Dogecoin (DOGE) co-founder hopes the crypto community will learn from the failures of Celsius, LUNA, and Three Arrows Capital.
He also cautioned about the possibility of more financial turbulence ahead.
DogeCoin (DOGE) co-founder, Billy Markus, is optimistic that there are some valuable lessons to be learned as a result of the hurdles being faced by crypto hedge funds and projects due to the ongoing bear market.
Crypto Community Should Learn from the Failings of Celsius, LUNA, and Three Arrows Capital.
Mr. Markus, also known as Shibetoshi Nakamoto on Twitter, hopes that the crypto community will learn from the failings of Celsius, LUNA, and Three Arrows Capital. He said:
Assuming we have a new bull run after this crypto winter, could we all collectively learn from the failings of celsius, luna, and 3ac, and y’know, actually listen to people when they call out systemic risks instead of bullying people into silence because it helps short term bags.
Are Investors Doomed to Repeat the Same Mistakes Forever – Shibetoshi Nakamoto
In another Tweet, the co-founder of Dogecoin wondered whether investors learn any lessons from ‘getting burned’ in the markets or are they just ‘doomed to repeat the mistakes forever.’ Mr. Markus likened the ongoing sell-off to 2018 and 2014, hinting that crypto traders should have connected the dots regarding the current market environment.
He was responding to another Tweet where crypto-community member @NickBalazs likened the high returns promised by the crypto projects of LUNA and Celsius as being more significant than Bernie Madoff ever promised.
A screenshot of their conversation on the behaviors of investors can be found below.
More Financial Turbulence Ahead, But We Will Make it Through – Dogecoin Co-founder.
In another Tweet, Billy Markus cautioned that the markets had more pain ahead. However, he was optimistic that ‘we will make it through’ if we kept ‘learning’. He explained the ongoing global macro-economic situation as follows:
man, we’ve had an excessively dumb last few years, huh
things are pretty mediocre right now and we’re gonna hit some more financial turbulence ahead it feels like, but we will make it through
just keep learning, keep working on yourself, keep improving