Cryptocurrency mega-thread

[BACCS]

A few crypto people that you would normally associate as being sensible and smart with their investing/trading have lost big from this. Kaleo, tedtalksmacro, Altcoin Psycho amongst others. This doesn’t now make them dumb investors/traders, it just shows how off guard everyone was about this.

 

[Evolved1]

A few crypto people that you would normally associate as being sensible and smart with their investing/trading have lost big from this. Kaleo, tedtalksmacro, Altcoin Psycho amongst others. This doesn’t now make them dumb investors/traders, it just shows how off guard everyone was about this.

Glad to see your and LongBombFromOutside50 's funds are safu, and hope that applies to others here. I think we all saw SBF as too big to fail.

 

[The Dice Man]

SOL getting crushed is related? Can't say I've been following market talk last few months, but I'm inclined to buy something at today's prices.

 

[Evolved1]

SOL getting crushed is related? Can't say I've been following market talk last few months, but I'm inclined to buy something at today's prices.

I'd take it slow. Refer back to my post #14313 in this thread.

 

[BACCS]

Glad to see your and LongBombFromOutside50 's funds are safu, and hope that applies to others here. I think we all saw SBF as too big to fail.

Never touched FTX thankfully, but feeling for everyone impacted by this. SBF only just donated $50M to a senators election campaign in the US last week, was on the cover of Fortune magazine, had BlackRock invest into FTX... still in disbelief this has actually happened.

 

[BACCS]

I'd take it slow. Refer back to my post #14313 in this thread.

Yep, wouldn't be touching SOL or FTT until the dust settles. If CZ buys FTX, what incentive is there to keep FTT, when he wants people using BNB?

 

[BACCS]

SOL getting crushed is related? Can't say I've been following market talk last few months, but I'm inclined to buy something at today's prices.

Yes, Alameda Research is/was effectively the market maker for SOL.

 

[LongBombFromOutside50]

A few crypto people that you would normally associate as being sensible and smart with their investing/trading have lost big from this. Kaleo, tedtalksmacro, Altcoin Psycho amongst others. This doesn’t now make them dumb investors/traders, it just shows how off guard everyone was about this.

I like Ted's posts and when the rumours were circulating I saw him in disbelief that FTX would go down. I didn't believe it either, but the impact of losing 100% (or even 50%) of your stack for a 0.5% risk of an event occurring isn't worth it.

Where there's smoke...

The smart thing to do was to withdraw funds at the first sign of the rumours, and then redeposit once it had all settled (if desired).

Funny how the insolvency was self-fulfiling due to the FUD resulting in a bank run which revealed their liquid asset shortfall. Again rumour has it that it was a shortfall of $6B, and I'm also hearing now that binance might not go ahead with the acquisition

 

[LongBombFromOutside50]

Yes, Alameda Research is/was effectively the market maker for SOL.

Alameda/SBF was an early backer of SOL, but Solana has a huge ecosystem and will survive without SBF.

I saw that over 18 million SOL tokens are due to be unstaked within 24 hours. A large amount of these could be Alameda's holdings and they'll need to sell to try cover their liabilities.

All Sam coins are currently getting crushed (FFT, SRM, RAY, SOL). Seemingly due to Alameda exiting their positions, coupled with overall market panic

 

[Evolved1]

I've got a tonne of cash to throw into this dumpster fire, and it's all in AUD. FML.

 

[LongBombFromOutside50]

I've got a tonne of cash to throw into this dumpster fire, and it's all in AUD. FML.

What prices are you targeting?

Or are you just going to wait for the dust to settle and see from there? Think that's what I will do

 

[Evolved1]

What prices are you targeting?

Or are you just going to wait for the dust to settle and see from there? Think that's what I will do

Regardless of what happens from here, all of my USDT will be swapped at 11-14k BTC and 5-700 ETH for long term holds (if we get there). I'll let the dust settle before throwing my worthless AUD at this shitshow.

With a stronger AUD, I'd be all in with cash reserves at 11-14k and trying to sell some assets (car/shares) to buy more of these ponzis. I'll more than likely hold off on that hoping for better timing and a more favourable exchange rate close to the next halving.

 

[LongBombFromOutside50]

Regardless of what happens from here, all of my USDT will be swapped at 11-14k BTC and 5-700 ETH for long term holds (if we get there). I'll let the dust settle before throwing my worthless AUD at this shitshow.

With a stronger AUD, I'd be all in with cash reserves at 11-14k and trying to sell some assets (car/shares) to buy more of these ponzis. I'll more than likely hold off on that hoping for better timing and a more favourable exchange rate close to the next halving.

How do you feel about USDT right now? Do you think the FTX collapse might cause some contagion effects and impact stable coin peggings? I note that Circle (UDSC) was a small investor in FTX, and who knows if Tether or Circle made any loans to Alameda?

 

[BACCS]

Alameda/SBF was an early backer of SOL, but Solana has a huge ecosystem and will survive without SBF.

I saw that over 18 million SOL tokens are due to be unstaked within 24 hours. A large amount of these could be Alameda's holdings and they'll need to sell to try cover their liabilities.

All Sam coins are currently getting crushed (FFT, SRM, RAY, SOL). Seemingly due to Alameda exiting their positions, coupled with overall market panic

Losing a market maker for a token like SOL is going to cause massive pain for the next little while though, these type of events are not recovered from quickly. Could also struggle to ever reach new highs, especially since Alameda/SBF were the ones driving it so high during the last bull.

 

[BACCS]

I like Ted's posts and when the rumours were circulating I saw him in disbelief that FTX would go down. I didn't believe it either, but the impact of losing 100% (or even 50%) of your stack for a 0.5% risk of an event occurring isn't worth it.

Where there's smoke...

The smart thing to do was to withdraw funds at the first sign of the rumours, and then redeposit once it had all settled (if desired).

Funny how the insolvency was self-fulfiling due to the FUD resulting in a bank run which revealed their liquid asset shortfall. Again rumour has it that it was a shortfall of $6B, and I'm also hearing now that binance might not go ahead with the acquisition

Yep, heard the 6B figure too. It’s why they were likely forced to reach out to Binance instead of trying to raise it themselves.

 

[LongBombFromOutside50]

Losing a market maker for a token like SOL is going to cause massive pain for the next little while though, these type of events are not recovered from quickly. Could also struggle to ever reach new highs, especially since Alameda/SBF were the ones driving it so high during the last bull.

I agree with you. From a price perspective it might be difficult to reach all time highs again. But the blockchain and ecosystem itself isn't going anywhere

 

[BACCS]

Lots of sell pressure to come, including the 18M that is unstaked within 24 hours

 

[BACCS]

 

[LongBombFromOutside50]

The number of landmines this bear market has been insane:

• Terra
• Celsius
• 3AC
• FTX

Just surviving for the next bull run will be a great achievement. FMD

 

[Evolved1]

The number of landmines this bear market has been insane:

• Terra
• Celsius
• 3AC
• FTX

Every crypto bear market has an insane number of landmines. Bull runs too, but the landmines are easier to ignore when we're all getting rich.

Just surviving for the next bull run will be a great achievement. FMD

The strong survive. You're certainly on the right track.

 

[BACCS]

 

[BACCS]

There is a doco on Amazon about Shkreli if you don’t know who he is

 

[BACCS]

Have some additional bits of info from a legitimate and trustworthy source if you’re interested over DM Evolved1 LongBombFromOutside50

 

[The Dice Man]

Have some additional bits of info from a legitimate and trustworthy source if you’re interested over DM Evolved1 LongBombFromOutside50

Oh come on now!

 

[ash_1050]

BTC down 20% over the last 7 days. Interesting times, and a great time to accumulate if you're a long term believer.