I'M AN EX-"WHALE". I Have 4 Kids, I Lost It All, And These Are My Thoughts

Absolutely, as terrible as it sounds, this is probably the best mindset to have. At the same time, we can still push for outcomes we think are fair (without expectation of a resolution that sounds reasonable or favorable to us).

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At least you were a whale.

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You’re too selfish.
What offence did Luna holders commit?
Moreover, the issue was cause by UST holders who sold UST to get Luna hence increasing the supply of Luna

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My coins and everyones coins are exactly the same as yours , doesn;t matter at what price they were bought.

You lost money , Thats the crypto market.

I disagree with yours and Fatman proposal. It wont get accepted.

Selfish ust people.

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:people_hugging::people_hugging::people_hugging:

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I have read many replies like yours (well some of them were less nice…) but you have all convinced me that a compensation should be for both UST and Luna holders even if it means less for everyone. And if we go with FatMan’s proposal , then maybe the cap per wallet will be smaller. and less people will get their whole back, and whales will get less as well, but more people from both sides of the system will be happy.

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you’re in my thoughts and prayers!

I hope that you get that money back!

Don’t lose hope and keep pushin, I believe you’ll get it back some how!

How and in what way can I claim compensation?

At the moment there are different offers, but my feeling is that its up to Do Kwon to decide how to proceed from here if at all.
You can’t really claim anything at the moment.

This is typical of UST holders who knew 20% was a risky business yet still cry when the token loses value. LUNA was sacrificed to save your greedy asses but somehow youre the victim?
Only solution to this problem is to buyback and burn and remove UST from the ecosystem.
Algorithmic stablecoins will never succeed.
Maybe addding small tax on transactions will burn more coins quicker but handing out compasations to people who sold further putting pressure on the sytem while ignoring those who bought at all levels of the drop to help keep the peg will be the last nail in this coffin.

FYI UST holders. Stop being so fkn greedy & selfish!

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Nothing solid yet, just a proposal (that in my guess has a low chance of actually being implemented any time in the next month).

I think the only solution is salvaging Terra, burn as much as possible through transaction fees and buybacks by any remaining reserve and get our network functioning again. If we have reserves after buybacks it goes to UST holders and we have a fund from the community, protocols and transaction fees to payout remaining UST holders. I think a fork is definitely the death of Terra completely. Burning may not work, but i think abandoning our network and hoping even a portion of the builder and user community comes back is a much longer shot.

First of all, my thoughts are with you for what you are going through, please do not lose hope.

Do you mind reading this proposal and sharing it if you think it is the right thing to do at this time: Plan B - Terra resurrection

After reading the original post and this vitalik retweet, I’m more convinced this is the right way of going. Everyone on this forum wants their money back except for this ex-whale and vitalik is impartial.

I was a supporter of somehow bringing back terra and it’s awesome staking collateral system and make everyone whole again but even if there was a way now i’m not sure it’s the right thing to do.

Luna wasn’t sacrificed. Looks like you have no clue of how this system worked. Luna was balancing UST from de-pegging.
And if you just remove UST from the system like you suggested, Luna has no right to exist as it will simply have no use! Do you even know what UST and all the other stablecoins there for?? The whole idea is that these stablecoin can on ramp money in any currency into the system.

I’ve heard about this idea, but it won’t help. Once there is tax on each transaction, there will no longer be such huge trading volume so you won’t burn much as you think.
Do some learnings before you write… remove the UST."…, what a joke…

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Great views / ideas / rebuttal. Wish you had said them in a way that wouldn’t make people double down or discourage more ideas / debates.

Although it is kinda hard.

You completely lost me when you posted the above point. Let me ask you one thing - according to you only those should get back who held UST prior to snapshot? This makes zero sense. According to your own admission you sold some of your UST at 0.50 and recovered some of your losses but you still expect to get paid $1 or some form of compensation even if you sold and reduced your risk by exiting the system to the value of those UST. AT the same time the guy who bought your UST for 0.50 and took on your risk, should get nothing? Can i ask you in which world the guy who sold and reduced its risk should get the compensation but the guy who took on your risk should get no compensation, how does this seems fair to you?

The bottom line is those who exited the system should not get any compensation, specially the UST holders. Compensation should only be given to existing holders. Before you speak about buying cheap UST, the market is still open so all those so called believers can still buy it back and hold those UST so the opportunity still exists.

In terms of Luna holders, its more complicated as they got diluted even if they didn’t sold their tokens so the solution is bit more complicated. I don’t really know what could be a good solution for them.

There was no end in sight that night…every time we thought we were at a bottom…boom…on come another 10000 LUNA and they were 50% undercutting every time! The algorithm was broken and that’s why LUNA deserves compensation too. When I buy oil stocks its because they know how to find the oil, get it out of the ground, refine and sell it on market. As an investor that was what I would buy into. Now if said oil company had watered down the oil before it got to the refinery…the refinery would sue the latter because their product was not as represented. The algorithm was flawed and left the buyers of LUNA with nothing! I’d say that this could easily turn into a court battle and saddlebag this company for good!

It can’t be worse than this :stuck_out_tongue:

Do you guys just think UST is important? So why sacrifice Luna to save UST? We are also investors, we have accepted the mint Luna algorithm to anchor the price for ust, that proves we completely believe in the project, not to pump money for you guys to earn apy. That stake is Do Kwon’s mistake, he needs to pay the price for this lesson

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