Quote from: bitgov on June 24, 2022, 08:00:59 PM

Luna was a horrible mistake - Two of my friends made the same mistake and they have lost trust on crypto.
They are not ready to invest in crypto ever again - they say they had no idea that they will end up in such disaster. But that is how gambling works.

Bitconnect saw its stud days too and then crashed as well. It was promoted like anything specially among low income countries and became a very popular topic of discussion among the common users in the casino trollboxes too. Then there are these social media friend circles where such coins become circle jerk topics and then all buy it like anything.

Eventually they will all lose and the same cycle will repeat after a few years in another name and in another form. The winner is the person running these scams and not the investors. Chit funds and HYIPs/Ponzis exist in real life while LUNA exists in the internet. No difference between them at all.

Regulation will not stop such projects from being popular. If someone willingly wants to get scammed without doing research on the project they are investing in, why will the government force them to stop?