Please be gentle

General
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Yes, I’m one of those that purchased Luna post attack after being told it was a great investment @ $7.
Luckily for me I didn’t bet my house on it and the money I am going to lose will not cause me an issue other than missing a nice meal out with the family!
I feel so sorry after reading some of the loses some of this community have endured :frowning:

And as I don’t really understand the ‘crypto’ world I can only apologise for the damage I have done on the token after buying at a cheap rate. That being said, I can look on this episode as a lesson which i am planning on learning from and if anything, it has awoken a real interest in learning and understanding more about crypto and how to trade.

I know most people are very down and really don’t want to help others at the moment but if anyone does have a spare minute I would love some guidance on the following? if nothing more than to help me learn.

  1. I looks to me that the battle between burn and folk (even though it isn’t a folk as I understand) has been decided and a new coin will be launched Luna2? does anyone this outcome will be different? bearing in mind that i think the launch date is the 27th?

  2. Assuming the new coin launches, what cost do you expect to be able to buy it at? i mean do all cryptos launch at 0.00?

  3. My small amount of luna classic is with Binance? my understanding is currently they are not going to trade the new coin? what should i be doing (if anything) to prepare myself and current Luna to be transfered in to the new coin?

  4. Airdrop? is this the method used when coins are exchanged for other coins for free?

Again, I hope you guys get back what you deserve! Its very clear to see the Luna community are so passionate about this coin its a real sad time if the change happens (In my honest opinion)

TIA

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I made a string of buys from >$8 all the way down to about $0.000003. Pleased to meet you.

Who told you that you damaged the coin by buying it for cheap? Please tell me. I will not be gentle with them.

Whoever it was, they lied to you. You paid good money for something that people didn’t want. You helped LUNA. You bid it up, when others were throwing it down. You took high risk of loss—and apparently, you are now in unrealized loss. When LUNA was sad and afraid, you comforted it with your hard-earned dollars.

Anyway, welcome to crypto. Please take the time and effort to learn, so you gain the benefits and avoid problems. Always keep your wallet keys safe—you are ultimately responsible for the safety of your own funds. Beware of S·C·A·M·S. If it sounds “too good to be true”, it probably is. And don’t invest what you can’t afford to lose.

I still hope to stop the fork. It is blatantly illegal. However, as a practical matter, I know that there is only a nigh negligible chance to stop it now. The fork is already supposed to have been “decided”, as you say. It is scheduled for about 48 hours from now—yes, May 27th.

Don’t know/don’t care. Coins get priced at what the market will bear. I myself don’t expect much out of this one.

Sorry, I don’t know how this works with CEX. (Anyone else want to help the newbie?)

No, an airdrop is when you receive new coins in addition to the coins that you already have. You will keep your existing LUNA. Do not trust anyone who tells you to exchange your LUNA for new coins: That would be a S·C·A·M, to steal your coins.

Indeed. As for your questions, I wish that I could be more helpful.

(Sorry for the stupid-looking quasi-Bowdlerization. The word “S·C·A·M” is banned on this forum. It shows that the Terra forum moderators are myopic, petty, childish, and irrational. And it makes it very difficult to perform one of the most important community tasks on a cryptocurrency forum: Protecting newbies against S·C·A·M·S. For the moderators to censor that word is the nadir of feckless irresponsibility.)

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Hello SF,
I agree with Hyperion that you didn’t do any damage. And yes I had a lot of Luna pre-crash, although it still wasn’t millions. Thanks for being decent enough to care about people who lost, as all I’ve been seeing on this forum and the luna subreddit are fighting between various groups of people and the ‘told you so’ kind of tauntings.
You can actually find most of the answers if you search the forum, but I don’t mind answering new people on the forum.

  1. The… fork was decided on by Do Kwon without a battle actually. ‘Forking’ a network that is open source, to my knowledge, doesn’t require governance. AFAIK there are plenty of projects that are forks or something similar like BTC, LTC, BCH, BSV, XRP and XLM… and so on. I’m sure there’s some procedure that is needed that made DK run this vote, but it’s safe to assume that we’ll get a fork no matter what.
  2. This is a seriously popular question, but it’s not knowable, and also doesn’t take into consideration what decides the price of a token/coin. On exchanges, the price isn’t decided by the exchange or the seller; it’s decided by the order books. Same thing with decentralized exchanges, even if someone set the initial price at $500, it’ll crash all the way down in no time.
  3. You might want to withdraw it to Terra Station. DK said he’ll give you airdrops on exchanges (he was ‘working on’ them to be precise) but right now Binance does not confirm they will support Luna2, same for Coinbase.
  4. No. The ‘exchange’ will be called ‘swaps’. If you want to find out about swaps, you can search for projects like Sentinel (DVPN), Zilliqa (ZIL) or Smartlands (DNT). Airdrops are onboarding new investors like you (and me actually because I would never buy Luna2 by myself again) and gaining free ‘promotion’ of the project. As such, it isn’t really compensation and I wouldn’t assume that the airdrop amount would be really significant to anyone, especially compared to their losses.

Have fun.

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