Hi friends,
Bitcoin is right back where it was two years ago, making it a lost two years for those of us who have been in the whole time:
The FTX disaster is a big black eye for crypto and mainstream adoption. Sure, it is safer to hold your coins in cold storage instead of holding it on an exchange wallet, but it also is a much bigger pain and gives you less flexibility to sell whenever you want. Custody is a big issue, so if exchanges are doing nefarious things with your coins, you could be out of luck. This is certainly going to be used as a means to heighten crypto regulation.
I lost some coins on the Cryptopia exchange bankruptcy a few years back. I also tend to like speculative investments and, therefore, have been rug pulled a few times. Not fun to get burned. Best to spread things around and try to mitigate risk when you can, but there are no guarantees!
Thanks for coming by,
Brian
Posted Using LeoFinance Beta
hehe it was a bad year 4 me i lost $80k USD
Need to take it in context right - if you are up $250k but then lose $80k, it doesn’t feel so bad…
No I bought at the peak and lost $80k cuz I had to sell it all off to pay my bills cuz I got hit by a car and got brain damage
Thinking is becoming useless. I don't think there will be a chance to grow this time. It is going down at the rate of every hour. I've lost half of what I invested. Thanks for sharing.
I think all we can do best is that forgetting your cryptods in wallet for somr years as long as a worse crypto exchange bankruptcy happens.