GM Bitcoiners,
Working in a Bitcoin-only company, this has been part of my ongoing daily interactions with people regarding the latest crypto controversy…
Who could have seen this coming?
Certainly not many of the biggest financial gurus on YouTube…
And certainly not the many other ‘influencers’ that were pushing users to crypto trading and interest platforms with their affiliate links.
Remember, if you don’t know where the ‘yield’ is coming from, you are the yield.
The good…
Other than another chance for hodlers to accumulate Bitcoin at low prices, a lot of people just got their hands burnt at the stove (granted, not good), but hopefully this pushes them to understand the importance of self-custody and why it might be time to take a closer look at the differences between Bitcoin and crypto…
gm, the best time to self-custody your bitcoin was as soon as you bought it, the second best time is now…https://t.co/Vb4CI3os55
— FastBitcoins.com (@fastbitcoins) November 14, 2022
Bitcoin was created to fix the money
Crypto was created to take your money
— FastBitcoins.com (@fastbitcoins) November 14, 2022
The bad…
The dip is hard to stomach, even if you have a long-term view. Sadly, many people will fall away and those ‘bigger’ voices that are affected will be calling for extreme regulation…
Kevin O'Leary and his disaster situation with FTX 😂
Predicts that institutional investors are going to avoid crypto until there is regulation. Govt will bring on CBDC with this process.
🔊sound …🧐 pic.twitter.com/TG505yKJfb
— Wall Street Silver (@WallStreetSilv) November 13, 2022
Of course, these figures won’t talk about the need for education around Bitcoin, storage, security and due diligence ¯\_(ツ)_/¯
There has already been a reaction from my own bank…
Don’t forget that the point of Bitcoin is to NOT trust.
The point is to VERIFY.
…
And the point of crypto is to RUG PULL.
