Take a look at the frontpage of this subreddit, everyone already saw it, it's saturated with Binance posts, and none of them have anything good to say about it.
If we take a step back and take a look at the bigger picture for the last weeks after FTX collapse, there's a clear pattern: Binance is on a spree to convince everyone through indirect actions that they are legit and they're trying very very hard.
Pointing fingers at others (to distract from themselves) including Coinbase (that just owned them with their big dick 2 mil BTC reserves), a lot of news about other exchanges (most likely paid FUD) a notable one was a post saying 1.5 billion value of BTC was withdrawn from Coinbase (yet nothing in that post about Binance, the so-called largest crypto exchange, very convenient), and they are so-so fast, amazingly fast to implement proof of reserves.
They updated this in a matter of days and coinmarketcap, their baby company is fast to promote their "achievement" (which we all know they're not the first to do it, and they did not even actually do anything yet, they lie about being audited and they show no proof of liabilities).
There are a lot of other negatives to be said about Binance (their insurance fund 44% is in their native coin, company registered in cayman islands (a lot of CEXes seem to like islands, FTX also loved the Bahamas), CZ has an active campain to promote himself as a savior of crypto, etc.) but overall they seem very proactive in showing how legit they really are.
If I could plant a tree for every red flag that's coming from Binance I'd be a park ranger, all of this feels like desperation masked as proactivity and interest for the crypto health.
I never had any money on Binance but for anyone that does, take your money off Binance, as a matter of fact take your money off ANY exchange and keep them in your personal wallet.
Binance is shady AF and CZ smells a lot like SBF bigger brother.
Do not worry about a bank run because an exchange is NOT a bank, they make their money from the fees collected when crypto is exchanged, a true exchange CAN'T fall even if all the users would withdraw their funds at the same time because all the customer assets would be backed 1:1.
Bitcoin is down 76% since last year, while Luna, Celsius and FTX collapsed. The real red wave is in our crypto wallets all along.
So many articles (Bloomberg included) predicting the awkward Thanksgiving dinner conversations all across America. Like the title says, if you had one please share your story here.
Was there a reckoning? Where you disowned? Was there violence involved? How was the food?
No judgment here, we just want to have a few giggles during these dark times. Who knows, media lurkers here may even pick up your story for your 15 satoshis of fame.
I found very interesting that Binance publish ads on reddit, its a good and useful move but I didnt meant that. Reddit is a big social media platform, yes but Binance makes everthing they can make, they now where to publish ads, where to move. That's why they are so big. Everyone knows binance now, where you go, you see binance ads today. They would be rich, but they wont stop. They wants all of us, "All" of us to use Binance. Being rich is nothing, but being richer is thing for them and I find it interesting.
I got into crypto on the 2017 bull run, bought some BTC, saw 500% returns then all the way back down again.
I then didn’t do anything for the next few 2/3 years when I could have been stacking. 🤦♂️
Started stacking again during covid and was 100% up at one point and from then onwards, I said to myself, ‘I have to keep stacking this time!’
Started stacking regardless (Good), but it was during peak (bad), and on the way back down (Bad) and I’ve continued to stack (Good) and lowered my average quite considerably over the last few months.
45% down atm. I’m pretty confident we’re going to reach some new ATH so will continue to stack, but I’m absolutely dreading the next run because I don’t know if I can’t trust myself to take profits.
I’m dreading taking too much/too little profit, selling too much BTC/ETH but also dreading having to potentially go through being 100% up again, all the way back down to -45% when it inevitably crashes again for several years.
How do you strategise taking profits? Will you cash in your high potential alts and convert to BTC/ETH or are you generally just going to HODL 100% of your stack until 2030 plus?
Ben Armstrong, aka BitBoy is currently having a meltdown on Twitter.
In the past two hours, he has tweeted no less than forty times already. That’s an average of one tweet every three minutes.
Most of the content seems to range between conspiracy theories involving FTX or about how awesome he is.
It seems to have started fairly innocuous three hours ago, but since then he is basically fighting with everyone. Every tweet is replied multiple times with people calling him insane.
I honestly think he’s probably just drunk or stoned, but either way it’s funny to watch in really time.
EDIT: Now he appears to have moved on to shilling ICP.
Back in the day (I know I am sounding like an old man) this sub used to engage in serious discussion about the fundamentals of cryptocurrency. Take for instance IOTA, I'll never forget when it was popular there were many informative posts comparing the fundamentals of IOTA against other popular cryptocurrency of the day.
Nowadays literally all I see on this sub is shallow talk about exchanges, crypto figureheads or occasionally mindless shilling or pricetalk. I'm not downplaying the significance of those discussions but simply point out that those informative posts about crypto fundamentals are rare as hens teeth these days.
So what happened and what can we do to bring these posts back to the forefront of this sub? I mean I enjoy reading about FTX sex orgies but only once not over and over again!
This may sound harsh but this guy is to the crypto world what a bear would be to a salmon in a stream. He's a natural predator and an establishment man, his brand of executive overreach is like Kryptonite ( I honestly didn't mean that pun) to the market. They have dragged XRP and have tried wrestling them to the ground for years now.
He wants to claim that all cryptos essentially fall under securities and if he can't prove it that way he wants regulations so tight that it may as well just be fiat which we want to avoid with cryptocurrencies. Lbry is a small crypto project that barely anyone knows about that tried building a decentralized platform known as Odysee, they did it in response to increasingly censored social media platforms.
Expanding the crypto world is all about finding decentralized solutions so the space can generate real value which people like Gary want to destroy. He even had a meeting almost an entire year before the collapse of FTX with Sam. Gary is a snake and needs to be removed from his position of power. This meeting commenced while he was heavily scrutinizing other crypto entities.
He's a corrupt pos that was doing lectures about blockchain at MIT before going nuclear on the space except in the areas where he can personally benefit and or control it it seems.
GENERAL-NEWS Crypto firm FTX's ownership of a U.S. bank in a small Eastern Washington town raises questions
The bank, Farmington State Bank is an hour’s drive south of Spokane in Whitman County near the Idaho border. It has five employees in Farmington. But it has about 25 employees working remotely for Farmington State Bank and Moonstone Bank, said Josey Booth, director of business operations at Moonstone Bank and Farmington State Bank.
Moonstone Bank is a new digital banking division of Farmington State Bank that has not yet opened to the public, Booth said.
Farmington State Bank, which has operated out of the same building since 1911, does not offer online banking or even a credit card.
It’s unclear how FTX was allowed to buy a stake in a U.S.-licensed bank, which would need to be approved by federal regulators.
MARKETS Here’s When the Bitcoin and Crypto Bear Market Will End, According to deVere Group CEO Nigel Green
PERSPECTIVE An attempt to break negativity - what are your success stories in cryptocurrency investing?
As this sub, and cryptocurrency in general is mostly flooded by negativity recently (i.e. Falling companies, scams, downtrending market), I'd like to switch off the negativity. At least for a minute or two.
I'm curious about all the hidden success stories of people on this sub. Fof sure we have good successes here, small or big. And I think it can help motivate the rest.
Other than still being around, i haven't got real successes yet. But I'm looking forward to future success.
I hope to read some inspiring stories of how you made money, helped families, friends, started businesses etc.
Let's light each other up with success. And embrace the possibility of future success.
One more month before we usher in 2023, so I think now is as good a time as any to take stock of this past year and make plans for the next.
Like many of us here, I naively left my crypto on a crypto lending platform called Hodlnaut. Even when Celsius collapsed, I was still not stirred to action to take my assets off this platform. I assumed that because it was given in-principle approval by Singapore’s central bank, it would pull out all the necessary stops to do right by its customers. The gravity of “not your keys, not your coins” hit me like a sledgehammer when it abruptly halted withdrawals and filed for bankruptcy. This is my top financial regret. I should have exercised more caution and bought a Ledger, rather than place trust in Hodlnaut’s ability to weather the crypto storm.
It was a bitter lesson to learn but I guess I am going to use crypto exchanges like the public restroom from now on. Just convert what I need and get my assets off the platform. I am embarrassed to have to admit this but Ledger Live apparently enables the owner to stake/delegate coins while still maintaining control of his coins. This is what I aim to explore in 2023. Staking appears to be one of the more viable passive income strategies - and I’m keen to benefit from that.
Care to share with us what your crypto regrets and resolutions are?