Alex 35059 Posted January 22, 2022 Share Posted January 22, 2022 Never saw that coming Link to comment Share on other sites More sharing options...
Meenzer 15518 Posted March 30, 2022 Share Posted March 30, 2022 3 Link to comment Share on other sites More sharing options...
Rayvin 5217 Posted May 12, 2022 Share Posted May 12, 2022 I don't know if anyone on here besides myself and Quiff actually did pay attention to this stuff but there's a fantastic meltdown going on right now and we appear to be entering the bear market properly. One of the biggest coins dropped from $90 to.. currently at about $0.05. Not a confidence thing though tbf, it had its underlying system exploited and money just caned out of it. We are almost certainly going to see this space regulated now, at least as far as stablecoins go. Fun times Link to comment Share on other sites More sharing options...
ewerk 30544 Posted May 12, 2022 Share Posted May 12, 2022 Awww, my heart goes out to them. Link to comment Share on other sites More sharing options...
Rayvin 5217 Posted May 12, 2022 Share Posted May 12, 2022 Luna is a great example of people not understanding what they've bought tbf, although some are calling it a ponzi scheme with a measured amount of accuracy IMO. What has happened in a nutshell is that the sister coin to it, UST, lost its pegging with the dollar (which was why it existed, and the whole ecosystem relied on it). When that happens, Luna has to balance it up - and it happened so hard, through being attacked by a hedgefund as far as anyone can tell, that Luna simply couldn't keep up. Consequently they've had to resort to hyperinflation and are mass printing Luna in order to push up UST - the hope being, I think, that doing so will save the ecosystem. Remains to be seen but a lot of people have lost a great deal of money, and this was meant to be one of the safer options in the space. Undone by the the overlooking of a systemic error. Link to comment Share on other sites More sharing options...
spongebob toonpants 3993 Posted May 12, 2022 Share Posted May 12, 2022 (edited) https://twitter.com/FreddieRaynolds/status/1463960623402913797?s=20&t=I5krAFED-NZ3aEjXPivYrA Don't know why tweet hasn't embedded, but it's someone saying how to export Luna 6 months ago and predicting exactly what happened Edited May 12, 2022 by spongebob toonpants Link to comment Share on other sites More sharing options...
Dr Gloom 21912 Posted May 12, 2022 Share Posted May 12, 2022 34 minutes ago, Rayvin said: Luna is a great example of people not understanding what they've bought tbf, although some are calling it a ponzi scheme with a measured amount of accuracy IMO. What has happened in a nutshell is that the sister coin to it, UST, lost its pegging with the dollar (which was why it existed, and the whole ecosystem relied on it). When that happens, Luna has to balance it up - and it happened so hard, through being attacked by a hedgefund as far as anyone can tell, that Luna simply couldn't keep up. Consequently they've had to resort to hyperinflation and are mass printing Luna in order to push up UST - the hope being, I think, that doing so will save the ecosystem. Remains to be seen but a lot of people have lost a great deal of money, and this was meant to be one of the safer options in the space. Undone by the the overlooking of a systemic error. Day of reckoning for crypto, long overdue. Link to comment Share on other sites More sharing options...
Rayvin 5217 Posted May 12, 2022 Share Posted May 12, 2022 Just now, Dr Gloom said: Day of reckoning for crypto, long overdue. You say that but it's not the first time this has happened It'll be interesting to see what happens from here but it's not going to die. What it may do, and I think it likely a positive, is shake off all the people who had no idea what they were investing in and were just chasing gains. Until the next time it comes around of course. Blockchain isn't going anywhere though, and cryptocurrencies are the mechanism by which it operates. Link to comment Share on other sites More sharing options...
Rayvin 5217 Posted May 12, 2022 Share Posted May 12, 2022 8 minutes ago, spongebob toonpants said: https://twitter.com/FreddieRaynolds/status/1463960623402913797?s=20&t=I5krAFED-NZ3aEjXPivYrA Don't know why tweet hasn't embedded, but it's someone saying how to export Luna 6 months ago and predicting exactly what happened Yeah there's plenty of people loading up on the "I told you so" perspective for Luna. It's a really good lesson in actually taking the time to understand what you're investing in and how it works, because it very much was viewed as the industry darling in terms of stability. To be let down by an exploit like this is a real shame and will heap scrutiny on the other stablecoins and the industry in general. All because Do Kwon didn't take criticism properly. Link to comment Share on other sites More sharing options...
Howmanheyman 33113 Posted May 12, 2022 Share Posted May 12, 2022 "Sooooo you don't have cash money?" 3 Link to comment Share on other sites More sharing options...
RobinRobin 11258 Posted May 12, 2022 Share Posted May 12, 2022 Okay I'm back to the cooking thread! 1 Link to comment Share on other sites More sharing options...
Meenzer 15518 Posted November 14, 2022 Share Posted November 14, 2022 Hard to believe this fella ran into difficulty given his natural curiosity about the world. 5 Link to comment Share on other sites More sharing options...
Gemmill 44804 Posted November 14, 2022 Share Posted November 14, 2022 Once you see behind the curtain with some of these lads. Like I would NEVER buy a Tesla now that I've seen the cavalier approach Musk has taken with twitter. These people are cowboys. 3 Link to comment Share on other sites More sharing options...
Toonpack 9385 Posted November 14, 2022 Share Posted November 14, 2022 Who would have thought that swapping real money for something that isn't tangible and doesn't exist, would turn your money into something that isn't tangible and doesn't exist. 2 Link to comment Share on other sites More sharing options...
Alex 35059 Posted November 14, 2022 Share Posted November 14, 2022 Condolences, TGQ 1 1 Link to comment Share on other sites More sharing options...
RobinRobin 11258 Posted November 14, 2022 Share Posted November 14, 2022 1 minute ago, Alex said: Condolences, TGQ Nah. Fuck him 🙂 2 Link to comment Share on other sites More sharing options...
Howmanheyman 33113 Posted November 14, 2022 Share Posted November 14, 2022 1 hour ago, Alex said: Condolences, TGQ It gets worse..... 10 Link to comment Share on other sites More sharing options...
Dr Gloom 21912 Posted November 14, 2022 Share Posted November 14, 2022 there will be hollywood films made about this fucking scam 1 Link to comment Share on other sites More sharing options...
Gemmill 44804 Posted November 14, 2022 Share Posted November 14, 2022 Quiff to be played by Stifler. 1 Link to comment Share on other sites More sharing options...
Monkeys Fist 42378 Posted November 14, 2022 Share Posted November 14, 2022 “Mention ‘head’ one more time, mothafukka!” 2 Link to comment Share on other sites More sharing options...
tomthomas 0 Posted February 20, 2023 Share Posted February 20, 2023 Bitcoin, the largest cryptocurrency by market cap, is a risky investment with high volatility. It should only be considered if you have a high risk tolerance, are in a strong financial position and can afford to lose any money you invest in it. Link to comment Share on other sites More sharing options...
Alex 35059 Posted February 20, 2023 Share Posted February 20, 2023 7 minutes ago, tomthomas said: Bitcoin, the largest cryptocurrency by market cap, is a risky investment with high volatility. It should only be considered if you have a high risk tolerance, are in a strong financial position and can afford to lose any money you invest in it. 3 Link to comment Share on other sites More sharing options...
Meenzer 15518 Posted February 20, 2023 Share Posted February 20, 2023 7 minutes ago, tomthomas said: Bitcoin, the largest cryptocurrency by market cap, is a risky investment with high volatility. It should only be considered if you have a high risk tolerance, are in a strong financial position and can afford to lose any money you invest in it. Cheers buddy 1 Link to comment Share on other sites More sharing options...
Toonpack 9385 Posted February 20, 2023 Share Posted February 20, 2023 Should start a Britcoin crypto scheme, make a fortune off all the sovereignty whores 3 Link to comment Share on other sites More sharing options...
RobinRobin 11258 Posted February 21, 2023 Share Posted February 21, 2023 11 hours ago, tomthomas said: Bitcoin, the largest cryptocurrency by market cap, is a risky investment with high volatility. It should only be considered if you have a high risk tolerance, are in a strong financial position and can afford to lose any money you invest in it. 2 Link to comment Share on other sites More sharing options...
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