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.
Topic: Luna holders will get new token. - page 5. (Read 1095 times)
It's only a tweet from the stable chen but the result actually depend from proposal. I think that even the new token will actually useless but this a better idea rather than still tried to use the old token. As far as i know luna has no burn mechanism. This means if this need to use its reserved funds to burn the money. But i think that terra luna was not also a profit oriented business and using burn mechanism like binance will be so difficult. It's not always generating profit like exchange site
The new token may look good but based on CZ of Binance it will not work and it's useless
Quote
“This won’t work. – forking does not give the new fork any value. That’s wishful thinking. – one cannot void all transactions after an old snapshot, both on-chain and off-chain (exchanges).”
We actually have to give credit to CZ because
Quote
“If we didn’t push the issue, the Terra blockchain may still be in “halted” mode, or worse with super minting…”
I think CZ has a better strategy than Do Kwon he should step down as a CEO because he did not acted wisely at the time it needed the most.
And as of this writing
Quote
No proposal has been selected by validators as of yet but the community continues to debate via the Terra forums.
Maybe they can finalize one in the coming week.
It's only a tweet from the stable chen but the result actually depend from proposal. I think that even the new token will actually useless but this a better idea rather than still tried to use the old token. As far as i know luna has no burn mechanism. This means if this need to use its reserved funds to burn the money. But i think that terra luna was not also a profit oriented business and using burn mechanism like binance will be so difficult. It's not always generating profit like exchange site
We all should just face the fact LUNA has misstep in their journey, it would take a while to see them back aftermath of losing so much of their prominent investors. It just doesn't look reputable anymore.
Despite of its current hype, I also believe that LUNA already failed but of course there's still a chance for them as long as there's still a buyer that believes on them, they can still survive in the coming years if they remain active. LUNA was a great one, this is unexpected event for them. We should learn from this, any project are possible to have a scenario like this, but since LUNA is very problematic, the drop is very fast for them. $1 with LUNA seems impossible right now, I wonder what will be there solution on this problem. 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."
I have luna bought from the crash and I support CZ of Binance for coming out with that kind of statement he has more concern than Do Kwon, you don't leave behind those who still trust and rescue your project you make a plan that will regain support from old investors and get new support from new ones like us who bought when Luna was crashing.
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
The maximum supply factor is very influential on future price developments, so the team should have determined the maximum amount of supply from the start because the maximum supply factor will become a bad boomerang that can damage the project itself even though other parties do it indirectly.And this kind of issues will want the government to step in and stop this. Just too bad that we hear people taking their lives because all of their investments are gone. So the CEO must take responsibility from all of this. But not sure what kind of justice and punishment should he got. This is one of the biggest frauds or scams, or whatever you call it and just so happen that we are in a bear market that makes this a double black eye for investors.
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
The maximum supply factor is very influential on future price developments, so the team should have determined the maximum amount of supply from the start because the maximum supply factor will become a bad boomerang that can damage the project itself even though other parties do it indirectly.It is always so tempting for new investors to try and catch a falling knife or look to profit from the Phoenix flying out of the ashes of a dead project. However, Luna was a failure for a reason. It was never going to succeed because it had a faulty structure behind it. Sure, people may hop in and ride the dead cat bounces to a little profit, but the damage done to the ecosystem is enough that no serious money will ever touch Luna again. If there is another pump in price, it will be so the billionaires can recoup some of their losses by dumping on the quick profit chasers. Don't fall for it. If you insist on jumping into this swap, don't stay long enough to acclimate yourself.
There's a new hype recently in my group, telling people to buy now since they saw a 1000% pump, I agree that its too risky and that could be a dead cat bounce better not to stay long with LUNA if you are going to catch the price. This project is a failure, though many says there's still a chance if they are able to solve all the problem but I think it will take years before we saw that recovery, if the team still working for that, it can be a good sign.
We all should just face the fact LUNA has misstep in their journey, it would take a while to see them back aftermath of losing so much of their prominent investors. It just doesn't look reputable anymore.
It is always so tempting for new investors to try and catch a falling knife or look to profit from the Phoenix flying out of the ashes of a dead project. However, Luna was a failure for a reason. It was never going to succeed because it had a faulty structure behind it. Sure, people may hop in and ride the dead cat bounces to a little profit, but the damage done to the ecosystem is enough that no serious money will ever touch Luna again. If there is another pump in price, it will be so the billionaires can recoup some of their losses by dumping on the quick profit chasers. Don't fall for it. If you insist on jumping into this swap, don't stay long enough to acclimate yourself.
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.
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.
If they will continue to burn their supplies, most probably LUNA can go back first to the price of $1 but it will be a hard scenario to achieve, though little by little if there’s a new investors that still believes on LUNA anything is possible. Beside, the team is not leaving LUNA yet and they are really trying to figure things out and hopefully they succeed on this. I’m gonna put LUNA on my watch list for now and have some as well, I can still see LUNA to be good again. 
Quote
The community is deciding on a new @terra_money between restoring a snapshot prior to attack, removing TFL, fully collateralizing UST and drafting & deliberating new mechanisms for $LUNA.
We must salvage the remaining value in the ecosystem & community and rebuild the right way
We must salvage the remaining value in the ecosystem & community and rebuild the right way
https://twitter.com/stablechen/status/1525023238895837184?s=20&t=-1WYQPCBM04n8tee6cBwQQ
If they are really doing this that means luna holders from pre-attack will get new tokens but what about those who buy later on exchange. People lost money when prices were continuously declining too. They didn't tell their community not to buy before UST repeg in its standards. I also heard rumors that Do kown short his luna to recover the loss that he took by selling his BTC in losing which accelerated the process more.
Luna lose his credibility and all who took any loss should get compensation.
There is no roll back happening. At which point will you roll back? People bought this coin on exchanges and sold them to other pairs. It's impossible to rollback now.
Secondly, i believe Do kown is responsible for all this, rather he is actively involved in this to get more money out of this incident. Scam planned at a bigger level.
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.
Actually getting new tokens is not enough for the profit from the entire loss.why the unfinished Luna was get into the market.Actually it was the clean blunder from the team.Why they playing with our money.It’s real time and not a joking.Optimism is good,but making in the scam coin will not work in the good manner mate.
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."
Terra's CEO is a Korean or some other Asian citizen, so I don't think the SEC can do anything about what's going on. Most likely they can just stop any activity with that coin in the US, but no more than that. But the fact that this person has to answer for what happened is obvious. But it seems to me that either the investors will find him and cripple him, or nothing will happen at all.
If try to change new coin and smart contract address most lucky with the owner and developer, actually have news with Singapore come from by developer because have issues with police investigation after several investor report the owner. Better not try with some project have got scam and give the another chance, actually he will happy when getting second chance and try to scam you again. Left Luna coin coin and looking for other coins investing because have thousand trusted coin for investing except with Luna.Some people said exactly these words until this disaster happened to Luna. I mean you can never know when some coin and token will moon or go down to zero. Cryptocurrencies are high-risk investments and everyone should understand what consequences they can bring to your portfolio. I read a twit from some guy who held about $1.8M in TerraUSD. Too much. Nobody cancelled diversification.
Terra's CEO is a Korean or some other Asian citizen, so I don't think the SEC can do anything about what's going on. Most likely they can just stop any activity with that coin in the US, but no more than that. But the fact that this person has to answer for what happened is obvious. But it seems to me that either the investors will find him and cripple him, or nothing will happen at all.
If try to change new coin and smart contract address most lucky with the owner and developer, actually have news with Singapore come from by developer because have issues with police investigation after several investor report the owner. Better not try with some project have got scam and give the another chance, actually he will happy when getting second chance and try to scam you again. Left Luna coin coin and looking for other coins investing because have thousand trusted coin for investing except with Luna. 
Quote
The community is deciding on a new @terra_money between restoring a snapshot prior to attack, removing TFL, fully collateralizing UST and drafting & deliberating new mechanisms for $LUNA.
We must salvage the remaining value in the ecosystem & community and rebuild the right way
We must salvage the remaining value in the ecosystem & community and rebuild the right way
https://twitter.com/stablechen/status/1525023238895837184?s=20&t=-1WYQPCBM04n8tee6cBwQQ
If they are really doing this that means luna holders from pre-attack will get new tokens but what about those who buy later on exchange. People lost money when prices were continuously declining too. They didn't tell their community not to buy before UST repeg in its standards. I also heard rumors that Do kown short his luna to recover the loss that he took by selling his BTC in losing which accelerated the process more.
Luna lose his credibility and all who took any loss should get compensation.
Luna's topic is very popular in the Crypto space its everywhere and you have a valid question, there are more buyers when it's crashing than in all of its existence, checking on the exchange many are still trading and engaging in buying and selling it, it's very speculative now, what Do Kwon will announce will have an impact on the price, you could lose big and win big trading it now on exchanges, the next announcement will have a huge impact on traders now, so only invest what you can afford its an advice that's very true now.
For speculators, this is now the best coin to trade. The printing press stopped, so prices began to rise. But while trading is active on several major exchanges. I'm very interested in how much the price of UST can rise.
Anyway mass media reporting the SEC got interested in the recent fall and started an investigation against Terra's CEO.
https://bitcoinethereumnews.com/technology/waves-stablecoin-crash-sparks-death-spiral-fears/
Are you sure Terra's CEO is to blame?
Or do you think that Sasha Ivanov is to blame for Neutrino USD problems?
They are not idiots to shoot themselves in the foot.
The SEC will definitely sort out the situation, in a place with those who made this situation..
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.
Jump to: