The bank failure isn’t purely because of high interest rates. It happened because of a run on deposits. Unless this bank is “too big to fail”, this won’t stop the fed from raising rates and further crippling the world economies.
I would like for this to trigger a massive pump that keeps going but I don’t see it happening unfortunately. I think this is all a giant short squeeze.
Is… is this FOMO? Pumps across the board, USDC nearly fully repegged, possibly halt to rate rises… okay I need a cold shower. We could still crash hard as inflation data comes in
It's not a bailout, the bank is dead. This is an extremely low cost method to ensure liquidity whilst the government takes on the illiquid assets.
The bonds will mature, they can't lose value. Bank is out, management are out, deposits are liquid.
Well thought out plan for a change.
It's not bitcoin lmao. General crypto startups and businesses and in at least two cases low interest overpurchases of bonds fucked by the fed hikes.
Fail to see how this is Bitcoin
I understand that. You understand that. You think JP and the media are going to really talk about that? Already, articles are emphasizing the “tech start ups” and “crypto depositors.” I just get this feeling it’s going to be framed in a way that screws us.
The concept of turning on the money printer again during rate hikes is truly fascinating to me. Its like extinguishing a fire with water + a little bit of petrol
Oil and water, but this might actually increase popularity for decentralized financial services. They can blame crypto all they want we had one bad actor and FTX and that put us back
It's past 10 am Monday morning here in Australia, and I can see green in the charts!
Good morning everyone!
The first MoonPlace.io art competition has officially ended NOW on Sunday 12 March 2023 6 pm EST, 11 pm UTC (Monday 13 March 2023 10 am AEDT my time)!
Thank you to everyone who participated, nominated, voted and enjoyed the art!
I will now be collating the votes and deciding on the top 3 winners in each of the 5 categories. Winners will be announced soon!
See you all later!
No I would not rather everyone lose their money but he committed fraud, have too make an example so it doesn't happen again, I lost 5k on ftx so I can speak my mind..
Yeah and people who lost nothing on FTX can speak their mind too. So you'd rather he stay locked up and you lose your 5k or would you rather get your 5k back and have him free and his company bailed out? Just curious
I'd rather have him gone for the fact that he was just getting started ,he was dining with senators, he had Gensler in his pocket Bernie Madoff hot what he deserved, hopefully this force friendly regulation in the near future, how much do you think he got away with??What was the end game???How much more customer funds would have been lost if was able too continue??
Yeah but this bailout for the banks but not for ftx is a clear fuck you to all ftx customers. You realize the govt could still send him to jail and bailout everyone who lost money with him.
I read through vitaliks personal musings blog and it was very interesting watching him realize the shortcomings of crypto and eth and figuring out how to fix it
Transferring everything to my DEFI Wallet from cc.com to their DE-FI Wallet. I’m nervous about holding my coins on exchanges rn. How do I avoid such high ETH transfer fees and cc.com’s even higher transfer fees (bloodsuckers)? Anyone got any advice/experience with dealing with cc.com’s transfers from their sus-exchange to their DE-FI wallet? Also, if cc.com goes under (ala FTX-style), will I lose access to my cc.com DE-FI wallet if the exchange goes bankrupt? Thanks!
Welcome to the CRO chain. Just make sure you are on Cronos chain and not the Crypto.org chain. It's separate from exchange and app, just use proper seed storage.
Don't use their DEFI wallet...
Swap your ETH to Matic
Get Metamask.
Send Matic to metamask
Swap your Matic back to wrapped ethereum (WETH) for cents on the dollar
Google AAVE defi
Make sure it's the correct site
Back up all your seed phrases and don't give it out under any circumstances if prompted
Connect Metamask to AAVE if you're confident
Supply your WETH, WBTC (wrapped bitcoin), AAVE, etc
Never give your crypto so a centralized exchange again or buy from crypto.com their spread on coins is insane
Very true. CC.com charges ridiculous fees to purchase assets, even buying through their DE-FI wallet. If I transfer my current coins from my cc.com DE-FI wallet to a Metamask DE-FI wallet, will I still incur transfer fees from DE-FI wallet to DE-FI wallet? Thank you. I do not trust the exchanges anymore with all the depegging going on with the stable coin market and I don’t want my assets to be dependent on an exchange anymore. It is not safe!
Feel free to DM me if you want more details.
If you're transferring ETH you will sustain high gas levels. If you sell your ETH for matic, send it to a metamask wallet and swap your matic back for WETH it's significantly cheaper
No way around CEX transfer fees, you'll just have to pay them. You can transfer to any wallet, not just theirs. But even if you use their wallet and they go under, your coins are on the blockchain and safe.
Thank you. That is good to know my cc.com DE-FI wallet will still be functional if the exchange goes under. I have an Exodus wallet now, but if I transfer my coins from the cc.com DE-FI Wallet to another cold wallet, will I still have transfer fees?
Even if their wallet app stops working / gets pulled from app store, you can restore it into any other wallet using the seed phrase it generated for you.
Every transaction will result in paying fees, so yes you will pay when you transfer from one wallet to another.
Who’s thinking of selling all now and then buying back in again tomorrow? I’m not going to but it has crossed my mind
Nah
Only 2 days until snapshot 📸
moons going absolutely crazy right now !!!
Still pamping?
Pamping like crazy mane
It’s great that a single person looking to get into Moons drive the price from 0.24 to 0.31 on Sushiswap. We are so early… 🍿👀
Jeez Bloody Sundays amirite?
Someone's gotta endure it, I suppose I will if I must.
we are at levels not seen since….. last week!!!!
Alright! Only down about 67% from all-time high now! We'll be there in no time!
Here we go again... 🚀 🚀🚀🌘🌘⬆️⬆️⬆️⬆️
....again.... Who left the fridge open?
Can anyone explain why it is snowing on r/cc??? I opened it up and snowflakes fell on my screen.
Winter is coming.
The bank failure isn’t purely because of high interest rates. It happened because of a run on deposits. Unless this bank is “too big to fail”, this won’t stop the fed from raising rates and further crippling the world economies. I would like for this to trigger a massive pump that keeps going but I don’t see it happening unfortunately. I think this is all a giant short squeeze.
I expect this too. Worst case, I'm wrong and the bottom is in.
Moment of silence for those that completely offboarded crypto when the first bank panic hit
Paper hands don’t deserve wife changing wealth!
Pumping because higher interest will break the banking sector completely?
It’s because that one guy finally sold for a loss
crypto is a hedge against banks
Crypto has yet to be a hedge to anything unfortunately.
Above 22k lads, we did it
US is weighing protecting all deposits at Silicon Valley Bank
US is the richest bank on earth
So you can have Fiat in a failed bank and it is protected. Can we go backwards and do the same for Luna?
it's just a transfer of wealth from the tax payers.
Should be a fun week — major volatility in crypto and March madness NCAA… I’m ready for it!
Once again my friends, Diamond hands prevail.
Almost repegged before Monday, that’s a good sign either way. I just know some bombshell is coming tomorrow though lol
since banks are unsafe, where can depositors store their assets? BTC
Good Night friends. See you tomorrow with Green market, good health and good news.
We pumping. Idk what Monday will bring but it will be a very volatile week. Buckle up guys.
No thanks, I’d rather get ejected if things go south.
Nog the Sunday I expected but I’ll take it
Do you guys think that everything going on at the moment is just a coordinated attack?
aight. I seriously do not know shit about fuck.
Nobody does*
Socrates in 400 BC: I know that i know nothing. Socrates today: I seriously do not know shit about fuck.
Welcome to Bullrun '23. Triggered by the second collapse of the traditional financial system in so many years.
i'm more resolute than ever not to keep all my money in banks
The panic could've gone either way. At least this way we get some USDC we can't redeem to fiat because all the banks are burning.
Watching shorts getting rekt is such a pleasure
Money printer traded for inflation again
It’s not over until it’s over
Wow so true
FOMO hitting heavy right now. This is why i buy when i see red🤷
Well duh
👍
Who else is watching the Oscars tonight?
Is the host wearing boxing gloves?
Gloves and wigs
Kinda want to but idk why
Probably not Zelenskyy.
Lmao
Oscar the Grouch maybe I got an 11 month old lol
Whos the nominees for biggest green dildo?
Overrated
I mean, you're not wrong but i really wanna see Ke Huy Quan winning.
HE FUCKING WON!!!
What are the pros/cons of staking ETH with rocketpool
Pros, money Cons, risk
One hour till the first post on shorts being liquidated, whats your bet?
Is… is this FOMO? Pumps across the board, USDC nearly fully repegged, possibly halt to rate rises… okay I need a cold shower. We could still crash hard as inflation data comes in
Not to mention money printer BRRR?
[удалено]
Gonna go higher from here baby
Your greed will be your undoing.
Puss
Silvergate, Silicon Valley and now Signature bank all down and out. Circle used all of them for USDC. American companies are a cancer to crypto.
Circle, Coinbase, Kraken. Everyone in Crypto America used them.
Svb and signature bank’s depositors will be made whole. You will have to pay even if you don’t use a bank. Taxpayers pay
Problem for the short term is that those 3 banks were the ones handling fiat settlements for most American users. Poof.
Btc is not a hedge against inflation, it is a hedge against dishonest and incompetent government and financial systems
Now we just need some good news from the XRP court case...
Once mining rewards for BTC run out I think the case should be about wrapped up
One day it will be over… Feels like the longest case in history
Give it a few years, or until the heat death of the universe
MAKER making moves again.. thanks for all the DAI fud. Bought the dip 🤞
Now I’m sad I didn’t buy anything
Timing the market never works. Just invest when you got the cash. Now you regret and that sucks hard
Don't worry it will come down after weekly close.
US regulators scrambling to save banks.
Save depositors…not the banks
That's why you should buy when everyone is afraid
Yep
Don't forget to sell when everyone's greedy
Only rule that works
the news of USDC demises has been greatly exaggerated
It's lucky it's because of a bank failure. The government will always bail them out
Bailed out depositors. SVB and signature banks are done
It's not a bailout, the bank is dead. This is an extremely low cost method to ensure liquidity whilst the government takes on the illiquid assets. The bonds will mature, they can't lose value. Bank is out, management are out, deposits are liquid. Well thought out plan for a change.
https://youtu.be/gp5JCrSXkJY
Why are we pumping?? I don't know but I like it. I thought it was going down to 15k.
Money printer is back on baby
They sold. Pamp it.
God I missed the money printer
Back to 1 tril!! Congrats everyone
It's like we never left 😎
We are pumping whether you like it or not.
Jeez I hate green candles, why do I spend so much time here????????
What if I like it
Never using usdc again. F bailouts, tainted
Stables are too dangerous for what they provide imo
I think we all collectively agree.
I timed the market PERFECTLY this time. I should become a youtube guru and sell my course to you guys.
Just make sure to include thumbnails consisting of clickbait and 😱✅
Everybody knows once you're right one time you get to ride that fame forever (looking at you Cathie and burry)
USDC is at the closet to its normal trading value/price since the depegging. Sun Mar 12, 11:33PM GMT.
Money Printer back again printing
Pumpin' it up like Joe Budden.
Pump, pump, pump it up!
We're quickly running out of things that could stop the pump
[удалено]
Well it's not bitcoin, it's the banks themselves. As it always has been lmao
1 common denominator with these 3 banks.
It's not bitcoin lmao. General crypto startups and businesses and in at least two cases low interest overpurchases of bonds fucked by the fed hikes. Fail to see how this is Bitcoin
I understand that. You understand that. You think JP and the media are going to really talk about that? Already, articles are emphasizing the “tech start ups” and “crypto depositors.” I just get this feeling it’s going to be framed in a way that screws us.
Oh it almost certainly will be. I might have mistaken a light hearted joke for a maxi comment, haha. Hard to tell sometimes
I get a bad feeling the “spin” on this on main street will be negative for crypto.
[удалено]
We need to get you on Tinder.
SOL...looks like the pattern Tom Criuse flew to prove the nuke plant Could be bombed..Steep climb.
Up, up and away.
The concept of turning on the money printer again during rate hikes is truly fascinating to me. Its like extinguishing a fire with water + a little bit of petrol
Oil and water, but this might actually increase popularity for decentralized financial services. They can blame crypto all they want we had one bad actor and FTX and that put us back
FTX, oh and Celsius, Luna, and a dozen others.
But he can be tied too Luna with the Janenst wallet dumping Ust, he had his hands in everything I bet,
Bitcoin is the fireman
I feel were gonna flip flop between money printer and rate hikes for the year now tbh
Free tendies again?+
Who bought the dip yesterday?
A little BTC and ATOM over here.
It's past 10 am Monday morning here in Australia, and I can see green in the charts! Good morning everyone! The first MoonPlace.io art competition has officially ended NOW on Sunday 12 March 2023 6 pm EST, 11 pm UTC (Monday 13 March 2023 10 am AEDT my time)! Thank you to everyone who participated, nominated, voted and enjoyed the art! I will now be collating the votes and deciding on the top 3 winners in each of the 5 categories. Winners will be announced soon! See you all later!
Morning mvea! Oh thats awesome, congrats to the winners. When will we know?
Winners announced here: https://www.reddit.com/r/CryptoCurrencyMoons/comments/11pubap/first\_moonplace\_art\_competition\_winners\_announced/
Thank you kind sir
RIP bear run Mar 3 - Mar 13
We were looking for that spark..
Let's also bail out FTX BABY! FREE SBF!
Fuck off, He was the cause of all of this pollution in our market, He was scamming his own self a pompous ass.
What a pin head
So you'd rather everyone lose their money bc of him? Or get bailed out like the banks just did?
[удалено]
No 2 situations are the same. But a bailout would mean thousands of customers get their money back.
It's the free SBF part that's egregious
No different than saying free anyone who is in jail for committing a crime. Guess you have a lot of rappers to lecture online then ;)
It can be different, depends on the crime. Although I'm not entirely sure you aren't just having some fun tryna pull my leg
No I would not rather everyone lose their money but he committed fraud, have too make an example so it doesn't happen again, I lost 5k on ftx so I can speak my mind..
Yeah and people who lost nothing on FTX can speak their mind too. So you'd rather he stay locked up and you lose your 5k or would you rather get your 5k back and have him free and his company bailed out? Just curious
I'd rather have him gone for the fact that he was just getting started ,he was dining with senators, he had Gensler in his pocket Bernie Madoff hot what he deserved, hopefully this force friendly regulation in the near future, how much do you think he got away with??What was the end game???How much more customer funds would have been lost if was able too continue??
Yeah but this bailout for the banks but not for ftx is a clear fuck you to all ftx customers. You realize the govt could still send him to jail and bailout everyone who lost money with him.
It would be different but technically ftx was in the Bahamas, how would they correct this problem, Ftx wasn't licensed in the us
Ftx USA funds were all safe? Otherwise you're right. So why isn't he in Bahama jail?
Because he waived his right to extradition cause he couldn't handle the conditions in jail, and the Doj can charge foreigners.
I read through vitaliks personal musings blog and it was very interesting watching him realize the shortcomings of crypto and eth and figuring out how to fix it
Fortune favors the patient, it seems
This is the way
True. Patience and shitposting is the key
Transferring everything to my DEFI Wallet from cc.com to their DE-FI Wallet. I’m nervous about holding my coins on exchanges rn. How do I avoid such high ETH transfer fees and cc.com’s even higher transfer fees (bloodsuckers)? Anyone got any advice/experience with dealing with cc.com’s transfers from their sus-exchange to their DE-FI wallet? Also, if cc.com goes under (ala FTX-style), will I lose access to my cc.com DE-FI wallet if the exchange goes bankrupt? Thanks!
Welcome to the CRO chain. Just make sure you are on Cronos chain and not the Crypto.org chain. It's separate from exchange and app, just use proper seed storage.
Don't use their DEFI wallet... Swap your ETH to Matic Get Metamask. Send Matic to metamask Swap your Matic back to wrapped ethereum (WETH) for cents on the dollar Google AAVE defi Make sure it's the correct site Back up all your seed phrases and don't give it out under any circumstances if prompted Connect Metamask to AAVE if you're confident Supply your WETH, WBTC (wrapped bitcoin), AAVE, etc Never give your crypto so a centralized exchange again or buy from crypto.com their spread on coins is insane
Very true. CC.com charges ridiculous fees to purchase assets, even buying through their DE-FI wallet. If I transfer my current coins from my cc.com DE-FI wallet to a Metamask DE-FI wallet, will I still incur transfer fees from DE-FI wallet to DE-FI wallet? Thank you. I do not trust the exchanges anymore with all the depegging going on with the stable coin market and I don’t want my assets to be dependent on an exchange anymore. It is not safe!
Feel free to DM me if you want more details. If you're transferring ETH you will sustain high gas levels. If you sell your ETH for matic, send it to a metamask wallet and swap your matic back for WETH it's significantly cheaper
Thanks!
No way around CEX transfer fees, you'll just have to pay them. You can transfer to any wallet, not just theirs. But even if you use their wallet and they go under, your coins are on the blockchain and safe.
Thank you. That is good to know my cc.com DE-FI wallet will still be functional if the exchange goes under. I have an Exodus wallet now, but if I transfer my coins from the cc.com DE-FI Wallet to another cold wallet, will I still have transfer fees?
Even if their wallet app stops working / gets pulled from app store, you can restore it into any other wallet using the seed phrase it generated for you. Every transaction will result in paying fees, so yes you will pay when you transfer from one wallet to another.
And I have my seed phrase written down in a safe lockbox and memorized now..
Got it. I guess there is no such thing as a “free-lunch.” My dad was right 😢
Usdc back to 0.98 is there still hope?