LUNA Is Crashing... Here's Why.
1,103,701
Published 2022-05-11
Crypto Critics Corner: / @cryptocriticpod
UPDATE: it's now 5/11/2022 and it looks like LUNA is all but finished.
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This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I think someone who promises $100K/month for an upfront fee of $2K is a scam. Others would call it a Napoleon Hill pitch
All Comments (21)
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since filming this, LUNA has plunged from $40 to $2. Game over. Full post-mortem coming soon.
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Calling it stable was like calling the Titanic unsinkable.
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remember guys, the only time a 20% interest rate exists is when YOU'RE the one paying it
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"De-pegged to 69" is not something I thought I would be hearing in a video about crypto
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The problem with all these stable coins are that they are too stable. Despite our best efforts, they always stabilize to there true value: 0
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Any crypto without an actual usage in the real world will eventually crash to zero.
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"The 20% is only a growth scheme" Isn't that just straight-up admitting it is a ponzi scheme? They're literally saying they can give you high returns by taking new investors' money.
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When he was describing having enough bitcoin to control the crypto markets, that seemed pretty centralized to me. Crypto whales = banks.
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"Which promises a stable return of 20%" I actually spit some of my drink out when you said that deadpan
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Dodged a bullet. Almost bought like 5k back at $100. Ended up selling everything instead, sometimes weak hands wins
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Wow... when you can't even trust stablecoins to fulfill their one purpose, it's hard to have faith in much else in that system...
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“De-pegged all the way down to 69 cents… nice” 😆
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If it feels like a scam, it is a scam!
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Dude, I typed "Luna" in the youtube search bar and had to come and tell you. The amount of scammers trying to fool people into buying is insane.
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Great video, no one else has really even tried to explain it and most news outlets are completely clueless simply talking about Bitcoin dipping below $30k when this is the real big story in crypto at this moment.
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When I first saw this concept it confused me a great deal. What these stablecoins are doing is basically asking to be attacked with a giant billboard. They are promising to spend an unlimited amount of money to maintain something they don't actually control.
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This is one of the most valuable channels on crypto. Your work is incredible. Thank you!
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As a LUNA holder, I was very bummed. Luckily only lost a few hundred dollars and not my life savings like some people.
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Bought at 20, exited at 86 thinking I am giving up on my fav coin and that I will be coming crying back soon enough. How wrong was I
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Loved the interview format and the guest was awesome. Keep em coming
