Even if it *was* someone dumping a ton at once to crash everything, the fact that it was vulnerable to such a simple attack means it shouldn’t be trusted
This one was sad because unlike Bitconnect which everyone and their grandmothers were saying was a Ponzi scheme, people were talking about Luna like it had unique fundamentals/utility.
Buddy lost 150k. Hits pretty close to home. Hard to take this lightly when it's a friend that's literally changed tunes about what retirement looks like. He still looks like he was visited like a ghost.
@@thephilosopher7173 there should be a way to track some wallets at least. i don't know. even much much smaller schemes are traceable but as far as i kno, still there is not a single theory which includes blockchain proofs of what really happened. i dont get it.
The funny thing about calling it "digital toilet paper" is that that's actually overvaluing the thing at this point. You can't even use it as toilet paper, it's digital.
Crypto in general seems to have burst the bubble and hard. I am glad this happened because, hopefully, now people will pay close attention to the red flags around many of these "projects" and make smart choices that don't involve putting the house or life savings all in a pump and dump
you can do it in normal market to, capitalism its just a shit the same bilionar and organizazion cas do everything everymoment lenan brothers remember? its all shit, capitalism my friend
As to the "Don't taunt the internet, Don't taunt billionaires" thing, I would broaden it to something like..."There are already so many fucking things that can go wrong and ruin you, even if you aren't running a ponzi scheme. The last thing you need to do is INCREASE the number of things that can go wrong. Never be so arrogant you add failure modes." It's idiotic. Even in the best case, where only some crazy black swan event could possibly cause you to fail and you are utterly confident...don't fucking antagonize black swans?!
Aw man you’re right, yea all this shit happened but the most important thing is how it impacted so many people. People always say “only invest what you can lose” but a human mindset only learns that after living through it
Yupp. LUNA buyers were rarely red in the entire existence of the coin. Probably felt more and more confident and started dumping way too much of their savings into it.
But I feel like our society is screaming at these people "This is an obvious scam, this is going to fall apart". It's much harder to be sympathetic when not only were they tricked, but they were tricked after everyone warned them they are about to be tricked.
The other ones were the ones who attacked him and the coin, devaluating it on purpose. The guy you quoted just had a big ego. So why are you blaming him like he was a criminal, when it was the other two attacking him and the currency on purpose tanking it and destroying the investment of whoever was into that coin? They're the ones who are criminals
Because the dollar and Euro aren't represented by a single moron, their value is backed by a country's assets instead of hype, and the World Bank + IMF will shitstomp you if you try to play clever boy cause a crash
I kept looking at the Anchor Protocol but the "this is too good to be true" kept going off and I fortunately chose against investing in anything of luna. My condolences to those that lost everything.
I did the same thing. I've been on their website probably over a dozen times and have seriously considered putting in a pretty good chunk of money. But it always seemed too good to be true and sure enough, it was.
@@yagop8719 Good call. To paraphrase Patrick Boyle on that: If you have something that is 2-3 times the APY of the market it should at least have 2-3 times the risk of the market. Something that's 2-3 times more risky than the market would be pretty much the opposite of 100% stable.
@@yagop8719 people come and come with that fact, but nobody of you realize that every bank does similar things to attract clients - until they lower the rewards, the same as Anchor would have done over the years, lowering the interest until sustainable.
but Luna was not embedded with backing from any country's government as a form of exchange, all crypto is purely speculative even almighty bitcoin ,its absurd to think crypto is real
3. Specifically, don't taunt 4chan and the like. Also, there should be a "Do Kwon rule" that should make people in charge of big bucks to STFU as a required business policy.
Zilla, your video was name-dropped on another two channels I'm subbed to, Phil DeFranco and Internet Today! It's awesome to see your content get recognized!
What's sad is there are people who will see this and think: "Sounds good dont invest in Terra Lab coins" when the real lesson is in investing in things you don't understand.
The really odd thing is that LUNA was doing the exact same thing as other failed projects and died in a similar way without ANYONE talking about this before it happened.
People were talking about it over 6 months ago on twitter. You can see it in video. Nevertheless, old saying is still true. When something sounds too good to be true, then it is.
you obviously didn't do any research. They have constantly been talking about Luna's pending demise. This isn't the first "coin" of its type to go down like this. Won't be the last.
Obviously, new generation stablecoins (called algorithimic stablecoins) didn't like having to back their value with real USD.... and so they are riskier and prone to collapse.
Now that he mentions how George Soros broke the British Pound, it would be interesting to get videos on financial events like that from the past up till now.
Checkout the youtube video: George Soros - Reflexivity Explained by Patrick Boyle. Patrick Boyle has been on Coffeezilla's channel before as a guest interviewee so you can probably trust his explanation.
@@moshunit96 yes exactly what they did they used their house as collateral which is extremely risky. It’s a all or nothing move. Unfortunately I can see why it could drive you to suicide which is super super sad but it’s reality 😓
I am not a tech person but I have worked all my career in software development and Tech and I can say this: I love all my Devs and Tech friends but I would never give them control of a company, they all generally have the softskils of a bag of concrete.
This is why people don't make money jumping into investing though. From an outsider looking in it might seem like crypto is dying but this is nothing compared to the past. Take advantage of these prices while you can (don't buy Luna obv) whether it's crypto or not and reap the profits later
@@casualtake1497 Well the team at Luna won't force you to pay your taxes in their currency and put you in a cage if you decline. So its a bit different..but yes both are fiat.
The leading theory is he had direct access to the reserved money keeping the coin 'stable' and sold them to a massive player. He didnt lose, he pulled a massive rug pull. The reason he ignored flaws in his code, is because he was aware of them, they were there on purpose to allow the rug pull.
I put Ockham's razor against it: Everyone in Cryptoverse knows Do's face, unlike the typical rug-puller. His spendings will be monitored closely by a lot of people. And he has a baby girl now. If you want to disappear, it's nearly inevitable that you remain anonymous and don't have family.
They've officially "shutdown" the Terra blockchain as well. Besides the insane amount of faith that turned into losses in the community, this story is fascinating!
I never understood why people thought this kind of currency was ever a good idea? Crypto and NFT's both seems like such flimsy investments. Like a house of cards. Hard to build up and it only takes one jerk to turn on a fan to mess everything up. I always have and always will see them both as scams.
I'm not even into crypto (I straight up just don't get it lmao), but I'm getting secondhand hand-wringing from this whole situation, my heart goes out to the folks who had their savings wrapped up in all of this.
@@andrewg.. nope, I've just realized I'm also a fucking idiot, and lost a lot of my own money on stupid shit. I can only imagine the despair they must be feeling right now. I haven't lost thousands at once, let alone millions, but it still sucks.
if there stupid enough to put all they have into one thing they deserve to lose it all, you should never be more than 10% of your networth in any one thing EVER
The power of a lambo. You could park a million bucks in dividend returning portfolio and not have to work a day in your life ever again. But no.. fucking lambo (nobody cares the car you drive, seriously)
I've always been so impressed with your videos and I've always largely agreed with everything you've put out. Congratulations on 1 million subscribers. You've earned it. It's sad to see people actually people making decisions that are final. I hope that the crypto scammers, pumpers, and fabricators are held liable. Profiting on other losing their lives. This is unacceptable.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
Ever since I lost my job with the ministry, I have been surviving through my investment with her, am so glad I invested when I did. I’m earring $25k weekly with her
In addition to Black Wednesday, this also reminds me of Silver Thursday when the Hunt Bros. cornered the silver market in early 1980. The silver priced mooned from $6 in 1979 to $49 in Jan. 1980, then crashed 50% in 4 days. By 1982 it had dropped 90% to $4.90.
If you bought into Luna any time over the last 5 months (Basically when it was always above $50) then hopefully you only bought $1 worth of Luna. That way you can now buy $9 of Luna and get a fantastic 'dollar-cost average' :D
@@kellyschafer8873 I mean, if I only put in a couple dollars, then I would just add a couple more. But it someone has put more than like $200 in, maybe don't bother.
@Samir Dončić ROFL no its not it was 3 percent backed until they drained all the liquidity. They have drained 7Billion out of their coffers in the last 2 days, so now they're about 1 percent backed. Tether is the biggest scam out there
It all comes back to the good ol' "Don't gamble with money you can't lose" Crypto is unregulated gambling, plain and simple. I do feel bad about the people that have lost everything but at the same time, it is kind of a stupid tax to put it very harshly. Hopefully they will learn from their mistakes and realize if something seems too good to be true, it ALWAYS is. There is no shortcut to wealth unless you are a hot girl or your daddy is rich.
seriously. i feel bad if someone follows all the fundamentals and still loses money, but even then, its reeeeallly hard to lose your retirement savings/house if you properly diversify and dont overinvest. these people yolo'd in without doing what EVERY SMART INVESTOR DOES: ask themselves what would happen if all that money vanished instantly
or start a cult/religion/"spiritual guidance course. There's also selling books that about being wealthy by plagiarizing/parrot everthing that's already been written/said.
Same here, i will praise mr Ardella Resseguietl over and over again because he has great skills, i started with $2000 and after 2week i received a returns of $6,000 then i continue with him ever since he has been delivering.
@Matt Willson Making $ 80,450 weekly trading profit with him, I only trust Mr Ardella Resseguietl with my investments. am now able to send my kids to great schools in LA, all thanks to Mr Ardella
Yes, Ardella is the best. He is the only one I can leave my investment with and think less about it, he is my money maker. I just received $130,000 of my stock investment last month. I am very happy because he is leading me to financial freedom
Here’s another lesson with Luna. Don’t put all your money in one thing! Diversify! If your into Crypto that’s fine but also put money into individual stocks, index funds, real estate, cash, treasuries etc.
My best three learning lessons from LUNA: 1) don’t invest what you’re not willing and/or able to lose 2) don’t put it all in one basket 3) follow the first two steps
Even in regards to naked Ponzi schemes which UST was, you'll always have them in some degree. No matter what regulations you have in place, there'll always be some "This is different!" approach which will slip by.
I know people are labeling it a conspiracy but it absolutely looks like there was an intentional attack on the project. Who exactly, and why? That's where I believe the actual conspiracy is. Big banks? Big brother? Competitors? It's anyone's guess at the moment. But everything is pointing towards this being done with intent.
MANY MANY More people invest in and have lost money with Luna, yet this video won't get HALF as many views as the SafeMoon video did...Wait didn't they just inject millions of that supposed "lost liquidity"? Huh weird
In the end I cant really have that much compassion to the losers in cryptocurrencies. Went in to 100% speculative market in the hopes of making an easy buck selling to people who hope to make an easy buck when the markets are made up. Cryptocurrency doesnt even work as an currency. Just another day Ponzieing i guess. In my day we used to buy bitcoin to order "stuff" from the internet so it had some utility as an currency but now there is 5816 different coins that cant buy sh*t except other coins which are just as worthless. CryptoCurrency should really remove the Currency part from their name.
"All it took was one market downturn to turn this golden token into digital toilet paper" ...On the bright side, there's now something to wipe digital butts with in the Metaverse.
You need to make a video on how to make 6 figures monthly because I have read about investors making up to $650,000 within 5 months and I really want to know how to outperform the market and make a significant profit
Hilariously, there was a crypto crash last year, almost *TO THE DAY.* A currency market that reliably, annually, drops by half its value... *Funny that!* No, but seriously, I'm not sticking any of my money in crypto unless this changes. What an unreliable investment.
What I’m sort of taking from this was the guy Do Kwon was arrogant about his utility in them coins & than started taunting the wrong people so they systematically crashed it ? Correct me if I’m wrong but is the utility of these coins still valuable but they’ve just pissed off the 1% ? Maybe the guy just needs to clean up his attitude towards his investors & also take the knowledge from others that see a mistake in their contract. Like a bug bounty ?
@@NicholasMarshall that’s what I’m asking. Is the utility of these coins still valuable ? I understand that there’s been a major loan put out to short them ? 100k Bitcoin sized loan? Correct me on whatever I’m wrong. Genuinely curious.
“I put money I didn’t have and leveraged my house on something that I thought I could get rich quick on, and lost my ass” Yeah… casino rules. Don’t bet more than you can afford to lose. /Facepalm
One of the investment platforms I use began offering UST at a higher interest rate than the other stable coins, while also lowering the interest rate of the other stable coins. I'm so happy I didn't jump in.
Even if it *was* someone dumping a ton at once to crash everything, the fact that it was vulnerable to such a simple attack means it shouldn’t be trusted
Truth be told all money could have been destroyed that way. The difference is just in scale.
@@yudistiraliem135 if only someone. Could help make sure this doesn't happen. You know someone to regulate....
@@shadow_td 🤣🤣🤣
@@shadow_td The Bogdanoff?
turns out it was SBF that crashed the coin.
This one was sad because unlike Bitconnect which everyone and their grandmothers were saying was a Ponzi scheme, people were talking about Luna like it had unique fundamentals/utility.
Ayy lmao
Well it did
@@TrkJustin yup, uniquely absurd 20%
all crypto is a scam
@@SavageGreywolf how
Never watched this guys videos before. Easy to see why he’s popular. His game is tight. Luna info is solid. No time wasted on nonsense. Well done sir.
coffee is the boss
Who are you?
The ghost of Christmas past 🎄
Lmao that’s literally me just now
No u
As always: Don't gamble what you can't afford to lose.
No no no...DONT GAMBLE..Add up the numbers on the roulette wheel
It's not gamble
It's an investment!
/s
@@tomlxyz investing is gambling
Screw that, leverage your house on fairy money.
@@TheRealBooper the " /s " in his comment means 'end sarcasm'
This video made the price of Luna look high! From $0.88 now down to $0.01
0.002...
Less than a penny now ....
. 001 now
He said 88 dollars not 88 cents 🍻
@@Pazaluz 0.0014 :)) now
The line "the trust that algorithmic stablecoins require" is beyond hilarious, given how often crypto people talk about "trustless systems".
It's almost as if trustless economics don't work, otherwise they wouldn't have recreated the Federal Reserve
Who the hell talks about trustless systems
@ShotoTodoroki-kb6id It's a pretty common talking point about cryptocurrency. It's almost completely untrue, but I've heard it plenty from proponents.
Buddy lost 150k. Hits pretty close to home. Hard to take this lightly when it's a friend that's literally changed tunes about what retirement looks like. He still looks like he was visited like a ghost.
He'll be fine. Live long and prosper
@♜ Pìnned by Coffeezillà I wonder if these boys really scam ppl?
Its his own fault. He deserves it and knows it
Scammers exploit a persons greed...
Your buddy made a bad move.
Do Kwon said "95% [of coins] are going to die, but there's also entertainment in watching [them] die too."
Today, his coin is down 99%.
Actually its down around 99.9945% :)
And he must be entertained. Ppl can laugh at him, but unfortunately ppl like him have already made their money long before the collapse.
@@thephilosopher7173 there should be a way to track some wallets at least. i don't know. even much much smaller schemes are traceable but as far as i kno, still there is not a single theory which includes blockchain proofs of what really happened. i dont get it.
😂😂😂😂
@@almalm3397 what? blockchain is public you can go watch every transaction and wallets
Calling your critics "poor" is hilarious 🤣
Literal cult mentality here
@Mr T name calling people who criticize you is a hallmark of cultish communities
@@suezuccati304 you're right! These cult members are too lost in their fog to realize they're the cult.
@@cryptoking7093 honestly, if someone tells you to never talk to someone who's criticising them, that is a huuuuge red flag.
@@suezuccati304 It's funny because it's absurd.
The funny thing about calling it "digital toilet paper" is that that's actually overvaluing the thing at this point. You can't even use it as toilet paper, it's digital.
Also toilet paper could become valuable if panic buying happens again!
Sell it as NFTs....
But I could buy toilet paper with it, right now. Although I'd be using 100x more than usual, unfortunately.
Nice burn, hahahaha
@@englishwithkristin8962 Time to buy some toilet paper stocks.
Crypto in general seems to have burst the bubble and hard. I am glad this happened because, hopefully, now people will pay close attention to the red flags around many of these "projects" and make smart choices that don't involve putting the house or life savings all in a pump and dump
Some will but most won’t history loves to repeat itself and retail frenzy and moon boy mentality will come back with the next bull market
They won’t
We won’t
lol
you can do it in normal market to, capitalism its just a shit the same bilionar and organizazion cas do everything everymoment lenan brothers remember? its all shit, capitalism my friend
This is probably the best content I've seen in a long time. Coffeezilla is crushing it...dude should have way more subs.
"Don't ever taunt the Internet" - Coffezilla 2022. Truer words have never been spoken
Coffee's Luna coverage is better media than the Moonfall movie
lies. That movie was peak
Peak comedy
That's not a very high bar to beat.
Coffee's LUNA Coverage is more factual than the supposed real Moon Landing(s)
Let all crypto fall and burn, send your money to the moon and never get it back you idiots, hahahahaha
As to the "Don't taunt the internet, Don't taunt billionaires" thing, I would broaden it to something like..."There are already so many fucking things that can go wrong and ruin you, even if you aren't running a ponzi scheme. The last thing you need to do is INCREASE the number of things that can go wrong. Never be so arrogant you add failure modes."
It's idiotic. Even in the best case, where only some crazy black swan event could possibly cause you to fail and you are utterly confident...don't fucking antagonize black swans?!
Aw man you’re right, yea all this shit happened but the most important thing is how it impacted so many people. People always say “only invest what you can lose” but a human mindset only learns that after living through it
Everyone is smart now
Yupp. LUNA buyers were rarely red in the entire existence of the coin. Probably felt more and more confident and started dumping way too much of their savings into it.
yeah good use of the phrase "living through it" since some can even learn even if their role was just being an observer on such an event
Real shit
But I feel like our society is screaming at these people "This is an obvious scam, this is going to fall apart". It's much harder to be sympathetic when not only were they tricked, but they were tricked after everyone warned them they are about to be tricked.
Crypto Bros are having a very bad not so good under average week
Spot on Patterrz, I hope all our Crypto Bros are doing ok!
Don't assume their gender. Easily could be crypto bitches.
"I'm straight up not having a good time"
NFT bros moreso
Finance Bros* Literally everything is falling.
The sad reality is that Do Kwon will walk away with immense amounts of wealth and be on his way like nothing ever happened
unless, yknow, someone kills him
Well you gotta have a plan B. Anyways George Gammon called this USTs collapse a year before it happened.
That’s called a pro gamer move
Survival of the smartest
The other ones were the ones who attacked him and the coin, devaluating it on purpose. The guy you quoted just had a big ego. So why are you blaming him like he was a criminal, when it was the other two attacking him and the currency on purpose tanking it and destroying the investment of whoever was into that coin? They're the ones who are criminals
Turns out that cash is still a better stable coin lol
No surprises with cash lol
Because the dollar and Euro aren't represented by a single moron, their value is backed by a country's assets instead of hype, and the World Bank + IMF will shitstomp you if you try to play clever boy cause a crash
Even chocolate gold coins and poker chips are better stable coins than this...
@@Emma-zc5jm Nope, it continually loses it's value at a predictable rate.
And it’s the biggest scam of all.
I kept looking at the Anchor Protocol but the "this is too good to be true" kept going off and I fortunately chose against investing in anything of luna. My condolences to those that lost everything.
Anchor Avax and others will soon follow..all modern Ponzi schemes
I did the same thing. I've been on their website probably over a dozen times and have seriously considered putting in a pretty good chunk of money. But it always seemed too good to be true and sure enough, it was.
20% of APY was just not right at all.
@@yagop8719 Good call. To paraphrase Patrick Boyle on that: If you have something that is 2-3 times the APY of the market it should at least have 2-3 times the risk of the market. Something that's 2-3 times more risky than the market would be pretty much the opposite of 100% stable.
@@yagop8719 people come and come with that fact, but nobody of you realize that every bank does similar things to attract clients - until they lower the rewards, the same as Anchor would have done over the years, lowering the interest until sustainable.
This is why I refuse to leave money in crypto. This is every argument I've ever made coming to fruition.
Luna showed us 100 years worth of the historical effect that inflation has on fiat currency, in two days.
but Luna was not embedded with backing from any country's government as a form of exchange, all crypto is purely speculative even almighty bitcoin ,its absurd to think crypto is real
At least fiat currency has helped moving more people from poverty in the last century than ever before.
It showed us what happens to beanie babies after people lose interest.
@@marcingaladyk and now equity is wiped out? Would people not rather know how much they own rather than something so volatile?
Yup, food case study
Keep posting daily on this. Your coverage is better than anyone else's.
Rather not, actually.
They have arrested him 😂😂
3. Specifically, don't taunt 4chan and the like.
Also, there should be a "Do Kwon rule" that should make people in charge of big bucks to STFU as a required business policy.
would have to include elon and trvmp
@@superwavess I thought of that right when I was writing the comment. You have a point.
No, no it's good that they talk. Because then the idiots can expose themselves
True, it blows my mind that today we have people in charge of billions just shitposting on twitter
@@superwavess Don't you mean the Elongated Twerp
Zilla, your video was name-dropped on another two channels I'm subbed to, Phil DeFranco and Internet Today! It's awesome to see your content get recognized!
"Can you imagine the ARROGANCE..."
It's the crypto space, arrogance and despair are the only two emotions it knows.
What's sad is there are people who will see this and think: "Sounds good dont invest in Terra Lab coins" when the real lesson is in investing in things you don't understand.
The really odd thing is that LUNA was doing the exact same thing as other failed projects and died in a similar way without ANYONE talking about this before it happened.
There’s videos a month ago talking about it
@@klisa-mariehenry5994 Which one? I want to look at it
People were talking about it over 6 months ago on twitter. You can see it in video.
Nevertheless, old saying is still true. When something sounds too good to be true, then it is.
you obviously didn't do any research. They have constantly been talking about Luna's pending demise. This isn't the first "coin" of its type to go down like this. Won't be the last.
Lot's of people brought it up. Maybe you weren't watching the right people.
I like the term “stable coin”. What does stable mean in this context? That you can instantly lose all money invested?
Reminds me of stable genius
✍👆👆Invest now the market is affordable and profitable strategies ·
✍️✍️✍️❣️
It's a reference to how stable coins are like stables, full of horse shit.
Obviously, new generation stablecoins (called algorithimic stablecoins) didn't like having to back their value with real USD.... and so they are riskier and prone to collapse.
every currency becomes stable at 0.00$ at some point. so its only matter of time.
Whoever that GCR guy is- he’s a hero 💪🏼
Now that he mentions how George Soros broke the British Pound, it would be interesting to get videos on financial events like that from the past up till now.
Checkout the youtube video: George Soros - Reflexivity Explained by Patrick Boyle. Patrick Boyle has been on Coffeezilla's channel before as a guest interviewee so you can probably trust his explanation.
Silver Thursday, when the Hunt Bros. cornered the silver market in 1980.
There are plenty of books you can read on these events.
Business Casual would be the kind of channel you're after. It's not longer an active channel but the vids are all still there.
Black Monday orchestrated by DTCC biggest bank you never heard of lol. Literal market test.
Tip 4: Never put your entire house into one coin.
Not even sure what he means. Did the person mortgage their house and invest the money? Did they use the house as collateral?
@@moshunit96 yes exactly what they did they used their house as collateral which is extremely risky. It’s a all or nothing move. Unfortunately I can see why it could drive you to suicide which is super super sad but it’s reality 😓
I wish I had a house to mortgage
I'm starting to view coins with words like Safe, Stable, Moon, Lunar etc in exactly the same way as news with the word Truth
Dude, you are so informative and entertaining. Great work!
The genius that is KSI turned 2.8m of children’s money into $1000
No, he didn't. He turned $2.8m of real money into less than $1.
@@Nightwishmaster he means that he got that 2.8m from children
That’s why I sold all my Cardano. Hoskinsons attitude towards critics was similar to that of the Luna guy’s
I am not a tech person but I have worked all my career in software development and Tech and I can say this: I love all my Devs and Tech friends but I would never give them control of a company, they all generally have the softskils of a bag of concrete.
Who would have thought an asset class which depends solely on confidence would start to collapse when confidence collapses....smh.
Almost like tech stocks… oh wait
Lol😂
This is why people don't make money jumping into investing though. From an outsider looking in it might seem like crypto is dying but this is nothing compared to the past. Take advantage of these prices while you can (don't buy Luna obv) whether it's crypto or not and reap the profits later
Doesn't difference mush from US dollar lol
@@casualtake1497 Well the team at Luna won't force you to pay your taxes in their currency and put you in a cage if you decline. So its a bit different..but yes both are fiat.
Snapping my fingers as coffee spits the jazz. Nice
The leading theory is he had direct access to the reserved money keeping the coin 'stable' and sold them to a massive player.
He didnt lose, he pulled a massive rug pull.
The reason he ignored flaws in his code, is because he was aware of them, they were there on purpose to allow the rug pull.
I don't knkw the fundamentals of this cryptocurrency, but this seems like the most obvious thing. The chart screams rugpull. Time will tell.
the chart looks like a rugpull, but the algorithm rugpulled itself because it cant handle the sell pressure. Zimbabwe hyperinflation incident
Thats just from the citadel theory lol, no proof yet
@@dans2971 Are you saying he was not operating with candOUR?
I put Ockham's razor against it: Everyone in Cryptoverse knows Do's face, unlike the typical rug-puller. His spendings will be monitored closely by a lot of people. And he has a baby girl now.
If you want to disappear, it's nearly inevitable that you remain anonymous and don't have family.
They've officially "shutdown" the Terra blockchain as well. Besides the insane amount of faith that turned into losses in the community, this story is fascinating!
@Bajenga
tf you on about?
I think that it has been patched and restarted.
Decentralized protocol of course, like all VC coins..
@Bajenga you lost some money id bet. literally bot comments everywhere and you still somehow picked one that clearly isn't.
People are still thinking its going to $10 lmao talk about drinking the Kool anlid
I never understood why people thought this kind of currency was ever a good idea? Crypto and NFT's both seems like such flimsy investments. Like a house of cards. Hard to build up and it only takes one jerk to turn on a fan to mess everything up. I always have and always will see them both as scams.
I just found this channel and love the style of it
Pro-tip: if the creator of the coin is getting into bets about how their coin is doing, You should probably back out.
I'm not even into crypto (I straight up just don't get it lmao), but I'm getting secondhand hand-wringing from this whole situation, my heart goes out to the folks who had their savings wrapped up in all of this.
You have a good heart
@@andrewg.. nope, I've just realized I'm also a fucking idiot, and lost a lot of my own money on stupid shit. I can only imagine the despair they must be feeling right now. I haven't lost thousands at once, let alone millions, but it still sucks.
if there stupid enough to put all they have into one thing they deserve to lose it all, you should never be more than 10% of your networth in any one thing EVER
What those people did was 100% criminal, devaluating the currency on purpose
@@MybeautifulandamazingPrincess
Yea this is why i only buy into 3 coins, bitcoin, eth and cardano im not interested in any other coin or hype.
man, i felt so sad selling my luna around 80$, now i feel like a genius :D
You're going to feel even worse when you lose all your gambling money next time ^^
Dodged that bullet
@@LoveToSpootch Your comment is gold. If I had $1 mil I would bet he will get wiped out in 1 yr max.
The power of a lambo. You could park a million bucks in dividend returning portfolio and not have to work a day in your life ever again.
But no.. fucking lambo (nobody cares the car you drive, seriously)
Take some off the table because you're going lose it all gambling like that.
I've always been so impressed with your videos and I've always largely agreed with everything you've put out. Congratulations on 1 million subscribers. You've earned it.
It's sad to see people actually people making decisions that are final. I hope that the crypto scammers, pumpers, and fabricators are held liable. Profiting on other losing their lives. This is unacceptable.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
I truly agree with you on that,
Mrs Kamilla helped me recovered all I've lost trading by myself
Ever since I lost my job with the ministry, I have been surviving through my investment with her, am so glad I invested when I did. I’m earring $25k weekly with her
Investment is that tiny line that separates the rich from the poor.
Her successful stories are everywhere
"stable coins" only make sense with an audited 1 to 1 store of the underlying currency... Which makes all existing "stable" coins not so stable.
Except usdc
@@alexs858 and busd
@@alexs858 Yee, that’s what I’m betting on.
Somehow UST goes down before USDT, now that’s a mess
USDC and USDT are both audited. USDC is 1:1 backed by cash dollars.
In addition to Black Wednesday, this also reminds me of Silver Thursday when the Hunt Bros. cornered the silver market in early 1980. The silver priced mooned from $6 in 1979 to $49 in Jan. 1980, then crashed 50% in 4 days. By 1982 it had dropped 90% to $4.90.
The silver price collapsed because the government went after the hunt brothers. Not allowing buy orders and increasing the paper backing.
It reminds me when the Duke Brothers tried to corner the orange futures market and got burned by former employee Louis Winthorpe
yea but those bros moved 90% of silver in da world to 1 country. Germany or swissland or finland.
dont remember
@@Football__Junkie Mortimer, we're back!
Exactly. There are a lot of people who are completely unaware of the silver market manipulation. Gold and Silver are anti fiat currency.
I love coffeezilla videos. The ultimate internet detective
If you bought into Luna any time over the last 5 months (Basically when it was always above $50) then hopefully you only bought $1 worth of Luna. That way you can now buy $9 of Luna and get a fantastic 'dollar-cost average' :D
that's about all you can do at this point
@@kellyschafer8873 I mean, if I only put in a couple dollars, then I would just add a couple more. But it someone has put more than like $200 in, maybe don't bother.
Rip
problem is you're telling some guy "Don't" when his name is "Do"
bro you are damn good at telling stories. I could listen whole day to your voice.
Who wants an unstable.. stable coin. 😆
Oh there's lots of bagHODLers out there.
@Samir Dončić ROFL no its not it was 3 percent backed until they drained all the liquidity. They have drained 7Billion out of their coffers in the last 2 days, so now they're about 1 percent backed. Tether is the biggest scam out there
Congrats on a mill subs coffee been here since like 200k
The Luna blockchain was halted about an hour ago. RIP Luna
It all comes back to the good ol' "Don't gamble with money you can't lose" Crypto is unregulated gambling, plain and simple. I do feel bad about the people that have lost everything but at the same time, it is kind of a stupid tax to put it very harshly. Hopefully they will learn from their mistakes and realize if something seems too good to be true, it ALWAYS is. There is no shortcut to wealth unless you are a hot girl or your daddy is rich.
Or if you sell drugs
seriously. i feel bad if someone follows all the fundamentals and still loses money, but even then, its reeeeallly hard to lose your retirement savings/house if you properly diversify and dont overinvest. these people yolo'd in without doing what EVERY SMART INVESTOR DOES: ask themselves what would happen if all that money vanished instantly
@@TracyA123 Or enter politics...
@@theotherohlourdespadua1131 😂
or start a cult/religion/"spiritual guidance course. There's also selling books that about being wealthy by plagiarizing/parrot everthing that's already been written/said.
Earning 70,000 Canadian dollars weekly on stock,nft, crypto and forex
Believe me, mr Ardella Resseguietl is the best, his trading skills are top notch
Same here, i will praise mr Ardella Resseguietl over and over again because he has great skills, i started with $2000 and after 2week i received a returns of $6,000 then i continue with him ever since he has been delivering.
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Heard a lot of investing with Mr Ardella Resseguietl and how good he is, please how safe are the profit?
Yes, Ardella is the best. He is the only one I can leave my investment with and think less about it, he is my money maker. I just received $130,000 of my stock investment last month. I am very happy because he is leading me to financial freedom
It wasn’t a taunt, it was his invitation to escape blame bro..
I swear to god it was all Rick, I’m not to blame here!
Here’s another lesson with Luna. Don’t put all your money in one thing! Diversify! If your into Crypto that’s fine but also put money into individual stocks, index funds, real estate, cash, treasuries etc.
I appreciate your coverage, Coffee. As someone who's been living under a rock, is great to hear what's going on from a reliy source
My best three learning lessons from LUNA:
1) don’t invest what you’re not willing and/or able to lose
2) don’t put it all in one basket
3) follow the first two steps
4) don't involve yourself in unregulated imaginary money.
use stop losses. there were sell signals at 75,43,22
Stable coin is not stable.
7) If it sounds too good to be true, it probably is.
@@DeepDivesWithUsMeh not everyone can handle it
Gotta be honest, I just clicked because the dude in the thumbnail is exactly my type
The Big question we keep asking “How does this keep happening”
Greed.
hopium
Gambling is also fun.
Even in regards to naked Ponzi schemes which UST was, you'll always have them in some degree. No matter what regulations you have in place, there'll always be some "This is different!" approach which will slip by.
Empty promises. Literally. People really get attached to hopium that their gonna make it
You catch onto news quick, produce great content quickly and your videos are very informative.
Very entertaining sheet coffee keep it up!!
Imagine how sad it would be if UST$ and LUNA’s demise was actually caused by Do Kwon’s arrogance and thus big players wanted to destroy him.
That’s exactly what looks like happened
I know people are labeling it a conspiracy but it absolutely looks like there was an intentional attack on the project. Who exactly, and why? That's where I believe the actual conspiracy is. Big banks? Big brother? Competitors? It's anyone's guess at the moment. But everything is pointing towards this being done with intent.
Probably expedited luna/ust failure before getting even bigger, which is a good thing. It was inevitably going to happen at some point.
@@akashamedia671 nah, everything crashed. All crypto and the entire stock market.
AI god has to be Elon Musk 😂😂 he hate the sec as well
Coffee once again here when we need him
What??? Tulips are actually worthless??? Why didn't anyone say so???
I hope to never be the subject of one of coffeezilla’s vids…
Today I smile at my smug coworker that say I'm stupid .. now at least I'm stupid with money.
Great analyses. Your team is awesome!
Thanks Coffee, I learned a valuable lesson. If I’m going to TELL my investors to short my ponzi coin, I need to make sure to be an asshole about it 😂
Love this channel your going to be rich very soon with your quality content
One of your fairest and most balanced videos. Thank you brother.
I just think back to 2013 when I presented at school about cryptocurrency... I revisited my presentation and literally nothing has changed lol
Cap, no def didn't do any presentation
MANY MANY More people invest in and have lost money with Luna, yet this video won't get HALF as many views as the SafeMoon video did...Wait didn't they just inject millions of that supposed "lost liquidity"? Huh weird
Comeuppance is such a beautiful thing. Only made bitter by the number of small investors who lost everything. Pitchforks and torches time!
In the end I cant really have that much compassion to the losers in cryptocurrencies.
Went in to 100% speculative market in the hopes of making an easy buck selling to people who hope to make an easy buck when the markets are made up. Cryptocurrency doesnt even work as an currency.
Just another day Ponzieing i guess.
In my day we used to buy bitcoin to order "stuff" from the internet so it had some utility as an currency but now there is 5816 different coins that cant buy sh*t except other coins which are just as worthless.
CryptoCurrency should really remove the Currency part from their name.
This is a level of ruinous pride that would make Greek mythology blush.
"All it took was one market downturn to turn this golden token into digital toilet paper"
...On the bright side, there's now something to wipe digital butts with in the Metaverse.
You forgot rule 3, if you buy a Ponzi token, NEVER lock the tokens in the protocol
the best reporter ever 😍 big fat respect 👏🏼
You need to make a video on how to make 6 figures monthly because I have read about investors making up to $650,000 within 5 months and I really want to know how to outperform the market and make a significant profit
This requires adequate research and good marketing deadlines
@Kate23 Ortiz
who is your financial coach, do you mind hooking me up?
@Kate23 Ortiz damn congrats. how long did it take to go from 46k to 120k?
Fake bs
I was going to comment about KSI’s losses, man absolutely played himself 😭
Great delivery vid 👍🏻
Hilariously, there was a crypto crash last year, almost *TO THE DAY.*
A currency market that reliably, annually, drops by half its value... *Funny that!*
No, but seriously, I'm not sticking any of my money in crypto unless this changes. What an unreliable investment.
I'll give it a few more years just to see how reliably it crashes, then one day I'll short the fuck out of it
How crypto collapsed: “it was always all a ponzi but when they got rid of decentralization and anonymity, there was not even novelty.”
please don't count me out coffeezilla, i literally put my address on my internet, fought people, came back from the dead. i am the one.
What I’m sort of taking from this was the guy Do Kwon was arrogant about his utility in them coins & than started taunting the wrong people so they systematically crashed it ? Correct me if I’m wrong but is the utility of these coins still valuable but they’ve just pissed off the 1% ? Maybe the guy just needs to clean up his attitude towards his investors & also take the knowledge from others that see a mistake in their contract. Like a bug bounty ?
*hit me up *👆🏻👆🏻✍🏻✍🏻*.’*
Sounds like it, he dug his grave but he is still rich asf. Only the investors lost
What utility?
What this incident demonstrates is that crypto exists at the whim of billionaires.
That's not a trustworthy system.
@@NicholasMarshall that’s what I’m asking. Is the utility of these coins still valuable ? I understand that there’s been a major loan put out to short them ? 100k Bitcoin sized loan? Correct me on whatever I’m wrong. Genuinely curious.
Buy the dip?
Plz coffee i love the vids make longer ones!
“I put money I didn’t have and leveraged my house on something that I thought I could get rich quick on, and lost my ass”
Yeah… casino rules.
Don’t bet more than you can afford to lose.
/Facepalm
Yeah these stories sound 100% identical to my parents' stories during dot com bubble. Everyone knew someone who bet the farm and lost it all.
Luna went to the Moon... during daylight
To the MOON!🚀
There should be the 4-th "don't" at the end. "Don't throw all of your savings into crypto"
The UK is in talks about legislation of crypto currency, so that might have a nock on effect to the rest of crypto.
*hit me up *👆🏻👆🏻✍🏻✍🏻*.’*
They want to create their own right?
Can you even deny that we need it at this point?
One of the investment platforms I use began offering UST at a higher interest rate than the other stable coins, while also lowering the interest rate of the other stable coins. I'm so happy I didn't jump in.