No such thing as Too Big to Fail | Bitcointalksearch.org

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Quote from: _act_ on June 02, 2022, 02:28:39 AM

Quote from: Takyeon on May 31, 2022, 11:41:56 AM

it's the same risk involve with crypto generally including BTC but BTC is just way safer, I have seen people losing 6 figures to Luna and some Defi projects, first of all try to understand what you are going into, many don't know how risky crypto space is, take risks with what you are ready to throw away.

The risk of investing in cryptocurrencies are not the same at all, bitcoin is the safest, Altcoins like litecoin and ethereum are better than many altcoins. There are some altcoins that should be avoided. What happened to luna is just like a ponzi to me, many altcoins are existing successfully but not that they are not risky. But you are not wrong, it is good to take risk with what you can afford to lose.

Bitcoin is much more safer and the best because it has been the only currencies that even two countries has adopted as a legal tender and also getting more recognized in the world than altcoins that has no utility and bitcoin is more decentralized.

Taking risk is good but you must remember that not all the time taking risk you will be successful someday cause sometimes even you are taking high risk then end the end of the day you still loss your money so it's a good practice that you must take a risk what can you afford to loss because like I said not everytime you will be successful.
Bitcoin is very known and the father of all crypto currencies so it safer than other

dataispower

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Quote from: Zilon on June 02, 2022, 06:41:20 PM

Comparing Altcoin crash to bitcoin is somewhat incomparable. LUNA crashed to -100% with no support to hold the price below any major support zone. Of a truth no project is too big to fail but on the part of BTC it looks a bit more difficult to happen that is the chances are slim. It is best to put all eggs in a single basket(Bitcoin) if the investor is lazy about doing their research or diversify their portfolio and do a steady research. Having all coin in a single altcoin project is unwise. Crypto is working but it requires your research

bagging all your eggs in one basket is bad and it's something somebody will follow as a point of idea, is truth that bitcoin resurrect than altcoins and altcoins don't have such quality, that is untrue because is not all altcoins will be underrates or will die off like others. Yes bitcoin has potential and can fail through out year and still regain it potential within the next year. When we ask of results of profit during investment altcoins have the bigger profit to give and especially the one that have good market promoters and functions

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

Nothing is too big to fail in crypto world, Terra Luna is a big example that the safety of your money isn't guaranteed even if you invest in top altcoins out there, it's the same risk involve with crypto generally including BTC but BTC is just way safer, I have seen people losing 6 figures to Luna and some Defi projects, first of all try to understand what you are going into, many don't know how risky crypto space is, take risks with what you are ready to throw away.

In one of my posts, I asked forum members to share an unpopular opinion they hold about Bitcoin. One of the comments that caught my attention was by NeuroticFish. It is in line with your thought:

Quote from: NeuroticFish on June 02, 2022, 10:14:15 AM

In the same way Bitcoin can eventually reach $1M, it can also eventually fall to 0.

The truth is nothing is promised. Most of us believe in bitcoin's potential yet we know that there is still some uncertainty. Personally, I feel that there is still a 5% chance that something bigger than Bitcoin may pop up in the distant future.

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

it's the same risk involve with crypto generally including BTC but BTC is just way safer

For me, the major reason Bitcoin is where it's today is because of the community. It's not even about its size. Bitcoin has got well structured and committed community. Nothing much else Bitcoin is doing that other cryptos aren't doing or even doing better and easier. Come to even think of it, there's no smart contract to Bitcoin like Eth and others have. It's a PoW and doesn't afford hodlers much benefit of earning more quantity on staking apart from price appreciation, unlike PoS where staking is allowed. Nevertheless, I still think it will be unimaginable for Bitcoin to fail. If it does, that will be the death of the crypto industry. The confidence reposed in this industry is garnered from Bitcoin. If Bitcoin collapses, the entire crypto market will disappear.

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Quote from: Despairo on June 03, 2022, 03:02:08 AM

Quote from: Cookdata on June 03, 2022, 01:32:37 AM

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. Embarrassed

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Quote from: Cookdata on June 03, 2022, 01:32:37 AM

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.

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Quote from: pooya87 on June 02, 2022, 11:51:45 PM

Quote from: Cookdata on June 02, 2022, 07:16:07 PM

Luna was a good coin and good investment,

I'm not sure if this is a typo or you are just crazy

A centralized shitcoin with nothing to offer is never a good coin or a good investment. The failure of such projects are practically guaranteed from the start, we just can't predict when they are going to fail. If you check the list of top 20 altcoins, they too are like ticking time bombs waiting to die just like Luna.

Pooya, this is unlike you, why the insult! Huh

I'm not a fan of shitcoins and I don't have any, they look tempting but I fancy none.
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.
Many people here have Ether, however the fact that so many of them regard Ether as a good/investment coin still irritates me because of its gas fee, I don't care about their merge, we have already had enough proof of stakes that aren't up to standard(low throughput), some are failing every day (Solana). If you mentioned or say that in their community, you become an enemy and likely to be banned.
Whoever believes altcoins are ideal for their portfolio is free to do so, but whatever happens, is their responsibility.

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Quote from: Cookdata on June 02, 2022, 07:16:07 PM

Luna was a good coin and good investment,

I'm not sure if this is a typo or you are just crazy

A centralized shitcoin with nothing to offer is never a good coin or a good investment. The failure of such projects are practically guaranteed from the start, we just can't predict when they are going to fail. If you check the list of top 20 altcoins, they too are like ticking time bombs waiting to die just like Luna.

Cookdata

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I remember seeing caution in most of the exchange especially when it is your first time in the their platform, they will give you some sorts of warning on how volatile cryptocurrency are and know what you are buying. Crypto is very volatile and anything can happen, the way they pump so fast is the way they do when it crashes but most crashes happens to shitcoins, not really bitcoin.
Luna was a good coin and good investment, it just that many were caught in hot pot that they never expected to dry there pocket, it was so painful that many of them were already on profits but chose to hold for the long vision they see in the project just like they do in most other projects but it went down so badly that even the venture capitals and angel investors were hit very hard.

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Comparing Altcoin crash to bitcoin is somewhat incomparable. LUNA crashed to -100% with no support to hold the price below any major support zone. Of a truth no project is too big to fail but on the part of BTC it looks a bit more difficult to happen that is the chances are slim. It is best to put all eggs in a single basket(Bitcoin) if the investor is lazy about doing their research or diversify their portfolio and do a steady research. Having all coin in a single altcoin project is unwise. Crypto is working but it requires your research

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Those who are new to this market won't understand why Bitcoin is always the top choice coin and altcoins is just a copy. But since most altcoins have some features great that Bitcoin doesn't have that's why most investors would choose those coins but unfortunately, some manipulators and early investors will use their power to gain profit and we can't blame them either because that's the way how market works. One will win and gain profit while the other will suffer in losses.

So if you want to invest your big money just put it on Bitcoin but not really advisable to newbies if they don't know how the market works yet.

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Quote from: Darker45 on June 01, 2022, 08:21:37 PM

That's true. Indeed, there's no such thing as too big to fail. Even Bitcoin might one day lose its community. Bitcoin investment is still highly risky. But if we talk of the whole wide crypto market, it is undeniable that the least risk is with Bitcoin.

And besides, we never consider Bitcoin as a safe haven.
We can't just underestimate the volatility of the market and the risk, we are not sure nor have the assurance that everything will still be fine in the future. It is too hard to think but rather to be prepared for anything that will happen someday than being surprised by the actual scenario.

Quote

However, is Terra too big? I don't think so. It's a new player. It's not that established yet. It has yet to build a solid track record. In the altcoin world, Litecoin is a lot more solid than Terra even before it fell.

Terra is shitcoin, pertaining to having a good record just to divert the attention of the community and to gain trust. We haven't seen this as it was greatly hidden and it surprises us all. Kinda be such a thing possible to happen even in Bitcoin.

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I hope the fall of Luna doesn’t encourage the myth that bitcoin is a scam. Bitcoin always seem to be in the center of it all. What happened to Luna was a manipulation of parties who had a lot to gain from the whole business. It’s unfortunate that altcoins cannot be trusted in the long run, the best you can do for yourself is to take your profits when you can and buy bitcoin.

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

Nothing is too big to fail in crypto world, Terra Luna is a big example that the safety of your money isn't guaranteed even if you invest in top altcoins out there, it's the same risk involve with crypto generally including BTC but BTC is just way safer, I have seen people losing 6 figures to Luna and some Defi projects, first of all try to understand what you are going into, many don't know how risky crypto space is, take risks with what you are ready to throw away.

Yes, nothing is too big to experience a downtrend in the crypto market because the market is all volatile in nature but the issue about Terra Luna is something every cryptocurrency investor should know it's going to happen. Why do I say that?
I believe the crypto investor is making the same mistake because you just invested in the Terra Luna coin without reading the concept of the project.

I don't know maybe most people invested in the project because it claimed to be backed with BTC but the project concept was "price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements. " and it was said to "use of fiat-pegged stablecoins". Whereas no crypto is stable in price.
Which they are just creating another version of the mistake made by the Central Bank. I don't know if they have learned from their previous mistake but people to stop investing in hype base projects especially those that the influencer claimed to have invested real big money without doing their own research.

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Quote from: Darker45 on June 01, 2022, 08:21:37 PM

Even Bitcoin might one day lose its community. Bitcoin investment is still highly risky. But if we talk of the whole wide crypto market, it is undeniable that the least risk is with Bitcoin.

I have serious doubts that bitcoin will one day lose its community. Even in the worst case scenario, there will be those who, under no circumstances, will not sell their BTC. Faith in bitcoin has already grown so much that, in my opinion, this is impossible. Just as important is the fact that not all investors evaluate bitcoin as a speculative tool for enrichment. Undoubtedly, these investors at the first incomprehensible situation will sell everything at once. But there are holders of a completely different kind, for whom bitcoin is something more than just a tool for increasing money. They will keep to the last, perhaps longer.

Quote from: Darker45 on June 01, 2022, 08:21:37 PM

That's true. Indeed, there's no such thing as too big to fail.

Agree. But all these big projects are worth nothing next to bitcoin in fact. Even taken together. And because it all so fragile and unreliable to invest in them with double caution. Especially in new and hype ones.

_act_

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

it's the same risk involve with crypto generally including BTC but BTC is just way safer, I have seen people losing 6 figures to Luna and some Defi projects, first of all try to understand what you are going into, many don't know how risky crypto space is, take risks with what you are ready to throw away.

The risk of investing in cryptocurrencies are not the same at all, bitcoin is the safest, Altcoins like litecoin and ethereum are better than many altcoins. There are some altcoins that should be avoided. What happened to luna is just like a ponzi to me, many altcoins are existing successfully but not that they are not risky. But you are not wrong, it is good to take risk with what you can afford to lose.

Bitcoin is much more safer and the best because it has been the only currencies that even two countries has adopted as a legal tender and also getting more recognized in the world than altcoins that has no utility and bitcoin is more decentralized.

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Quote from: TravelMug on June 01, 2022, 07:57:40 PM

Quote from: Takyeon on May 31, 2022, 11:41:56 AM

Nothing is too big to fail in crypto world, Terra Luna is a big example that the safety of your money isn't guaranteed even if you invest in top altcoins out there, it's the same risk involve with crypto generally including BTC but BTC is just way safer, I have seen people losing 6 figures to Luna and some Defi projects, first of all try to understand what you are going into, many don't know how risky crypto space is, take risks with what you are ready to throw away.

But if we talk about Bitcoin, the prime mover, then we have some exceptions to this rule. Terra Luna fall because of the people behind it, they didn't know or at least didn't expect this and don't have any fall back until it's too late. Of course there is risk, so everyone should know how to mitigate them at least and not invest all your money into crypto and hope that one day you will become a millionaire. Maybe ETH is also one project that you can add to the list of being a 'safe' investment.

Terra falls because of the people behind it you say, who are those behind other crypto projects? Ghost? gods? What happened to Terra can be categorised as a fatal mistake but it can happen to other projects too, we are all humans and mistakes can be born at any time.

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That's true. Indeed, there's no such thing as too big to fail. Even Bitcoin might one day lose its community. Bitcoin investment is still highly risky. But if we talk of the whole wide crypto market, it is undeniable that the least risk is with Bitcoin.

However, is Terra too big? I don't think so. It's a new player. It's not that established yet. It has yet to build a solid track record. In the altcoin world, Litecoin is a lot more solid than Terra even before it fell.

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

Nothing is too big to fail in crypto world, Terra Luna is a big example that the safety of your money isn't guaranteed even if you invest in top altcoins out there, it's the same risk involve with crypto generally including BTC but BTC is just way safer, I have seen people losing 6 figures to Luna and some Defi projects, first of all try to understand what you are going into, many don't know how risky crypto space is, take risks with what you are ready to throw away.

But if we talk about Bitcoin, the prime mover, then we have some exceptions to this rule. Terra Luna fall because of the people behind it, they didn't know or at least didn't expect this and don't have any fall back until it's too late. Of course there is risk, so everyone should know how to mitigate them at least and not invest all your money into crypto and hope that one day you will become a millionaire. Maybe ETH is also one project that you can add to the list of being a 'safe' investment.

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

Nothing is too big to fail in crypto world, Terra Luna is a big example that the safety of your money isn't guaranteed even if you invest in top altcoins out there, it's the same risk involve with crypto generally including BTC but BTC is just way safer, I have seen people losing 6 figures to Luna and some Defi projects, first of all try to understand what you are going into, many don't know how risky crypto space is, take risks with what you are ready to throw away.

There were projects that have become big also before but you can't see them anymore if you find them. A lot of projects have made themselves popular during this pandemic and then a lot have fallen to their rankings. With bitcoin, it's still the best and if not safe for the others, it's still the most trustworthy crypto that anyone can invest with. Yet many don't like to buy it and chooses their path to altcoins because they're looking for better and quicker gains whilst for bitcoin, it's steady and slowly.

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Quote from: Accardo on May 31, 2022, 12:00:08 PM

Bitcoin is almost too big to fail because of the technology, mathematics and sciences behind the creation of Bitcoin and bitcoin.

I think Bitcoin is more fragile than people in Bitcoin community believe. Overwhelming majority of Bitcoin's value comes from the hope that ti will be worth more in the future. But what if the market will become saturated, there will be very little new investors who believe in "Bitcoin to the moon"? Then a downward spiral might begin, investors who are tired of waiting for massive profits will dump it and be satisfied with modest profits, investors who barely made any profits would dump it fearing potential loss, and so on.

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

Nothing is too big to fail in crypto world

Ethereum was considered to be too-big-to-fail when it was forked after the DAO hack.

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Quote from: Lida93 on June 01, 2022, 03:08:46 AM

so like the OP said, "take risk with what you're ready to throw away". Doing this won't really be a loss but rather an experience gained to do things differently, smart and better.

Problem is some people forgot or don't know anything about risk management. They invest too much because of the get rich quick mindset. With the parabolic growth of luna in the beginning I'm pretty sure there are some people that only invested because of the hype. But with the Terra Luna collapse, their 6 digits investment became 3 digit just in a week. Some people got depressed to the point that they took their own life because of that experience.

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

it's the same risk involve with crypto generally including BTC but BTC is just way safer

Learn this please and be free of all doubts, bitcoin is in no way to be compared with altcoins, they aren't the same, about 13 years ago that bitcoin has been in use, it was never traced to exhibit any of it system under a fraudulent arena or cease to operate just as many other cryptocurrencies did, most of the altcoins failed along the way if they manage to reach a year or so, but bitcoin over the last 13 years still maintain its nature and remains bitcoin and not a failed project.

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

Nothing is too big to fail in crypto world, Terra Luna is a big example

Even the great wall of Jericho fell down flat those days stated in the Bible. Failing is human, and it is what we do after each failing that actually matters. So the world of cryptocurrency is no exception to failing, which is one thing everybody just need to have at the back of there mind.

Quote

take risks with what you are ready to throw away

Yes.. Because i have heard this countless number of times from several crypto classes i have attended, and with this great fall of Luna Terra, it will serve as s lesson to many.
But actually, its very painful to see your $10,000 portfolio turn $100.. WTF🙉

Lida93

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Failing is not that bad as some see it to be. When we fail we therefore learn how to do a particular thing in different ways, that s according to Herbert .H., only that this is a business world and loss is something no one will like to incur so like the OP said, "take risk with what you're ready to throw away". Doing this won't really be a loss but rather an experience gained to do things differently, smart and better.

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

Nothing is too big to fail in crypto world, Terra Luna is a big example that the safety of your money isn't guaranteed even if you invest in top altcoins out there, it's the same risk involve with crypto generally including BTC but BTC is just way safer, I have seen people losing 6 figures to Luna and some Defi projects, first of all try to understand what you are going into, many don't know how risky crypto space is, take risks with what you are ready to throw away.

I think pretty much has learned over this over and over again. Its not just terra but even the top coins out there are all risky. Yes they could be blue chips but we cant anticipate such event that will occurred to them whether its good or bad. The only thing we must do is be ready and always invest only you can afford to lose. Cause who knows what attack might hit them on or incident that could lead to something like what happened on Luna.

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Size of a project is not a characteristic you should even be looking at when wanting to decide whether the project can fail or not. Unfortunately people keep comparing things with bitcoin and think that the reason why bitcoin is so successful is because "it is big" but the fact is that bitcoin is successful because it is useful and well designed.

Comparing it with altcoins you can see that regardless of their size or rank in the list of market caps, altcoins are not useful and their design is flawed some of them have serious flaws like top altcoins including ethereum. This is why shitcoins like Luna fail, a centralized flawed design was practically guaranteed to fail.

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

Nothing is too big to fail in crypto world, Terra Luna is a big example that the safety of your money isn't guaranteed even if you invest in top altcoins out there, it's the same risk involve with crypto generally including BTC but BTC is just way safer, I have seen people losing 6 figures to Luna and some Defi projects, first of all try to understand what you are going into, many don't know how risky crypto space is, take risks with what you are ready to throw away.

What's happening to Luna is general something that alway occur in cryptocurrency industry, already no cryptocurrency currently is in the better position right, provided that you have make up your mind of having cryptocurrency in your agenda, the risk most be admitted in all forms knowing that cryptocurrency is not assured in the lines of acceleration and fluctuations, at this State Bitcoin who is the mother of all cryptocurrencies is experiencing dip market, so it's obvious to that currencies that lack potentiality will be in the bad state.

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

Nothing is too big to fail in crypto world, Terra Luna is a big example that the safety of your money isn't guaranteed even if you invest in top altcoins out there, it's the same risk involve with crypto generally including BTC

whether only I have a feeling that Terra Luna holders experience that all crypto revolves around that currency?
After the big Luna fall, I have seen many announcements of the crypto world apocalypse. It could be concluded that Bitcoin is imaginary in relation to the super currency Luna.

Trusting the wrong altcoin is a personal mistake and other cryptos, especially not Bitcoin, should not be generalized.

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Quote from: Takyeon on May 31, 2022, 11:41:56 AM

Nothing is too big to fail in crypto world, Terra Luna is a big example that the safety of your money isn't guaranteed even if you invest in top altcoins out there, it's the same risk involve with crypto generally including BTC but BTC is just way safer...

Generally when you invest in crypto, it comes with its own fair share of risks, and of course not just crypto, every investment option has its advantages and disadvantages, but investing in altcoins is quite different from putting your money in Bitcoin. Altcoins are pump and dump projects, short term 'stuffs' that sooner or later will dump, it was Luna a couple of weeks ago, mind you that the problem isn't solely with Luna, as it can be any altcoin next.

Bitcoin on the other hand can plunge/correct in price, but it is a coin that has an actual utility in our society today, that is something most, if not all altcoins can't boast of, thus a coin that has an actual utility can't dump and stay down permanently, it would definitely rise back up again, and history is in its favor as regards that.

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Bitcoin is almost too big to fail because of the technology, mathematics and sciences behind the creation of Bitcoin and bitcoin. Imagine the blockchain network fails that's catastrophic and it's almost impossible, similar to the currency (bitcoin) that was built on it. As for Alt coins, people should stop rating coins eligibility to succeed by its prices but, the use case behind it. Just like I said about blockchain network its the use case of bitcoin and many companies that condemned bitcoin in the past like JP Morgan are working on the technology today. So, use case is what matters when investing on any coin or project on the cryptocurrency market.

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Nothing is too big to fail in crypto world, Terra Luna is a big example that the safety of your money isn't guaranteed even if you invest in top altcoins out there, it's the same risk involve with crypto generally including BTC but BTC is just way safer, I have seen people losing 6 figures to Luna and some Defi projects, first of all try to understand what you are going into, many don't know how risky crypto space is, take risks with what you are ready to throw away.

Topic: No such thing as Too Big to Fail (Read 272 times)