[Daily Discussion] – Friday, November 11, 2022

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[Daily Discussion] - Friday, November 11, 2022

17 thoughts on “[Daily Discussion] – Friday, November 11, 2022”

  1. Some great insights here on trading, remember to never use stop losses https://twitter.com/ApeDurden/status/1590912098871435265

  2. really hope you guys are out of genesis, gemini, ftx.us, kucoin and blockfi

    if not, get out now

  3. Wow, don’t know if this has been posted already, but Alameda CEO with a frankly terrible look. Enough cringe to make The Office proud.

  4. Hester Pierce was on Bloomberg today and said FTX collapse was partially the SEC’s fault because their clarity and rules regarding crypto are weakly defined and barely enforced.

    If only a current Commissioner of the SEC, like Hester Pierce, was able to rectify any of this. 🙄 😛

  5. This whole debacle has likely set back crypto adoption by years.

    It’s crazy to me that people are still discussing PA here. The entire space is falling down around us in real time and you’re still looking at triangles. This is so much worse than gox it’s not even funny.

    FTX international goes down, FTX.us goes down, blockfi goes down as a result, now we’ve got at least kucoin/gemini/genesis up on the chopping block and god knows what else. Who is ever going to trust a crypto exchange again after this? Who will want to be involved in this space when half the people in it are confirmed to be running ponzi schemes? or involved in one by proxy?

    This shit is depressing, for real. There was so much progress made (trust, clarity, users) in this space over the last few years and we’ve wiped it all out and then some. We aren’t evolving at all, we’re going backwards at an alarming pace.

    DCA bitcoin and disappear, that’s really all that’s left.

    Sorry for the rant, but, fuck.

  6. All these shenanigans reminds me of Bernie Madoff and his 65 billion loss. As Mark Twain said “History doesn’t repeat itself, but it often rhymes..” 🙄

  7. The longer we keep at these low prices. The more time I have to earn money from work and put into btc.

    I wonder how many will actually back up their comments when they say “oh I’ll buy btc if it hits X price”

    More than likely they won’t as they’ll be too worried the price will go much lower, so will not pull the trigger and then most likely miss out.

    I will continue to buy and have bought btc from $3k to $40k and still buying now.

    The only time I sold any btc was around the $50k area to lock in profits (tax reasons) and for a home deposit last year.

  8. I think it’s pretty impressive how the “market” recognized a weakness (the Alameda balance sheet) and ended this whole charade in such a short time. In the end, it’s one less bad actor and we can be more optimistic about the future.

  9. If you’re selling here you’re expecting to buy back lower.

    There isn’t much lower left.

    Edit: I’ve drawn some lines on some charts, consulted the planets, stirred the tea leaves. Shit bout to get poppin in half hour either way.

  10. It has been 10 hours since BlockFi tweeted that they are halting withdrawals and requesting clients not to deposit, yet there is still no announcement on their website when you log in.

  11. All that matters now is how much more this spreads. Who else was exposed to FTT and FTX, can they survive, and also who else gets liquidated simply due to lower BTC price.

    So far it is still spreading. It is vital to contain this or we will trigger a second miner capitulation or retail capitulation. For now they are still holding.

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