Topic: Is crypto on the way to destruction? (Read 510 times)

Those were just instructions to safe keeping the funds into decentralized wallets so that it can't be accessed by the third parties. I think this is what it meant and may this is what Mr. Satoshi stated long time ago which people are not following due to the greed of earning more and more fiat money as profit from the crypto trading.

Idk, but sometimes I feel that if we would have kept using wallet to wallet transfers (p2p) then crypto could have been even better place to live and prosper.

Also the instructions are simple thoughts of Satoshi's vision. There is no need to make buzz out of it.

Heyyy from  past few weeks should be back to the crypto equivalent of the traditional market investing concept of dollar-cost averaging, slowly building a position in an asset over time so all your money isn’t exposed to any single bout of volatility.

Luna and FTX collapse destroyed confidence in the crypto industry simultaneously will also encourage global regulators to tighten the screws. Some crypto experts and analysts think everyone should welcome the scrutiny because it can help restore faith in the industry.

All the wise people have emphasized caution. Crypto will never end or be destroyed but if some dishonest person commits a big scam it affects the cryptocurrency market including the investors. We've seen Luna Crash before. Everyone knows how terrible that was. The effect of which has not yet been finished. On the other hand, the FTX collapse also hit the market again. But I think the shortcomings of cryptocurrency are being removed and the cryptocurrency market will be established on a stronger foundation in the future.

NO, we cannot say because the price of crypto currency is down or the one of bitcoin is on the way of destruction. Yet we still benefit from it the little we have we should use crypto have been on the way for a long time.

I believe Theymos wanted to remind all about what they, the OGs in the space have continued to say on many occasions, "Not your Keys, Not your Coins" and the FTX exchange issue just further reemphasize that. Many people still leave their crypto assets in their exchange wallet and a lot of it too, if you can afford that much then you can afford a hardware wallet plus these hardware wallets aren't really that complicated.   

7 Cs of Crypto

https://youtu.be/lnUGAsTLU9o

Theymos is simply advising us to move our funds from centralized exchanges to decentralized exchanges due to the drama that these exchanges are currently engaging with . Nearly everyone involved in the cryptocurrency industry is aware that when using an exchange, we do not have complete control over our funds, and if we do not have complete control over our funds alone, it indicates that we have not given our funds adequate security. Consider the current situation at the FTX exchange, where many users were unable to access their funds, which caused several to pass away. Therefore, if we need a good level of protection for our data, we should attempt using a decentralized wallet so that we have complete control over it.

With knowledge of bitcoin and cryptocurrencies, we are aware that no matter what, a bear market is coming. Therefore, the current bear market shouldn't scare anyone. If you have been following the history of Bitcoin and cryptocurrencies in general, you will find that this is not the first bear market. As a result, don't be panic, remain calm; the market will eventually recover. However, there will be many failed projects, so be careful about the coins or tokens you choose to purchase. I would like to recommend Bitcoin in this bear market because it is the safest investment.

If it is because of FTX’s problem that Ni has this idea, then there is no need to panic. It is not a problem. FTX is not well regulated. It has no guarantee for our account. Our funds may be stolen at any time, but if FTX is well regulated Nothing like this would have happened.

Both bull and bear markets are normal. I don’t think it will be destroyed. Cryptocurrency has been known to more and more people. As long as there are people interested in it, it will not disappear.

I have a feeling that the recent crashes are all manipulated by some force, the deaths of Luna and FTX are attracting the attention of the legislators, they are stepping up and also have enough reason to intervene in the market as legally as possible.

The market is getting so big, they haven't reaped any benefits for years and now they're starting to notice it. With regulations to control us and then huge taxes to be imposed on us, I think regulation does more harm than good to us.

Cryptocurrencies have been on a bit of a roller coaster lately, but that doesn't mean they're going to disappear anytime soon. Every time when crypto got hit, it doesn't get weaker, but stronger. The market washes away from the scams. The whole idea of crypto is decentralization, and when people entrust centralized institutions like FTX with their money, you know what's gonna happen. I know it's a cliche but "not your keys - not your coins. I expect that crypto will get more hits like this last one in the future as well, it's just inevitable until people understand what crypto stands for... Until then HODL on crypto brothers!

And it was unfortunate that many were still not convinced about it. Many had thought that once the market is in correction, a collapse will going to happen next. Yes, I tend to agree that history will repeat itself (sometimes) and we are facing it again. However, despite the negative views we have seen and heard from hopeless people, we're still here trusting and believing that one day the market will turn back to bullish again.

By now and hold - we celebrate later.

You people still panic?
Back in my days I would panic if my mattress would start to burn, now at least I know one day I will be able to see them

Yea Bitcoin will recover again with time and hit the bull market no matter the challenge in the the crypto market presently. The dip of Bitcoin is not new because history is repeating itself again those who don't have confidence and understanding on their investment are the ones that are selling their Bitcoin holdings due to panic.

This is the time for a bitcoiner to buy more Bitcoin at a lower price and hold to it till when it hits the bull market again before selling it if at all. Bitcoin has come to stay so if you sell your holdings now you will be among those that will regret your actions later. Always save your Bitcoin in a noncustodial wallet where thieves can not break into and steal.

That is a huge amount of money, that’s not an acceptable level of money. We need to make sure we are using the correct systems and not use these very loose safety systems because the more projects come out, the more people put their money in them and they get hacked and the number is growing every day.

Just to emphasize, I do not think that binance or coinbase would be hacked into, or at least our funds would be in danger there, but that doesn't change the fact that we shouldn't keep it there, you could move it out if you want to, because it's so easy. Just put it on your computer, and have like 1 or 2 backup USB and you would be doing fine.

The biggest mistake when you have bitcoin is wanting to be alert at the time of eventualities and not before, that is, one of the advantages of having bitcoin is decentralized wallets.

So we have to keep that advantage in mind always, that way it doesn't matter what happens out there.

We cannot control the crypto ecosystem in its complex growth and changing processes that occur, which have consequences like those of the mentioned exchanges.

It's like a game of waiting. People with patience and dedication are always the winner. If you invested in Bitcoin and are very greedy or can't wait, you are a loser.
Just take an example of when Bitcoin started in 2009 and look where we are now today, it's amazing how far Bitcoin already reached. It's long-term.
I believe that Bitcoin will stay, it's already proven. A lot of cryptocurrencies that already vanish but look how Bitcoin staying on top 1.

The decline in the market is not a sign that the crypto market is crashing. But it warns those in crypto to be careful what happens next. But this is just a temporary way to rid the market of useless coins and tokens. Or in other words, the market is resetting the list of coins and tokens so the market can be even better in the future. This has been happening for a long time and there is nothing to worry about. This may be new for beginners who have never encountered anything like this. But you don't need to worry. You just need to be patient while preparing your coins, namely bitcoins so that you can benefit later.

If you must know there is nothing wrong with the advice given by the admin, as matter of fact is just a little reminder to us so you could be safe and well guided with or without any of us falling as a victim of what's currently happening. With your title weren't going into any destruction rather I could term it to be a market correction whenever there's instability or turbulence same it was with Luna then later got corrected before now the FTX so I don't think there's any destruction in crypto.

This is not a threat for us that crypto is heading to destruction, instead this is just a constant reminder that we should not rely on existing online accounts since there are chances that they may prone to hack in the future. So no need to worry, everything in crypto is still in its proper place. We just need to keep safe all our money by not putting it in non-custodial wallets.