MISC Crypto Crew (MCC) Vol: XV: Getting Zucked into the Metaverse

[2020Wellness]

CZ did, indeed, pull out.

[Bluestar92]

Is anything fundamentally wrong with btc besides the panic selling? About to place a huge order...

My post in the previous thread from March 12th, 2020 when BTC dropped from 10K to 3K in a couple days.

For the new folks, this week is like Déjà vu. The arguments for bitcoin are as strong as ever. What you are seeing is a decline in all equities and irresponsibility of large crypto institutions over leveraging themselves coupled with the volatile nature of crypto. Nobody will regret buying at these prices in 1 year.

For the record I'm calling a 11.5K bottom as I think there will be more firms go under. I think microstrategy is safe until 3.5K but I could be wrong.

[JeffPesos]

Solana now on that suicide hotline at the top of the subreddit time

[RobParks2M]

It is a non-binding letter of intent. Basically allows FTX to open their books fully to Binance and they can scour them for any surprises or reasons to skip acquiring. It is a win for both partiies. Binance might pick up a solid platform that bit off more than they could chew and ftx gets an easy source of liquidity to fend off an obvious and known short attack. The news alone should keep margin call short attempts from continuing unless Binance finds something such evidence of ponzi-like maneuvers or the extent of their overleveraged positions are too great for binance to manage even with their combined assets. I'm sure those would be some of the first questions answered when the numbers were being crunched before the LOI was signed so I think it would be shocking if that proved to be the case unless it is some sort of move on the part of FTX to simply fend off the short attack to buy time for an alternate deal to be completed or alternate funding sources to be found.

Wow. That was fast. Literally looked for maybe 24 hours and said nah we gucci lmao FTX in fukkin shambles

[Tomiesto]

lmao there's no point in swimming against the current anymore, imma just get a job

(first time since August 2019)

thx crypto it's been fun, see you in a few yrs

[ApeMode666]

I love it when the majority of ppl keep saying they bottom is not in...you in fact will not know when the bottom is in. And if you haven't been DCA-ing in last couple months on the big dips/drawdowns I have some bad news. They get eaten up by smart money. Keep waiting for that 13k btc or god forbid sub 10k btc and you'll be holding your dink telling yourself "the bottom is not in" r-r-rrrrright guise when the bottom was in fact in.

Last bear I was stacking btc at 3k and eth at 100...not bc anyone knew it was the bottom....but bc I was DCA-ing and knew the R/R. Greed goes both ways.

Congrats on DCAing on the "big dips/drawdowns" you really nailed the bottom, hopefully you have some ammo left when the dust settles and the real acoomulation period sets in. In the future when BTC reclaims 30k I'll be able to trade the same position size as your "epic DCA buy in" for same amount on 10x leverage without sitting underwater for a few years. This is a traders environment, (bag)hodlers are loosers

[2020Wellness]

Congrats on DCAing on the "big dips/drawdowns" you really nailed the bottom, hopefully you have some ammo left when the dust settles and the real acoomulation period sets in. In the future when BTC reclaims 30k I'll be able to trade the same position size as your "epic DCA buy in" for same amount on 10x leverage without sitting underwater for a few years. This is a traders environment, (bag)hodlers are loosers

Horse has a good strategy. It’s easy to talk like you are after the fact. Chill.

[Mogambo]

My post in the previous thread from March 12th, 2020 when BTC dropped from 10K to 3K in a couple days.

For the new folks, this week is like Déjà vu. The arguments for bitcoin are as strong as ever. What you are seeing is a decline in all equities and irresponsibility of large crypto institutions over leveraging themselves coupled with the volatile nature of crypto. Nobody will regret buying at these prices in 1 year.

For the record I'm calling a 11.5K bottom as I think there will be more firms go under. I think microstrategy is safe until 3.5K but I could be wrong.

There's still a debate over BTC?

[ghostfacedup]

Just a reminder that crypto is ALLL TRASH except for BTC, all of it. Again and again we see the same chit, and now the gov't is going to get involved after this latest catastrophe....but gov't has already said BTC is not a security, and it's the only one that's worth a ****. Good luck all.

[Bluestar92]

This 100%. Fuk everything else. Centralized chit coins everywhere but BTC.

I don't think FTX is the last CEX to fail. I also think during this bear market you can make some nice BTC ratio gains on DEX coins like UNI. If you look at the DEXs/BTC pair the losses haven't been nearly as bad as most alts.

[ProteinEnough]

I don't think FTX is the last CEX to fail. I also think during this bear market you can make some nice BTC ratio gains on DEX coins like UNI. If you look at the DEXs/BTC pair the losses haven't been nearly as bad as most alts.

Oh I'm still going to accumulate alt coins when their BTC ratio gets wrecked but the team is still building. I just use them though to build the BTC stack come bull time

[ApeMode666]

Just a reminder that crypto is ALLL TRASH except for BTC, all of it. Again and again we see the same chit, and now the gov't is going to get involved after this latest catastrophe....but gov't has already said BTC is not a security, and it's the only one that's worth a ****. Good luck all.

BTC does nothing, it's proof of concept and that's about it

ETH has more potential upside, BTC hit new yearly lows and ETH didn't break 1k. At this rate ETH will be number one in market cap by next cycle, but if you want to ride with the geriatrics like Saylor then that's on you.

[SUCIO]

SBF resigned and FTX filed for chapter 11 bankruptcy…Hope no one here had too much of their port on FTX

https://www.cnbc.com/2022/11/11/sam-...ankruptcy.html

[GreatReset1]

LOL @ Coincels...

[malashker]

LOL @ Coincels...

In 3 to 4 years

* lol at nocoiners

[mcdojo]

Crypto.com accidentally sent $400m of eth to the wrong recipient. Luckily they got it back, but imagine the sheer incompetence. That by itself could have potentially bankrupted them especially if they got bankrunned at the same time.

https://www.theverge.com/2022/11/13/...ipent-ethereum

[SUCIO]

Crypto.com accidentally sent $400m of eth to the wrong recipient. Luckily they got it back, but imagine the sheer incompetence. That by itself could have potentially bankrupted them especially if they got bankrunned at the same time.

https://www.theverge.com/2022/11/13/...ipent-ethereum

Several exchanges were sending big sums around to take the screenshots as proof of the reserves. To be honest I wouldn’t be surprised if most of them are smoke and mirrors like FTX. Crypto.com also has bigger issues with the whole gala scandal that people were arbing. Lots of people got their accts frozen and are being asked to repay the arb gains

[Grinners]

So I will sell 5% of my position at each of the following:
$26,000
$33,800
$44,000
$57,000
$74,000
$96,500
$125,000
$163,000
$212,000
$275,000
... etc etc).

Congrats all those who understood what Bitcoin is and are still herehighly advise against doing this:

You'll suffer a grinners' decay of 47% after 9 iterations of 30% ATHs.

At $275,000, the grinner's decay is $3.9m compared to someone that just holds (for an initial investment of $1m).



My method is similar to the method someone mentioned earlier, only take out a % for life changing events (sick family member, something that will genuinely help you achieve self actualisation, cancer treatment etc).

My structure is as follows:
- 10% can be sold only for personal desires and ambitions of significance (i.e. exposure to something, filling a hole in life etc). Not bull**** purchases like cars or a wedding.
- 40% only for significant life changing events (i.e. I get prostate cancer or immediate family member gets a terminal illness).
- 50% to be unsold and taken to the grave. This seems irrational but it will be my BTC high score in life.

2 years on from the above post:

Stuck to the plan (with a slight adjustment) having sold 5% of my bitcoin every 20% increase in price over all time high to rebalance/diversify into index funds.
Previous ATH = $20k

Sold:
5% at $24,000
5% at $28,800
5% at $34,500
5% at $41,500
5% at $50,000
5% at $60,000

I am now heavily repurchasing bitcoin, and will again lighten my load to diversify into index funds in the next bull run.

I will continue to sell as per the above plan (selling a 5% position every time price increases by 20% over the previous sale price) resulting in a sale position of:

5% at $72,000
5% at $86,400
5% at $104,000
5% at $124,500
5% at $150,000
5% at $179,000
5% at $215,000


Bitcoin the is biggest evolution in money in a thousand years - understand that it is the invention of digital scarcity, and the most scarce asset the world has ever seen.

Don't be filled with regret in years to come that you knew about Bitcoin and tried to beat the market with fancy trading or decided to play roulette with alts and wound up with no Bitcoin.

Congrats all those who understood what Bitcoin is and are still here. This is your opportunity. See you again in 2024 at the next halving to do this all over again!

[ghostfacedup]

FTX should show anyone with a brain that Bitcoin is the only thing worth a chit in this space. Everything else is a bunch of soy infused tech goys/boys trying to scam people by saying they have "new tech" lol, it's laughable. Vitalik is a freaking dork, anyone who listens to his trash is an imbecile. Ride ETH to the moon if you want, but make sure to dump it. Hold BTC, Gold, guns, and food when everything goes to **** and the woke libtards ruin everything in society.

[Horse86]

Lol'd at this for some reason.

even funnier now that it was accurate.

stay safe FTT brahs

[Horse86]

Congrats on DCAing on the "big dips/drawdowns" you really nailed the bottom, hopefully you have some ammo left when the dust settles and the real acoomulation period sets in. In the future when BTC reclaims 30k I'll be able to trade the same position size as your "epic DCA buy in" for same amount on 10x leverage without sitting underwater for a few years. This is a traders environment, (bag)hodlers are loosers

lmao like lmao....I was buying since in 17s. Think I give 2 chits about catching the scam wick another 1.5k down? This dude has been waiting to post this for 1.5k lol. Show me where btc hit 13k...or 10k?

> He thinks I care about a better 1.5k price.

> I bought link at ICO...link alone is early retirement. Get back in your cage wagie.

You'll get wrecked playing leverage with daddy's money. In b4 all my DCA'ing in the mid teens allows me to buy another vacation home.

[ApeMode666]

lmao like lmao....I was buying since in 17s. Think I give 2 chits about catching the scam wick another 1.5k down? This dude has been waiting to post this for 1.5k lol. Show me where btc hit 13k...or 10k?

> He thinks I care about a better 1.5k price.

> I bought link at ICO...link alone is early retirement.

nobody cares how cool you say you are or how much you think you are better than others, likely you're a dork sporting S&P and selling cologne

BTC is like riding on a horse and buggy when there's a Ferrari in next parking spot ready for the taking

had many ****coins like LINK and others for pennies on the dollar and rode them up to the top

nobody cares crypto money is easy to make harder to keep if you don't know how to trade well.

leverage is just another tool in the arsenal, give an ape (you) a hammer and a box of nails he won't know how to build a house.

stick to what you know (bag hodling) and pray for another bull run sometime in the next decade for your sake PA man

I'll be back to rub it in your face when the new lows come and the acoomulation period sets in for real

[malashker]

nobody cares how cool you say you are or how much you think you are better than others, likely you're a dork sporting S&P and selling cologne

BTC is like riding on a horse and buggy when there's a Ferrari in next parking spot ready for the taking

had many ****coins like LINK and others for pennies on the dollar and rode them up to the top

nobody cares crypto money is easy to make harder to keep if you don't know how to trade well.

leverage is just another tool in the arsenal, give an ape (you) a hammer and a box of nails he won't know how to build a house.

stick to what you know (bag hodling) and pray for another bull run sometime in the next decade for your sake PA man

I'll be back to rub it in your face when the new lows come and the acoomulation period sets in for real

I’m an investor and trader myself and I’m pretty sure hodlers outperform traders over long period of time. Only issue is when they don’t take profits and bag hold it all way down.

[ProudKraut]

Thoughts on crypto.com? Will they go down? Potential moonshot on CRO if they survive.

What about SOL? I'm hearing they keep getting hacked / have to reset the chain. Ded?

[Horse86]

nobody cares how cool you say you are or how much you think you are better than others, likely you're a dork sporting S&P and selling cologne

BTC is like riding on a horse and buggy when there's a Ferrari in next parking spot ready for the taking

had many ****coins like LINK and others for pennies on the dollar and rode them up to the top

nobody cares crypto money is easy to make harder to keep if you don't know how to trade well.

leverage is just another tool in the arsenal, give an ape (you) a hammer and a box of nails he won't know how to build a house.

stick to what you know (bag hodling) and pray for another bull run sometime in the next decade for your sake PA man

I'll be back to rub it in your face when the new lows come and the acoomulation period sets in for real

nobody in here gives a chit about your .02 new guy. Your takes are literal garbage. Calling link a chit coin when it literally IS defi and the backbone of the 4IR and Web3 .20 to $52.....cope harder.

[Horse86]

I’m an investor and trader myself and I’m pretty sure hodlers outperform traders over long period of time. Only issue is when they don’t take profits and bag hold it all way down.

you would be correct. New guy ape thinks his cool leveraging daddy's money bc he can't afford even 1 full btc.

[Contribution05]

Gemini exchange just sent out an email that it's partner company Genesis wont be able to meet the 5 day withdrawal timeline for customers who were in the "earn" program.

That sounds extremely bad and there could be more companies going down.

[ApeMode666]

you would be correct. New guy ape thinks his cool leveraging daddy's money bc he can't afford even 1 full btc.

bought BTC back in 2013-14 for a few hundred bucks, it's old news guy. Had so many perma banned alt accounts on this site that I lost track, been miscing since 06'.

My father has been dead for 15 years and counting, sorry you never learned how to trade and just bag hold, some of us ain't about that life

[Horse86]

bought BTC back in 2013-14 for a few hundred bucks, it's old news guy. Had so many perma banned alt accounts on this site that I lost track, been miscing since 06'.

My father has been dead for 15 years and counting, sorry you never learned how to trade and just bag hold, some of us ain't about that life

never saw so much BS crammed into one post. Doesn't surprise me....you sir take the cake permaban ape

[ApeMode666]

never saw so much BS crammed into one post. Doesn't surprise me....you sir take the cake permaban ape

tristan trouble, captain horseboy, etc. were around in my early days

BTC is old news, only thing worth doing with it now is trading it. Store of value, p2p cash, inflation hedge, has failed in all these regards. Proof of concept dino coin has little utility. Keep drinkin that maxi kool aid, I'll load up on ETH and do multiples of your returns next cycle. Look how it has performed since June, hasn't even broke the yearly lows while BTC has made a new one.

It's all a fugzai anyways, have fun drowning in tokens until the market finally gets to your preferred exit point