In a groundbreaking development for the crypto community, users who held assets on the bankrupt FTX exchange and the beleaguered Celsius Network lender can now trade their claims on the Open Exchange (OPNX), marking a significant step towards resolving the long-standing issues surrounding these platforms. 

The collapse of FTX in November last year left customers grappling with up to $8 billion in losses, precipitating a widespread crypto market downturn, while Celsius Network's bankruptcy filing revealed its users were owed approximately $4.7 billion. 

The arduous process of resolving these bankruptcy claims is expected to take years, but OPNX is offering an alternative that provides immediate liquidity and a chance for affected users to regain control over their funds.

Resolving bankruptcy claims in the cryptocurrency space is a protracted and uncertain process. 

For instance, trading firm Folkvang, based in the Cayman Islands, revealed that it anticipates its FTX claim, which wiped out half of its trading equity, could take up to eight years to be fully resolved. 

This extended timeline underscores the need for innovative solutions to address the financial distress faced by affected users. 

Currently, claims from FTX and Celsius Network can be found trading on OPNX, with the prevailing rate standing at approximately $0.30 per dollar, which rivals that of the Claims Market, a competing platform.

Mark Lamb, the founder of OPNX, has embraced claim tokenization as a revolutionary means of offering customers immediate liquidity. 

Through the platform, users can seize the opportunity to regain control over their funds, and once again participate in the vast array of market opportunities available within the crypto space. 

OPNX's claim tokenization system allows users to convert their FTX or Celsius claims into the platform's native tokens, reborn OX (reOX), or oUSD, the platform's profit-and-loss currency. 

These tokens serve a dual purpose, acting as collateral for trading on OPNX, thereby facilitating a seamless transition from claims to assets.

The brainchild of OPNX is the brainchild of Mark and Leslie Lamb, who come from the prominent crypto exchange, CoinFlex. 

They were joined by the formidable duo of Kyle Davies and Su Zhu, who are the masterminds behind Three Arrows Capital. 

Notably, Three Arrows Capital faced a tumultuous journey in the cryptocurrency market in the previous year. 

A highly leveraged trading strategy took an unexpected turn, leading to a cascade of liquidations across the industry. 

Their involvement in OPNX indicates a commitment to revitalizing the crypto market and providing solutions for users facing challenges due to the collapse of platforms like FTX and Celsius Network.

The advent of OPNX brings a glimmer of hope to users who have been grappling with the repercussions of the FTX and Celsius Network collapses. 

These beleaguered users now have the opportunity to trade their claims for immediate liquidity and native tokens. 

While the traditional route of resolving bankruptcy claims can take years, OPNX offers a more expedited alternative that allows users to participate in the crypto market once again. 

With the backing of influential industry players like Mark and Leslie Lamb from CoinFlex and Kyle Davies and Su Zhu from Three Arrows Capital, OPNX represents a promising solution that could reshape the cryptocurrency landscape. 

As this platform continues to gain momentum, it demonstrates the adaptability and resilience of the crypto community in addressing challenges and providing innovative solutions.

OPNX Breathes Life into FTX and Celsius Bankruptcy Claims

In this thought piece, we will dive deep into the world of trading Bitcoin and explore the challenges it presents. Trading cryptocurrencies might seem like a shortcut to financial success, but the statistics and harsh realities suggest otherwise. From the dangers of following 'successful' traders on social media to the allure of leverage trading, we'll break down why trading is not as easy or profitable as it may appear.

To understand the difficulties of trading Bitcoin, it's essential to examine some key statistics that shed light on the harsh realities of the trading world. These statistics, though not specific to crypto trading, serve as a valuable reference point.

 Approximately 80% of all day traders quit within the first two years of trading.

 Among all day traders, nearly 40% engage in day trading for only one month. Within three years, only 13% continue, and after five years, only 7% remain.

 Traders tend to sell their winning trades at a 50% higher rate than losing ones, but still, the average individual investor underperforms a market index by 1.5% per year.

 Only about 1% of all day traders can consistently predictably profit net of fees, and profitable day traders account for just 1.6% of all trading activity.

These statistics highlight the immense challenges traders face, with a vast majority ultimately struggling to achieve profitability.

Many 'successful' traders on social media present an image of unwavering success, but the reality behind their trades often remains hidden. It's crucial to acknowledge that they may not be part of the elusive 1% of consistently profitable traders.

Furthermore, some traders provide seemingly sound advice like using proper risk management and setting stop losses. However, they often omit a critical truth – spending more time trading does not guarantee greater success. The statistics reveal that traders who continue trading for extended periods still face significant challenges.

Additionally, the recommendation to use only a small percentage of your portfolio (usually around 1-5%) might seem wise. But this approach may not align with the desire to turn a small sum into a substantial profit. In practice, it means risking a tiny portion of your capital and, even with a winning trade, making modest gains that could be quickly eroded by trading fees, taxes, and losses.

Trading goes against natural human psychology, making it difficult to adhere to a disciplined strategy despite losses. This challenge can lead to a spiral of impulsive decisions and ultimately resemble the mindset of a gambling addict.

Traders often continue trading even when they have a history of consistent losses, a behavior observed in some cases even after the introduction of lotteries. The thrill of leverage trading, promising higher returns, can be irresistible, but it also magnifies losses. Leverage trading introduces additional fees and the complexity of funding rates, potentially undermining the trader's account.

One of the most dangerous consequences is the cycle of revenge trading, where losses trigger impulsive, high-risk trades in an attempt to recoup losses. Unfortunately, this often results in the loss of the entire trading account.

It's essential to recognize that trading isn't a matter of intelligence or learning endlessly. Even with advanced strategies and technical indicators, trading isn't about avoiding losses completely. The data shows that only a minuscule fraction of traders is profitable, and these profits are often modest.

Profitable trading involves consistently following a proven strategy, managing losses effectively, and making sure that wins outweigh losses over time. Achieving this demands emotional discipline, which most traders find challenging to maintain.

If trading Bitcoin seems like a treacherous path, there is an alternative approach that offers a better chance at financial success without the stress and uncertainty of day trading.

Long-term investment in Bitcoin, rather than frequent trading, can provide a more stable and predictable path to profitability. The key difference is the mentality; it requires patience and a willingness to hold assets over extended periods. This approach allows you to take calculated risks and avoid the impulsive behavior associated with trading.

Investors who buy and hold on a long-term timeframe often outperform traders, as the potential for significant returns over time tends to outweigh the allure of quick profits. Moreover, long-term investment provides protection against diminishing returns, which is a natural consequence of Bitcoin's increasing popularity and adoption.

In conclusion, trading Bitcoin may be alluring, but it's essential to understand the pitfalls and challenges it entails. Long-term investment, coupled with patience and discipline, offers a more secure path to financial success and minimizes the destructive aspects of trading.

Thank you for reading this article, and remember, the best investment in cryptocurrency is often the one you hold onto for the long haul. If you want more insights and exclusive data on the crypto market, consider subscribing to our premium newsletter for expert guidance and in-depth analysis.

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Is Trading Bitcoin Hard? The Realities

In this article, we dive deep into the behind-the-scenes world of Bitcoin and explore why it's not comparable to the stock market. 

The unique cycles of Bitcoin have caught the attention of many investors, but time is running out to take advantage of them. 

We also discuss the 4-year cycle and how to rig the game in your favor. 

While the information presented may not always be pleasant, it's important to focus on the truth to make informed decisions and ultimately profit from this exponential asset.

The Unfair Advantage: Bitcoin is Stacked Against You

 has quickly become a popular choice for cryptocurrency traders looking for a fast and user-friendly trading platform.

With a no-KYC policy for daily trading volumes below 10 BTC, MEXC offers a level of privacy and anonymity that many traders value. 

But is the platform safe and secure? How does it compare to other popular exchanges like Binance? What fees and payment options does it offer? In this article, we'll take a closer look at MEXC Global Exchange and provide you with everything you need to know before trading on the platform.

MEXC Global Exchange Review: Fast, User-Friendly, and No KYC

Buying low and selling high may seem like a straightforward strategy, but it's not always that easy (hardly ever). 

In this article, I will discuss 5 ways to identify Bitcoin tops and bottoms, so you can make more informed decisions and increase your chances of success.

The first thing to consider when trying to identify Bitcoin tops and bottoms is the narrative. 

This refers to the general consensus and belief among investors about the current state of the market. 

It's important to remember that narratives can be wrong, and relying on them too heavily can lead to missed opportunities and losses. For example, during the 2020 cycle, many people hesitated to buy at $16.5k because they were waiting for a recession. 

Similarly, many investors held off on selling during the last tops of $64k and $69k because they were waiting for the $100k promised by the Stock-to-Flow model. 

These narratives ended up being incorrect, causing investors to miss out on potential profits.

To avoid falling victim to false narratives, it's essential to stay informed and make decisions based on data, rather than rumors or predictions. 

You will notice that I always refer to the data when making decisions that I inform you on via Twitter.

While Bitcoin cycles may not repeat exactly, they do tend to follow similar patterns. 

However, the market is extremely unpredictable, and it's important to expect the unexpected. It's crucial to have a plan in place, but it's equally important to be prepared for that plan to fail.

As an investor and trader, you should always be open to adjusting your strategy based on new information and market changes. 

This mindset will help you stay flexible and make informed decisions even in volatile market conditions.

If you are investing in Bitcoin, as an early stage technology, you need to expect a lot of price volatility. 

However, the good news is that the price volitility is where the big investing and trading opportunity is. 

It's what makes trading Bitcoin superior to trading the stock market, in my view.

One of the most effective ways to identify Bitcoin tops and bottoms is by analysing data. 

There are a number of free resources available to investors. I would encourage you to use these (and potentially others): 

By studying data such as price charts, transaction volume, and network activity, you can gain valuable insights into market trends and potential price movements. 

However, it's important to remember that data analysis is not foolproof and should be used in conjunction with other strategies. Data can sometimes be spoofed, or simply coincidental.

4. Wait for Guarantees, Then Expect Shortcomings

At tops and bottoms, many crypto analysts and influencers will start making guarantees about future prices. 

It's important to remember that nothing is ever guaranteed in the world of trading. 

Your favourite YouTuber is, unfortunately, not your friend, and he or she is not there to make you money. They are doing everything they can to maximise their own profit and yeild on their time. You would likely to do the same, in their shoes.

(1) they're not as smart as their previous luck or profits might make them appear, and actually have little idea about what they're doing (other than creating engaging content); or

(2) they're a scammer and using their subscribers to desperately try to pump the price for their benefit.

It's crucial to be cautious and avoid making decisions based solely on the promises, or signals, of others. This is particularly true where you do not have visibility of their trades.

Instead, rely on research and analysis to make informed decisions.

Finally, to successfully identify Bitcoin tops and bottoms, it's essential to stay ahead of the competition. 

Many people in the crypto space are focused solely on making a profit, at whatever social or moral cost. They are not above shilling scams or making unrealistic promises to entice their followers or subscribers.

To stay ahead, you need to start thinking for yourself and be proactive in your research and analysis. 

This means being open to new information and staying flexible in your trading strategy.

In conclusion, identifying Bitcoin tops and bottoms can be challenging, but it's not impossible.

By considering the narrative, expecting the unexpected, analyzing data, being cautious of guarantees, and staying ahead of the competition, you can increase your chances dramatically. 

5 Ways to Identify Bitcoin Tops and Bottoms

Reading this article will require a strong mind and should challenge your perspectives on Bitcoin and the crypto industry.

If you choose to read and carefully consider the information, you may become a successful investor.

However, if you prefer to maintain your current beliefs, this article may not be for you.

Initially, I had immense faith in Plan B’s stock-to-flow model and shared the widespread belief amongst many others in the crypto community that Bitcoin would surpass 100k in the last cycle.

However, despite my conviction, I also possessed the ability to think independently and recognise that Bitcoin had likely peaked in April 2021 at 64k. Consequently, I sold and stepped away.

I returned eighteen months later, shortly after the FTX crash - confident that it presented a fresh investment opportunity. I placed some buy orders at 16.5k. My confidence to do this against the sentiment was, quite frankly made easy due to the numerous indicators and TA data sets I’d been following.

Over time, my experience has led me to some eye-opening revelations regarding the crypto industry. It projects itself overall as a solution, a way to escape from the perils of fiat money and the central banks. However, the truth is far from it.

Chances are, you too view Bitcoin as a groundbreaking technology that will transform the world - a new-age store of value, or even internet gold. It is now imperative to broaden your horisons and look beyond the smokescreen.

Bitcoin is a fabrication and its narratives are fiction.

Since ancient times, humans have exhibited a tendency towards taking calculated risks, whether it pertained to survival in the past or financial risks in the present. Such risks bear the potential for significant rewards, and greater risks can translate to greater rewards.

The New York Stock Exchange dates back to May 17, 1792, when 24 stockbrokers signed the Buttonwood Agreement as a response to the nation's first financial panic, marking the inception of a new means of wealth creation through investing in specific companies. The better the companies perform, the better the investments do, thereby creating wealth through the risk of betting that a specific company will continue to perform well.

Bitcoin originated as a decentralised, peer-to-peer monetary system backed by a unique and novel Blockchain network. However, it quickly transformed into something entirely different. Despite its original purpose, Bitcoin has proven to be a poor medium of exchange given its continual volatility, which is detrimental to consistency in purchasing. Although I accept this might change in the future, there are zero guarantees.

But yet - there are two factors that make Bitcoin exceptionally appealing for me: the potential for unprecedented returns and its effective Ponzi-like design.

Let me be clear: the individuals who make significant profits in the world of Bitcoin and crypto do not subscribe to the frivolous narratives.

They are playing a game, and unfortunately, if you subscribe to the general narratives, you are the loser.

Bitcoin operates on sentiment cycles. The savvy players take advantage of these cycles, buying when others think it’s foolish to, and selling when everyone believes the price of X coin will go up forever.

In contrast to the stock market, you're not investing in a company that has inherent value since it creates things. Instead, you're betting that someone else will buy your coins at a higher price than what you paid for them.

It's fuelled by greed, not by the halving.

Greed cycles are now driving the Bitcoin price, and you can only profit if you take advantage of someone's ignorance - or gambling addiction - by selling it to them at the top. That individual will lose money, and you will benefit from it. That's how you, and I, win.

Over time, there have been ideologies created in the industry by scammers such as the concept of HODLing (hold-on-for-dear-life) and WAGMI (we're-all-gonna-make-it). These stories couldn't be further from the truth.

The truth is, you're in competition with people like me who study the data and wait for others to sell their coins to me at a loss, only to sell them to someone else at the top who will hold those coins at progressively deeper losses until they can no longer bear it.

They want you to believe that HODLing is an effective strategy, saying things like "Bitcoin has yet to see mass adoption, S-curve, super-cycle." You believe you're intelligent by HODLing, but you've fallen into their trap.

Consider this: you've been told that fiat money is a corrupt system that takes advantage of you. You should accumulate as much Bitcoin as possible, buy at any cost, and never sell.

It's highly effective. Those who do this increase the price indefinitely. And this allows the big players to sell to those who will purchase at any price and off-ramp into fiat to buy things that make their life better or easier.

However, the truth is that fiat is an essential part of daily life, whether or not you agree with the inflation system. It allows you to eat, drink, and have a roof over your head. Everything essential to life is dependent on it.

The crypto industry has captured significant attention which has driven an increasing number of bad-intended-individuals who see opportunities for financial gain – at your cost.

Unlike them, I aim to provide helpful insights rather than simply promoting it relentlessly without care of the consequences.

Unfortunately, the crypto industry often rewards individuals who tell people what they want to hear rather than those who provide genuine help. These so-called "crypto influencers" often have over a million followers and promote buying crypto, specifically Bitcoin, even when it may not be wise to do so.

Their followers trust them blindly; not because of their accuracy, but because their messages make them feel good. It’s all about psychology. During the last market peak, many of these influencers were shouting that Bitcoin would inevitably reach $100k, urging people to buy in. This was mainly to increase their own profits rather than to help others.

Sadly, many who followed this advice ended up losing significant amounts of money when the market crashed. While some influencers apologised, most refused to acknowledge their role in these losses and continued to push their advice.

It's essential to think critically and avoid blindly following the advice of crypto influencers.

Something seems amiss with Bitcoin. Despite the stock to flow model predicting 100k and the S2FX forecasting 250k during the last cycle, Bitcoin fell short at 69k. Many try to justify this by citing factors like paper Bitcoin in the system - but the numbers show that returns are diminishing.

The greatest Ponzi-scheme in the world cannot continue indefinitely.

People are getting smarter. Those who were hurt and misled in the last cycle are out for revenge and ready to take profit. There are more of them than ever before, making it increasingly difficult for early investors to profit from those who buy at prices over the all-time high.

Now, you have to convince people to buy something worth $70,000, which is a challenging task.

Despite the argument that ‘you don't have to buy a whole Bitcoin’, many still want to do so, even if it means buying coins worth less than a cent to give them an illusion of ownership – i.e. buying shitcoins.

It's highly probable that there isn't much time left to take advantage of Bitcoin cycles, as it becomes more difficult to persuade people to either repeat past mistakes of buying at high prices or to convince new investors with little knowledge of Bitcoin to buy. This makes the future of Bitcoin uncertain.

It's time to face the truth: you're not an early adopter of Bitcoin.

Technology evolves rapidly - and eight years ago, or more, was ‘early’ in Bitcoin. You might hear people boasting about how much they would have earned if they had bought Bitcoin at $10, but that ship has sailed, and even those who made a fortune from it aren't holding on to it now. Time is running out.

The more emotionally invested you are in your investment, the more likely you are to make bad decisions and have a distorted judgment.

Bitcoin has a way of triggering emotional attachment in people, more than any other investment in history. Fear and greed keep the cycles going.

Bitcoin is a SCAM – The Alternative Perspective

Charlie Munger, a 99-year-old billionaire investor, recently sparked a heated debate in the cryptocurrency community after he expressed his disdain for Bitcoin and other digital currencies.

Munger has called for a complete ban on cryptocurrencies, similar to China's stance on the matter. His comments have been met with backlash and criticism from many supporters of digital assets.

Despite his age, Munger's comments have been taken seriously, and his investment advice has been highly valued over the years. However, his views on Bitcoin have caused many to question whether he truly understands the technology and the potential it holds for the future of finance.

So, what exactly is Munger's problem with cryptocurrencies, and why is he so vehemently opposed to them? To understand his stance, it's important to take a closer look at his life and general investment strategies.

Munger's fortune was built on the back of the biggest monetary experiment in history – the Federal Reserve's establishment and the end of the Gold Standard in 1971 under President Nixon. As a result, Munger is a direct beneficiary of the Cantillon Effect, which refers to the uneven distribution of new money throughout the economy. The Cantillon Effect benefits those who receive the new money first, while devaluing the purchasing power of those who receive it last.

Given his investment strategy and background, it's not surprising that Munger has no interest in cryptocurrencies. He believes that investing in US and Chinese stocks is the best way to store value and accumulate wealth. For him, any investment outside of stocks doesn't make sense and doesn't benefit him.

Munger's criticism of cryptocurrencies has been characterised by his use of derogatory terms, such as "crypto shit," and his dismissal of the technology's potential. He has also called those who invest in cryptocurrencies "idiots" and accused them of engaging in "asocial behavior."

Munger's disdain for cryptocurrencies extends beyond Bitcoin to all other digital asset protocols and altcoins. However, his stance on Bitcoin is particularly noteworthy, given its rising popularity and geniune potential to disrupt traditional financial systems.

What if Munger did take a closer look at Bitcoin and realised its potential to challenge traditional investment strategies? What if he recognised that Bitcoin has the potential to become a significant store of value, potentially taking market share away from stocks?

If this were the case, it would highly likely make Munger even more angry and participate in lobbying for an outright ban on Bitcoin. However, such a ban is unlikely to be effective, given Bitcoin's decentralised nature and global user base; something Munger may not fully understand.

Despite Munger's negative views on cryptocurrencies, many in the cryptocurrency community, particularly younger people, believe that his opinions are outdated and irrelevant. Cryptocurrencies have gained significant traction over the past few years, and many think it would be foolish to ignore their potential.

In the end, whether Munger likes it or not, digital assets - particularly Bitcoin and Ethereum, are very likely here to stay.

The US government is unlikely to ban Bitcoin, given its potential to counter the rise of China. Therefore, Munger's opinion on the matter may be meaningless, and he may have to come to terms with the fact that he cannot control the future of finance.

Here are some facts and figures to understand the argument against caring what he thinks:

Munger was born just 11 years after the Federal Reserve was established and made most of his fortune after Nixon ended the Gold Standard in 1971. He is a direct beneficiary of the monetary experiment that followed and has no plan or reason to change anything. He has also heavily invested in China, which has a similar monetary system, but openly communist. Munger's wealth, persona, and world view are built on the "benefits" of the Cantillon Effect.

Munger's Disdain for Non-Stock Investments

Munger has no need for anyone investing in anything other than stocks, be it crypto or other assets. He sees stocks as the only viable store of value and vehicle for savings, and anything else doesn't make sense for him.

Potential Threat of Bitcoin to Munger's Investment Strategy

Munger may not have fully understood Bitcoin and the difference between it and other cryptocurrencies. However, if he does realise its potential, he may see it as a threat to his investment strategy. Bitcoin has the potential to suck the store of value premium out of stocks and reduce their appeal, which would not benefit Munger. A government ban may be his only solution to prevent this from happening.

Bitcoin's Resilience and Potential Geopolitical Significance

Despite Munger's opposition, Bitcoin is here to stay. The US government is unlikely to ban it, as it is their best shot at countering China's rise. Munger's investment strategy for the 21st century may be ruined by Bitcoin's resilience and potential geopolitical significance.

In conclusion, while Munger's opinion may carry weight due to his wealth and influence, it is important to consider the biases that may inform his stance. However, in the end, Bitcoin's resilience and potential may render his opinion obsolete regardless.

The 99 Year Old Billionaire; Should Bitcoiners Care What He Thinks?

I've searched for but have been unable to find a resource that summarises, in simple terms, the use cases of the top 5 cryptocurrency tokens by market cap. This is why I've written this article; hopefully you will find it interesting and informative.

As you are likely aware, there are many different types of cryptocurrency tokens. 

Some tokens are seeking to be 'sound money', 'stores of value' and 'non-government controlled currency' like Bitcoin; others are open-source software development platforms, where decentralised applications - or dApps for short - can be built like Ethereum. Owning a crypto token itself is simply owning a stake in the respective protocol. The reason all types of tokens get bunched together is that, regardless of which protocol the crypto token relates to, it has a capital trading value that investors and traders speculate on by buying or selling; generally by using an exchange or an Over The Counter (OTC) broker.

There is almost an infinite list of cryptocurrency tokens. Many have unique characteristics distinct from one another relating to security, supply, decentralisation and algorithms. For token creator teams, whom are typically software developers, it is all about differentiation, unique selling points and/or building upon successes of other protocols and fixing their perceived weaknesses.

The one thing I want to make clear is that all of the tokens are not in direct competition with one another. Those who think that they are, are confusing the concept of investment (the opportunity to make money speculating on the price of tokens going up or down) with what the protocol actually does - the latter being the 'use case'. 

If you are thinking about speculating on the price of crypto tokens - by investing - then my strong view is that you really ought to take time to understand whether the protocol has value to the world. This is what will drive the price of the tokens over the longer term.

Read on for a simple summary of each of the top 5.

Insights