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Never put all life savings into a single Stable coin

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Written by   463
1 month ago

13-05-2022

This recent incident caused a lot of tension and drama in market and everything crashed to its low didn't even thought it can happen anytime like this

I was fine and not much effected as i said earlier and went to a one day rest from this platform and market actually i was quite stressed when i saw BCH down to $160

Coz i need sudden emergency of fiat for some purpose and it was not possible to spend anything when it's too low so i feel better taking one day leave

So back to grind and things are quite better for BCH and i literally realised stable coin's aren't safe now.

Firstly i believed stable coin are way more safer than having fiat but i was wrong and now in this topic will talk on this.

Putting all life savings into a single stable coin

It's 22 and will be a tough and historic year either we'll remember crypto in history or a better future ahead through this

I mean everyone is scared and saying crypto era is over anything is possible

After seeing stable coin ain't stable anymore it's like risky

But UST was an algorithmic stablecoin and If I'm not wrong another algorithmic stablecoin lost it's peg and lost over hundreds of million dollar's

Well putting all life savings into a single stable coin Whether it's algorithmic or not isn't safer or smart choice.

UST isn't stable coin anymore

Since it lost peg till now haven't able to meet $1 once again and won't be possible

I heard they're like bankrupt now coz they need to pay like $16 billion Dept's or more

Well people's have bought over million or more worth of UST stable coin even peoples withdrawn fiat from Banks and put it into UST for like 16% Apr something like that

Which becomes a regret coz it literally went all the way down to 0.29 range was a good time to make profit through a stable coin which isn't stable anymore

Ah just checked UST and it's now 0.16$ instead of $1 see how stable it is

So officially I'll say UST is dead and will be written in history there was a stable coin where peoples lost their life savings and did suicide later.

$2.8million turned into $1k overnight

KSI is a known YouTuber and he literally lost all his money in Luna overnight

But he's a millionaire so for him ain't a big thing.

Anyways Luna is dead now, a friend of mine called me to buy Luna when it was at $1 and i was brother you serous don't invest otherwise will cry later

Marked myself safe from Luna my friend had invested and now crying but i said him earlier Luna supply is Like 36 billion and more so need like 36Trillion market cap to jump back to $1 from 0.001 which isn't possible.

From this whole thing I've realized never eve put all life savings into a single coin.

Never put all life savings to a single stablecoin

After this tragedy i bet no one will ever put everything in a single stablecoin

And specially everyone should avoid USDT tether coz it's always been a controversial stable coin

Also after UST Tether is %3 down to $0.97 lowest in 2years and anything bad can happen

So no one should put all his life savings into a single stable coin specially in tether

Divide portfolio into different stablecoin

Now if i would need to hold a stablecoin than I'll simply divide into different stablecoins rather than putting all in one

Now we've other stablecoin such as

  • USDC

  • Busd

  • Dai

  • FlexUSD

I currently have flexUSD but to be on a safer side I'll prefer to divide and buy some USDC, BUSD as a backup.

Having only one coin in portfolio

On other hand one mistake everyone should avoid is taking a portfolio full with only one coin

Like me who have only BCH in his portfolio which is quite risky coz if it goes down to under 100 than I've literally lost 80% of my portfolio more likely one year efforts becomes dust

So I'll avoid once BCH turns back to $500 or more though it's fundamentals are strong which will not drag much down.

Maybe I'm only guy who's all life savings is into BCH and almost lost all of life savings

Living in a world where whole social media is highlighting Luna becoming dust meanwhile no one asks for those BCH holder's who bought above $1000 and it went all the way to 160 recently

It's a sad reality though good thing we need positive attention otherwise this will catch Maxi's attention.

No matter what price BCH is at it's wide and growing adoption is what matter most and bring value

At least ain't backed by celebrity pumping their bags.

fin.

I'll pause it here and later will talk about rising inflation and economy of our country getting crushed and fiat losing it's value faster than Luna

This chart is enough to tell inflation rising every single month and fiat getting reckt but have converted all into BCH joining the revolution of digital money instead of getting bankrupt having fiat i prefer BCH.

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Written by   463
1 month ago
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Comments

el momento de la locura cualquier cosa puede pasar con el valor de la moneda, es como si estuvieran jugando jumanji, hay que invertir algún dinero que no necesitamos y que pueda ser puesto en una apuesta.

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1 month ago

I am glad to know that you are Pakistani and dollar worth great in pkr. I request you to publish article about with from BCH wallet to Jazzcash or bank account in Pakistan

$ 0.00
1 month ago

Ah so you're as well, maybe I've already published about it an year ago but you can ask me for help to guide simply anytime

It's too easy :) .

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1 month ago

I will be highly thankful if I get that article link because I don't know about it

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1 month ago

It is indeed sad for those who invested in LUNA and UST. I read that there is something the devs did that made such a dump. You are right about not putting life savings in one go. Diversify investments so they say.

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1 month ago

I heard that too, maybe they're involved and its pre planned who knows.

I need to diversify mine but BCH too low

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1 month ago

The same here so I'm using other funds to invest in other chains, even in small amounts

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1 month ago

I've never thought UST would get dump 🥴 Even stablecoin are sucks

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1 month ago

No one ever thought

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1 month ago

Current condition of market is really discouraging. Feeling bad for KSI who lost his 2.8 million. I am hoping best for BCH, pray it might pump soon.

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1 month ago

You have a good point, the crypto-verse is really unpredictable. No one is going to know what would happen next so it is advisable never to put our eggs in one basket.

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1 month ago

Yea, mostly do put everything in one basket even I'm all into BCH but have realized when i can't make any decision.

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1 month ago

I thought you are Filipino, but a Pakistani. Ugh! It's sad that the ATH of BCH is so far from the current price. Crypto is really volatile.

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1 month ago

mostly get confused over country or because of profile haha , I'm not seeing ATH sooner this time :! Too volatile

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1 month ago

I have lots of friends to, who have invested in Luna, claiming it was a stable coin, I didn't budge at first, but over the last month, they managed to convince me, and oops I invested, and all I can do know is give them that eyes, I'm happy I didn't invest huge, but at least it pains. Nice to meet you BTW

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1 month ago

Ah sad to hear :( shouldn't listen to anyone else in crypto not even our parents

DYOR and making decision by own is the key.

Well you'll recover it and nice to meet you too!

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1 month ago

That's too sad... Million to a thousand...tsk.. Stable are risky as well.. Hope it won't happen to usdt

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1 month ago

It is sad, we can only hope USDT to stay safe

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1 month ago

I feel sad to the people who took suicide. Who are those people? It's really scary to take risk in the crypto world @Idksamad7869

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1 month ago

Yea it's really sad tho i only know they're humans and too risky or scary :(

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1 month ago