Well it seems to me that it is all over. Luna seems worthless now unless you want to sit on it staked for years and trust this team with your capital. There will be no trust in a forked network run by this group I feel and nobody will want to work with them or list their tokens.
Their performance over the last few days shows evidence that this is a decentralised network at all. What disappoints me is not the substantial money I lost. That was my responsibility. It was the way that this team handled the situation. I think they see now they were out of their depth and arrogant because they got lucky riding an exceptional wave of new technology. I wonder how smart they feel today. The censorship was disgusting and not worthy of people wanting to operate in a space entirely premised on lack of censorship. I don’t imagine this post will stay up long.
I think this is probably a good thing for crypto overall even if it is a setback in terms of momentum. In truth most of that momentum was hype. We all knew it. Most of the people investing were novices. Most of those were driven by influencers who, while “not giving financial advice”, were clearly giving financial advice.
It should help to clean up this space. If you have studied Gary Gensler’s MIT course on Crypto you will know that it is not beyond regulation and that was always on the cards. That will be a good thing and the concept and the technology will deliver value. Hopefully at a more realistic pace rather than any old garbage being funded by novice retail investors aping into alt coins at an alarming rate.
It would be surprising if the team is going to be doing anything for the next few years except battling law suits and other things. I expect the govts will not miss the opportunity to make an example out of this situation.
It has been quite a ride over the last few days. Bye all.
Ah i don’t think validators will be happy with you calling them bots
You should learn how governance work before spreading misinformation.
validators are coup accomplices. This here is a pyramid (pnz) and what is happening was already foreseen.
Anyone can vote, not only validators.
It’s an unfair system though because one bite doesn’t equal one vote. And a small percentage of Luna holders are able to vote. If Orion votes, they get an 8% vote. How is that fair?
But fear not because it looks like the votes are starting to turn! Don’t give up!
You seem to miss how governance vote is handled.
The delegator (Luna stakers) delegates to some validators. If they don’t cast their vote, it defaults to the validator vote.
They removed new staking last week.
To prevent attack since trillion of tokens were minted.
True holders can vote.
I’ve been a true holder, but I can’t add my additional Luna to stake?
Things are never over. Just gotta find alternative solutions that are safe and insured. I just moved over to lendingblock the APY is only 13.*% but they are fully insured by copper insurance so I can never lose money like this again
Seems to me you’re a clueless mofo and a short who’ll lose his ass
Lol true holders. Can’t wait until all you members that were involved in this are litigated until bankruptcy and/or subpoenaed and caught up in lots of time incourt
Nothing has really been fair even in the real world. Take Facebook (or now Meta) for example, Mark Zuckerberg holds 60% of the votes so no matter how many voting sessions or number of voters (the investors in this case), only his vote alone counts.
Don’t worry guys, a few months later they will call LUNA 3.0 holders as true holders and abandon LUNA 2.0 holders too
Can you explain with a diagram how the 6.5t Luna was suddenly produced and to whom it was sent ?
Who are the attackers, what action was taken against them…?
Why doesn’t management want LUNC supply to decrease ?