It does not burn/remove anything. It’s not creating any value. Stop confusing ppl. NO!
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So what would you call a 6 Trillion reduction in LUNC supply after a Consolidation ?
IT GETS DESTROYED / BURNED - DISSAPEARS FOREVER / NOT SEEN AGAIN
Seriously go read how it works - google is your friend - IGNORANCE IS NOT AN EXCUSE
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No, it’s not burned nor destroyed. It’s consolidated, and it’s HUGE difference. Seriously, stop lying.
Go look up what Consolidated and Consolidation means in the dictionary.
Consolidation reduces the total supply - think of it as a 90% instant tax that is burned.
This leaves only 10% in circulation which would equal 690 Billion.
Sheezus the LUNC community is screwed with this low level of thinking.
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You clearly dont understand it. 3-5 years LMAO - will be more like 10 plus years.
Your wealth is determined by the Market Cap.
The LUNC is priced according to the Market Cap divided by Total Supply.
How many LUNC you hold should not be your focus, its the wealth you have before and after consolidation.
If the MC is $2B now and later becomes a $10B MC. Your wealth just increased 400%
Having less supply strengthens and tightens the demand for LUNC.
Foolish to believe LUNC going to $1 anytime soon until a massive supply is burned.
10B supply with a $10B MC makes LUNC worth $1 each
6.89 TRILLION has to be burnt to achieve 10B supply - LMAO do the maths
A consolidation of 1 for 10 is the best head start as restarting from a 690B supply has a more realistic possibility in achieving the FANTASY 10B supply.
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What a headache reading and re reading the proposals.
None appear to be workable on their own and can see merits that would need to be blended.
Need to see AMAs and civil discussions among the proposers.
Repegging with a new AFT i would support.
Repegging with USTC I would not support.
LUNC needs to distance itself as far as possible from TFL, LFG and Do Kwon and any current and future legal issues.
Going to say it again!
The whole LUNC community ultimately participates.
Cleaner, Faster, and Fully Resources LUNC Blockchain program to move forward.
Best to do a 1 for 10 Consolidation
**Reduce to 690B circulating supply plus 50-100B to fully resource **
Allocate from the burn pile 50-100B LUNC to fully resource the blockchain.
Collateralise a new repegging AFT (USTN)
Devs, Rewards, Audits, Security, etc to be divided and allocated as deemed necessary.
LUNC Blockchain would in essence have a reduced supply, be now fully resourced, be repegged with new AFT, Devs would be compensated and be able to begin hiring additional talent to balance the workload and drive hard and fast implementing all the relevant safety mechanisms and protocols to protect the chain.
Consolidation solves many issues in 1 major action that the community as a whole would equally be affected and be equally benefiting as no one is disadvantaged and no one gains an advantage. Much fairer outcome all round.
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The problem with a reverse split, is the impact on those that are still holding their original bags from before the crash. there are plenty of holders out that are still holding pre-fork.
if we reverse split, they will lose much more than they already have.
That argument is so very much flawed.
Classic example.
A business acquaintance of mine invested approx $100K USD with an average cost of 65c
His $100K investment only provided 1,500 LUNC before the crash. It wiped him out.
(He eventually did buy more with some encouragement, after I brought my first 10M LUNC for $1K)
His original bags are pretty much worthless today (Value today $50 USD).
1500 lunc at 10c = $150. Its still the same value with 150 Lunc at $1 with a 1 for 10 consolidation.
The Picture
$100K USD per crash = 1,500 Lunc
$1K USD after crash = 10,000,000 LUNC
Even if you brought today
$3K USD after crash = 10M LUNC
Consolidation of 10M Lunc (brought after the crash) will still provide 1M Lunc holding
Pre-Fork holders who have not brought up more LUNC will NEVER recover from their losses, so there is nothing much to hold onto.
LUNC is not going back to the $100 glory days anytime soon.
The only way to move forward for pre-crash holders to have any hope of recovery is to buy more LUNC while we have a $2B MC
If LUNC reaches a $1 after consolidation, it only means LUNC without consolidation was worth 10c.
Consolidation speeds up the program for recovery, removes massive supply, tightens supply and demands that will see MC improvement, and more importantly can fully finance the repeg of a new AFT and fully resource the blockchain for ongoing improvements and developments.
Really is not that complicated to see how this is WIN WIN WIN situation for all LUNC holders.
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ERROR in above sentences ---- 65c should read $65 and his current original bag value is not $50 should read 50c
Classic example.
A business acquaintance of mine invested approx $100K USD with an average cost of 65c.
This should read as $65 per LUNC
His $100K investment only provided 1,500 LUNC before the crash. It wiped him out.
(He eventually did buy more with some encouragement, after I brought my first 10M LUNC for $1K)
His original bags are pretty much worthless today (Value today 0.50c USD).
1500 lunc at 10c = $150. Its still the same value with 150 Lunc at $1 with a 1 for 10 consolidation.
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USTC Holders could be compensated over time with escrowed monthly installments after the LUNC Market Cap reaches certain Market Cap levels as tranche payments to avoid massive sell off pressures. (Higher tax levels to be implemented for any high volume sell offs via Capital Control Systems.)
USTC Holders should be provided some pathway to some level of compensation with mechanisms as outlined to provide confidence to future investors in a new AFT. Looks BAD if they are abandoned. This in effect becomes a tradeoff as the lost opportunity and customer retention value will still come at a cost in time and resources required to rebuild trust in a new AFT.
It wouldnt be 20% of interest, It would be 20% of the agreed compensation amount at agreed upon Market Cap levels being reached.
Community Agreed Compensation would need to voted upon and as an example only may be 25c in the dollar - (100c in the dollar UNLIKELY).
Community Vote needs multiple choice selections IMO to be precise in one vote what the community would find tolerable. 0 - 10c - 20c - 30c - 40c - 50c - 60c - 70c - 80c - 90c - 100c.
(Terrastation would need an upgrade for this style of multi choice voting)
example only.
LUNC MC hits 10B then 20% of agreed compensation to be released as tranche 1
LUNC MC hits 20B then a further 20% of agreed compensation to be released as tranche 2
LUNC MC hits 30B then a further 20% of agreed compensation to be released as tranche 3
LUNC MC hits 40B then a further 20% of agreed compensation to be released as tranche 4
LUNC MC hits 50B then a further 20% of agreed compensation to be released as tranche 5
Upon a 50B Market Cap being achieved the USTC holders would be 100% compensated at the agreed level of compensation.
No one is disadvantaged and no one gains an advantage - MUCH FAIRER OUTCOME
For the record not a USTC holder and only invested in LUNC after the crash. It just makes commercial business sense to keep USTC holders involved in a different manner
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Well isn’t that just selfish? I barely have an lunc but i dont care if it gets reduced to almost nothing. The value remains. Just the numbers reduce and trust me, if we reduce 6 trillion, we are automatically going to attract more people to invest.
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The SMEAGOLS just dont get it. LMAO
Calling all LUNC Smeagols !
Which has more value and WHY ?
10 LUNC x 10c
or
1 LUNC x $1
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Absolutely not. You try to attempt a fork and this chain will get dumped on like its world war 3.
And to be quite honest, this will never pass proposal. I for one will be voting No.
I do not understand why people are trying to recreate the wheel. We had 2 proposals put forward 3 weeks ago that were both quite well written and planned. Why is everyone quiet on that?? Lets put one of those to vote and get on with it. That system will burn properly all in due time. No need to rush it.
Vote no on fork folks!!
I dont have a mic so i cant talk in the twitter space that im listening to right now but what would happen to lunc after this fork? We would get the new coin in an airdrop. Would lunc be immediately worthless?
If it was to become a hard fork, the LUNC value transfer to a new coin. Those coins would then have no future use and could be burned upon the fork.
I am not a coder or know if it is possible that LUNC can be tagged with an ID tag pre consolidation so at the time the blockchain is halted temporarily the LUNC coin can have its tagged ID updated after consolidation.
I dont have the knowledge of what can and cant be coded on the blockchain, but if it can be done then a fork maybe doesnt need to occur. Thats for Devs to work out.
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The probem would be convincing the moon boys who can vote, that not having 10,000,000 coins doesnt mean you cant make $10,000,000. They dont understand that with the current supply, we will never reach $1.00 because of the market cap. On the other hand, as everyone is worried about everyone holding their bags and the burn stopping eventually… people need to realize that as the price goes up (very slowly) people are going to get bored and sell. Or it will hit their price and they will sell. I do t see that becoming a problem for quite some time because again. People are going to get bored when it doesnt “moon” and they will go else where freeing up more coins to burn… this is the much slower option though. I will be voting yes for this. But i agree with demon. I would wait to make a proposal. Wait for the time frame to sink in for everyone.
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Correct me if im wrong but if someone had 1 million lunc then down to hundred thousand after your plan then the price would have to hit 10 dollars instead of 1 dollar to to be a million dollars but just reaching a dollar still would mean having a market cap of 690 billion so you still have no chance of making $100000. To me it just looks better on paper but we’ll still be basically where ee are now
From your numbers - yes 100K Lunc at $10 is the same as 1M Lunc at $1
Its important to understand how the Market Cap dictates the price of the coin.
1M Lunc pre consolidation = 100K LUNC after consolidation.
If the market Cap is $2B it will be same pre and post consolidation.
Its simply not possible to achieve $1 with current total supply as this would give us a Market Cap of $6.9 Trillion dollars. This is more than the whole crypto space so is never going to happen.
Before 1 for 10 Consolidation
1M LUNC x 0.0003c = $300
After 1 for 10 Consolidation
100K LUNC x 0.0030c = $300
If the market Cap = 2B today, whatever your investment is should be the focus point to understand what your returns are going to look like moving forward.
The value remains the same, however the massive reduction of supply creates greater value as the core objective is to reduce supply, that will in turn fast track investors to come in, creates supply and demand tensions, increase the % of people staking that in turn further reduces circulating supply, attracts new retail investor interest and will advance utility migration back to the chain etc.
Will also likely lift the MC prior and after consolidation when people realise they need to add more LUNC to their position when reality firmly kicks in and they work out their previous Smeagol investment holding strategy needs to evolve.
If the MC increases to :
MC $4B = 100% gain (1 eX)
MC $6B = 200% gain (2 eX)
MC $8B = 300% gain (3 eX)
MC $10B = 400% gain (4 eX)
MC $12B = 500% gain (5 eX)
MC $22B = 1,000% gain (10 eX)
MC $202B = 10,000% gain (100 eX)
MC $690B = 34,500% gain (345 eX)
MC $2T = 100,000% gain (1000 eX)
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Thanks @TacoGod93 This proposal has been up for 4 weeks now, for discussion purposes.
The Smeagol effect is such its actually not in the best interest of the community.
It will take time to expose people to the idea so they become educated of how it works and why it works.
Will prob require a recorded discussion point podcast or youtube video to emphasise the details.
However also need to connect with Devs on alternate methods and a different voting system so it is multiple choice. (example do 1 for 10 to burn (90%) or do a consolidation down to 10B or be more aggressive down to 1B.)
Will connect with demonmonkey777 on twitter.
As mentioned in the Live Space today - happy to hear peoples views, if people want to add to it, or cannibalise sections - its not a problem.
Will work on dumbing it down and add more flavor around how this can also be utilised to full resource the blockchain at the same time and provide collateral for the repeg, (prefer it to be away from USTC via the AFT (USTN) to be isolated from the legal issues past, present and in the future for ABSOLUTE RISK MINIMISATION .
LIVE SPACE link of discussing it for the first time
Dad Rules OK on Twitter: “2:32:00 Mark #LUNC #LUNCconsolidation #LUNCcommunity #smeagols” / Twitter
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