Not sure how many of you this would help, but figured I’d post it just in case. Silvergate, the payment processor FTX used, would pay for the refund. They took the risk, so it’s on them to refund. This will help keep those deposits out of the bankruptcy fiasco. I didn’t know this until I…
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Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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KPMG, one of the “big four” companies in the consulting and auditing business, is appointing a new head of metaverse futures. The new position, to be occupied by Alyse Sue, will be dedicated to the implementation of technologies such as metaverse and crypto to find fresh business models for the company, as other big four […]
Screenshot of the contagion flow chart (click on the post if you can't see it in the preview): FTX Contagion Flow Chart by Molly White I stumbled upon it when I searched for a list of all the exchanges / platforms / companies impacted by FTX's bankrupcy. Original source: This chart was made by Molly…
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Who remembers the old days when try tried to get Doge going as a tipping coin on Reddit? I can’t remember which sub but a crypto one. It was my first introduction to crypto. I remember looking at Bitcoin and thinking it was too amateurish so thought I may as well play with Doge. The…
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Venture capitalist Tim Draper continues to show staunch support for bitcoin even during this time. Draper who has been an evangelist for bitcoin has said multiple times that he expects the digital asset to hit six figures, and once again, he has taken an opportunity to double down on his predictions. Bitcoin To Reach $250,000 In an interview with Bloomberg, Tim Draper said that he expects the price of bitcoin to actually reach $250,000. His reasoning behind this was that bitcoin has not really trickled down into retail shopping just yet. According to Draper, he believes that when this happens, bitcoin will see the $250,000 price mark, and possibly even higher. Warning a tie sporting the bitcoin symbol, Draper points to the fact that women control 80% of all retail spending, and that it will be this demographic that drives this adoption. He explains that the participation of women in the space was already on the rise with 1 in 6 BTC wallets being owned by women. Then when women start using BTC payments for their retail spendings such as food, shelter, and clothing, and retailers start moving towards bitcoin to capture more profit, Draper expects the price of bitcoin to move quickly to $250,000. This is not the first time that Draper would be giving a $250,000 BTC prediction. Although he did not give a timeline this time around, he had previously said that he expects the digital asset to hit this price in mid-2023. In the same interview, Draper also said that he holds most of his wealth in crypto. BTC Still Holds Promise A good argument for the future of bitcoin and the possibility of seeing six-figure prices is the fact that the cryptocurrency is still relatively young. It only took 12 years for the price to reach $69,000 and has roughly tripled in price every few years. If BTC maintains its historical trend, then the next bull market, a $200,000 price mark would not be out of the question. A tripling of the previous all-time high for the next one would actually put the digital asset just above $200,000 in the next bull market. For now, bitcoin is struggling to mark a bottom through the present bear market. Until a bottom is established, there is no runway for the market to start another bull rally. The bankruptcies of multiple large players have also not helped the digital asset in this regard either. Featured image from Crypto Syringe, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
Let’s ensure that the companies replacing FTX in the public eye understand what cryptocurrency is about and want to get back to its core values.
Ok, with all the doom and gloom in the space, let's see how bad did crypto investments do vs traditional high performance stocks over the last 6 years. Let's say you invested $100 on July 1st 2016 in top performing traditional stocks + Bitcoin and Ethereum(when it was first available on Coinbase).How much would you…
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Think how much buying pressure was lost because of FTX. I think you will see crypto projects run up as long as they were not connected to FTX. I'm sad for retail who trusted this company with their keys but this is healthy for crypto as a whole IMO. someone tell me why this is…
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The crypto community watched in dismay last week as we learned that FTX was insolvent after misappropriating user funds After the stunning fall of one of the most influential organizations in our industry, the importance of DeFi has never been more clear Index Coop would like to share some things that give us confidence in…
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