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THIS is a bear market

January 8, 2023 January 8, 2023 / By

If you made it this far. Welcome, we have arrived to a bear market. Volume is really low across all pairs for days, weeks, even a couple of months now. Even Binance had to add zero fees trading on BTC pairs so that volume could spike a little. Take away the FTX fiasco everything has been really quiet & stable. Everyone who had to flush, sell & did not believe in what they bought already sold. Everyone who holds X or Y project believe in it and will not sell. I will not reveal my holdings but even after being at a significant % loss on some altcoins I will still buy them because I believe they will succeed. So now we are all either screwed and left holding the bags of something good will come. Also, if you have a large % of the supply of tokens it’s hard because you have no exit liquidity for selling them. Do you think we can keep dumping much more? Or do you believe we will crab our way into 2023 just like we did in 2019? EDIT: for many critics, I’m saying the real bear market has low volatility and low volume, and we have been having that for a whole now submitted by /u/OddAd283 [link] [comments]

FTX and SBF: how deep does corruption run in America?

January 8, 2023 January 8, 2023 / By

Mr Ellison, father of Caroline Ellison (co-CEO of Alameda along with Sam Bankman-Fried), was the boss of Gary Gensler (former investment banker and now Chair of the U.S. SEC/Securities and Exchange Commission). Both Mr Ellison and his wife are economists at MIT. Sam-Bankman Fried’s (founder and co-CEO of FTX and Alameda) parents are both law professors at Stanford. They own a 16.5m beachfront Bahamas house in a gated community bought through FTX funds. Sam Bankman-Fried called ethics a “dumb game we woke westerns play where we say all the right shibboleths so people will like us.” Judge Abrams, whose husband’s law firm was contracted to work for FTX in 2021, allowed Sam Bankman-Fried to be released home on 250 million bail – paid for with the help of his parents and two undisclosed bail guarantors. Once the bail decision had been made, judge Abrams stepped down from the case citing possible conflict of interest. Sam Bankman-Fried has asked his new judge, Kaplan, to keep the names of his two bail guarantors secret. Judge Kaplan’s past rulings include ruling in favor of oil giant Chevron in their 2014 environmental case. While out on bail, Sam Bankman-Fried has allegedly been busy moving 1.5m in crypto funds out of Alameda as well as opposing the seizing of his 450m worth of Robinhood shares so he can pay his legal defense. The justification for this objection, and this is not a joke, is that he needs the money more than anyone who invested their money in FTX. I guess the last and final court ruling of this case will show how deep corruption runs in America. (Or not.) submitted by /u/allspoetry [link] [comments]

UPDATE – I didn’t got any malware, I got Address Poisoning Attacked

January 8, 2023 January 8, 2023 / By

Hi, I recently made a post (https://www.reddit.com/r/CryptoCurrency/comments/105kx22/i_just_got_phished_for_5k_in_the_worst_possible/) in which I initially thought I got a malware or virus which changed my wallet address while pasting however after reading many articles and recalling what happened, I can assure that it was Address Poisoning Attack. What it Address Poisoning Attack: It is an attack in which attacker send a spoof transaction from my own wallet address to my previously used address where I sent USDT/USDC/ETH etc. In my case, they sent transactions from my own address (using smart contract) to their fake addresses which looks exactly similar to mine on the first look. This is what I saw in my ledger: https://i.imgur.com/DRQEyUr.png On 1st Jan, 2023 at 1:33 PM, I sent 5000 USDT to Binance. After that, I got 7 spoof transactions in which all were sent to similar address as of the real binance address. This is how a transaction looks like when clicked: https://i.imgur.com/xAQAs45.png So, I clicked this transaction and copied the To account and pasted it in my ledger. Today at 2:25 PM, I sent 5000 USDT to Binance, little did I know that it wasn’t real one. Now, this is my own fault. In my defense, I will say that I always sent any amount by checking first 4 digits and last 4 digits of my wallet address. I have been using this Binance Address since 2021 and I remember the last 4 digits orally. Until today, I never knew Vanity Address Generation is possible in Ethereum. It was a very smart attack by the attackers and now I am feeling a fool. I am just posting it here so that all of you can learn from my $5000 mistake. I am not going to get it back as the hacker used Tornado.cash to add MATIC balance to their addresses. If anyone want to help me a little bit, you know my wallet. I would appreciate it. submitted by /u/ImThour [link] [comments]

Why aren’t shitcoins dying?

January 8, 2023 January 8, 2023 / By

We are in a nice, old, cold bear market with many altcoins losing 95-99% or even more. What puzzles and kind of worries me is that many of the coins I would have thought would do terribly on the bear market (DOGE & SHIB for instance) are actually not doing so bad. Like I know they lost 90% since ATH, but right BTC also fell 75%+ so I mean will they stay on the Top10/20 in market cap and still be significant coins for the next bull run? Will we actually take them as serious projects or what? I could never see them as the top crypto projects once the hype died but there they are, hanging tight. What do you guys think will happen? What are other projects you believe should have died but did not? submitted by /u/TeoGuionBajo13 [link] [comments]

Today I [SERIOUS]ly read the Terms and Conditions of Binance, Kraken and Coinbase

January 7, 2023 January 7, 2023 / By

After a judge has ruled that customer’s assets do not belong to them based on the bankrupt-firm’s Terms of Service (ToS), I decided to check how deep we could go were one of the exchanges in the title to fail. I was looking specifically for insurance and/or ownership of the assets. See the TL;DR at the end. Binance Binance’s ToS have no mention of “ownership” or “insurance”. When trying to search the page for these, nothing relevant comes out. Some things, though, got my attention: https://preview.redd.it/ss7asen0ugaa1.png?width=1232&format=png&auto=webp&s=ad7362dac89410f81d9a100604117d9913a1c94e They claim not to have any obligation towards us when we’re using their services. In addition, no communication shall be implied as Financial Advice, not even the spam emails they send you encouraging you to use leverage [sic] because you could “gain 10x your investment”. Other point that caught my eyes was: https://preview.redd.it/ig0876qltgaa1.png?width=1253&format=png&auto=webp&s=e8738c3c5df67ac4c528f4293af9505040ce3bf0 I mean, why would they not warrant that their services are accurate and reliable? Kraken When it comes to ownership, they’re very clear: the assets are yours! The word Payward refers to Kraken themselves: https://preview.redd.it/mnlu6yxjugaa1.png?width=666&format=png&auto=webp&s=fd51bab7596cab70a15c76ff923ac22eb0e90949 However, the assets are not insured or covered for losses: https://preview.redd.it/jtddss8vugaa1.png?width=690&format=png&auto=webp&s=5c15f0d3df3e336a421d7053043b8172aef4352b A question I have here: does this mean that if the exchange goes bankrupt by e.g. a hack, a judge and/or lawyers could claim that the losses are not Kraken’s fault, and therefore you’d be left without your assets? Kraken also takes no responsibility for losses in the following cases: https://preview.redd.it/n4l0g4xcvgaa1.png?width=704&format=png&auto=webp&s=5cdf5637f0bc56b94a20aab9e594da524e2af2b0 Coinbase Ownership belongs to the users: https://preview.redd.it/rgqtv2qawgaa1.png?width=927&format=png&auto=webp&s=35e0ba51675f5bbf806695c73633c2a95831de05 Contrary to Binance and Kraken, user assets are insured by up to $250,000, as long as they’re in USD (cash) format within your wallet: https://preview.redd.it/n16qj73jvgaa1.png?width=935&format=png&auto=webp&s=f0fd5840e9a69070c53453ad0458d69dbbcfe397 Funnily enough, one of the insurers is no one else than JPMorgan Chase: https://preview.redd.it/vnu779nrvgaa1.png?width=1428&format=png&auto=webp&s=89097fd1c8d22ae3b0148ee2e156217b7c7eef86 A portion of your assets are insured against theft (at Coinbase’s end, not yours) and such: https://preview.redd.it/9i7ul4mxvgaa1.png?width=1422&format=png&auto=webp&s=8f680fa518be3b23c72418c21ecb78c68e81b5fb I could not find information on what’s the % of this portion. They’re launching Coinbase One, where you pay a subscription to a VIP-like access to benefits, which accounts for an insurance of up to $1M US dollars on the assets on your wallets: https://preview.redd.it/qp8vjtk8wgaa1.png?width=938&format=png&auto=webp&s=bea5709772a4743065f97408c22f8de8db141c92 TL;DR Kraken and Coinbase acknowledge that assets belong to users Binance does not say anything on ownership (at least not that I could find) I only found insurance information on Coinbase: all balance held in USD (fiat) is insured by default and up to $250,000, or up to $1M dollars for assets in fiat and crypto for Coinbase One users I was not expecting to see any kind of insurance at all, and am surprised with Coinbase’s take on that. Binance was the one with the less amount of information on these topics (at least per my research). I’m not sure to what extent the assets would still be considered users’ property in the case of a bankruptcy filing, though. Exchanges can change their ToS at anytime, so avoid leaving funds there for longer. submitted by /u/reddito321 [link] [comments]

[SERIOUS] Gate.io published independently audited Proof of Reserves With Liabilities but it only covers 30% of their total assets

January 7, 2023 January 7, 2023 / By

I think we all know the story behind PoR. We all accept that it’s mostly useless and even deceptive without liability data. Gate.io was one of the first exchanged to publish proof of reserves, one of the few independently audited proof of reserves and further one of the only that published PoR with liabilities. That list may only have four or so other exchanges. There is however a big problem. They published PoR with liabilities that were audited by Armanino that showed Gate.io were overcollateralized(fully backed user funds + extra) however, this only covers two assets, namely BTC and ETH, with collateral ratios of 107.79% and 104.45% respectively. On the surface some may seem satisfied by reserves report covering the “maincoins” but it is absolutely not. Gate.io have BTC and ETH only account for 30% of their total assets. (calculated from on-chain values of Gate.io address & Nansen tracker) This is yet another example of how layman misunderstanding is hugely dangerous. The community celebrated when Gate.io published it’s PoR with liabilities. But there is no world where proving you only have 30% of the funds you are supposed to have is remotely a positive thing, liabilities or not. submitted by /u/OneThatNoseOne [link] [comments]

Are we in the accumulation zone?

January 7, 2023 January 7, 2023 / By

The market keeps expecting the next big drop, and everyone is sitting with cash on the sidelines. Is it really that important to wait for a further decline and then buy on the way up? Your buys on the way up will be at the same price as they are on the way down. My fear is that I miss this opportunity and ultimately have less Bitcoin when we’re back to rising prices. If you’re buying and holding Bitcoin for the long term, I don’t see any reason not to treat this period as accumulation time. Bitcoin’s price hasn’t been this low for two years. This is a better price than any of the Bitcoin you bought in the last two years. I’m ready to accumulate more! submitted by /u/OpticallyMosache [link] [comments]

Twitter is full of false traders

January 6, 2023 January 6, 2023 / By threej

So lately I’ve come across loads of twitter accounts doing supposed 1k to 10k challenge or something similar. Some of these accounts have hundreds of thousands of followers. All would be fine if ANY of them provided any actual evidence of their trading skills. As a “proof” they post an excel screenshot…. Some provide some screenshots from their “account” where you can often see 80% win rate or more… the website is called tradetracker and it is just a fancy excel sheet where you manually enter your trades xD An example of “proof” Ultimately after they gather thousands of followers they start a paid service via discord/telegram or w/e which then provides them with real income. I DM’d a couple of these accounts and ask them to send me a screenshot of their overall PnL before I joined their discord… NONE of them answered. Whereas if you message them just for discord info they response within an hour or so xD. I still have no idea how people fall for this. submitted by /u/Chysce [link] [comments]

Do you believe that 99% of crypto will go to 0

January 1, 2023 January 1, 2023 / By threej

If not why? There are over 22, 000 projects If 1% survive that would be close to 200 projects – that doesn’t include new projects yet to come. It’s clear this space is growing but is there even a need for 200 projects? Many projects from prior bull markets are gone, never to come back. Many believe regulation is coming and most crypto projects are deemed securities by the SEC – with bitcoin being the only exception of course You often see many shills, pumps, rugs, fraud, bots that are rampant in bull markets. Even projects with promising developers. Unfortunately the bear markets of 2014, 2018, 2022 has been a humble reminder of the risk of crypto projects – especially with exchanges going under. Institutions are cautious and governments. Long term I’m in the camp bitcoin and certain alt coins will succeed and time is on our side. Which projects do you believe in? submitted by /u/SimplyShred [link] [comments]

Who remembers the wild stories of John McAfee?

January 1, 2023 January 1, 2023 / By threej

Share your favourite stories about your favourite shiller! Well, apart from the one with the hammock related ones, please. A few to make a start: In 2017, McAfee made waves when he tweeted that he would “eat his own d**k on national television” if Bitcoin did not reach $1 million in value by 2020. While Bitcoin did not reach that milestone, it’s worth noting that it did see a significant price increase during that time period, rising from around $1,000 in 2017 to nearly $20,000 at its peak in December of that year. In 2018, McAfee launched his own cryptocurrency, called McAfee Coin, which was designed to be used for secure and private transactions. The project was met with mixed reactions, with some praising McAfee’s efforts to create a more secure and private alternative to traditional cryptocurrencies, while others criticized the coin as a potential scam. In 2019, McAfee made headlines again when he announced that he was running for President of the United States as a Libertarian candidate. His platform included a number of cryptocurrency-related proposals, including the creation of a “Crypto Dollar” that would be backed by a basket of cryptocurrencies. More recently, McAfee has been involved in a number of other cryptocurrency projects, including the launch of a new privacy-focused coin called Ghost, and the development of a decentralized exchange called McAfee DEX. In August of 2021, John McAfee’s Twitter account tweeted out a message saying that he had was alive and well and if anything would happen to him, he would be “Epsteined”. This tweet was part of a series of other cryptic messages, leading some to believe that McAfee was in danger or had been kidnapped. Later that month, it was reported that John McAfee had died of a heart attack while in prison in Spain, where he was being held on tax evasion charges. This report was later disputed by McAfee’s wife, who claimed that he was still alive and that the reports of his death were false. There is a pledora of other stories, covered in several Youtube or Netflix documentaries (like his time in Belize). What are your favourite ones and what is your opinion on the late McAfee and his life? Was he crazy, a ridiculous troll, did he know more than us, did he just scam everyone? submitted by /u/Schwammosaurus_Rex [link] [comments]