Thai crypto exchanges suspend LUNA and UST trading after major meltdown

[Sparktrader]

3 minutes ago, OneMoreFarang said:

And what do they now? Invest more money in more crypto because sure it will go up again?

Sell their car to buy food

[NativeBob]

why do ppl call this "investment" while its a plain vanilla "gambling"?!

I've been watching "the death spiral" of that LUNA coin, last year it was kee-coin DOGE and everybody were looking at SNL for Mask's prophecy.

That UST peg was a hoax, but deeper - where are those backup reserves that support USDT?

And the main question: if folks lost money than who gained and where are the those dollars now?

 

North Korea? Nigeria? 2 US hedging funds? Putin? Singaporean dude who wrote that <deleted> algo?

[Sparktrader]

3 hours ago, NativeBob said:

why do ppl call this "investment" while its a plain vanilla "gambling"?!

I've been watching "the death spiral" of that LUNA coin, last year it was kee-coin DOGE and everybody were looking at SNL for Mask's prophecy.

That UST peg was a hoax, but deeper - where are those backup reserves that support USDT?

And the main question: if folks lost money than who gained and where are the those dollars now?

 

North Korea? Nigeria? 2 US hedging funds? Putin? Singaporean dude who wrote that <deleted> algo?

Luna always looked strange to me

[Iamfalang]

but this was FREE money.  Get rich quick!!!  No work, make bank.  

 

retire early.  never work.  live your dream life.  early bird gets the billions.

 

OMG.....Has this sucker play ever happened before in the history of the Universe??

 

every day.  If you lost money on the 0101001010101010 shell game, you likely will be buying air on Mars soon.  Then you will buy water on the Sun.  You will invest everything in green  eggs on Jupiter.....and so on and so on and so on...

[Hummin]

12 hours ago, ukrules said:

Many of the 1000's of 'crypto' projects are absolute and complete garbage.

 

But not all of them.

Its all about trust and also speculations, nothing else. 

 

7 hours ago, mvdf said:

Main reason was I never invested or dabbled in altcoins. Was always a bitcoiner from the very start and will remain this way. These "alternative" coins are fraught with risks ("rug pull" scams) and danger (liquidity issues).

 

Will hold on to my BTC until the market recovers, no matter how long it takes.  ????

 

 

How much did you pay for your coins? 

[ukrules]

5 hours ago, Sparktrader said:

Maybe 50 are good

Rest junk

That's being very generous suggesting that 50 of them are good.

[Heng]

Lucked out by not being interested in it in the beginning.    It's still being traded though.   Binance put it back on with its BUSD yesterday evening.  

[GrandPapillon]

when anyone can basically create a new crypto, you know the game is going to be flooded with "scams" and loser proposition

 

you have to be mad to put money into that kind of "market"

 

but people are dumb, so to be expected ????

 

Edited May 14, 2022 by GrandPapillon

[pomchop]

PT Barnum pegged crytpto long ago.  There's a sucker born every minute.

[Lemsta69]

9 hours ago, Heng said:

Lucked out by not being interested in it in the beginning.    It's still being traded though.   Binance put it back on with its BUSD yesterday evening.  

and at one point it was 9.75x up. savvy investors and people who are in on the pump and dump groups have been making an absolute killing on crypto. literally millions of dollars from nothing.

 

tbh I'm neither of the two, all my gains have been through pure dumb luck. but at least I don't present myself as some kind of know-it-all like the haters on here. if they're so damn clever why didn't they ape into and out of say, SHIB and DOGE at the right time. then they'd be shouting us all Dom Perignon at a rooftop bar somewhere instead of whining about the price increase on a bottle of Beer Chaaang ????

[Airalee]

I know a handful of people who did well in crypto.  Some buying as early as 2012 at $5 and selling for large profits well before it hit $1000..  Others bought at $3k and sold around $50k.

 

What is the common denominator of all these people?

 

After getting out, they were out for good.

 

I also knew someone who was pumping money into Bitcoin early 2021 and was lending it out in high interest schemes that made no mathematical, logical nor investment sense.  Haven’t seen him in over a year.  I wonder how he’s doing now.

Edited May 14, 2022 by Airalee

[mvdf]

19 hours ago, Hummin said:

Its all about trust and also speculations, nothing else. 

 

How much did you pay for your coins? 

That was 11 years ago. I vaguely remember PayPal-ing someone in the US less than $100 for 50 BTC. 

 

https://www.blockchain.com/btc/address/1MfZT1TaUVTRcejr2gJcpbDrN43PDELcjP

[Heng]

9 hours ago, Lemsta69 said:

and at one point it was 9.75x up. savvy investors and people who are in on the pump and dump groups have been making an absolute killing on crypto. literally millions of dollars from nothing.

 

tbh I'm neither of the two, all my gains have been through pure dumb luck. but at least I don't present myself as some kind of know-it-all like the haters on here. if they're so damn clever why didn't they ape into and out of say, SHIB and DOGE at the right time. then they'd be shouting us all Dom Perignon at a rooftop bar somewhere instead of whining about the price increase on a bottle of Beer Chaaang ????

Just IMO but I think a lot of the haters (on this forum anyway) don't have anything against cryptos per se.   It's just the old adage of 'people love successful people but not successful neighbors.'  Being the most 'handsome man' in the restaurant/bar/market/Makro is 'my' thing.   

[Lemsta69]

10 minutes ago, Heng said:

Just IMO but I think a lot of the haters (on this forum anyway) don't have anything against cryptos per se.   It's just the old adage of 'people love successful people but not successful neighbors.'  Being the most 'handsome man' in the restaurant/bar/market/Makro is 'my' thing.   

I use the term 'hater' kind of loosely but there's definitely a few in here that are anti-crypto purely for the sake of. some of them readily state that they don't understand even the basics but continue to put the boot in. it's rather tiresome but that's TVF for you ????