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A comment on Tether starting to lose its peg too, after Terra did. Parent comment

Re:Tether starting to lose its peg too, after Terra did by tluyben2 on Thursday May 12, 2022 @04:13AM (#31350708)
Still, 'smart' is usually not buying at ATH (even a local high) or not having a stop loss if you don't have time to stare at your screen all day and night. I don't know how many people 'woke up' to a 90% dump in terra and were too late to act; that's not smart and you don't have to be blackrock smart for that. This is not exclusive to cryptocurrencies of course; I don't have any, but I do trade other more traditional assets as total amateur.

But yes, I agree with you; they will be taking most the winnings because it's their job. That doesn't mean you cannot make money as an amateur. The real naive people can just send their money directly to the Blackrock bank account; saves a lot of stress.

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Re:Tether starting to lose its peg too, after Terra did by kravvall on Thursday May 12, 2022 @05:30AM (#31351360)
I completely get your point, and you're correct, but there are layers to it, especially in crypto. And I guess that means layers of fishy stuff.

If your luna stop loss was done in UST, you are also effed, even if you took the precaution of stop loss, because the "stable"coin dipped. Not saying that this was "safe" to do, but there are surely people out there who did this and got screwed, and I guess that would feel terrible.

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Re:Tether starting to lose its peg too, after Terra did by tluyben2 on Thursday May 12, 2022 @05:33AM (#31351384)
> and I guess that would feel terrible.

Absolutely; there are proud whales saying they lost millions and laughing (not sure why) but I am very sorry for the people who lost a few k$ and now are in deep shit because they didn’t understand what they were doing. The ‘how can this be; I will get my money back right?’ type of thing.

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