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Entirely lacking details; but I don’t think anyone would be surprised at this point that shady things were happening at Terra Labs.
by cmckn 4y ago
Entirely lacking details; but I don’t think anyone would be surprised at this point that shady things were happening at Terra Labs.
- tluyben2 4y agoAnd are happening. Luna2 got a people pouring money and it is gone now almost. It is not over.
- kmonsen 4y agoThere must be more to it, I can't believe people are believing in it. They must be in on the scam in some way.
- lilyball 4y agoPeople want to believe, because if they don't then it means they were wrong to believe in the first place. Faith is irrational.
- jpeanuts 4y agoOr: there are a lot of people who think that they're in on a scam, but in fact are lower down the pyramid than they are told. That explanation requires no faith, and can also explain participation of entirely rational actors.
- moistly 4y agoSunk cost fallacy applies to faith as much as it does to money.
- jjtheblunt 4y agoperhaps they're blinded by denial?
- itsmemattchung 4y agoSadly, people have blind spots. I personally know someone who just like 40-50k, someone who was THE biggest advocate of Terra/Luna. Post crash? Reinvesting in Luna2.0
- sytelus 4y agoFool me once, fool me twice... wow! It is this time when I think about all the people who cry about SEC regulations and argue that people are intelligent and need not be protected from scammers like this.
- radicaldreamer 4y agoThey’re part of a cult. Prophecies not happening actually strengthen their belief in the cult.
- mike_d 4y agoI know tons of people who made double digit millions in bitcoin. They put 10k to 50k early money in most projects they come across. Maybe 10% come out with a positive ROI of >1000%. Crypto is no more of a scam than venture capital.
- namdnay 4y agoThe fundamental difference being that from time to time, companies funded by VC actually build a product that is sold to the non-investing public. If VC were like crypto, they’d only be funding startups whose objective would be to raise more money from other VCs
- tluyben2 4y ago> If VC were like crypto, they’d only be funding startups whose objective would be to raise more money from other VCs And this is not often the case? I mean for crypto it's basically only that, but there are quite a bunch of VC funded companies that just live on raise followed by raise. They won't say that out loud, but nor will crypto many crypto companies.
- JoelMcCracken 4y agoI'm sure there are people saying "look, NOW is the time to get in on luna2! We learned lessons from 1, and 2 will be perfect"
- kmonsen 4y agoOf all the scams to fall for luna2 seems a very obvious one.
- polytely 4y agoits like those doomsday cults that double down after the promised rapture doesn't arrive
- heretogetout 4y agoIt's easy, they know someone that knows someone that made a few hundred grand in crypto a while back, and they want a piece. The thinking doesn't go much beyond this.