Having trust issues with Blue Chips Now…

Let’s be real, not a lot of us saw this coming with Luna basically going to 0. Luna was a literal blue chip alt and the fact it died so fast is devastating and quite frankly something I thought wasn’t possible. I’m even looking at Eth with some worry.

What are your thoughts about all this?

Disclaimer: I own 0 BTC so no, this isn’t coming from a maxi view.

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18 thoughts on “Having trust issues with Blue Chips Now…”

  1. I assumed long ago that UST would eventually crash and burn. Anyone that ever considered it a blue chip didn’t do their homework.

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  2. Yeah I agree with the sentiment of only Bitcoin and eth are blue chips. The top tier layer ones have to prove themselves through bulls and bears and increased network usage Just gotta diversify so if you get hit it’s not all in the same basket. I mean really you have to expect these alt layer ones to have growing pains. There’s going to be problems I mean there’s snipers out there looking to take things down and take all the cash as we just saw.

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  3. I never though luna was a blue chip, all of the people that did the due dilligence knew of it’s death spiral risk.

    ​

    The problems are broader market conditions triggerred by this event, like:

    Regulations

    Venus was exposed for 6 hours to a hack of 1b due to LUNA chainlink oracle failure ( a bsc protocol (

    Another protocol was exploited for a few mil on the BSC due to that oracle

    We still have NEAR and USN which has a similar mechanism, and a 1b USDT treasury which could be sold and create potential panic

    ​

    I could go on but LUNA is the least of the worries right now. This is a black swan event and some people are not yet aware. Dark times are coming harry

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  4. Anything that pays 20% interest will eventually collapse, perhaps not so spectacularly, but that’s just an indication that an ecosystem isn’t sustainable.

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  5. this is why I prefer to focus solely on BTC and ETH and a few other potential alts, thankfully LUNA wasn’t one of them.

    Satoshis and Gwei are the only way

    🙂 happy stacking my friend

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  6. Quite a lot of people didn’t see the LUNA crash coming but it has happened and cannot possibly stop investors from investing, it is simply just another eye-opener, regardless of that thanks to the crash as I have been able to stack more ETH alongside TXA which I will continue to DCA at interval also new entry for MATIC.

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  7. Luna was a young project nothing should be considered “Blue Chip” without at least 5 years under their belt

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  8. If it helps OP, don’t EVER consider an algorithmic stable coin as blue chip. Maybe it’s best for you to stick with ETH and BTC to keep it simple

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  9. Different people use the term Blue Chip differently. Some people use blue chip to mean pretty much the top 10. Benjamin Cowen, who I follow as a great source on crypto investing (not DeFi, or even low caps), uses the term to mean BTC and ETH only. I think the Luna debacle demonstrates that the latter is the better use of the term. Even ETH is somewhat uncertain as to its future. BTC is the ONLY coin that is basically guaranteed to still be here in 5 years IMO. All the others, even ETH, could be gone in 5 years. Most others even sooner (though two days for Luna was pretty bloody impressive). Basic lesson – DO NOT put all your eggs in one basket (unless it’s BTC). I personally wouldn’t put more than 20% into anything other than BTC or ETH.

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  10. The only blue chip in my opinion is btc. Eth is on the slate to get there but has to successfully go through the several major updates to be a real blue chip (in my opinion).

    You could argue that bnb, xrp and ada are trying…but that’s a whole different debate I guess.

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  11. I think it is very good and painfull lesson to all of us , how two top 10 coins can go to shit after 3 days . And also i hope that other coins in top 20 will learn this lesson and try to act more safely . But it is a big punch to crypto reputation

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  12. It’s come to a reality that Defi is just a stepping stone and $Flurry Finance is at the forefront of the future of defi

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  13. There were only 2 bluechips BTC and ETH and even those are suspect. Anything can happen.

    People act like they can game crypto. Noone knows anything.

    Its a HUGE GAMBLE! So invest what you can afford to lose.

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