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Am I the one one who does not know nor care about any alternate, and does not give a rattling about FTX, Lunas, MtGox, and many others?

I generally really feel that I do not belong within the bitcoin neighborhood, since everybody appears so affected by FTX and alike conditions, besides me.

My bitcoin utilization is shopping for and preserving it in my {hardware} pockets.

I could not care much less if FTX or binance die, I do not purchase different shitcoins, and I do not commerce.

Plainly 99% of the neighborhood solely cares about these stuff which I discover completely irrelevante for the way forward for bitcoin.

I really feel {that a} shitstorm is occurring throughout me for causes I do not perceive.

Am I alone, silly, or lacking one thing? Ought to I be involved?

49 thoughts on “Am I the one one who does not know nor care about any alternate, and does not give a rattling about FTX, Lunas, MtGox, and many others?”

  1. I’m in the same boat, but a lot of people don’t understand what they are buying and leave all their coins on an exchange. So when a large exchange goes under it does effect the market.

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  2. Yes you should be concerned. The value of your Bitcoin is directly impacted by fraud committed by others because it threatens perception of stability in the market. You still have the same Bitcoin you started with it’s just worth less. If this continues, Bitcoin adoption by the masses will never happen.

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  3. Whilst everyone should hold their own keys the reality is that some people just aren’t comfortable taking that step and prefer to accept the counterparty risk of having a trusted third party custody their assets for them in exchange for avoiding the risk of human error causing them to lose their funds. Trusted exchanges are therefore necessary not only for buying but for storing for some people. The FTX debacle causes people to lose trust in exchanges and Bitcoin in general, slowing adoption and all the benefits people could be getting from being able to [buy bitcoin](https://www.coincorner.com/) and benefit from the only asset with a known fixed supply.

    Adam

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  4. Same. The signs were there all along. If you have to hand over your keys, you are GIVING AWAY your crypto. That’s all I need to know to identify a scam or fraud. Like, putting your crypto on FTX is the exact same thing as giving FTX your seed phrase. Who in their right mind would do that?

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  5. Who do you buy BTC through and who do you plan to sell to fiat through in the future. That is the only way all this might affect you.

    Keep stacking SATs and sleep well at night with it in your own wallet.

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  6. * Buy Bitcoin, send it to your own (hardware) wallet, then hold long term

    * Trying to time the market is gambling. Gambling is foolish. Fools and their money are soon parted

    * Don’t buy shit coins

    * Don’t use leverage

    * Don’t leave Bitcoin sitting on somebody else’s equipment

    * Don’t lend Bitcoin for interest

    * Don’t use Bitcoin as collateral for loans

    * Don’t say “crypto” when you mean “Bitcoin”

    * Don’t trust Wall St. Wall St. is not your friend

    * Don’t rely upon government “regulators”, regulations, laws

    * Properly back up your seed phrase

    * Maintain an emergency cash cushion

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  7. You’re not alone. You’re a Bitcoiner. People who care about all this other nonsense care about crypto, Web7, the metaverse and “the industry” whatever that means. Sounds like you just want to have sound money and ignore the noise. Good on you.

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  8. Yes, I feel the same way. I felt bad that I didn’t understand or know what an FTT token was when this all happened. I had never even heard of FTX before this. At first, I really felt I was falling behind but I have no interest in shitcoins, so I guess I don’t care.

    My workflow is very boring. I auto-buy from Coinbase twice per week. Every month I transfer to my cold wallet. Rinse and repeat. Boring is good. Boring is safe.

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  9. I’m with you. Unaffected accept positively by all of this (cheaper corn).

    HOWEVER: I do have friends who like to talk about these things, and I do find it interesting in the entertainment point of view. It isn’t fun hearing that people got duped lost money en-mass, but it is fun hearing all the gossip and seeing people finally start to get it.

    When I got in, Mt. Gox was a distant memory that I was never a part of. Coinbase was the pillar that people look to when they say “Mt. Gox” is in the past.

    My friends who bought Bitcoin will be affected if/when Coinbase goes under, so anything I can learn about in order to use as arsenal when convincing people to take custody is useful to me. People don’t care about facts, they care about how things feel, and if exchanges don’t feel unsafe, while taking custody does feel unsafe (because it is something new), then they will act based on their feelings. If big companies go under and this can shock people into re-evaluating their feelings, then I’m all for it.

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  10. I’ve never cared about any of those things. Since I discovered and learned about Bitcoin my eyes have been laser-focused on it. I buy Bitcoin and move it straight to my hard wallet because I know its value and its potential. Everything else is just noise and casino-like distraction, it’s all irrelevant to me.

    You’re definitely not alone.

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  11. NEW: FTX’s bankruptcy filing has just been released and it makes for shocking reading. Read more here: https://medium.com/p/c3842410a698
    Here are the latest developments and updates:

    SBF lent $1 billion to himself. Other employees embezzled millions too: Nishad Singh: $540m, Ryan Salame: $55m

    SBF has admitted that the “ethics stuff” was “mostly a front.”

    The mess at collapsed cryptocurrency exchange FTX is worse than the one at Enron. This is according to the ex-Enron CEO who is the new FTX CEO: “Never in my career have I seen such a complete failure of corporate controls.”

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  12. I feel like exchanges crashing – black swan style – would actually be a price benefit to BTC because the fake liquidity will get stripped from the system. They could die tomorrow and I’d be OK w it.

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  13. Eventually you need an exchange to sell for the most part. You may decide you need to sell some in 2026 for a down payment on a house. How would you feel if the exchange went bankrupt just after you transferred your BTC to sell? This can happen to anyone.

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  14. How much government regulation of Bitcoin do you want? Because when rich people lose money, regulation is not far behind.

    If you want wider adoption of Bitcoin you don’t want stories of people losing millions or billions in a scam, it scares people away.

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  15. I kind of celebrate it. The more corcumstances push defi the better. Because of FTX more people will take reaponsibility for their own coin. The more that happens the less cefi can manipulate, the less power they have over us. An exchange will never get a sniff of my ₿. I will spend it, p2p it or buy and transfer it to storage.

    Reply

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