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Topic: There is Hope at the End of the Tunnel. Don't Give Up. - page 3. (Read 665 times)

sr. member
Activity: 1372
Merit: 348
You think everyday is yours? Well that wasn’t Sams day and he lost it all. I am pretty sure he is poor by number but not by his bank account. He was billionaire with sound brain so he must have invested and saved up lot of money along the way. The fact is, we can not be rich in the crypto all the time and not all of us can be rich at the same time if you ask me. If someone is buying then someone is selling and it depends whether they are selling or buying in loss/profit. For Sam it was tragic, we are already in the bear, we already lost big chunk of money from the market and then FTX happened. What could have he done? Just wait and watch.
Agree with what you said about us not being able to continue to be rich in Crypto because sometimes we also have bad luck there and maybe even more often than actual profits.
But with this, we can also know that sometimes things that are expected are not always realized in real terms, so we really need a few moments to make this better, although there are still sometimes things that of course you don't really want, just like in Sam's case. and this FTX.

The thing is, a person must be honest on his works.  Don't try to take advantage people trusting people because it may back fire one day. Just like what happened to SBF.  He has been exploiting his FTX exchange client.  Instead of directly acquiring the investments through FTX, SBF created Almeda to tunnel the clients funds into investment and take the profit directly by himself.  I think SBF had done enough fooling and cheating around, so this time he must take responsibility of all his wrong doings.
hero member
Activity: 1498
Merit: 562
Leading Crypto Sports Betting & Casino Platform
You think everyday is yours? Well that wasn’t Sams day and he lost it all. I am pretty sure he is poor by number but not by his bank account. He was billionaire with sound brain so he must have invested and saved up lot of money along the way. The fact is, we can not be rich in the crypto all the time and not all of us can be rich at the same time if you ask me. If someone is buying then someone is selling and it depends whether they are selling or buying in loss/profit. For Sam it was tragic, we are already in the bear, we already lost big chunk of money from the market and then FTX happened. What could have he done? Just wait and watch.
Agree with what you said about us not being able to continue to be rich in Crypto because sometimes we also have bad luck there and maybe even more often than actual profits.
But with this, we can also know that sometimes things that are expected are not always realized in real terms, so we really need a few moments to make this better, although there are still sometimes things that of course you don't really want, just like in Sam's case. and this FTX.
legendary
Activity: 2842
Merit: 1253
There is always hope at the end of the day but after I watching this, well its look crazy that FTX collapse is not ending yet, I hope ftx find the way to recovel all the mess



I wonder why this investment doesn't save  FTX from collapsing.  As in, there are lots of investments done by FTX and its sister company Alameda, and yet they failed to supplement the needed fund of FTX to survive.  Now I wonder if these investments are just for show, while the management is moving away the funds of FTX clients.

It is also funny how SBF trick his FTX client of its profit by loaning the money to Almeda and making that investment acquire his own firm.  It looks like SBF had been fooling his FTX clients from the start.
hero member
Activity: 2086
Merit: 603
You think everyday is yours? Well that wasn’t Sams day and he lost it all. I am pretty sure he is poor by number but not by his bank account. He was billionaire with sound brain so he must have invested and saved up lot of money along the way. The fact is, we can not be rich in the crypto all the time and not all of us can be rich at the same time if you ask me. If someone is buying then someone is selling and it depends whether they are selling or buying in loss/profit. For Sam it was tragic, we are already in the bear, we already lost big chunk of money from the market and then FTX happened. What could have he done? Just wait and watch.
legendary
Activity: 2884
Merit: 1117
Leading Crypto Sports Betting & Casino Platform
That's the risk he took from investing in the crypto space. It was reminded over and over again in this forum to invest at your own risk. Although I know he is not part of the family here, he does have a financial/investment specialist to help him in deciding all of that.
Exchange is not a good business in the crypto space, it needs every minute of monitoring, customer support, whales backing him up, and offers that will water the mouths of traders.
He made a wrong initial decision by giving away a big part of his coins to another exchange just so he could be listed. This is a good lesson for those aiming the same as him. Better just pay them with USD/USDT or any stablecoins in exchange for listing.
It’s clear that making mistakes is common in the crypto world, when there are too many people who could show the right path, there are still a lot of people who make mistakes because they think they are smarter than everyone else, and that’s not an easy thing to deal with realizing you are actually more stupid than all of them.

The easy thing would be buying bitcoin, as much as you can, putting it on a ledger, and then just leave it there, keep buying more when you get some money, and keep doing that for over a decade and you l be left with a lot of money in the end. But something as simple as that cannot be done and some people think they can make money quicker, and end up losing instead.
copper member
Activity: 1988
Merit: 905
Part of AOBT - English Translator to Indonesia
There is always hope at the end of the day but after I watching this, well its look crazy that FTX collapse is not ending yet, I hope ftx find the way to recovel all the mess

sr. member
Activity: 2506
Merit: 328
Nothing particularly extraordinary has happened lately. The current bear market is bad but IMO not worse than the one we had in 2018-2019. So nothing unpredictable or devastating in this matter. As for the FTX story, it's a cautious reminder that centralized services can write you the numbers of coins that you allegedly own and store there, but they are the true owners of your coins and can basically do as they please with them, resulting sometimes, even if not often, in devastating events. I see no reason to give up or to worry too much, as nothing that harms Bitcoin as such and its reputation has happened.
As long as you don't put your BTC on any CEX it's safe since you have the key and not them. Investment isn't just easy it has a risk to it and we can't say you will not suffer some losses but be ready when that time comes. Nothing is safer when n it comes to investment but if you know what to do with it then you really learning on how to prevent huge losses when investing.

Most people should realize what happened in the past and reflect what could be prevented when that terrible time comes.
On the time you had made out deposits on an exchange then its already part of the risk and its true that as long you dont make exchanges are your main wallet then i dont see anything wrong with it.

It is really just there are really things which we cant avoid not to make deposits specially when we do make trades or on the time we do make out conversions to fiat which we would really be needing on touching up exchangers.
When we do speak about future then there's no such thing about guarantees that it would really last forever or wont really be able to face up issues and events which would really be
disaster for a business.

sr. member
Activity: 2506
Merit: 368
Nothing particularly extraordinary has happened lately. The current bear market is bad but IMO not worse than the one we had in 2018-2019. So nothing unpredictable or devastating in this matter. As for the FTX story, it's a cautious reminder that centralized services can write you the numbers of coins that you allegedly own and store there, but they are the true owners of your coins and can basically do as they please with them, resulting sometimes, even if not often, in devastating events. I see no reason to give up or to worry too much, as nothing that harms Bitcoin as such and its reputation has happened.
As long as you don't put your BTC on any CEX it's safe since you have the key and not them. Investment isn't just easy it has a risk to it and we can't say you will not suffer some losses but be ready when that time comes. Nothing is safer when n it comes to investment but if you know what to do with it then you really learning on how to prevent huge losses when investing.

Most people should realize what happened in the past and reflect what could be prevented when that terrible time comes.
legendary
Activity: 2562
Merit: 1441
Years ago, there was a case where coinbase employees bought an altcoin (if I remember correctly) before it was officially adopted by coinbase. There were accusations of insider trading of which coinbase later received an innocent verdict. There was a noticeable bump in the price of the altcoin, before the official adoption. Which many recognized and acknowledged.

Some are saying that bitcoin declined before the FTX case made headlines. Which indicates FTX is not responsible. But having seen the coinbase insider trading case, is it fair to say there could be similarities between the two. Could inside traders have received inside knowledge of FTX which led them to dump their bitcoin before headlines were announced.

Its hard for me to care about FTX as there have been many worse headlines in finance over the past 15 years, which people seemed not to care about. It feels as if most did not pay attention to current events or the news until the 2020 pandemic hit. Then everyone began scrambling to become more literate in finance and politics to fill in the gaps in their knowledge.
hero member
Activity: 1330
Merit: 585
Leading Crypto Sports Betting & Casino Platform
As far as I know, every company must have experienced a period of bankruptcy after the glory he went through at the beginning of the project. but even though a company already understands this, of course the company's CEO already has a strategy to overcome if one day bankruptcy occurs. so that the company can crawl up again.
in the case of FTX, in my opinion, Sam Bankman Fried as CEO must have a plan or strategy to overcome if one day this problem occurs. but in reality the CEO of FTX was unable to overcome all this and instead asked the CEO of binance (CZ) for help in acquiring the company. this is one of the weaknesses of the FTX CEO who is unable to control his own company instead of asking another company for help. very sad




There is Hope at the End the Tunnel
Upon all that, Nigerians still have the hope despite the drastic bear market.Most Nigerians are on tears because of the recent crash that came suddenly yet they still have the hope that Bitcoin will still rise again.
not only Nigerians believe that bitcoin will rise again, but everyone or all investors affected by the FTX incident are crying because of the fall in bitcoin prices and they are still convinced that bitcoin will rise again in the coming year. Every cloud has a silver lining
hero member
Activity: 3038
Merit: 647
He was once a billionaire but not anymore today. I don't know that guy, Chibueze. But if he's in good will to donate $500k of his wealth to the victims.

But upon reading the article[1], it's not an actual donation that he's going to do. It's like a fund that he's willing to lend to the victims or the exchange in rebuilding of what the damage has done. Let us say that he's literally going to donate it and just want to add to the fund. However, I think that won't be enough as the damage is already too big to stop.

"....Even if Binance is not buying FTX again why can't industry players come together and save the Industry by contributing and Lending them this Money? I am ready to support with $500k."

Today might be a very frustrating moment for Sam. But that Chibueze guy, I’m not really familiar about him. Maybe he’s really that wealthy to lend some funds to the victims and I think that’s a very humane act of him. But for Sam, I know he is not really in obsession for profits like he always said in his last interviews, but I know what had happened to him now is really unexpected and might bring fears to other big exchanges too.
hero member
Activity: 3052
Merit: 606
Sadly, sometimes, there is neither hope nor light at the end of the tunnel. The people might just have to dig a new tunnel or better still generate their own electricity. The whole FTX saga proves one thing, nothing is permanent. I am skeptical about this Chibueze and the motive behind his generosity. I am well aware that he is the founder of TATCOIN. And he may just be looking for a way to pull public attention towards him and his coin.
This event also teach us a lesson that we should never trust exchanges no matter how big or popular it is since its  future is still not secured and everything bad may happen in just a blink of an eye that will eventually lead to its own destruction. Although the case of Sam is very unfortunate because we have known that his profits from crypto usually ends up in different charitable organizations, but this is crypto life, everything is unpredictable and that nothing is permanent.
hero member
Activity: 2338
Merit: 757
Someone that once Richer than the richest man in Africa and become a poor man within a week. Are you sure crypto is the best place to invest?
When a person puts all his investments in the field of crypto trading or creates a working platform or application in the field, he is certainly aware of the level of the risk in what he is doing. What happened is not like that person losing his private keys, it is the market movement that is affected by many data. Crypto has never been the best field for investment, although profits in it may reach record levels. However, we understand that these questions are frequently asked about the feasibility of investing in digital assets in general, given the successive disasters throughout the past year.
This will not last long, but it may take longer than other crises.
hero member
Activity: 2828
Merit: 673
Someone that once Richer than the richest man in Africa and become a poor man within a week. Are you sure crypto is the best place to invest?
It is very unfortunate what has happened to SBF and it will definitely be a difficult period for him, but SBF is very familiar with the crypto, he knows the potential it has to make one rich and also make one poor very quickly. I believe SBF will find himself, maybe not back to billionaire status quickly but he will not stay at this barest minimum for long.
I was also saddened about this sudden news but I believe SBF has also prepared for this and he must have been into other investments as well aside from crypto. So he’ll still get back to his own feet in time. And knowing he has been doing a lot of charity donations with crypto, so definitely a lot of people are very eager to help him in times like this.
hero member
Activity: 3080
Merit: 970
www.Crypto.Games: Multiple coins, multiple games
There's always hope when it comes to BTC if you think about it. BTC went all the way down close to several thousands and recovered like crazy later on multiple occasions proving that it will survive no matter what.

Other popular cryptocurrencies like ETH, LTC, Doge etc followed in its footsteps and are surviving no matter what in a similar fashion which implies that cryptocurrencies aren't going anywhere.
full member
Activity: 1708
Merit: 126
Preventing a hack is not in our hands, but saving our money from getting into hackers palms is possible if we dont use the exchange hot wallets as storage wallets. Unfortunately, this is done by many and they have not learned lessons from previous hacks.

But I still don't see how some other person lending their money to victims means there is hope for the victims. They will most likely be roped into some loan scheme by this person and eventually, they will regret that too. Remember that MLM victims often got double scammed by strangers posing as money recovery agents.

The only hope that victims should have is if they had savings and not some random person donating money. This is the importance of savings parallel to investments.

This has happened to several exchanges before but the sad part is, many investors still didn't learn from the history. It isn't advisable to store funds on exchanges because the possibility of being hacked will always exist. However, it already happened and they have no choice but to move on and take this as a lesson. I hope that more investors will see the importance of proper storing of funds.
legendary
Activity: 3122
Merit: 1389
Join the world-leading crypto sportsbook NOW!
Nothing particularly extraordinary has happened lately. The current bear market is bad but IMO not worse than the one we had in 2018-2019. So nothing unpredictable or devastating in this matter. As for the FTX story, it's a cautious reminder that centralized services can write you the numbers of coins that you allegedly own and store there, but they are the true owners of your coins and can basically do as they please with them, resulting sometimes, even if not often, in devastating events. I see no reason to give up or to worry too much, as nothing that harms Bitcoin as such and its reputation has happened.
sr. member
Activity: 2436
Merit: 272
Eloncoin.org - Mars, here we come!
First of all bitcoin is not the reason why the FTX founder went broke and even the FTX is still a profit making company but from the investments he ran other humdreds of associate companies which ate all the money so he filed for bankruptcy. So this has nothing to do with the bear market cause exchange is always going to make money as long as trades happen.

Now the investors who lost the bitcoins due to FTX crash and hack might be responsible for their own loss because its a known fact that any exchange can be hacked at anytime so users who kept funds in exchange wallet should move funds to wallet if possible.
legendary
Activity: 2898
Merit: 1253
So anyway, I applied as a merit source :)
Preventing a hack is not in our hands, but saving our money from getting into hackers palms is possible if we dont use the exchange hot wallets as storage wallets. Unfortunately this is done by many and they have not learnt lessons from previous hacks.

But I still dont see how some other person lending their money to victims means there is hope for the victims. They will most likely be roped into some loan scheme by this person and eventually they will regret that too. Remember that MLM victims often got double scammed by strangers posing as money recovery agents.

The only hope that victims should have is if they had savings and not some random person donating money. This is the importance of savings parallel to investments.
hero member
Activity: 2926
Merit: 636
For campaign management look for Little Mouse!
Exchange is not a good business in the crypto space, it needs every minute of monitoring, customer support, whales backing him up, and offers that will water the mouths of traders.
People choose the crypto business because they know it is profitable. Might some had fail it because of the possible wrong approach they made and wrong decisions. Though it is to believe the risk in the crypto space, it seems manageable enough if we can manage to control ourselves as well from the influence of a negative mindset.

Real investors are hoping for the best of their investment, they don't easily give up and find a way to find solutions to their problems. It was done already and so we have to move on and make all of these things a lesson to ponder.


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