LUNA Is Crashing... Here's Why.
ฝัง
- เผยแพร่เมื่อ 10 พ.ค. 2022
- The world's largest ALGO stablecoin crashed on Sunday, and again on Monday. Will It Recover?
Crypto Critics Corner: / @cryptocriticpod
UPDATE: it's now 5/11/2022 and it looks like LUNA is all but finished.
Follow Coffeezilla:
► Twitter: / coffeebreak_yt
► Instagram: / coffeebreak_yt
🎶 Music: • wake up and smell the ...
Credits:
3D Artist: Ed Leszczynski / ed_leszczynski
Video Editor: Harry Bagg / harryrbagg
Virtual Production Software: Aximmetry aximmetry.com/
This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I think someone who promises $100K/month for an upfront fee of $2K is a scam. Others would call it a Napoleon Hill pitch. - บันเทิง
![How This Man Just Caused a $45 BILLION Crash [Terra Luna]](http://i.ytimg.com/vi/3KZY41SqaTI/mqdefault.jpg)
![BOWKYLION - ส่วนต่าง (do it without me) [Official MV]](http://i.ytimg.com/vi/7x-pwcMopzE/mqdefault.jpg)
since filming this, LUNA has plunged from $40 to $2.
Game over. Full post-mortem coming soon.
Good. :)
It even reached $0.69 today
Just saw that myself....some people are losing their shirts right now💯These gold & silver bars are looking really good right now....people will ALWAYS want gold/silver💯
Indeed, so many people lost their entire bankroll. Sad to see.
Damn! 👀 that’s tuffff
Calling it stable was like calling the Titanic unsinkable.
it has proven to be pretty stable over more than a year
@@Kiba114 untill its not
@@Kiba114 which disproves everything from the last year
TRX is next. crypto banter worst crash ever 19 minute 59 second mark look it up
@@Kiba114 yeah Titanic floated well till crashed with an iceberg!!
"De-pegged to 69" is not something I thought I would be hearing in a video about crypto
Lmao
3:26 actually if you look at the graphic, it de-pegged down to 0.6969
@@MephiticMiasma 697 NOOOOO
Nice!
@@MephiticMiasma Nice
The problem with all these stable coins are that they are too stable. Despite our best efforts, they always stabilize to there true value: 0
Beautiful 👏👏👏
Agreed, this is a beautiful comment
What's the problem? Rich idiots losing money is hilarious.
remember guys, the only time a 20% interest rate exists is when YOU'RE the one paying it
Or unless you create the firm that is lending the money. But even then, the only time you can lend at those rates are when your charge offs are also extremely high, so it ends up netting out (it actually ends up with you losing more money lol)
A 20% rate in USD. In some currencies you can get even better rates.
"The 20% is only a growth scheme" Isn't that just straight-up admitting it is a ponzi scheme? They're literally saying they can give you high returns by taking new investors' money.
Yeah, money doesn't just come from nowhere, it has to come from other people's pockets
@@terris-njw imo, there is a very fine line between most cryptocurrencies and ponzi schemes. Unlike a stock, bond, or other traditional investment, they do not accrew new value by any generation of new value such as a companies' profits. Coin holders are essentially paid the increase from the money others invested, so if an exchange fails, the last ones to pull out will most likley not even get the current value of coin they put in. The only difference is most investors are fully aware most crypto is more risky.
There's a difference between offering 20% to attract new users, and offering 20% because you are attracting new users.
The first is a loss leader, the second is a Ponzi scheme.
Any crypto without an actual usage in the real world will eventually crash to zero.
So basically all of them lol
Didn’t someone just purchase a house using crypto recently?
@@fuccckckkkkckkck Many do that, i buy my cocain with crypto.
@@fuccckckkkkckkck It's extremely rare that someone could actually do that.
i actually bought cannabis seeds with btc hahah
When he was describing having enough bitcoin to control the crypto markets, that seemed pretty centralized to me. Crypto whales = banks.
Having an effect on the price of a market is very different from controlling it, being able to mint new currency etc…
imagine cant differentiate between controlling and impacting market
@@nospecificity7690 Are banks able to print new currency?
@@gilolaes4725 through loans yes they do
@@settyphon9340 mmm...I understand what you're getting at, but leveraging yourself to give money you might not necessarily have at the time is a lot different than minting new currency.
"Which promises a stable return of 20%" I actually spit some of my drink out when you said that deadpan
It says a lot that your only reply is a spambot with the coffezilla logo lol. The whole market feels like a wild west plaza with circus attractions , "interpreneurs" swinging walking canes, trying to sell you the latest snakeoil and around every other corner is a holdup or a pickpoket
Imagine theres some crypto like Drip Network and Piston that offer you 1% daily return on investment:O
Wow... when you can't even trust stablecoins to fulfill their one purpose, it's hard to have faith in much else in that system...
But it has "stable" in its name, how can it go wrong?!?
Hi Richard!
All this mumbling about how stable coins can protect your wealth against inflation is kinda ironic now. Having an algorithm doesn't stop manipulation of a currency, it just empowers unelected and unaccountable whales of a coin.
@@EranHertz "safe" would have been a better name, maybe.
Don’t trust, verify.
Dodged a bullet. Almost bought like 5k back at $100. Ended up selling everything instead, sometimes weak hands wins
Same but I was going to but 3k🧎♂️🧎♂️
And moon boys will say “sell now, cry later” or “paper hands get rekt”.
Same here man. I put about $1000 in and when i got a $3000 return i bailed because we needed the money. If i waited another month i woulda lost everything.
Agree, people always say diamond hands but taking profit on the way or dipping if you don't feel it it's the best option. Imagine investing your life saving and losing all like that.
👏👏👏👏
If it feels like a scam, it is a scam!
“De-pegged all the way down to 69 cents… nice” 😆
Good catch! You must have an especially filthy mind. Haha.
Peg 🤨
30 something even
@@tcritt he literally said it in the video
@@largenuts7090 yes. Hence 'good catch'. What's up? Specially abled?
As a LUNA holder, I was very bummed. Luckily only lost a few hundred dollars and not my life savings like some people.
Same here
'A few hundred dollars' would change my life forever ....
Same, I'm glad to have diversified a bunch
yup, same here
Invest in ADA, and the cardano ecosystem. Djed, is going to be actually backed by something and Cardano actually used peer reviewed research before releasing a billion dollar stablecoin
Great video, no one else has really even tried to explain it and most news outlets are completely clueless simply talking about Bitcoin dipping below $30k when this is the real big story in crypto at this moment.
Well said! I am also here to learn more smart way on short term investment, any idea here?
@@rajeshupadhyay5683
lookup Priscilla Dearmin-Turner, she's now the real investment prodigy since the crash and have help me recovered my loses
A news host spoke so highly of this💕 woman Priscilla Dearmin-Turner and her loss prevention strategies
@@lezliewhicker8450i just lookup her name online and found her accreditation on FINRA and SEC, she seems really solid. I and leave her a mail on her webpage🙏
Paid off $892000 loan within 7 months, all thanks to Madam Priscilla! So happy we are finally onto baby step 4, 5 & 6! Amazing! 🇨🇦
When I first saw this concept it confused me a great deal. What these stablecoins are doing is basically asking to be attacked with a giant billboard. They are promising to spend an unlimited amount of money to maintain something they don't actually control.
This is one of the most valuable channels on crypto. Your work is incredible. Thank you!
7:00 "they've now made it so criticizing Terra and Luna risks destabilizing the larger crypto ecosystem"
That... That is a hostage situation
Not really. Reminds me of Bitconnect 2.0
Many longterm bitcoin holders actually like when the whole market crashes and extended 2 year bear markets specifically because we know that 99% of these projects are scams or pointless and the market needs to clean them out. They can't keep us hostage as we enjoy the bear markets cleaning out the trash , teaching people what really matters and allowing us buying opportunities
Yeeeeep my mind heard that whole impending situation and immediately went to:
"Sooooo, hostage situation with extra steps?"
The deepest pockets control the markets and the poorest have to agree cause what else can they do ? How revolutionary this "decentralized economy" is wow !
@@charlesm.2604 instead of the economy being in the hands of a few unaccountable central bankers, the crypto economy is in the hands of a few unaccountable programmers
Dude, I typed "Luna" in the youtube search bar and had to come and tell you. The amount of scammers trying to fool people into buying is insane.
And looks like your comment is the same too
The only coin I’d ever invest in would be the $Zilla coin, because if coffee were to scam us, The world would cease to exist and everything I believe in would crumble
Lmfaoo
😂
Literally who would be the one to investigate Coffee? 😢
does he really have the $Zilla coin?
@@violetblossom7 it would be funny if he investigated himself🤣🤣🤣
Loved the interview format and the guest was awesome. Keep em coming
Bought at 20, exited at 86 thinking I am giving up on my fav coin and that I will be coming crying back soon enough. How wrong was I
wel played, the only way to guarantee profit is to sell while you are still up. Game of roulette this, hey.
So 20% APR on Anchor protocol seems to be reason why people got into Terra and also why it collapsed
yes and no lol
Man do you know that there was a dinamic rate? They Just find a weak point and Attack..
those 20% return is a equivalent to ponzi scheme and not sustainable. and Luna minting should be over collateralised with multiple crypto assets like its predecessor Dai MakerDao, and auto liquation in its coding
@@dinsilkhannaz7696 this guy gets it
@@dinsilkhannaz7696 Easy Say this now..
During this time, it’s fallen way below 90% so them trying to get it pegged is no longer happening..
Great stuff coffee, this the content I wanna see
my portfolio has lost a decent chunk of money since april what with the economic downturn but people getting wrecked by these shitcoins makes all of my losses and mistakes seem like chump change and honestly kind of helps me keep perspective. I'm really, really glad I learned my lesson with doge and it only cost me a couple hundred at most.
At least with the stock market and mutual funds you can cash out and put your money at the bank in case of a severe bear market like right now. With these cryptocurrencies they can go down so much and so quickly that you have no choice but to hold on to them.
how much did u lose in term of % and how much US$?
@@absolutelypitiful3837 you ever heard of something called stop loss? Ever heard of a bank run? Tell me again how secure your money in your Bank is when literally everyone wants to withdraw some. People seem to forget 2008 lol and how Greek collapse didnt happen.
put a couple hundred into doge the same way you put money into a casino: you'll probably never get the cash back, so don't put in money you're not afraid to lose.
@@absolutelypitiful3837 bull market? Jesus tell us you know nothing about the market without telling us...
Correction: Luna & UST *were* in the top 10 cryptocurrencies
yes. that is exactly why this video was made.
Lol some people will never learn.
Correction: Correction: Luna & UST were in the top 10 scamcurrencies
@@arifhossain9751 I get that... I presume this video was recorded before they actually dropped out because cz used are (present tense)
Not too long there was a theory that terra would go to the same value of BTC, due it being backed by it. This is one case I am glad I didn't buy nto the hype
Sold of my crypto in January because I needed the cash there and then. Guess it was a good decision 🤣
I wish I've sold that worthless crap around that time
I sold in june or july when Btc was around 57 and never looked back, but with current dumps I might get in
it's all started in December before the fed thing i made a good decision cashing all of my crypto and then this happen 😂
@@giorgi7757 Good choice
@Steve Arthur 22k is the lowest it’s going
WOW.....24hrs ago Luna was at like $30....now it’s below $3....🤯Some people are losing A LOT OF MONEY right now! My gold bars & silver are looking pretty stable right now!
enjoy your assets that are manipulated lol
Boomers may be wrong about a lotta things, but atleast they got investments down.
Honestly I might actually need to talk to my grandpa about investing in gold more😂
@@arifhossain9751 Cue the millennials complaining that they cannot afford homes because of high prices, after losing hundreds of thousands in crypto...
@@arifhossain9751 boomers are wrong a lot less than we’d like to admit.
Cryptomancy, the art of shilling a coin that's already dead since it started.
Cryptomancy lol
i think you should coin this word
Apparently Do Kwon was one of the co-founders of Basis Cash, another stablecoin that failed. It's probably worth a look at.
More like K.O. Down now lol
Do Kwon Death
@@dandruff3414 D.K.O.
Do Kwon kept trashing every other crypto & now look at this .-. UST is at .15 cents, terra luna is at less than pennies, he literally lost a ton of good hard working people trying to beat inflation 10s of billions of dollars, and he still has such a huge narcissistic ego, why do psychopaths always run all the big companies
soon Do Kwan will be expert in algorithmic stablecoin and may be able to create the perfect stablecoin, BUT at the expense of his investors blood!!
4:12 he sounds like Elizabeth Holmes lmao
When we needed him most he shows up. Coffeezilla knew he had to jump on this
We need him to break the story BEFORE the crash.
“A wizard is never late. Nor is he early. He arrives precisely when he means to.”
Fr tho I knew it was all cuz of anker protocol but didn’t see this coming. I’m having a field day I’m just buying up all my top 10 coins
Blessed.
@@pilotz2112 he could’ve warned us of this problem in this crypto. But the only ones that are worth looking into are the ones that are BLATANTLY obvious or after the event occurs. This crypto wasn’t on the top of his list of at all. He’s gotta expose celebs and ridiculous scams
So... Decentralised finance, but one massive firm can hold the entire market hostage by purchasing so much of the biggest coin that everyone else has to obey them? Sounds more like a mafia than anything else. And a crappy one at that, if it can be destroyed from within like that.
51% attacks are very common nowadays, and none of these things have any defense against it.
That was literally a plot in Silicon Valley (season 5/6?)
The piped piper network suffered a 51% attack from VCs and China and they nearly lost everything.
Well obviously it didn’t work, so your point is moot.
Then get decentralized insurance and sleep easy.
"Other crypto holders have an incentive to pretend that Luna is still worth something even though it isnt"
So crypto is basically Fiat currencies with extra steps
Would love to work with you. Love the deep research you put in your investigation
Was waiting coffezilla to make a video on this so I can understand what’s going on
Is Coffeezilla algorithmically backed by coffee?
Well caffeine addition would be the inflation of the $zilla stock
Youre on to something
That makes zilla a stablecoin
coffee has performed really well this year
will you buy $ZILLA?
It's weird, I've learned more about Crypto from your videos on the scams, that I realize now I didn't know shit about Crypto.
The only way this whole cycle of scams ends, is when ppl realize the purpose of crypto was to REPLACE the current system, not supplement it by trying to make money. If you're trying to make money from this, and aren't wealthy, you have lost.
Institutions have already adopted certain advanced systems, known as "ISO20022" assets.
Exactly this. This is also why these crashes are necessary to clean out the crap coins, Ponzi stablecoins, and gamblers.
Indeed all of those trash shitcoins will fall its the repeat of the dotcom bubble... Sift through all the trash projects find some gems like i did invest a little bit and just wait a couple years till they rise up from the ashes!
Oh, I lost when I bought Bitcoin at 2000? Please explain how that works.
@@MisterBinx Are you wealthy?
If you are, then what are you talking about. If you're wealthy, this comment isn't talking about you, it literally says:
"If you're trying to make money off of this, *and aren't wealthy* , you've lost."
ahhh man in overalls back with another banger report. truly my cup of coffee
me and my dad were talking about crypto, from the point of it generally being a really bad and unstable investment, literally yesterday and he mentioned how he works with a guy who was claiming he was going to retire by 30 because he had invested heavily in luna, im gonna guess that plan has changed now
If only people would spend some time to learn the difference between Bitcoin and the rest of crypto.
People are so uniformed it's almost comical.
He can still retire... and live on the street!
how old are you and how old is your dad that his co-worker will retire by 30?
I thought this conversation was going to be one of those crypto scam bots.
@@antonykimani3967 why cant his dads co worker be in his 20s, im confused.
the fact that a huge supposedly respected crypto project has to to turn to manufactured scapegoats and so on at a time of crisis says a lot about the crypto economy in general
This crash was orchestrated by blackrock/citadel. Do Kwon from terra took the bait by accepting thier btc offer after thier initial udt buy.
buy the dip, idjits
@@MK-qm4cx Or maybe it was just unsustainable from the beginning and it didn't work out, as it shouldn't have
you just had to watch token distribution to know that it was a real shitcoin
@@MK-qm4cx
Maybe, maybe not, but if the stablecoin is so fragile it can be wiped out that easily; it was probably going to zero regardless.
You had one job, stablecoins! ONE JOB!
thank you Bennett and coffeezilla
I'm so glad I found you before I sunk anything into some of this! I still don't quite understand all of it, but you make things make sense. Thanks much
It’s simple. Buy and hold. Diamond hands
Good thing you didn't lose money. I've e lost 400 dollars in crypto.
@@alrighty6898 cult behaviour
If you don't understand it, don't invest in it.
@@DrunkJackal Copy that!
Dont listen to the haters, Dropping 95% is just FUD. /s
💀
Loool
Best comment here
havent even watched the first 30 seconds yet but just want to tell you that I get so excited when I get a notification from you . kthx
I really enjoy this channel. Top info loaded with entertainment.
You know what adds a lot to a person's beauty....honesty.....I love watching two honest people having a discussion.
Yo I need help, should I just buy crypto now?
🙄🙄
@@tristanberndt6895 dont unless you can hack wallets dont
coffee: "69 cents"
me: "nice"
coffee: "nice"
nice
great show. I had no idea what was going on before
Wow! Amazing full of greatness. Thanks you. I will feference its many times over l'm sure no one come close to you with all you ' ve been doing since we meet 🙏🙏🙏...
Says a lot that we are going through massive inflation here across the world which Bitcoin was meant to solve and yet the hedge never works during tough economic conditions. It’s a risk on trade hence why big investors start selling when the stock market turns bearish/uncertain
Same with gold and silver. So whats the answer then?
@@mikel87
Corn
@@mikel87 Corn
@@mikel87 uhh Iast time I checked gold and silver are not down as much as many/most of the Cryptos. Big difference when your talking about millions/billions of dollars from a 20% loss compared to 50%
Bitcoin is still classed as a risk asset which is why it fluctuates so much. It's no different to tech stocks like Amazon and Google during the early 2000's.
Holy shit! This is more about BTC than anything. Dude in the red said the main key word “Control”.
I saw a tweet a few days ago warning of a potential depeg and got out than and there. I knew Anchor wouldn't last long, and once the APY started dropping people would exit en mass. Couple that with a solid billion dollars of shorts and this was inevitable.
Lost about 10 k with Luna, it’s not my lifesavings but definitely hurt. And I sold at 44$, can’t imagine the lunatics that went down the death spiral with existential money in it
How much did you invest and how much did you manage to make it out with? Congrats on not losing it all and getting out while you still could
I laugh in your general direction 😂
@@ZeusRL think it was like 25 k invest and I went out with 15 k once I realized UST was unpegged, it was down 40% already and I knew about the death spiral so I took all of it out
You got lucky, smart move selling at 44. Jacob bought at 60, held down to 19, now stuck,
@@edwardfoster6136 is this shit going to pump again? not sure whether to ape or not at this stage
If only there was a currency that was worth exactly US$1. That'd solve a lot of problems, wouldn't it?
Yeah totally dude, because people from developing nations with currencies inflating a massive amount every year just have access to the USD in a manner that can't just be removed from their bank account. Oh wait, that's right, that's not a thing and is exactly why a lot of people use decentralized stablecoins because governments can be terrible at managing their own native currency.
@@jhildebrandt121 Whereas there hasn't been a single problem with how these coins have been managed so far.
@@jhildebrandt121 people use stable coins because of 20% returns, get off your moral high horse you degen gambler
$1 USD will never be worth more today than it was yesterday
@@isaactfa Yes budy, the US dollar is managed so well, down over 20% this year, keep USD in your bank if you like staying poor.
Me: isn't everything crashing?
Me, after looking up how much LUNA has plunged: omg, wtf
These "coins" are not assets. They're gambles, pure and simple. They need "greater fools"; when the fools leave the party, game's over! "IT'S OVER!" If it walks and talks like a scam, it's a scam!
I made 10x on Luna. More scams please!
@@holdenwinters68 Feel good about having money made because of all the poor fools who bought in after you and lost it all?
Greed is a powerful emotion
@@paulmahoney7619 Sociopaths don't give a shit who they hurt.
LUNA might be crashing, but inflation is going to the MOON! See what I did there?....ha....no?.....okay
Inflation go to the moon 🚀🚀🚀🚀
Seeesh! Seeeeesh! Seeeeeeeesh!
It actually went down 🙄
@@Dan-nr3om you sure?
You clever bastard, you.
Out! Now!
The guest is like if Josh Gad went into Crypto instead of musicals in high school.
There are clueless people on my FB feed saying “buy Luna” these are the same people trying to act like they know what’s going on. I love watching them sweat Lolol
cant create value from nothing.... dollar: ''hold my beer''
Inflation: *Im gonna end this currencys whole career*
Remember when crypto was supposed to save us all from traditional finance?
it's saved alright, its saved millionaires from having to hide how they manipulate the market
You're silly if you think crypto is already in its honeymoon phase
A d you feel it's a hoax?
There's always bad actors .... never ends.
@Michiel Karrenbelt It doesnt make sense if you somehow forget that the global economy uses centralized fiat currency
Bro sounds like Elizabeth Holmes😂
"I know what they did wrong I'll fix it this time", I imagine that same person saying "I won't give it a name that doesn't have the last 5 letters of a notorious MLM company".
You legit answered my comment on an earlier video about hosting crypto critics corner and here we see a cheery Bennett! Thanks man, their channel really deserves more views!
Why is it that almost every coin turns out to be a scam or just fails on its own lol
maybe because they don't have actual use
Cause crypto investors don't even understand how the thing they invest in works
You just look at the scams from the thousands of coins. I can list countless regular stock market companies that were scams, would you say the whole stock market is scam then? Wirecard, Enron, Theranos, Bernard Madoff investments, WorldCom etc.
@@alrebor2089 Theranos happened way after stock market got regulated, regulations dont stop scammers.
@@alrebor2089 Have fun investing in Enron 2.0
Also high interest claims actually causing deflation in your coin value, wow. Unimaginable
amazing guest. educated on the topic.
You know shit stinks when Coffeezilla covers it
I keep watching these videos thinking one day it'll all click. I still don't understand a word they're saying. Still love the channel because I love seeing scammers get exposed!
lol me too. i dont understand the fundamentals of crypto i guess. just doesnt click with me. all of coffees videos are so entertaining nonetheless
I can give you a simple but somewhat incomplete explanation. As you already know the REAL currency you have in hand is only worth it because everyone just agrees that it is. Of course the paper with print cant have value so it needs to be tied to somehting that cant be just made out of thin air so that guarantee is gold. it is rare. it doesnt go bad. It cant be made infinitely.
Now coming to crypto, it is the same but the underlying value is made by a computation process. Thats it.
@@sayamqazi Currencies aren't guaranteed by gold. They're guaranteed by the expectation that a state will continue to exist, continue to have a tax base and continue to expect taxes to be paid in that currency. It's a little more complicated than that, but that's the basic gist.
let's be honest no one can predict what's happening with the market, now the best that we can do is just hold until we're in the green again
the market is going down.... buy gold my friend
Hahahahaha
Good luck
Learn macro-economics
Now crypto bros should go all in to make their coins cheaper. At least that's what you should do when you're investing in a solid company and a crash happens. You know it's going up again.
Because of direct to consumer collateralized debt obligations which is what was backing all these failing coins…
Coffeezilla posting a new video ALWAYS makes my day better....💯
The more I hear about LUNA and how it works, the more my mind explodes. 🤯🤯🤯
This Bennett Tomlin guy is giving me Super Dave Osborne vibes. RIP Bob.
Safemoon looking like a safer bet then Luna at this point
So glad somebody noticed that Dan Larimer literally came up with this a decade ago. Back in the day he had a new coin every couple of years just to extract money from rich DC-area kids at Virginia Tech lmao. Gotta respect the hustle I guess.
The fact that Luna investors call themselves lunatics says a whole lot about their lack of ability to think clearly.
I'm sticking with physical precious metals instead of crypto.
At least I can actually hold it in my bare hands and figit with it.
I wish more of today's generation of youth (ironically I'm only 23 years old) would abandon crypto and nfts and start stacking precious metals (gold, silver, platinum, palladium, rhodium, and sometimes copper).
Bitcoin has faired the best in this downturn. That alone says alot.
@@Prometheus7272 bitcoin my ass.
@@kingparzival1436 like I care
you sound just as crazy stacking rocks lmao
I think precious metals will eventually have their moment but stocks generally have a more reliable return. With that being said, right now we’re in a bear market so cash all the way
11:44 "I hope that doesn't happen any time soon"
I happen immediately after.
Just subscibed. This is so good.☕
Great guest. Can tell he's a smart guy!
When does he reach puberty ?
I think the "they can try to get partners to shore up the peg then try to rebuild trust" bit sounds a whoooole lot like central banking borrowing from other central banks.
"Spending Bitcoin reserves to hold up the value in the short term" also sounds a looooot like QE.
Wow. So different from central banking fundamentals which are "evil"
(Aside from the promised gains and ponzi stuff)
It's kinda funny how the crypto market has just been speed running the entire history of market catastrophes and showing everyone why regulations and government involvement are so important.
Regulations are not needed in crypto means that each buyer can take decision owing to its own research.
We all are witnessing how that is going
you also forget that its "tHe ReVoLuTiOn BrO" they're sticking it to the man, one crypto bubble at a time.
@@_Aemse to the moon!
LUSD working perfectly on Liquity... USDL will too on PulseChain in the Liquid Loans protocol.
"I bought on an expert to explain it"
Bennett: *tries not to laugh challenge activated*
Poor coffee, can't catch a break with crypto crashes. By now coffee's blood probably turned into his namesake, since it's the only way he can keep pumping out his amazing content with the same these coins tend to crash and burn!
Please never stop coffee, people need you!
Bennet made a podcast litteraly one week ago saying that LUNA was a piece of shit (Crypto Critic's Corner). What an absolute legend, perfect timing.
My guy Tomlin, you might've gone overboard with the sound proofing on the walls.
What all these stablevoin failures have in common is that the creators siphon off too much of the backing asset which stops them from being transparent and making withdrawals easy and seamless without hammering you with fees that make banks look free.
Yo, Bennett getting the rep he deserves! Crypto Critics corner hit this like days before the crash, it was epic.
If your going to create a stable coin they need to give it transactional value and a way to burn it
"When someone promises you 20% return, it is a scam!"
ARGENTINA'S CENTRAL BANK: "Amaturs!"
You need to do more videos with that robot in the bar! I like when you talk to that robot, and he tries to talk you out of things. It's funny
Another crypto coin rug in "KSI's journey to bankruptcy" 😭
Like we all think that crypto crashing and burning is new but is it, really? Does anyone remember what happened to tech companies in the past, assuming that we consider the programming that powers cryptocurrency? The dotcom burst? Atari executives saying, they could put shit in a game and it would sell? The cycle repeats itself. Simple greed always gets punctured and deflated in the end.
If there is going to be an eventual stable crypto market, it needs to go through the purges. I dunno if itll survive it
Most of those tech companies went out of business during the dot com crash. The survivors were the ones who actually produced something. Cryptocurrencies produce nothing and people are beginning to finally see that.
Could you give more details about the Atari one? I’ve heard a lot of crap about Atari, but not that one.
@Steve Arthur what tech companies you are talking about are the ones that survived the bubble. once all the bullshit in crypto goes away, some useful coins actually thrive.
@Steve Arthur huh? Time will tell whether the adoption is as big or not. But certainly you don't think there are coins that aren't useful to be adopted. I was talking about crypto as a technology not as a currency which (most) people think about when throwing their lives into.
great stuff, thanks guys! astounding how reckless people are with their money. pure ponzi scheme !
I love getting my scammer ads before my coffee video.
First time watching, you guys are great! I'm just a casual watcher of the crypto ecosystem, you both explain things in a really straightforward way!