Why did you invest originally again?
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Exactly. The most frightening thing isn’t LUNA price crashing or UST depegging… it’s that the so-called figurehead of this coin made such an idiotic proposal like this which absolves him of spending the BTC in reserves he said would be used. It’s revealed an ego so large that he honestly thinks us mere peons cannot see right through his nonsense. I’m surprised how LUNA got so big in the first place with a founder that could make a proposal like this one.
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People shorted the market coz of trust issues on that network, and the network responded “we are the boss who run the network”, you shorters are bad, you can not short it, we will make our market price by ourselves again at $100 and redistribute amounts to holder ledger dated by last two weeks…
Does that sound familiar- this is the Luna crypto.
Market is played by the people, you cannot put childish act on pulling the rug and restart the market by saying “the board game is mine, I made it and I cannot lost, I need to restart the game”, well in this game of trading, let the remaining players play the game. You are just board maker, not the market maker!
If you loss the game, pay the bills and move on!!!
Stupid Proposals must be deleted!
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Sorry Do Kwon, this is a terrible idea. If you want to reset Luna, you probably need to buy back every Luna coin in the market, sounds stupid right? The thing is that Luna is up and running in a trading market, things will run and grow organically. You shouldn’t be tampering the market. I have never heard that a hard fork is needed when market crashed… no one hacks the system, it is the system that couldn’t sustain the market condition.
Please go back to your drawing board, reconfirm your vision, improve your algorithm, strengthen your staking rules, and let the market grow organically.
Whatever lost is lost.
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I disagree. Please approve Fatman’s proposal
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There are two major things we need to consider
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First and foremast is to keep the confidence of the Terra chain which has lost confidence among the masses.
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To keep the long term community bright minds and those who got into the community even when terra value dropped. Yes, it is possible to keep both.
I recommend, terra chain keep a small fees for the transaction happening related to buy/sell of terra for a recommended time frame(say 180 days) like a credit card transaction. I would say more for buying it, i.e for 100 terra it’s 102.5 (2.5%) terra, for selling it only 1%.
Use this fund to incentive the new coin the way founder has proposed.
This will ensure both above points…
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This!
Ok. You’re not going to get back to before, but u can get back to whatever it will be.
“rise like a phoenix from the ashes”
Dot bomb, housing market crash, etc….
We can set up a free fund, which can refer to a previous project called radar currency in China. This fund can be held by anyone willing to participate in the world. It is equivalent to a fund like the world bank, which is used by people all over the world. However, the inflation must be set within a reasonable range and the maximum amount of investment by large households must be limited, which can narrow the world’s recovery gap, At the same time, they can get the benefits of the whole olefin regeneration. After all, this system is very well-known, and no amount of money may be spent to build such a system
Exactly I am thinking…
the perfect plan right now is buying tokens and burn it it’s the only way to save it back
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If you do not compensate buyers and holders of Luna via exchanges, perhaps before it was diluted in the billions while it was still trading close to or above a dollar, no trader or regular joe investor who does not spend their time staking will ever trust or buy Luna again. Exchange holders and traders are essential for liquidity, volume and a sustainable future and need to be compensated in some way.
Hi Mr. Do. I have a great solution to save Luna and I am sure she will answer, if you can check my request, please contact me or send a message inside WhatsApp. Do not in any way inject the money you want to inject, the only way to save Luna is the use of people’s greed, in a few days the value of Luna returns to one dollar in a few days, we just have to save Luna with the greed of the holders and their fear. Call me to tell the solution, my contact number is 00989155407994 And 00989039613595. Please be sure to listen to my suggestion and save Luna, as well as many lives. Save her with just the $ 1 billion you want to spend on Luna. The solution is very simple, first to create greed in people and then It is possible to get Luna, which is in the hands of the people. I saw the week and I want to save Luna, the only way to create greed and collect Luna from the people, I am sure it will work
Sorry, but the more I think about this the more I realise what a stupid plan this is.
Is this the level of intelligence at the leadership level?
Does anyone inside this organisation know how markets work?
This plan is the fastest way to kill the Terra Network. Like seriously, who is ever getting involved in this project when they just fork back to the last save point anytime anything goes go bad, FFS. This is not a video game, this is the real world with real human behaviour (and very smart financial market players who will again exploit this stupidity). Anybody can create a currency, but nobody can create value out of thin air.
The more I think about this plan, and the more I listen to people who want a refund(?!?!?!) on their investment, the less faith I have in this project. My money is gone, and with these idiotic plans and it’s entitled, unrealistic community who want to be ‘made whole’ by fudging the numbers, it’s never coming back. I need to move on. Good luck to you all. I’m sorry for all our losses, and I hope that Do Kwon is never given another chance by investors and developers in this industry.
Peace out!
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Ok i get it . They want to exit and cashn out in safe heaven . Its getting too hot.
Bankruptcy
In case a debtor is unable to pay debts due to financial distress, a debtor or a creditor can file a bankruptcy petition with a relevant district court.
Although Korea does not have a bankruptcy court like the U.S., Seoul Central District Court and other district courts nationwide have formed insolvency panels in order to facilitate proper and expeditious disposal of insolvency cases. Insolvency proceedings have taken a new shape after the enactment, on April 1, 2006, of the Debtor Rehabilitation and Bankruptcy Act.
Rehabilitation Proceedings for Business Entities
Rehabilitation Proceedings for Individuals
Rehabilitation Proceedings for Business Entities
The purpose of Rehabilitation proceedings is to seek maintenance and rehabilitation of business entities under the supervision of the court, by adjusting the claims and equities of the entities concerned, such as creditors and equity holders. The court, upon a request from a debtor, a creditor, or an equity holder, renders an order for relief, and appoints a trustee. In principle, a debtor is appointed as a trustee. Debtor-in-Possession System, in which the Court does not appoint any trustee but leave the right of administration and disposal of the estate to the debtor, is allowed under certain circumstances, such as when a debtor is an individual, a medium sized business entity, or a public company with sound corporate governance. A trustee is required to submit, within the period fixed by the court, a reorganization plan which contains a detailed program for administration and disposal of the estate as well as a plan for adjustment of debts. If the plan is accepted by creditors or equity holders, and confirmed by the court, the rights of the creditors or equity holders are altered according to the plan. In the event that a reorganization plan is implemented by the debtor properly, the court shall close the case unless the debtor is likely to fail in carrying out the plan in the future.
Liquidation Proceedings
The liquidation proceedings are proceedings whereby a court-appointed trustee collects the property of the debtor, converts that property to cash, and distributes the cash to the creditors. The court, upon a request from a creditor or a debtor, declares bankruptcy if the debtor is deemed unable to make payments. When the debtor has no or little property, the distribution proceedings may be omitted. Debtors, who are individuals, can be discharged from remaining debts. The granting of a discharge may not be given if it is deemed that bankruptcy, in whole or in part, was caused by extravagance or fraudulent practices.
Rehabilitation Proceedings for Individuals
Individuals with debts below a statutory threshold and with likelihood of sufficiently stable and regular income in the future are entitled to reorganization proceedings for individuals, by which debtors may adjust debts and make installment payments to creditors pursuant to a court-confirmed plan. Once the debtor repays a certain amount of debt within a planned period not exceeding 5 years, he/she may be discharged from the remainder of the debt. The debtor should submit a list of the creditors and file a plan for payment. A court-appointed standing trustee will investigate on the estate and income of the debtor, and advise on the plan for payment. After the plan is confirmed by the Court, the debtor should repay the debt according to the plan. After full implementation of the plan, the debtor can be discharged from the remaining debt.
Lets go with this and get it over with
Agreed.
he is trying to save the old luna folks… real losers are ust holders… see below.
Supposed we are very optimistic that you have $2bn of reserve left.
So UST holders get diluted from $1 to $0.07?
$2bn * 40% / 11bn supply of UST after attack = $0.07
For Luna holder before the attack they get a value of $2.10 at least?
$2bn * 40% / 380mil supply of Luna = $2.10
Can explain to us how is that protecting the faithful UST holders? 
This seems like ripped offing the UST holders right?
Any mathematically inclined devs can verify my numbers above?
Thanks!
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@hyperion, what estimated value would the 2000 units have? Would the peg be around $1 dollar or something else?