This is quite different. This is the developer's fault. Remember if luna blockchain already halted for two times to prevent the minting but why they have not done it during the hyper minting by the contract? I do agree if people can also afford the lose when they are betting into the risky investment but it's not all about investor's fault. You must also see even someone was doing nothing was loosing their life too. The LFG funds are not going anywhere.
The problem was on the developers and investors would always become the victim. That proves that luna was centralized blockchain caused by it can be halted to prevent the contract to mint more tokens.
Topic: Are you following very basic crypto rules? - page 2. (Read 296 times)
Absolutely I agree. If you do not have the mentality to trade in the world's toughest stock market, the result of not trading in these markets can be sad. Even if you trust most of your money in bitcoin and some altcoins, don't keep them all here. I totally agree with the second part you said, not all eggs are in the same basket. Even if the coin you will hold is stable coin, it is useful to keep it in different exchanges in your partition. For example, you can distribute your stable coins as usdt, busd and dai.
Tbh luna was just another pump and dump shitcoin. What unique feature luna had over eth for example? I can't think of any. Then why did it exist in the first place? There are thousands of alts around and only a few of them are unique and decentralized. Monero for example is still the best anonymous coin and every other competitor is just a failure.
Explain how was it p&d shitcoin? Don't count current dump which is solely due to to ust. Please explain luna's unique features which bitcoin and ethereum lack? If you can't explain then it means it was a shitcoin. If it was just a shitcoin it wouldn't do much harm. It was even worse than a shitcoin. It participated in a major ponzi scheme. There are lots of shitcoins that rise and fall but none of them got that big before they fall. Years ago bitconnect did the same thing but it was much much smaller than LUNA.
1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.
Do not invest in pump and dump shit coins2. Don't put your eggs in one basket.
don't invest in a project where one of the teams has had problems in the past. and don't try to buy coins/tokens that fall very deep. this rule is very important to avoid shit project.
This is very sad to hear that some people committed suicide because of Luna crash I can understand their frustration how it feels when our hard working money vanished suddenly, it really gives shock anyway it's really surprising to see that people are investing their whole amount of money in crypto currencies even know the risk factors of this industry, people must avoid to being greedy in crypto space and consider to move carefully with responsible decisions.
1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.
Do not invest in pump and dump shit coins2. Don't put your eggs in one basket.
How exactly? Ust was reason for luna's downfall. On its own Luna was/is thriving dapp platform.
Tbh luna was just another pump and dump shitcoin. What unique feature luna had over eth for example? I can't think of any. Then why did it exist in the first place? There are thousands of alts around and only a few of them are unique and decentralized. Monero for example is still the best anonymous coin and every other competitor is just a failure.
Explain how was it p&d shitcoin? Don't count current dump which is solely due to to ust.
1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.
Do not invest in pump and dump shit coins2. Don't put your eggs in one basket.
How exactly? Ust was reason for luna's downfall. On its own Luna was/is thriving dapp platform.
Tbh luna was just another pump and dump shitcoin. What unique feature luna had over eth for example? I can't think of any. Then why did it exist in the first place? There are thousands of alts around and only a few of them are unique and decentralized. Monero for example is still the best anonymous coin and every other competitor is just a failure.
I guess no one saw it coming, specially from Luna CEO and founder. But as it fall from grace, now we understand that it is shitcoins anyway and maybe the intention from the very beginning is for pure pump and dump. So no, they can't be compare to ETH and all any other competition right now is just a copy cat version. So we should really be putting money that we can afford to lose as the risk is high for this kind of projects.
It's pretty clear that our crypto assets will be safe if we follow these basic rules, but In theory this seems like an easy way to make money from cryptocurrencies but application-wise there are some potential pitfalls to keep in mind before jumping from exchange to exchange and their consequences. Simply Luna becomes a very important lesson to remember for everyone because we are all in crypto because we want to make a net profit on investing
Even they didn't follow those basic rules you mentioned above, committing suicide is the most worst action that everyone must avoid it. Life is full of trial and error, if you never wanted an error in your entire life, there's no one never doing anything wrong and they're learn from that to become better. Though they invest all of their money in LUNA, at least they can still survive even they need become a beggar. It was a tough lesson and you will become stronger after making tough decision.
1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.
Do not invest in pump and dump shit coins2. Don't put your eggs in one basket.
How exactly? Ust was reason for luna's downfall. On its own Luna was/is thriving dapp platform.
Tbh luna was just another pump and dump shitcoin. What unique feature luna had over eth for example? I can't think of any. Then why did it exist in the first place? There are thousands of alts around and only a few of them are unique and decentralized. Monero for example is still the best anonymous coin and every other competitor is just a failure.
I agree, this might sound like basic rules, but still very much effective and everyone can learn from it.
And now that we have the Terra debacle, we need to remind again about the dangers of not diversifying your portfolio here. Just imagine putting everything in Terra because so 'believe' in this project and suddenly it almost went to 0 and trading has been halted to previous further damages to investors/traders.
And now that we have the Terra debacle, we need to remind again about the dangers of not diversifying your portfolio here. Just imagine putting everything in Terra because so 'believe' in this project and suddenly it almost went to 0 and trading has been halted to previous further damages to investors/traders.
These are golden rules in crypto and it's better to consider them before making any moves because these decisions can not be undone once you realized you choose the wrong coins to invest your money with. Therefore, it's important not to rush decisions especially when money involves. Today, the world is in crisis and it is better for us not to spoil our savings and choose the right way to invest them so that they will grow in the future. Nowadays, if we have a spare budget to invest in, it's better to put it in the top 10 coins in the market if we want to increase our chances to earn and saving our money from scammers.
1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.
Do not invest in pump and dump shit coins2. Don't put your eggs in one basket.
How exactly? Ust was reason for luna's downfall. On its own Luna was/is thriving dapp platform.
The current hot topic is Luna. It's very sad that a lot of investors bagger due to Luna drama. The more sad thing is some people committed to suicide. Even in my country, it has happened. I will say think kind of situation occurs due to not following two very basic crypto rules. I know everyone knows these rules, but want to share again and remind you what would happen if you don't follow these rules.
1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.
It's pretty simple rules, I don't think here needs any detailed explanation at all. We should invest only what we can afford the loss. And shouldn't invest in one coin all of your savings. When you invest multiple coins that won't scam you at the same time. So follow the very basic crypto rules and don't commit suicide.
1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.
It's pretty simple rules, I don't think here needs any detailed explanation at all. We should invest only what we can afford the loss. And shouldn't invest in one coin all of your savings. When you invest multiple coins that won't scam you at the same time. So follow the very basic crypto rules and don't commit suicide.
I almost never use money from real life, only money from bounties or trading, but losing large sums of money is painful. I still use the two rules, don't use money that you're not ready to lose and don't go all-in on one project.
1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.
Do not invest in pump and dump shit coins2. Don't put your eggs in one basket.
And don't try to take part in 'recovery programs' for a dead shitcoin. This is also pump and dump with extra steps. A lot of shitcoins have been doing this thing for years now, and they mask this activity with 'market recovery' to do another round of pump and dump to unknowing people who are gullible enough to fall for the trap.
Holding you money in a decentralized coin like Bitcoin is the safe haven as far as cryptocurrency is concern, I hold 100% of my entire portfolio in Bitcoin and each time I get an altcoin in my portfolio I never feel comfortable until I get it converted to Bitcoin.
This give me peach of mind and safe my funds from the clutches of centralized actors who can twist the price of those altcoins even the stable coins just like what we witnessed with Luna which has become one of the biggest cryptocurrency crash for a long time in history.
This give me peach of mind and safe my funds from the clutches of centralized actors who can twist the price of those altcoins even the stable coins just like what we witnessed with Luna which has become one of the biggest cryptocurrency crash for a long time in history.
Another rule, don't invest when you only hear good stories from someone. A small example (the part I quoted).
Because after all one's greed can overpower their own reasonable judgment. Sometimes the price of crypto moves beyond expectations and some lucky people get in before it starts to create confidence and influence as if they were reassuring others that it will continue.
Because after all one's greed can overpower their own reasonable judgment. Sometimes the price of crypto moves beyond expectations and some lucky people get in before it starts to create confidence and influence as if they were reassuring others that it will continue.
The current hot topic is Luna. It's very sad that a lot of investors bagger due to Luna drama. The more sad thing is some people committed to suicide. Even in my country, it has happened. I will say think kind of situation occurs due to not following two very basic crypto rules. I know everyone knows these rules, but want to share again and remind you what would happen if you don't follow these rules.
1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.
It's pretty simple rules, I don't think here needs any detailed explanation at all. We should invest only what we can afford the loss. And shouldn't invest in one coin all of your savings. When you invest multiple coins that won't scam you at the same time. So follow the very basic crypto rules and don't commit suicide.
1. Don't invest in crypto if you can't afford the loss.
2. Don't put your eggs in one basket.
It's pretty simple rules, I don't think here needs any detailed explanation at all. We should invest only what we can afford the loss. And shouldn't invest in one coin all of your savings. When you invest multiple coins that won't scam you at the same time. So follow the very basic crypto rules and don't commit suicide.
For us who experience losses from the past yes we can say that we already follow this rules because we already know the end point of taking so much risk for investing on single particular project.
But for newbie I believe not because most of them easily got hype or get FOMO for certain project especially when they see something huge money offer to them if they participate on what their friends or people told them.
To be serious about this, nobody expected Luna to be a pump and dump coin. I hope people should be wiser by this time not to invest on altcoins unless they see it as gambling and be treated as gambling.
This should be a great example that no crypto except bitcoin is safe. If anyone really wants to be in crypto then be in bitcoin, as simple as it is. Just imagine this, if there were no bitcoin then would there be any crypto. No. So why play with fake digits when you have the real one for you. It's not that you have to have a whole bitcoin.You want to buy $10 worth of crypto? Buy bitcoin.
I don’t think many have been following the rules because many of this newbies has been guilt of crimes like borrowing money to invest in Crypto-currency, virtually almost every newbie thinks crypto-currency is a get rich scheme that why they are Willi to even borrow to get into it, that’s where the dip comes in, with drops in coin like Luna this has had many questioning the truth in the fact that crypto-currency can make anyone rich, so it about that time every newbies follow the basic rules of not their experience here would have terrible consequences.
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