Bitcoin....who's gotten into it?

[bennymac]

A Billion-Dollar Crypto Gaming Startup Promised Riches and Delivered Disaster
-Axie Infinity’s vision of a “play-to-earn” video game has crumbled, and the company behind it now tells the players who bought into the hype it was never about the money, anyway.

https://www.bloomberg.com/news/featu...ches-gave-ruin

"A financial system consisting of people all hoping to put in $1 and take out $2 can last only as long as someone else shows up believing others will come in after them with more fistfuls of cash. Once Axie began looking less profitable, its ability to draw new players decreased, making it even less profitable and setting off a vicious cycle. “Axie has just been this fascinating tale of people learning hard lessons of economics and monetary policy in microcosm,” says Doucet."

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Hmmm who was it on here telling us about how people in the third world were gonna get rich off play to earn crypto games?

[shera]

I have a SUBSTANTIAL portion of my bitcoin on Celsius. And half my chainlink. I guess I'm glad they halted withdrawals, get things sorted. I only have a tiny amount of the cel token, so that's the silver lining, ha.

[subtle plague]

[SIZE=4][B]A Billion-Dollar Crypto Gaming Startup Promised Riches and

Hmmm who was it on here telling us about how people in the third world were gonna get rich off play to earn crypto games?

Me. I also told you that wasting energy like a small to Medium country for lambos is actually pushing the World to clean energy.

I also believe that destroying all kinds of state control mechanisms and infrastructure will lead to Libertarianan anarchist crypto utopia! Just like El Salvador.

[neckdeep]

I have a SUBSTANTIAL portion of my bitcoin on Celsius. And half my chainlink. I guess I'm glad they halted withdrawals, get things sorted. I only have a tiny amount of the cel token, so that's the silver lining, ha.

Seriously?

The owner was lying his ass off about solvency just hours before shutting down and you still believe what he has to say now?

Read the fine print.

[Cono Este]

I sold algo at 1.80, now it’s at .30. I’m going to buy it back at .20 and probably lose .20.


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[shera]

I dunno, I'm just not freaking out. Not feeling emotional at all, watching everyone running around like chicken little. Maybe I've just been at it too long now. Maybe because I have a plan and I'm sticking to the plan. Anyway, just watching the show.

[shera]

I did my weekly chainlink buy this morning.

[Cono Este]

Sorry Shera, but I’m not sure how these crypto firms are regulated, if at all. If they have to separate customer assets from their own, if they are using their customer assets as collateral against the firms positions, but I’m sure if Bitcoin tanks enough we will find out.

Full disclose I bought a little coin in the last sell off and they could be doing the same.




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[leftfield]

I have a SUBSTANTIAL portion of my bitcoin on Celsius.

I sincerely hope you self-custody the rest. If you don't, you need to. Right now.

[byates1]

Re stablecoin, I use usdc for daily spending, earn a small .15% and also get back 1.5/2% BTC on every transaction. Coinbase debit card

I have a Coinbase one account, which is 30$ per month, no trading fees. Using that for a few more months as I move around 10/20k. Cheaper to pay the 30$ per month.

Moved some BTC into USD near this recent free fall, will buy back in lower and hold for 10 years.

Ppl said BTC was going to 20k before going to 100k. I'll take the accumulation window thank you..

[stalefish3169]

I have a SUBSTANTIAL portion of my bitcoin on Celsius. And half my chainlink. I guess I'm glad they halted withdrawals, get things sorted. I only have a tiny amount of the cel token, so that's the silver lining, ha.

Good luck with this, shera. Hope you get it back soon.

Sent from my Pixel 6 Pro using Tapatalk

[shera]

I am doing some self custody, mining into cold storage. The rest is on coinbase pro.

This Celsius liquidity issue seems to be related to the staked eth. I don't even own eth and I was really surprised when I learned that people were locking up their eth for staking before the staked code was even running. Sheesh. Why?

[schuss]

Yeah, if you own any crypto you're "pending" out, now's the time to pull it back as some of the card houses fall as I wouldn't trust that it ends up back with you as opposed to a VC or rogue founder.

[Timberridge]

I suppose it was fun while it lasted.

[simple]

I suppose it was fun while it lasted.

That's my entire world view. Now we are recycling the scraps of the explosion

[hatchgreenchile]

The Jim Cramer curse strikes again!

[Timberridge]

Moved some BTC into USD near this recent free fall, will buy back in lower and hold for 10 years

Odd turn of events as we were being told that the $ was fckd, and BTC was the new reserve currency of the future.

Maybe we go back to gold? That seems to have stood the test of time.

[Mustonen]

Been impressive to see BTC hold the 30k line.

This didn’t age well. But sniping notwithstanding…. What does “impressive” mean, here? Like, what did BTC do? How did it provide value? Or are you referring to the careful administration of the asset class? Or are you just referring to the fact that people bought it at $30k for “reasons,” many of them likely tied to superstitions around halving?

[neckdeep]

DeFi is the next rug pull and thanks to the fine print, it's 100% legal. Obviously, its a moral hazard problem when investors have literally no recourse.

[4matic]

Binance, the world’s largest crypto exchange by trading volume, said Monday morning that it was freezing bitcoin withdrawals due to “due to a stuck transaction causing a backlog.”

Changpeng Zhao, the firm’s CEO, tweeted that the fix would only take 30 minutes but later said that the problem was “going to take a bit longer to fix” than his initial estimate.

[4matic]

Gotta like how zhao tried to buy some time.

[stalefish3169]

Binance, the world’s largest crypto exchange by trading volume, said Monday morning that it was freezing bitcoin withdrawals due to “due to a stuck transaction causing a backlog.”

Changpeng Zhao, the firm’s CEO, tweeted that the fix would only take 30 minutes but later said that the problem was “going to take a bit longer to fix” than his initial estimate.

CZ sucks at messaging. Binance's internal algos set the wrong fees (too low) so transactions didn't go through immediately due to a backup in the BTC mempool.

In other news, I just bought more BTC.

[skaredshtles]

[stalefish3169]

Don't worry. If It goes lower, I'll buy more!

BTC weekly RSI lower than December 2018 low. Opportunities for life changing money like this are rare. It's best to buy when everyone is laughing at you and saying BTC is dead forever. It's best to sell when jackasses like Elon go on SNL to make skits about shitcoins.

[Timberridge]

That's the spirit.