I've talked out all my friend of investing in anything other than BTCitcoin.
Good work  Same here. Some of these friends even started warning other friends about shitcoins so that they started switching to BTC. Most guys see the real value of shitcoins, when market dumps. Some of the "top shitcoins" dumped 80-85% this time  I always like to show them how meth went down to about 80$ last bear, so they don't buy that crap for 3000$ ... eth is the worst of all. just think if is goes pos and death spirals like luna/ust which had a 30k btc anchor to keep it stable. I consider eth death sprial wrapped into a lot of btc as one of the biggest threats there is to btc. Once again Btc takes a solid shot and much like honey badger it picks itself back up and shake it off. FU luna/ust + 30kbtc pile of shit. please note the 30k btc refers to the anchor of btc they used to secure the pile of shit they made. |
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Was happend to me with Cryptsy , lesson learned after that from that misstake , because most dont wanted to have a lot of wallets and things on there PC.
I lost money on Cryptsy in 2014, which I never got back I lost money on Bitfinex in 2016, which they did pay back after a few months At least I didn't use Nicehack nicehash paid back all the coin they lost. So i can’t complain about them. |
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I will reword it a bit. :
they make a statement like the one below
“In light of the damage caused by the luna/ust debacle We at eth have decided to postpone the transition from pow to pos until The market stability comes back.
The entire crypto cap has dropped from 2.1 trillion to 1.3 trillion due to the damage caused by luna/ust.
We at eth a responsible organization that truly believes in the synergy of crypto currency as a wholistic group of coins realize that bad actors can rock the boat.
We will assess when the best time to switch to pos has arrived. This means watching and seeing how the entire market survives the idiocy of luna/ust. “
yada yada yada. bla bla bla.
below is my opinion
The down side of a switch to pos and a following super crash.
Out weighs any upside for eth switching to pos.
I see no reason that eth pos is better than luna/ust
and it will very likely do exactly what luna/ust just did.
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I do not know if luna could be rebuilt or not but it will be one of the biggest disasters in crypto history and shows us sometimes how vulnerable Defi could be. May be team could save luna by leaving UST.
Some things don't deserve to be saved. Either something survives on merit or it dies. And Darwin is practically fucking the corpse now. This thing is dead. It's meant to be this way. First post in thread Apr 2 today is May 13. Over 3 billion lost in under 45 days. by luna/ust And if you can find the entire “crypto” cap for April 2 and may 13 I am sure the entire cap dropped over 300 billion. I am going to look for those numbers as it could be 410 billion which would mean the moron caused 10 billion a day to be lost for 41 days. today coinmarketcap says the market is 1.283 trillion my mistake april coinmarketcap was 2.1 trillion so 820 billion drop in 41 days is 20 billion a day. nice job by luna /ust real nice. |
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 Sorry But just wtf…. Feeling dirty wearing my Calvin socks where did you find this? Why are they doing this add? whom does this appeal to ? |
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No merge this year or you also believe in santa claus. The history show it - we speak about PoS since 2016 or 2017 and nothing happens. I know we are closer than ever before, but no not this year  Shadowfork results says otherwise tho. Many devs are confident that we will witness the merge very soon. Unless you have some insider info  I do understand your skeptical outlook tho(their history is tainted when it comes to merge wen). I had my share of doubts too, until I started following the updates more closely. This time we have shadowforks, which is a copy of mainnet itself. And they have merged 4 copies of mainnet till now with a few minor bugs. I am very confident with my findings and conclusion. After the luna ust disasters. pos will be put off for this year. unless eth crashs to sub 1000 usd. If eth floats in the 1800-2500 price range or higher going pos is not happening. they are simply not taking the chance of tanking the market like we just saw with luna ust. if eth moons to 5000-9000 they will likely do nothing. for the same reasons. but if eth crashes to 700 we will see the switch to pos asap. we just saw that a garbage shit coin combo of luna/ust crashed and burned dragging the market with it. eth is not going to do this. they need only wait for a solid price drop to say we will rescue eth and go pos. till then nothing. okay |
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ust = 19 cents. and they keep printing it.
yeah pos = piece of shit.
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if you take a sata cable with 2 sata jacks and run 1 riser with that adapter it should work. just 1 riser.
if you take two separate sata cables and feed that adapter into 1 riser it would surely work.
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We are in May only, plenty of time to nominate something for the Fail of the Year award in Community Award four 2022.
True, plenty of time left but it will have to be spectacular to be bigger fail than this. Then again, knowing how unpredictable crypto market is, nothing is impossible. How come so many people are still so gullible/greedy after all those years of ICO scams and premined shitcoins?
Because there is constant influx of new people, while older ones that went through 2017 ICO boom and are still buying shitcoins like LUNA are nothing but degenerate gamblers.
Theories on what really happened today are popping all over the internet, this is another one I stumbled upon in one Discord group. Dunno if it really makes sense but here it is: Blackrock and Citadel borrowed 100K BTC from Gemini (it appears in their loan book). They swapped 25K of that BTC into UST; this was all done quietly in anticipation of the attack. When the time was right, they called up Do Kwon at Terra Foundation and said they wanted to sell a lot of BTC for UST. As it was a large trade they told him they didn't want to move the market and asked if he would like to buy their large block of BTC at a discount for UST. Do Kwan took the bait. He gave them a huge chunk of UST, thus lowering the UST liquidity significantly.
At that point, Blackrock/Citadel dumped all of the BTC and UST causing massive slippage and triggering a cascade of forced selling in both assets. The real problem was Blackrock/Citadel knew that Anchor, which holds a lot of LUNA, was a Ponzi scheme (they offer 20% staking APY for Christsake) and this crash would trigger more withdrawals than Anchor can repay. These forced withdrawals and selling would trigger a massive selloff in Luna, thus further breaking the $1 peg and wrecking the market further. Blackrock and Citadel can now buy the BTC back cheaply to repay the loan and pocket the difference. Meanwhile, billions of longs and Bitcoin VaR were wiped out.
This was pure market manipulation. No it was deliberate destruction of a ponzi scheme. 20% interest yeah how that work out. I would like to think it is a true story and luna/ust has been killed. |
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LUNA down to $0.02.
It's funny, but I do feel for those who have lost all their money on it. I know it's their fault for buying shitcoins, but the scammers running these things deserve way more blame.
solid never needed more than 1 “stable” coin in the first place. so luna/ust = dead ☠️ |
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If you sell a used machine is consider a sale, righ?
maybe. but you need to determine its cost. that can be complex. |
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40% drop right now would put Bitcoin at $20,000. That's the top of the previous cycle. Bitcoin never fell to the price level of the top of the previous cycle. Of course there's a first time for everything, but purely from the long-term trend, it is unlikely. The bottom of this cycle should be much higher than $20,000 - somewhere at $27-29,000. Maybe it will briefly touch $25,000 if there's some foreseen event that could cause such panic.
well we blew past 26k 25.3k on coin base and a few other exchanges. so a brief touch near 25k is in lets hope that is the bottom. |
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I purchased a bit more.. 3 buys for 27 ,26, 25. I will buy some more over the rest of the dump. We may go under 22k . We finally left the boring 28.k to 69.8k range It lasted from dec 2020 to may 2022 and we really look a lot like 2018. rising diff from jan 2018 to oct 2018 falling price from jan 2018 to oct 2018 Some place I posted those 2 charts. Looks to be a repeat of that after all. To understand why diff rises it is simple a large farm with 8 cent total cost is still in the black even at 26k price for btc Assume 3.3 not 3.01 so 80kwatts a day say 8 cents rent ,breakage,power ,labor that is $6.40 cost a day. 100th is making. 12.23 - 6.40 = 5.83 profit. which works for a big farm. this is with 30k price. at 20k that 100th will do 8.15- 6.40 = 1.75 which is piss poor for a big farm. as they may have paid 7k a unit or more. If they took a loan and are servicing debt 💸 it is very likely they go bankrupt. But you need an extended time at 20k to really crash big farms. look at current diff it is +3% which means big farms are grinding away. https://www.bitrawr.com/difficulty-estimatorLatest Block: 735998 (28 minutes ago) Current Pace: 103.8034% (159 / 153.17 expected, 5.83 ahead)Previous Difficulty: 29794407589312.08 Current Difficulty: 31251101365711.12 Next Difficulty: between 31426821229651 and 32448536370230 Next Difficulty Change: between +0.5623% and +3.8317% Previous Retarget: Yesterday at 7:40 PM (+4.8892%) Next Retarget (earliest): May 24, 2022 at 7:22 AM (in 12d 10h 9m 35s) Next Retarget (latest): May 24, 2022 at 5:48 PM (in 12d 20h 36m 20s) Projected Epoch Length: between 13d 11h 41m 19s and 13d 22h 8m 4s If we are to fully get to a true low based on large farm mining the price needs to be 20k the best news is diff is rising as I type.(+0.08%) It means the big miners are still in the black and are looking to grind this out. I see at least 90 nasty days ahead if the low is end is shortened. and 2 years if we are normal bear. The good thing is we just got our 285kwatt solar array approved and financing is done it will be working around July 1 so our power bill will be close to $0 . This will put us in a better spot than a 4 cent power,rent,labor,breakage cost. per kwatt |
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Assume 3.3 not 3.01 so 80kwatts a day say 8 cents rent ,breakage,power ,labor that is $6.40 cost a day. 100th is making. 12.23 - 6.40 = 5.83 profit. which works for a big farm. this is with 30k price. at 20k that 100th will do 8.15- 6.40 = 1.75 which is piss poor for a big farm. as they may have paid 7k a unit or more. If they took a loan and are servicing debt 💸 it is very likely they go bankrupt. But you need an extended time at 20k to really crash big farms. look at current diff it is +3% which means big farms are grinding away. https://www.bitrawr.com/difficulty-estimatorLatest Block: 735998 (28 minutes ago) Current Pace: 103.8034% (159 / 153.17 expected, 5.83 ahead)Previous Difficulty: 29794407589312.08 Current Difficulty: 31251101365711.12 Next Difficulty: between 31426821229651 and 32448536370230 Next Difficulty Change: between +0.5623% and +3.8317% Previous Retarget: Yesterday at 7:40 PM (+4.8892%) Next Retarget (earliest): May 24, 2022 at 7:22 AM (in 12d 10h 9m 35s) Next Retarget (latest): May 24, 2022 at 5:48 PM (in 12d 20h 36m 20s) Projected Epoch Length: between 13d 11h 41m 19s and 13d 22h 8m 4s |
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I’m thinking this was an attack on bitcoin, not really Luna, but used Luna to attack bitcoin..
Sure they could have shorted UST/Luna and drove it down and made a profit on their short, but isn’t that kind of small potatoes compared to what they could have done shorting Bitcoin at the same time?
I’f they are nefarious actors out to hurt crypto (other than just making a profit), wouldn’t a goal of hurting bitcoin be a better means to that end than going after some stupid shot coin scheme??
I’m thinking, they wanted to tank bitcoin..
Why did they even mess with Luna/UST? Because it was much easier to tank UST, and they did it at just the right time when it was volnerable, and they knew that they would try to prop up UST by SELLING A MASSIVE AMOUNT OF BITCOIN!
Step 1: fast fear flash crash UST.. Get a rally dumping out of fear behind them..
Step 2: Crash Bitcoin with the help of the massive Lunatic Bitcoin dumps trying to scrape up capitol to prop up UST, JUST AS THEY SAID THEY WOULD..
Short Bitcoin, Luna, an UST all the way down..
Prime target.. Bitcoin..
Yep but the real question is how many other attacks with other coins are possible against btc. btw a lot of coins tanked here so I wonder if a few other coins were shorted. Ie doge and ltc and of course as you said btc. If so some serious short money was made. |
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Well I purchased a piece of btc today.
also move a lot of cash from an exchange account to a bank account.
I am thinking
sub 25k for btc
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Who is this lovely figure of a man. A luna-tic? please note I thought photo was nicely sized and kept it that size. |
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Quoting my accountant from my former carreer life: My job is basically to make huge wins of my clients look like huge losses in their account balances.
Basically they can't lose, the fees they charge should more than insure a profit. |
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we got over 31k for a quick minute or two. https://aggr.trade/this volatility will last till that shit coin dies. How many other coins are pegged to btc like that one was. |
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Well lets hope they dump it today. dropping btc to 26k and starting the upward climb to 71k. By the end of may as Proudhon has predicted.
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