Investment is a very risky thing that when done right, the investor s seen as a genius but when done wrongly, the investor is seen to be a foolish person. So this balls down to the question, do you think that luck is important in investment? Will you consider Luna Classic & UST investor foolish or just unlucky? Would you consider FTX investors lucky or just foolish? You can’t say they are foolish and ask, why didn’t they do their own research because, most of us was convinced that Luna and FTX was a great investment. I didn’t have anything against Luna, I didn’t know about it, but I was pretty confident it was a good investment because lots of people were talking about it and it was trending. Especially when we get publicly updated about the assets being used to back Luna Classic and UST.
Same thing goes for FTX, but this time I was invested in FTX, I had some assets in FTX and bought some FTT and staked. I was rooting for FTX and loved the exchange so much, I was doing the marketing myself. But fortunately for me, weeks before the FTX I unstaked my FTT and sold, then removed my assets from FTX. That was a very lucky act right there, unfortunately we have a lot of people that fully trusted the platform they didn’t remove their assets from the platform and got rekt. The first time I heard the news about FTX & Alamenda insolvency I doubted it, because, I couldn’t believe that SBF could be insolvent. I was lucky enough to had get out of FTX before the collapse, but a lot of people were not lucky.
In my opinion, luck is so important, utility and use case of an investment is important, but we have seen a lot of projects that had great utilities and usecases that have collapsed, like the Terra ecosystem. The reason the Terra eco system is a failure today is because, the blockchain started minting more tokens than usual, increasing supply where there was no demand. Whenever you want to make an investment decision and someone tells you to do your own research, it’s a good advice but that doesn’t guarantee it. You still need luck, because you can do your own research and everything checks, invest and still get rekt. Because, the devs were being shady and insincere.
While doing your research about any project and investing, also pray for luck because it’s important, you are not the smartest or the best person when investing, in as much as you did your research, you were also lucky. Well this is just my opinion, what do you think?