Will LUNA's downfall scare away investors from the crypto market? - page 5.

0verseer

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Quote from: dezoel on June 03, 2022, 05:58:23 AM

Quote from: zasad@ on June 01, 2022, 05:53:05 AM

The LUNA team committed a big scam. The airdrop must be for all UST token holders both before and after the attack. Luna tokens were distributed only to owners of UST tokens before the attack, who used their tokens in Anchor Protocol. Holders of UST tokens before the attack did not receive compensation for losses.

Interestingly, I disagree with this. I do not think that they scammed anyone, I do not think that they are bad people, I just believe that they are morons who couldn't protect the money they were given and they just did stupid things.

Maybe I am wrong, and they actually did scammed people, maybe Do Kwon is a bad person who stole your money, but to me it looks like they tried something and did it legit and ended up losing a ton of money while doing it and other people scammed them out of your money. It is like a bank getting a bank robber, the bank is not the responsible party there, the robber is, but the bank lost your money, so you would be angry at the bank of course.

It's very hard to swing from "they're just incomplete" to escape all the responsibility and potential of "doing it intentionally". No, I don't believe the Terra/Luna team. They realize they can just turn off Luna's minting right away when UST loses its peg. But they don't and only after many times of Luna's minting, making Luna lose 99% of its worth then they stopped despite many people telling them to do that at the start. The case of Luna will scare away investors from the crypto market since we now have some more clever tricks of self-sabotage, an exit pulls far better than those 'inside hacks'.

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Quote from: asyakashi on June 03, 2022, 09:04:13 AM

Some investors who are new to cryptocurrencies and are recommended to invest in LUNA must experience severe depression and trauma. With that incident I'm sure some of them really think cryptocurrency is a big scam. But in fact they may not have researched the big risks of investing because they were only consumed by the talk that was in LUNA who bought at the initial price.

Many beginners are very frustrated and traumatized by the loss effect of Luna investment, so it is very sad if any other investors suggest investing in risky coins, I think they should find a professional mentor for investment advice on potential coins like BTC and ETH.

asyakashi

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Some investors who are new to cryptocurrencies and are recommended to invest in LUNA must experience severe depression and trauma. With that incident I'm sure some of them really think cryptocurrency is a big scam. But in fact they may not have researched the big risks of investing because they were only consumed by the talk that was in LUNA who bought at the initial price.

LUCKMCFLY

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I think that the fall of LUNA will not scare away any investor from the market, on the contrary it will attract more towards btc because they will consider it the safest of all investments, it is clear that they can establish some altcoins as the best refuge options when BTC is trending bullish and want to do maybe a 2x, 3x, 10x in the best of scenarios, but those who lost with LUNA know very well that they were exposed to the fact that something like this could happen, in fact any cryptocurrency can happen, and it is very minimal the option that BTC happens something like that because there is very strong institutional investment.

dezoel

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Quote from: zasad@ on June 01, 2022, 05:53:05 AM

The LUNA team committed a big scam. The airdrop must be for all UST token holders both before and after the attack. Luna tokens were distributed only to owners of UST tokens before the attack, who used their tokens in Anchor Protocol. Holders of UST tokens before the attack did not receive compensation for losses.

Interestingly, I disagree with this. I do not think that they scammed anyone, I do not think that they are bad people, I just believe that they are morons who couldn't protect the money they were given and they just did stupid things.

Maybe I am wrong, and they actually did scammed people, maybe Do Kwon is a bad person who stole your money, but to me it looks like they tried something and did it legit and ended up losing a ton of money while doing it and other people scammed them out of your money. It is like a bank getting a bank robber, the bank is not the responsible party there, the robber is, but the bank lost your money, so you would be angry at the bank of course.

whiteblue

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Quote from: NicNacCoin on June 01, 2022, 01:48:41 PM

Of course the money people have lost from Luna will scare people from investing for the rest of their lives.This is the first time in my life that I have seen such a popular and the best coin of the year being scammed.I've never seen anything like it. Luna answer will intimidate every investor and deter people from investing

I don't think Luna's investors will deter or scare people from wanting to invest in Luna, but suggest that we should be careful when investing in Luna and consider before rushing to make instant profits. The luna coin no longer has the trust of the community so it would be easy to drop the price at any time before the luna holder loses even more.

NicNacCoin

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Of course the money people have lost from Luna will scare people from investing for the rest of their lives.This is the first time in my life that I have seen such a popular and the best coin of the year being scammed.I've never seen anything like it. Luna answer will intimidate every investor and deter people from investing

RussianEnglishTranslation

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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.

You're in luck. Since you posted this the market recovered and there was a Luna v2 airdrop. There is also a CNDL bounty, which is a great way to recoup some of those Luna losses. Next time do more research before investing. Only invest in projects that have real world usecases, not stablecoins with ponzinomics.

zasad@

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The LUNA team committed a big scam. The airdrop must be for all UST token holders both before and after the attack. Luna tokens were distributed only to owners of UST tokens before the attack, who used their tokens in Anchor Protocol. Holders of UST tokens before the attack did not receive compensation for losses.

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this certainly scares some investors, even people who hate crypto again say that with the fall of LUNA, it proves what they say. however, I'm sure enough people panicked to sell their assets when the price of LUNA fell. however, it was indeed a terrible thing. it's just, I'm sure that this can be a development for the next crypto. in fact, until now there are still quite a lot of investors who enter the crypto world. maybe quite a lot of people are afraid, but to be successful in the investment world, things like this are things that need to be understood, that there will be quite a big risk. crypto is the technology of the future, that's why it will survive.

JahriMeayer

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It was a scary incident for everyone who connected with crypto market even for them who didn’t invest in luna. Luna and ust downfall make investors scare as we can see how a top coin can destroy like this. So it won't be a big deal to downfall for a normal altcoin! With this though, investors are in tension but this is temporary. People will be out of scare after somedays but i don't know how to get rid of such condision in future

MrDave

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I will not disagree. Even though I started keeping my eyes on the market very carefully then, investors must have gotten scared and panicked about the situation, as it was supposed to be that way in this specific situation. But then I knew it would be going back to normal in some days. That's how I was preparing my mind.

Abiky

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Quote from: Sayeds56 on May 24, 2022, 08:24:40 AM

What happened with Luna has already damaged the confidence of market participants, money is flying away from crypto market which is evident from declining marketcap and certainly it will scare away investors in the short to medium term but in the long run people will forget because human memory is very short. All markets have seen crash, long bear cycles and recessions but after sometime process of recovery starts,

Depending on the severity of the crash, people might never forget about Terra/LUNA's scandal. There were billions of dollars on the line, which all went away in an instant due to the irresponsibility of the Terra team. Unless the UST peg is restored and LUNA's price goes back to normal, it's going to take a long time before confidence is regained on crypto/Blockchain tech. At least, Bitcoin and some other "blue chip" coins are standing strong. LUNA may fade into oblivion, but another cryptocurrency will take its place in the future.

All in all, I think decentralization needs to win for crypto to last a long time. For now, let's focus on accumulating BTC and other prominent alts to achieve peace of mind in the future. Just my thoughts Grin

Sayeds56

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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.

What happened with Luna has already damaged the confidence of market participants, money is flying away from crypto market which is evident from declining marketcap and certainly it will scare away investors in the short to medium term but in the long run people will forget because human memory is very short. All markets have seen crash, long bear cycles and recessions but after sometime process of recovery starts,

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There has been disbelief from investors about crypto investment ever since the luna price crashes started. What happened to luna is an unspeakable incident that will only take time to be forgotten and heal from people's hearts. It is unfortunate that many investors globally got rugpulled unexpectedly. Investors are now taking their time to heal from it.
If Luna's recovery plan works out fine(buyback and luna burn) it will bring investors' hope back into the cryptosphere. Let's be hopeful for that. At least to see how the turnaround would be in the price of the luna coin

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Quote from: freedomgo on May 23, 2022, 08:38:55 AM

Temporarily maybe, but over time people will still come back, especially if the market is starting to be bullish.
We have worst news than this in the past, but the market still survives, the biggest was on the exchanges getting hacked, and the market dumped because people panicked, but as I said, it still recovers over time.

So think of this, crypto has matured already, panic is normal but this market is not going to die as it will grow more in the long run.

It was believed that the Mt. Gox hack would damage crypto's reputation for good. Yet, here we are with many countries and individuals supporting crypto/Blockchain tech every step of the way. The same situation might happen after Terra/LUNA's collapse. Things may look dark for the crypto industry now, but in the future, everything will be much better. We just have to persevere in order to obtain great results in the future.

Bitcoin's been standing strong after all these years, so I'm confident it'll grow into a much bigger force within a decade from now. Haters will always criticize the revolution, but believers will keep on building in order to make our world a better place. Who knows how decentralized finance's future will be? Just my thoughts Grin

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Quote from: Abiky on May 22, 2022, 08:19:18 PM

...Who knows if what happened with LUNA encourages developers to improve algorithmic stablecoins for the better?

The first warning for the owners of algorithmic stablecoins was from the Waves blockchain and its USDN stablecoin. This was followed by the collapse of the UST stablecoin. And now we are witnessing another drama with the DEI stablecoin, the price of which has dropped to $0.86. And if the owners of other algorithmic stablecoins do not learn a lesson from what is happening, they will be next.

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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? 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.

No!
- It was because not all investors are investing in Luna and these people will never be worried about what it happens with this project as they don't care about it.
- real investors, institutional investors aren't just focus on a single coin so they can easily move on and recover any losses. Might thos be hard for small investors and have worries to try again but never I think this will give influence to the other and also with the market development.

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Yeah, I think the depeg and exit scam frightened off a lot of investors. A lot of people are back at square one collecting airdrops and bounties, like the one from Candle Chain and some on coinmarketcap and dappradar.

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Temporarily maybe, but over time people will still come back, especially if the market is starting to be bullish.
We have worst news than this in the past, but the market still survives, the biggest was on the exchanges getting hacked, and the market dumped because people panicked, but as I said, it still recovers over time.

So think of this, crypto has matured already, panic is normal but this market is not going to die as it will grow more in the long run.

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