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Epic Pennant on BTC Chart


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42 minutes ago, xrp-nuke said:

Want join 0.06 club?

Did anyone notice that @Eric123 does not use MCAD anymore 🥺

He's too busy claiming if he had the money he'd be buying at this price 

Apparently he never has money, and every price is a good price to buy

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Well guys the price keeps falling but we've been here before.  Looking on the bright side.  Hashrate is still high above 200 E/hs for 19 days straight .  Adoption continues.  I'd be averaging in,  Red days are the best days to buy.

On 5/7/2022 at 1:02 AM, Nat99 said:

how low do you think it can go?

I think there is strong support around the .52 if that breaks there is also strong support around   

5 9 2022.png

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Question for the people on the forum. Did the UST and Lunar crash cause this BTC dump???  Is anyone buying Lunar now??? Thoughts??? -Thanks

 

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8 minutes ago, dtpace said:

Question for the people on the forum. Did the UST and Lunar crash cause this BTC dump???  Is anyone buying Lunar now??? Thoughts??? -Thanks

 

I tried to jump on luna when it was $1.50 but wasnt able to get it quick enough.  If I can get some at around $2 I will.

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3 hours ago, Eric123 said:

I tried to jump on luna when it was $1.50 but wasnt able to get it quick enough.  If I can get some at around $2 I will.

Are yous seriously considering buying this?

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Posted (edited)

I jumped into Luna at about 85 cents this morning with $1000 just to dip my toe in. It quickly ramped to 7 plus dollars and I was up $7200. I got greedy because the momentum felt extreme and then the bottom dropped out... pulled out with $1000 profit. Getting back in now... fingers crossed. 

Edited by Pterolycus
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14 minutes ago, Nat99 said:

Are yous seriously considering buying this?

Me personally, I would throw money I know that I am comfortable in losing. Luna and UST could very well go to 0... Low risk, high reward.  To each his/her own money.

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11 minutes ago, brianwalden said:

For you guys who bought the LUNA dip, might be time to take profits. Terra is voting to open the floodgates to burn as much UST as possible (which means minting a ton of LUNA) to get back to the peg. This will crush the price of LUNA in the short term.

Some people, like Westie above (who I respect), think it's better to abandon UST and try to preserve Terra (and therefore LUNA) as just a smart contract chain. I think doing everything possible to get back to peg is the right call - that's Terra's foundational reason for existing. As a blockchain Terra isn't the fastest or the cheapest or the easiest to build on. Everything on Terra is built around issuing stablecoins, without that there's no reason to use it rather than some other Cosmos chain or Avalanche or whatever.

Step one is to restore the peg. Then figure out how to fix the flaws that have been exposed. Then try to slowly build back from there - if they're able to do so, it will be a very long road.

The danger, whether they choose to try to preserve UST at the expense of LUNA or preserve LUNA at the expense of UST. Is that they will fail and both coins will go to zero, completing the death spiral. This is a very real danger.

FYI

posted main forum for a respected member @brianwalden

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Its crippling

While the SEC sued Ripple to protect the old slow system(s) they and everyone else watched a stablecoin and its collateral luna grow out of nowhere right into the top 10 

A stablecoin which is backed by btc, I mean seriously? WTF

The systemic risk was written on the wall since the beginning and no one ever cared to stop guys like kwon - who has put the whole market in this kind of a damage loop right now - before his scam became too big. Because a lot of people made money on it. 

It has become a multi billion dollar fraud and now it blows off --  Luna needs to sell BTC which increases the sell preassure on the whole market and drives the price further down to a point where it could trigger large holders like microstrategy to liquidate - possibly driving the price down to 10k?! (wasnt Luna one of the biggest BTC holders recently due to UST growing that fast?)

This is why this market needs regulation, exactly this situation is what the SEC should have protected us from. They didnt - but they will use it as excuse to bolster their way of regulating by enforcement and they will keep on hunting the utility projects to protect their friends at JPM, BTC, ETH, Wallstreet while scams are free to thrive!

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