Current Events > Uh, looking at that subreddit for Luna is depressing

(+) Yeah! (+)

Whats even more depressing is how people dumped money into crypto. Literally everything they had and more. But theyre not investing, theyre just gambling hoping to get rich quick. that one dude bought in 2million dollars and its now 1000 bucks

should have done the smart thing and invest everything into beanie babies

look at this

https://www.ebay.com/itm/264575916785?hash=item3d99f41af1:g:3iUAAOSwBLlU6PQK

i didn't really follow luna since i only transact in the ethereum ecosystem and only really invest and build in the middleware space these days.

riding out 2018-2019, i watched far too many ambitious new projects emerge and die paintful deaths, bringing their investors to financial ruin, and so i've traditionally regarded ambitious and untested new concepts with skepticism and shied from trying to pick winners in the smart contract platform wars.

from what i've gathered about luna, it was a disaster waiting to happen. never mind the luna token going to absolute zero, the worse tragedy was that its poor engineering decisions and undercollateralization adversely affecting its native stablecoin, so this fiasco effectively screwed not just speculative luna buyers but also more risk-averse ust holders. a number of analysts called it ahead of time, even describing the very scenario that played out, but the project's lead arrogantly dismissed the warnings and insulted the analysts.

despite all the idealists in this space sincerely trying to create a better system, the sector also attracts a lot of terrible people.

this is good for luna

That entire subreddit is FILLED with suicide posts and suicide help lines. It's pretty fucking sad. Even if I think those people are complete morons for buying all in on crypto, still feel bad for them.

TheMikh posted...

sincerely trying to create a better system

the only sincere thing about crypto is the desire to make money on someone else's expense

Kaiganeer posted...

the only sincere thing about crypto is the desire to make money on someone else's expense

This can be said about literally anything in capitalism lol

Is crypto even worth something now?

Kaiganeer posted...

the only sincere thing about crypto is the desire to make money on someone else's expense

i take it you haven't truly explored the space then.

Yeah, I checked it out earlier, damn was that depressing.

Tons of suicidal people, failed suicide attempts, people losing their lives and shit.

Reddit and gambling is a horrendous combo. Especially if you're in the company of those kinds of people who think 'consumed by greed' is a cool personality and speak the cult language. It'd be good if more was done to assert that this is the true nature of it. Insincere is probably the best word for it.

Darkprince35 posted...

one dude bought in 2million dollars and its now 1000 bucks

This one's more bewildering. How do you even get into such a strange position. A cry for help? A fully evolved crypto scumbag?