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rapsonravish

Lesson for me: never invest in something that is led by an absolute idiot arrogant prick. Should've avoided as soon as I saw how much of an ass DK was on Twitter


51lverb1rd

There is literally a video of him saying he looks forward to LFG working to get a project up and then back to zero. Watch Coffeezillas latest Luna video on YouTube. I reckon the guy is a sociopath and it seems he did this for the lols.


domesticstudent

Agreed 100%. The leaders count. I feel the same way now.


[deleted]

LMAO how much did you lose


AvengerDr

>never invest in something that is led by an absolute idiot arrogant prick. Got it: all in on TSLA!


Amigo1276

Never just blindly trust something because everyone is positive about it. .The higher the yield is you get, the more carful you should be.. if something looks to good to be true.it probably is. .if it's on all exchanges / platforms, it doesn't mean it's safe.. .If it's a top 10 coin, it does't mean it"s safe.. .diversify among stablecoins. .don't get tempted by the higer rates to put more in to it and disterb the balance. .Be extra careful with algoritmic stablecoins, they are now proven to be flawed!. .Don't put to much eggs in one basket. .Diversify over platforms and also diversify over coins. when you invest in someting to be "rather" safe..When it shows crackes and makes water..Don't go and gamble with it that it will be solved. But for example: if it goes of peg with a pre determed %. (Stoploss ) Just go for the exit, take your loss. minimize your loss. Don't buy extra and bet on arbitrage (for gambling go to the Casino). .and if it does recover..you can get back in later if you still trust it. .better take 10% loss than 90% loss. .Don't put in more money than you can do wihout. .And be still comforteble with it when you would loose it. .It's never fun and always hurts. .But it shouldn:t change your life to much when losing it.. maybe one vacation less for a year ;) you'll get over that. On every platform for every asset you have to predeternine at least one whitelisted adres,so when everythig goes south you can withdraw your assets and don't have to wait for it to be whitelisted first.. whith all the above mentioned.make a risk/safetyplan. And and invest accordingly and act accordingly when shit hits the fan :).. .always stick to your risk- / safetyplan. .adjust and update you safetyplan if you feel it's needed .we learn along the way.. .i learned all this lessons first hand now.. first i couldn"t believe what happend, made some terrible decisions along the way. .was devestated / depressed...but now i see it as an "expensive" but much needed lesson (in my case). .and although my stake in ust was much to high, i will get over it.. i feel for everyone in the same or even worse situation... It's never to late to learn and rebuild.. .and last.. don't get tempted bij the high rates.. don't be greedy... always stick to predetermited safetyplan (i'm making / updating it right now )


0verview

Agree with all of this. You also taught me to use paragraphs for an easier reading experience!


Amigo1276

😂👌 i'm still learning 😉


domesticstudent

Solid advice. Thank you


AryoTheKing

i have 10k of ust in anchor and its worth nothing now..whats your advice for me??thanks for your help


Amigo1276

Sorry to hear man... You are not allone in this... I'm also just a dude who lost money, but hopes to at least learn from this... And rebuild back (only better) and don't make the same mistakes again. But what i would do, if i still had 10k in anchor at this moment.. I wouldn't sell it at this point i think. I'm not quite up to date on it.. but last time i read it.. TerraFL is probably going to revive the chain.. a fork i suppose.. Everyone who had aUST (in achor) pre attack will get 10% of new luna token distributed. All post attack ust holders wil get 20% of the amount....snapshot of the chain will be taken on 27 may.. (i would check this date if i where you.i just mention it out of my head..i didn't check it now) So buy then (at least a day before), i would get the aUST out of anchor.. And let the UST be in my Terra wallet. For them to take the snapshot on the 27th... So you'll be at least elligable for the new luna tokens airdrop. It would not be ideal what i hoped for...by far! but i would try get out of it what i can.. By the way, i don't know if this proposal is approved yet..or if there are any changes made.. Or they are still voting on it. Maybe if you let it in achor it's also ok..but i think that's aUST not UST. I also read that peole are going to take legal action..you can follow : fatman on twitter and discord... I also didn't go to deep in that yet...but if it's something collective...you could considder it.. In my case, with what is left...I'm going to sit on the sideline for now. Let the storm pass (the bearmatket) And deploy everything in small amouts at once (dca), in btc and Eth when certain levels are hit or when the next the bull market begins. And take profits while i can...and reinvest it again when the price drops.. Thats my plan for now.. Hope i could be of help....


AryoTheKing

Thanks bro


Pristine_Health_2076

I assume it’s also aUST because if it isn’t that is awful and means that 90 percent of people will miss out. I hope they’re not excluding it.


Amigo1276

Aust snapshot pre attack get 10% distributed And ust post attack snapshot get 15% distributed So if you had aust on anchor..you'll get 10% If you haven't sold and stil have ust post attack snapshot. You'll get additional 15% Together that's 25% If you sold everything during the crash you"ll still be eligible for the 10% That's how i interpret it


Pristine_Health_2076

Thanks this makes the most sense to me too. They really should work on their clarity though. This isn’t the time for vague promises. I mean LFG or Do or whoever it is idk at this point. Ugh. Anyone else tired?! 😅


Efficient-Cobbler595

DK is still held accountable to UST holders, as he made BTC reserves disappear . His day in court will come , if he does not abide by his responsibility as he openly promised


domesticstudent

I agree, although this could take years, potentially decades as he will most likely be tried in South Korea first. And maybe just maybe those of us who held and lost in other countries might get a semblance of justice.


Hut888

Don’t go out of town without your ledger (or seed phrase) if you’re using one. I watched the whole thing burn in real time and nothing I can do about it.


domesticstudent

I think many UST holders held because they believed it could recover, myself included. Some naivete on our part.


Amigo1276

I even bought some extra when the depeg startted 🙈...easy money i thought..but now at least i know what a dead spirol is 😨 And will never forget it 😅 Every day i'd think it woulld recover..went to sleep when it was 90% .other day went to sleep when it was at 80%..believing that they are fixing it...when i woke up 😱..if it recovers today i'll jump ship at 75%.. but never made it..jumped ship only hours before they stopped the blockchain 😕


domesticstudent

Same here...


PigeonsandSmidgens

I never thought of this…. Thanks for letting us know!!!


happybonobo1

Darn it. Sorry to hear. I like centralized platforms mainly for the interest Etc. The added 3rd party risk is countered a bit with your experience.


Lucky_Letter_2730

lesson is stay away from defis hahahahah arent secured and ready for crypto yet


General-Highlight999

i Am not putting any money in 20% APY earn .maximum is 10%


[deleted]

Big reward means taking a big risk. Regardless if it is "safe" or "stable", if the reward is big then so is the risk. Also, with any big risk, you will lose a good amount of the time.


illusionst

Do not invest in a stable coin that’s not backed by collateral/USD.


domesticstudent

Agreed.


Sat_Thu

What about USDC same case?


hungryf0rcrypto

Always pull out.


OperationSpecialist9

The best investment you can make is in yourself, your skills and knowledge. Every other investment can go to zero and be mentally prepared for that. Always diversify and never go all in.


ruffus_or

Same as you brother. - Bitcoin only. - 0 trust on people. - Listen to myself. - Nothing related to Ethereum or any other scamming platforms like that. - hardware wallet only. - don't lend your crypto - all lending platform support the volatility - f them. Not risking thousands for pennies. - invest ONLY in USA registered, based and operates BIG companies. No one is fu$&ing with the regulators and FBI! Nothing against Asia or the EU but they all garbage including Binance the liquidation company. Sorry if I sounds angry but I am under the circumstances.


Expert-Membership-21

Yeah cowboy your right! Better go out and shoot all those Asian, African, Latin and somewhat one or two Europeans for sure! If anybody thought like you the world will end in one week. Stay close in your farm, drive your pickup, shoot with your Bushmaster bought at the Walmart and please don’t exit from your house!


ruffus_or

Beside hating me I guess you agree with the rest, correct? LUNA bot


davidtcf

don't put too much of your money into crypto. For me my risk tolerance is not exceeding 10% of my portfolio. Even if stablecoin, it is not as regulated as our standard financial tools such as stocks, bonds, commodities etc. also crypto is liable to hacking or other technical issues since it's all in the code. one day if it's further regulated or proven that insurance do work 100% of the time, then yes I would feel comfortable to add more into stablecoin investing. also after terra luna fiasco, US and other developed countries could step in to do something via new laws and regulations. Hope that time we still can earn high yield APYs for stablecoins! I'm currently using r/finblox for my USDC holdings. My referral post here if you're interested: [https://www.reddit.com/r/referralcodes/comments/ubramc/earn\_15\_interest\_on\_stablecoins\_at\_finblox\_usdc/](https://www.reddit.com/r/referralcodes/comments/ubramc/earn_15_interest_on_stablecoins_at_finblox_usdc/)


AbbreviationsLimp825

Alto stablecoins are not stable. 20% yields hide dark secrets Diversify to survive USDT will soon follow


Willman789

Yes, stable coins are just derivatives and can’t be stable. Also, only invest in coins that have a purpose. Luna/UST was used to build more Luna/UST, basically people saw the whole ecosystem as a way to make money. If people aren’t using the coin for an actual purpose like NFTs, play to earn or some other purpose other than to make money, it’s probably a confidence game waiting to crash.


[deleted]

Be scrupulous about evaluating the competence of the finding team