Altcoins Talks - Cryptocurrency Forum

Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: TomPluz on November 11, 2022, 03:54:29 AM

Title: An Era of Sorrow for Crypto
Post by: TomPluz on November 11, 2022, 03:54:29 AM


The year 2022 will surely be known in its history to the year of sorrow as we have witnesses the collapse of many well-known platforms that were then serving a lot of people somehow involved with cryptocurrency. Three of these are: Celcius, BlockFi, Tera and FTX.

What happened can be staggering loss for many big and small investors, traders and holders. So what caused this tragedies to come upon an industry we trusted and even touted to be the savior of our money, finance and banking.

Two words: GREED and just plain STUPID MANAGEMENT!



(https://pbs.twimg.com/media/FhM5iITWAAA-tAK?format=jpg&name=small)

Title: Re: An Era of Sorrow for Crypto
Post by: gunhell16 on November 11, 2022, 07:36:58 AM
I think that the situation of FTX in Terra Luna is not the same, because we all know here that due to Kwon's sudden withdrawal of a large amount, the reason why its volume price fell completely in the market before it happened decreased in its value. With FTX, that's not why its value fell in the market.

But I don't disagree with what you said about the greed and stupidity of other people in this industry. I also think that the greed for money will never go away in the world of cryptocurrency.
Title: Re: An Era of Sorrow for Crypto
Post by: Speaker on November 11, 2022, 10:24:47 AM
When confidence is replaced by self-confidence and you think that if you are the third exchange in the world, then you can manipulate depositors' funds, create a liquidity crisis and no one will notice... but it doesn't work that way.
Title: Re: An Era of Sorrow for Crypto
Post by: Probal Deep Moran on November 23, 2022, 06:09:00 AM
Blockchain games, however, take a different approach by offering a decentralized model that enables players to own their game data and use it across other blockchain games/networks. For instance, a player may opt to bring in-game items such as weapons and XP from one blockchain game to another or sell/trade them in open marketplaces.
#Pawsome #NFTMarketplace #NFT #foxcampaigns #qie #qiblockchain
Title: Re: An Era of Sorrow for Crypto
Post by: Senin on November 23, 2022, 09:58:32 AM
It is most likely not the greed of people that leads to a periodic fall in cryptocurrencies that seemed promising for the development, but the herd feeling when they follow the crowd. In finance, this should not work. Here the situation largely depends on the advertising of the product and the rush demand created on the basis of it. Of course, it is difficult to resist mass psychosis. But you need to learn this and develop your attitude towards each cryptocurrency and the prospect of its growth.
Of course, there are many other factors involved as well. But this is probably the main one.
Title: Re: An Era of Sorrow for Crypto
Post by: Jaephoenix on November 23, 2022, 05:44:15 PM
If (and that is a big if) crypto survives 2022, then it would have withstood the biggest threat to its early teenage life, which has been a topsy turvy life. It would show maturity and strength in life. And what is the picture of Jonah Hill doing in your post? Were you intending to post Sam Bankman-Fried's picture?
Title: Re: An Era of Sorrow for Crypto
Post by: Alcor on December 14, 2022, 02:04:21 PM
Quote from: Jaephoenix on November 23, 2022, 05:44:15 PM
If (and that is a big if) crypto survives 2022, then it would have withstood the biggest threat to its early teenage life, which has been a topsy turvy life. It would show maturity and strength in life.
Cryptocurrency has experienced various difficulties in its short period of existence. Undoubtedly, it will survive the fall of the FTX exchange, and many other similar problems. However, it may well be that due to this negative incident, the current crypto winter may continue for some time. In addition, states can use this case to more strictly regulate the circulation of cryptocurrencies. And such calls are already heard from some politicians.
Title: Re: An Era of Sorrow for Crypto
Post by: Phonometer on January 10, 2023, 09:03:49 AM
Crypto is experiencing its all time defame. I think the creators of popular systems have forgotten to manage the system properly.