Cryptocurrency mega-thread

[omnes vos lactaverunt]

They'd shut down the Australian based exchanges. Fiat on and off ramping probably gets harder.

Bit harder to ban a hardware wallet and a VPN though

 

[Evolved1]

At under 30k, you're buying lower than Elon Musk and Saylor.

 

[Evolved1]

They'd shut down the Australian based exchanges. Fiat on and off ramping probably gets harder.

Bit harder to ban a hardware wallet and a VPN though

Shutting down every centralised exchange wouldn't stop bitcoin from being traded.

 

[beez]

Haha Cheerf getting loose the Pimms again stickying this at the top of each page of 'that' thread.View attachment 1399322

Why is that a bad thing?

Good for you that you're mature and settled and financially well off. Good for you that you can speculate and wear losses with your hard earned. But there are lots of kids in this space who have lost money. And I emphasise kids. And there are lots of 20-somethings who will have lost amounts that, to you or I is insignificant, but to them is a lot of money.

 

[BACCS]

Yeah pretty much. No one knows what price the absolute nut bottom will be, but between now and the end of the year is the perfect time to DCA into bitcoin if you have spare cash (even better if you get it below $30k). Honestly I would be steering clear of alts right now until the macro climate improves and the market turns bullish again (probably not until early next year at the earliest).

EDIT: Also remember that bitcoin has already tested 65% below it's all time high. Usually it tests 85% below. However the blow off top wasnt as big previous cycles so wouldn't surprise me if it only falls 70%, which would make the bottom around ~$20k. Just speculating there obviously.

Can’t see it going lower than the 200 WMA at 22-23k, went very close to there the other day. The average cost price point for BTC is at about the 200 WMA too, so I’m sure the market makers have plenty of large buy orders setup there. Heck, 25k could have been the low and we just crab around 30k for a few months.

 

[Milanista28]

Luna to the moon LFG!!

 

[LongBombFromOutside50]

Can’t see it going lower than the 200 WMA at 22-23k, went very close to there the other day. The average cost price point for BTC is at about the 200 WMA too, so I’m sure the market makers have plenty of large buy orders setup there. Heck, 25k could have been the low and we just crab around 30k for a few months.

You may be right, but never underestimate how low btc (And alts especially) will go in a bear market.

 

[BACCS]

You may be right, but never underestimate how low btc (And alts especially) will go in a bear market.

Well going below the level above would go against the history of bear markets.

 

[LongBombFromOutside50]

Well going below the level above would go against the history of bear markets.

As would a testing a price not as big a drop as -85% from the peak

 

[BACCS]

As would a testing a price not as big a drop as -85% from the peak

Previous cycles also had blow-off tops, cycles have clearly changed in nature.

 

[LongBombFromOutside50]

Previous cycles also had blow-off tops, cycles have clearly changed in nature.

$20k would only be a 70% retracement from the peak. Previous cycles have had bigger blow-offs and done an 85% retracement from the peak...

 

[Macca180]

Luna to the moon LFG!!

Luna flying !! lol

 

[LongBombFromOutside50]

$20k would only be a 70% retracement from the peak. Previous cycles have had bigger blow-offs and done an 85% retracement from the peak...

Also just adding to this - previous cycles haven't had $17B worth of stablecoins waiting to be redeployed on the sidelines completely wiped from the market. There's literally zero chance in my mind that $25k is the low.

 

[omnes vos lactaverunt]

Shutting down every centralised exchange wouldn't stop bitcoin from being traded.

Correct

 

[Kram]

Haha Cheerf getting loose the Pimms again stickying this at the top of each page of 'that' thread.View attachment 1399322

What's wrong with the Chief being concerned about people's mental health?

 

[Chief]

Haha Cheerf getting loose the Pimms again stickying this at the top of each page of 'that' thread.View attachment 1399322

With half a million visitors a month and reports of people losing their savings, it may be useful.

You don't know how many people with mental health issues contact each other privately, contact mods. We've done several calls to local police for welfare checks on users.

So... just be aware that this is an issue. Thanks.

 

[LongBombFromOutside50]

Anyone think any major crypto exchanges will go bankrupt during this bear market? I actually think crypto.com and coinbase may be heading down that path. Would avoid keeping any of my coins on these exchanges at all costs -

Crypto .com: Changing terms of their CC rewards, "reversing" transactions, spending way too much on sponsorships
Coinbase: Been doing some dodgy updates to their Terms of Service (for one, a recent update of their ToS states that retail users can have their assets held on the exchange rendered as property of the bankruptcy estate, in the event of a bankruptcy).

 

[WaywardSonSon]

Anyone think any major crypto exchanges will go bankrupt during this bear market? I actually think crypto.com and coinbase may be heading down that path. Would avoid keeping any of my coins on these exchanges at all costs -

Crypto .com: Changing terms of their CC rewards, "reversing" transactions, spending way too much on sponsorships
Coinbase: Been doing some dodgy updates to their Terms of Service (for one, a recent update of their ToS states that retail users can have their assets held on the exchange rendered as property of the bankruptcy estate, in the event of a bankruptcy).

I only utilise BTC Markets at present. Have you used their services before?

 

[LongBombFromOutside50]

I only utilise BTC Markets at present. Have you used their services before?

Nope. I just use FTX and Binance (for coins not on FTX). FTX is my preferred one

 

[Gigantic]

Anyone think any major crypto exchanges will go bankrupt during this bear market? I actually think crypto.com and coinbase may be heading down that path. Would avoid keeping any of my coins on these exchanges at all costs -

Crypto .com: Changing terms of their CC rewards, "reversing" transactions, spending way too much on sponsorships
Coinbase: Been doing some dodgy updates to their Terms of Service (for one, a recent update of their ToS states that retail users can have their assets held on the exchange rendered as property of the bankruptcy estate, in the event of a bankruptcy).

Yep, I'm questioning crypto.com's future at this point.

 

[WaywardSonSon]

Nope. I just use FTX and Binance (for coins not on FTX). FTX is my preferred one

I see. I opted for BTC Markets as it's based in Australia (Richmond) and you can contact their customer service department easily.

 

[Pancakes]

Yep, I'm questioning crypto.com's future at this point.

It would be no surprise if it died, the ceo has history in this area of killing a company and stealing a lot of money from investors.

 

[The Dice Man]

With half a million visitors a month and reports of people losing their savings, it may be useful.

You don't know how many people with mental health issues contact each other privately, contact mods. We've done several calls to local police for welfare checks on users.

So... just be aware that this is an issue. Thanks.

I'd expect the same warning on any thread involving gambling odds then.

 

[Chief]

I'd expect the same warning on any thread involving gambling odds then.

If there was a big event involving gambling that involved tons of people losing all of their money all at once... ? Otherwise there's a thread at the top of the main board.

In any case, that's all the discussion I will have about it.

 

[The Dice Man]

If there was a big event involving gambling that involved tons of people losing all of their money all at once... ? Otherwise there's a thread at the top of the main board.

In any case, that's all the discussion I will have about it.

Do you understand how bookmakers work?