The fate of cryptos after Luna

Namaskar/Hi,

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Source - @littlebirth / Twitter

Its very disturbing to see cryptos performing like this. Value is one thing, it will pump or dump. But, the important factor is how we look at cryptos right after LUNA/UST Fiasco. How badly it has affected the faith of newbies as well as veterans. This one incident I think, not even influencers has anything much in their hands to do justice with their holdings. TWITTER, YOUTUBE, TELEGRAM, REDDIT... chaos everywhere.

At this moment, Luna can be consider as dead. UST struggling to come above .60 Cents mark. Bitcoin is slightly up by 6% @ $30,360. Altcoins are bleading, market in extreme fear phase. Any pump I see, looks like a shake-off, bull trap.

I had no holdings at the time of dump, so I am not affected at all. But how it has affected the entire crypto ecosystem is the point of concern to me. If the weekly average closing comes closer to $30k mark then in some way it can be consider as a relief breath.

Influencers expecting that one more dump is quite evident considering the chaos. Those who lost their earnings in Luna dump, may have been going through a trauma at the moment. Its the first instance where the number of suicides due to this trauma is increasing day by day. Algorithmic stablecoins are on the traget, yesterday USDT went as low as 0.96 dollar. USDC spiked upto $1.20, but it is considered as a way of pulling of other stablecoins customers.

Luna has impacted many lives, family, made the buyers to regret. On the top of this, predicting the next pump is a bullshit thing. The community needs to remind itself, that its not about value/price, its about decentralization, saftey, security of one's investment, Government never wants to adopt this system because of this reason only - security of investment, safeguarding the investors.

Again Pum/Dump is fine, I am aware of the syetem. But just one mistake, one unaware move left all the community people in distress.

THANKS

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24 comments
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High yield, high risk. People focus on the desirable side and ignore the risks are real and unrelenting.

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Hm in pump and dump we almost forget the negative part that can happen. It's a rollercoaster ride, i mean who will pay attention on anything negative, they will just ride and have joy

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i think this is one of the best things that could happen in crypto. Being greedy and only caring about money has consequences. I'm glad people starting to realize it should be consequences for their poor choices. What about choose better projects that help humanity and maybe the space won't have such problems. So if you guys only interested in gambling it should be a space of only gamblers losing their money.. Well deserved

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It's not tough to learn about cryptos these days, even binance last month offered free cryptos in return of completion of half hour courses on various tokens. I wish people pay attention to learning as well

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Well stats suggest that the average person spends about 5 minutes online per site..So it's alot of information and people have very little time. So that's why projects like bitcoin myk are easier.. Why try to have people understand a difficult area when you can create them like bitcoin myk with familiar looking social media sites that integrate the cryptocurrency in. That's how you do it. You don't have people learn this tech and science at a level the average person can't understand that's kinda stupid

This is why i know bitcoin myk will be a great success as the tech developers can't even relate to the average person so they go create all this crazy stuff

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Veteran here. Just for the record: I have never seen anything in LUNA so I'm not affected or surprised.

And to be clear about the others. The couns/tokens without utility will fall eventually. Like the early internet when new tech allowed interesting and even profitable projects to emerge from nothing, just to fade away later in masses when they became useless/boring.

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A friend’s brother had $20k in luna Before the dip, now the guy is close to running crazy. I feel for him, and hope he doesn’t see it as end of the road for him.

I can’t just imagine how many more would this have affected. The numbers of suicide would likely increase.

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Yes. It's really sad to see how things are turning out after this mammoth downfall

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This situation has affected many people negatively and it is very sad indeed. People learned very painfully what risk is. It is very difficult to understand how to make such a mistake. Thousands of people have paid for the mistake of a few people by losing their money.

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I wish that people get aware but not at the cost of life. It's better to be serious in cryptos on the first hand before entering.

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I absolutely agree with you. We should do a good research without being influenced by anything. Such events can happen to anyone, but we have to manage the risk well.

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This is the chaos legion attack from the world of Splinter, I am sorry about all that has happened but the truth is that once it's owned by someone it is no longer Decentralized, so I always keep my heart on my hand at all time.
Lucky Me but not that lucky for some

😥

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Fallen has a story to say and we lucky have a moment to acknowledge

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Lesson here is no matter how promising a project is (was), STAY DIVERSIFIED.

Leverage is also what got people in trouble over and over.

Some people may have gotten rich quickly, and only temporary.

Never go all in.

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