Sam discusses the de-pegging of UST and the crash of Luna, describing it as a terrible situation for those with money invested. He states that investors will likely lose confidence due to a lack of information from Doe and fear of further losses, though he believes that they will eventually find a way to raise the price of Luna. Sam remains positive, reminding viewers that mistakes can be learned from and that they will get through it, before promoting links to BlockFi and Unstoppable Domains.
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Introduction
How’s it going everyone? It’s Sam, and I am going to keep this short. I’m going to stay a little bit quiet because it’s 5 a.m our time. I just woke up, checked my phone to see where the peg for tara was, and I felt like I had to make this video.
The Situation
If you look here, peg the UST is nowhere here right now. The UST is sitting around 50 cents, obviously de-pegging worse. We had a massive run-down actually to 20 cents over on Kucoin, 30 cents here on CoinMarketCap. We still haven’t heard anything from Dokuan.
The last thing that they said was that there’s going to be a raise of 1 to 1.5 billion dollars, and just to keep it honest here with that raise, it becomes harder and harder as Luna falls down in price. Luna’s 5.66 cents; they’re trying to raise basically a tenth of its market cap. Some people might think that it’s too far gone.
I think that they will try to push back up the price; I don’t think they want to lose everything right now because of not being able to figure out what to do next. I think they will figure out a way to push up the price, but this doesn’t mean that it’s not freaky, and there’s going to be a lot of retail that just capitulates.
Holding on to My UST
Right now, I’m still holding on to my UST, and I know a lot of other people that have a lot of UST as well. They’re in a similar boat. It sucks because you look back yesterday, and you’re wondering, should I have sold? And it’s hard because you don’t know the future, but you just do the best with what you know at the time.
Yesterday we thought that the market was looking good; we thought the peg was coming back. Why sell when you could get 10% more in a few hours kind of thing? Now we still haven’t heard anything from Dokuan, and we still don’t know what’s going to happen next.
Thoughts on the Future
We could be missing out on half our investment if this goes to zero, but we could be missing half our investment if this goes up to one dollar. Now we do have CPI coming out later, maybe a good CPI reading can make this jump back up to a dollar or jump back up significantly.
I don’t think that the people who are coordinated attacking this necessarily want to go down to zero. I mean, I think it would be better for them to let it kind of come back up, gain confidence and then dump it again. Now maybe there’s some moral dilemma, maybe there’s something that they have against Terra Speci in more than just that they want to make money.
Conclusion
Let me know your thoughts on this underneath the video. Just a reminder because I know how I’m feeling. I’m generally a very positive person. I know how I’m feeling, so I know other people are probably feeling just as bad or worse.
Just stay strong out there; we’re going to get through this. Like I said, this is a good, if nothing else, this is something good for the future. There’s a link down there to Block Fine in case you’re looking for some free money right now. You can get up to 250 bonuses when you start depositing, and there’s a link down there to unstoppable domains to get a readable wallet addressed.
You guys can check out both those links, but I understand if you don’t. Thanks guys, and I’ll see you in the next one. Bye.
