Will you invest in Luna?

in LeoFinance2 months ago

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It is a well known fact that Luna took a beating the past couple of days. There have been a variety of theories behind the bank run that led to what seemed like the collapse of one of the most prominent DPOS networks in crypto land.

The insanity surrounding UST stable coin has led to questions about the efficacy of algo stable coins. I believe that this is just a blip along the way, and I absolutely believe that algo stable coins will still dominate the scene in the future.

In any case, the situation around Luna has also opened up a massive buy opportunity that I know I'll be beating myself over if I don't cash in on. As I see it, Luna is going to recover from this unfortunate situation and be back stronger.

With that in mind, I keep wondering if this is a good time to give myself some Luna exposure. I mean, I know things are really crazy right now and the price of Luna is all over the place but I kind of feel like it is a worthy long term investment.

Every blockchain will experience its own problems and overcoming these challenges is a sign of resilience. In one capacity or the other, virtually every top 20 crypto has experienced a massive selloff that petrified the public.

For example, think back to when Ethereum dropped all the way down to $80 for a while and traded for a couple of hundred dollars for while. That coin is trading in the $2400 range and we're calling that bearish.

Will you risk it?

For what it's worth though, I know investing in Luna right now is a massive risk but will you be willing to risk it? If you're not willing to risk it, I'll understand.

Fortune favours the brave

If you're willing to risk it though, have you set any target? What approach do you intend to use to get Luna tokens, whenever you decide to do it?

Personally, I've decided to risk it and I already got some Luna when it was around $6. I only tested the waters with a couple of dollars though and didn't throw in anything substantial.

One of the earliest rules we learned in the crypto industry is that we should only trade with money we're comfortable with losing. This is the approach I intend to employ when I'm investing in Luna.

So the plan is to dollar cost average into Luna. It is going to be a drawn-out process that will span a couple of weeks and I certainly will not panic buy for any reason.

I need a big win

I'm still planning long term and looking out for what could potentially be a nest egg. Just like the way I invested in Splinterlands packs, I'll also slowly accumulate 1k Luna tokens and hold them for the next couple of years.

If you're looking to invest in Luna, my advice is to ensure you only invest what you're comfortable with losing. I say this because Luna is experiencing unnaturally wild volatility that I've never seen before.

Today, Luna dropped all the way down to 72 cents and climbed all the way up to the $8 range before dropping to the $3 range again. Luna's 24hours candle also shows that it was trading somewhere around $34 for a while.

Anybody choosing to invest in Luna is taking a massive risk. It is a risk I'm willing to take with funds that I'm willing to "lose". What about you, will you be adding Luna to your portfolio?

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I am testing the waters, bought at $1.9 this afternoon and crossing my fingers that something good happens.

Nice. You caught it at a nice price. I bought at $6. I'll still buy more though.

Just stack it and throway face.

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I hope it turns out great or not. After all, we miss all the shots we don't take.

Exactly. Time will tell

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UST may go back to its peg but at the cost of the Luna token, its literally minting itself into oblivion. Its now a shiba type of situation so if you wanna make money your gunna need millions of Luna.

Luna will eventually be burnt right?

Who knows. Whoever did this knew they could literally destroy a dodgy stable coin and project with about 1 billion dollars. Its in a total death spiral im not sure they can do anything about it. Its just fucked.

Crazy how fragile the system is. How can they be so over collateralized and act like everything is okay?

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Could be a huge payday for those who are bold. However, if wrong, it could hurt.

Never invest money you cannot afford to lose.

Good luck to all who jump at this chance.

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Yup. I encourage anybody willing to risk it to play it safe. Invest only tiny amounts that you won't mind losing. Personally, I'm going to be investing money that I'd normally spend on a night out drinking beer.

This investment is actually good for my health 😄.

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As I write now (May 13th 20:33 UTC), Luna blockchain has been apparently stopped and all major exchanges have delisted LUNA and UST. Investing in Luna simply isn't possible any more.

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I think I'm just going to keep working on plumping my diesel pools and writing out the recent beating that we've taken.

Still crossing my fingers that we can recover in crypto land from this crazy situation.

Things will come good in the future. Gotta keep calm and accumulate for now

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Absolutely.

And harder we trade the more of that we can keep our price from falling.

Today is a pretty rough day.

I suspect worse days are ahead. These events tend to wipe out the paper hands and reinforce the crypto market. Eventually, we'll emerge even better than we were.

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Yep. Hold faith!

This has happened before and we will definitely recover.

It happened last year May or so when everyone was scared that everything was going to crash

I absolutely believe it however...

This is going to make it a little bit more difficult for me to achieve my current goals that are going on right now.

At least I got a backup plan...

One of the things I tell my friends

Do what gives you peace.

If it will affect any of your goals, then let it be

Remember, good deals don't finish

All I got to do is just keep going


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72 cents and getting all the way to 8 dollars? I mean some may have made a good profit of it..

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I'm oained that I didn't catch that swing. Anyway, I intend to DCA for the next couple of weeks/months. No pressure

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DCA is a good strategy

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You know right

I'll wait until investments begin in Zimbabwe, Mozambique and other areas on my home planet)

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Well good luck with that 😄

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Apparently, I deceived you, but even I myself did not know that I would buy these coins, lol. bought 300 pieces today)

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I can't think of buying. I just keep laughing at my stupid jokes about how the moon goes to crypto.

Crypto will moon eventually.

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LoL. Can't blame you. It is a fucked up situation

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I actually did that.

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Very nice. Hopefully, in two years time we'll be crypto millionaires, drinking cold beer in your yatch

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Would be great. I really need diamonds hands for that.

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Luna ath is $100, I'm going to hodl till we're within that range.

Crazy thing is that in the next Bitcoin halving and subsequent bull market, Luna could easily pump to $200.

I just want to accumulate 1000 coins and then hold till infinity

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1000 coins at $200 each is quite some money...

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I'm going to do it slowly. Investing beer money weekly until I reach my target

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I totally agree with everything..

In fact I had to download their white paper so I could understand the economics of the token..

I should be done reading it today and by tomorrow, I will make my decision on if it is a worthy long term investment

i was contmplating about it and decided to bet on its reasonably ready ecosystem. see my post.

doing DCA with money i can lose, of course!

thanks for your sharing.

You make some excellent points ngl. The fact that they broke into the top 15 at some point is enough reason to DCA with a little money

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I won't even look at it as a buy as long as that ridiculous LUNA printing rate is going brrrrrr.

luna supply:
yesterday - 775,692,873
today - 2,578,705,046

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A decent part of that supply will be burnt to repeg UST right?

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today: 101,256,445,519

not sure how they are planning on burning that.

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LoL they're just printing as much as possible to get back the peg. No idea how they intend to achieve that

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it is basically impossible with that low of a LUNA price.

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Two words, mate:

Hive Power.

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LoL welp, I guess no Luna for you then

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Everyone is in for a rough ride for quite awhile.Take it all in stride and create,curate.

luna has gone too zero on binance at the moment crazy month we have here may will sure be remembered as a black swin event for the cryptocurrency revolution

luna is perhaps a baf buy for now but ust is a good buy. it will definitely return to its peg