Luna just changed "ownership"
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Yes, UST too. Both for about double the price this time yesterday.
USD-LUNA on FTX
USD-LUNA on Binance
USD-LUNA on Bittrex
Note that the prices on Bittrex can be different by a lot. FTX and Binance tend to converge.
USD-LUNA on FTX
USD-LUNA on Binance
USD-LUNA on Bittrex
Note that the prices on Bittrex can be different by a lot. FTX and Binance tend to converge.
what is this discussion about? LUNA and all the other crappy stuff that has premined volume, ICO, are controlled by an individual or company, ... are about to disappear, these are not any different from fiat and have no future
there is BTC and maybe (big maybe) 3-5 others that have long way to go to prove they are like BTC and have some additional value (e.g. can serve as layer two or have features others don't)
there is BTC and maybe (big maybe) 3-5 others that have long way to go to prove they are like BTC and have some additional value (e.g. can serve as layer two or have features others don't)
hilarious and sad at the same time.
I don't agree with the word "ponzi" tho, because not every "fraud" is "ponzi", (maybe this is more akin to "death spiral financing" with the stock market) and overall, this was just a poorly executed plan that had vulnerabilities that were exploited.
The thing is, these high "APY" coins are like playing hot potato. It only works if you get out before you get burned.
because If it were that easy to earn 20%︀ APY on a truly stable currency, everyone and their mother would be doing it. They︁ weren't because it's risky as hell.
look up luna and ust and how the algorithmic︂ pegging works (absolute and utter s**t) and then look up the definition of a Ponzi.︃ both will make you lose money but they are not remotely the same thing.
although Some projects or "stable coins" are more "trustworthy" than others, USDC, PAX, GUSD, PAXG..etc (a︄ lot of them are "independently" audited). but, you still "trust" a centralized entity with your︅ money, when crypto - supposedly - should be trustless.
I bought tera at 11 dollars︆ back in august 2021 and and sold at 60 dollars or so in december last︇ year, and made insane returns, but I know the risks that came with it, and︈ If i lost it all, well, it is what it is, you gain some, you︉ lose some. end of story
I just hope that this wave will weed out the︊ people who aren't ready to handle the risk that comes with anything crypto ( i︋ dont wanna call them stupid, financially illetrate or any names). I just hope that they︌ leave this space on its entirety. crypto in it's current state is, unforunately, like gambling︍ (Calculated or not, it still carries risk) and you can't gamble at the casino and︎ then throw hands because you lost. it doesn't and will never work like that.
Sad, but I hope that people can learn from this and don't do the same mistake️ twice.
I don't agree with the word "ponzi" tho, because not every "fraud" is "ponzi", (maybe this is more akin to "death spiral financing" with the stock market) and overall, this was just a poorly executed plan that had vulnerabilities that were exploited.
The thing is, these high "APY" coins are like playing hot potato. It only works if you get out before you get burned.
because If it were that easy to earn 20%︀ APY on a truly stable currency, everyone and their mother would be doing it. They︁ weren't because it's risky as hell.
look up luna and ust and how the algorithmic︂ pegging works (absolute and utter s**t) and then look up the definition of a Ponzi.︃ both will make you lose money but they are not remotely the same thing.
although Some projects or "stable coins" are more "trustworthy" than others, USDC, PAX, GUSD, PAXG..etc (a︄ lot of them are "independently" audited). but, you still "trust" a centralized entity with your︅ money, when crypto - supposedly - should be trustless.
I bought tera at 11 dollars︆ back in august 2021 and and sold at 60 dollars or so in december last︇ year, and made insane returns, but I know the risks that came with it, and︈ If i lost it all, well, it is what it is, you gain some, you︉ lose some. end of story
I just hope that this wave will weed out the︊ people who aren't ready to handle the risk that comes with anything crypto ( i︋ dont wanna call them stupid, financially illetrate or any names). I just hope that they︌ leave this space on its entirety. crypto in it's current state is, unforunately, like gambling︍ (Calculated or not, it still carries risk) and you can't gamble at the casino and︎ then throw hands because you lost. it doesn't and will never work like that.
Sad, but I hope that people can learn from this and don't do the same mistake️ twice.
Binance’s Luna investment was worth $1.6 billion. Now, it’s less than $3,000, and the CEO is moving to protect users
https://fortune.com/2022/05/16/bina...stablecoin-retail-investors-crypto-crash/amp/
ok, LUNA is gone, it's a good thing, everybody here understands that, right?
hopefully this will lead to drift of capital from nonsensual projects/coins to solid ones that are really decentralized and different from fraudulent fiat systems
hopefully this will lead to drift of capital from nonsensual projects/coins to solid ones that are really decentralized and different from fraudulent fiat systems
i doubt that luna is gone.......but its another scam taking liquidity from new buyers to old buyers.i'm pretty sure cz is involved in it and has now a VERY big stake in luna.
Noone is going to tell me he stopped trading after a 99.99% price loss to protect users like he claimed 😀
Noone is going to tell me he stopped trading after a 99.99% price loss to protect users like he claimed 😀
You think people will sell their Dogecoin and Shiba Inu? They are still the 10th and 15th biggest crypto as I type 😕.
I hope some of them might reconsider
on the other hand these two might be actually and surprisingly less fragile than LUNA - as I mentioned above the problem is premining, dependency on a company or creator and other aspect - I'm no expert in shitcoins though
on the other hand these two might be actually and surprisingly less fragile than LUNA - as I mentioned above the problem is premining, dependency on a company or creator and other aspect - I'm no expert in shitcoins though
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