You can not burn coin supplies just like that. You need to give something so you can burn. If someone wants to burn 1T of coins, he needs to invest 185M USD and then just do the burn of his coins.
That is something nobody in the world will do.
And that is why this thread proposal is absolutely the best.
When some percentage of tokens is burned during the transaction, you gain on token’s value. The constant rise on token’s value will attract new buyers, who will by buying burn another tokens and increase value more.
When someone, who is having now millions of tokens, wants to bail out and grab cash, again during the transaction it will burn and compensate in a way sold tokens.
Basically, that formula has a potential to be next BTC in a period of maybe a decade or so.
Fork is bad because:
In the first moments, big owners will be happy because they got some funds returned, they lost something but will recover most of their money. A moments after the period of 2 years is over, they will sell tokens and get out of the system. DK will not regain trust of the owners in no way and entire ecosystem will collapse again within days. Fork is just a fix, 2 years fix and nothing more. It will destroy entire system forever.
Fork is not a proposal that will go into the gaining back trust that the owner really do want to build stabile system again, but he is just deploying a quick fix trying to make everyone happy, but nobody will be trully happy. So, without a trust, it is forced “2 years love” and again, the moment those 2 years pass, everything will die again.
At the end, fork is not a serious solution. “Hey, we fucked up, let’s go back in time and fix things”.
It does not work like that. There is no time machine.
@dokwon Sir, this is the right moment for you to be strong man, to convince everyone that you are a true leader, take your responsibilities, and build the world from the ashes again.
If you can make one heap of all your winnings And risk it on one turn of pitch-and-toss, And lose, and start again at your beginnings And never breathe a word about your loss; If you can force your heart and nerve and sinew To serve your turn long after they are gone, And so hold on when there is nothing in you Except the Will which says to them: ‘Hold on!’
If you can talk with crowds and keep your virtue, Or walk with Kings – nor lose the common touch, if neither foes nor loving friends can hurt you, If all men count with you, but none too much; If you can fill the unforgiving minute With sixty seconds’ worth of distance run, Yours is the Earth and everything that’s in it, And – which is more – you’ll be a Man, my son! # Rudyard Kipling
I have been in the crypto arena for well over a decade. I can tell you that if Terra decides to FORK, they will be tarnished with the stigma of “rug pull”, and having many lunatics on board, the project will be abandoned. You need a community based driven support mechanism, you must play this out with the trend, that unfortunately you had a cyber terrorist attack destroy your coin and now we must rebuild. This is NO DIFFERENT than 911, or a war in Israel, or Ukraine, except its a digital war.
So would you suddenly leave your land and building and children, women, family and everything familiar behind and call it a “fork”? NO, you fight and rebuild the same building, same community, and you become stronger than ever before.
Please use this opportunity to grow more members, more ideas, you can not run away from your problems, as they will only chase you with a fork—which believe me, no one would invest in.
Take a deep breath brother, stay strong, burn coins, create a “shiba based” community, except your team has the brains to execute as you did before.
Forking would give the impression that you abandoned the Luna community and replaced it with a new family—we don’t do that in real life, no sense in doing that in the digital world.
100% agree with this idea. Look Luna Transaction in CEX, i take an example in Binance almost 9 Trillion Luna has been traded within 24 h. How much luna can we burn with this idea, just imagined that.
I voted YES to this. Best proposal so far! How can we get this in front of CZ or Vitalik for feedback/push? Our clown’s ears are still plugged with his massive ego, doubt he’ll ever listen to the community. His unstablechen boy is a lost cause as well, I bet they both are on this insider job & that’s why they want a fork.
Looks our burn proposal is catching up to the DK endorsed pinned plan. Our poll smashed and the word is out. They won’t let most of us vote, but validators and pre-event staked can still vote. Personally, I reached out to a few of them. Hopefully they see the future is here and already in place.
Felt like I needed to speak up over this. Do Kwon has already said, he would keep the old chain as Luna Classic. The key thing now is to have a capable team to run Luna Classic and implement the communities desired plan to burn the over supply and start seeing our price increasing. I see CZ as the key for this change.
Not sure if the current new holders of Luna knows, unless you are staking, you can’t vote. And TFL has already turn off delegation. This means you can’t stake, and you can’t vote. Majority of the holders here doesn’t know.
Obviously if the fork passes, we must do everything to implement this proposal on Earth, if it works it will be something too big to write it a crazy boom
@dokwon this is exactly what LUNA needs.
Thank you for putting this out @HelloThere. Great proposal.
Pin this or flood this with comments so more people can see.
anyone interested in organizing a CLASS ACTION against Do Kwon and the VALIDATORS who vote and implement the fork instead of implementing the BURN tax?
Does anyone know the legal steps needed to start the Class Action?
The BURN tax is the correct solution 90% of the community understand and is supporting it!
