Will LUNA's downfall scare away investors from the crypto market? - page 2.

ven7net

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Quote from: Abiky on May 16, 2022, 07:10:46 AM

This past week has been all about LUNA's downfall in price and how UST lost its peg at a very fast pace. Many investors lost their money as the cryptocurrency went from being worth around $80 to just $0 in a few days. There's a lot of FUD surrounding crypto right now, especially with Terraform Labs' inability to restore the peg. If LUNA doesn't recover, this could lead the whole crypto market towards another direction. As promising as crypto/Blockchain tech is, things like this greatly damages its reputation.

Do you think LUNA's downfall will scare away investors from the crypto market? If not, why? Is there light at the end of the tunnel for the whole crypto/Blockchain industry? Your input will be greatly appreciated. Thanks.

It so happened that in the history of the development of the crypto industry there are a lot of such stories as with Luna and UST, it’s just that all this is forgotten over time, especially when BTC and other cryptocurrencies grow in price and show new heights. As for my opinion on the situation with Luna and UST and will this situation scare off investors? Here I see it like this, part of the investors will conditionally leave the market, but this happens periodically, but as soon as the bulls enter the market again and the flight to the moon appears, the crypto market will again acquire a new one, maybe even more investors. It has been so in the past and it will probably be so in the future.

Adbitco

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Currently peoples life is at stake now those who used their live savings to invest in LUNA might commit suicide seeing that $300k worth of investment when down to nothing and you think those who were victim will encourage their friends and relatives to invest again?
It is simply No because from the tragedy none can control his emotion maybe some may, looking closely this could be the drastic fall of the crypto market since investors are trying to secure their funds.

yurez

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Quote from: Abiky on May 16, 2022, 07:10:46 AM

Do you think LUNA's downfall will scare away investors from the crypto market?

The fall of LUNA plunged many investors into a financial hole and it will be extremely difficult to restore confidence, as many lost a lot of money on this fall. Against the backdrop of a sell-off in the cryptocurrency market, other altcoins and stablecoins also suffered. Although such collapses of large tokens in the crypto market are rare, the fall of the UST stablecoin will undermine the credibility of all other stablecoins, even secured ones, and this threatens capital outflow, which we are now seeing.

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Quote from: Abiky on June 19, 2022, 07:15:01 PM

Quote from: leea-1334 on June 16, 2022, 03:43:33 AM

The sad part is not that people believe guys like him can be good. The sad part is that most of these people actually knew the risk and knew they were part of a bubble,,, and just wanted to get in and get out before it popped. I mean come on 20% APY on stablecoin,,, was that not a sign it was a ponzi?

I think I feel sorry for newbies but the truth is a lot of investors knew it was a gamble and got in thinking they could outsmart others. Unrealistic profit comes at expense of others. People must know this.

Exactly. But people were too greedy to ignore the facts. As long as money talks, nothing else matters. It's unfortunate how Terra/LUNA's events led to a mistrust in crypto/Blockchain tech. Investors got scared after the so-called "stablecoin" lost its peg in an instant. It's going to take quite a while before confidence/trust is restored into the crypto market as a whole.

With what happened with Terra, and now Celsius, prices for major cryptocurrencies will decline like crazy. I don't think the new iteration of Terra (Terra 2.0) will be a success because the team failed to meet with the community's demands. How would you expect a cryptocurrency project to survive if it lacks community support? May the current bear market serve as a cleansing period to wipe out the bad projects for good. Who knows what the future holds for the entire crypto/Blockchain industry? Just my thoughts Grin

Or maybe the word trust is no longer attached to this project. There might be some who are willingly take the big risk and continue to invest. Trying to buy and sell while the market movement still wild, but solid support from people or investors who are willing to wait for the development, it's a big question if there are still old support that will continue to trust the team after what happened to the value of this asset,.

Abiky

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Quote from: leea-1334 on June 16, 2022, 03:43:33 AM

The sad part is not that people believe guys like him can be good. The sad part is that most of these people actually knew the risk and knew they were part of a bubble,,, and just wanted to get in and get out before it popped. I mean come on 20% APY on stablecoin,,, was that not a sign it was a ponzi?

I think I feel sorry for newbies but the truth is a lot of investors knew it was a gamble and got in thinking they could outsmart others. Unrealistic profit comes at expense of others. People must know this.

Exactly. But people were too greedy to ignore the facts. As long as money talks, nothing else matters. It's unfortunate how Terra/LUNA's events led to a mistrust in crypto/Blockchain tech. Investors got scared after the so-called "stablecoin" lost its peg in an instant. It's going to take quite a while before confidence/trust is restored into the crypto market as a whole.

With what happened with Terra, and now Celsius, prices for major cryptocurrencies will decline like crazy. I don't think the new iteration of Terra (Terra 2.0) will be a success because the team failed to meet with the community's demands. How would you expect a cryptocurrency project to survive if it lacks community support? May the current bear market serve as a cleansing period to wipe out the bad projects for good. Who knows what the future holds for the entire crypto/Blockchain industry? Just my thoughts Grin

gurunanakji777

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The effect of LUNA downfall scared the investors to some extent in my opinion because when a trusted project collapse it affects the market badly and the trust factor in the crypto market is also affected. Now we are seeing a huge drop in the crypto market after the LUNA collapse but I won't blame only LUNA for this there are some other factors also. The fear factor is very high most of the investors avoiding to take risks but my opinion is different we never expect that BTC and Eth will crash to the current prices now I am not expecting more major drops in the market so for investors it is the best time to have gems of the crypto market so guys we should take the benefit of the current market.

Faisal2202

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All blame could not be just put on Luna their are many fomos in the community right now, even in this deflation, price of everything is touching sky people are forced to withdraw money from crypto to fiat to fulfill their needs. Tron's pegged token is also at .98 or something near it from last few days, usdt news about extending supply is also a reason that people no more trust this mechanism, infact it's remains only busd which took place of everything, So in crypto ups and downs are temporary, leta see what comes next after this difficult time.

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Quote from: passwordnow on June 15, 2022, 10:34:16 AM

Quote from: leea-1334 on June 15, 2022, 07:10:45 AM

Get out. Move on. Leave this guy.

The sad part is that I still see people taking a big leap of faith hoping that he's going to be the good guy. These people are hoping for nothing and they should have just leave him and accept that the money they've invested are gone forever.
It's hard to accept that fact from these investors especially if they've invest huge amount of their savings and they've trusted this con until he had shown his true self.

The sad part is not that people believe guys like him can be good. The sad part is that most of these people actually knew the risk and knew they were part of a bubble,,, and just wanted to get in and get out before it popped. I mean come on 20% APY on stablecoin,,, was that not a sign it was a ponzi?

I think I feel sorry for newbies but the truth is a lot of investors knew it was a gamble and got in thinking they could outsmart others. Unrealistic profit comes at expense of others. People must know this.

Abiky

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Quote from: ?? on ??

What has happened to LUNA is one of the worst cases in cryptocurrency history. I really regret that incident. But that doesn't mean it will be a red light for the entire Blockchain system. I think it will be an experience and will make the system on cryptocurrency even better in the future.

I think this is more of a lesson for investors to never trust stablecoins unless they're fully regulated by the government. Just because the UST stablecoin was offering high interest rates to "hodlers" doesn't mean it was a good long-term investment. Only regulations can guarantee investor protections. While the crypto market will continue to decline within the short term, it's likely it will recover after the dust settles. Behind the scenes, crypto/Blockchain tech is being heavily developed to become bigger, faster, and stronger than ever. As long as decentralization wins, there should be nothing to worry about. Just my opinion

passwordnow

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Quote from: leea-1334 on June 15, 2022, 07:10:45 AM

Quote from: passwordnow on June 14, 2022, 08:18:03 AM

Yeah, he's not really going to do anything like this. He's made money out of people's mone so why pay the damages that he has done. Let the government of South Korea deal with him and charge everything that they have to charge against him.
Kwon have probably planned all of this, he made a hype by purchasing continously of bitcoin before the bear market and that sure made him fame but he's got a dark plan behind it.

Not 'not really',,, just never. He has already done this before. Why would he change his plans and be good all of a sudden when he has already made so much money, just like before?

I keep saying he has done it before, Luna is not his first scam, not even the first new scam. He did it exactly same in 2021, and again in 2022 with new project and now a third project (at least that we know about).

Get out. Move on. Leave this guy.

The sad part is that I still see people taking a big leap of faith hoping that he's going to be the good guy. These people are hoping for nothing and they should have just leave him and accept that the money they've invested are gone forever.
It's hard to accept that fact from these investors especially if they've invest huge amount of their savings and they've trusted this con until he had shown his true self.

kensaii

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They scare away investors but worse, they also show people that cryptos can easily be attacked or triggered to collapse. Cryptos are mostly based on trust and belief. If investors lost their trust and belief in one or two projects that deeply integrated with the cryptos ecosystem, this could lead to the downfall of the others and the market as a whole.

leea-1334

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Quote from: passwordnow on June 14, 2022, 08:18:03 AM

Quote from: leea-1334 on June 13, 2022, 06:24:52 AM

But he will never do anything like this,,, if there is anything anyone can take as a lesson from history of altcoin scammers and of Do Kwon himself, it is that he is sticking around to make even more money from all the believers.

I already said before I do not feel sorry for Luna holders but if you guys are reading this,,, please stop the nightmare and stop enriching project devs. Get out and move on.

Yeah, he's not really going to do anything like this. He's made money out of people's mone so why pay the damages that he has done. Let the government of South Korea deal with him and charge everything that they have to charge against him.
Kwon have probably planned all of this, he made a hype by purchasing continously of bitcoin before the bear market and that sure made him fame but he's got a dark plan behind it.

Not 'not really',,, just never. He has already done this before. Why would he change his plans and be good all of a sudden when he has already made so much money, just like before?

I keep saying he has done it before, Luna is not his first scam, not even the first new scam. He did it exactly same in 2021, and again in 2022 with new project and now a third project (at least that we know about).

Get out. Move on. Leave this guy.

passwordnow

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Quote from: leea-1334 on June 13, 2022, 06:24:52 AM

Quote from: passwordnow on June 13, 2022, 02:05:55 AM

Yeah, he just funded himself through that "recovery" plan that he has proposed to everyone. But look, we can't blame the bear market this time because sure he for sure made money out of this situation and he should pay all of the damages he's done to every investor of his tokens.

But he will never do anything like this,,, if there is anything anyone can take as a lesson from history of altcoin scammers and of Do Kwon himself, it is that he is sticking around to make even more money from all the believers.

I already said before I do not feel sorry for Luna holders but if you guys are reading this,,, please stop the nightmare and stop enriching project devs. Get out and move on.

Yeah, he's not really going to do anything like this. He's made money out of people's mone so why pay the damages that he has done. Let the government of South Korea deal with him and charge everything that they have to charge against him.
Kwon have probably planned all of this, he made a hype by purchasing continously of bitcoin before the bear market and that sure made him fame but he's got a dark plan behind it.

leea-1334

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Quote from: Ziskinberg on June 13, 2022, 08:17:58 AM

Quote from: leea-1334 on June 13, 2022, 06:24:52 AM

I already said before I do not feel sorry for Luna holders but if you guys are reading this,,, please stop the nightmare and stop enriching project devs. Get out and move on.

Yes, it was done, Luna has turned to scam and even the devs will come up with another way to rebuild their reputation, yet it was ruined already and investors will never forget about it. In fact, they used to have forked but seems it never change the mindset of the people, it still dump and get worsen. I'd never know if there is someone who can afford to hold Luna, I guess everyone is moving out from this scam project.

It did not 'turn to scam' though. It was already a scam from the beginning (look up Do Kwon previous project before Luna). Exact same mechanism exact same depegging exact same exit.

So this Luna 2.0 is at least the third time he is scamming people,,, as I keep saying often. Shitcoins are shitcoins. They do not turn to scam,,, they are scams from the start just waiting to happen!

Rigon

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Yes, of course the fall of Luna has intimidated investors and individuals in cryptocurrency. People are now afraid to invest in the coins that Adars has The market has suffered a lot due to the Luna scam.Those who invested in Luna coins have suffered a lot. I was also a Luna holder.I've suffered a lot from here. Considering my situation, I can say that people have lost the tendency to invest.

Finestream

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Quote from: Abiky on May 16, 2022, 07:10:46 AM

This past week has been all about LUNA's downfall in price and how UST lost its peg at a very fast pace. Many investors lost their money as the cryptocurrency went from being worth around $80 to just $0 in a few days. There's a lot of FUD surrounding crypto right now, especially with Terraform Labs' inability to restore the peg. If LUNA doesn't recover, this could lead the whole crypto market towards another direction. As promising as crypto/Blockchain tech is, things like this greatly damages its reputation.

Do you think LUNA's downfall will scare away investors from the crypto market? If not, why? Is there light at the end of the tunnel for the whole crypto/Blockchain industry? Your input will be greatly appreciated. Thanks.

If they plan to invest into another new project, I guess that will trigger their decision either not to take the risk. But if they are focused on investing bitcoin and decide to stay away with new altcoins, most likely they will not be affected at all. After all, losing in the crypto market is always inevitable because there’s always risk involved even in bitcoin investment. But if you invest into proven and established coins, the chance to lose is very slim.

nurilham

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At that time, actually, the sudden crash and decrease of a top coin like LUNA really bit our hearts. How can a top coin become that shit coin only in several hours? But this is crypto market where everything can happen. Of course, this will become warning for us that we don't need to invest in shit coin. We need to elarn much on this elarning.

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Quote from: Miaallen on June 13, 2022, 12:51:57 AM

The LUNA crash is really putting serious investment senses into people in the Cryptocurrency world nowadays. And it is scaring the new ones away. Many have taken the little profits they are able to gather to invest in gold and stocks until there is a green light for the next bull run. We were already entering the bear market but the LUNA crash accelerated it and dipped its effects on almost all of us.

If they are not open minded and only believe on one side then that is going to happen but if they are open minded and willing to consider others' opinion, they will know that not all cryptos are the same, that not all are faulty or scams.

For those who invest in luna, they are lucky if they can still get something out of it but that would be the best thing that they can do than wait before the price completely turn unto zero. Gold and stocks are much safer compare to it but like I said earlier there are still other good cryptos out there. Why not go on them instead of gold and stocks? As the potential to earn is much bigger when the bull run comes.

joeperry

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It's simple explanation I think. People just lose their trust to the project and wouldn't work to that project anymore so it is not surprising that the new LUNA will never go above $10 in my opinion and even if they say that it won't happen again, it is much better to be safe by not buying or investing to that project again after all there's a lot of other coins you can choose from, right?

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Quote from: leea-1334 on June 13, 2022, 06:24:52 AM

Quote from: passwordnow on June 13, 2022, 02:05:55 AM

Yeah, he just funded himself through that "recovery" plan that he has proposed to everyone. But look, we can't blame the bear market this time because sure he for sure made money out of this situation and he should pay all of the damages he's done to every investor of his tokens.

But he will never do anything like this,,, if there is anything anyone can take as a lesson from history of altcoin scammers and of Do Kwon himself, it is that he is sticking around to make even more money from all the believers.

I already said before I do not feel sorry for Luna holders but if you guys are reading this,,, please stop the nightmare and stop enriching project devs. Get out and move on.

Unfortunately denial is another stage of going down. There are tons of people who are in denial that the project they trusted so much crashed, and there are some who completely left crypto all together because of Luna as well, which makes absolutely no sense.

I remember a person who wrote on local boards that he invested 500 bucks and had 30 cents left, and he said ALL crypto is a scam and left, and used the crypto prices going down as a proof, like how bitcoin is low right now. I am sorry, but that is just ignorance to me. So, both sides are terrible, do not hope the worlds from luna, do not leave all crypto because of luna, find the middle ground.

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