To those who advocate for Burning

It will mostly benefit opportunistic late buyers who are holding a shitload of coins. It will not benefit pre-depeg UST and Luna holders. Change my mind!

2 Likes

1 - Old traders can lower the average from the current low prices.

2 - The project has a higher chance of survival. In the long run, the old investor may become profitable.

2 - Burning is not a gift, it should be. (within free market conditions.)

3 - Fork is theft. It is not fair and is someone’s attempt to evade responsibility. (Within free market conditions.)

15 Likes

The biggest issue is how it can be funded with the reserves wasted. No proposal is going to be 100% fair and there will be opportunistic buyers benefitting in pretty much every solution. Forking will likely lead to brain drain and little to no adoption by CEXs. The best hope to keep Terra alive is the current chain and protocols remaining. Burning is the only way to do that but there’s nothing to fund the burn

Does it matter if late buyers benefit aswell ? they kept the price up from going to zer0, don’t be scrouge…
There is a higher chance of getting more back if burning starts…

5 Likes

yeah they can burn until zero supply and refund 200% ur money, simple u just call / report nine one one.
dont waste ur time make proposal, new post, etc.
who u ? they not listening u

you’re not wrong at all

its literally depeg apes trying to get rich off buybacks

buybacks/burns would also cost a ridiculous amount of $ to pull off

I propose $LUNAC having a hard coded tx tax that can be used to burn supply from Luna Classic and pay validators of the chain

Assuming there is no money??? The where is the money coming from for the Fork, the developers and the others promised to be compensated???

Terra is still minting tons of luna as we are speaking… could s1 explain ro me why we havent stopped minting at least?

1 Like

No sense even engaging with people like this. They don’t think you deserve money because you bought an asset at a better price than they did. And I say this as someone who bought close to the top of Luna all the way down to 0.000

And now they want to reset the blockchain like nothing happened to go back in time

3 Likes

Great question! been asking the same thing over and over.

I can change your mind, buy back a small portion I put money in to help Luna to give liquidity not to get rich I merely stayed out of Luna but I did buy both UST and Luna. Because most folks need the help and I was willing to give liquidity I also staked a large portion of what I purchased all proceeds of my staked Luna and UST will be burned and I hope all Luna and UST holder’s become whole again.
I truly hope you all keep calm don’t worry if we work together we can make it.

The reserve has been destroyed. It’s at $90m not counting the UST and Luna, which are both essentially worthless for a burn. The fork is just airdropping new tokens with a lockup. It really wont have any value since its not traded initially unless i misunderstood the proposal. Even if there are funds that are being used to launch the fork, its not nearly enough to fund a burn which was my point. At least $1bn would be needed to start a buy and burn that would have any impact at the current price and supply levels.

1 Like

Only holders need to benefit. If you sold you already accepted your losses.

4 Likes

no stfu

Is it true that those who bought around 5-60 dollars and below can hardly get a token? say bought
50 grands at 30 dollars. hardly a new token considering 6.5T circulations?

This is ridiculous. I will never ever accept this

Burning is not feasible at all unless users choose to burn their own coins voluntarily.

No money for buybacks and burn either.

The burn tax proposal would only work for on-chain transactions. Luna won’t get burned tramsacting on exchanges. It also makes the blockchain less appealing for devs.

It’s a bad idea. The fork must go on.

2 Likes

And who did not allow the early ones to average their positions?
They watched the ship sink, and now they want to be better than those who tried to keep it afloat?
Crown does not press?)

2 Likes

For those who say burning wont work you are talking out of your rear end. I’ve been watching the volume falling while making trades. This is the way to redemption forget about a fork. Those who push for that are liable for the collapse alongside the validators who will face the courts.

1 Like

You can buy a shitload of coins now. Why aren’t you? Literally $50-$100 can get you millions. hold them and dont sell, and burn.

2 Likes