Help!! I bought Luna when the market dropped significantly. Then last week Luna changed to LUNC (Terra Classic) and stayed very low. I checked the market today to find another ‘LUNA’ now trading with a +745% profit at £8 per coin. Have I been massively conned?
Man for people who lived through that shit it’ll never be forgotten. I stayed up for nearly 4 days straight 3 of which was after the realization it was a total meltdown and became an arbitrageurs dream. Hot potato ended and everyone has had to lick their wounds since. Terra fucked this cycle so hard because not only is the Cosmos SDK a gen 3 chain, but having such a great UX with the stablecoin made it a retail (and institutional 😳) sandpit. Throw in the fact that the stablecoin was knocking heads and Do was too... it didn’t just end abruptly, it was that communities bloodline so much that killing the chain hasn’t made LUNA community right since. Now we have KUJI and a couple of project launching on JUNO. LUNA was and is a cosmwasm chain so IBC can still grow with LUNC and LUNA2
btw, have you ever taken a look at the old r/terraluna sub after the collapse? I was lurking after the collapse out of curiosity but what really surprised me was how people were still shilling Luna after it had crashed to worthlessness. Now the focus is how on the burn for LUNC will pump it to like 1$ even though that's basically impossible.
They do no lending; on chain staking with rates in normal range per their respective blockchains and incur a big enough fee to make it worthwhile for them. You'll get your payouts in whatever you are staking; even if the specific blockchain is an abysmal failure.(Kraken airdropped me promptly during the Luna v2 airdrop, which I was surprised as I purchased LUNC trying to catch a falling knife 😆) Kraken is one of the few CEXs I trust in this regard.
I own 2 meme crypto, DOGE and SHIB. Why? Because I want to diversify my crypto portfolio. If there was a DOW or S&P crypto fund, both of these memes would be in the fund due to their high market caps. We could argue if they deserve to be there or not, but they are both top 15 for now. Unlike an index fund, I can control how much I put into each of my coins and both of these coins together make up 1% of my portfolio. I do not see them "going to the moon" as they now are large cap crypto, but they possibly will outperform BTC, although we shall see if that actually happens. I do not think investing in a meme or two is bad in itself. What I see as "bad" is when investors put everything only into DOGE for example, and risk it all on one coin without diversifying at all. It can pay off if you get in and out at the right time, but it can also ruin you. (think of LUNA now LUNC).....By the way, I also hold some APE as well. Is this considered a meme too? It also is around only .5% of my portfolio. I only invest a larger % in excellent crypto with a strong use case and excellent tokenomics, i.e. QNT, BTC, etc....As far as up and coming meme coins, I have no ideas, but if you decide to take a gamble on Son of DOGE or the next potential meme, keep it a small % of your holdings and look at it as a potential loss or 10x......
DOGE, ICP, SHIB. Been there done that. I try to limit my shitcoins now Keeping LUNC because it's stuck on a dex and I'm hoping everyone will forget about it for the next decade and then something magical happens
1.2% each transaction, not the total supply. Trade 1B LUNC, 1.2% is burned leaving 988M LUNC. Trade that, 1.2% is burned leaving 976.144B LUNC. By the time that, let's call it a "group" of 1B LUNC has been traded 9 times, over 10% of it has been burned. By the time the equivalent of the current supply of 6.574T LUNC has been traded 11 times, 1T of it is burned. For context, that supply has been cycled 8.314 times since 1st May. Also don't discount the community doing manual burns either. I've seen $5k burned a few days ago, $6k burned within the last 24 hours. These are individual transactions. I'll probably be called a LUNAtic for this post, but before I do get called it, I'm actually just pointing out some facts. DYOR and all that. Just never discount what a community can do, especially a community that has been so badly burnt (no pun intended).
Agree with this. Got a lucky run from a YOLO last month when LUNC went from 0.00004 (my YOLO buy in) to 0.00013, USTC doing a similar thing. Some DCA buying on the way up got me an 80% profit, could have sold on 153%. It was a 4 day pump, but those 4 days were an obsession watching the charts most of the day. It was a low 4 figure investment, low 4 figure profit, a nice return. I couldn't imagine how stressful and obsessive it would become to watch a low 4 figure investment breach a 5 figure profit, I mean, I'd like to find out, but those days will be a blur should I ever get lucky like that.
To get rich off BTC you need some combination of the below, but first, let's make a definition of rich. Rich, everyone has a definition of rich, it differs person to person, country to country. Factors such as age would play a part. What would you class as rich? For arguments sake, let's say rich is $2m plus. $500k used to pay for a house, $1.5m used to budget for 50 years giving you an annual budget of $30k. Like I say, everyone's definition is different, but I'd personally say rich is retirement. The above example of $2m would apply to a 30 year old, and that budget is below the $55,628 the Social Security website seems to suggest was the average wage in the US in 2020. So with rich somewhat defined for this, and an example set for $2m for a 30 year old to live comfortably as retired, let's see what things could potentially be required to become rich. 1) High investment We've all seen it. BTC to $100k. Will BTC hit that? Who knows. But in this example, it hits it, doesn't go over, its pretty much $100k then a dump as soon as its hit. Would $1,000 in investment now make you rich at the current price? Absolutely not. You'd maybe pay off some debt, or treat yourself to a nice holiday, or put a deposit down for a car, but sorry, no yacht here. A quick glance at BTC at this moment of writing, it's at $22,971. To get rich from here in our example you'd need to put a high investment in right now. BTC would from this price to 100k would see a 335.33% increase, or a 4.35x increase if you prefer. Now, if we are selling BTC bang on $100k to make $2m, you'd need 20BTC at $100k. Therefore, right now, you'd need to buy 20 BTC. At $22,971, that's about $459,500. If you've got that much just led around waiting to throw on BTC at 30 years old, well done, you've won already, just keep doing what you're doing and don't bother risking that. 2) A mega crash. So, BTC at $22,971 is too expensive to buy 20BTC right now? Well, BTC at this point must be nowhere near its bottom then. How much has the average person got to play with during high inflation and looming global recession? $20k? Well BTC needs to crash to $1,000 to buy 20. Scoff at $20k for an average person? So do I. Let's make it $2k. BTC would need to be annihilated from here and drop to just $100 per BTC. 3) BTC to the moon baybay Let's say the next bull run doesn't start soon, and average Joe is able to DCA during this crab market to the point they've managed to get $4,000 into BTC which has crabbed, peaked and troughed, keeping the average conveniently at $22,971 during the crab before take off. Average Joe now has 0.174 BTC to his name. For that 0.174BTC to make you rich, BTC would have to go to the moon, and by moon, I mean one not in our solar system. 1 whole BTC would have to be worth an unfathomable $11,494,500. That's a 49,939.18% increase. 4) Stupidly high leverage. On Binance, if eligible, you can leverage up to 75x. You'd have to time it perfectly, with very little wiggle room for the price to drop below the bottom from here to $100k. Say, $22,971 is the bottom pre $100k, you'd have to buy in at $6,126.67 at that price and slap a 75x leverage on it. Tempted? Don't be stupid, you'll very likely crash out within moments. 5) Luck Luck is always a factor. Luck that you've bought in at the right moment, Luck you've sold at the right moment. 6) Holding despite the profit When people have made a good profit, and I say good profit in terms of doubling your investment or more, people start to get a bit excited. How many people do you think bought in early at the start of the last bull and made it above 2x, 3x or 5x their money? I'd bet a lot cashed out, I found watching my lucky LUNC run 5 weeks ago stressful and watching the charts became an obsession, and I didn't make 2x, I made an 80% profit, and this was a low 4 figure investment with a low 4 figure profit. If you put in $4,000 tomorrow and next week it was worth $10,000, are you really going to hold tight? What if you hit $50,000? How you feeling then? $100k? $250k? $500k? Do you really feel you'd be able to ride right up to $2m? Or would the stress get to you? You'd be watching those charts like a hawk. You wouldn't want to go to sleep, you wouldn't want to go to work, spend time with the family, etc. You'd be obsessed. Setting a trailing stop would help you relax a little, but then during a dip, you're likely to have been cashed out long before you'd hit the $2m mark. Of course, everything above is just all hypothetical. You'd need a combination of the above to make yourself rich. Luck would be the most important, a solid crash, high investment, a risky but not stupid high level of leverage and a peak way above the $100k mark as well as nerves of steel. All in all, say BTC does hit $100k, there's the potential of a 4.35x increase there. The only ones getting rich from this are the ones who are already rich. Let this post serve as a reality check for some of you. You're not going to retire from BTC on the next bull. Even if the market gets annihilated and you buy in, you're more than likely to cash out way before the meteoric rise gets anywhere near its peak.
Getting rich takes a combination, but not all, of the following: 1) High initial investment. $1,000 on BTC isn't going to make you rich. Say BTC does hit $100k on the next bull cycle, unless it absolutely crashes first, then from the current ~$23k, the increase is 434% there or there abouts. Your $1,000 would be $5,340. A nice return, absolutely, but not rich. You'd need to start off with around $187.5k to hit $1m if we classed $1m as the rich mark. 2) Getting in early on a new project. As the title suggests, you'd need to get in nice and early on a new project, one that ends up taking off and becomes a top 20 crypto from nothing. A $1,000 investment would need this crypto to go on a huge run and increase 1,000x. You'd literally need to buy in at something like $0.01 and it would need to reach $10 for you to make $1m. 3) High leverage You'd need to absolutely time it perfectly where you get in right at the "bottom" from this point to a theoretical $100k peak. Say BTC drops to $20k once more before going to 100k, you'd need to get in right on that 20k. Using Binance as an example on its futures, you'd need to invest $2,500 on a 75x leverage and you'd need to cash out right at the $100k peak. This would be a stupid risk though as you could lose that $2,500 very quickly if the timing is wrong. 4) Luck Probably the biggest one, and one that will always apply. Luck that you've got in at the right time, Luck your chosen projects go on a massive run, Luck that none of your riskier investments collapse. In my mind, there are 3 possible outcomes from a good bull market that sees new ATHs (ignoring those that lose out because they bought on a peak, sold at a trough during a correction and gave up). 1) Life Improving Most people will fall in this category. Profits are made which improves people's lives. No retirement, no "lambo" or anything, but maybe most, if not all debt paid off, or a nice little down payment for a car or mortgage. Think somewhere along the line of $1,000 - $25,000ish 2) Life altering A fair bit of those who finish off in life improving will quite likely hit this point, but choose not to cash out because of greed, FOMO or a HODL mentality. Life altering would be completely repaid debts and no more mortgage. Retirement wouldn't happen, though with no more mortgage repayments, no other debts, your monthly budget would increase significantly. You'd be able to reduce your hours at work, or change jobs to something less demanding and stressful. Think $50,000 - $250,000ish 3) Life changing Few will reach this, and some will fail to cash out here due to greed, "well I've made $1m, the market is still bullish, I'll try for another $100k" then the market changes, HODL as they're just wanting to hit $1m again to cash out. Life changing would mean debts and mortgages are a thing of the past and retirement would be a possibility depending on age and circumstances (I.e. a 55 year old getting $1m would be able to retire on a $33k a year budget for 30 years, but a 20 year old wouldn't be able to retire with $1m as that would leave a $15.3k a year budget for 65 years). Think $1m+ The profits on all 3 categories is obviously just as a very rough example and depends on person to person, age, circumstances, country, etc. Ignoring those that crash out from losses and focusing on those purely making profit, most will make life improving returns, some life altering and few life changing. The chances of becoming a millionaire from a $100 investment is near enough a pipe dream, you'd need incredible luck to get in dead early on a new project that incredibly rockets, or you'd need a shitcoin like LUNC to go to $1 from its current position and you've invested $100 into its current $0.0001 price. The common man is likely to invest 3-4 digits max I would say, which with the "safest" projects, 10x returns from here would be a near unbelievable achievement.
I use a smaller exchange to onboard fiat into crypto before moving it around to other platforms. My smaller exchange is discontinuing a few coins soon. Obviously LUNC & UST are on there but I am also seeing they are getting rid of ONE, EGLD and AMP.
Even if they did buy in some shit coins, it's still not a bad idea to hold if they're already way down. Even the shittiest of coins can get a pump in here and there. Out of all coins, my biggest winners so far has been USTC and LUNC. I made an 80% return out of a YOLO the day before they started their pumps. LUNC was 0.00004 when I bought in, sold at 0.00013. Not saying it will happen, not saying its the best advice or anything. Just showing that even shittiest of shit coins can randomly pump.
A YOLO in June into LUNC and USDC, with some DCAing up during its rally returned me an 80% profit. I never expected to make a big return from a collapsed stable coin and its token, just a "well if it somehow does go up I'm in early", but here we are. Pure luck, nothing else.
They had no shame and were very blatant with LUNA and LUNC trading - especially when they gave the warning and you clicked ok to proceed…. The ne t screen I got was the liquidation notice. They didn’t even bother showing my position - just instant liquidation.
@savethemoon_io $MOON is supporting $LUNC 🔥 📌AUDITED BY PECKSHIELD 📌ONE OF THE TOP LEADING FIRMS IN THE BLOCKCHAIN SECURITY INDUSTRY. #MOON burn 🔥 2% from each transaction and reward holders with 2% in #LUNC https://t.me/savethemoon_io #luncburn #LunaClassicHQ #LUNAtics
Sure: I got in about 3 months ago, everything had started to fall so I’m not holding a huge red bag. I’ve definitely been reading a fair bit but I’m still a noob. So while I’m down (slightly over 30%) I have learned a lot and become more conscious of my choices. I still don’t play on the big boy ones but it’s a stock mentality that I can’t buy an entire BTC or ETH (yea I can buy partials but it’s a mental block) so all mine are alts. I’ve picked and chose, and while most of my portfolio is doge (opinions seem to vary heavily on it hah) I have accumulated a solid chunk of some ones touted here that I researched. Mainly ALGO, Matic and DOT with a Hail Mary on LUNC, but that’s just fun money haha. It’s all just mainly my “quit smoking cash” so that’s a win win. Money I would have spent killing myself now going towards my future. So main thing for me, not super in the red and learned a lot…
Just have 10% of your portfolio be in short positions. As the market drops close some shorts and dollar cost average into your long positions, the bulk of your portfolio. If the market starts getting bullish then sure you've lost a little bit on your shorts but youve more than made to for it with your longs. Then just pick a level - for your short positions. When the market reaches that price and stays above it for let's say seven days you close your short positions and your portfolio is 100% long. Stays below it for seven days? Then open those short positions again. This way it's good for your when the market is bearish AND bullish. I've tried to pick the most worthless (or potentially just valued) cryptos that seems they should have no problems falling in price during a bear market. And hopefully will see less upwards price participation when we eventually transition to a bull market. Though the second bit isn't necessary for this to work. Right now I'm short SHIB, DOGE, APE, LUNC, and WAVES
> Is it becoming a short squeeze? There is your answer. There are still plenty of short traders who are obsessed with shorting both LUNC and USTC down to zero. As long as shorts don't stop, there are always incentives for people to buy to squeeze these shorts. Both will start to lose interest when all the short traders learned to stop after losing more money.
Nothing is better than LUNC, they have inflated the price too much lol, I am not even in able to trust the LUNC and their ecosystem, because we know which is better than other, LUNA was good last year but this time it has failed terrible and became a scam coin
Well, there is money to be made. There are plenty of people thinking LUNC is a scam and should go to zero. So they try to short it heavily. Instead, they often find themselves losing money by getting squeezed instead. Making money is making money. Squeezing shorts is one of the few ways to do it in a bear market. Everyone thinks they are a genius in longs during bull runs. Similarly, everyone thinks they are a genius in shorts during bear markets. You go make money where the fools congregate.
The lower it goes, the more greedier new buyers get. Take a look at LUNC. People are still buying it because they believe they will be millionaires when it gets back to $1. Crypto rekt those who buy high - it benefits those who buy low. The lower it goes, the more interested buyers you get.
I know, I'll be downvoted to oblivion. But, here is what my unpopular opinion... Being sued across the globe, Do Kwon is slowly but surely buying back USTC. Before he appear on any court, there'll be an offer for USTC HODLers to swap it 1:1 with some other stablecoin. LUNC is dead though.
My unpopular opinion(and one that is based on precisely nothing because crypto it’s chaotic neutral) is that someday LUNC/LUNA will go up to some ridiculous amount*** for literally no reason. It will happen when you are sleeping (no matter when that is) and it will have dropped back to zero by the time you wake up. *(***by which I mean 0.01 or 0.10)*