Reddit Posts
LUNA INU ($LINU) Trending on Coinbase: Memecoin with Potential Ahead of Bitcoin Halving?
Me, waiting for SEC announcement about ETFs…to buy that juicy dip in ALT coins.
Court Rules In Favor of SEC, Deems TerraUSD, LUNA As Unregistered Securities
Noob question: why tokens like USTC, LUNC and FTT are still being traded?
In another reminder that crypto is just people chasing fast money and hype, two of the most disgraced and dead projects in LUNA and FTT are ranked 1st and 3rd for 1W gains in the top 100 with massive buying
Sensible predictions for the next market bottom? Greedy buyer who missed the train, asking.
Trader Who Placed $10 Million Bet Against LUNA Loading Up Reddit's Moons
Over the last one year, we had Addresses with over 1 BTC hitting a new ATH, transactions increasing further and Active Entities growing further in Crypto. The most bullish bear market ever.
The most popular way investors look at charts and it's flaw [SERIOUS]
Some of you might be in a world of hurt if you're over-leveraged, especially in small-caps
Do Kwon's Secret Messages Exposed Before Terra (LUNA) Collapsed: Was This the Cause of the Breakdown?
Are there any indicators that can warn us that an exchange is going bankrupt or a project is failing?
Anyone still have LUNA stuck in Terra Station?
A personal bullet-proof (hopefully) way to secure your assets
Looking back: FTX did not really collapse all by itself, but LUNA had given the first punch that pushed everything down.
Today marks 2 years that I got into crypto! Here are some learnings from this journey so far
What will the next FUD event be?
Trader Who Placed $10 Million Bet Against LUNA Loading Up Reddit's Moons
No, this is NOT the “longest“ bear market in Crypto history, people are drawing unlogical lines to click-bait here. We should stick to the truth.
FTX Cold Wallet Actively Transferring Tokens. Till Now Transferred Over $10 Million Using Wormhole
After nearly two years of a bear market, even the current dips barely make any change in realized losses. Clearly the bears seems to have dried out.
Let's have a [SERIOUS] conversation about Binance. Is it really a shady exchange or 'Binance FUD' is more popular because it gets more clicks?
DongCoin decoded: Delving deeper into South Korea's meme coin revolution
How Many Terra Classic (LUNC) Tokens Burned in the Last 1 Month? At this Rate, How Long Will It Take to Fall to the Old LUNA Supply?
The Terra Luna Crisis. Updates and Potential Outcomes.
Stablecoin Protocol Harbor Suffers Hack Attack: Some Pools, Including LUNA Are Affected
These past 2 years were worse for crypto than the Mt Gox hack and if you’re still here, congrats.
The best legal analysis on why the XRP ruling was rejected in the LUNA case
The best legal explanation on why the XRP ruling was rejected in the LUNA case
Lost It All Twice in Crypto... Until I Uncovered THIS Secret
Major crypto news sites reporting MOON news is very bullish.
Ignored my Crypto wallet for a few years, now seeing that KuCoin is no longer available in the US. What does this mean for my assets?
Trader Who Placed $10 Million Bet Against LUNA Loading Up Reddit's Moons
for those who bought the top in November 2021, how are you holding up?
What its like currently holding ADA. Part 2.
What its like currently holding ADA part 2.
Major crypto news sites reporting MOON news is very bullish.
Is this the most non boring /action packed bear market to date ?
Trader Who Placed $10 Million Bet Against LUNA Loading Up Reddit’s Moons
Relive the crypto crash of '22 here. Events, mistakes, achievements. A lesson to remember, never listen to crypto analysts as nobody knows anything.
[Satire] Seven years ago bitcoin forked and the true vision of Satoshi was born - Bitcoin Cash
Only In Crypto: Bankrupt 3AC Founders Launch 'Justice' Token Targeted At Terra (LUNA) Whistleblower
Move aside hamster racing theres a new game in town, its called cryptocurrencies
PAXG - what are your thoughts on gold backed stable coins?
Will "inverse r/cryptocurrency sub" strike again?
Last bear markets we see suicide hotlines pinned, this time there is none of these posts. Have the crypto space matured?
It’s quite ironic how last year we were in complete fear of the current price levels of $30k, but now we are in complete greed at the same price. Crypto just outplayed us.
Chris Amani replaces Do Kwon as Terraform Labs new CEO
Stablecoins - are they safe? Is all the USDT FUD deserved? [NO MOONS]
Stablecoins - are they safe? Is all the USDT FUD deserved? [SERIOUS 2] [NOMOONS]
KeeperDAO ROOK - down 96% in Last Week
We are in a bullmarket since early 2023! The bullrun is inevitable, it will be HUGE!
People here often joke that we should inverse this subreddit. Is there truth to this idea and why (not)?
One year ago the media was starting to call Bitcoin an “insignificant fallacy“ as prices fell to sub-$20k. Guess they were wrong once again.
Over a year ago, after Luna collapsed CZ said he was "poor again". That was highly insulting to people who actually lost their life savings. It was just another example how billionaires do anything for attention, to make you like them and that they are not our friends
If your portfolio is not down more than 50%, and you didn't invest in FTT, LUNA, CRO, SOL, etc..., or some overpriced NFT, and you are still holding strong, CONGRATULATIONS! You are still doing far better than Kevin O'leary, Mark Cuban, Tom Brady, and so many of the big names in crypto.
Luna 2.0 - A True Crypto Redemption Story
If your portfolio is not down more than 50%, and you didn't invest in FTT, LUNA, CRO, SOL, etc..., or some overpriced NFT, and you are still holding strong, CONGRATULATIONS! You are still doing far better than Kevin O'leary, Mark Cuban, Tom Brady, and so many of the big names in crypto.
BTC has been down year-over-year for over 490 days this bear market, the highest there has been EVER. This bear market was truly exceptional.
What do you think crypto is going to do with your life?
Here's why most people will repeat all the same mistakes (and we can already see it right now). Why we keep seeing so much of the same in every cycle, and people don't seem to ever learn. And why even crazy macros haven't made that big of a dent in the long term cycles.
We just had our highest monthly and weekly close since May 2022. The difference, back then we are moving down in fear and now we are moving up in greed.
Even with all of the pumps above bear market lows, there were barely any remarkable realized profits. People just are not ready to soll at such low prices.
A largely unnoticed crypto fraud of massive proportions (over $500 million)
Liquidity tightening: Impacts on crypto.
Nearly 69% of all Bitcoin Supply did not move in over one year. Meaning that the majority of holders had enough conviction to hold through one of the most brutal bear markets ever for Crypto.
We're on the verge of the biggest crypto bullrun in human history: this is why...
FTX paid $121.8 million in legal, consulting and financial services between Feb. 1 and April 30, aka around $1 million per day while the users who lost money have gotten nothing back.
12 years ago, the Great Bitcoin Crash of 2011 began with seven daily -20% declines in a span of five months.
We should all remember that literally no company is “Too big to fail“, not even Binance or Coinbase. Don‘t bet too much on them.
After all of this drama of “securities“, long-term holders did not even flinch and sold nearly nothing. Be like them.
Do you guys think that it is time to write off all non-ETH L1s?
Who are in jail and who are not , fun 2023 crypto update !
Algorand: Many of us were bullish and invested. Now Algo is down more than 96% in USD and 99% against Bitcoin. What can we learn from this experience to prevent making the same mistakes in the future?
Most of our current “stricter“ Crypto rules are just thanks to Do Kwon and SBF‘s scandals last year. They basically gave every argument to regulate Crypto as hard as possible.
Discord bot to help track your crypto assets
I made a Discord bot to track my bag
Terra Classic Token (LUNC) Soars 28.59% in Just 24 Hours
Don't rely on others doing the research for you when investing, most of the time those people also rely on someone else and the faults a coin has gets overlooked
Buying established alts doesnt pay off
The cognitive biases of the crypto investor
[Serious] Does LUNC is now considered a meme coin?
I thought the bear market would be a thrilling ride, but aside from some exciting moments, it is most of all really, really boring. How do you cope with the boredom?
Mentions
#DeFi Con-Arguments Below is a DeFi con-argument written by noxtrifle. > DeFi, or decentralized finance, is a method of transacting without the need for an intermediary, and in many ways replaces the traditional banking systems. Instead, a smart contract at the core of the app manages the whole system. However, the lack of regulation in the DeFi space is the root of several issues, such as: > > * **Lack of regulation** > * Like most cryptocurrency-based technologies, DeFi protocols lack comprehensive regulation. This allows doomed (or untruthful) systems like LUNA to thrive while investors are robbed of the money placed in DeFi protocols. > * Regulation is also a crucial factor in letting investors know that a protocol is compliant with legislation, so a [lack of regulation inhibits the potential of DeFi](https://www.insiderintelligence.com/content/lack-of-regulation-hinders-defi-s-disruptive-potential-modern-finance), especially to non-holders. > * **Barriers to entry** > * To enter the DeFi space, especially the most mainstream ones such as Curve and Compound, the ownership of crypto is *necessary* to participate. As such, people who are not tech-savvy or do not believe in crypto would not be able to experience the benefits of DeFi. > * That is, the mainstream adoption of DeFi is contingent on the mainstream adoption of crypto, something that could take decades to accomplish and would, in the process, stifle DeFi innovation due to a lack of users. > * **Risk** > * [CNBC](https://www.cnbc.com/2021/06/18/whats-defi-crypto-based-decentralized-finance-explained.html) highlights that there are 3 main types of risks with decentralized finance protocols. > * Technological Risk — that is, malfunctioning or malicious code could have catastrophic effects on the protocol, such as the [$90m glitch](https://www.cnbc.com/2021/10/01/defi-protocol-compound-mistakenly-gives-away-millions-to-users.html) suffered by Compound after an upgrade. > * Asset Risk — that is, since the cryptocurrencies used as collateral for loans are highly volatile in value, undue price movements would cause the mass liquidations of millions of users. On the other hand, loans from centralized banks remain relatively stable, and the only method of liquidation is defaulting. > * Product Risk — that is, since there is no regulation to protect investors from failed projects and that the value of a DeFi protocol is often determined based on its APY, it is commonplace to see DeFi protocols enticing users with unrealistic APYs and collapsing once they have a significant number of users. This entails the loss of investor funds, and is a similar situation to the [crash LUNA underwent](https://www.forbes.com/sites/billybambrough/2022/08/01/others-could-fail-imf-issues-stark-crypto-warning-after-terra-luna-led-crash-wiped-2-trillion-from-bitcoin-ethereum-and-crypto-market-price/?sh=82ebf157a23d) a few months ago. The IMF also warns of the product risk in decentralised finance. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find submissions for other topics.
> bloated inefficient technical debt. If you're actually interested then this part of the roadmap contains links to many of the different areas of this issue that are being worked on. https://domothy.com/roadmap/#the-purge What do you mean specifically by technical debt, because if you can't find it in that link I might be able to point you to relevant research, EIPs, etc. > every first mover advantage to put the other smart chains away, Honest question, do you know just how much Ethereum dominates innovation in crypto? Obviously other projects try to spin the narrative that Ethereum is old and outdated, and the new thing is EOS/NEO/SOL/AVAX/LUNA/SUI/etc etc... but the truth is that if you analyse where novel code is first deployed, 71% is first found on Ethereum, so again, more than double every other chain combined. https://www.developerreport.com/developer-report?s=71-of-contract-code-is
#DeFi Con-Arguments Below is a DeFi con-argument written by noxtrifle. > DeFi, or decentralized finance, is a method of transacting without the need for an intermediary, and in many ways replaces the traditional banking systems. Instead, a smart contract at the core of the app manages the whole system. However, the lack of regulation in the DeFi space is the root of several issues, such as: > > * **Lack of regulation** > * Like most cryptocurrency-based technologies, DeFi protocols lack comprehensive regulation. This allows doomed (or untruthful) systems like LUNA to thrive while investors are robbed of the money placed in DeFi protocols. > * Regulation is also a crucial factor in letting investors know that a protocol is compliant with legislation, so a [lack of regulation inhibits the potential of DeFi](https://www.insiderintelligence.com/content/lack-of-regulation-hinders-defi-s-disruptive-potential-modern-finance), especially to non-holders. > * **Barriers to entry** > * To enter the DeFi space, especially the most mainstream ones such as Curve and Compound, the ownership of crypto is *necessary* to participate. As such, people who are not tech-savvy or do not believe in crypto would not be able to experience the benefits of DeFi. > * That is, the mainstream adoption of DeFi is contingent on the mainstream adoption of crypto, something that could take decades to accomplish and would, in the process, stifle DeFi innovation due to a lack of users. > * **Risk** > * [CNBC](https://www.cnbc.com/2021/06/18/whats-defi-crypto-based-decentralized-finance-explained.html) highlights that there are 3 main types of risks with decentralized finance protocols. > * Technological Risk — that is, malfunctioning or malicious code could have catastrophic effects on the protocol, such as the [$90m glitch](https://www.cnbc.com/2021/10/01/defi-protocol-compound-mistakenly-gives-away-millions-to-users.html) suffered by Compound after an upgrade. > * Asset Risk — that is, since the cryptocurrencies used as collateral for loans are highly volatile in value, undue price movements would cause the mass liquidations of millions of users. On the other hand, loans from centralized banks remain relatively stable, and the only method of liquidation is defaulting. > * Product Risk — that is, since there is no regulation to protect investors from failed projects and that the value of a DeFi protocol is often determined based on its APY, it is commonplace to see DeFi protocols enticing users with unrealistic APYs and collapsing once they have a significant number of users. This entails the loss of investor funds, and is a similar situation to the [crash LUNA underwent](https://www.forbes.com/sites/billybambrough/2022/08/01/others-could-fail-imf-issues-stark-crypto-warning-after-terra-luna-led-crash-wiped-2-trillion-from-bitcoin-ethereum-and-crypto-market-price/?sh=82ebf157a23d) a few months ago. The IMF also warns of the product risk in decentralised finance. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find submissions for other topics.
Everyone knows that any crypto could lose almost all of its value at any time, and any holder is free to sell and take profits at any time, or not to buy if the price is too inflated, so I would have no issues with having taken profit on something that eventually crashes. I sold a ton of LUNA for profit, for example, when it actually had significant value and Do Kwon started insulting people who questioned the LUNA/UST mechanism and generally being a tool.
Courts are not consistent. A different judge ruled other tokens were securities. > “There is no genuine dispute that UST, LUNA, wLUNA and MIR are securities because they are investment contracts.” https://www.nortonrosefulbright.com/en-us/knowledge/publications/16178e2d/crypto-tokens-held-to-be-securities-as-a-matter-of-law-in-big-win-for-sec
Cardano is very relevant, it's pretty much the only properly decentralised cryptocurrency at this point, but you wouldn't know because the media that are ETH bag holders tell you to just worry about fiat prices and get rekt on LUNA, Celsius etc.
#DeFi Con-Arguments Below is a DeFi con-argument written by noxtrifle. > DeFi, or decentralized finance, is a method of transacting without the need for an intermediary, and in many ways replaces the traditional banking systems. Instead, a smart contract at the core of the app manages the whole system. However, the lack of regulation in the DeFi space is the root of several issues, such as: > > * **Lack of regulation** > * Like most cryptocurrency-based technologies, DeFi protocols lack comprehensive regulation. This allows doomed (or untruthful) systems like LUNA to thrive while investors are robbed of the money placed in DeFi protocols. > * Regulation is also a crucial factor in letting investors know that a protocol is compliant with legislation, so a [lack of regulation inhibits the potential of DeFi](https://www.insiderintelligence.com/content/lack-of-regulation-hinders-defi-s-disruptive-potential-modern-finance), especially to non-holders. > * **Barriers to entry** > * To enter the DeFi space, especially the most mainstream ones such as Curve and Compound, the ownership of crypto is *necessary* to participate. As such, people who are not tech-savvy or do not believe in crypto would not be able to experience the benefits of DeFi. > * That is, the mainstream adoption of DeFi is contingent on the mainstream adoption of crypto, something that could take decades to accomplish and would, in the process, stifle DeFi innovation due to a lack of users. > * **Risk** > * [CNBC](https://www.cnbc.com/2021/06/18/whats-defi-crypto-based-decentralized-finance-explained.html) highlights that there are 3 main types of risks with decentralized finance protocols. > * Technological Risk — that is, malfunctioning or malicious code could have catastrophic effects on the protocol, such as the [$90m glitch](https://www.cnbc.com/2021/10/01/defi-protocol-compound-mistakenly-gives-away-millions-to-users.html) suffered by Compound after an upgrade. > * Asset Risk — that is, since the cryptocurrencies used as collateral for loans are highly volatile in value, undue price movements would cause the mass liquidations of millions of users. On the other hand, loans from centralized banks remain relatively stable, and the only method of liquidation is defaulting. > * Product Risk — that is, since there is no regulation to protect investors from failed projects and that the value of a DeFi protocol is often determined based on its APY, it is commonplace to see DeFi protocols enticing users with unrealistic APYs and collapsing once they have a significant number of users. This entails the loss of investor funds, and is a similar situation to the [crash LUNA underwent](https://www.forbes.com/sites/billybambrough/2022/08/01/others-could-fail-imf-issues-stark-crypto-warning-after-terra-luna-led-crash-wiped-2-trillion-from-bitcoin-ethereum-and-crypto-market-price/?sh=82ebf157a23d) a few months ago. The IMF also warns of the product risk in decentralised finance. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find submissions for other topics.
Taking over from LUNA and FTX in the previous bull run, this season's big bad is Grayscale, crashing the market with no survivors at 9am every weekday morning. https://dune.com/hildobby/btc-etfs
Cosmos is a very interesting project. They’ve got great tech. They are the first one to do the modular blockchain that Ethereum is currently working on. Some really good chains have come out of it. TIA, LUNA(it’s not cosmos fault do kwon fucked it up), osmo, etc. I think the coin is under valued. But that’s just my opinion I don’t hold any ATOM
I agree. I used to find it bullish that LUNA(😅), TIA, SEI, INJ, DYM etc were all cosmos projects but they really have no effect on ATOM
I agree and "each halving...less dramatic" is my base case, but I do think there is a non-zero chance last cycle was an outlier with just how large the fraud and subsequent blow up was. We had multiple multi-billion dollar frauds blow up in a relatively short time period (LUNA, FTX, Celsius, etc). I do think that may have muted the cycle, and with an already small sample size to try and build a pattern on, I'm not completely sold on trying to extrapolate from the data we have. I'm not saying "this time is different", but I do think "every time is slightly different", and just wonder how much last cycle's above average overt fraud played a role in the underwhelming price movement.
A year is pretty optimistic considering UST marketcap at LUNA ATH was $19.5B, and it managed to cause a chain reaction that took down multiple large organizations and put us in a nearly 2 year bear. Tether's mcap is almost 6 times as large, and far more prevalent.
It won't affect the average western citizen I agree, but it won't just be trader bros either. My understanding is that Tether pretty popular among the younger and more tech savvy in places with limited or poor financial services, which is a group I'm definitely more sympathetic to. I remember hearing that LUNA was fairly popular in a lot of the same places and lot of people got wiped out from that. I definitely wouldn't keep a bunch of money in Tether, but also can't blame someone in Turkey or Argentina who thinks Tether is less risky than their local currency.
Too bad this wasn't done earlier, it would have stopped the likes of LUNA/UST
There really aren’t any similarities. UST was under-collateralized by LUNA (which had an elastic supply). RAI is over-collateralized by ETH. It’s a CDP that works a lot more like DAI only with elastic redemption rates. Just for the record I’m not shilling RAI here… just explaining how it works. I’m not really sure how well it (or DAI) will hold up long term.
LUNA's problem is that it didn't have the reserves to keep UST stable. The real solution, I think, is to require that each stablecoin be backed by something of equivalent value to the coin it represents. For example, each $1 stable coin could be backed by (using current market prices) 1 USD, 0.000016 BTC, 6.68 DOGE, etc.
Good. It’s crucial we do not introduce regulation that hampers DeFi innovation but we already *know* that algorithmic stablecoins are a flawed mechanism, and if one grows and collapses then we have UST/LUNA to show us what happens.
You're right. I should have just held onto my LUNA - it's bound to make all time highs this cycle.
This dip is basically a gift for those who were not stacking as much as they should have a year ago or more ago. Obviously you should not invest more than you are willing to close (e.g. LUNA). However, this is the time to be buying (or at least setting limit orders). This is not the time to sell.
ADA will pump like every other altcoin during altcoin season, but there are some caveats. 1. There's a high chance it will not do anything before altcoin season. Meanwhile, other coins like Sol might outperforming BTC in that period. 2. When Altcoin season arrives, there's a high chance it will not pump along with the 1st round of altcoins to pump, but rather on the 2nd or 3rd round. Last Bullmarket, ADA only reached 3$ at the end of the cycle and thats a long time to wait when other coins are pumping. 3. ADA dropped very hard during the LUNA & FTX crash. If you bought during that time and held it, keep hodling, but otherwise it's too risky and low reward.
2017-18 I was dabbling only. Hundreds invested turned to thousands, then held as it crashed back to hundreds. 2021-22 made a lot on ETH and LUNA, but cashed out to UST so FML. After losses and taxes I ended 2022 with about what I had at the start of 2021. So never really lost anything and still have a decent portfolio (at least for me) but never realized the crazy gains either. And definitely didn’t make the most of those bulls. Lesson to youngsters: you’re more likely to experience a bull run like this - ie something you maybe gain from probably just waste - than as something that makes you life changing money.
i really do feel for the folks that got in in the last 3-4 months...for anyone that's been around since 2021 this kind of stuff just doesn't have the same impact. there's nothing like a LUNA or FTX plunge to really take the emotions out of the game.
ONE, LUNA, "a litte bit of MATIC" LMAO....
The sad thing about LUNA was the main mechanism for UST was directly analogous to a reasonably well known financial phenomenon called a death bond spiral and what happened was entirely predictable. Somehow that was known but most people never heard about it until it was too late, and I remember all sorts of hype at the time about Terra developing a whole smart contract platform. It wasn't like FTX which was much harder to realise what was going on unless you were an insider. Not sure the lessons have been learned tbh, but we'll see.
To be fair, LUNA wasn't a crash it was an apocalypse
You may want to look into $LUNA if you want to see what a bad crash is.
For real! I entered in the market right before the blood letting of Terra and the crash to 16k. It was quite financially devastating as I was dumb and had 60% in LUNA and leveraged the other 40% away trying to recuperate my losses and failed miserably. Having a giant hole in my pocket while bitcoin was 16k and my confidence smashed against the reefs like a shoddy ship shit out on salvation, I saw the ways of the bitcoin. I am now 90% bitcoin and the 10% in raven out of obstinance and this feeling (no TA here) that it will become an old school cool sometime down the line like dungeons and dragons in the early days compared to nowadays. /ramble
Thoughts on ENA? I have a small amount and seems like an interesting project but I hope it doesn't turn into another LUNA situation where the ridiculously high yield is too good to be true.
If you’re new to crypto, Ripple and XRP must be a bit of a mind fuck. You see Ripple’s name in the news, you see XRP has been a solid top 10 crypto since forever, the partial win vs. the SEC, etc. Then you come here to /cc, and what do you know? There’s a Ripple post right there let’s see what folks are saying And then you get to the comments and well, they look like what you see in these comments. Honestly it doesn’t compare, the level of vitriol towards Ripple and XRP vs. others in this space. Not even a LUNA thread would get this much hate. Makes no sense, no matter which side of the fence you fall on. Personally, I think it’s coordinated FUD. Only because of how consistent and vitriolic that response has been against Ripple and XRP over all these years despite what they’ve done in this space. I wouldn’t take any of that at face value. Search deeper than here for any formed and serious opinion of Ripple and XRP. My two cents.
Cashing out is up to you. If you have doubled your money, and you are satisfied with that, then cash out. If you want to sell the top, then fib extensions can give you an idea where to sell. You can also use marketcap. For example, many people are hopeful that SHIB will be 1 cent soon. For that to happen, it will have to overtake BTC in marketcap. I think you can understand what a ridiculous expectation that is! There is a website called MarketCapOf. You can compare eg, SOL marketcap to ETH. So if SOL were to get to MC of ETH, its price would be around $1000. This can give you an idea where to start selling. Also, the crypto market works in 4 year cycles. The peak of the current cycle is apparent around May next year (or so the top traders say). So you could look to start selling just before then. You could of course, hold everything till you are 60 and then cash out for retirement, but like the top traders keep reminding us "you wont get poor taking profits". So at some point, you should at least cash out your initial investment as there is no guarantee that these "solid projects" will be around forever (look at LUNA).
#DeFi Con-Arguments Below is a DeFi con-argument written by noxtrifle. > DeFi, or decentralized finance, is a method of transacting without the need for an intermediary, and in many ways replaces the traditional banking systems. Instead, a smart contract at the core of the app manages the whole system. However, the lack of regulation in the DeFi space is the root of several issues, such as: > > * **Lack of regulation** > * Like most cryptocurrency-based technologies, DeFi protocols lack comprehensive regulation. This allows doomed (or untruthful) systems like LUNA to thrive while investors are robbed of the money placed in DeFi protocols. > * Regulation is also a crucial factor in letting investors know that a protocol is compliant with legislation, so a [lack of regulation inhibits the potential of DeFi](https://www.insiderintelligence.com/content/lack-of-regulation-hinders-defi-s-disruptive-potential-modern-finance), especially to non-holders. > * **Barriers to entry** > * To enter the DeFi space, especially the most mainstream ones such as Curve and Compound, the ownership of crypto is *necessary* to participate. As such, people who are not tech-savvy or do not believe in crypto would not be able to experience the benefits of DeFi. > * That is, the mainstream adoption of DeFi is contingent on the mainstream adoption of crypto, something that could take decades to accomplish and would, in the process, stifle DeFi innovation due to a lack of users. > * **Risk** > * [CNBC](https://www.cnbc.com/2021/06/18/whats-defi-crypto-based-decentralized-finance-explained.html) highlights that there are 3 main types of risks with decentralized finance protocols. > * Technological Risk — that is, malfunctioning or malicious code could have catastrophic effects on the protocol, such as the [$90m glitch](https://www.cnbc.com/2021/10/01/defi-protocol-compound-mistakenly-gives-away-millions-to-users.html) suffered by Compound after an upgrade. > * Asset Risk — that is, since the cryptocurrencies used as collateral for loans are highly volatile in value, undue price movements would cause the mass liquidations of millions of users. On the other hand, loans from centralized banks remain relatively stable, and the only method of liquidation is defaulting. > * Product Risk — that is, since there is no regulation to protect investors from failed projects and that the value of a DeFi protocol is often determined based on its APY, it is commonplace to see DeFi protocols enticing users with unrealistic APYs and collapsing once they have a significant number of users. This entails the loss of investor funds, and is a similar situation to the [crash LUNA underwent](https://www.forbes.com/sites/billybambrough/2022/08/01/others-could-fail-imf-issues-stark-crypto-warning-after-terra-luna-led-crash-wiped-2-trillion-from-bitcoin-ethereum-and-crypto-market-price/?sh=82ebf157a23d) a few months ago. The IMF also warns of the product risk in decentralised finance. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find submissions for other topics.
> On the flip side there's a lot pressure for increased regulation following LUNA, Celsius & FTX By who? Why would there be pressure for regulation? Its not like anyone blamed the government for FTX and so on lol
On the flip side there's a lot pressure for increased regulation following LUNA & FTX
I was, but I can't remember what it meant. Biggest thing that sticks in my mind was the top 10 darling LUNA going very, very badly.
On 2022 May, there was a lunar eclipse and LUNA crashed to zero. Yesterday, there was a solar eclipse, is SOLANA going to crash as well?
If ENA is a better LUNA can we expect it to rise to 100$ as well?
If you liked LUNA, then yea, you gonna love it.
Anything is better than LUNA at this point.
Everything is better than LUNA, even that shitcoin whatever that is
Why is ENA supposed to be a better LUNA? Anyone smart enough to explain?
When it comes crashing down like LUNA , I won’t feel sorry for them .
Nah, after the whole LUNA fiasco, the Cosmos ecosystem has been affected by the network effects. Former ATOM / SCRT / LUNA / OSMO bag holder here.
How much is it now? I had $200k in 2000 LUNA.
SBF issued unregistered securities (FTT, SRM), engaged in insider trading to inflate their value so as to increase his potential loan collateral. He then took our customer deposits without their knowledge or consent, which his hedge fund gambled and lost on various investments. Once FTXs "assets" were exposed to be merely magic money FTT that he himself created, it started a bank run. Since they gambled away customer funds, their assets werent backed and FTX couldn't pay them out. That man deserves jail. I forgot what exactly Do Kwon did, but LUNA had more to it than the algorithm induced death spiral.
tldr; Terraform Labs and its co-founder, Do Kwon, were found liable for securities fraud in a Manhattan court, nearly two years after the $45 billion collapse of UST and LUNA. The jury, new to crypto, agreed with the SEC that Terraform Labs and Kwon misrepresented the stability of the UST stablecoin and its ability to maintain a $1 peg. The SEC highlighted undisclosed assistance from Jump Crypto and false claims about the use of Terra’s blockchain by the Chai app. Despite the defense arguing that Terra's risks were transparent, the jury quickly found Kwon and Terraform Labs liable for fraud. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
#DeFi Con-Arguments Below is a DeFi con-argument written by noxtrifle. > DeFi, or decentralized finance, is a method of transacting without the need for an intermediary, and in many ways replaces the traditional banking systems. Instead, a smart contract at the core of the app manages the whole system. However, the lack of regulation in the DeFi space is the root of several issues, such as: > > * **Lack of regulation** > * Like most cryptocurrency-based technologies, DeFi protocols lack comprehensive regulation. This allows doomed (or untruthful) systems like LUNA to thrive while investors are robbed of the money placed in DeFi protocols. > * Regulation is also a crucial factor in letting investors know that a protocol is compliant with legislation, so a [lack of regulation inhibits the potential of DeFi](https://www.insiderintelligence.com/content/lack-of-regulation-hinders-defi-s-disruptive-potential-modern-finance), especially to non-holders. > * **Barriers to entry** > * To enter the DeFi space, especially the most mainstream ones such as Curve and Compound, the ownership of crypto is *necessary* to participate. As such, people who are not tech-savvy or do not believe in crypto would not be able to experience the benefits of DeFi. > * That is, the mainstream adoption of DeFi is contingent on the mainstream adoption of crypto, something that could take decades to accomplish and would, in the process, stifle DeFi innovation due to a lack of users. > * **Risk** > * [CNBC](https://www.cnbc.com/2021/06/18/whats-defi-crypto-based-decentralized-finance-explained.html) highlights that there are 3 main types of risks with decentralized finance protocols. > * Technological Risk — that is, malfunctioning or malicious code could have catastrophic effects on the protocol, such as the [$90m glitch](https://www.cnbc.com/2021/10/01/defi-protocol-compound-mistakenly-gives-away-millions-to-users.html) suffered by Compound after an upgrade. > * Asset Risk — that is, since the cryptocurrencies used as collateral for loans are highly volatile in value, undue price movements would cause the mass liquidations of millions of users. On the other hand, loans from centralized banks remain relatively stable, and the only method of liquidation is defaulting. > * Product Risk — that is, since there is no regulation to protect investors from failed projects and that the value of a DeFi protocol is often determined based on its APY, it is commonplace to see DeFi protocols enticing users with unrealistic APYs and collapsing once they have a significant number of users. This entails the loss of investor funds, and is a similar situation to the [crash LUNA underwent](https://www.forbes.com/sites/billybambrough/2022/08/01/others-could-fail-imf-issues-stark-crypto-warning-after-terra-luna-led-crash-wiped-2-trillion-from-bitcoin-ethereum-and-crypto-market-price/?sh=82ebf157a23d) a few months ago. The IMF also warns of the product risk in decentralised finance. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find submissions for other topics.
Like LUNA and UST? Not sure what you're comparing but it aint good.
Can someone tell me if what ethena labs is doing is any different to what LUNA did before its implosion?? Genuinely curious
Some USDC and USDT. I split them between the two. I always think it's best to diversify between two stable coins than putting it all into just one. I didn't have any money in UST at the time, but after seeing what happened with UST I don't want to put everything in one single stable coin, just in case (LUNA and Celsius has made me extra cautious with crypto). As for network, I have some on SOL and some on ETH. Both should be fine really, especially for Stable Coins. I imagine TRON is safe as well, though I'm not going to pretend I know anything about the TRON network. It's been around for a while though and seems stable.
Which airdrop are you talking about? I got burned with LUNA as well and haven't done much regarding crypto after that happened. I bought all my LUNA on Binance, but Binance got shutdown at lesat for my country a while ago.
What percentage were you able to recover due to the airdrop of LUNA?
Honestly, I don't think Crypto is ever going to get "widespread adoption" or "replace FIAT" as some people here may think. As you said, Crypto absolutely is nowhere near as secure as FIAT banking. You lose your keys? You've lost access to your wallet and all your money in it forever. You pretty much have to use off-ramps to withdraw back to FIAT. Even transfering to another wallet has risk. It's volatile, the market is 99% scams and even the "safe" projects such as Celsius, LUNA and trusted exchanges have become shitshows. Not to mention in the eyes of the public crypto is already seen very negatively. It's also not user-friendly in the slightest and needlessly complicated, and people lose money every day due to human error. It's so far away from "widespread adoption" and "replacing FIAT" that I personally think it will never happen. Crypto just has very little really world application unfortunately. Most of what keeps crypto going is hype and money making potential. That's about it really.
tldr; Do Kwon, the former CEO of Terraform Labs, was released from prison in Montenegro after serving a four-month sentence for using forged travel documents. His release comes amid ongoing extradition battles with South Korea and the United States, both of which have filed requests for his extradition related to the collapse of the TerraUSD (UST) and LUNA token. Kwon's passport was confiscated to prevent him from leaving Montenegro, and he was moved to a shelter for foreigners. The Montenegrin Supreme Court has suspended earlier decisions favoring South Korea's extradition request due to procedural errors, putting extradition to either country on hold pending further court deliberations. The outcome of this legal battle remains uncertain as the court weighs the options between South Korea and the U.S. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I remember reading through the similar posts last time around and ending up with bags of LUNA, ONE, LRC, SOL, ATOM, MATIC. All seemed lile reasonably good projects, They all made sense untill they weren't. I am back in green on SOL just recently, after 3 years. All the rest are red.
LUNA wasn't a blantant scam, it was a catastrophe rooted in incompetence
Which exchange doesn't list blatant svam on their exchange? Even Coinbase listed LUNA
Coinbase and all exchanges listed LUNA bro
That's what people said about LUNA...
Don't marry your bags. Profit is profit. Have some sort of plan for exiting the market when the bull run really starts to take off. Most alt coins have had their moment of glory, and some will have their moment of glory this bullrun. Over the years, most have faded away into obscurity, have been hacked and exploited, or were just an elaborate pyramid scheme, for example, TIME, NEM, ONE, LUNA to name a few. If you are investing into an established "Blue chip" like BTC or ETH, then DCA to you hearts content. They are the least likely to fail if you are looking at selling years from now. For all others, don't be afraid to take profits, hell, even for BTC and ETH, profit is profit. You can always DCA back in WHEN the bear market starts again. You also don't have to sell all of it at once. DCA in and DCA out. Set limit orders over various price points on the way up. This should prevent you from being greedy and not realizing profits when you should have (the market always goes up, LOL), otherwise, you will be the exit liquidity, and you will be left holding the bag if you don't have some sort of exit plan. I was one of many left holding the bag during the previous bull run (it feels like a right of passage), and I have been slowly but surely accumulating during the recent bear market. I already have my exit strategy set up. My limit sell orders have been placed at prices that I would be happy to unload some of my current holdings if they were at those price points TODAY. I will DCA out on this run. I will not be left holding the bag. I will most likely DCA back in on the next bear market. Good luck to you, fellow internet stranger, and remember, if all else fails, this is a casino. You should only play with what you can afford to lose.
Thats what peiple said about LUNA...
I forgot how many times I made bad decisions until I read this post.... so many to choose from, LUNA, ICP, ZIL, QRDO, LRC.... This prolly doesn't count, but there was a cool, cutting edge NFT project called Meta Penguin Island- the most I ever "invested" in crypto, bought 3....devs disappeared right after minting🤦♀️ My most painful loss bc, I thought, how can you go wrong with penguins?!
Nobility (NBL), down 76.1% Ecowatt (EWT), down 99.32% And Terra (LUNA), down more than 99.9%.
I staked coins on Crypto.com to get LUNA when it was first offered. Hahahhaa I got .01 Luna for my stake.
LUNA/UST and ONE. Both down so much I'm not even sure if I still have them, i deleted the apps lmao
I no longer hold it, but my worst performer ever was called LUNA, and LUNA can S my D, and K my A. And Do Kwon can GTH!
#DeFi Con-Arguments Below is a DeFi con-argument written by noxtrifle. > DeFi, or decentralized finance, is a method of transacting without the need for an intermediary, and in many ways replaces the traditional banking systems. Instead, a smart contract at the core of the app manages the whole system. However, the lack of regulation in the DeFi space is the root of several issues, such as: > > * **Lack of regulation** > * Like most cryptocurrency-based technologies, DeFi protocols lack comprehensive regulation. This allows doomed (or untruthful) systems like LUNA to thrive while investors are robbed of the money placed in DeFi protocols. > * Regulation is also a crucial factor in letting investors know that a protocol is compliant with legislation, so a [lack of regulation inhibits the potential of DeFi](https://www.insiderintelligence.com/content/lack-of-regulation-hinders-defi-s-disruptive-potential-modern-finance), especially to non-holders. > * **Barriers to entry** > * To enter the DeFi space, especially the most mainstream ones such as Curve and Compound, the ownership of crypto is *necessary* to participate. As such, people who are not tech-savvy or do not believe in crypto would not be able to experience the benefits of DeFi. > * That is, the mainstream adoption of DeFi is contingent on the mainstream adoption of crypto, something that could take decades to accomplish and would, in the process, stifle DeFi innovation due to a lack of users. > * **Risk** > * [CNBC](https://www.cnbc.com/2021/06/18/whats-defi-crypto-based-decentralized-finance-explained.html) highlights that there are 3 main types of risks with decentralized finance protocols. > * Technological Risk — that is, malfunctioning or malicious code could have catastrophic effects on the protocol, such as the [$90m glitch](https://www.cnbc.com/2021/10/01/defi-protocol-compound-mistakenly-gives-away-millions-to-users.html) suffered by Compound after an upgrade. > * Asset Risk — that is, since the cryptocurrencies used as collateral for loans are highly volatile in value, undue price movements would cause the mass liquidations of millions of users. On the other hand, loans from centralized banks remain relatively stable, and the only method of liquidation is defaulting. > * Product Risk — that is, since there is no regulation to protect investors from failed projects and that the value of a DeFi protocol is often determined based on its APY, it is commonplace to see DeFi protocols enticing users with unrealistic APYs and collapsing once they have a significant number of users. This entails the loss of investor funds, and is a similar situation to the [crash LUNA underwent](https://www.forbes.com/sites/billybambrough/2022/08/01/others-could-fail-imf-issues-stark-crypto-warning-after-terra-luna-led-crash-wiped-2-trillion-from-bitcoin-ethereum-and-crypto-market-price/?sh=82ebf157a23d) a few months ago. The IMF also warns of the product risk in decentralised finance. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find submissions for other topics.
2017: Bitconnect. 2021: LUNA 2024: Ethereum
that's not exactly what they say, also it's not always the best advice. you remember LUNA? def not a time you want to be buying bc it's red.
Dude, I wish you all the best with your gambling but Solana as a good trade was at $9, not necessarily now at $200. The shitty tech is completely overvalued, and if you didn't learn anything from LUNA and take shit for granted, nobody can help you. It can go well, but the risk is simply there.
Pointless to try and FUD people when their crypto is going up. People only learn lessons when it crashes (not saying SOL will). People just get blinded by the money they make and don't care about fundamentals. I've had the same discussions with morons over the years about LUNA and HEX and bunch of other things that were doing well for a short term. SOL is hot crypto alt-L1 of this cycle. Fundmentals won't matter until the bear market hits.
Yeah I made a post about this a couple of weeks ago and had some reasonable discussion. The problem with the "get initial money out" is that it's not just one project. You've still got to judge each one on its own merit or it's own timing, that's kind of why I'm asking. Also for me, I made a lot of mistake in the last bull, joining late, buying too much at the top, so I had a lot of ground to make up. I guess what I'm trying to say, is let's say for example, that you were 20k down on previous mistakes, then you buy something for 1k which does multiples, say ten times. Sure, you could pull out your 1k but it wouldn't achieve very much. You could even pull out the entire 10k , great profit on that project but you're still down over all. Wouldn't it make more sense, if we're only just at the start of the run, to hold into it and see if it doubles again to where you're actually in profit over all? I'm not saying that I know that answer, I'm just pointing out that it's not always as simple as, once you pull out your initial investment then it's all good. That's why I was asking when your projects crashed. If it was all at the end of the run, then I might not be able to pick that, but I'm 80% sure that it's not right now. But if projects were crashing or not reaching ATH early in the last bull (without there being an obvious reason like a scam or something like LUNA) , well then that's more reason to get out early.
I got hit with LUNA, Celsius, AND Voyager. Although I guess I can't say any of these were unavoidable. Euphoria is a hell of a drug. I avoided Blockfi crash by pulling my funds out. Too bad I withdrew to Voyager 🙃 I kinda avoided Celsius by removing funds from Earn. They were locked in Custody but I got most of my assets back.
Definitely LUNA. Had about $2k
the infamous LUNA. bought very low sadly i was on a trip and did not get the chance to manage my fund when it went down, fun part is that i went with USTC too for that juicy staking rewards. lost more than half my portfolio in that mess. the googd part is that now i have recover 2x of what i initialy lost
LUNA, FTX, CELSIUS and to a lesser extent MONKEY JPEGs these things killed crypto in the mind of retail. the only thing they would buy now is dogcoins.
4 times I lost money: Going Long on LUNA Shorting PEPE when it was it was up just 50% (later it went up 500+%) Heck, I had losses even on Fiat when I converted all my USDT to EUR just before the Ukraine war Meme coins like safemoon
Terra's UST and LUNA cryptocurrencies lost nearly **$45 billion** (€44 billion) in value within 72 hours in May.
I'll sell my BTC soon and probably the same will happen to me. But you never know what will happen. Someone sold his LUNA and was pleasently surprised later \^\^ who knows. Solana is a ticking time bomb
2021, bought BTC, ADA and LUNA at ATH’s. Haven’t sold any, kept DCA’ing and I’m in the green with two of them. Anyone’s guess on which two.
Had 5 figures worth of LUNA couldn't sell due to new KYC regs......crashed to nothing.
Staking, absolutely. My LUNA was locked in place when the coin collapsed and freeing it would have taken 2 weeks. All I could do was watch as my gains evaporated. On the bright side I was able to sell my UST for around 90 cents on the dollar, which did mitigate the pain a little.
Tried to catch the LUNA falling knife with $200. Now holding 200,000 LUNC worth $36. Also, not buying a whole BTC at $4k when I had my finger on the button.
I bought ETH & ADA in Aug 2021, then started buying BTC and SOL in Sept. Then another 10-12 different altcoins and shitcoins. Got burned with LUNA, SOL, etc., and learned during the bear market. I kept DCAing during 2022 and first half of 2023. Now 92%+ of my portfolio is BTC & ETH and 4 more alts going into this cycle.
LUNA in 2021. The collapse peaked my interest in crypto and I bought into it thinking it would bounce back. Anyways, several investments later all my crypto is up including LUNC so cool I guess.
Bought LUNA in 2021 for 5$, sold for 9. Boy was I stupid.
That time in crypto (2022) was just absolutely brutal. LUNA and UST went to 0, DEXes were dropping like flies, and like 3 of top 10 CEXes evaporated overnight. It’s why Bitcoin fell to $16k. You had to be a complete idiot to have your crypto on an exchange back then
Regarding Celsius, LUNA had just crashed to 0 causing multiple DEXes to go under, so there was fear in the community about insolvency Then someone on Twitter made a thread about Celsius potentially being insolvent. Normally, I’d write this off as FUD but decided to take action. I logged into Celsius to deactivate HODL Mode and withdraw my funds. Had to wait 24-48 hours to withdraw but was able to remove 95-99% of my funds 2 days before they went under
LUNA being up 60% in the last couple weeks speaks volumes about this market ☠️
View in your timezone: [Thursday, 14th March, at 3PM UTC][0] [0]: https://timee.io/20240314T1500?tl=%24LINU%2C%20LUNA%20INU%20%2F%20Double%20CEXshot%20(%2420M%20marketcap!)(Bitmart%20listing!)
It's possible that Binance no longer supports a Luna-BSC bridge after the former coin's original version got wrecked. I'd say your safest bet is using an exchange that supports deposits directly from the LUNA blockchain. Just checked that Binance supports this, and possibly MEXC if you want to avoid KYC.
This doesn't make sense. Their numbers are only valid for certain points in time, and probably no one was buying and selling at those exact times. By the way, the worst investments are those who are at least worthless now. Like Bitconnect or LUNA. -98% is far better than LUNA.
Keeping track of and owing capital gains tax on every single purchase, nothing is user friendly (oops I just lost my entire net worth because of a mistake!), compliance issues from banks/businesses due to the SEC, the list goes on. Also those crazy gains you’re all here for aka volatility is exactly opposite of what people want out of a currency. Most crypto lose 85-90% of value after bull runs. And after LUNA people aren’t going to feel safe in stablecoins either. For the utility tokens, there’s just no practical use case yet to make adoption worthwhile. As a consumer I can’t think of a single project that solves a problem that makes my life any easier
LUNA is completely dead. Solana is a top 5 coin with no other crypto in the top 6-10 remotely close to its market cap.
Investing in PEPE now is probably a good idea if you want to repeat LUNA events.
What's up my dudes? Back after a while. Someone cares to fill me in? Are we still farming moons? What is the latest coin like LUNA? I am looking to lose money, yet again