Quote from: STT on January 22, 2023, 07:20:03 PM

FTX is not important enough, Im sure I was supposed to be knowledgable about all their stuff but to me they were just another player. Now they are gone I see no reason why it must alter everything for the rest of us, BTC isnt propped up like that reliant on a website or person for their personal integrity. Predictably, the security of both was lacking and failed those who trusted in it. When people point at FTX and say BTC must be blamed its nonsense, I'd say thats a reason to buy when labels are entirely incorrectly placed like that.
Way back Mt.Gox did have an alarming dominance in BTC, very different and long beforehand people pointed out this towering wobbly leaning empire was about to fall and the negative it would be. We also did have a number of incorrect factors at that time, I think one BTC mining pool was nearing 50% or maybe it was a bit lower but either way it was far too dominant to be called a safe scenario. Hopefully BTC has progressed in good times and bad to be more distributed with many legs not just one to stand on for any number of vital trading flows every day.

Musk is a large buyer but also seller, maybe some trade that in order books but Musk isnt really important for change in this space that I ever heard. Strong genuine buying across millions of people is what alters the price long term hopefully forever in a bullish way because people use that purchase where as Musk did little that I ever heard.

Everything effects the markets, so yes FTX has a huge MEASURABLE impact as you can clearly see on the charts.

If you aren't in the US you might not realize how big FTX influence on crypto right now is. As soon as over 5 billion in assets were found, markets reacted and thats what caused the boom. You can directly see that from the first mention of the find and check the charts.

Thats A LOT of happy people with hopes of getting funds back, which may end up just like Mt Gox.

Mt Gox people are very happy to be in the process finally to get funds back.

EVERYTHING effects the markets. It only becomes obvious once you look back, but not during.