I don't think they attempted to manipulate the whole market. They only focused on their own project but maybe there is a coincidence that happen that the market is also dropping during that time however I heard that luna founders were selling their btc's.
Their protocol has weakness that they did not realize. The attack results in a snowfall effect which they can not stop or handle well. Their solution for it makes it worse rather than resolving anything. It is acceptable if Luna foundation guard sold their BTC in order to back UST. So far no public and transparent report from Terra team about that. The fear is they did something bad with those BTC. Maybe that have contributed a little in the dip. There are still people that will believe on this new token because how many times we see the same people gets scammed over and over again on different shitcoins? Not all are losing millions but on every investments there's always retail investors that will only invest smaller amounts. Their losses wasn't a big deal to them so they will always try again.
Don't expect much about a new token. People who bought LUNA at $1 even in bloodpath. How about people bought it at $80, $50 or $30? They should communicate transparently with community, then ventures can help them with fund to go through this crisis. Buy back and burn need fund and they must to bring belief in ventures that can help them. |
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In early days, the Terra team can handle the crisis better but their early solution to mint more LUNA makes the crisis worse for both UST and LUNA.
I don't know how did they think boosting total supply to the moon like that can help LUNA maintains its price and can help UST. Because of their terrible solution, both tokens went to the south.
The idea from CZ Binance is what we know, buy back and burn. Terra team can do this for long term perspective. If their project is alive, they can spend part of their income to pay for buy back and burn. What they need now is a plan, a transparent accounting on what's going on with their reserve, support from capital ventures to have fund for it. In return, there will be win win for all related parts.
If they can not do it, no future for UST and LUNA.
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Blockchair has a tool to compare blockchain with many information and transaction fee is one of given info. https://blockchair.com/compareWhen you use altcoin blockchain to save transaction fee, you take risk with a weaker blockchain. Bitcoin blockchain is the biggest and safest to use for transaction. Faster and cheaper should not be your priority when you pick a chain to use. https://howmanyconfs.com/ |
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They involved.
You see how Binance did not detect the huge new tokens deposit on their exchange. No matter those tokens from LUNA team or hackers. In addition, if it is true that those token deposit were not detected by Binance, it means there is something wrong with their security and money-laundering protection. It damages their reputation.
Today Binance plays their part to pump LUNA 500 times but after that, CZ tweeted and price fell almost half. Do you see how they play the game?
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We all know about BTC Holding and we all encourage it, and on the other hand we are also happy when we see someone buying a car with BTC. My point is, if we hold btc all the time, where is our profit if it is not used, and if it is just holding without using, how will its value increase?
Taking profit is what you should do. Why do you buy Bitcoin initially? In order to get rich, get profit so let's take profit whenever you see whatever price is good for you. But remember one thing, don't take profit all you have. Always reserve part of your initial Bitcoin to wait for higher price after you take profit and get capital, you are safe. And why are we happy when we see someone buy something from btc?
We should feel happy and congratulate others if they succeed in their lives. If you want to buy necessary things for your life, let's do it. Never mind about reinvest money from your profit. |
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Attention! The attack on the USDT stablecoin has begun. The chances of its success are much less than with the UST stablecoin. But who has open positions with a large margin, be careful
With USDT and their peg mechanism, it can not be depeged if I don't miss anything. The attack on USDT happened many times in the past and law suits against Tether too. I hope that again it is just another fud to dump the market. When market is bearish, fud, hack, law suits, lots of negative news will appear at the same time. |
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Why Axie Infinity’s co-founder thinks play-to-earn games will drive NFT adoption
They have bad concept. Who will provide money source for gamers to play and earn? Sky Marvis, the game, Ventures capitals, exchanges. I hope you see the point. Even if Axie Infinity did not have the $600M hack, their game economy was in trouble already. The rescue from ventures won't save them. The market is against them. I wish best for Axie Infinity and Sky Marvis to survive after the hack and hope them will recover in couple of years. I am realistic here because they will not be able to recover in a few months especially in this bear market and people are all fearful to invest or to play games. |
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Fud attempt.
The market is panic and market makers try to dump all their fud at the same time. From Luna, UST, Bitcoin, Ethereum to Tether USD. They have a massive campaign to fud and dump the market.
It is good to panic newbies who don't understand what is mempool, how to make transaction, how to set fee for their transaction. They panic when their transactions stucked on congested network. I was panic like that years ago when I even did not know why my transaction was stucked for half a day on Bitcoin network.
Bitcoin protocol has difficult retarget each 2016 blocks or about 14 days so waiting transactions in mempool will be confirmed later or will be dropped off mempool and people will have to broadcast their transaction again.
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It is best if you have long term strategic investment and if you can turn off Internet, it is good too.
Sometimes, it is impossible to control emotion so if you connect to the Internet and see price crash, you can not control your fingers. You can also get headache and heart attacks in worst time. I don't want anyone to get health issues because failure in investment but it is what traders and speculators have to carry in their lives.
Bitcoin is good one for investment, deflationary, decentralized and you have your keys to protect your coins. Nobody can seize your bitcoin it they can not have access to your wallet or your account on exchanges; or can freeze your Bitcoin in your wallet (non custodial wallet)
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This night, the maximum dumped in the UST token was 60%. UST is an algorithmic stablecoin. It is not 100% backed by assets.
I know. And they have plan to mint more tokens to support their UST in order to help it re-peg to USD. I don't know what it means if you consider it as minting money (token) from thin air and without assets backed behind. $1200 million will be minted to execute their remedy plan. This melt down of UST and LUNA help people to be enlightened about what is real stable coin. Gold token is a kind of real stable because it is backed by gold bars physically stored in vault. |
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This has been the case, like — since literally forever. But I wouldn't say they're responsible for most of the capitulation. Let's not forget that markets in general have been a total utter shitshow for a while now, and market correlation between BTC and the SPY is at an all-time high.
When the market is grown on speculation, speculators will panic sell when they don't see more future for higher speculation. Worse, capital from speculators might even not come from their own pockets. Liquidation will aim at speculators and clean the market for better future. Price can not increase forever without correction, without liquidation. In ride, you should know price does not simply rise because of buy or demand of investment. Its ride is supported by liquidation, short squeeze too. |
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1. It might take a few more months before BTC's price finally exits the bear market. That is if we have a similar situation to the 2018 bear market where fear and greed levels plateaued for a whole year.
Price will recover strongly with bounces after dumps but to complete and exit the bear market, we must see capitulation from both investors (short term investors) and miners. It's more important with miner capitulation because it will trigger a bear market exit. 2. BTC's price free-fall will slow down between $24K and $27K unless more macroeconomic and geopolitical risks emerge.
Probably it will be a next destination for Bitcoin because the wallet cohort shows that. From $29k to $24k is not too far and I would like to see it happens because it will help the market to clean gamblers and become more healthy. 3. Short-term holders are responsible for most of the capitulation (day trading and scalping don't fall in this category, right?).
Because they are not actually investors or holders. I consider them as speculators. When their speculation goes wrong, they don't have plan B or exchanges don't allow them to go ahead with Plan B or Plan C. Market and exchanges will liquidate their gambling positions. |
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Transaction fee only makes sense for you if you store your coins in non custodial wallets. If you store your coins on exchanges, you won't be able to customize fee rates. Exchanges usually charge very expensive withdrawal fees and they don't mind to change it when fee on networks is cheaper.
They set up a static withdrawal fee and very rarely update it. Usually they only update it if they want to increase withdrawal fee on their platforms.
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Maybe not about the price of a GOLD token, but about the price of gold  The price of gold is good in this chaotic time. Today TerraUSD has been dumped more than 30% on the market. What happened with UST? Is it really a stable coin? Physical gold even moves up on the market last 7 days according to Gold.org. I know Gold has a correction weeks ago but it is still good enough because we don't see -40% or - 60% in gold. |
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I could ones remembered when bitcoin was +$69k and everyone seems to be panicking for the price to get 32k or below. Today we have another chance to buy very low yet people still waiting for the price to drop even more lower.
$32k means 50% down from all time high. It is a point of double bottom too. Therefore, I think that Bitcoin will bounce back strongly from $32k. I want to know when is the best time to buy or waiting more dip to buy and what if the price turns back to bull?
But I don't expect Bitcoin to turn back to bullish. It won't return its trend quickly and we won't see a V shape rally from $32k to $69k. There will be a long time for accumulation in months before the market will be warmed up again before 2024 halving. Because people now are uncertainty about what will happen with Bitcoin, up or down, fall more or rally strongly. From uncertainty, they will response from panic to FOMO with Bitcoin bounce. I expect to see big green and big red candles in next few days around $32k. |
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Why does you posted a different time frame charts of BTC and ETH? If you're using same time frame you'll see the charts are same.  They can have same fractal but they have difference changes in percent. Bitcoin falls will triggers massacre on the market. Ethereum is not an exception and when the market is bleeding, altcoins including Ethereum will suffer worse falls than Bitcoin. Why do you try to stick shitcoins to bitcoin?!!
Whenever bitcoin goes down all shitcoins including ethereum dump much harder. For example in the past 24 hours bitcoin dropped 1.6% while shitcoins like ethereum dumped 4+%.
People think they can earn more with shitcoins than with Bitcoin. They don't know that Bitcoin is the strongest, the best and the leader of crypto market. Not to mention that the long term dumps of shitcoins like ethereum are still massive, in this particular case it has lost more than 60% in the past 4 years consistently going down despite all the short term desperate pumps.
If you look at any other shitcoin, they are behaving similarly. So don't try to separate this particular shitcoin and stick it to bitcoin alone!
Shitcoins have worse performance than top altcoins like Ethereum in bear market. They get their values from hypes so when bear market is in, they lose their values very quickly. |
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Privacy coins just like shit right now except monero. I talk about the reality in the market. Mostly of privacy coins are going down so hard on its price. People have been throwing the privacy coins as they didn't need it again. This is the end for the privacy coin.
Why smaller privacy coin fail or have worse performance than Monero? Because they are forks of Monero and internally their teams have less capability to develop their projects as same as Monero, if don't want to call better than Monero. Forks are usually worse than original coins. Privacy coin can't follow the trend.
So do you call Bitcoin is failed because it does not follow the trend of Smart contract, ICO, IDO, IEO, DeFi, NFT, etc.? Many Bitcoin forks are dead. How Many Bitcoin Forks Are There? You will be surprised!!! |
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Bitcoin is legal tender in two nations so far but from legal tender to deeply integrated in those nations are different. Being legal tender is challenging but being deeply integrated in national operations is more challenging.
Legal tender is a trigger but there are more challenges after that for fully integration nationwide.
Bitcoin can be used as part of national reserves but I don't think it will play as a biggest asset in any national reserve. There are risk with Bitcoin volatility and we know nations don't want to take too much risk with their national reserve. At least they don't accept it and I believe they see more risk of bankruptcy with Bitcoin than with their inflationary fiat or gold.
I don't think we can change government's kind of perspective too soon.
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I think it is for security and safety of GOLD token. It is similar to what exchanges or gambling sites do. They don't store all of their cryptocurrency in one or a few hot wallets. When hot wallet for purchasing or withdrawal of customers/ investors are empty, they will top it up shortly. The max amount for purchasing with each transaction plays a similar role, I think so. |
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