USTC drama | Bitcointalksearch.org

kentrolla

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Quote from: bluebit25 on November 29, 2023, 02:50:42 AM

Quote from: kentrolla on November 27, 2023, 09:57:55 PM

(...)I want to conclude by saying that whenever a coin goes bankrupt and makes a comeback, it does have rally at certain stage but there would be more losers than winners hence I feel this risk doesn't worth it a it may go to zero anytime again. Now people may think I got good profit still whinning, no I know how much stressed out and it doesn't worth t.

Actually, I don't like the fomo of a failed crypto, although I don't deny that it is possible to profit from it, but looking at the way it has moved in the past it is just a simple pump/dump from the whales that still own it.

And when using leverage in futures, I think the risk is many times greater. Yep, I can see someone sharing their profits through this fomo to continue the hype wave that pervades every media outlet. And it seems that the way people seem to forget the mistakes they make is unforgivable. For now, let's continue to watch how long this movie will last.

I know it's FOMO and eventually it will end up as zero and as i mentioned it's high risks and it's whales who are pumping and dumping it to their benefit. I stopped the trading and cashout out after a near experience of going to zero. Sorry If I am mistaken as I didn't mean to encourage anyone to trade USTC because it's a shit coin and can never ever to trusted again

bluebit25

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Quote from: kentrolla on November 27, 2023, 09:57:55 PM

(...)I want to conclude by saying that whenever a coin goes bankrupt and makes a comeback, it does have rally at certain stage but there would be more losers than winners hence I feel this risk doesn't worth it a it may go to zero anytime again. Now people may think I got good profit still whinning, no I know how much stressed out and it doesn't worth t.

Actually, I don't like the fomo of a failed crypto, although I don't deny that it is possible to profit from it, but looking at the way it has moved in the past it is just a simple pump/dump from the whales that still own it.

And when using leverage in futures, I think the risk is many times greater. Yep, I can see someone sharing their profits through this fomo to continue the hype wave that pervades every media outlet. And it seems that the way people seem to forget the mistakes they make is unforgivable. For now, let's continue to watch how long this movie will last.

cryptoaddictchie

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For some leverage it might do soms profits. But I doubt that some are gonna spot buy and hold this until it goes back to its normal price like before. A lot of damages has been done with that and also people will not trust it anymore. Lucky those who buy at the bottom and able to sell it on a bit of top. Well nothing risk will paid off anyway if there is no risk no potential profit. I remmeber how many people suicide or got killed due to Luna crash that affects so many people.

Publictalk792

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We all know that how they trapped people in the past they given a lot of benifits to the stakers they give airdrops. Luna gained a lot but Luna crashed and its price dump significantly. Just like this USTC the stable coin also crashed.
And in the previous some days these both are gaining a lot to trap people. If you think the price will go down so they can give more pump to liquidate people after that they just give a significant dump again.

I will recommend just leave that kind of coins and focus on other coins which are looking real. But no coin has 100% surety that it will remain and will not dump or crash just like Luna. There is only one coin in which we can believe that is Bitcoin and just Bitcoin. Which is fully Decentralized.

dansus021

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Are you following the AsHWallStreetBet on Twitter Grin

he also took a long position before and made short position.

I dont think USTC going back to 1$ again ever again unless all current UTSC redeemed to 1$ by do Kwon Grin

or the miracle happen

bbc.reporter

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Quote from: kentrolla on November 27, 2023, 09:57:55 PM

In past two days USTD has been through a roller coaster ride, as some started investing into USDT and LUNC though I warned it's only for those opportunistic and risky traders who would be active and knows when to apply stop loss and take profit. Again yesterday it went of shorting spree from 0.078 to 0.0301. I mean iont usually do future trading but was involved yesterday shorted from 0.0724 to 0.039 with 20x leverage and got 8x in returns, but we should not be involved in these risky coins if we are not actively monitoring the price.

I want to conclude by saying that whenever a coin goes bankrupt and makes a comeback, it does have rally at certain stage but there would be more losers than winners hence I feel this risk doesn't worth it a it may go to zero anytime again. Now people may think I got good profit still whinning, no I know how much stressed out and it doesn't worth t.

I reckon there is a higher chance that a version 2 of a token is only for marketing and hype to pump the token and have their bagholding whales dump on new buyers' faces. My only words for these buyers are I wish the smell is a very good smell. Much of the time, this leaves a very bad smell hehehehe.

X-ray

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Lucky you. I have seen many people who were longing it and they do believe USTC will repeg to the $1 again and how stupid they are. Im sure they have been liquidated. This is just a pump and dump token. There's no way for USTC to repeg without having 8 billions reserved funds.

The whales were just killing those who were longing this token. USTC will be slowly going back to the bottom again. There have been many people who got trapped caused by they can't leave from there immediately.

USTC pump was trapping so many people. Why there are still people who believe it will go back to the $1 again.

JeffBrad12

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USTC is just a shitcoin, doesn't matter if the value could pump hundred times within a night it would fall to its orignal state in no time.
now its already proven that the pump was short lived, and I guess was artificially made, but I know that binance is trying to have future contract with USTC which I think is a bit shady.
but regardless a stablecoin with no pegging is just a shitcoin, it lost its main function as a stablecoin to mantain wealth from fluctuation because there's nothing that keep its value in the first place.
now its being used as a speculative tool just because these coins still have quite high trading volume which is ridiculous if you think about it, but already abandoned by the devs.

criptoevangelista

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These coins are only worth it if the person has privileged pump and dump information, otherwise they only serve to provide liquidity for the whales who make this movement.

Ben Barubal

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Quote from: slashz9 on November 28, 2023, 02:18:53 AM

luna coin, usdt, lunc, now it's just a pump dump scheme to make a profit, so if you buy and have made a profit get out immediately, because it won't last long, and that's right, the increase starts from a price of 0.016$ then 2 days later rose to 0.078$, today it has fallen to 0.036$. I think in the next 2 or 3 days the price will return to base again

Such events seem to be common, so if we have an idea about such a thing, we should take advantage of it to get a profit from what we are talking about.

But even so, I have no interest in this kind of trading in Lunc, of course I prefer other trading pairs such as Bitcoin to usdt, Bsc-usdt, and others who know if I am capable of making a profit as well, it is difficult to take risks It's just me, I should also have knowledge, right?

AmoreJaz

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Quote from: Bitcoin_Arena on November 28, 2023, 05:58:32 PM

People just don't get it... I believe there is a group of traders of whales that goes around pumping and dumping such coins and then other ignorant traders FOMO and buy only for the coin to dump shortly

It's usually so hard to trade those coins on high leverage as they are very volatile and can easily sweep off your positions or stop losses but one day if you are so lucky, they are one of the sweetest perpetual contracts to short Grin

You have to watch out for the funding fee through.

that's hard to find as most of the time you won't know if it is real or fake claims. so you are just relying on your instincts. the hard part is if are late to the party, you will lose a lot on this type of trading. such drama is nothing new in this market. if you don't know how to manage your funds on this type of investment, better allot it to btc. that's just my opinion. at least, even if there is drama surrounding btc, we all know that this top currency is decentralised.

Bitcoin_Arena

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People just don't get it... I believe there is a group of traders of whales that goes around pumping and dumping such coins and then other ignorant traders FOMO and buy only for the coin to dump shortly

It's usually so hard to trade those coins on high leverage as they are very volatile and can easily sweep off your positions or stop losses but one day if you are so lucky, they are one of the sweetest perpetual contracts to short Grin

You have to watch out for the funding fee through.

Sophokles

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Quote from: kentrolla on November 27, 2023, 09:57:55 PM

In past two days USTD has been through a roller coaster ride, as some started investing into USDT and LUNC though I warned it's only for those opportunistic and risky traders who would be active and knows when to apply stop loss and take profit. Again yesterday it went of shorting spree from 0.078 to 0.0301. I mean iont usually do future trading but was involved yesterday shorted from 0.0724 to 0.039 with 20x leverage and got 8x in returns, but we should not be involved in these risky coins if we are not actively monitoring the price.

I want to conclude by saying that whenever a coin goes bankrupt and makes a comeback, it does have rally at certain stage but there would be more losers than winners hence I feel this risk doesn't worth it a it may go to zero anytime again. Now people may think I got good profit still whinning, no I know how much stressed out and it doesn't worth t.

After what happens with USTC and LUNAC i don't think it still has investors who believe in its long term growth. The Classic Luna network and its stablecoin have already been replaced by the new version of their previous one which has utilities in terra ecosystem. These Luna classic token are just like a souvenir and they don't have any value other than historical ones. They are the reminder of one of the major failure in crypto industry and they are nothing but some speculative asset. This recent pump in those token was done by the market maker.

batang_bitcoin

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It's not worth it when you're trying to rush to trade with that coin. Don't ride on them because you might be the pig that will get slaughtered with it trying to get some pump.
You all know where it has come from and that only means that you should avoid it. But if you think that you want to trade it and that makes you a risky trader, get out of it and make profit as soon as possible.

kentrolla

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Quote from: libert19 on November 27, 2023, 10:05:44 PM

Quote from: kentrolla on November 27, 2023, 09:57:55 PM

Now people may think I got good profit still whinning, no I know how much stressed out and it doesn't worth t.

I know that feel in leverage trading specially when you take risky trades. Although, I still think if you got 8x, it's worth it, at least the outcome was positive.

Risky leverage like 20x can be bad even on safe coins.

Yes, usually 5x is the max leverage which we can take as a professional trader even on safe coins and took a calculated risk and it paid off, repeated the same stuff today on long with 10x and the outcome was positive once again but as you said these are very risky trades and USTC and this whole LUNA coin family can just go to zero like they did in the past and I am getting out of it with one final trade which I have shorted from 0.0429 but unfortunately the market is upwards just waiting to meet break even or some small profit before getting out of this.

slashz9

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luna coin, usdt, lunc, now it's just a pump dump scheme to make a profit, so if you buy and have made a profit get out immediately, because it won't last long, and that's right, the increase starts from a price of 0.016$ then 2 days later rose to 0.078$, today it has fallen to 0.036$. I think in the next 2 or 3 days the price will return to base again

Sayeds56

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Quote from: kentrolla on November 27, 2023, 09:57:55 PM

In past two days USTD has been through a roller coaster ride, as some started investing into USDT and LUNC though I warned it's only for those opportunistic and risky traders who would be active and knows when to apply stop loss and take profit. Again yesterday it went of shorting spree from 0.078 to 0.0301. I mean iont usually do future trading but was involved yesterday shorted from 0.0724 to 0.039 with 20x leverage and got 8x in returns, but we should not be involved in these risky coins if we are not actively monitoring the price.

I want to conclude by saying that whenever a coin goes bankrupt and makes a comeback, it does have rally at certain stage but there would be more losers than winners hence I feel this risk doesn't worth it a it may go to zero anytime again. Now people may think I got good profit still whinning, no I know how much stressed out and it doesn't worth t.

It is very interesting to note that you made good profit by using a clever strategy, specially considering that most likely its price will decline again. i was also surprised to see it rising to the extent of 300% which was unexpected and fortunately I also booked profit on my long standing holdings of USTC. It could be an attempt of a big market player to manipulate its price and take exit after making substantial profit. Let's watch and wait how its situation unfolds in coming days and weeks. Its the time that will reveal the truth behind its sudden surge.

https://www.newsbtc.com/altcoin/terra-classic-ustc-rise-300/

malcovi2

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look at USDD if anyone is interested.. I'm just waiting on how long Justin Sun can maintain the ponzi scheme

martinex

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If USTC goes up LUNC also goes up..It is true that the same hope is also born, if you enter and buy back ustc coins, it cannot be denied that price drama can always happen and they are always waiting for big buyers to move if they are still in position when this possibility occurs. prices are still being manipulated very high by speculators.

EarnOnVictor

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I saw the whole episode as the USTC was being pumped by only God know who.

The crypto market is funny at times, with manipulation everywhere, do they want people to still invest in such a failed project? A supposed stablecoin that is not stable. It went from $0.013+ to $0.078+ in about 4 days and dropped to $0.043 in less than 24 hours afterwards shortly after reaching that peak. This is a pure manipulation that couldn't survive their plan.

I wonder who would still foolishly invest their money in such a failed project, something that was supposed to be pegged with USD. However, LUNA and LUNC didn't move much but they also breathed new air because of this.

Topic: USTC drama (Read 167 times)