Market price is always better in theory. You can't blame the medium of exchange asset for (((their))) market manipulation. The alternative is to have (((them))) take all the profit away from you through inflation, soon as the market price goes up. Then you go headfirst into the toilet once the market price goes down, crashes and never recovers. Which will happen to the dollar.
Luna is a classic example of get rich quick mentality where someone without knowledge copies a very simple open source software, adds new features then release it before all of the issues are fixed. Which is exactly how it failed.
Seems like they already fixed the problem, all they have to do now is to burn a large portion of the tokes to reduce supply and the exchange rate can recover. The stupid thing to do is if you went into Luna with the expectation to get rich quick, then panic sold for a fraction of a cent.
Seriously, what do you think would happen to the gold exchange rate if someone successfully managed to wrap bricks into gold foil and successfully convince the market that those worthless bricks where high quality solid gold bars. The gold exchange rate would crash just as bad as Luna and someone would have to buy all those bricks and destroy them for the exchange rate to ever have a chance to recover.
Always look at the final price of Bitcoin at year end, not the high. Every year it goes up.
The good news is it doesn't matter if you take it seriously or not
Market price is always better in theory. You can't blame the medium of exchange asset for (((their))) market manipulation. The alternative is to have (((them))) take all the profit away from you through inflation, soon as the market price goes up. Then you go headfirst into the toilet once the market price goes down, crashes and never recovers. Which will happen to the dollar.
You don't have to take it seriously as a currency. It's just a store of value, no different from stocks, etc.
Look up what happened to railroad stocks in the 1880 or so, or even gold for that matter. Both of those are still around.
https://www.history.com/news/the-black-friday-gold-scandal-145-years-ago
Luna is a classic example of get rich quick mentality where someone without knowledge copies a very simple open source software, adds new features then release it before all of the issues are fixed. Which is exactly how it failed.
Seems like they already fixed the problem, all they have to do now is to burn a large portion of the tokes to reduce supply and the exchange rate can recover. The stupid thing to do is if you went into Luna with the expectation to get rich quick, then panic sold for a fraction of a cent.
Seriously, what do you think would happen to the gold exchange rate if someone successfully managed to wrap bricks into gold foil and successfully convince the market that those worthless bricks where high quality solid gold bars. The gold exchange rate would crash just as bad as Luna and someone would have to buy all those bricks and destroy them for the exchange rate to ever have a chance to recover.
Nobody should have invested more than they could spare speculative investments.