Crypto Gamble on Luna

The idea of winning a lot of money with just a little bet is probably more enticing than the come-hither look of some random stranger in a bar. That is probably the reason why Las Vegas, Reno, and Monte Carlo elicit palpitations in a lot of gamblers. Where else can you get a potential 100x on your “investments”?

I am not a gambler (or I'm just in denial), but I took a bet on a once-promising crypto-altcoin Terra (Luna). One of my blogs discussed what happened to it, so try to read it first. When it dropped its value to -99.99%, I immediately placed an order for a few hundred thousand tokens. Mind you, that was an inexpensive gamble. I just used enough money to buy a nice meal. An amount I wouldn’t mind losing.

There is little chance that it will recover. It is now rebranded as Terra classic and a new crypto coin was created instead. The good news is that original token holders will get an airdrop for the new Terra 2.0. It has already seen a peak of $35, which is not bad. All of my Terra Classic is with my trading platform and I am still waiting for my airdrop. I also don’t have any idea how many I will get.

If my rough and optimistic calculation is correct, then I should be able to get a few hundred tokens. But I am probably wrong since I suck at math. So, will I be able to buy a shiny new car after a few months? Or should I just have spent it on a juicy piece of steak? I'm still waiting for the roulette to stop.

Update: I have seen the airdrop calculation and I should have just bought a nice dinner.