Terra is not a good coin anymore as it has dropped a lot since the UST/USDT rate crash. Terra's team sold LUNA tokens and issued more LUNA tokens, the leading cause of the severe market crash. They were wrong in their risk management thinking that people bought into UST without thinking about the crash. That is one-way thinking.
Even the way they debug is very subjective and sloppy. They just begged for mercy from the community and couldn't master the lines of code in time. Consequences have been seen. Many people have lost all their money because of LUNA, had some breakdowns, and took their own lives.
Topic: What do you thing about Terra team? - page 5. (Read 921 times)
What happened to Luna can happen to most projects if what I read online was the truth of what happened. I read that Luna depegged to BTC and that caused it lost of trust with its holders. The team took risk by that innovation to try out something new. But it is almost like it completely backfired. If it went positive for them maybe by now Luna price would have go up very well and all holders would be full of praises for the team. In business, risks are everywhere. I do not think the team did anything criminal. It is only a miscalculation.
In my opinion, the Terra Team is to blame for the entire bloodbath. They should have taken a more pragmatic and responsible approach. Things have only gotten worse for the holders.
Well, I don't know if it's just a coincidence that the market went down because of them or it's a perfect timing that the market went down as we're about to enter the bear market.But about blaming them, I'd say that they should be accountable for their negligence and incompetence. They've got a huge project and then a lot of issue had came out and it took quite long before they spoke about it.
In my opinion, the Terra Team is to blame for the entire bloodbath. They should have taken a more pragmatic and responsible approach. Things have only gotten worse for the holders.
I completely agree.
Do Kwon was clearly arrogant prior to the crash and that caused a lot of people to bet against them - probably accelerating the demise of the protocol.
But to be frank, I'm not sure why any investor really saw this as a sustainable investment.
Anyone with a basic economics background and did half-decent DD would understand that Anchor would eventually be depleted of its yield reserves, and if UST depegs slightly, then it would essentially send LUNA to zero (especially if LUNA's market cap is smaller than that of UST).
Because of this investors especially those who lose a lot will check the mechanism of the coin they are investing in it's a very costly lesson but people have to move and hold on to what's left on them.
..... They should have taken a more pragmatic and responsible approach.
And what approach could this be in your opinion? They tried some solutions but it didn't work. I think they should have halted sooner. There are people who have been saying that the whole Terra ecosystem had a flawed design from the beginning but I bet the team and those who fell for the hype ignored that.
Yes Mark301, please tell us exactly what is this more pragmatic and responsible approach?
I think Terra was always a shitcoin but you know what, they were actually more responsible than 99% of shitcoins in the space and still people bought them all blindly.
You shill MyCryptoParadise in your posts,,, I bet you 100% of all the coins shilled there are not pragmatic and irresponsible and yet you shilled them.
In my opinion, the Terra Team is to blame for the entire bloodbath. They should have taken a more pragmatic and responsible approach. Things have only gotten worse for the holders.
I completely agree.
Do Kwon was clearly arrogant prior to the crash and that caused a lot of people to bet against them - probably accelerating the demise of the protocol.
But to be frank, I'm not sure why any investor really saw this as a sustainable investment.
Anyone with a basic economics background and did half-decent DD would understand that Anchor would eventually be depleted of its yield reserves, and if UST depegs slightly, then it would essentially send LUNA to zero (especially if LUNA's market cap is smaller than that of UST).
..... They should have taken a more pragmatic and responsible approach.
And what approach could this be in your opinion? They tried some solutions but it didn't work. I think they should have halted sooner. There are people who have been saying that the whole Terra ecosystem had a flawed design from the beginning but I bet the team and those who fell for the hype ignored that.
Terra is no longer the good coin,you should omit this to save your money.Some people promote the Luna for the huge profit.But they forget the fact that 100$ loss is greater then the 50$ Profit with the half chances of sending money to the investments.Luna was added to the scam list of investment,don’t waste your time for such things.
There's no need to look elsewhere really, The Terra team is the one to be completely blamed here. They failed to react to the market attack (or maybe just didn't do anything about it) and just let the people who bought their coin die off. Putting aside the issue of the coin being flawed in of itself, just the fact that they failed to do anything at all in response already paints them as quite the irresponsible team. Ofc there's also investors at fault for, well, investing but that's something natural in the span of, well, investment things imo.
In my opinion, the Terra Team is to blame for the entire bloodbath. They should have taken a more pragmatic and responsible approach. Things have only gotten worse for the holders.
I also blamed the Luna team because they pegged the Luna coin with the terraUSD, it would have been better for the Luna coin to be away from this peg, which led to negative and affecting results on the Luna price and led to an increase in the circulating supply, also the Luna team did not respond to The community and to the founder of Binance which led to the deterioration of the price of Luna and terraUSD, and losses for investors estimated at billions of dollars, and they were unable to achieve any profits and they completely lost confidence in investing in crypto. 
In my opinion, the Terra Team is to blame for the entire bloodbath. They should have taken a more pragmatic and responsible approach. Things have only gotten worse for the holders.
Of course, there is no one to blame but the team itself. I would say that they become too arrogant and confidence that they think this kind of things are not going to happen to them. But look now, they brought the market down with their stupid move and now they are the one who officially brought the bear market. Anyhow, the damage has been done, rug pull or not, we should be very careful of our investments. 
It will be a different scenario not from what we are seeing right now, they are late in terminating it, but the biggest question is why they did not stop it earlier when many are suggesting they do so, even Binance ask them now they have over 90% of their investor's investment wipe out, there's no way Terra's team can bring back that trust.
Would you trust the team again now that they did a relaunch?
Would you trust the team again now that they did a relaunch?
Why don't they stop the network ASAP? my guess is that they are involved in this scenario. It might happen.
Currently Terra (LUNA) network and ecosystem is completely destroyed, one by one exchanges are starting to remove LUNA from their exchanges, if they relaunch their projects, I'm sure no one will believe them, even if they launch projects with other name. 
I still do not understand how people can keep falling into those scams, it was obvious to me and to anyone with any common sense that such a model was not sustainable and that sooner or later something like this was going to happen.
It seems as if people forgot about bitconnect which was another project that promised huge profits to their investors only to end up like any other Ponzi scam, so I hope the people that invested in those coins learn their lesson and never invest in something like this ever again.
Recently it was revealed that that DoDo guy was the force behind the failed Basis Cash which had the same concept until it got shut down due to regulatory concerns.
Almost forgot that was a thing until it was brought
In my opinion, the Terra Team is to blame for the entire bloodbath. They should have taken a more pragmatic and responsible approach. Things have only gotten worse for the holders.
Correct they are to be blamed for what happened. I hate when teams blame market for what happens,,, and take no responsibility.
But you have to blame investors for losing their money.
Anything promising more than 10% APY is a scam. Does not matter if crypto, stablecoin,,, smart contract coin etc.
Remember, no utility, no value. This was and should have been expected from all investors.
Beware stablecoin promises.
It seems as if people forgot about bitconnect which was another project that promised huge profits to their investors only to end up like any other Ponzi scam, so I hope the people that invested in those coins learn their lesson and never invest in something like this ever again.
I personally can't completely blame the team from Terra (LUNA), because this was an accident in crypto for this year, but it's a different matter if this accident was actually a planned accident on their part. Whatever has happened is irreversible, I can only hope that people will learn more from this matter.
What if the Terra (LUNA) team had terminated their network sooner?
It will be a different scenario not from what we are seeing right now, they are late in terminating it, but the biggest question is why they did not stop it earlier when many are suggesting they do so, even Binance ask them now they have over 90% of their investor's investment wipe out, there's no way Terra's team can bring back that trust.
Would you trust the team again now that they did a relaunch?
I personally can't completely blame the team from Terra (LUNA), because this was an accident in crypto for this year, but it's a different matter if this accident was actually a planned accident on their part. Whatever has happened is irreversible, I can only hope that people will learn more from this matter.
What if the Terra (LUNA) team had terminated their network sooner?
They should be blamed for the situation Changpeng Zhao offered to help them but they are nonresponsive to all of Changpeng Zhao recommendations they requested their team to restore the network and burn the extra minted Luna and recover the UST peg but for some reason, they are nonresponsive to Changpeng Zhao recommendation, they have a bad team and they want to do it on their own.
I just learned this information from you, I am surprised that CZ is always actively providing solutions for every project that has been listed on the binance exchange, but the attitude of the team is not responsive to responses from CZ offering what they should do to save the project and investors. In my opinion, the Terra Team is to blame for the entire bloodbath. They should have taken a more pragmatic and responsible approach. Things have only gotten worse for the holders.
All the discussions here are all Luna I cannot blame them, this is the first time that happen in Cryptocurrency and I thought stable coins are the most stable investment, this is a bad precedent if this happens to a stable coin Terra it could happen too to other stable coins so better check the mechanism of the stable coin that you're holding to avoid the same scenario, not only stable coins all your coins in your portfolio as well.
Agree to blame the Luna team, especially when this was triggered at the time they first announced UST backup with Bitcoin on twitter. That was clearly the initial trigger that was used as a nest by several groups in launching attacks. Moreover, the team's carelessness made them aware. Everything is stale and now there is nothing to expect from LUNA. Whoever Hype tries to re-enter to buy LUNA, they are gambling with their money.
They are irresponsible Binance has given them a lot of recommendations but they did not take heed of that advice, there were reports they are in a board meeting, but before they can take out a decision, the damage has been done, they did not even turn off their telegram channels because FUDS are all over in their channel, it was too late to take action if ever they relaunch their chain I don't they will regain the support of their investors, it's over for them.
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