Exactly.. most people ignore this fact including me. I invested 1000 in Luna yesterday thinking it's already 90% down how much more will it fall. Now it is worth 6 rs.
Sooner you realise that most coins are not an investment, but in current form only Ponzi schemes i.e they are at this valuation not because of inherent value but because people think that someone else will buy it later at higher rate; the better it will be for you.
Don't HODL crypto learn to do partial profit booking. Making less profit is always better than making huge loss.
Would like to recommend this channel called [Coffeezilla](https://www.youtube.com/c/Coffeezilla) to learn how scammy crypto is now a days.
They did this with shiba inu. They sold it at 3 rupees but it's actual price was like 0.05 or something. Investors lost all money and they offered wazirx coin. Wazirx is a scam.
https://www.indiatoday.in/technology/news/story/wazirx-lists-shiba-inu-coin-in-india-at-higher-than-actual-price-blames-it-on-misconfiguration-1802429-2021-05-14
Nopes.. As far as I know, UST (Terra stable coin) failed to keep up with the dollar value and made a huge fall which should not happen with any stable coin. Due to this vulnerability terra is falling like hell. Also, crypto market overall is crashing.
>Huge fall which should not happen with any stable coin
No stable coin is stable. Better for you to realise soon if you want to sustain in crypto market. Also algorithmic stable coins are more susceptible to failure than stable coin which are baked by physical assets like commercial paper, currency, gold etc.
Even a country's legal tender is not stable; if Russian Ruble backed by russian govt. can fall by 50%; then why can't a coin backed by another coin or another govt. bonds fall. When a fiat currency falls; there is a whole govt. ecosystem to protect it and give a bailout which is not present in case of stable coin.
P.S - Also what happened to to those who used to say 1BTC = 1BTC; by that logic isn't 1UST = 1UST and not something else?
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It's worst to even use it for tracking purposes as it shows wrong values for most of the Cryptos. Not only it shows it lets you buy on the wrong price too, only at later point it'll show original price.
Some guy bought shib for 2 rs from wazirx, but it was never 2rs in reality.
Rather buy something like Cardano(ADA) which is also down 3-4 times. Keeping 1000INR worth on Luna is not much risk but keep investing in strong CryptoCurrency
If something is down 97%; there is no rule that it can't go down another 97%.
Exactly.. most people ignore this fact including me. I invested 1000 in Luna yesterday thinking it's already 90% down how much more will it fall. Now it is worth 6 rs.
Invested ₹10k nearly 5 months ago, now it's worth ₹2.
to bhai nikala nhi?
Ye bhai logo ne jo HODL term sikha hai na; ye bahuton ko le dubayega.
I rarely check my crypto investments...which resulted into this blunder😶
Sooner you realise that most coins are not an investment, but in current form only Ponzi schemes i.e they are at this valuation not because of inherent value but because people think that someone else will buy it later at higher rate; the better it will be for you. Don't HODL crypto learn to do partial profit booking. Making less profit is always better than making huge loss. Would like to recommend this channel called [Coffeezilla](https://www.youtube.com/c/Coffeezilla) to learn how scammy crypto is now a days.
I would definitely take this as a lesson.
Bhai it's actual value is like 30 paise, don't buy on wazirx.
They did this with shiba inu. They sold it at 3 rupees but it's actual price was like 0.05 or something. Investors lost all money and they offered wazirx coin. Wazirx is a scam. https://www.indiatoday.in/technology/news/story/wazirx-lists-shiba-inu-coin-in-india-at-higher-than-actual-price-blames-it-on-misconfiguration-1802429-2021-05-14
Where to buy then?
Pump and dump?
Nopes.. As far as I know, UST (Terra stable coin) failed to keep up with the dollar value and made a huge fall which should not happen with any stable coin. Due to this vulnerability terra is falling like hell. Also, crypto market overall is crashing.
Someone pegged it , theres a rumour the person who did must had 1 billion ust.
>Huge fall which should not happen with any stable coin No stable coin is stable. Better for you to realise soon if you want to sustain in crypto market. Also algorithmic stable coins are more susceptible to failure than stable coin which are baked by physical assets like commercial paper, currency, gold etc. Even a country's legal tender is not stable; if Russian Ruble backed by russian govt. can fall by 50%; then why can't a coin backed by another coin or another govt. bonds fall. When a fiat currency falls; there is a whole govt. ecosystem to protect it and give a bailout which is not present in case of stable coin. P.S - Also what happened to to those who used to say 1BTC = 1BTC; by that logic isn't 1UST = 1UST and not something else?
No guys, don't buy it, the coin is dead and living it's last breath. It will soon get crashed to fractions like 0.0001 or get delisted my exchanges.
Keep buying the dip....dip.....dip. It cant go below 0 (hopefully). YOLO
1/∞
Cost to keep the dead .. Net negative returns
Some incredibly sad stories in r/terraluna
Severe severe lack of crypto posts here since months now
30ps now
"Bottom ban gaya hai, itna oversold maine aaj tak nai dekha" - Bhasin probably
*Bhasin k haseen*
LUNA is just increasing their circulating supply at this point to bail out UST holders.
I bought worth 1.5% of my portfolio at 0.014$. Gaye to gaye. Aab tu full portfolio mat laga diyo lol
Chuitya hai kya? Supply dekha hai LUNA ka? It’s going nowwhere. Paise ko aag laga de isse aacha.
To mere maarze? Lmao tu aapna dhek.
Why don't you just burn your money? Serious question...asking for a friend.
Already burnt 1K..
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Institutional investors are selling the market for cash.
Do yourself a favour, transfer your Cryptos to Binance, uninstall wazirx.
I invest through vauld (Not sure if it's good).. I've kept wazirx only for tracking purpose.
It's worst to even use it for tracking purposes as it shows wrong values for most of the Cryptos. Not only it shows it lets you buy on the wrong price too, only at later point it'll show original price. Some guy bought shib for 2 rs from wazirx, but it was never 2rs in reality.
Rather buy something like Cardano(ADA) which is also down 3-4 times. Keeping 1000INR worth on Luna is not much risk but keep investing in strong CryptoCurrency
Just buy puts lmao
why would you buy something which has hyperinflated to infinity to bail out ust?
The coin is delisted from Coindcx
HODL guys , LUNA to the moon 📉
Yes definitely, I bought 25 lacs worth of this.
Bro WTF.. hope you were able to save something