Who else had Luna?
- Thread starter nuskool89
- Start date
xtsho
Well-Known Member
I had none. But it sure sucks for a bunch of people that were completely wiped out. Go to sleep a millionaire and wake up without enough money to buy a cup of coffee. Crazy.
I mined all my crypto years ago and have never spent a single dime to purchase any. Except for the mining gear and electricity which was well worth the cost at the time.
Pegged to TerraUSD by an algorithm and not backed by any real assets. It's not something I would have invested in. Most of these coin/tokens/platforms are just complex ponzi schemes to begin with. In LUNA's case some savvy players exploited a known weakness and walked away with bags of money while everyone else was left holding the bag. I've watched plenty of cryptocurrencies crash and burn over the years but the scale of this failure is epic.
I have friends that know I've been in crypto for years and have done quite well with it. They hear this or that about NFT this token that. Then they ask me for advice about investing in crypto and the first thing I tell them is that my advice is to keep your money in the bank.
This is going to have a negative effect on the entire crypto ecosystem as many will decide to get out of crypto entirely after seeing the LUNA meltdown. Many shouldn't be investing in such risky investments to begin with.
The value of my crypto holdings has taken a hit like everyone else but since I never actually purchased any with actual money I'm out nothing. Most of my holdings are in BTC, ETH, and LTC and that's the way it's going to stay.
I've thought about trading on the exchanges again but with so much recent volatility it's too easy to get caught with your pants down around your ankles. I don't need the stress.
I mined all my crypto years ago and have never spent a single dime to purchase any. Except for the mining gear and electricity which was well worth the cost at the time.
Pegged to TerraUSD by an algorithm and not backed by any real assets. It's not something I would have invested in. Most of these coin/tokens/platforms are just complex ponzi schemes to begin with. In LUNA's case some savvy players exploited a known weakness and walked away with bags of money while everyone else was left holding the bag. I've watched plenty of cryptocurrencies crash and burn over the years but the scale of this failure is epic.
I have friends that know I've been in crypto for years and have done quite well with it. They hear this or that about NFT this token that. Then they ask me for advice about investing in crypto and the first thing I tell them is that my advice is to keep your money in the bank.
This is going to have a negative effect on the entire crypto ecosystem as many will decide to get out of crypto entirely after seeing the LUNA meltdown. Many shouldn't be investing in such risky investments to begin with.
The value of my crypto holdings has taken a hit like everyone else but since I never actually purchased any with actual money I'm out nothing. Most of my holdings are in BTC, ETH, and LTC and that's the way it's going to stay.
I've thought about trading on the exchanges again but with so much recent volatility it's too easy to get caught with your pants down around your ankles. I don't need the stress.
Last edited:
TrichDaddy
Well-Known Member
Just looked at the Luna chart for Binance and the hilarious thing is that if you'd taken a risk yesterday and bought it right at the bottom, you'd now be at over 10,000% profit, lol. Gotta love crypto.
smolka151
Member
To my great regret, I kept most of my savings in a Luna coin and according to the plots of the scariest movies, I woke up one morning and saw that I had just lost my savings. That was a lesson for me for the rest of my life, after which, I will never keep everything in one coin, I will try to diversify risk. And in the meantime, I am trying to rebuild my portfolio, I try to get free BNB coins in various IDO projects, with the hope of further sale.
xtsho
Well-Known Member
South Korea issues arrest warrant for Do Kwon, Luna drop nearly 50% | TechCrunch
A court in South Korea has issued an arrest warrant for Do Kwon, the founder of Terraform Labs, after the firm's crypto ecosystem lost $40 billion.
techcrunch.com
xtsho
Well-Known Member
South Korean Authorities Arrest Top TerraForm Labs’ (TFL) Exec Amid Ongoing Investigations into Project’s Collapse
South Korea makes its first arrest in connection with Terra ecosystem collapse. South Korean authorities have arrested an executive of TerraForm Labs (TFL), the company behind the collapsed Terra tokens, LUNC and USTC. A Korean local news outlet reported today that Yoo Mo, TFL’s Head of General...
thecryptobasic.com
Interpol seeks arrest of failed crypto-firm boss Do Kwon
Agency asks police forces around the world to seek and detain the South Korean businessman.
www.bbc.com
xtsho
Well-Known Member
Looks like Do Kwon is hiding out in Serbia. They get him in a cage eventually unless he's tortured in killed by Serbian bad guys for the bitcoin he has stashed away.
www.bbc.com
At least they got the FTX CEO Sam Bankman-Fried in handcuffs today. Extradition to the US proceedings already underway
finance.yahoo.com
S Korea says crypto-fugitive Do Kwon is in Serbia
Mr Kwon was charged with fraud and breaches of capital markets law after the implosion of the token.
www.bbc.com
At least they got the FTX CEO Sam Bankman-Fried in handcuffs today. Extradition to the US proceedings already underway
FTX founder Sam Bankman-Fried arrested in Bahamas
Disgraced FTX founder and former CEO Sam Bankman-Fried has been arrested in the Bahamas.
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