Stable Coin Luna/UST Collapses. Leaving Investors High and Dry.

People have been posting about LUNA/UST since weeks ago warning everyone this was pretty much on the cards. I obviously don’t want to see anyone or anything fail, but it really is important to read everything with an open mind.

If you straight up ignore all advice that is contrary to what you want to hear, you are setting yourself up for failure. The Safemoon sub is the prime example of the echo chamber that just won’t listen.

Please. If someone warns you against something, try to find reason in it. Is it possible they are correct? Challenge it, and ask or clarify your misunderstandings.

I don’t want this post to come across as a “told you so” at all. Although I’m sure many commenters will say exactly that. The point I’m trying to make is to please listen to both sides at all times. It is usually quite easy to discern between someone just spreading FUD and someone who is trying to challenge the merits of a project.

One thing I do to help me understand all issues is to join the subs or projects I’m not involved in, as well as those I am involved in. I need to hear all sides. In this specific example UST is a direct competitor to MKR/DAI. I’ve done my research on both systems and MKR seems to be reasonably open source and conservative when it came to collateral and token economics. So when Do Kwan(the guy in charge at LUNA/UST) had nothing but antagonistic quotes and opinions on MKR/DAI and Ethereum a huge red flag went up for me. I looked into it more and found that I didn’t like how LUNA/UST was run and wasn’t impressed by the technical side.

So word to the wise look up what project your investing in!!