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Started By
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re: Official CryptoTalk Thread
Posted on 5/9/22 at 6:17 pm to TigerDeBaiter
Posted on 5/9/22 at 6:17 pm to TigerDeBaiter
When do we buy? Lol
2
Posted on 5/9/22 at 6:38 pm to Hulkklogan
quote:Rai will fail too if it gets enough volume.
I know people like UST/Luna because of the returns, but honestly it seems really unsustainable. Anytime there's a big dip in the market, a billionaire fund has to dump tons of money to keep the peg.
I wish the entire crypto space would move to using $RAI as a stablecoin. It's the first crypto-native decentralized stablecoin, only backed by ETH. It's an algorithmic token so it comes with risks, but it generally holds its peg really well and auto-corrects if peg fails. It's not pegged to USD, but to itself (more or less)
UST will likely return to peg, but it might take a few days. One of the issues currently with algo stables is that they can’t adequately keep the peg on centralized exchanges and swap sites. During all of this, UST was still at peg on chain LINK, but was obviously depegged on the centralized exchanges and eth swap sites. It becomes a liquidity issue on those sites which is why the billionaires have to keep propping it up.
And once that depeg happens on the exchanges, fud spreads and it exacerbates the issue there, causing the drops we’ve seen with Luna and UST.
And I don’t know what would actually fix this issue besides all trades being made on chain, which I don’t see happening
This post was edited on 5/9/22 at 6:43 pm
Posted on 5/9/22 at 7:05 pm to RJSambola
UST/LUNA in a death spiral. Don’t touch it until you see signs that it will actually survive this
Posted on 5/9/22 at 7:05 pm to RJSambola
Idk. shite is getting wild all over the board. Liquidity drying up fast I think all over the board
Posted on 5/9/22 at 7:15 pm to TigerDeBaiter
This is simply amazing to watch for a “top ten” coin to implode like this. What a scam
Posted on 5/9/22 at 7:15 pm to TigerTatorTots
Too late for me. I am just arbing where I can.
Posted on 5/9/22 at 7:20 pm to OneMoreTime
Thanks for that explanation 
Posted on 5/9/22 at 7:20 pm to TigerDeBaiter
quote:
This is simply amazing to watch for a “top ten” coin to implode like this. What a scam
Luna's not a big part of my portfolio but yeah, this hurts to watch.
Posted on 5/9/22 at 7:21 pm to LordSaintly
Man I picked up more Algo, BTC, ETH, SOL, and DASH today thinking it would bounce and it is all down even more 
Posted on 5/9/22 at 7:24 pm to tduecen
I feel like this is a good as time as any to try and work towards any positions I found myself wishing I had at top…. and then just stop checking the ole folio for a while
This post was edited on 5/9/22 at 7:42 pm
Posted on 5/9/22 at 7:28 pm to tduecen
The whole idea of this stuff really is just a ponzi. Just be honest about it.
Posted on 5/9/22 at 7:30 pm to Ross
Time to delete the apps and check back in 3 years, see where everything is
Posted on 5/9/22 at 7:31 pm to Ross
Hello Ross!
Look like BTC is about to test it's 52 week low of $28,893...... It's $1000 from that.
Look like BTC is about to test it's 52 week low of $28,893...... It's $1000 from that.
Posted on 5/9/22 at 7:36 pm to Jjdoc
there have been better weeks in this space no doubt
This post was edited on 5/9/22 at 7:48 pm
Posted on 5/9/22 at 7:50 pm to tduecen
Just keep up DCA and dont look lol
Posted on 5/9/22 at 8:39 pm to TigerTatorTots
quote:
UST/LUNA in a death spiral. Don’t touch it until you see signs that it will actually survive this
I’m in for $500 @ $36 and a limit for $250 @ $20 if it hits.
I’ve done way dumber things with money.
Posted on 5/9/22 at 9:05 pm to slackster
I feel sorry for anyone who followed Rockets advice on Luna. hE SuRe ShOwEd uS
Posted on 5/9/22 at 9:06 pm to TigerTatorTots
In ust with some size. it's been a long day. Got some into eth at .98
Posted on 5/9/22 at 9:32 pm to down time
Buying in BTC incrementally at these levels.
Posted on 5/9/22 at 9:38 pm to James11111
quote:
BTC won’t go below 33 in this bear market
Welp.
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