exactly, folks asking for compensation or forks obviously have failed risk management strategies. They’ll jump ship the moment they get compensated. Utility burn is the way.
2 Likes
Everyone had access to the same information. Stop your whining, you gambled and lost, I understand you are supporting a burn, no issue with that. All the best.
I didnt I bought the dip yesterday just trading and sold it
I would rather hodl trash coin to be in such community
Seriously man just answer me
U did 370x why u didnt sell?
All that because of staking
Man if i make 10x I would dump it
1 Like
He is right! And it is quite obvious.
The trust is the only value an asset may have: crypto, paper, golden or diamonds or any other.
If you don’t trust it, you will not put your money on it.
Now UST and Luna must work for its own reputation and the decisions and directions we take now, will affect the crypto market for the next years!
So Luna cannot be a Black hole, limits must be implemented, and reversal to deflationary mode must be implemented, with it UST may be restored as well.
But not at a high speed, as it will create a new spirals for whales, so small funds can be used to mark the burn start 
in a deflationary event.
This will bring back capital, a lot from speculators on beginning, but the gas fee burn will move the assets from speculators to investors.
Again we need hard work, not magic plans!
2 Likes
The fork plan is the fairest. The people who bought after the de-peg are still getting compensated with 10%. That’s much more than their contribution to the project in the grand scheme of things. Sure some who bought higher will end up being diluted and some who bought very low will make a fortune but averaging out everyone who bought after the attack with 10% isn’t stealing; it’s giving them something in proportion, actually in much greater proportion, to what they put in when the risk factors and more speculative nature of the timing or their purchases are taken into account. Everyone is going to have to take a haircut here for there to be any chance of anyone recovering anything. There is also a chance that if the system is fixed and works this time so it can’t be crashed again that everyone in that 10% pool if they stay long term hodlers will get all of their money back, for instance if Terra/Luna 2.0 goes up to $300 in a few years. That may provide some stability so hopefully not everyone immediately runs for the exits. For the new coin might also want to think about some sort of lockup period on a percentage of everyone’s holdings. The 10% has to hold all of theirs for a longer time and the legacy holders have to hold a percentage of their new coins and can have them unlocked like 10% per week or month or something to give the new system time to prove itself before there is another bank run.
Only way is to get rid of all that UST, by burning it!
3 Likes
That will never happen if there is a 2.0…is sad but true , 2.0 is literally a scam…
Im also in a very big loss , i bought on 80.
Burning is the only way.
It will take a lot of time but its the way
2 Likes
Yes, it could work 0,1 Luna for 1 ust?
1 Like
Think about it
1- who will list this fork coin?
2- who will trust luna team if they dont have reserve left?
3- the day of listing luna v2 will get dumped 99% there are 1000s of rekt hodlers
The best is to re buy- re distribute the coins and the project might shine again
Fork is like exit scam
U are giving a new coin wont be listed on any major exchange
8 Likes
The people who bought the tokens minted in the period of hyperinflation are getting 10% of the new coin.
Luna supply was about 340 million before over 6 trillion new coins were minted.
Let’s do the math. The people who bought those new 6 trillion coins have how much contribution compared to the ones who had the pre-depeg 340 million?
Round numbers. 340 million divided by 6 trillion is is like .005 percent.
That means the pre-depeg investors have like 99.995 percent more skin in the game based on the token inflation and yet the post-depeg investors are getting a 10% cut in the new coin. Instead of 10%, mathematically they should be getting more like .005%.
And they’re complaining? They are actually getting so much more than what’s fair and it’s the legacy Luna and UST holders who will be sacrificing the most, but sacrifices must be made to save the baby.
I’m having big loses on UST, supo used to be stable, didn’t wanted to risk the money
Why did you step into crypto then? In bank account or pillow would be your money safe…
Reply
It doesn’t matter what was their intention. People bought a Luna and each Luna should be treated the exact same way.
Etherium was forked and the new one is like $2000 while the old one is $14. It can work. Have to get Binance onboard with it though. When people see a good faith effort and see that the causes of the fiasco are now well understood, including who perpetrated it, the solutions are in effect so it can’t happen again, and everything is well explained as far as what happened, why it happened, and why it can’t happen again, then there is a chance for success. Sure a lot will exit. Maybe there needs to be a lockup period like with stakeholders of an IPO, but the math on Luna 2.0 works a lot better than trying to burn over 6 trillion tokens.
Nobody that buys crypto wants to lose money. You think people that bought Luna wanted to lose money ?
If u give 10% or 50% it doesnt matter as long as binance and other peojects wont support it
Cz clearly said u cant void off and on chain transactions
Ftx the same
Fork wont be supported cuz the early greedy hodlers are against it
And the ust rekt investors they gor different proposal
.so the best thing is buy back
2 Likes
100% agree.
Kwon proposal give people that they get something but actually they don’t.
V2 can’t be trust. It’s just a sign of failure project.
I can hold old LUNA as a souvenir no v2 needed.
2 Likes
The people who bought during the attack will be compensated with 10% of the new coin. If it works out and they hold it long enough they’ll be above water. For many if they want to sell immediately they’ll take large losses. Some will be way ahead right off the bat and others will take longer or may never get all of their money back, but that’s the same for the legacy stakeholders too.
Personally I wouldn’t give the ones who bought while the attack was in progress even 5%. I’d give them something in proportion to their investment. Maybe time frame it in even more subdivisions so that you have people who bought a day after the attack, two days after, three days after, and then prorate their distributions based on the prices at the time so out of that 10% the ones who bought a day after when it was higher get a higher percentage of the 10% and the ones who bought when it was like .0000005 get a proportional distribution that is equally miniscule, but everyone gets something and some of their money back in the form of the forked chains tokens.
1 Like
But Ethereum didn’t scam their way out of it. Ethereum didn’t do a back to the future and time travelled back a whole week. They immediately halted ETH trading and then forked. They also didn’t do a redistribution. Everyone that had a ETH, got an ETH after the fork. The proposal that Kwon supports is a complete and utter scam. Not only will this proposal fail, but he will get sued like crazy. And Binance and other exchanges will target him as well because this proposal harms traders on Binance. Binance will protect its users.
There is no reason for Luna to make a new fork. Ethereum had a reason. They were robbed by a single entity so they reverted his transactions. But Luna’s proposal is like reverting each transaction after their snapshot and stealing at the same time. This is not what Ethereum did.
4 Likes