like gold, real estate, etc.

I understand, and you're not alone. Many are cautious of altcoins. However, not all altcoins are scams. Ethereum and Ripple provide new technology and ideals to crypto. I agree about the sentiment-driven market; Bitcoin is everyone's big brother. Everyone moves when it does. But why? Is it sentiment or more?

Imagine if every coin had sentiments. Would the market be stable or chaotic? Bitcoin is powerful while being decentralized. I advise you to diversify, investigate, and never put all your eggs in one basket, even if its flashy and called Bitcoin.

We can't compare Bitcoin with an altcoin. Bitcoin will not collapse, but altcoins will. We may see the volatility, but we won't collapse like Luna. When something goes wrong in the crypto industry, like an exchange collapse, it does affect the Bitcoin price. Though we can't secure the price, we may secure our assets by avoiding storing crypto on exchanges. So when Bitcoin recovers, our funds will recover as well.

Another coin or not, the outside world had a habit of generalizing every cryptocurrency as "under bitcoin" whenever issues like this come up. Luna was the first strike in the barrage of undesirable events that lead to the collapse of 2022. Bitcoin was seriously affected too as this was precisely the period when bitcoin fell from its comfortable 50-60k spot to the 40,000s and right now well under 30k with no good signs of ever getting back up to its former glory until the next halving. Its mishap indirectly affected the market and the outlook of the people, especially those who are not that accustomed to the bitcoin environment for good, with most of them jumping ship.

Bitcoin is the king of crypto, and always will be.
With various evidence of the conditions that have been experienced by the crypto world, Bitcoin continues to run as it should, through all the FUD that is being spread, even though there is a lot of negative news that has occurred, there are many scams and frauds in the crypto business, Bitcoin remains at the forefront and is trusted. Bitcoin is decentralized, and we can each use it ourselves. With various things that have happened, such as the cases given by the OP, in fact there have been many other very large scam cases throughout previous crypto history, Bitcoin is still able to survive and get through it.

So many critics has expected Bitcoin to fail like ftx and the likes that later crashed or were scam schemes to just cart away with peoples money. Bitcoin has however not disappointed yet. Eyes are still on the forthcoming halving to know if BTC will survive and I can assure that it will supercede all expectations.
The fact that BTC has not failed is also a very good reason why other altcoins and exchangs  keep firing on and try to maintain a healthy competition by improving and making upgrades to enable customers and those who have trust and investment in them, enjoy great quality of service.

It has been always like this in crypto industry since the beginning. The difference is that on the early years scam schemes were more anonymous, didn't have large advertisement and endorsement by popular influencers and celebrities. Scammers have been always present in crypto market, luring BTC investors into giving them their BTCs in exchange of volumous, easy and guaranteed profit which end never coming. Unfortunatelly it's possible that many of those scammers have their wallets replenished of Bitcoins they stole until nowadays, what means they still take advantage of the fact Bitcoin stays strong above the 27,000$ line.

Bitcoin is the solution to many people's financial challenges, but it's such a pity many are yet to identify this out despite the advanced awareness that has taken bitcoin into a globally recognized cryptocurrency, we cannot continue with the use of the same financial economy and system under centralized Institutions for life, bitcoin is the game changer and the world is happy to embrace the same opportunity with bitcoin, it gives the financial change we want in our economical lives.

Altcoins equals scams. Most of them that are available now is a scam in a way. So that's not a big surprise, is it?
Fall off centralized exchanges? It is centralized, so those even does make sense. If you give the access to your assets to a centralized back from, something like that was meant to happen. So that's not a surprise either.

Even right now, SEC is going after Binance. They have blamed many altcoins for security, but only left Bitcoin out of the list. And why is that? Because Bitcoin is decentralized. This is all that mattes.

I agree with this statement that Bitcoin has carried over the whole crypto market on its shoulder to this point. Because the whole market runs on sentiments. If Bitcoin moves, then other coin moves too. Not because they have any connection to Bitcoin, but the sentiment attached to Bitcoin create the market movement. Bitcoin does play a great role in the crypto market.

News events, including occurrences like the FTX bankruptcy, often seem to have a limited impact on the crypto and Bitcoin markets. This is because the market operates on algorithms rather than being solely event-driven. It's fascinating to observe on the Depth of Market (DOM) how prices don't always follow orders but adhere to algorithmic patterns.

Cryptocurrencies are advancing on a next-generation system, an update that has been long overdue since the 1980s. Bitcoin's enduring presence, free from VC involvement or presales, underscores the organic nature of its adoption.

Bitcoin and the underlying system hold tremendous potential for revolutionizing our payment systems, paving the way for future developments.

WabiSabi coinjoins do not leave any traces.  Common input ownership and change is eliminated.

We all wish we can predict the future, we didn’t expect to see FTX becoming a scam and all the events that happened in the year that affected the price of Bitcoin price. The media made sure they did everything they could to make the FTX scam look like a bitcoin scam. But I disagree with the last one, Luna had no effect whatsoever on the price of bitcoin. It’s quite the opposite because altcoins follow the movement of bitcoin, so if bitcoin dips, altcoins dip even more significantly.

Financial suicide? What if you don't have capital to invest in Bitcoin? Should you kill yourself or go the extra length to get money by all means just to invest in Bitcoin? It is good to have Bitcoin, but have money first before thinking about it.

All that you listed is centralized, and if you keep believing in centralization, such betrayals will keep happening due to selfish interests or human error.

Bitcoin stands out because of its decentralized nature. Had it not been decentralized, the crypto world would have collapsed by now, full of scams and untrusted projects that are centralized.

Invest in Bitcoin to avoid any other stories related to hacks and the collapse of any project because Bitcoin is transparent.

If the bitcoin was not today, I can confidently say that the cryptocurrency today would not be at that stage. Bitcoin previously was at its top when it was above $50k, but when the time came it went less than $30km, people didn't lose hope and they thought that this would be a better time to buy bitcoin. As they already knew the bitcoin price it will never leave its Hodlers. Also, we all know that bitcoin has a specific structure that no other coin has.
The word you mentioned for suicide didn't suit here as I can say there are many other financial ways through which we can get more opportunities of earning. The thing that matters is we should never lose hope, and we should try again if we fail in something.

What do you mean by financial suicide? Not having bitcoin is not the end of the road to greater financial life but having it early will have speed that for you. Who know] what would have happened if you had the opportunity to get some early, perhaps you will have sold all of them for something else, just saying.


The list you mentioned above are centralized teams, nothing spectacular about them.3AC were venture capitals, not sure if they are still but use to buy into altcoins with millions of dollars and pump the hell into this altcoins and when they pump, they gradually sell and remove their money leaving behind the small rabbits that are looking for small money to make a living.

They all chew more than what there mouth could handle and you see all of them, they were related in theft, use customers money, FTX is the leader and they were all involved in that heist that lead to the collapsed of Bitcoin in 2022, they are not related to bitcoin and they have nothing with bitcoin, I don't understand why you mean if not for Bitcoin with these companies.



It's looking strong but we need confidence, after what happened last year. Many trust has been broken from altcoins and they all paints that in crypto and bitcoin not knowing that Bitcoin and crypto are two different things, they chose shortcuts that is very harmful but if you advice them, they will never listen. Many are sidelining waiting for quick pump to make their money back and exit quietly.

You are right, but the thing is, you are starting from the child roots, which means you said if there was no BTC then due to the above scams and bankruptcies we would be gone. I would say those bankruptcies came into being due to the creation of BTC. BTC gives birth to all these coins and tokens. The first Alts and forks of BTC were made with the help of BTC technology. If we see from an angle then BTC created these projects.

Well, coming back to the discussion, I totally agree with you that, even if there is a child and parent relation but these children came with different characteristics which led them to an end and caused many investors a huge loss.

We should also not solely depend on BTC and should diversify our funds. Just open-minded advice. Of course, bitcoineers might not agree with me but believe me, diversification is good.

If bitcoin hadn't been created there would be no cryptocurrency industry, so it's no surprise that without bitcoin everything would completely collapse. I think anyone involved in this market knows this even if they are an investor in those damn altcoins. The importance of bitcoin is undeniable and it will always be so even as the market gets bigger and bigger, bitcoin will always be the mainstay, the great father of the entire cryptocurrency industry.

Centralised business collapsing has no relationship with the cryptocurrency. It is just one of their products on which they have built their business upon. They could not run it because of their own faults and collapsed eventually. That's a very frequent incident in business world.

I believe criptocurrency investors are mature enough to understand the difference between cryptocurrency and the business built around it. Cryptocurrency will stay as it is and we are just seeing a market which is just around 15 years old.

Having a little bit of bitcoin wouldn't hurt you and I believe it would bring people joy whenever they profited on it, as long as they know what they are doing. Always consider the benefits along side with the downside of it. I somewhat sort waiting for something big when still we are on the bull market, something big that can be a sign for me or a trigger for the bull market. After one big flop or scandal in crypto during the bull market will eventually snowball until we realized that we are on the bear market. It obviously happened real quick last bull market.

As long as you are smart or know why you have bitcoin will eventually make you happy.

Because the only way to achieve a maximum privacy is through centralized mixer, using Coinjoin or convert to other privacy coins are still leaving a trace. Of course this need a trust from the user before use the service. But they have a decent reputation and wouldn't easily to disappear.

If you preach "Not your keys, not your coins", why are you advertising a custodian in your signature?

That's really true, it's only because of Bitcoin the crypto-currency market is still surviving. The so-called Luna's collapse and depegging of it's so-called LunaUSD discouraged so many investors and a few started claiming that crypto-market is scam and can not be trusted, but because of Bitcoin we are still having the market kicking in last quarter of 2023. The investors who invested in FTX or Luna lost a lot of money due to that unresearched investment. If they had invested in Bitcoin then they wouldn't lose anything at all.

They will never feel tired of it.  

History has been made and Bitcoin has set up solid foundation for evolution of blockchain industry, even it is not a first cryptocurrency ^[1]. We can assume, if Bitcoin had not succeed, there would have been another cryptocurrency achieving the success of Bitcoin.

Reality is Bitcoin already did it and so far, since 2009, there is no other cryptocurrency can surpass Bitcoin.

About decentralization, only Monero can have it but still can not compete and take over a King position of Bitcoin.

[1] Bitcoin prehistory

Noted sir, thank you

Yeah, who would have thought these companies will collapse? But I always have different ways of looking at these companies, maybe FTX have other intent of calling for bankruptcy if CZ hadn't spoiled the show for him?

All in the name of 'we went bankrupt, people can still use that as an advantage, anyway enough of the James bond sixth sense, I believe that these events must happen for crypto to collapse very hard, it's like a monopoly, this is just my own mind saying things, it doesn't mean they are facts.

Such events will always keep happening in the future, that's why decentralization is very scarce in this space, it's a big sign that everything centralized is highly manipulated, trust not any CEX with your Bitcoin, no company, banks, or government entities can keep your Bitcoin safe than your non-custodial wallet.

Plenty of us.

There are plenty of us who have been preaching "Not your keys, not your coins" since the dawn of centralized exchanges, and there are plenty of us who don't throw their money away on random shitcoins with no purpose other than to make their creators rich.

Here's a post I made in January of 2021 warning about the risks of BlockFi: https://bitcointalksearch.org/topic/m.56070076
And here's a post I made in February of 2021 warning about both BlockFi and Celsius: https://bitcointalksearch.org/topic/m.56289293

I don't care if the "crypto industry" collapses. 99% of altcoins are outright scams. Centralized exchanges and lending platforms only care about their own profits, and will happily scam their customers, gamble their funds, run fractional reserve, and so on. ICOs, then DeFi, then NFTs, then Ordinals - all short lived pump and dump nonsense designed only to rip off average users and take their money.

Bitcoin worked long before any of this nonsense, and bitcoin will continue to work long after all these stupid fads and scammy centralized exchanges have collapsed.

The other thread is not bad and has earned you some merits but I would recommend you not to open too many threads just expressing what you think or people may get tired of it.

That said, you are probably right that if it were not for Bitcoin the cryptocurrency industry would have gone much further downhill and possibly collapsed, although it is very difficult to make any claims about what would have happened if what has, in fact, happened had not happened. It enters the realm of pure mental philosophy or speculation.

The only thing I agree is Luna because this is an another coin, which completely has no relation with Bitcoin.

While 3AC, Blockfi, Celsius, Voyager, and FTX were a centralized sites e.g. exchange, lending, hedge fund that people use to hold their Bitcoins, so even you're trust Bitcoin, you will lose your coins if you hold it in a centralized sites.

When I saw the benefits of having Bitcoin, I take it as a financial suicide not having Bitcoin.

Who would have ever known that from the start of 2021, that;

_3AC(crypto biggest VC) would subsequently collapse.

_ Blockfi, Celsius and voyagar would go under.

_FTX would implode, and SBF being exposed as one of the world biggest fraudster in financial history.

_ Luna would go to 0.


Upon all this event that has took place,  the crypto industry would have completely collapse if not for the confidence and trust investors have in Bitcoin.
It has kept the crypto industry running, just look at Bitcoin today, it's still standing strong above 27k.
If not for Bitcoin, we would have all went home sad.
Cheers to all the bitcoineers