Luna UST12 May 2022 10:27
Wow, when you thought you'd seen crazy.. It gets worse.
A couple of observations. I love a high risk play but to be fair, this year that has burnt me a few times. So worth saying, always only ever take risks with small parts of your portfolio you are prepared to lose.
1. This is not a rug pull. The team are trying to and have been trying to fix things. (NOT VERY WELL SO FAR!)
2. This was clearly an attack, could be by many. The Luna chain was getting busier the ETH in areas.
3. There is a whole host of developers and apps that have gone nowhere and are deployed on the L1.
4. They are all part of that community.
5. All of this is cascaded by leverage trading which is now being halted by exchanges.
6. If crypto is "community" based, why aren't the whole community (the ones who weren't recked) helping and now buying.
7. In doing so, they would prove community works, In doing so, every one entering at the under $1 would have the chance of 100x by next bull run.
I've bought a small amount of both. They are kind of hedging each other currently as tether recovers, Luna dilutes. I am fully prepared to lose it all.
Started buying here today again also, has been a painful year but still hold some and am planing to add throughout the bear market ready for 2025.
Make sure you turn off and enjoy life when markets get like this. Long term always rides it out. If you need your money, hold cash.
GLA