Luna CEO Taking Lone walk To Luna 2.0

Ultegra134

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Quote from: fenican on May 26, 2022, 08:23:10 AM

So help me understand this. They are going to create a brand new LUNA, hand out mountains of free coins to any bag holders who got destroyed on their prior investment - which they should have understood was an exceptionally high risk and potentially unstable algorithmic coin - and then expect the marketplace to come in and make all those bag holders whole again?

Excuse me while I die laughing. You would have to be a complete idiot to purchase the new coin on an exchange at anything above a few satoshis. You're basically handing your money over to a massive premine.

Terra Classic has already been launched/rebranded. From what I've understood, the procedure was similar to Ethereum's Classic creation a few years ago. To be honest, I don't see what has actually changed, apart from its name, nor do I believe that it has any chance of even a partial recovery anytime in the distant future. I feel like they're just messing with people.

kaseygriffin

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I don't fully understand the Luna incident, but as an average investor, I find it amusing to see their failure to build investor confidence. Who minted them and dumped them to almost no value and pumped them back like shitcoins, I don't believe in their Luna 2.0 creation, and of course there will be some trick to entice newbies to join or the team wants to bet on the opportunity from it in the near future. Indeed, it is not an exaggeration to say that it is the biggest hoax in the history of the crypto market.

fenican

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So help me understand this. They are going to create a brand new LUNA, hand out mountains of free coins to any bag holders who got destroyed on their prior investment - which they should have understood was an exceptionally high risk and potentially unstable algorithmic coin - and then expect the marketplace to come in and make all those bag holders whole again?

Excuse me while I die laughing. You would have to be a complete idiot to purchase the new coin on an exchange at anything above a few satoshis. You're basically handing your money over to a massive premine.

Hamza2424

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Quote from: Wiwo on May 16, 2022, 04:42:45 PM

The LUNAtic community have been thrown into distress in the late hours of Monday when the CEO of the stable coin DO KWONthat faced the biggest attack in cryptocurrency history in the last week when Luna market price crashed below the trench hold resulting in heavy losses to the stable coin holders, the community hope was beginning to see some light when some top cryptocurrency investors and experts e.g CZ CEO binance and the rest made suggestion of a burn and by a back mechanism in other for luna to make a bounce back. But the LUNA community was disappointed this evening when the CEO announced that the coin will change the chain and forking of the coin many see this as a waste of developers' funds and also minting new coin that will result in a loss of the value of Luna.
Luna 2.0 version will this succeed or it will further destroy the stable coin value I do not think what the CEO (DO KWON) is prescribing will give a lasting solution to the LUNA network.
Source:
https://cryptonews.net/6644139/?utm_source=CryptoNews&utm_medium=app&utm_campaign

Luna can't make it now because LUNA has nothing to sell in its Business model last time UST was there and for now nothing looks intrective my suggestion if you get the Airdrop sell on a reasonable price and get aside and vesting is too long so cant say anything

lobo13hf

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Quote from: MidNite36 on May 26, 2022, 01:32:23 AM

LTC, BTC and Doge, these three crypto projects deserves investors' attention than all other altcoins in the market today,

Is this for real? I thought that if people shall leave the coin like litecoin which has no utility. The value was coming from the speculation only. This has no utility like another token that exist in the market right now. This coin is not deserved billions valuation which was over rated and over valued.

Quote from: MidNite36 on May 26, 2022, 01:32:23 AM

there are some coins that will never get hurt or vanish in a period of time just like the list of coins I have talked about, use your sense to support projects that are well built only.

Lune was pure the developer's fault. The algorithmic stable token that something must be blamed in this case. Any token or coin have the same chance to collapse like luna.

Wiwo

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Quote from: MidNite36 on May 26, 2022, 01:32:23 AM

LTC, BTC and Doge, these three crypto projects deserves investors' attention than all other altcoins in the market today, there are some coins that will never get hurt or vanish in a period just like the list of coins I have talked about, use your sense to support projects that are well built only.

Let me ask you one very simple question, in the last year ago would you have thought Luna will dive down the way it deeds, as long as it is a cryptocurrency project any currency can suffer an attack. You are right with the selection of coins to invest in for long periods of Bitcoin BNB but I can't trust dogecoin for long-term investment.

MidNite36

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LTC, BTC and Doge, these three crypto projects deserves investors' attention than all other altcoins in the market today, there are some coins that will never get hurt or vanish in a period of time just like the list of coins I have talked about, use your sense to support projects that are well built only.

South Park

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Quote from: Ultegra134 on May 19, 2022, 01:41:21 PM

Quote from: btc_angela on May 19, 2022, 11:58:46 AM

Quote from: Ultegra134 on May 19, 2022, 11:50:15 AM

Quote from: keyscore44 on May 16, 2022, 06:05:02 PM

I don't know what Do Kwon intentions are, and even if he wants to fix his mistakes, I will definitely avoid all his projects. I am convinced that a large majority of investors will do this same.
If he wanted to fix the errors that were in the LUNA algorithm, he should do it much earlier.
Unfortunately, but after such a huge catastrophe associated with a whole series of mistakes he made, he will never be able to regain confidence in the cryptocurrency market. In my opinion, he should just change the industry.

That's more likely the best approach. Despite that the whole incident didn't look intentional, it's currently of minimal importance whether it was on purpose or not. Now, I wouldn't trust a single penny to any of his projects, I seriously doubt that any of his recovery plans will have an effect at all. Thousands of people have lost money, including myself, he's not going to compensate any of the losses, and no matter how unfortunate that is, it's understandable, he's not a bank with insured assets, no one forced us to trust him and his projects.

Not sure about it though, it seems to be something fishy going on as there are a lot of news that this might be their plan and there are companies benefited from the catastrophe like there is connivance and insider trading.

He is trying to compensate but we don't know how he will do it. So yeah, if you think you lost your money here so it's better to move on. And hopefully learn our lessons from this.

Fortunately, I managed to swap my UST tokens to another stablecoin before it severely crashed, reducing my losses. I'm pretty sure that quite a few people benefited from the incident and wouldn't be surprised if that also included Do Kwon and his team as well. On top of that, a few hours before the second major crash, Do Kwon was tweeting about his so-called recovery plans and to remain calm, without giving out any valid details that could potentially save UST and Luna, probably to just keep the hype going. It seemed extremely fishy, like he actually knew what was about to happen.

It would not surprise me if he actually knew what was happening and he decided to take actions that benefit himself and no one else, however it is also possible that this was just an attempt to try to control the markets and diminish the impact the FUD was having and he was as surprised as everyone else for what was happening to his project, but regardless of the truth I think luna is never going to recover and people should accept the fact they are never going to recover the money they lost.

Ultegra134

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Quote from: el kaka22 on May 20, 2022, 06:54:36 AM

He is going to be trying his best to keep the few followers he has and try to make it into something much bigger. I have to say, it's going to be quite difficult to do it, and we are going to face what could be crashing of a person along with the coin as well.

Do Kwon will not go down easily, he is not just going to go "oh I used to have a coin that topped at top 10 and then it crashed so hard that I am just a crypto worker nowadays earning a salary and not famous at all", people do not go from those highs to suddenly lows. So, he will try his best until he can't anymore until he is totally gone, and that will hurt him, and all of his followers.

He isn't going down that easy, however, his reputation has been destroyed, unless there was an actual way to reimburse even partially all investors who lost their funds, which is impossible of course. On the other hand, I'm curious whether or not he could be arrested for fraud or market manipulation, since cryptocurrencies are not regulated, because it's something that has been trending the past few weeks.

el kaka22

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He is going to be trying his best to keep the few followers he has and try to make it into something much bigger. I have to say, it's going to be quite difficult to do it, and we are going to face what could be crashing of a person along with the coin as well.

Do Kwon will not go down easily, he is not just going to go "oh I used to have a coin that topped at top 10 and then it crashed so hard that I am just a crypto worker nowadays earning a salary and not famous at all", people do not go from those highs to suddenly lows. So, he will try his best until he can't anymore until he is totally gone, and that will hurt him, and all of his followers.

LogitechMouse

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CZ and Vitalik already said that forking Terra into Terra Classic will not solve the problem they are facing.
Right now, the project as well as Do Kwon is doomed, and I just don't know how they will solve these problems.

Many are already against the forking base on the poll. Overall, they can do anything about the project, but I don't think that investors will invest into it, especially to those investors who saw what happened to the project.

On the other hand though, it's good to see the developers trying to revive the project because if this is a different project, they might just run away alongside the money that they got. I think the best option right now is to just not invest into this project unless you only want quick profit through shorting, and avoid future projects that include Do Kwon as the developer or partner whatsoever.

JeffBrad12

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Quote from: Little_Sister on May 19, 2022, 11:41:09 AM

Luna team is still in trouble but surprisingly they ignore the community for no reason, I think they should collaborate with the community to improve everything but in fact they themselves are very arrogant but don't realize that without the support of the community the luna project will die.

There will always be a reason but it's being hidden by the luna team. They didn't wanna tell the truth about that. Im sure about this, there are so many coincidences that happened with luna during the dump. They are ignoring the community caused by they believe in what they have created for themselves and not for the community. People can know that easily if there will always be a hidden agenda by the team. Even if this is a speculation but remember it's about a lot of money. Money can change everything in a short time.
people that was running a legit project can rug pull it as well.

SilverCoin300

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Quote from: Little_Sister on May 19, 2022, 11:41:09 AM

Quote from: SilverCoin300 on May 18, 2022, 04:50:16 PM

It would be crazy to invest in Luna 2.0. They basically ignoring their community and going ahead with the fork. Even if you still have trust in them, they blew 80K Bitcoins. Why would you invest with this guy?

Luna team is still in trouble but surprisingly they ignore the community for no reason, I think they should collaborate with the community to improve everything but in fact they themselves are very arrogant but don't realize that without the support of the community the luna project will die.

There not going too. This is one where you just have to take your losses if you are a small investor.

Ultegra134

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Quote from: btc_angela on May 19, 2022, 11:58:46 AM

Quote from: Ultegra134 on May 19, 2022, 11:50:15 AM

Quote from: keyscore44 on May 16, 2022, 06:05:02 PM

I don't know what Do Kwon intentions are, and even if he wants to fix his mistakes, I will definitely avoid all his projects. I am convinced that a large majority of investors will do this same.
If he wanted to fix the errors that were in the LUNA algorithm, he should do it much earlier.
Unfortunately, but after such a huge catastrophe associated with a whole series of mistakes he made, he will never be able to regain confidence in the cryptocurrency market. In my opinion, he should just change the industry.

That's more likely the best approach. Despite that the whole incident didn't look intentional, it's currently of minimal importance whether it was on purpose or not. Now, I wouldn't trust a single penny to any of his projects, I seriously doubt that any of his recovery plans will have an effect at all. Thousands of people have lost money, including myself, he's not going to compensate any of the losses, and no matter how unfortunate that is, it's understandable, he's not a bank with insured assets, no one forced us to trust him and his projects.

Not sure about it though, it seems to be something fishy going on as there are a lot of news that this might be their plan and there are companies benefited from the catastrophe like there is connivance and insider trading.

He is trying to compensate but we don't know how he will do it. So yeah, if you think you lost your money here so it's better to move on. And hopefully learn our lessons from this.

Fortunately, I managed to swap my UST tokens to another stablecoin before it severely crashed, reducing my losses. I'm pretty sure that quite a few people benefited from the incident and wouldn't be surprised if that also included Do Kwon and his team as well. On top of that, a few hours before the second major crash, Do Kwon was tweeting about his so-called recovery plans and to remain calm, without giving out any valid details that could potentially save UST and Luna, probably to just keep the hype going. It seemed extremely fishy, like he actually knew what was about to happen.

evilgreed

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It's nice to see that at least the CEO of Terra Luna is somehow trying to revive the project and didn't leave the investors and supporters. Not that he yas any choice but yeah, some still run because of being overwhelmed with the problem and the negativity of the people which is understandable being an investor. I just wish though that the CEO makes the best decisions from now on. His bravery is great but it would also be nice if he'd be able to support his decisions properly having countermeasures prepared if ever some things go wrong again.

diminizio

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It's still not clear how the LUNA v2 ecosystem works, what I want is in the future they really see where the gaps are that their project might get hit again and then fix it as soon as possible. Otherwise, for the second time I'm sure the name do kwon is really missing from crypto or is really being branded a criminal. But CEO luna's good intentions this time must be respected, they are responsible for the attack on LUNA.

btc_angela

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Quote from: Ultegra134 on May 19, 2022, 11:50:15 AM

Quote from: keyscore44 on May 16, 2022, 06:05:02 PM

I don't know what Do Kwon intentions are, and even if he wants to fix his mistakes, I will definitely avoid all his projects. I am convinced that a large majority of investors will do this same.
If he wanted to fix the errors that were in the LUNA algorithm, he should do it much earlier.
Unfortunately, but after such a huge catastrophe associated with a whole series of mistakes he made, he will never be able to regain confidence in the cryptocurrency market. In my opinion, he should just change the industry.

That's more likely the best approach. Despite that the whole incident didn't look intentional, it's currently of minimal importance whether it was on purpose or not. Now, I wouldn't trust a single penny to any of his projects, I seriously doubt that any of his recovery plans will have an effect at all. Thousands of people have lost money, including myself, he's not going to compensate any of the losses, and no matter how unfortunate that is, it's understandable, he's not a bank with insured assets, no one forced us to trust him and his projects.

Not sure about it though, it seems to be something fishy going on as there are a lot of news that this might be their plan and there are companies benefited from the catastrophe like there is connivance and insider trading.

He is trying to compensate but we don't know how he will do it. So yeah, if you think you lost your money here so it's better to move on. And hopefully learn our lessons from this.

Ultegra134

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Activity: 1680

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Quote from: keyscore44 on May 16, 2022, 06:05:02 PM

I don't know what Do Kwon intentions are, and even if he wants to fix his mistakes, I will definitely avoid all his projects. I am convinced that a large majority of investors will do this same.
If he wanted to fix the errors that were in the LUNA algorithm, he should do it much earlier.
Unfortunately, but after such a huge catastrophe associated with a whole series of mistakes he made, he will never be able to regain confidence in the cryptocurrency market. In my opinion, he should just change the industry.

That's more likely the best approach. Despite that the whole incident didn't look intentional, it's currently of minimal importance whether it was on purpose or not. Now, I wouldn't trust a single penny to any of his projects, I seriously doubt that any of his recovery plans will have an effect at all. Thousands of people have lost money, including myself, he's not going to compensate any of the losses, and no matter how unfortunate that is, it's understandable, he's not a bank with insured assets, no one forced us to trust him and his projects.

Little_Sister

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Quote from: SilverCoin300 on May 18, 2022, 04:50:16 PM

It would be crazy to invest in Luna 2.0. They basically ignoring their community and going ahead with the fork. Even if you still have trust in them, they blew 80K Bitcoins. Why would you invest with this guy?

Luna team is still in trouble but surprisingly they ignore the community for no reason, I think they should collaborate with the community to improve everything but in fact they themselves are very arrogant but don't realize that without the support of the community the luna project will die.

hd49728

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Their team don't want to keep developing LUNA version 1 and they don't want to use their money to buy back and burn those tokens over minted after the attack.

It looks like they only care about their money and benefit, the community, Lunatics are left behind.

Novogratz - CEO and Founder of Galaxy wrote a letter on this. They had a big loss in Terra Luna but his advice contains 4 points that I think makes sense to remind people about a good and safe capital and risk management. Should read.

Topic: Luna CEO Taking Lone walk To Luna 2.0 (Read 440 times)