Cryptocurrency

    Russia was invading, so a Ukrainian converted his life savings of $10,500 into the crypto token terra. Then the token crashed.

    adminBy Updated:39 Comments1 Min Read
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    39 Comments

    2. coinfeeds-bot on

      tldr; The Kyiv resident said he wanted to avoid the risks from Russia’s war or a currency collapse.

      *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

      Reply
    6. turbosecchia on

      Ah yes, the store of value, best performing asset of the last decade, the digital version of gold, with finite and fixed supply: LUNA! Wait no

      Reply
    7. jakekick1999 on

      This is basically the common man. He looked at crypto stable coin. Thought it was safe and loved the interest rate. Yes, too many red flags. But to an average person the positives plus the promise of stable coin lured them in.

      Only to have it all taken away.

      F**k Do Kwon

      Reply
    8. nosoanon on

      I don’t understand why anyone who has spent time in crypto would covert their life savings into a single coin other than BTC or ETH

      Reply
    10. NotRyanPoles on

      Damn talk about bad luck. Having your country invaded and the one crypto you use to help is Terra which crashes. Yikes.

      Reply
    13. Wonzky on

      I can’t even imagine what this man is going through, being in a war and losing all your savings

      Regardless of what people think of his decision, I hope he can recover

      Reply
    14. jaifaimencore on

      That’s unlucky, seriously poor guy. Who would have thought that it was meant to collapse?

      Reply
    16. Proud-Masterpiece on

      The money would have been completely safe in a Kyiv bank. And completely accessible too.

      Reply
    17. 200kBR on

      Dam man.. I wish they had put it into any other main coin.. Luna hasn’t been around long enough to commit your whole roll to.. BTC is always good for long term holds.

      Reply
    20. knit_my_frog on

      Crazy to think about the fact that he would have been better off putting that into dogecoin

      Reply
    23. Uberg33k on

      There’s a lot of people here saying basically that he’s a dumbass and should have used _____ instead of UST. Hindsight is 20/20. It was perfectly logical at the time to move his money into UST and deposit into Anchor. It seemed stable and had a rate of interest that would hold value above inflation. I’m sure this guy didn’t really have time to weigh all the options as explosions rained down around Kyiv. The part I can’t wrap my head around and he should be criticized for is there is a button at the top right of the Anchor deposit page that says “Protect Your Deposit” that leads you to insurance policies. Like, if this was your life savings and the only shot you had, then why not spend a bit to protect yourself with deposit/depeg insurance? It makes no sense.

      Reply
    24. bt_85 on

      Nah, it wasn’t a ponzi. Everyone around here calls everything either a ponzi or a rug, regardless of what really happened.

      Reply
    27. MrRad5000 on

      The echo chamber surrounding what is valuable and what is total garbage is unreal. Something does well, no one really knows why : it’s the most amazing thing in the world, no one wants to fault it, it’s genius. Something crashes, rugs whatever well then : how could anyone have not seen this coming!! Oh wow it was so obvious it had scam written all over it.

      Follow this one simple explanation and save yourself the time of reading 99% of comments on /crypto. This smooth brained ape quality goes all the way back to fighting over bananas and monkey booty. Check yourself before charging in with a fake sense of authority to make yourself feel superior. We all know it’s a casino.

      Reply
    29. sublimeandetc on

      Plenty of people hating on the coin choice and saying he should’ve done something different. While not incorrect statements, sometimes showing some empathy is more important than making an asshole comment.

      Reply
    30. ljhamilton on

      This was Do Kwans experiment and everyone else had to suffer because of his mistakes. And he still has the audacity to want to do more crypto projects.

      Reply
    31. 1078Garage on

      “I often have headaches and anxiety,” he told The Guardian. “My wife still doesn’t know about this loss. I don’t know how to tell her.”

      ![gif](giphy|9zoe1SFIBd8PPqz5cr)

      Reply
    32. orbofdeception on

      we, the OG of Crypto, will have no remorse if you don’t do as we say.

      BTC and ETH only !

      Reply
    34. s1lverbox on

      What a bs story. Change “Ukrainian” in to normal folk and story like million others. Gr8 way of playing on emotions because “Ru” and “ukr” in title.
      Secondly, if he wanted security he would change for something more safe.

      Ust and anchor with 20% was typical Ponzi.
      Daily it was making loses for Terra so why on earth would you choose that?

      Reply
    37. 505hy on

      I’m really sorry for Yuri but let’s face it – he did not pick UST for being stable. He decided to do it because of 20% annual return. It’s 20% for a reason and in this case risk/reward did not worked well for him.

      Reply
    38. xcvx23v on

      Damn man, I am glad that I am not like this guy but still it’s not his fault because terra was a fucking stable coin back then but this crash has fucked many lives, this is just something sad.

      Reply
    39. rambo_alex on

      Sad for him because he was thinking that LUNA was a stable coin and it has good fundamentals but everything has changed now market is not having new volume to pump because LUNA has degraded the image of crypto

      Reply

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