Was reading some of the comments in the Celsius subreddit and there are some desperate cases in there. People who have their life saving stuck in there. One fella who has his wife's retirement fund in there. Some way to learn a lesson.
Reading countless comments from people who poured their life savings, kid's college funds, etc into it
Ironically the "don't trust banks" crowd, who have been so busy peddling their own crypto banks, have run into issues that could attract a lot of scrutiny from national regulators. It's like crypto is stumbling through all the basic lessons we've learnt from finance a century or more ago.
**** it, I'm happy if they regulate the crap out of this.
Will probably send us on a parabolic rally if it is regulated
crypto is a ponzi scheme?
who'd have guessed, eh?
Maybe, although I feel systematic regulation of crypto could spell an end to the mad swings, which is main appeal of crypto in the first place.
Anyway, just for a laugh I'd love to see a regulatory audit of some of these crypto "institutions", seasoned risk analysts discovering the atypical handful of hipster "owners" having full access to billions in client funds with absolutely no oversight.
Funny how people like your self only come out when the price is down. We'll we hear from you during the next rally?
Word is 3AC are in big trouble,
Might have to dump all holdings, this will drive the market down even more
In 2018, after a series of drop after drop, we had a calm period, where everything rose gradually and calmly for around a month, then the bottom really fell out. Will be curious to see if that happens this time around.
Fed rate decision at 7 pm tonight. Looks like it might go for 0.75% after previously signalling 0.5%. If it goes at the higher end it should have an effect on equities and you would expect crypto too. Bitcoin to go below $20k shortly after (if it doesn't get there before)?
75 has already been leaked, and is believed the markets have already taken this into account, the only real concern for bitcoin/eth at the minute seems to be the Celsius saga, hopefully for those affected in that area they don't lose everything.
There was talk of 100 basis points, so the fed decision tonight will be interesting.
If it's regulated it will add legitimacy to it so I would prefer if it wasn't.
I would like to see the service providers sued to oblivion for fraudulent misrepresentation.
Pretty sure cryto would die off almost immediately if it was regulated, its market manipuation en masse that drives up the value of most coins with regular pump and dumps, loads of insider trading, all the PR and hype lies being legally accountable plus having to actually justify valuations and have business plans for what they claim their coin is good for would make nearly all of it fall flat on it's face, Bitcoin might survive as its such a global brand but at what value, who knows.
75 basis points increased.
You actually see comments like that all the time regardless of the price. You probably just don't much pass on them when things are booming, or else the poster is dismissed as a "no coiner" or similar.
All I would like to say is its all for good.
According to Schiff "2 trillion down, just 1 trillion to go to zero"
Gold bugs are almost as annoying as crypto bros.
Another rough day for BTC. Fell to €19,410 earlier. Could it test 10k next week?
Could actually mean quite the contrary, regulation could be deemed another step towards mainstream adoption, therefore driving the price up, would also mean less risk which attracts investors, regulation could be the cause of next ATH
The question would be why regulate the competition? CBDC’s are not a bad idea for stable coins but would you want to be forced to use them in the local currency in countries like Turkey with hyper inflation and the EU won’t want it’s citizens using dollar backed stable coins. Under KYC the exchanges have to be transparent with the local government so they have to report what you have too. It might lead to defi taking off way more.
Three arrows capital looking at liquidations, blockfi “working” with them on their call limit.
That’s true but not for the reason you think
This could get very very messy now. Any coins locked up in high yield interest staking schemes should now be considered lost.
If you're wrong will you close account and open new one...
Interesting, over the last month, BTC and ETH are performing worse than e.g. BNB and ADA. Very strange to see, usually in any bear, everything forms an orderly line behind BTC.
Absolute carnage. And my stocks are tanking too.
That being said, I had already told myself my crypto was lost money. I invested 1k in the 2017 peak and saw it drop to something like, 150. Then it grew to over 2400 at one stage and now its probably at something like 700.
Feel sorry for anyone who went in bigly at the ath. I know how I felt when it tanked in 2017.
Not sure where else to put this, but is there are thread or HEX or other Richard Heart projects?
I'm heavy in crypto for the past 18 months, made a lot of paper gains, lost them all again, but not worried in the slightest. Awaiting the next bull run in 2024/5. This time, lesson learned, I'll cash out and realise some profits...
BTC dipping below 20k seems to be a trigger for more selling. Is 10k on the horizon?
![Photo of [Deleted User]](https://w5.vanillicon.com/v2/5dc0c82bb5d5c9e7a358d7971a18240f.svg)
![Photo of [Deleted User]](https://w8.vanillicon.com/v2/877aa92d1fda3704e03b5aa206affea2.svg)
![Photo of [Deleted User]](https://w2.vanillicon.com/v2/2b6abd1dfa48dd1de9143b108494281e.svg)
![Photo of [Deleted User]](https://w0.vanillicon.com/v2/0c95fbacfd3f8db330cceee65321bca3.svg)
