A general notice to all readers of this thread: Please don’t fall for misinformation, misunderstandings, stupid ideas, and outright malicious Sierra-Charlie-Alpha-Mike-Sierra.
Interjection: This post is a mess, because I can’t even make a PSA to protect people without Bowdlerizing it. In this post, I am not even applying the doubleplusungood word to Terra! This type of word-filtering is lunacy; it shows that they are melting down, spinning out of control, losing their grip on reality:
I see a flood of bad information and bad ideas in posts over the past 14 hours. I have no time to address each one. Here is a summary list:
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Some people are looking to bridge wrapper token burns for evidence of LUNA burns. This is apparently based on a technical misunderstanding. You cannot see LUNA burns on Ethscan, or the block explorers for the many other chains that are bridged to Terra. Most especially, if you see “Wormhole” or “Portal” in the wallet description, then you are looking at a wrapper token. Burns of the wrapper token only mean that money is moving back and forth across the bridge; it does NOT mean the burning of LUNA.
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Some people are advocating the burning of wrapper tokens. If you burn wrapper tokens on other chains (ETH, BSC, etc.), then depending on how that particular bridge handles it, all that probably happens is that your LUNA becomes permanently, irretrievably stuck inside the bridge. You do not burn any LUNA.
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Some people are advocating that holders should burn their own LUNA, without compensation. This is either wildly foolish, based on innumeracy—or a malicious Sierra-Charlie-Alpha-Mike by people who will keep holding their LUNA, while they tell you to burn yours. The reasons are so obvious that I should not need to waste time explaining it. Think of the law of supply and demand, think with common sense—think, just think instead of believing and obeying whatever you see posted on the Internet!
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Some posts have wallet addresses for various chains, advocating the sending of LUNA or wrapped LUNA. Duh. Do NOT blindly send crypto-coins to arbitrary addresses posted on an Internet forum. Never do that! Especially not when every Sierra-Charlie-Alpha-Mike-Mike-Echo-Romeo and his dog must now be spamming message boards, “Send your LUNA here to help the community with a (non-existent) mass-burn!”
This list could be continued, but it will be so long that no one will read it.
Unfortunately, people who are reeling with shock from financial loss have a heightened vulnerability to Sierra-Charlie-Alpha-Mike-Sierra and/or misinformation. And Sierra-Charlie-Alpha-Mike-Mike-Echo-Romeo-Sierra know it.
Act with a cool head. Don’t believe everything that you read on the Internet. Have caution.
In cryptocurrency, you are the only one who is ultimately responsible for the safety of your funds. If you send your money to a Sierra-Charlie-Alpha-Mike-Mike-Echo-Romeo, or pointlessly destroy it, then there are no refunds. There is no remedy. That is a feature, not a bug. Your crypto-money is under your direct control. No one can control what you do with it, which also means that no one can undo your mistakes to save you.