Topic: Crypto crash (LUNA/UST) (Read 502 times)

The upside of Luna crashing, and of course UST crashing as well, is that people are now looking at the stablecoin market with a grain of salt. That was a very very important thing that needed to be done and I am glad that it is done. We have to realize that the best thing to do right now is to look at those USDT and USDC markets and make sure that they are actually backed. I know that many people trust them, but you can never be guaranteed. Sure some billions were cashed and it was moved like "see, here is the proof" recently, but reality is that until its ALL cashed out, we can never be certain, maybe 10 billion is missing from USDT? How would we know until it goes under there, and unless it crashes, it won't go there. So we should always be careful, its play ball or go bust with these stablecoins.

After what happened to LUNA, where the price fell very drastically and made many investors lose money. This of course makes LUNA's reputation
look bad. After all, in the crypto world, there are quite a few choices of coins that are better than LUNA. So most investors would prefer to invest
in other projects than trusting LUNA again. Because for me LUNA is over, LUNA has failed to maintain their reputation, so we really have to avoid
investing in LUNA. If we don't want to experience losses, then don't be fooled by the LUNA team for the second time, always remember what happened
to LUNA. Do your research and analysis properly to convince us that LUNA is not worth buying.

Since there was a big drop in the luna coin, very many investors have suffered losses, and now the recovery is back in sight but this is not fully we can reinvest because there is no big guarantee that can happen in a short time, and don't be fooled a second time so no matter what happens at the moment we have to use a big analysis and don't easily believe the big profits are waiting for you, it's possible that this is still a trap.

After learn of Lunc's failure do you still believe in Do Kwon? If you believe it then I think it's wrong. Do kwon initiated the new Luna  project which gave lunc holders hope of getting their lost money. But the reality is that the New Luna project has no effect on the funds of its holders. In fact, I read that Binance also suffered heavy losses due to Luna/Tera.  They also give hope by re-releasing trades. But it seems that until recently Do kwon's new project many did not believe it. Because of that bad history. I won't hold the luna even if I have a little Lunc when the price is ruined. 

I thought there was no possibility that it would happen again, everything was over. now the new Luna has returned to freefall in price, nothing can be expected anymore.
all this is going on is a risk when it comes to buying a coin that is nearly destroyed and hoping it will come back high and reap a lot of profit, much like gambling.
I am also one of Luna's coin holders, all has happened. the only way is to forget Luna and try to take advantage of the other coins there is no need to pity, and also no need to drag on all this.

It's quite unfortunate to those that have bought the old Luna/classic Luna when the price crashed and hoping to get a great amount of the new Luna when it was released and then they realized that they could only get a bit of V2 and they lost a lot in the process. It's kinda hard to tell whether the new Luna will become expensive just as the old one did, before the crash ofc. And it's scary to think that a coin as big as Luna could become like this in a short time, makes you wonder what other major coins might go down the same road.

Whether it's the new Luna or the old Luna, I think it's over, everyone who holds both versions of Luna has lost. Yesterday, Dokwon officially closed his Twitter account, ending all hopes of Luna holders.

Honestly, Luna's crash is worse than what bitcoinnect did in 2018. Bitcoinnect is a ponzi scheme and has had a lot of warnings and no surprises with its death but Luna is different, a potential rated coin, top 20 on CMC, but in just a week the value has dropped to almost zero. This has never happened before with cryptocurrencies, is a shock to the entire market.

People are committing suicides and "Stablekwon" is still on freedom, starting his new ponzi/scam.

It seems like he has thrown his money. I do believe at the time before the snapshoot and people were massively buying luna classic to be eligible for the airdrop but im sure if he was also a part of solana holders as well. It's too late to give him awareness about that as this thread already a month ago. This time so many things changed and we have two luna in the market that issued by the same developers. I can only speculate if he has received his new luna.

It's over man.  Why on earth would anyone put money into that project right now?  Just move on to something else.  People keep chasing bad money with good money and get burned.  High risk, low reward. 

Please tell me you aren't throwing your money at this garbage when you could be buying bluechips like IOTA, XLM, 0xMR and ICP at record low prices. Please don't do this.

They do not even have those billions of dollars to make it come back, not only they won't do it but even if they were actually a decent team that wanted to legit make it come back, they do not have the money to make it come back. Look at Luna right now, the new 2.0 version, the price dropped from near 20 bucks levels to under 7 bucks again and that is without the money being in the circulation too much and listed everywhere.

I promise you, the moment team starts to distribute that and let it be, the price will crash even harder. That has been the case for almost every single project that tried to make a comeback and it will be the case here as well.

We need an investigation to prove the real case, but I wonder why Do Kwon wasn't summoned to give a statement to the court, so we won't believe Do Kwon's talk about the luna price crash.

They can't get back their investment. I just called that if the new token just like a free cash. Even investors will not able to recover their money again. They lost what they have. Some people even end their life caused by they have been loosing all of their money. This coin can'e be trusted anymore. Its CEO think that if all of power owned by him and he was deciding what he was thinking if it's right thing.
This is not how decentralized community work.

The only reason there are still some people who would like to "trust" the team is the fact that they are hoping for a better return than what they would normally get in an unusual situation. Obviously its not going to be that simple, but at the very least they would be doing a bit better that way. This should be the case for most investors at least, they do not really trust it, but they know its unusual situation and if things go unexpectedly well then they have a chance to make more money here than anywhere else so it worths the risk. I believe it doesn't, I believe it will crash, but that would be only known with time.

Why would people do still trust up with this team? If we've been seen on what happened on Terra core coin project then i dont see the reason that it would be still worth to trust up this project once again.

People do really love to play with fire even if its already obvious.Now they do have that scheme on creating that 2.0 despite of their first coin crash its price into 0USD or 100% decline

and now they are thriving on having new but still people do engage on it  despite of those trust issues which is totally bullshit i would say.

That is also true and I think it is necessary to prove in court regarding this matter,
because if we only accept on one side, namely the terra side, of course they will defend themselves,
What's clear is that we'll see how it develops

Not for the scalpers and speculators. They are still thinking if luna is still worth to buy even when they have lost a lot in their investment. I do see that people are using the new luna as a way to recover. Some people able to recover when they were scalping lunc.

It's all about money. The question is there is still a lot of dumb people who bought it. There might be a hidden agenda by the team. We didn't know the fact caused by the team is who knows about the truth

It's a lesson and should be accepted don't be stubborn, we just lose more money for those scammers. To be able to bring back Luna, the Luna team will have to spend a lot of money even billions of dollars to have any hope of restoring it, but that certainly won't happen. If they wanted to save it they would have found a way as soon as Ust started losing pegs instead of watching it die.

Maybe the court should examine and investigate what actually caused the drastic price drop, even though there was information from the terra team about price damage but that information was not fully reliable before the court confirmed the news.

buying LUNA v2 at this time is a stupid thing imo. do kwon has become a criminal and the LUNA crash case is being closely monitored by the court.

https://coinmarketcap.com/currencies/terra-luna-v2/markets/ binance has re-listed LUNA v2 and the trading volume is quite large. I don't know what's the scenario behind all this.

We must stop to analyze from speculations that are not based on market analysis, many speculations lead investors to wrong investments because they do not have market analysis knowledge, so it is better to switch to investing in potential coins than wanting to bet to profit from speculations on Luna price increase.

The release of the new Luna coin only harms many new investors because they speculate for profits at the price before the Luna crash, actually speculation is not right, so don't invest in coins that are very risky because you might also feel big losses like the previous Luna holders.

After a 99% reduction and now they are getting back on their feet and want to attract investors who have previously decided to leave luna, but all will not be easy to happen and now luna has become a new shitcoin and has not fully returned many enthusiasts for the foreseeable future, buying luna at this time there are big doubts that we feel but all need patience in responding to this project for the future.

i think it's crazy how some people are still buying Luna1 and version 2. People will buy anything if they think it might pump. I consider it gambling. I prefer steady staking rewards from POS projects like NEAR and ICP compared to rolling the dice on meme coins.

A bit curious about that, is not it hot-wallet that related to the exchange site? I just got the latest news from the korean government https://watcher.guru/news/korean-police-have-taken-measures-to-freeze-luna-foundation-guard-assets

So those bitcoins are still untraceable. I meant so many speculation if that address was related to the luna LFG fund address that being stored by kwon but there are also people said that if that was a hot wallet that owned by exchange site.
I don't know which was the true story about such address but this is quite confusing.

the chance of it becoming just shitcoin is 100% because it already is a shitcoin, it's already getting abandoned by the devs behind it, since they already ran out reserves for saving this UST and LUNA
and even if there is sudden bullish run it just gonna stay below $0.01 considering its supply as well, it's just clear that LUNA has become the new shitcoins, I think in the future we just gonna be seeing more and more market delisting this coin
after all we aren't really lacking coin like LUNA and UST in the market, the investment gonna finds new better investment and LUNA just gonna reducing in market capitalization overtime.

If more government sanctions will be put into Do Kwon and its foundation, there will be sure actions like this of delisting into major exchanges.

But as of now, they've allowed the trading of it because of the commissions that exchange will be getting from them and they can't just ignore it as a business.

So, if there's an order from higher authorities that they have to delist it, that's where they'll take action. For now, they'll just put a sign that be careful of its extreme volatility as you trade.

Though some exchanges are listing back LUNA on a different pair though since those exchanges also hold some LUNA and in order for them to dispose it, they should list it again. There’s no new hype with LUNA and that’s why its price will not pump again, though many are waiting for the up coming update, I don’t think its enough to make LUNA pump again, that’s too risky to buy LUNA again so stay cautious.

As we could see know, DoKwon recently like real fraudster and enemy of Terra community:
1) he transferred 80K BTC of Terra crypto-reserves  to crypto-exchanges, but this amount was not used to buy out equivalent amount of assets  UST&LUNA  to support prices of previously issued assets against Us dollar (https://www.elliptic.co/blog/what-happened-to-the-3.5-billion-terra-reserve-elliptic-follows-the-bitcoins), only making  oral intervention "we under attack", "we buying out" , thus he provided fake support of Terra ecosystem,
2) he allowed for LUNA supply to increase above Genesis Liquidity of 1B (as fixed in Terra Money docs), and in situation of sell-run and fake support, it leads to that large amount of UST were burnt on chain against LUNA creating hyperinflation of LUNA; thus he diluted  the value of LUNA coins up to zero, imposing  near 40B dollar losses on community members and investors ,
3) he deleted from "Passed" section of TerraStation the passed voting proposal #1188 regarding burning both UST and LUNA tokens (https://www.youtube.com/watch?v=3LDBaUjO2Pw),
4) he created and now pushes forward proposal №1623 to suck all investors and to issue new 1B of luna-coins for your team and devops.
5) he deliberately uses misleading wording like "attack"/"per-attack" as if there was some UFO attack on Terra, just to obscure the fact that hiding 80thd BTC on Gemini/Binance exchanges instead of using them for buying out assets UST&LUNA  IS  THE ONLY ATTACK he perosnally executed against Terra ecosystem!

We need to clearly understand -  as far as BTC reserves amounted by TerraLab during selling of UST&LUNA assets to investors were not used to buy out these assets to support its prices against US dollar, it could be understand that DoKwon just stole this amount of Bitcoins from Terra ecosystem.
You could find out detailed investigation with Bitcoin bc transactions here: https://www.reddit.com/r/terraluna/comments/us4v5m/

You are right! Recent funding shows that DoKwon deliberatly crashed UST&LUNA in order to pocker-out 80K of Bitcoins.

Right, The crypto market is huge and we have a lot of choices that are a hundred times better than Luna. I think people who lost money in Luna's accident should learn to forget about them and find another opportunity instead of expecting it to come back. It's really hard because it's everyone's savings, sweat and tears but accept the truth and start over instead of brooding. Many people have come to a standstill when investing in UST to enjoy 20% interest. This is the dream interest rate of many people, unfortunately it is a disaster.

I agree. I haven't actually seen a coin or a token that was able to recover from such a fall. That is why I also don't think Luna will ever recover no matter what kind of strategy they are planning to do. So it is much better to just find some other good coins than just focusing on Luna and waiting for any updates they might bring. We are currently in the right time to find some new good coins and invest in them and just accept that Luna will never recover. It's very painful to see people lose a huge amount of money in the crash, heard a few people invested a lot of their savings in there and now they are having problems with how to get it back. I feel very sad for them and for their families.

It's possible. The price dumped to the even less than zero value. This coin is not possible to increase but it's possible to get another zero again. I think that talking about luna is wasting your time right now if you have more chance to invest in a better token in the market. The era for luna already ended. No reason for this token to go up again even with the new fork. The price will always be plunged so hard. this is the reality that's really hard to accept by any holders of luna

It would be very painful if you had to trust Luna again at this point, especially if you could lose a second time with Luna which means being stuck in the same hole, even though there are now many other cryptocurrencies that are better so ignoring Luna is a very good thing now

it is, and base on the current value itselft in the market it seems almost the end of their journey in the space, because imagine how it feels like a rock until these days. So i wouldn't be surprised if luna suddenly turn into shitcoin afterwards and you know it's a big mistake to trust again, wherein much better to find new projects to invest than assuming there is still a chance for them to recover in the future..

What do you mean about more shares? if you meant about the price and im sure that if you are aware about this too. No chance for luna to go up again. The price dumped alot and binance already announced about the new token for luna but this is making so many people are distrusting the luna project itself. This shit is always become shit. I don't expect someone with bunch of money will help this token. Luna is dead and this is just another story about scam ponzi token right now.
1 million investment goes to the $1 investment.

I think it's true because putting money in one basket will not be enough to guarantee assets to be very safe in it, especially since the asset does not have a stable value like currency in general, so it is clear that the risk is greater when placing it in only one asset model.

well, looks like there's no hope for the two coins anymore. it's really sinking. imagine, hundreds of dollars worth of coins fall into worthless, unlimited supply, stable coins become cheap coins. however, there is very little chance of this project growing again, in fact many people think that this coin is just waiting to become completely worthless. however, this is a very bad thing to happen to popular altcoins.

Big losses have indeed occurred at this time to those who hold LUNA coins, and the most painful thing is that some exchanges want to remove LUNA on their exchange even though the decision was withdrawn because there are some problems being solved by the LUNA team, currently many investors have experienced heavy losses and never get stuck with the coin for the foreseeable future, Although there are major changes that will be made but we must consider as well as possible.

Forget about luna, enough investors have lost a lot of money in Luna. the proposal made by Do Kwon was unable to raise Luna price anymore. One lesson I took from this crime is don't put all your money in one coin because it's quite a risk that we will accept if one day the price suddenly drops 99%.

If I were you, I will leave LUNA and UST and search for the other coins. I will pick bitcoin as my choice and hold it because this time, bitcoin is down again and back to $29k. Instead of choosing Luna/UST, you can search for the other coins or bitcoin as I choose which have more potential to increase higher. But if you still want to buy Luna/UST, I suggest you not to use too big money and only use the money you can afford so when the price still gets down deeper, you will not be too sad.

Talking about the possibility of this token losing even more value in the market is very possible to happen. -100% still nothing. The decimal can go even lower than the current value and so you can see now the market how it was going down again back to the bottom.
Im sure that you can see that easily how the price is gradually dumping back again to the bottom. UST may go to the zero soon.

Market definitely reacting to this situation as well. Luna would go down a ton and it would mean that we are going to end up with something that would be a bit of a problem for everything else as well. I get that it is not going to be that much of a trouble right now as of the current moment but it is definitely not something that would be a problem for that quickly.
We just need to realize that it is not a quick thing that made Luna go down like this, sure the crash was quick, it was a single day that made it go down a lot, but at the end of the day we are talking about something that was coming for a long time and it was obvious to all the people who knew that it would happen. I knew that algorithmic stable would not work and never invested into it for example.

The holders definitely want the winning side, they are already at the 100% lost especially for UST holders if this fork proposal do move as per the revival plan. I guess you'd be right in that stance and I do feel the burn for those who get caught up in this crash, hope everyone will be fine at least and think it's just a money being lost and can still be found.

Such a possibility is always there for crypto (LUNA/UST) after the many declines that have happened to it this year and this makes crypto (LUNA/UST) have to struggle from zero again to be in a very good price and this obviously takes time for crypto (LUNA/UST) at this time.

It's really very slim hope for Luna to be thin, they have lost almost 100% of their ATH. This is completely unexpected for a coin that ranks high on the market cap. I agree that now what do we expect from Luna? Indeed we still hope this will be stabilized again, but are we completely sure of our hopes? I do not think so.

Yes and why not? Just remind you if UST has not pegged. it's not even backed by any assets. The asset that used to peg UST has gone and this will become a useless token for sure. The price of UST already dumped so hard. There's no way for both to recover from the dump. Luna and UST were garbage token since last week. people are only buying both to gambling with the market. This can be a very bad choices for people to invest.
There's no way for luna to recover from the bearish market like this.,

The Luna coin disappointed everyone, as it dump in value in a short period to 99%, but then it pump by a large percentage in several days and then started to return to the decline again to this day. The Luna team is doing its best to revive their coin again, as they have new plans and proposals to compensate Holders of the coin for their losses, but for the luna coin to reach a dollar is illogical, since until today it is still losing its shares in the market and the supply of it has increased to 6 trillion in addition to it has lost the confidence of investors.

Yes they losse more share in market . Becare they have no chance to recover . The total supply of this token is more like 6 trillion this this very huge amount and previous supply was like billion . That's the main reason . If they wanna burn they couldn't effort the fund for this. So I think its true that they will loss more share in future .

what else can you expect from LUNA? this coin is dead and there is no hope for it.. but trading of this token is still on some exchanges, but don't get your hopes up with it, because in a few months it looks like this token will be abandoned by crypto users

If the team behind LUNA will not do anything ASAP then there is no ways this project can survive this week nosedive in the market. Many investors lost their money on LUNA and many affected as well especially those who bought at the top. more Uncertain things gonna happen for sure if this negativity taking too long to resolves.

Is there anyone still trust a stable coin that many people suppose to stick around $1 but now it's goes to $0.08? Honestly I really doubt someone can trust LUNA or UST again after the CEO disappointed them. Many people already commit suicide, some people gambling with the current LUNA/UST price. I think the long term holder already cut their losses and now it's only a retails on the market.

Hard to say if they can still survive this especially if DK will be found guilty of tax evasion and all other cases filed against him and Terra.

Some of the newer investors/traders already opted out after it's getting clearer that the voting is in favor of the fork. Even CZ doesn't approved of the approach taken by the team to solve this issue.

Luna is flawed to its core and the whole ordeal is just a plain disaster.
The real value of it is zero.

May take a bit for people to realise that fact but this is where it is going, at least that is belief as of right now.

I remembered when Luna plummeted from $87 to $10, some people would have invested at some ooint, thinking it will sour back over $50. Some people would have done the same thing when Luna was around $1, all the money invested is now nothing when it got to less than $0.0005. Not new but another lesson from altcoins.

Don't get under impression that because LUNA/UST is down 99% it can't go down even more as this is not the normal situation. A lot of people got rekted by trying to seize this "opportunity" and were buying the dip, thinking that it has to go back up. Well, it didn't and if they bothered to check why LUNA/UST is tanking so hard they wouldn't even try that. After all, there is an old trading rule that says "don't try to catch a falling knife".

My advice is to stay away from it and if you have urge to gamble, go to casino. You will have better chances there.

According to the tweet that I read recently, Terra did not spend their Bitcoin reserve for buy-back just like what they are claiming, Instead it went a cold wallet and just chilling while everyone is in panic. Do Kwon is a master scammer and using this Luna drama to exit scam. He don't have any plan to save UST at the start and now he is claiming that Luna is greater than UST to support i scam fork coin. Jail time is what he deserves.

All the BTC currently sits under this address: 3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6

Source: https://mobile.twitter.com/CryptoOracle88/status/1527325921933266945

Isn't it good enough to learn from the experience of Luna and any other altcoin and invest in bitcoin? talking about Luna as at this moment is not really what listening to because it real identity has been revealed already and it will be better for one to move on with life by investing on bitcoin, while this is the best opportunity in doing that only for those that can see and maximize such opportunity with full complacence.

LUNA is already down like 99%+ mate, what more do you want? But yea, deserves to be literally zero. Do Kwon's literally being bombarded by allegations and court cases right now due to a lot of retail(and institutional lmao) investors getting burned.

The possibility of crypto (LUNA/UST) losing even more shares in the market?