Even CoinBureau Lost 10% Because of LUNA
Incredible potential, disastrous execution
CoinBureau has made several videos about Terra protocol with LUNA and UST.
He was a fan and a big supporter of the project.
Although we do not know how much money he has personally invested into LUNA/UST, we know what percentage of his portfolio LUNA and UST was.
We can look it up in his weekly newsletter, which he and his team send out every week. The picture below shows his public portfolio on 8th May 2022.
As we can see, almost 10% of his portfolio was dedicated to LUNA/UST.
This means that CoinBureau “the Guy” was confident that a protocol like Terra can play a significant role in the future. He was completely right to do so, because a decentralized stablecoin (like UST was) is something we need!
If even he, with an entire team behind, was fooled by the security risks, how does a normal retail investor even stand a chance.
Disclaimer: I never bought LUNA before the crash (I am not a fan of algorithmic stablecoins). I only bought it after the crash at 1$ (a terrible mistake), because I believed the team would be able to re-peg the UST to US dollar. Short answer: they did not and I lost everything that I have invested (0,5% of my portfolio).
Not a lot, at least not as much as CoinBureau did, but it still hurt.
That is the price we pay for taking risks!
CoinBureau mentioned the risks of LUNA in a previous video
1. LUNA is not transparent enough.
2. It is unknown how much different entities are involved in maintaining the UST peg.
3. It is hard to say if UST is a 100% decentralized stablecoin.
4. Centralized stablecoin institutions hate UST.
5. Institutions are actively trying to take TERRA down. Including physical threats to developers.
6. UST is a direct competition to CBDS/governments. They will do anything to stop it.
And now I ask you dear reader. Do you think that the TERRA attack was coordinated? Who stands behind it?!
If you ask me, this was a fight against the freedom that crypto offers. The banks won and we will continue to be pawns in this financial system.
CoinBureau is a Gem!
I mean this. This guy is marvelous. Objective, open and is here for crypto (not just profits). He has been here for a very long time and he continues to provide excellent content.
This is not a commercial. I truly believe that he is what I call “the first contact” between the crypto world and the general public. If someone asks me what crypto is or how can I educate myself, I always say go on YouTube and watch CoinBureau.
Crypto Content Writers Let’s Work Together
Dear crypto content writers let’s do this.
Contents distributed by Learn.Block6.tech
👉 Telegram — Fresh ideas
👉 Twitter — Latest articles