Luna (now LUNC) was a layer 1 protocol that was overhyped by venture capitals, Binance and top executives were among people who were all bullish about it, they all invested millions into it, so much confidence and everyone had FOMO and did well, the protocol intention wasn't designed to fail though they were signs and warnings from different community that the Ponzi scheme soon will fall but did anyone here see that? If you tell them to leave such projects, they will see you as an enemy because they saw it as a good project(a reference to my comment) until it failed.
For me that you contradicting yourself since you have said it was a good coin, but now you're said it's bad coin. I'm not really sure, probably it's just a wrong explanation from you. Anyone who created new coins will always act and promise they're the best coin since they're offering many features or quick rich program (staking or ponzi), but they will ended as a scam coin in the future.
Just FYI I never bought ETH since I think Proof Of Stake coin is sound like a ponzi.
I know what I stated and stand by it,
'it was' was what I said in my statement, indicating past tense, and I'm not attempting to negate anything. People's investment choices are arbitrary, especially those who missed bitcoin in its early stages, they will always buy and hype anything that would offer them that state of bitcoin, check Twitter and Youtube, all bitcoin maxis have altcoins, what do you think they mean when they say diversify your portfolio? Hmmm. If not for the disaster, if Luna was able to maintain the $80 price, nobody will complain even if you warn them about that protocol, DAI did but non of the influencers retweeted or make videos about it.
Anyone who bought Ethereum under $10 will call it a bullish and good project and those who FOMO at $4k will called it bad, the same thing applied to Luna, they were all greedy when they were offered 20% APY on staking, and that's foolish.
A new Luna was launched, to show that people prefer nonsense to bitcoin still went back and bought it, they are currently holding, what will you call that? people will be willing to risk and justify the good side of what you are not seeing. Please don't mention the meme.