[Daily Discussion] – Thursday, November 10, 2022

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[Daily Discussion] - Thursday, November 10, 2022

27 thoughts on “[Daily Discussion] – Thursday, November 10, 2022”

  1. So, is the bottom in now? Or are we going to crab along here for the next few months like we did from June’s dump?

  2. I’m with /u/thewardser and/or Bob Loukas on this one. I fully expect a near carbon copy of December 2018 sooner or later, a final true capitulation event down to $10K or similar. The CME gap meme, the psychologically-important $10K level, the 4-year cycle, the timing of FTX collapse, it’s just too perfect.

    At that point, people will start buying and holding for keeps. Holding 1 whole bitcoin will become distinctly possible for many people with that goal. And hopefully more people will stop storing coins on exchanges, stop the irresponsible leverage gambling, stop the shitcoin casino, stop looking for ‘yield’ in crypto entirely. Eight years ago, anyone in crypto purporting to offer interest on holdings was laughed off as a scammer. Any Bitcoin OG knows that they’re still scammers.

    Gensler and company really need to stop twiddling their thumbs if crypto is ever to be taken seriously. Force proof-of-reserves. Force stablecoin audits. Stop rejecting a spot Bitcoin ETF under the guise of protecting investors, while allowing shit like ShibaMarsElonIsGodCoin to exist. Deal with the whole ‘unregistered securities’ issue already. They’ve been sitting on their asses for years now with this. They’re not anti-crypto, but they sit back and allow bad actors to rot the industry.

    2023 will play out like 2019, IMHO. A mini-bull run in the first half, or after the above capitulation event anyway, followed by a mini-bear run heading into the next halving. It’s going to be a long year. 2024 will be considerably better.

  3. how low does it need to go today to break 2000 comments? Lets pump those numbers!

  4. If you’re on twitter, check out @AutismCapital. It’s an account following the SBF / FTX saga, with rumored leaks or connections from inside FTX. It’s all very “trust me bro”, but it’s an interesting read if you’re looking for insider gossip about the whole thing.

  5. So what’s wrong with Sol? If there isn’t anything inherently wrong with it and it is mostly speculation, you could take a risk and long it on Deribit for daily compound interest rate of 14% LOL. That’s 150% a week. No way the rate will last that long, of course. It’ll either die or recover and go back to normal before that.

  6. Can we get a ban on this guy please? Agreed to be banned if he was wrong and spammed the thread with his confident prediction every day. Failure should be punished.

    ad-hominem-nomnom:

    > Well yeah, I meant that 17k on the 18th of June, which I called as the bottom on the day and every day since.

    > Will continue to call it until 30k. Will accept a ban if wrong (but think that would be mean spirited tbh)

  7. This has been a hell of a ride. Looking for a drop to 10k at some point in the coming weeks, months, but I don’t think it will be there too long. I think we’re getting really close to the bottom, given market sentiment. In 23 we likely get fed pivot, some geopolitical improvements. Stay strong everyone.

  8. Generational buying opportunity. Meanwhile a Wall Street acquaintance of mine is back again giving me the “I told you so!” crap.

    He’s been salty ever since I told him to buy BTC at $300. Still sits on the sidelines and only comes out at times like this.

  9. given previous highs, fundamentals and overall development of market. 19k were good entries. 16k is a godsend. if you’re not willing to switch to canned meals, mortgage your house and trade car for a bicycle, you’re doing crypto wrong. this is the time to be accumulating.

  10. Nice little recovery, but with the Americans starting to wake up and the NYSE opening in 30 mins we might we’ll see a downturn soon

  11. Considering everything that’s happening right now with FTX, and also with the potential for others to be dragged down by it, I’m impressed by the fact that we’re inching back toward 17k.

    Please protect yourself.

    Move keys to any coins you’re holding for longer than a week off of exchanges. Even exchanges you trust. There are too many unknowns right now, so precaution is your best bet.

    Get a hardware wallet if you don’t already have one. I personally recommend a Ledger Nano S Plus (or a Trezor, though I have no experience with Trezor wallets. Basically, buy a very well known product with a huge userbase. Ledger or Trezor).

    If you don’t have experience with hardware wallets yet, buy one but don’t use it immediately! Spend a day messing with it. Start with a new seed phrase even if you already have one, and spend time learning how it all works. The point is to become as comfortable as possible before you use your own seed phrase on that wallet – and if you don’t have a seed phrase yet, spend time experimenting with the first one the wallet randomly assigns you, then wipe it out and start over with a new one.

    Again, the point is to learn the device thoroughly before you move your coins to it. Learn, learn, learn. Play with the software. Dig through the menus. LEARN.

    The best time to protect yourself was the day you got started with Bitcoin… but the next-best day is today. So do it. Your future self will thank you.

    To me, the craziest part of the FTX collapse is how people watched Voyager collapse and thought it was a one time thing, even though it happened before and will happen again. And now that it has happened again, I’m telling you that FTX will not be the last to fall.

    Owning crypto means being your own bank.

    Secure your coins.

  12. Cute rally, but I’m going to be disciplined today (famous last words I know). CPI figures coming out later, which could easily facilitate a turbo dump. FTX is a dumpster fire, some shitcoiner cutting deals won’t save them. Let me know if I’m way off

  13. Got liquidated in Blockfi, definitely not expecting btc to reach 15k months ago when it was around 33k. I knew the theory but I guess you have to learn from your mistakes. Now I’m wishing for the price to reach 4 digits to buy ans of course there’s no way to know if that’s going to happen.

  14. BBC radio 2 news bulletins are mentioning ftx probably folding as Binance have pulled out of rescue deal. Vary rare to hear this sort of thing mentioned on Radio 2, in fact it’s the first time I have heard any mention of crypto on Radio 2 news. It wasn’t filler tagged on at the end, it was mid bulletin.

    A bit off topic I know but it just shows how big a deal this is.

  15. Can I just say I’m loving this?

    After so long of nothing any movement at all is genuinely exciting, even if I’m getting rekt lmao

  16. FTX’s former head of institutional sales is spiling the beans on Twitter, if anyone is interested in gory details https://nitter.ca/tackettzane/with_replies

  17. https://i.gyazo.com/67e0d3fb11e8a21eb4ecac79a6c5a100.png

    Interesting thing I have found. USDC/DAI lending APY is <1% at Compound, while USDT is currently 33%.

    https://twitter.com/astro__magic/status/1590659328390094849

  18. Alameda shorting USDT causing it to depeg. Amazing to me that they’re STILL operating even after all this has come out. Just keep digging you’re grave Sam you fucking idiot.

  19. This is the first ever time I am considering quitting crypto. Lost a few percent of NW on FTX so technically no big deal but it’s done a number on me.

    Still holding a stash of BTC, the money on FTX was just a short, but fucking hell.

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