Are we really investing in the crypto space or is it a glorified gambling?

cryptopie (80)in #cryptocurrency • 2 years ago

We call it investing, gambling, trading, hustling, or informal sector.

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On the 31st of this month I will be receiving some fork tokens of Terra Luna from Binance, it will called Terra 2.0 or whatever the symbol they will name it. It is because I invested in Luna after the de-pegging of USTerra (UST) that caused the overprint of Luna token.

I was thinking that if I would invest on it I can sell it if the price jumps again in the short term or if not will at least go up in value in long-term perspective or that is what I thought could happen. With this move that I had made it is now like a gamble for me having to buy/catch a falling knife because that really what had happened.

Little that I knew that instead of fixing the current problem, Mr. Do Kwon had thought to just fork it and come-up with a brand new token without an algorithmic stable coin that is connected to it because it is just proven that algorithmic stable coin is not so stable afterall and is just too risky and traders and investors alike now are aware of it already because of what happened to UST.

With regards to stable coin I guess it is better to stick with USDC which is backed by real dollars and probably BUSD because well its Binance and then maybe Tether even though it is a controversial stable coin simply because some tokens are paired into it and not to USDC. That is why I am thinking that even in stable coins like Tether it is still a gamble to even hold it too.

With regards to the fork of Luna I am yet to see how much forked Luna that I got and will be getting every month or so for the next two years after this coming month. I am still thinking if I would be selling or will just hold it for now because of course it is like a gamble too as it could just go downhill from this pint onwards because of the damaged reputation that Luna had experienced.

Again but what if Luna 2.0 takes off to higher levels? Then selling it a low value will melt your face if that happens then blaming yourself afterwards. So with this thought I guess that there is a fine line between investing and gambling, it seems that it is a combination of the two happening in this realm of cryptocurrency trading and I just have mixed feelings about it now.

But this has been what I am doing, it is what I do so I can of course profit, but whatever you will call it, it is just my way of making money online. Maybe on the safe side let us just call it cryptocurrency trading, or in the safest and maybe politically correct term, an "informal sector" way of making a living and that includes staking and blockchain blogging.