Topic: Luna CEO Taking Lone walk To Luna 2.0 - page 2. (Read 381 times)
This idea is a bad one switching chain will lead to more devaluation of the coin and will just end up making multiple coins within circulation is that what the CEO wants,
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?
His decision is going to be alike as Ethereum Classic and Ethereum.
The existing and older luna will be named Luna Classic (Terra Classic), correct me if I'm wrong. And the new one will be named the same as Luna (Terra).
I don't know if this is going to be an impressive move and will result to a better economy of the Terra foundation and its stakeholders and as well as the investors and holders.
The existing and older luna will be named Luna Classic (Terra Classic), correct me if I'm wrong. And the new one will be named the same as Luna (Terra).
I don't know if this is going to be an impressive move and will result to a better economy of the Terra foundation and its stakeholders and as well as the investors and holders.
Most likely it will happen, the only difference is that a lot of Luna Classic has a lot of holders with an asset of 1M+ Luna which the value might stay at it or might go up in the future. And, I think they will also get benefit if they have two Luna on Terra Foundation since a lot of investors will invest in it.
People have decided to just get it as an incentive will eventually have to sell to cover their losses. Well, many have said that it's not going to work as expected and it's like a compensation for those that have lost a lot of money.
But will that ever be enough? The truth is not but let's see if this is going to amend the suffering of those people that have lost almost everything from it.
Feel curious about what will be the conversion rate since the current total supply of luna is around 7 trillions in the market and how will be 1 billion divided among all of holders in the market? The community disagreed this proposal but since luna doesn't have any money left again and it's so hard to did another refund. The money has gone and people can only hope the new token will have equal price with the old lune when the supply was not so big like this time but yeah im feeling doubt this gonna be happening soon.
Even though Luna is considered to have no money anymore, Luna has now released 3 billion US dollars or equivalent to Rp. 44 trillion in bitcoins in order to save the slumping stablecoin TerraUSD (UST) from being destroyed.
And I think Luna will rise again even though it may take a long time.
Terra Luna is dead and Do Kwon's imprisonment might become a certainty. If I was Do Kwon I would take every coin I have and keep it in a safe place and save them as payment for legal fees which he will certainly need.
Luna's legal team has also quit the project. Do Kwon's own legal team for the project do not want to defend it themselves once the regulators begin their investigations. I hope none of you lost much of your money in this failure.
The in-house legal team at Terraform Labs resigned shortly after the collapse of Terra’s algorithmic stablecoin wrought havoc on crypto markets.
A person familiar with the matter told The Block that legal operations are now being handled by outside counsel.
The LinkedIn profiles of Terraform Labs’ general counsel Marc Goldich, chief corporate counsel Lawrence Florio, and chief litigation and regulatory counsel Noah Axler show that all three stopped working for the company in May — all after less than a year at the company.
Source https://www.theblockcrypto.com/post/147390/terraform-labs-legal-team-resigns-after-ust-collapse
Luna's legal team has also quit the project. Do Kwon's own legal team for the project do not want to defend it themselves once the regulators begin their investigations. I hope none of you lost much of your money in this failure.
The in-house legal team at Terraform Labs resigned shortly after the collapse of Terra’s algorithmic stablecoin wrought havoc on crypto markets.
A person familiar with the matter told The Block that legal operations are now being handled by outside counsel.
The LinkedIn profiles of Terraform Labs’ general counsel Marc Goldich, chief corporate counsel Lawrence Florio, and chief litigation and regulatory counsel Noah Axler show that all three stopped working for the company in May — all after less than a year at the company.
Source https://www.theblockcrypto.com/post/147390/terraform-labs-legal-team-resigns-after-ust-collapse
As CZ stated, the forking of the Terra Luna isn't the right answer for the existing problem. It will only deepen the hate of the people and think of the move as another money grab. I wouldn't buy and stay away from this new fork. This shows how very dull Kwon is towards Luna's investors and supporters.
When some of the most powerful members of the community, like exchanges, give you some advice you better listen, and the CEO of luna is doing the exact opposite of what he was advised by those people, so it is clear that this is just another money grab before moving on and then inventing some dumb excuse about why the forked coin failed and try to get away with his crimes, I really hope the SEC is already behind him as it is incredible that such a huge scam can take place and that this person will not face some consequences for his actions. 
it’s more like he’s just taking a lone walk for some useless effort of regaining back its former glory that’s not gonna happening anytime soon.
I mean what really a fork could do if all the money and holders already escaping from this platform, this gonna hardly increase the value of even the newer forked coin at all.
Luna has become a disappointment and I think that anyone should get over with that truth, anything being done by do kwon gonna results in mundane effort and if any it’s just gonna recover a little of its former capitalization back.
I mean what really a fork could do if all the money and holders already escaping from this platform, this gonna hardly increase the value of even the newer forked coin at all.
Luna has become a disappointment and I think that anyone should get over with that truth, anything being done by do kwon gonna results in mundane effort and if any it’s just gonna recover a little of its former capitalization back.
Feel curious about what will be the conversion rate since the current total supply of luna is around 7 trillions in the market and how will be 1 billion divided among all of holders in the market? The community disagreed this proposal but since luna doesn't have any money left again and it's so hard to did another refund. The money has gone and people can only hope the new token will have equal price with the old lune when the supply was not so big like this time but yeah im feeling doubt this gonna be happening soon.
I think this concept will make things worse than the existing one, it is better to return the UST and LUNA prices to their previous prices, but instead create new problems by replacing the new concept in the network, I am more in favor of improving the existing network, therefore many stakeholders stock run from terra, many cons to LUNA owner's new concept to recover from price drop, he'd better sell 100 percent of his shares to someone else, where the right people in developing LUNA terra, create new problems to cover old problems, if this is crazy concept from LUNA owner, it's not profit, but loss for LUNA asset owner.
His decision is going to be alike as Ethereum Classic and Ethereum.
The existing and older luna will be named Luna Classic (Terra Classic), correct me if I'm wrong. And the new one will be named the same as Luna (Terra).
I don't know if this is going to be an impressive move and will result to a better economy of the Terra foundation and its stakeholders and as well as the investors and holders.
The existing and older luna will be named Luna Classic (Terra Classic), correct me if I'm wrong. And the new one will be named the same as Luna (Terra).
I don't know if this is going to be an impressive move and will result to a better economy of the Terra foundation and its stakeholders and as well as the investors and holders.
Most likely it will happen, the only difference is that a lot of Luna Classic has a lot of holders with an asset of 1M+ Luna which the value might stay at it or might go up in the future. And, I think they will also get benefit if they have two Luna on Terra Foundation since a lot of investors will invest in it.
...Did you still believing with dev have make many investor losing their money?
If you look closely at other algorithmic stablecoins, you will see that they have the same problem as UST. We saw this earlier with the Waves network's stablecoin, when USDN lost its peg to the dollar, and the same thing is observed now, when the price of the DEI stablecoin on the Fantom blockchain also decreased in price to $0.55. So maybe the problem is not in Do Kwan, but in this kind of stablecoin, which is called algorithmic?
His decision is going to be alike as Ethereum Classic and Ethereum.
The existing and older luna will be named Luna Classic (Terra Classic), correct me if I'm wrong. And the new one will be named the same as Luna (Terra).
I don't know if this is going to be an impressive move and will result to a better economy of the Terra foundation and its stakeholders and as well as the investors and holders.
The existing and older luna will be named Luna Classic (Terra Classic), correct me if I'm wrong. And the new one will be named the same as Luna (Terra).
I don't know if this is going to be an impressive move and will result to a better economy of the Terra foundation and its stakeholders and as well as the investors and holders.
Such a big move by the coun owner to do I different direction from the suggestions of the public for the sake of sanity let the project do whatever it can get back investors who lost so much already.
To upgrade to such a version take longer than we think because this is might just some kind of propaganda to ease the pain of those who lost their wealth due to this ultra volatile project which is not worth it from the start. This is just full trash, if I am one of those guys who lost their investment, I better move on and use the experience I gathered from this event to be careful in my next investment rather than trusting the same CEO who ruined my dreams and suck my savings.
poor solution to a problem of this magnitude. do kwon and the entire luna development team should be able to come up with a better solution than this. releasing new coins, is not a good solution. even cz said that new coins will not help in the end the same problem will repeat in the future. I'm also sure when this proposal is passed, and new coins have been distributed. no one will want to hold it.
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Many people against the fork idea in the telegram group. It seems those who have been loosing their money will never get it back again. The snapshot will actually based on the currenct circulation and i just curious about how many tokens that will be getting by those who bought luna at peak price.
I meant some holders were only having 2 or even 10 luna in their wallet and they have bought these coins when the price was around 100 bucks. Those people will get nothing from this hardfork.
How can those people accept the reality if they have lost all of their money in a week?
I meant some holders were only having 2 or even 10 luna in their wallet and they have bought these coins when the price was around 100 bucks. Those people will get nothing from this hardfork.
How can those people accept the reality if they have lost all of their money in a week?
I see there are still many who do not agree with this proposal. because if this proposal is approved it means luna Founder(do kwon) will be free from responsibility. he only needs to pay compensation to the ust holder and the matter seems to have been resolved. they don't seem to care about Luna's holders, because if new coins are released they will definitely focus on new coins and will leave luna old.
Bad solution when his coin drop or almost become scam give update for launching with Luna 2.0, look he not care about what happen with old Luna coin and never trying how to recovery and make old Luna coin back to ATH again. He only care with how try get much profit and actually when launching Luna 2.0 have ideas maybe with making pre sale again. He has take profit first with old Luna coin with added supply and sell trough price keep going dump. Maybe he need investigating what happen with Luna coin and need some one report him to police about scammer cryptocurrency.
I'm sad that I had just read this when I bought Luna off someone in the exchange. It just lost another 27% of its value, and I think the CEO is not planning to make amends by making the initial holders of the coin return their investments. They are just going to be moved and replaced by another currency. Lol. I hope they make it to a point where they will return or somehow incentivize those who have lost a lot.
It's very difficult to make up for what people expect, that it will be difficult to develop a new coin even if it has the support of the community but it won't do much for the old luna coin holders, but it will be profitable for new traders who just bought Luna at the lowest price. 
It is nice that even if in the crash of the Luna the CEO are still trying his ways or doing his best to revive or at least survive the price of the Luna, I am not sure if it is too late now as many investors really are lost in investment because of the 99% crash in a week.
That there is always a solution even though it's late in my opinion, but we'll see the highest recovery if they manage to do it, lately I've been actively monitoring Luna progress because they have support from CZ and recently Valitalik also provided a solution for Luna. 
It is nice that even if in the crash of the Luna the CEO are still trying his ways or doing his best to revive or at least survive the price of the Luna, I am not sure if it is too late now as many investors really are lost in investment because of the 99% crash in a week.
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