Topic: ETH Is A Scam Like Terra Luna And Only Makes Millionaires Rich Who Hold 1000ETH (Read 494 times)

Comparing ETH and Luna seemed ridiculous to me. Ethereum is a blockchain project that has been developed since 2015. We all saw what Luna was, it was managed with high interest rates and a central system, so it didn't take long. I think good money can be made with solid reliable projects such as bitcoin and ethereum, they still have great potential, we will see how many times it will increase in the next halvings.

Yeah and it is not what worth investing , and also I believe that OP is only sharing this thread because of he is promoting this Ponzi compared our precious Ethereum . and I will never choose new blockchain over ETH unless there is an assurance of this being a GEM .

We are going through yet another important drop in the market, and while this is bad at least we are seeing both Terra coins being affected by the drop as well, I just hope that this is enough to make those coins disappear, now I am sorry for those which invested in both Luna projects and they have my sympathy, but that does not mean that I do not think about what is best for the market in general, and without a doubt the best that it could happen to the market is for those coins and a great deal of other scams to disappear as well.

I think he draws the comparison from when ETH also dropped to around $100 and then bound back to $3000-4000 price range. It means he thinks a coin like ETH could drop or be that volatility again, just like LUNA so yeah, that's where his points come from. He does have some merit but tbh, ETH and crypto market has been changed very much since 2017/2018, and very hard for it to hit that low point again. If he knows about the LUNA case, then it has nothing to do with the ETH as LUNA got de peg and lose its valve. Does ETH being pegged to something? Have a mint mechanic to print more ETH to keep the peg rate? NO, of course not so compare those two like a boat to orange. come on.

I'm wondering where does the comparison come from. Eth has been with us for years and I haven't encountered any trouble with it and just like other good coins, it remained on top. It has been through different bear and bull seasons but it stood firm so I don't think it's comparable with Luna who has just existed and turned into nothing later on. Luna and Ethereum are two different coins with different potential and purposes.

Investors that do take a gamble with those projects think that they'll get thousands multiplied with their capital. Luna and Eth are incomparable.
You saw how the attack went with Luna and the devs can no longer put it up. Whilst in Ethereum, it still keeps on going and there's no issue with it except the high fee that sometimes shown but it's much worse earlier this year and last, the fees were incredibly high and this time, it's much lower than it was. And to tell that ETH is a scam, it is the one that's being used to scam people with new projects and smart contracts.

Holding your coins is a good choice, dude, don't lose hope. Ethereum is one of the largest, most popular, and most trusted cryptocurrencies. If your coins halved, that's normal as the crypto market is very volatile. A coin can lose more than 50% of its value overnight. Nothing we can expect in this market, but it is not logical to say that the Ethereum coin is like Tera Luna, the Ethereum coin did not fail, it has a smart team that can make it steadfast.

Maybe he is trying to say that eth is following the path of luna because it will still drop a lot? But he shouldn't speculate like that because he himself invests invest on eth. Instead what he must do is try to be more positive. Eth and luna are both the same, they are cryptos and they are altcoins but they are different in terms of credibility as one if just a scam while the other is legit though there are some people that think eth is a scam coin.

Well, if that is what they think about then no problem but we who believe in eth can just close our ears. We know to ourselves if what is a true scam coin and what is a legit coin. They will only regret it soon once they see the big improvements coming from this coin.

But it is not the question here instead it is about the comparison of Ethereum and Terra Luna and this is a different currency and a different project in which also has different supporters and this is the reality here.
Ethereum is a long run currency now while LUNA is just a scam project that exposed recently.
so there is no a like from these 2 .

I think ethereum will drop back around 1200 to 1350.. from studying the Fibonacci retracement over the recent years.  Ofcourse I can’t gurantee it. But I just think it’s substantially possible.
  I know people have lost a lot more than me, but I’m not a rich man.  I put most of my money in these things and it’s halved.  I’m holding because I have no choice.

Completely agreed on this mate , scam project must not continue to prosper instead we need to eliminate them as they may break another occasion in the future.

Lucky for me that I am not use in supporting pumped currency and project instead I am keeping my funds inside popular and safe coins like the top currencies


 because at least even if they were being dumped surely there is recovery soon .

There is a reason for that, you cannot trust majority of the projects and what they will fulfil. The team will raise money and there is no monitoring system in place to check whether they are working on something they promised and it is always a gamble to invest in any new projects but that is not the case with established ones and even though the profit percentage is low, they can handle them.

If they only want 50x to 100x returns in a fast time, of course they are just new investors who only expect profits without any longer effort to achieve a success.
Taking 10% profit is big enough, even 1% is enough, just need consistency.
The top coins are a good choice, although it is not a complete guarantee, at least we must also believe and do some research, so as not to get caught in a disaster like Luna coins.

If you're smart then I won't be wasting my time to find the next bitcoin ir next ethereum because we never know and it is complete waste of time. You doesn't have to expect 50x or 100x returns all the time, just go for 10% at regular intervals with compounding will make 1000x returns in long term with less risk and proven coins.

Both Terra Luna chains are crashing and to be honest I am glad about this, it is time those coins disappear, this scam affected not only those which were invested in the coin but a lot of people that were smart enough to stay away from it and still had to suffer the consequences, so at least to me the best thing it can happen is for Terra Luna to disappear once and for all, because if it keeps going then this is going to be something that the enemies of bitcoin and cryptocurrencies in general will keep pointing out to try to discredit this market that way.

Ethereum is too different from Terra Luna. Eth has achieved lots of achievements for years and has proven us a lot. Terra Luna only proved to us that it's a scam and only made their investors lose a lot which even caused them depression and anxiety. Ethereum still has a huge potential and if we'll look at its price history, we could notice how it improved. I'm sure that it could reach more achievements in the future.

Since Terra Luna fell very deep in a short time and harmed many investors, I have considered Terra Luna a scam. Even now, Terra Luna's
reputation is very bad and we really shouldn't invest in Terra Luna. So it is very different from Ethereum which has a very solid development
team, even now Ethereum is still growing and is still the best altcoin. Then it is impossible for Ethereum to be a scam like Terra Luna,
therefore even if the price of Ethereum is too high it is still worth buying. Since the price of Ethereum will continue to climb even higher
in the future, meaning that when a bear market situation like now is a good time to buy Ethereum. It would be even better if we invest
long term in Ethereum, so we can make huge profit from Ethereum.

Bro, take your meds, srsly.

Because what you wanted from people is to find a GEM and that is a once in a Million chances  so why risk in so much harder to find when existing coin had already bring us profit and still bringing us profit till now?

Am not sure what is your motive here but I don't think we need to comply on what you are saying here.

Honestly ? had invested i Ethereum over the years and yes it only brings me good return though taking sometime most of the time .

Although Ethereum is more expensive than LUNA, Ethereum is not just for the rich. However, even poor people can invest in Ethereum,
because poor people don't need to buy 1 ETH to invest in Ethereum. So poor people can buy Ethereum according to their financial ability,
maybe the high gas fee will indeed burden poor people who want to use the Ethereum network. But the advantage of Ethereum compared
to LUNA is that Ethereum has a better team, able to make Ethereum continue to grow and become the best altcoin until now.

Then regarding the problem of high gas fees, I believe one day the Ethereum team will fix it. Therefore, Ethereum is a project that has lasted
long enough in the crypto world, in contrast to LUNA, which in my opinion has an unprofessional team, therefore LUNA's performance is very bad
this year and can be said to be a scam project. I felt lucky from the start that I trusted Ethereum more than LUNA, and it was proven that my trust
in Ethereum was not in vain. Because I have managed to make quite a large profit by investing in Ethereum.

terra luna is not growing instead it is dying now and only a small part who is recovering .

Because of the recent issue in which this project is abused and dumped who will invest more on this one?
While ethereum is still working towards growing and now is in the verge of hyping more in the coming halving few years to go.

I would normally agree with you 100% but this is an unusual case because the market is down and many projects in the top 100 are down over 90%, like ICP. These projects are a good buy at these rock bottom prices and offer less risk than new projects launching over the summer.

He was not even saying if ethereum already associated with luna. he was taking ethereum as a comparison to the lune about bought the big marketcap coin in the market was a non sense thing for him. that's why he was blaming the major coin and mention his garbage coin to be the best choice by anyone. We do know that how garbage koinos is. If this is a good token and this already listed on the major exchange site but nothing happened with koinos. I just see more and more koinos shillers are talking without providing a good proof about what should we invest in koinos.

Luna is not expensive as eth, that is why even the poor people are also involved in it but for eth that can be true because eth is expensive as well as its gas fees. Eth is an old coin but in terms of progress? I think it had stopped long time ago. The said eth 2.0 plans for eth have been on going for years and still no real answers if it is still active or when it will exactly end. Terra luna on the other hand is not really that new but it was started 2 year years ago, unfortunately it meet his untimely end.

Luna and eth can be the same because both are altcoins however their faith are different because one is still alive and kicking while the other is already dead.

You've just copied what I said because same point that i start is what your post says also lol. but thanks for the effort in seconding the echo of my post.
Let him feel what he must have because he knows nothing when he invested , and now that he lose everything he wanted to add Ethereum with this scam project .

I think you are in a deep depression because you lost a lot of money while investing with luna, so you carry the name ethereum which has been very shining so far, I think even a very layman doesn't believe that ethereum is a fraud like luna, and I think someone is rich or not must have to hold 1000 ethereum, even one can be rich if only hold a little eth because eth has very high potential.

Yeah, that is what others are saying that eth was a centralized shit scam coin but we cannot deny it that this bullied coin was not worst as other scam shit coins. This coin doesn't dump really low that are close to zero but a lot of scam coins have been dumping like crazy and never recover anymore. Some are worst because they are not in the exchanges anymore.

I don't think rich people can earn a profit with eth but all of us have the chance as long as we know what we are doing. We can use eth for trading and investing. Eth is also useful in smart contract creation projects. If you are a developer you can make use of eth to make more money.

For me Ethereum and Teraluna are two very different coins.
And it's true what you said that if Teraluna is also a new project that is growing while Ethereum has been alive and well for years, I think it's impossible for Ethereum to also be a scam like Teraluna.

What he was pointing is that Ethereum is being used by Millionaires like what they did in LUNA , but what I was thinking here is that Ethereum had been around for how many years now? yet still progressing ?
while Luna had just a new coin yet turn into Scamming lol, they are far different and won't have same faith even in the near future .

The issue with ETH going POS is that miners will no longer keep the network decentralized it will be the top 1% holders pretty much since that is how staking works.

It’s good for the environment but it’s no different than what we have with traditional banking systems. This was not satoshi goal when he created Bitcoin. Basically the largest holders will get most of the staking rewards and most small users won’t be able to stake at all.

I think Shiba is better than Luna, Shiba was created as a pure memecoin and with the hype surrounding it may have helped many people get rich and also many losers. But it is not like Luna, a coin that is considered as potential and outstanding that can compete with other major altcoins like Sol, near...and then everything happened in just 3 days for Luna to collapse, leading to a series of investors losing money. In the game Luna almost no investors get a profit, the only one who is profitable is probably Dokwon. Luna is worse than memecoin.

i don't understand why etherium is associated with luna, aren't the two different and are different networks with different systems even the downfall of luna which was re-released into luna 2.0 which is supported by many exchanges this never happened to etherium

You are right, that no altcoin is worth comparing to ETH from various aspects, except that BNB will be ETH's toughest competitor because both have utility that benefits the community, compared to Terra it will probably be better Shiba because they never fall so will not harm traders and investors.

It's funny because OP, I don't have much thought when mistakes come from myself without correcting them but blaming others. Who is successful? Who failed? And how does it affect us?
Investing and the desire for quick profits is a common sentiment among new entrants, and what I have witnessed in the last part of the market is no different from gambling as the people who make them have the tendency to deceive the minds of new entrants. If you are not alert enough and satisfied with the profits earned, it is easy to understand failure. If you can't buy more BTC or ETH than others, look for other opportunities for yourself. Don't force yourself with the success formulas others have.

IMO, I think this accusation is not new anymore, in fact even before there are some people accusing the Ethereum project as a scam and Ponzi scheme-driven platform. But through the years the platform has survived and developed and turned into one of the most popular cryptocurrencies in the crypto industry next to Bitcoin.

So what I was pointing out here, Is anyone can say and believe, what they want to believe, It's a free world, but just remember that at the end of the day we will be the ones who regret if the results are different from our own expectation, just like what happens in Ethereum.

IMO, I believe Terra Luna and Ethereum has a lot of differences, They are founded and exist at different time, and in the different market situation, so it's inappropriate to compare both because they are not incomparable in many aspects, and thats what I believe    

So you called the bitcoin as a scam when you were seeing someone who make a lot of money from the coin that has become a major coin. It's showing how pathetic you are. The smart people are investing in the promising coin rather than gambling into the new coin like koinos that can disappear anytime. They are smart and that's why they are choosing bitcoin and ethereum instead of investing in the new token that has the same performance anytime.

Why focus just on the fact that you could become a billionaire with it? I mean what if I am just looking for an early retirement? First of all, I believe that bitcoin and eth and similar high stuff could still go x10, which means that there is still time to get rich from them as well.

ETH around 20k is not something unexpected, hell it could even break current bitcoin ATH as well, which is 68k, but in 10-20 years. So that means if I buy eth a bit every month, then keep doing it for 20 years, then we are going to be making a good amount of money and retire early and will be happy. Hence, stop caring about just putting 100 bucks in and make 10 million from it.

i joined in 2017 and in 2018 eth lost a very significant price but i still believe and hold it for a long time to be exact 2021-2022 i sold it 1/2 OF THE ASSET and i don't feel cheated even though anything can happen to altcoins as shown naturally luna but I think ETH is a network that is already strong

Because 999 times out of a 1000 those types of coins that are low value will just disappear.  There is nothing wrong with putting your money in good projects instead of complete gambles.  I would counter and say why would people continue to put there money in something that has nor proven itself not to be a scam yet.  Potential means next to nothing in crypto.

All were actually gambling. It doesn't even matter whether that was a big or small coins. These coins have potentially to crash or pump anytime. If you are asking about why do people still invest in the big marketcap coin and there was also a question about why do people shall invest in the low marketcap coin? Both were actually gambling but remember if you are in a speculation market. Anyone in here was speculating about the future of coin.
Mostly of people are seeing price performance as a parameter to determine whether that's worth to invest or not. It's not something wrong to pick big mcap coin or low mcap coin.

Hey OP, I was in your shoes. I avoided ETH even as a newbie and totally stayed away from it exactly because of the reasons you mentioned:
- premined
- Vitalik centralized
- the fork which should never have happened, poor ETC.

mindrust is absolutely correct however! You can't treat the market like a roulette wheel with memory. I hate to see everywhere this word in altcoin world called potential. The Shibas and the Lunas of the world maybe 1/1000 of a cent doesn't mean they will become 1 cent.

Oh and I changed my mind about ETH.
- premine and fork cannot change but ETH is getting more decentralized and even Vitalik is fading as the leader.

Choosing a project to make a good return is not simple. Because, every project looks legit when we make an overview. Think of Luna, none could've thought it'll face such a down turn in a short. It has grown as high as $120 and now moving around $0.000165, which is a big blow. Here also people are much about luck while choosing a coin for investment. At times it also becomes a gamble.

Shiba Inu millionaire retires at the age of 35 after $8,000 bet

Gambler's fallacy.

Just because an asset went up x1000, don't mean it can't go up another x1000.

Same goes for the alts. Just because an altcoin haven't done x1000, don't mean it will. There are so many early projects that die. How do know to choose the right project? They all promise high returns, good projects etc and yet only a few survive.

Relying in High return with too much value then you should understand that losses might come your way right?

and also there are ways to keep safer and that is to look only in smaller amount of profit and never too greedy to seek for much income like many losers do.

He had been shouting the same problem with Ethereum in His past posts so there is nothing we can do about him.

Because it's safe and proven to be a really good project. With the potential and applications it brings, many investors believe that Ethereum will grow even to 10k USD in the future including me.

You don't like people investing in ETH, so do you have any suggestions that can help us x2000 in the future and be more secure than ETH? And what will you take to ensure that?. If you can answer this question, I will sell all my ETH and invest in the coin you suggested would be better than ETH.

I meant he was thinking if his project called koinos was worthy to be compared with the project like ethereum. Koinos was a brand new blockchain with the copy cat features like what already owned by so many existing blockchain in the platform. He was comparing the shit token with the major coin which doesnot even make sense for me.

I have been hearing ETH being a Shitcoin long time ago , specially from prominent and members here and Bitcoin supporters , But never that i read about this coin as a scam , and also seeing this staying that long ? and still making its way up over the years following Bitcoin?
maybe calling this as a scam is not appropriate and not to be compared to LUNA.

Actually we are not sure how legit ethereum was but still not fair to compare to ponzi projects like Luna

Because that project was a scam project or another money grabber. These days the new ponzi was coming from the small startup like that. The project like koinos was only worth for gambling purpose and not as an investment. Only listed on dex even centralized exchange site never interested to list this garbage token and what a joke to call this even more potential than ethereum?

If you are losing in koinos and you can't get out from there and im sorry for your lose but you must learn from your mistake.  

comparing small startup aka new ponzi like that with the legit project like ethereum. What a joke man

Perhaps that project is still cheap and the chances to go 2000x is still possible that's why they are still buying the hype.

As for the early projects that can give that huge returns, we will never know, I think there is also some element of luck in investing in a new project and getting big profits down the line.

However, I will disagree to even compare ETH to Terra Luna, lol, they shouldn't be in one sentence.

Because it is each of us desire and decisions mate , many of us wants safer investment than those new projects that will starts building their coin .

If there is something  you want to push then let us know to understand and check if it is possible to invest with .

anyway , I still support ETH though with small amount only compared to my Bitcoin and other altcoins holding.

I remember when ETH launched it was pumped heavily in Summer of 2015 or so then it started to die off. I remember it hit a low price of $1 and was deemed dead pretty much.

At that time many from the ICO presale sold because they assumed it was a failed project and it reversed and hasn’t been any lower than that.

Either way I wonder how many people besides the ETH devs still hold those presale coins? Probably not many.
Most sold when it launched on the main net back in 2015.

Well, everything will be said as a "scam" if someone is affected by the current happenings.

I know that with Luna, there was a vicious attacker to the network that used $600m to make the network unstable and then make the Bitcoin reserves of Terra Luna be liquidated to make the price stable. And then another attack then it just can't be handled anymore by Luna and it continues like that.

So you're basically saying find something cheap then buy it even if the coins are 99% diluted with garbage projects?

Because they believe that if a project that has gone up x2000 can be better and more successful than the current new project, sometimes there will be no results at all.
But on the other hand there is a big change with the current project system but it doesn't apply to all projects.

Why do people rather go in projects already up x2000 instead of going in early projects that will still go x2000?

ETH was great when I bought it in the PRESALE from the PREMINE at $0.25 back in 2015. I even kept buying a few 100s of Ethereum at $10 in 2017 since it was a good deal back then when everything was still cheap. So do I tell it to boast? Nope. I tell you this because it gives you the secret on how to be successful in Crypto like Brock Pierce (who bought way more than I of ETH and became a billionaire)  but we are not too late. You can use this same simple trick still today. Sold the most at around $4000 which feels like a good deal since now ETH is only $2000. Could have waited a bit and got lucky selling at $4800 but you never can get the top or bottom exactly right so it feels like a great deal to me either way.

I put all my ETH winnings (besides some Cash for living and my small beach home) into Bitcoin since Bitcoin is the future with so many paths like global reserve currency some day, protection from USD Inflation and possibly new currencies issued by governments, as countries as germany issued several times in the last 100 years because the old currencies became worthless (and I think that its likely happening to the USD sooner or later too) and ETH is just a centralized project by 1 guy to get rich and make everyone rich who bought it at $0.25 or $10. Of course thats an achievement. Vitalik did a great job but now he is finished and at his peak and its time to make room for the new and the projects that will still go x10000.
 
Unless you love financial struggle, then please stop reading and go buy top50 crypto projects!

What can we learn from crypto that 99% of people in crypto still have not understood who go in Luna, expensive ETH and other top100 shitcoins with scam fees and ICO scams and premine and wall street in them already? Trust a project BEFORE the masses go in. BEFORE Wall Street goes in. When its not SAFE. Have faith and trust a GOOD project. So if you did buy ETH at $0.25 that was a great deal. If you bought Bitcoin at $1 that was a great deal. But ETH will not go x10000 again right? So even if you put only $5000 into ETH now what do you think it will be worth some day? Maybe if you are lucky $10k or $15k? With the risk it falling back to under $100 as in 2017/2018 and then eventually going bankrupt like Luna.
 
So what you must learn from history of Crypto and Bitcoin is you only get financial independance in Crypto by buying good projects early when they are still cheap. Before McAffee and all the others are in them. Before Youtube influencers shill them. Before Kevin oLeary and Anthony Scaramucci buy them. When its uncertain and insecure like those who put $50k into Bitcoin when it was $100. It was extremely risky back then to do that. But it was the right and the best decision you could ever make. So what to do now?
 
Now I watch the "new tokens" on CMC and Coingecko daily since 8 years for good projects but frankly 99,99% is just memetokens and other garbage scams especially in the last 1-2 years. I did find some really good projects that I went in early and made x50, x100 and even more a few times but only recently I found the currently best project in whole of crypto....
 
So today I want to introduce a great project that is still only $0.40 but will be $100, maybe even $500 some day, its got one of the best Blockchain Dev Teams in the world who have been working together as a team since 6 years which is rare in crypto. Their first project was Steem/Steemit which was bought by Justin of Tron in a hostile way. Since then they thought about what they can give back to Crypto. How they can make crypto better. More decentralized. So a villain as Justin cannot do something as this again. How they can bring more decentralization to Crypto with their PROOF OF BURN Blockchain.

Proof of Burn is like Proof of Stake but its better since it includes the decentralization from Proof of Work without the insane energy costs. So its ESG ready and ready for the future while having the highest decentralization possible since everyone can mine it. The project is still only valued at $40m market cap even tho its one of the best blockchain teams in Crypto.. Their blockchain can do more than all other top100 blockchains and there is zero fees.

Even if we continue to have a bear market this will go from currently $40m market cap to $400m within the next 12 months.
 
Their developers have Videos on Youtube explaining their project and introducing themselves, so you can verify they are a real team and know what they are talking about, and you can see they are not scammers like Luna and so many other projects. Their devs have not sold off huge amounts of coins and there was no premine or presale so its fully decentralized and fair.
 
As you can see on their Github they have been working daily on their project.
 
Their PR guy - who also has been with them since 6 years used to be a lawyer but now he only works on this project and tweets and writes pretty good articles on their project and the future and he has been featured on Hackernoon and other Crypto publications. They also have visited crypto conferences.
 
A community is building and they recently developed first open source wallets and a first open source DEX with their proof of burn blockchain that essentially is in competition with Bitcoin itself and with ETH since its more decentralized, zero fees and the best platforms for devs to develop on. This will go x10, x100, x1000 within the next 5 years. Why would anyone rather buy ETH that cant even go x5 most likely?

https://www.youtube.com/c/KoinosBlockchain/videos
https://twitter.com/koinosnetwork
https://coinmarketcap.com/currencies/koinos/
https://www.coingecko.com/en/coins/koinos
https://app.uniswap.org/#/swap?inputCurrency=0x66d28cb58487a7609877550e1a34691810a6b9fc&outputCurrency=ETH&chain=mainnet