"Stable Coin" Luna trading at 6,900 = $1.00

I am truly saddened for the families and companies (and countries) that invested in this crap.

Crypto for dummies:

  1. Take in dollars
  2. Spend some on electricity and overhead
  3. Try to convince people that what is left over is worth a dollar or more.

----> What could possibly go wrong? <----

It is still trading. That screen shot comes from a trading website the numbers actually change every time someone buys more.

Buy low sell high I guess.

It’s up 300% to 22 ten millionths!

Up 315% now!!
Damn I shoulda bought!!

Screenshot 2022-05-14 3.59.58 AM

This should be on the news. Luna is a great investment at these levels!

They should be going wall to all on Fox News!

Hey while you and I were discussing this some guy made $315% on his money.

Maybe he’ll throw a party LOL.

Of course, when the price of an investible asset goes

  • from -95% since open
  • to +315% since open it’s not exactly a stabil coin now is it?


I bet some pretty “risky” stuff. (The real risk is that I day trade, the “stuff” I bet on is not the risk), but even I won’t touch Luna.

The thing is Luna now has to sell its assets
so does every crypto company whose coin values dropped. (The other companies did not go to zero, they will sell a lot less.)

  1. All that selling pressure will make the bear market worse.
  2. A lot of their assets are other crypto currencies which could cause a spiral.

Hmm. This is from today’s (Saturday’s) Wall Street Journal.

Any chance it could impact the price of crypto currencies on Monday?

Here’s hoping and praying for all crypto to die a painful death. :+1:

They are etfs and should be treated as such.

Only difference is the people at the top of the crypto etfs touted their etfs by hyping the possibility that they might one day become “like currency.” So they are etfs with untrustworthy leadership.

I got come great tulip bulbs I can sell ya.

1 Like

I do love me some random tulips/marigolds/sunflowers around the yards. I’d trade you a few pounds of meat for a dozen or two bulbs. Now that’s real money, there. :wink:

1 Like

One of the world’s first investment bubbles was the Dutch Tulip bulb bubble in the mid 1600s. College professors like to use for instructional purposes because few people have a political opinion on it or any preconceived notions about it at all.

1 Like