So I bought LUNA a while ago. It was doing great until it just crashed. I thought I was being smart buying the dip at $2, but then it plummeted to 20 cents and I lost a ton. Worst trade ever.
But Pi is different, right? Luna had an exchange backing it, FTX or something. Pi doesn’t have that at all. I’d take my chances with Pi over LUNA any day.
FTX's downfall was mainly due to their own mismanagement, not just Luna. The big problem with Luna was its algorithmic stablecoin that wasn’t backed by anything solid.
At first I thought Pi was a total scam too. But they actually launched and distributed tokens. It’s sinking now though, could end up worthless just like Luna. I don’t trust the devs.
True, not all altcoins can be trusted like Bitcoin. Most devs just want money from the community, and many projects are just pump-and-dump schemes. It’s risky.
The hype around Pi is unreal. People are going to be disappointed when the excitement wears off. I didn’t believe they’d ever get listed, but they did. Still, waiting for the crash.
Pi’s price just keeps going down. I missed the chance to buy it at 18 cents, and now it’s at 27. Might be worth buying a bit if you’re in for the long haul.