I bet $50 on Luna a few days ago and it's now worth less than $0.007.

2 Min Read
388 words

I had never been a serious Luna follower, but I put 50 dollars in Luna a few days ago, betting on it as a contrarian play.

Now my Luna stash is worth less than $0.007.

I lost the bet, and my contrarian post had aged badly within days.

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My heart goes out to those who had lost substantial wealth in this unfortunate situation.

My $50 lost is nothing in comparison.

On hindsight, I am glad I threw in some money at the heat of the dump because that made me more interested in the news surrounding this episode.

I literally jumped on the bandwagon, for a free fall.

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For what $50 is worth (which I could have used to buy Hive), seeing the unrestricted free fall, or death spiral, as it plays out turn out to be a worthy life experience nevertheless.

The $50 was the ticket to the vicarious experience, feeling a tiny fraction of what serious Luna investors might feel about the lost. But enough to learn something.

This is it:

The mood in the crypto space, and especially among Luna investors is heightened fear and negativity. The social media posts say it all. People are still in shock seeing one of the top protocols crumble within such a short time to nothing. There are stories of people investing their entire life savings in Anchor, and that is tragic.

The scary thing: This could happen to me, and with anything I have invested. What if Bitcoin or Hive goes from something to nothing within days? What is my backup plan if that happen? How can I do better to prevent that?

Following the news and mood of the Luna crash closely had edged me into taking stock of what I can do to refine my own crypto thesis.

There will be a lot to unpack. I seriously won't be thinking so deep into this if not that $50 bet on Luna during the death spiral.

I am also appreaciative of the role Hive plays in my life. Probably better as a blogging space where I get incentivized to pen my thoughts and contrarian ideas, than for becoming a millionaire through it.

The educational experience gained from writing/reading posts in this community is priceless enough.

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