Topic: Luna holders will get new token. - page 4. (Read 1068 times)
I have heard this campaign through various means. Many are saying that those who bought and invested in Luna High will be given back Luna.But how true it is is not yet well known. But anyone will take action Maybe Luna is in this situation today due to the negligence of the team. I will blame all the team for this Terra Luna going to this position.If every investor is backed up then every investor must be saved from loss.
In this case, those who bought the coin before the excessive issue occurred will suffer. I support such a plan, which was outlined by Do Kwon, the CEO of Terra creator Terraform Labs: https://agora.terra.money/t/terra-ecosystem-revival-plan/8701, and is that it is necessary to roll back the blockchain to the moment when the issue of Luna amounted to $ 1 billion.
They could "rollback" to when things were good, but that doesn't mean that they will get what they wanted out of this. People should realize that they already spent so much to keep UST pegged, and that will result with a situation where people who ended up buying/selling during these past few days when it dropped to be angered, and anyone who will get it after the rollback will end up selling it as soon as it hits their pockets, so there is no scenario where it keeps high.So, only reason Do Kwon even trying this is that he wants to print even more and try to keep UST pegged. If your system failed, it's failed, no reason to keep on trying it.
Everyone buying Luna haven’t done any research you see they keep adding coins and lowering the price this morning they had 700 millions coins in circulation now they’re up to 6.5 trillion and market cap is back to 40 billion instead of what it was this morning at 2 billion they are just stealing from us
This is what I have been telling people i know. Buying on the down is normal, but what many people, including me, did not know is that while we were buying, they diluted the hell out of LUNA value by increasing the number of outstanding coins to almost 6.8 trillions... yes, trillions... from their existing 764 millions:
5/11/22: added 1.8 billions
5/12/22: added 185 billions
5/13/22: added 6.7 trillions
If a company wants to increase the number of outstanding shares, they would announce the board recommends it, but still goes thru the process to get shareholders to vote. Not here, Do Kwon and his board just quietly did it... Maybe there are people who got this news early, but we only found out late on 5/13. Had we known on 5/12, we would not have bought. Just dividing market cap before the attack (when it was at $80 x 764M coins) by 188B coins at the end of 5/12, we would realize it's shitcoins... wouldn't even need to wait for 6.7T more on 5/13. Looks like a big scam to me.
Will whale holders lose all money they invested in to $UST or $LUNA because Luna Foundation Guard prioritizes to compensate smallest investors first with the left-over of their reserve?
Will whales, exchanges let it die after the compensation and see their own money vanish?
Will exchanges want to see the death of $UST and $LUNA that potentially triggers a more strictly regulation from governments and a superb bear market? Then they will lose more income from crypto market
To remedy the market, they will cooperate and rescue Terra for their own benefit.
Will whales, exchanges let it die after the compensation and see their own money vanish?
Will exchanges want to see the death of $UST and $LUNA that potentially triggers a more strictly regulation from governments and a superb bear market? Then they will lose more income from crypto market
To remedy the market, they will cooperate and rescue Terra for their own benefit.
https://twitter.com/LFG_org/status/1526126703046582272
"1/ As of Saturday, May 7, 2022, the Luna Foundation Guard held a reserve consisting of the following assets:
· 80,394 $BTC
· 39,914 $BNB
· 26,281,671 $USDT
· 23,555,590 $USDC
· 1,973,554 $AVAX
· 697,344 $UST
· 1,691,261 $LUNA"
May 16, 2022
https://twitter.com/LFG_org/status/1526126708193054721
"4/ LFG:
· Directly sold 26,281,671 $USDT & 23,555,590 $USDC for an aggregate 50,200,071 $UST
· Transferred 52,189 $BTC to trade with a counterparty, net of an excess of 5,313 $BTC that they have returned, for an aggregate 1,515,689,462 $UST"
May 16, 2022
https://twitter.com/LFG_org/status/1526126716388749313
"8/ As of now, the Foundation’s remaining reserves consist of the following assets:
· 313 $BTC
· 39,914 $BNB
· 1,973,554 $AVAX
· 1,847,079,725 $UST
· 222,713,007 $LUNA (of which 221,021,746 is currently staked with validators)"
"1/ As of Saturday, May 7, 2022, the Luna Foundation Guard held a reserve consisting of the following assets:
· 80,394 $BTC
· 39,914 $BNB
· 26,281,671 $USDT
· 23,555,590 $USDC
· 1,973,554 $AVAX
· 697,344 $UST
· 1,691,261 $LUNA"
May 16, 2022
https://twitter.com/LFG_org/status/1526126708193054721
"4/ LFG:
· Directly sold 26,281,671 $USDT & 23,555,590 $USDC for an aggregate 50,200,071 $UST
· Transferred 52,189 $BTC to trade with a counterparty, net of an excess of 5,313 $BTC that they have returned, for an aggregate 1,515,689,462 $UST"
May 16, 2022
https://twitter.com/LFG_org/status/1526126716388749313
"8/ As of now, the Foundation’s remaining reserves consist of the following assets:
· 313 $BTC
· 39,914 $BNB
· 1,973,554 $AVAX
· 1,847,079,725 $UST
· 222,713,007 $LUNA (of which 221,021,746 is currently staked with validators)"
I think This is good news for those that held to their luna till now .Tim Luna is working hard for everyone for their loss. Very good. But, on the other hand, this has no effect on those who haven't bought Luna and if it works is an example of an effective form of responsibility in action.
...So, what should they do? Just use all they have, and I mean literally everything they have and throw at it buying UST and Luna and just burn it as soon as they buy it, which would make the supply limited. I am not saying that it would be easy, it will be quite difficult and even if they do this, they may end up with people who are selling and they may never recover but they need to at least give it a try to see what happens.
In this case, those who bought the coin before the excessive issue occurred will suffer. I support such a plan, which was outlined by Do Kwon, the CEO of Terra creator Terraform Labs: https://agora.terra.money/t/terra-ecosystem-revival-plan/8701, and is that it is necessary to roll back the blockchain to the moment when the issue of Luna amounted to $ 1 billion.
I do not think it matters whether the LUNA will issue a new token. because it is not going to matter, as the trust between the crypto owner and the potential investors has been broken, so It think no one will invest.
This is absolutely insane.
I can't believe that people still believe Terra is a decentralised ecosystem. Look, all trust is gone now within the system and the remains are not pretty whatsoever. There seems to be absolute authority of Do Kwon to do whatever he wants (including arbitrarily dividing the 1 billion tokens), and no one dares to oppose.
Crazy times. What's crazier is that Luna tokens have pumped 33x since the all time lows, when they should be going to zero.
That is speculation for you, we know that fundamentally LUNA tokens are worth nothing and they should eventually reach a value of zero, but people see the high volatility and they think they can obtain huge profits with it, and they are not wrong as the number of people that think like them is very high.I can't believe that people still believe Terra is a decentralised ecosystem. Look, all trust is gone now within the system and the remains are not pretty whatsoever. There seems to be absolute authority of Do Kwon to do whatever he wants (including arbitrarily dividing the 1 billion tokens), and no one dares to oppose.
Crazy times. What's crazier is that Luna tokens have pumped 33x since the all time lows, when they should be going to zero.
But with such extreme pumps and dumps eventually the money of those speculators will run out and we will finally see the demise of LUNA as it is impossible it can recover from such a catastrophe.
Will see. Yesterday I read the info that a few crypto funds are going to provide a loan to Luna so that they could restore the price of their coin. Donno if this a fake or not.
What do you think, with such an issue, which is more than 6 trillion coins, is it really possible to restore the price to at least $1? After all, in this case, the capitalization of Luna will be more than $6 trillion, while the capitalization of bitcoin is now $500 billion.So, what should they do? Just use all they have, and I mean literally everything they have and throw at it buying UST and Luna and just burn it as soon as they buy it, which would make the supply limited. I am not saying that it would be easy, it will be quite difficult and even if they do this, they may end up with people who are selling and they may never recover but they need to at least give it a try to see what happens.
personally i do not think it is the right way after several attempts to restore the value of the land usd now they are trying to give new tokens, a sop but i do not think that will work the trust of investors by now is lost forever
Yes, I agree . When your assets start at $1,000 and lose to $10 I think how LUNA will think about it and compensate for that. I mean there are thousands of investors who bought LUNA and the question is, how will the LUNA team compensate those billions of dollars?
I think LUNA could rebound towards $1 to $10 in the next few days but to see it as a long term asset, sorry I still don't believe in LUNA and the ecosystem they have built.
I think LUNA could rebound towards $1 to $10 in the next few days but to see it as a long term asset, sorry I still don't believe in LUNA and the ecosystem they have built.
Luna seems unfinished, I am optimistic that Luna will soon enter the top ranking again, they have a strong community and financial support so that they will continue to pump in the near future, I am also optimistic that Luna's investment today is the most profitable thing.
It's because Do Kwon has said a recovery plan and at this time, CZ is also giving some suggestion through his twitter. He said that there's no need to distribute another new token to the users.But what Terra foundation must do is to buyback those excess supply so that the confidence of the investors will come back if that's what they're going to do.
What CZ said makes sense. LFG can easily buy back all the tokens from the exchange by temporarily suspending any kind of deposit and withdrawing. This is necessary to regain the lost trust.
The new token distribution plan is totally messed up because there are people who buy and sell multiple times at a certain level. Like when luna went down my first entry was around 6$. When I saw it is still going down I sell all of it and buy back below 1$ again. There continues a few more times when my initial investment was the same but I increased my token. So how the team is going to distribute new tokens in this situation? It will be messed up when a handful of people will be benefited.
Most of the developers have their own way of making money with their inventions and that's for sure that he did benefit on it. With massive lost of billions, it's impossible that he didn't took his part and share on the said dump.
I don't think they attempted to manipulate the whole market. They only focused on their own project but maybe there is a coincidence that happen that the market is also dropping during that time however I heard that luna founders were selling their btc's.
Their protocol has weakness that they did not realize. The attack results in a snowfall effect which they can not stop or handle well. Their solution for it makes it worse rather than resolving anything.It is acceptable if Luna foundation guard sold their BTC in order to back UST. So far no public and transparent report from Terra team about that. The fear is they did something bad with those BTC.
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Maybe that have contributed a little in the dip. There are still people that will believe on this new token because how many times we see the same people gets scammed over and over again on different shitcoins? Not all are losing millions but on every investments there's always retail investors that will only invest smaller amounts. Their losses wasn't a big deal to them so they will always try again.
Don't expect much about a new token. People who bought LUNA at $1 even in bloodpath. How about people bought it at $80, $50 or $30?They should communicate transparently with community, then ventures can help them with fund to go through this crisis. Buy back and burn need fund and they must to bring belief in ventures that can help them.
So now they want to again manipulate the whole market for their personal benefits again? The people will be fool if they ever come into this trap once more because you have seen the whole LUNA dumping and people losing millions in just two days so who is willing to loose the same way again?
I don't think they attempted to manipulate the whole market. They only focused on their own project but maybe there is a coincidence that happen that the market is also dropping during that time however I heard that luna founders were selling their btc's.Maybe that have contributed a little in the dip. There are still people that will believe on this new token because how many times we see the same people gets scammed over and over again on different shitcoins? Not all are losing millions but on every investments there's always retail investors that will only invest smaller amounts. Their losses wasn't a big deal to them so they will always try again.
This is absolutely insane.
I can't believe that people still believe Terra is a decentralised ecosystem. Look, all trust is gone now within the system and the remains are not pretty whatsoever. There seems to be absolute authority of Do Kwon to do whatever he wants (including arbitrarily dividing the 1 billion tokens), and no one dares to oppose.
Crazy times. What's crazier is that Luna tokens have pumped 33x since the all time lows, when they should be going to zero.
I can't believe that people still believe Terra is a decentralised ecosystem. Look, all trust is gone now within the system and the remains are not pretty whatsoever. There seems to be absolute authority of Do Kwon to do whatever he wants (including arbitrarily dividing the 1 billion tokens), and no one dares to oppose.
Crazy times. What's crazier is that Luna tokens have pumped 33x since the all time lows, when they should be going to zero.
Crazy times in crypto! It's more than insane how people get trapped so easily, and it's not like it's happening for the first time, every year we have similar scam projects that attract big attention with their big and fake promises about fast profit while using words like decentralization, the next big things, and so on!
I am not getting near this and other similar projects, and I advise others to not gamble with them... who plays with fire can get burned pretty heavily!
If there ever was a get out of project time this is it. People that were involved should do anything possible to minimize the losses. Thus I think everybody else should stay away from this as far as possible.
https://twitter.com/cz_binance/status/1525454049512140800?s=21
"CZ 🔶 Binance
Reducing supply should be done via burn, not fork at an old date, and abandon everyone who tried to rescue the coin.
I don't own any LUNA or UST either. Just commenting."
"CZ 🔶 Binance
Reducing supply should be done via burn, not fork at an old date, and abandon everyone who tried to rescue the coin.
I don't own any LUNA or UST either. Just commenting."
In this case, CZ wants to equalize the Luna investors who bought the coin before its dump with those who bought it for $0.0000006. Obviously, Binance bought a very large part of the coins at a minimum price and now, after burning, the first ones will lose everything, and speculators like CZ will actually remain the sole owners of the coin.
https://twitter.com/VitalikButerin/status/1525561624974700545
"Strongly support this. Coordinated sympathy and relief for the average UST smallholder who got told something dumb about "20% interest rates on the US dollar" by an influencer, personal responsibility and SFYL for the wealthy."
"Strongly support this. Coordinated sympathy and relief for the average UST smallholder who got told something dumb about "20% interest rates on the US dollar" by an influencer, personal responsibility and SFYL for the wealthy."
Luna seems unfinished, I am optimistic that Luna will soon enter the top ranking again, they have a strong community and financial support so that they will continue to pump in the near future, I am also optimistic that Luna's investment today is the most profitable thing.
It's because Do Kwon has said a recovery plan and at this time, CZ is also giving some suggestion through his twitter. He said that there's no need to distribute another new token to the users.But what Terra foundation must do is to buyback those excess supply so that the confidence of the investors will come back if that's what they're going to do.
What CZ said makes sense. LFG can easily buy back all the tokens from the exchange by temporarily suspending any kind of deposit and withdrawing. This is necessary to regain the lost trust.
The new token distribution plan is totally messed up because there are people who buy and sell multiple times at a certain level. Like when luna went down my first entry was around 6$. When I saw it is still going down I sell all of it and buy back below 1$ again. There continues a few more times when my initial investment was the same but I increased my token. So how the team is going to distribute new tokens in this situation? It will be messed up when a handful of people will be benefited.
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