Game Over for UST and LUNA...

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Hi HODLers,

The bleeding is over... $LUNA and $UST died today... They will go into the Crypto Pop Culture as previous failed projects: ETH DAO, Bitconnect, etc...

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The market has acted that these coins are dead and therefore is even moving on over the past 2-3 hours.

I am truly for those that lost their life savings and I have heard terrible things with some even considering taking their lives...

You will get better, financially and mentally.

We are going to face heavy regulatory pressure as I tweeted recently.
The FED has been waiting for this to exploit the public opinion against cryptocurrencies.

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UST Price Chart

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LUNA Price Chart

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I have never see a coin go to 0 in 3 days. Not to mention a Top10 one... Crazy Algorithm I guess.

Stay safe out there, it is a crazy world...

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24 comments
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Yes. It is super scary and crazy. A lot of people lost a lot of money over the past few days...

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That is crazy. I can't imagine people putting life savings and thinking this was a "stablecoin"... I hope they recover from it.

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“I have never see a coin go to 0 in 3 days. Not to mention a Top10 one... Crazy Algorithm I guess.”

This is the saddest but most raw thing ever.

RIP.

damn these past few days have been so awesome.

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Well, entertaining when you did not have your lifesavings in LUNA and UST I guess :)...

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I mean... stable coin.. it was advertised as such.. I feel really terrible.. and sad for the ones that got left the bags.

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I too was surprised by what happened. An entire ecosystem crumbled in just a few days. I would never have imagined it.

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I think what happen Luna is a lesson to all,but my heart really goes to those that lost their entire investment,I hope they find the strength to move on.

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Oh my! I'm not surprised to hear of people trying to take their lives because of this scary news, who would have thought that such could happen to a top coin as well 😬 really scary.

My heart goes out to all the LUNA investors that are holding on, stay strong 💪

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Ok, we have just seen the PONZI of this cycle... I hope everything is finish already but there are many DeFi protocols that may suffer now as well since trust has been lost

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Honestly, I would not consider it a PONZI, I thought it could work but it was targeted heavily just before making it (Curve 4 pools was days away) which would have made this attack not possible.
It was programmatically flawed for sure.

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I have never see a coin go to 0 in 3 days. Not to mention a Top10 one... Crazy Algorithm I guess.

I haven't either and it kind of hits home when you see it happen. Do you think this will cause a bunch of people to ask for more cypto/stablecoin regulation?

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The FED has showed in the blog post is already jumping on the opportunity to force stablecoins issuers to have 1$ of FIAT USD in a FED approved bank account.

They do not want any other type of stablecoin, as it would mean less demand for FIAT USD.

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(Edited)

Feeling sorry for the losses of people.
But they should remember that money is not important, what matters is their health.

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True, their health is the most important. But some have put their life saving into this stablecoin. Money for their children and so on...

This does impact their health (at least mental health) tremendously...

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Yep... You are right...
But somehow they have to convince themselves that it's not over for us...

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This is really very sad and has affected people very negatively. For the first time, I watched live, an asset of such great value being trashed. Simple mistakes trashed the whole project.

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Crazy... I feel very bad for users that did not know all the implications of this "stablecoin". I guess now people understand that stablecoins are not equivalent. Some are backed by FIAT, some by algo and some by nothing.

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I've lost good money with LUNA, but I see it as nothing more but a gambling night. Luckily I have Hive and being part of this thing is so relieving.

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Same here, with pocket money, I had done a X2.5 and then I longed this freaking LUNA before understanding exactly how this Stablecoin worked... If I had just spent a few minutes looking at it, I would have shorted it again and made a killing...

Well, DeGens going to Degen right?

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Well that was fast.. glad I missed the boat on buying into that one..

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