If your coin can go to 0 due to “an attack”, then that coin is worth 0 to begin with.

Crypto exists in a space that is largely a completely unregulated free market. If your crypto project can be made worthless due to some economic actors performing a free market action, then that coin never had any worth to begin with. Complaining about “attacks” post hoc is a useless activity that tries to absolve the individual of making a bad trade.

If your algorithmic stablecoin project was so flawed to the point where a bunch of people selling its stablecoin could send the entire LUNA/UST ecosystem to 0, then that coin was so flawed to be worthless from the word go.

Take responsibility for bad trades and stop trying to absolve yourself of all responsibility by inventing charades and conspiracies about how the man made you broke.

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40 thoughts on “If your coin can go to 0 due to “an attack”, then that coin is worth 0 to begin with.”

  1. This post is like the archnemesis of the “Suicide hotline” posts that get pinned up in every investment/crypto sub.

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  2. “Going to zero” just means liquidity on the exchange has been completely sold.

    It doesn’t mean more liquidity won’t show up to buy again/more.

    It’s exactly what a flash-crash in crypto is.

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  3. Crypto is the wild wild West. People need to take accountability for their actions. Yes it’s that easy to make a million, and it’s also really not.

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  4. Stable coins were always a stupid idea. But it isn’t like any other cryptocurrency has any actual backing to their value either – if everyone loses faith in Bitcoin and decides to sell it at once, the value will also drop to $0

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  5. funnyhow a similar attack (with respective scale) on a smaller fiat currency can do the same.

    that would mean that the project “put currency here” was not worth investing in the first place.

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  6. everything can be attacked. unless you are fucking superman then you dont need protection. well unless batman gets mad

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  7. With what happened to Luna are algorithmic stable coins not a risk to both sides? If it is not backed up then what prevent switching back and forth between the coins?

    What is the benefits of it over normal stable coins?

    I wonder if Ada’s Djed will reevaluate their development plan..

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  8. The attackers didn’t do everything by themselves. They caused a domino effect of panic and it had to happen at least once before people learn.

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  9. That is a flawed premise. The entire point of crypto is that an economic attack could take out any crypto BUT the incentives exist so it SHOULD be more profitable to not.

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  10. everything in life is flawed, so even crypto – and come on, be real, with coordinated and well executed attacks, probably all except 3 cryptos would get crushed to 0

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  11. This is the dumbest post on the sub in probably the last hour.

    Anything with monetary value can go to zero from some kind of attack.

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  12. I get it, but this literally untrue. If a coin has some value and then goes to zero, then it was NOT worth zero. It had a large market cap. Fortunes are made – and lost – these kinds of coins all of the time. Just depends on when you got in and if you took profits. Projects can have fatal flaws or vulnerabilities such that are doomed to fail, but that doesn’t mean that their coins are worth zero at all points in time.

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  13. I have a feeling terra is gonna stabilize at a lower price. Possibly $10. That’s a sweet gain. Everyone is panicking but a lot of people r making money shorting it. As long as they can do that there will be volume. And exchanges love to take fees

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  14. Cryptocurrency is a new market. It has survived years of troubles but that is the name of the game. You will have your ups and downs, but if the price is what changes your perspective of cryptocurrency. Then you shouldn’t have been invested in the first place.

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  15. i agree with this in spirit but you’re seriously underestimating the level of advertising do kwon did in korea. you’re also just soundin like a dick, dunking on luna fanboys won’t change the fact that you’re about to lose everything too.

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  16. If your country can be destroyed from “an attack” your country is worthless to begin with.

    See sounds dumb af

    To clarify I’m stating how dumb it is to say if it can be destroyed it’s worthless because pretty much everything can be destroyed/will be destroyed.

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