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Gizmodo: Crypto Platforms Are Halting Withdrawals as Bitcoin Tanks Over 13%
- Thread starter Teh_Lurv
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You know what would be funny and bullshit if someone moved their coins from a hardware wallet to an exchange to sell it off only for the exchange to lock down transactions moments later.
How's that one country that switched to bitcoin or whatever doing now?
I'm glad it's tanking though. I have a tiny bit of money in crypto as like a lottery what-if thing but I wouldn't be sad to lose that if it also fucked over all the cryto bros and made it go away forever. Losing my investment is definitely worth never hearing about crypto or NFTs again.
I'm glad it's tanking though. I have a tiny bit of money in crypto as like a lottery what-if thing but I wouldn't be sad to lose that if it also fucked over all the cryto bros and made it go away forever. Losing my investment is definitely worth never hearing about crypto or NFTs again.
Crypto bros during the bull-run: "Centralized exchanges like Celsius/Coinbase/whatever are great because they lower the barrier to entry and help with mass adoption of crypto!"
Crypto bros now: "This wasn't *really* DeFi. You should have known the risks from using a centralized exchange. Not your keys, not your coins!"
Crypto bros now: "This wasn't *really* DeFi. You should have known the risks from using a centralized exchange. Not your keys, not your coins!"
Crypto bro convinced me to try bitcoin awhile back, put $500 in, was stoked in the first couple months as I made 20% back. Now it's at $230 worth lol. It was yolo money anyway. Now my actual stocks that are down 27%, not too pleased
Put in $500 of Biden stimulus money into some crypto and it's all tanked lol
My doggies are dead
But for a bit I went up $80 which was cool
My doggies are dead
But for a bit I went up $80 which was cool
Nayib Bukele Portfolio Tracker
A website tracking the amount of bitcoin (and value in USD) owned by Nayib Bukele (read: El Salvador).
nayibtracker.com
I like that they would just pile on anyone who was saying be careful or questioning the virtues/values of crypto and now they want all the sympathy. Nah man, it's roastin time.
All those "bought the dip" tweets, oof.Nayib Bukele Portfolio Tracker
A website tracking the amount of bitcoin (and value in USD) owned by Nayib Bukele (read: El Salvador).
So these people are basically fucked right? This "bank" has no obligation to actually honor their withdrawals as their money isn't protected at all?
This is all very wild to me as im not a finance bro but invest a lil here and there. Is there nothing in the fine print to save them?
This is all very wild to me as im not a finance bro but invest a lil here and there. Is there nothing in the fine print to save them?
No, they're completely at the mercy of the company and have little in the way of legal recourse.
The lack of government regulation is part of the value proposition of crypto, so don't feel bad for them; it's what they wanted.
Fun fact is that if BTC goes down to around $21k, Microstrategy will be forced to liquidate an insane number of tokens, which will make it crash further. Which would probably force them to liquidate more tokens, which will make it crash further.
Michael Saylor (MicroStrategy) Portfolio Tracker
A website tracking the amount of bitcoin (and value in USD) owned by Michael Saylor (read: MicroStrategy).
saylortracker.com
No your keys, not your cheese. Hopefully, the news about Coinbase and its TOS update, Celsius imploding (which bitcoiners like Cory Klippsten have been warning about for a year), and Binance freezing withdrawals yet again will impart this lesson. Btw, when it comes to bitcoin, there are non-KYC platforms where you can buy/sell/lend P2P. These platforms are Bisq, hodlhodl, and RoboSats. There are videos on how to use them on YouTube. Look them up (BTC Sessions channel is an excellent source). Centralized exchanges are not needed.
Nayib Bukele Portfolio Tracker
A website tracking the amount of bitcoin (and value in USD) owned by Nayib Bukele (read: El Salvador).
I can imagine a pool of sweat congregating in his ass crack.
"Buying the dip......
/buys 1 bitcoin"
Fun fact is that if BTC goes down to around $21k, Microstrategy will be forced to liquidate an insane number of tokens, which will make it crash further. Which would probably force them to liquidate more tokens, which will make it crash further.
Michael Saylor (MicroStrategy) Portfolio Tracker
A website tracking the amount of bitcoin (and value in USD) owned by Michael Saylor (read: MicroStrategy).
I mean his portfolio represents ~.5% of the total market cap. Their sell-off/collapse probably wouldn't do that much.
Now you're back at the problem of "how do we make crypto accesible to the general population?"
There was a reason practically everybody (including on Era and even the community thread) recommended that people new to crypto start off with the centralized exchanges. This was back during the bull run when times were good, of course. Now we're in the "this is your own fault, you really should have known better" stage of the cycle.
No. He has a leveraged position with Silvergate bank for a certain small (I think 10% or so) amount of his position. At 21k he'll get a margin call to add more BTC as collateral (which he already has, as he only used 10% or so for the margin).Fun fact is that if BTC goes down to around $21k, Microstrategy will be forced to liquidate an insane number of tokens, which will make it crash further. Which would probably force them to liquidate more tokens, which will make it crash further.
Michael Saylor (MicroStrategy) Portfolio Tracker
A website tracking the amount of bitcoin (and value in USD) owned by Michael Saylor (read: MicroStrategy).
He says his actual liquidation price would be around $3k but eh...yeah. I don't really see in what universe he wouldn't have bailed/been forced to bail on his position LONG before then.
Oof!! Yeah they are mega fucked
Excuse my ignorance, but the idea of halting withdrawals runs against the entire premise behind crypto...correct?
Is this intentional? Because it hilariously works on two levels given the news about Jay Z and Jack Dorsey's collab to try to trick poor people to get into Crypto.
I'm assuming people that buy the "dip" maybe? I dunno. Dummies either way though lol
It's almost as if it's all a massive Ponzi Scheme or something...
I deleted my Coinbase account a few days ago, but I agree. This is a lesson that some people learn down the line as they spend more time in this space. It's especially a lesson that some people will only finally take heed of when the overall market crashes really hard. I didn't even know about these non-KYC platforms till late last year. Like most Americans, 2021 was the year I dived into crypto.
Me.
Tesla stock is down 45% this year, same as Bitcoin coincidentally.
Pay money? Didn't you hear? Cryptocurrencies are legit currencies just like the dollar, the euro, the peso, you name it. The concept of "cashing out" doesn't really fit when they're holding cash themselves. Unless, of course, crypto is just a speculative asset at the end of the day.
Which would be CRAZY.
Here's to hoping it crashes even further. Hard for me to be sympathetic after crypto completely fucked and destroyed the GPU market for two years.
Coming up with more excuses to weasel out of his offer.
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What's with the Tamagotchi crossover? Not only the 25th anniversary Amazon exclusive and 20th anniversary re-release, but the Japanese GB Tamagotchi games? And weirdly DK and Megaman games?
What's the through-line?
This thread is gold. So much crow served.
In the FuckJerry News comments section on Instagram (which hosts a lot of shit heads) there's lots of posts saying "actually this is good buy the dip!"
Rofl yeah sure thing bud. I'll hold that bag for you
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