Bitcoin Forum

https://twitter.com/stablechen/status/1525023238895837184?s=20&t=-1WYQPCBM04n8tee6cBwQQ

If they are really doing this that means luna holders from pre-attack will get new tokens but what about those who buy later on exchange. People lost money when prices were continuously declining too. They didn't tell their community not to buy before UST repeg in its standards. I also heard rumors that Do kown short his luna to recover the loss that he took by selling his BTC in losing which accelerated the process more.

Luna lose his credibility and all who took any loss should get compensation.

How is it "getting new tokens"? It's literally described that the proposal was a rollback to a certain snapshot.

I'm pretty sure the people who bought on exchanges would be fine with a rollback, as the coins they bought are pretty much zero already anyway lmao.

So someone created a shitcoin to get rich, someone (the same someone?) no doubt earned a lot of money, and now they're considering undoing the last few days so they can earn more profit again?
Who's going to lose money in this twice?

In before Luna Classic.  Lolol.

I've just recently been reading into this stuff and wow...  What a fking disaster.  I knew there was something missing at CMC's top 10.  And it was Luna from like 10 billion USD market cap down to under 10 million USD in a matter of days?  I thought I'd seen it all with Bitconnect. This is waaaaay worse because it was a top 10 project.  And the founder was kind of a douche bag if you back read his tweets...  Tweets which are now hilarious after the event.

People are crazy in crypto and i have realized that in last few days. This luna attack was in the spot light for last few days, but still there are people who brought luna even when it went under 1$. A token price came to 1$ to 100$ that is not normal for a matured investor, but it is for many crypto amature. You will see them in the comment section of Luna twitter Handle about their story of Luna.

Because it becomes normal in crypto seeing prices of shitcoins going from $more than $50 to $1 and in next few months it goes up a bit again.  Seem very hopeful for the Lunatics to expect its pump again. Not realizing that Luna will have to gain trust again before going up  and its the hardest to do now that we  learn Do  Kwon was also the developer of Basis Cash that was also the failed stablecoin.

If I was a holder, I will gladly receive those token but I'm not going to be hopeful about it.

All of their incompetence has done well to get coins delisted from exchanges so far...


It does kinda seem like they'd be voting on theft though. UST was down less than 75% because of the attack, it dropped a further 50%+ because no recovery plan was actually created from what I can tell (we could arge the whole 86% was due to a bad recover plan and a very overconfident ceo).

I'm not too sure on how they operate but could this not make bridges and liquidity pools incur losses?

I'm not sure how much was on other chains but I saw wrapped ust tradable on uniswap?

---

Regardless of the rollback, I'm not sure luna can really recover from this point. If they took the current chain, found the $12bn+ to back up at least the ust that was owned then it'd be more possible for it to "feel" like a blip.

Such an event with Luna has caused a lot of consequences in the cryptocurrency world. I do not dislike Luna at all but according to what I see, all of the saving or rollback efforts might lead to no result. I mean, if you are giving a new coin that is more valuable than your latest Luna or UST funds (which is around 0), would you choose to hold it?

And in trading, you must only trade the amount you afford to lose. It is your choice to trade Luna, go all or nothing in Luna 

I reckon they're more focused on restoring UST value than Luna itself.

But i dont think this will be too much benificial for all becasue luna got rekt and now anyone with this name will not trend in market because everyone still will in fear about those because of luna!! But in my opinion luna was a great project what happened with this project is just an accidents!!

As imagined, not only this is a wrong move, it is also not approved by anyone neither. Crypto can't be just taken back or do a rollback like nothing happened, something happened and there were many people who lost money during that period as well. All these new token ideas comes from the fact that creators want some more money, they will do a new one, hope that people will jump in, and they will take that money too.

There is a big chaos going on, even the smaller names inside the token lost a huge chunk of money, only one that earned anything from it is Do Kwon and that is why everyone is looking for a solution to it as quickly as possible.

Who should compensate the previous Luna coin holders? Developer? I don't think they can do that. It is they who undermine their own credibility. If we hold on for the long term, it also cannot boost the current losses. Investors have lost confidence in such projects. So, who's going to get prices back to normal?

I see no reason why investors after the attack should not be compensated. It's actually very sad that we had no idea what was going on behind the scenes (CEO shorting his own coin) of not we wouldn't have been a victim to LUNA crashing with our hard earned funds. I truly wish that we are factored into the compensation plans the LUNA team has.

No doubt that Luna loses its credibility but I think crypto investors need to understand that choosing their gem based on hype, influencer recommendation, and dev team killer speech is never a good idea. Besides, if a project can barely survive since the year 2018 when it was developed and also in 2019 when its mainnet was officially launched.
Why would it do the magic now?
Did people trust the project because of BTC backed and accumulation, gosh investors need to wake up.

Everyone buying Luna haven’t done any research you see they keep adding coins and lowering the price this morning they had 700 millions coins in circulation now they’re up to 6.5 trillion and market cap is back to 40 billion instead of what it was this morning at 2 billion they are just stealing from us

DoKwon already know as toxic guy.

Other Altcoin Gank who are getting shit word by him now is laughing. BTW about this f*cking rollback, RIP for a people who right now still holding & have $LUNA at the time this disaster happened. They are not getting a new token + they can't even send or sell this shit token since all exchange blocked transaction + delisting from all exchange.

F for the victim.

Ok we are definitely getting Luna Classic or Luna X this time around then, the team should just distribute free dollars in USDT to all holders and move on, it makes no sense for a project named LUNA to exist any longer in this crypto space.

The maximum supply factor is very influential on future price developments, so the team should have determined the maximum amount of supply from the start because the maximum supply factor will become a bad boomerang that can damage the project itself even though other parties do it indirectly.

Never again if they would really be promising new token.For what? For sure they would be asking another  investment and also whom would trust on a certain project which does have a bad past?
There are even investors who had suicide because of this incident where its price dropped 100% which is something that you could really see to happen into this market.
Never again i would say if you had lost that much in Luna then why would be dealing again specially into its new token?

Nevertheless, we have already seen such a successful example of blockchain rollback from Ethereum DAO in 2016. And in this case, the hard fork could restore confidence in the cryptocurrency as a whole and compensate for losses for Luna and UST holders.

This, no matter what they do, the damage has been done already, yeah it's good that they will compensate those investors but not everyone can get it.

I guess we should stay away from LUNA for now, the project or the people behind is not to be trusted as we unravel a prior rug pull as well from the same people years ago. It was a total disaster that the whole crypto market went down with them in the last couple of days.

If they would have told that then who would buy the sell orders LOL
It's just a game. Those shit could make money for some but most just lose from it.

Good luck. The best compensation is go and buy bitcoin!

Shitcoiners 🤣
They lost now in Luna, next time they will lose from another coin.

rekt ithink no more people get interested on there project or new token etc. So many people lost lot of money, ithink many investors will not buy there coin in just my opinion. Look at the luna now the supply is like a shitcoin or memes coin . The supply of luna today is almost 7t .

I don't know what they're thinking?, I think it's hard to put more trust in LUNA Holders,
and I'm sure they're already sad and out of this, I can really feel it,
and it's really unfortunate that the Team from LUNA Airdropped Holders, more both burn supply and stabilize LUNA again

I guess there will be a positive impact maybe in less than 24 hours just to compensate for those losses. But eventually, there's one bigger place that many are thinking where it will go.
Everyone will start dumping it as much as they can and as quickly as they can because they don't want to dwell on losses and with the incompetence of the Terra team.

I don't expect any positive result from Luna even if they airdrop new tokens to all holders, it still won't erase the disappointment, fear and uncertainties that this project has inflicted on new crypto investors this year, now investors will become extremely fearful with new projects.

There were many possibilities to save the project but the team's only concern was to repeg UST which was already lost. Right now the team could buy back every luna token from the market by contacting the exchange because they have most of the liquidity right now. Buy back everything and burn tokens to reduce tokens from circulation. Though the team lost its credibility still there are people who will support luna and their comeback. Especially those who lose thousands of dollars in these incidents.

It is hard to see a great project like luna die. There are tons of generous minds and Dapps in that ecosystem who lose their jobs overnight. Luna had smooth UX which users will miss but what happens in the past few days caused death and irreversible damage to many people's life.

This was a pre-planned attack and the attackers should be punished too.

I don't think Luna will compensate.How to given new tokens to Luna holders i don't believes this.It's not possible to come back Luna price.Lost credibility from holders and No one expected it.Fast time said it is a very good project so many people invested.Luna loses its credibility no doubt also investors need to understand which project are best.

Imo it would be wise to leave ust and try to bring luna on it's legs, terra was thriving ecosystem. Terra on its own was/is great, the dependency of ust peg to luna is what made them both sink.

 If they dare to link collaterals rather than algorithms, that's better.

Much restoring LUNA to its former glory especially the price..
 sounds like a far shot.

I thought so too, it would be better if they leave ust for good. I mean, they tried to save ust before by sacrificing luna but lookat both of them now.
And I've been seeing that a lot of ppl prefers that they leave ust. I'm sure there's a lot to things to take note before they could make a big decision.

So now they want to again manipulate the whole market for their personal benefits again? The people will be fool if they ever come into this trap once more because you have seen the whole LUNA dumping and people losing millions in just two days so who is willing to loose the same way again?

Luna needs to abandon PoS now and go proof of work ;D as crazy as this sounds this looks like the only way to gain a new support from the scratch this time from miners,  ;D this is just an idea that rose from my mind, anyway, the damage is done already and Luna will forever be look at like a scam coin, unfortunately nothing can erase this.

that skeptical tbh in my opinion as well because it's like you want to sacrifice again after all the losses.  Probably it's true that they will distribute new token but the question is how it can help us to regain our losses? Because for sure its another trap again just to save their ass in the market.. Lol for me much better to lesson learn and stay away on this project to prevent another bad situation.

It's hard to get their credibility back they don't have any contingency plan and when in the crucial point when they need to decide they failed to decide it, there's a call to stop the network but they've done it late, they will compensate those who hold their shit coin before the crash and not those who bought it when it's crashing, this one will hurt those who bought unless they can show us a plan on what they are going to do when a similar situation occurs we should not trust this team.

Many are comparing the collapse of LUNA to what happened to ETH when the hacker attack on DAO took place. After that, a hardfork happened and people got the same amount of new coins. But I think the LUNA case is very different, you can't do justice to the coin holders who suffered huge losses here. Especially since many people bought the devalued coins after the crash. I think this story has a sad ending.

Will see. Yesterday I read the info that a few crypto funds are going to provide a loan to Luna so that they could restore the price of their coin. Donno if this a fake or not.

What do you think, with such an issue, which is more than 6 trillion coins, is it really possible to restore the price to at least $1? After all, in this case, the capitalization of Luna will be more than $6 trillion, while the capitalization of bitcoin is now $500 billion.

LUNA's name has gone bad now as a result of a very large and unexpected decline and the team completely ignored the problem so that investors and traders felt disappointed and required them to let go of LUNA after buying which means they all have to bear the loss due to the price decline that happened. So obviously it will be very difficult for LUNA to return to the high price like before.

https://i.ibb.co/Wgz3Srj/image.jpg (https://ibb.co/f4NSm3L)
For speculators, this is now the best coin to trade. The printing press stopped, so prices began to rise. But while trading is active on several major exchanges. I'm very interested in how much the price of UST can rise.

Anyway mass media reporting the SEC got interested in the recent fall and started an investigation against Terra's CEO.

My initial investment has tripled in value at the time of writing. Let's see how far this can go.

Terra's CEO is a Korean or some other Asian citizen, so I don't think the SEC can do anything about what's going on. Most likely they can just stop any activity with that coin in the US, but no more than that. But the fact that this person has to answer for what happened is obvious. But it seems to me that either the investors will find him and cripple him, or nothing will happen at all.

Luna seems unfinished, I am optimistic that Luna will soon enter the top ranking again, they have a strong community and financial support so that they will continue to pump in the near future, I am also optimistic that Luna's investment today is the most profitable thing.

Waves Stablecoin Crash Sparks Death Spiral Fears
https://bitcoinethereumnews.com/technology/waves-stablecoin-crash-sparks-death-spiral-fears/
Are you sure Terra's CEO is to blame?
Or do you think that Sasha Ivanov is to blame for Neutrino USD problems?
They are not idiots to shoot themselves in the foot.
The SEC will definitely sort out the situation, in a place with those who made this situation.. :)

Luna's topic is very popular in the Crypto space its everywhere and you have a valid question, there are more buyers when it's crashing than in all of its existence, checking on the exchange many are still trading and engaging in buying and selling it, it's very speculative now, what Do Kwon will announce will have an impact on the price, you could lose big and win big trading it now on exchanges, the next announcement will have a huge impact on traders now, so only invest what you can afford its an advice that's very true now.

If try to change new coin and smart contract address most lucky with the owner and developer, actually have news with Singapore come from by developer because have issues with police investigation after several investor report the owner. Better not try with some project have got scam and give the another chance, actually he will happy when getting second chance and try to scam you again. Left Luna coin coin and looking for other coins investing because have thousand trusted coin for investing except with Luna.

Some people said exactly these words until this disaster happened to Luna. I mean you can never know when some coin and token will moon or go down to zero. Cryptocurrencies are high-risk investments and everyone should understand what consequences they can bring to your portfolio. I read a twit from some guy who held about $1.8M in TerraUSD. Too much. Nobody cancelled diversification.

https://twitter.com/cz_binance/status/1525454049512140800?s=21
"CZ 🔶 Binance

Reducing supply should be done via burn, not fork at an old date, and abandon everyone who tried to rescue the coin.

I don't own any LUNA or UST either. Just commenting."

Actually getting new tokens is not enough for the profit from the entire loss.why the unfinished Luna was get into the market.Actually it was the clean blunder from the team.Why they playing with our money.It’s real time and not a joking.Optimism is good,but making in the scam coin will not work in the good manner mate.

There is no roll back happening. At which point will you roll back? People bought this coin on exchanges and sold them to other pairs. It's impossible to rollback now.
Secondly, i believe Do kown is responsible for all this, rather he is actively involved in this to get more money out of this incident. Scam planned at a bigger level. :'(

If they will continue to burn their supplies, most probably LUNA can go back first to the price of $1 but it will be a hard scenario to achieve, though little by little if there’s a new investors that still believes on LUNA anything is possible. Beside, the team is not leaving LUNA yet and they are really trying to figure things out and hopefully they succeed on this. I’m gonna put LUNA on my watch list for now and have some as well, I can still see LUNA to be good again.

It's because Do Kwon has said a recovery plan and at this time, CZ is also giving some suggestion through his twitter. He said that there's no need to distribute another new token to the users.
But what Terra foundation must do is to buyback those excess supply so that the confidence of the investors will come back if that's what they're going to do.

It is always so tempting for new investors to try and catch a falling knife or look to profit from the Phoenix flying out of the ashes of a dead project.  However, Luna was a failure for a reason.  It was never going to succeed because it had a faulty structure behind it.  Sure, people may hop in and ride the dead cat bounces to a little profit, but the damage done to the ecosystem is enough that no serious money will ever touch Luna again.  If there is another pump in price, it will be so the billionaires can recoup some of their losses by dumping on the quick profit chasers.  Don't fall for it.  If you insist on jumping into this swap, don't stay long enough to acclimate yourself.

We all should just face the fact LUNA has misstep in their journey, it would take a while to see them back aftermath of losing so much of their prominent investors. It just doesn't look reputable anymore.

There's a new hype recently in my group, telling people to buy now since they saw a 1000% pump, I agree that its too risky and that could be a dead cat bounce better not to stay long with LUNA if you are going to catch the price. This project is a failure, though many says there's still a chance if they are able to solve all the problem but I think it will take years before we saw that recovery, if the team still working for that, it can be a good sign.

For luna price recovery, supply was not enough to restore investors truth. Do Kwon as Luna Ceo must responsible with current condition which alot investors suffer huge loss in their investment. there should new mechanism which is give benefit for luna sacrifice in few days ago. He must propose several solution that could accepted by community and other party.

And this kind of issues will want the government to step in and stop this. Just too bad that we hear people taking their lives because all of their investments are gone. So the CEO must take responsibility from all of this. But not sure what kind of justice and punishment should he got. This is one of the biggest frauds or scams, or whatever you call it and just so happen that we are in a bear market that makes this a double black eye for investors.

I have luna bought from the crash and I support CZ of Binance for coming out with that kind of statement he has more concern than Do Kwon, you don't leave behind those who still trust and rescue your project you make a plan that will regain support from old investors and get new support from new ones like us who bought when Luna was crashing.

Despite of its current hype, I also believe that LUNA already failed but of course there's still a chance for them as long as there's still a buyer that believes on them, they can still survive in the coming years if they remain active. LUNA was a great one, this is unexpected event for them. We should learn from this, any project are possible to have a scenario like this, but since LUNA is very problematic, the drop is very fast for them. $1 with LUNA seems impossible right now, I wonder what will be there solution on this problem.

It's only a tweet from the stable chen but the result actually depend from proposal. I think that even the new token will actually useless but this a better idea rather than still tried to use the old token. As far as i know luna has no burn mechanism. This means if this need to use its reserved funds to burn the money. But i think that terra luna was not also a profit oriented business and using burn mechanism like binance will be so difficult. It's not always generating profit like exchange site

The new token may look good but based on CZ of Binance it will not work and it's useless


We actually have to give credit to CZ because



I think CZ has a better strategy than Do Kwon he should step down as a CEO because he did not acted wisely at the time it needed the most.

And as of this writing

Maybe they can finalize one in the coming week.

This is absolutely insane.

I can't believe that people still believe Terra is a decentralised ecosystem. Look, all trust is gone now within the system and the remains are not pretty whatsoever. There seems to be absolute authority of Do Kwon to do whatever he wants (including arbitrarily dividing the 1 billion tokens), and no one dares to oppose.

Crazy times. What's crazier is that Luna tokens have pumped 33x since the all time lows, when they should be going to zero.

What CZ said makes sense. LFG can easily buy back all the tokens from the exchange by temporarily suspending any kind of deposit and withdrawing. This is necessary to regain the lost trust.

The new token distribution plan is totally messed up because there are people who buy and sell multiple times at a certain level. Like when luna went down my first entry was around 6$. When I saw it is still going down I sell all of it and buy back below 1$ again. There continues a few more times when my initial investment was the same but I increased my token. So how the team is going to distribute new tokens in this situation? It will be messed up when a handful of people will be benefited.

https://twitter.com/VitalikButerin/status/1525561624974700545
"Strongly support this. Coordinated sympathy and relief for the average UST smallholder who got told something dumb about "20% interest rates on the US dollar" by an influencer, personal responsibility and SFYL for the wealthy."

In this case, CZ wants to equalize the Luna investors who bought the coin before its dump with those who bought it for $0.0000006. Obviously, Binance bought a very large part of the coins at a minimum price and now, after burning, the first ones will lose everything, and speculators like CZ will actually remain the sole owners of the coin.

If there ever was a get out of project time this is it. People that were involved should do anything possible to minimize the losses. Thus I think everybody else should stay away from this as far as possible.

Crazy times in crypto! It's more than insane how people get trapped so easily, and it's not like it's happening for the first time, every year we have similar scam projects that attract big attention with their big and fake promises about fast profit while using words like decentralization, the next big things, and so on!

I am not getting near this and other similar projects, and I advise others to not gamble with them... who plays with fire can get burned pretty heavily!

I don't think they attempted to manipulate the whole market. They only focused on their own project but maybe there is a coincidence that happen that the market is also dropping during that time however I heard that luna founders were selling their btc's.

Maybe that have contributed a little in the dip. There are still people that will believe on this new token because how many times we see the same people gets scammed over and over again on different shitcoins? Not all are losing millions but on every investments there's always retail investors that will only invest smaller amounts. Their losses wasn't a big deal to them so they will always try again.

Their protocol has weakness that they did not realize. The attack results in a snowfall effect which they can not stop or handle well. Their solution for it makes it worse rather than resolving anything.

It is acceptable if Luna foundation guard sold their BTC in order to back UST. So far no public and transparent report from Terra team about that. The fear is they did something bad with those BTC.

Don't expect much about a new token. People who bought LUNA at $1 even in bloodpath. How about people bought it at $80, $50 or $30?

They should communicate transparently with community, then ventures can help them with fund to go through this crisis. Buy back and burn need fund and they must to bring belief in ventures that can help them.

Yeah, that's the only way to regain the trust of everyone. Do Kwon denies that he didn't benefited on this, well, as if everyone has been born yesterday in the crypto market.
Most of the developers have their own way of making money with their inventions and that's for sure that he did benefit on it. With massive lost of billions, it's impossible that he didn't took his part and share on the said dump.

Yes, I agree . When your assets start at $1,000 and lose to $10 I think how LUNA will think about it and compensate for that. I mean there are thousands of investors who bought LUNA and the question is, how will the LUNA team compensate those billions of dollars?
I think LUNA could rebound towards $1 to $10 in the next few days but to see it as a long term asset, sorry I still don't believe in LUNA and the ecosystem they have built.

personally i do not think it is the right way after several attempts to restore the value of the land usd now they are trying to give new tokens, a sop but i do not think that will work the trust of investors by now is lost forever

I would doubt that it would be done that way, it will probably have a ton of buyback and burning in order to keep it alive. I believe that the max it could ever reach was like 20-50 billion range even at the peak, now it's not even there.

So, what should they do? Just use all they have, and I mean literally everything they have and throw at it buying UST and Luna and just burn it as soon as they buy it, which would make the supply limited. I am not saying that it would be easy, it will be quite difficult and even if they do this, they may end up with people who are selling and they may never recover but they need to at least give it a try to see what happens.

That is speculation for you, we know that fundamentally LUNA tokens are worth nothing and they should eventually reach a value of zero, but people see the high volatility and they think they can obtain huge profits with it, and they are not wrong as the number of people that think like them is very high.

But with such extreme pumps and dumps eventually the money of those speculators will run out and we will finally see the demise of LUNA as it is impossible it can recover from such a catastrophe.

I do not think it matters whether the LUNA will issue a new token. because it is not going to matter, as the trust between the crypto owner and the potential investors has been broken, so It think no one will invest.

In this case, those who bought the coin before the excessive issue occurred will suffer. I support such a plan, which was outlined by Do Kwon, the CEO of Terra creator Terraform Labs: https://agora.terra.money/t/terra-ecosystem-revival-plan/8701, and is that it is necessary to roll back the blockchain to the moment when the issue of Luna amounted to $ 1 billion.

I think This is good news for those that held to their luna till now .Tim Luna is working hard for everyone for their loss. Very good. But, on the other hand, this has no effect on those who haven't bought Luna and if it works is an example of an effective form of responsibility in action.

https://twitter.com/LFG_org/status/1526126703046582272
"1/ As of Saturday, May 7, 2022, the Luna Foundation Guard held a reserve consisting of the following assets:
· 80,394 $BTC
· 39,914 $BNB
· 26,281,671 $USDT
· 23,555,590 $USDC
· 1,973,554 $AVAX
· 697,344 $UST
· 1,691,261 $LUNA"

May 16, 2022
https://twitter.com/LFG_org/status/1526126708193054721
"4/ LFG:
· Directly sold 26,281,671 $USDT & 23,555,590 $USDC for an aggregate 50,200,071 $UST
· Transferred 52,189 $BTC to trade with a counterparty, net of an excess of 5,313 $BTC that they have returned, for an aggregate 1,515,689,462 $UST"

May 16, 2022
https://twitter.com/LFG_org/status/1526126716388749313
"8/ As of now, the Foundation’s remaining reserves consist of the following assets:
· 313 $BTC
· 39,914 $BNB
· 1,973,554 $AVAX
· 1,847,079,725 $UST
· 222,713,007 $LUNA (of which 221,021,746 is currently staked with validators)"
 :'(

Will whale holders lose all money they invested in to $UST or $LUNA because Luna Foundation Guard prioritizes to compensate smallest investors first with the left-over of their reserve?

Will whales, exchanges let it die after the compensation and see their own money vanish?

Will exchanges want to see the death of $UST and $LUNA that potentially triggers a more strictly regulation from governments and a superb bear market? Then they will lose more income from crypto market

To remedy the market, they will cooperate and rescue Terra for their own benefit.

This is what I have been telling people i know.  Buying on the down is normal, but what many people, including me, did not know is that while we were buying, they diluted the hell out of LUNA value by increasing the number of outstanding coins to almost 6.8 trillions...  yes, trillions... from their existing 764 millions:

5/11/22:  added 1.8 billions
5/12/22:  added 185 billions
5/13/22:  added 6.7 trillions

If a company wants to increase the number of outstanding shares, they would announce the board recommends it, but still goes thru the process to get shareholders to vote.  Not here, Do Kwon and his board just quietly did it...  Maybe there are people who got this news early, but we only found out late on 5/13.  Had we known on 5/12, we would not have bought.  Just dividing market cap before the attack (when it was at $80 x 764M coins) by 188B coins at the end of 5/12, we would realize it's shitcoins... wouldn't even need to wait for 6.7T more on 5/13.  Looks like a big scam to me.

They could "rollback" to when things were good, but that doesn't mean that they will get what they wanted out of this. People should realize that they already spent so much to keep UST pegged, and that will result with a situation where people who ended up buying/selling during these past few days when it dropped to be angered, and anyone who will get it after the rollback will end up selling it as soon as it hits their pockets, so there is no scenario where it keeps high.

So, only reason Do Kwon even trying this is that he wants to print even more and try to keep UST pegged. If your system failed, it's failed, no reason to keep on trying it.

I have heard this campaign through various means. Many are saying that those who bought and invested in Luna High will be given back Luna.But how true it is is not yet well known. But anyone will take action Maybe Luna is in this situation today due to the negligence of the team. I will blame all the team for this Terra Luna going to this position.If every investor is backed up then every investor must be saved from loss.

As I understand it, voting for the fork has now started and will run until 27 May. So far almost 90% of the votes support the idea. But I cannot understand how fair this vote is, because so many people bought millions of LUNA for pennies and it is not profitable for them to get a new coin which will be blocked for a long time.

 Apparently this Luna will be renamed Luna Classic and a new Luna will be launched. Also people who held Luna prior to May 7th will get the new Luna Airdropped to them. It's will benefit to staker who Staked on Cosmos validators and would not withdraw because of locking period. Now new Luna price is big seen. Hope it will be good.

there is simple reason for the massive increase from the all time lows, that is so many people thinking that it couldn't be lower than the All time low and at the same time thinking that this coin could eventually recover back even a little thus the massive buying from the very bottom.
after the announcement of the forking rolling out the people that are buying in all time low started selling because they know that they won't get a share of the forked new LUNA and it's only for the holders before 7th may if i'm not mistaken.

Worried although change name actually developer will getting scam again with new Luna coin after take much profit, still not understand with holder and investor trust with Luna coin with drastically drop until 100%. I think not good ideas when launching with new Luna coin because can't get back to the top price. What ever with new Luna names and kinds keep can't guaranyee have the same price like old Luna coin bring back above $100.

if market give positive response luna price atleast could above luna classic, we need to see more what is utility offering in this Luna . is it still correlated with stable coin algorithm or not. staker getting loss with this condition although they get luna, they buy and stake it on high price but today price is shit.

Well, I consider this as a sort of mind diversion but this will not work and regain the trust that has been ruined already. These holders will be somehow but later on, they will just sell them and then step away from Luna. And don't think this was a good principle that the developer must have to do, they are just only making their investors a fool by trying to create another shitcoin or useless coin.

I'm not sure if this will give some light to the holders, they are still in hopeless sentiment after losing money.

Hey, im agree with u, im lost some % of my portfolio, and its rly sad was for me when i seen the new price of Luna XD
But everyone who loose any money on Luna should stay strong and just relax, lets find any new project to invest.
And im think if luna will fork, the new one Luna will so hard to create a good atmosphere around and it will be very hard to earn the trust of the community, its so pity, coz I and many other people had great confidence in, he was very promising like company

New luna tokens will surely not save the price of the current luna right now and even forking some experts will not save luna as well. Blue chip coins turned into shitcoin now, in my opinion that's why many people are angry it seems that the team not making good decisions for the sake of their supporters and investors.

That guy had the audacity to fake the 'Yes' votes despite the resounding nos against the fork.

https://www.coindesk.com/tech/2022/05/18/do-kwon-pushes-on-chain-proposal-live-even-as-92-vote-no-in-online-poll/

Talk about self-enjoyment

Those who are greedy will and those who still believe in what this Do Kwon is saying and what he will promise investors he will try to regain the status of his pet project, and as they create a new plan some will win but many will lose, it's cheap to charge Do Kwon than investing in his new shit coin.

I see what the developer Luna is doing is like a panic. making such news will not save their investors from huge losses.
even if these steps are properly taken, I believe the trust of investors will not return to them. a paint that may mark Luna and will not be removed by investors.

Those who are disadvantaged are those who invest when LUNA's price is above tens of dollars, those who profit take the moment when LUNA wants to be delisted, Attacker. Behind the multiplied profits there are also big losses. Even some people who bought LUNA at high prices reportedly committed suicide because they spent their assets on LUNA. Even if a new coin is created I'm not sure it will be as good as the previous LUNA, as the previous devs overlooked a fatal loophole.

I think from the news circulating on Do Kwon's twitter it's like that, it's just that we don't know for sure what Luna version 2 will look like and of course it's likely that not all Luna holders will get Luna V2 because there are several people who bought Luna when the price collapsed. up to $0.000001 so it seems impossible if it is shared with luna holders, maybe there will be a snapshot announced before the price collapses so that everyone who owns luna is recorded.

Luna coin got delisted from Binance because of it's serious dump. The projects is said to have been abandoned by those behind it. Although, there are rumors saying New Luna will be innovated and this new Luna would be called Luna Classic which will be use compensate those long time hodlers of the coin. People are at big loss, some people even got their future trading accounts liquidated because of the dump of Luna. Let's wait and see what will become of the coin.

Those who bought later will get screwed. They were greedy and wanted to get rich on other people's losses but they lost their money instead. Nobody cares. The way I see it, whoever bought LUNA after the hacked, donated their money to DoKwon and the other LUNA holders.

But let's wait first. Maybe DoKwon will come up with another token for the people that bought LUNA after the hack. Who knows? Life is full of surprises.

Which will be disadvantaged still people who invest, because for development there are other things they pursue from the launch of the coins they issue, when the target is achieved, then they will leave everything, so think to be careful in starting all this, because of the target The achievements they make may stop when we start buying in large quantities and expensive.
Luna is a big example, that many people are trapped in conditions.

I also think so because there are always unexpected surprises so I really won't miss them, I might just be holding a little luna even though it's already reached the millions of coins that previous billionaires have, so there will be surprises after the 27th, but you are looking forward to the news about Burn tokens that are immediately carried out by the team.

Now, now...  let's not be so hasty in our judgement.  Buying on the dip is part of the investment, and we can't fault people for wanting to get rich.  That's why we invest.  

I was one of those buying after the hack/attack/whatever-cause.  My gripe is that many of us were not aware they added almost 6.8T coins IN 3 DAYs to the existing 764M coins (a regular company would need to have shareholders vote on increasing outstanding shares)...  that's almost 9000 times more!!!...  and dilute its value a lot more than it would have been on its own downward.  By the time we found out (end of the 3rd day), it was too late.

i mean the luna project developer will replace it with a new token as compensation, if true it is a very wise thing for the development team to do, but if have to buy new tokens again i think it's just bullshit, if have to buy another i think its better buy coins that have good potential such as ETH and BNB, because these tokens have a great opportunity to be able to give you big profits, and replace the money lost when investing with terra luna ,

Who's going to take this risk! Many people have been bought lune after death, how idea? Lot of luna investors leave now and they will never come back again so if luna will giving new token and then it can up surly? No way because fund and investors community power indeed for a project so mostly i can't believe there new token success.

almost many people do not believe in the development of the new version of luna. people talk social media history. this really kills itself and although there are shortcuts I don't think it's worth the mistake made yesterday. maybe many people will leave Luna gradually and switch to other coins with good potential in the future. surely big investors are very disappointed

No matter what Luna developers do next, people would have no trust in this project and I don't think anyone should buy the new version of LUNA where there are so many tokens that are much better to invest in them. Also, people have lost trust not only in LUNA but also in all the algorithmic stable coins.

i think everyone has gone crazy and lost faith in this project let alone have to buy a new version of luna tokens, i think it's just a trick of the terra luna project developers, i think if they don't plan to cheat their users they should be able to provide clarification on the cause luna prices suddenly drop, but instead they just walk away taking user's money, and as the OP said luna holders will get new tokens, I thought it was just a joke.

The Luna incident has had a lot of ramifications in the bitcoin industry. I have nothing against Luna, but based on what I've seen, all of the rescuing or reversal attempts may be futile. Would you rather possess a new coin that is more valuable than your most recent Luna or UST money (which are currently worthless)?

Terra Luna will explore in the nearest future. It's just a matter of time for it to pump. Is rather unfortunate for those that are long term hodlers, they lose most of their money during the dump of Luna. Although most investors have pulled their money out of the projects, they are been scared of losing more money. Yet, more investors are now reinvesting their capital. Like when Luna added more zeros, 0.0000022. This was a great opportunities for traders who were smart. They invested wisely and when the coin cancelled 2 zeros. They made Hugh profits. One thing I believe is that Luna will retraced back to $100.

I wonder how they can compensate Luna Holders.  How does a 1B supply fit the current 69+Trillion  supply?  The evidence is shouting that there will be another batch of bankrupt investors.  Forking isn't the answer to the current Luna problem, even CZ gives a hint about it, but the Luna CEO took the easiest and dumbest shortcut while prioritizing their own pocket neglecting new investors who supports the Luna Market during its crash.


Even the Luna CEO lost faith on the current terra market, that is why he is creating a new Terra to have a fresh separate market as a start.

Yes, and I don't think this is enough to compensate people who lose their money because of the trust and confidence they put in them. In fact, I'd consider Terra Luna to be a good project but unfortunately, they have tricked us people, and nobody was able to see it happen. And now they are offering some diversion but never I think this will bring back the trust that these investors made before.

this is really true even the CEO himself has lost faith in LUNA and this kinda proves that the current LUNA is beyond any saving and to think that their one and only solution is basically doing a fork
and thinking that the current crisis gonna be resolved by just replacing the original luna with a new ones.
I think the LFG should just reimburse anyone that invested in their altcoin before 7th may so that it's gonna be fair, the reserve left in their hand should be for anyone that has lost from this massive disaster.

I don't think they will do that, reimbursing all their holders because of the losses. They are just looking for a route here how to get out of the mess. And the promise of a new coin derive from forking is I believe, their way of saying to its holders that there's hope with what they are holding. But the truth is, they won't succeed in this move. They already know that.

Not in the near future because Luna and its team have many challenges and difficulties to come back again after this crushing failure. This crush that happened to Luna was a lesson that is not easy for any investor who holds his tokens in the long term without monitoring the token and its updates, It would be better to get back the capital that you invested if you made good profits from the token and when any crush or unexpected thing occurs, your capital will be safe. I see that the price of $100 is not logical at all, because the price of Luna will have exceeded the market cap for the crypto market.

Nobody opposed Luna, but many people began to be disappointed with this coin trip, what was aimed at that time at a high price, did not make Luna even better for now, I think Luna's chance to fix everything was almost finished, because people were no longer putting great hope for this coin, personally I have diverted attention to other coins and stored USDT for now

They only had 1 chance to fix it but it seems that they ignored the advice from the large community and also from CZ, so there is little chance of success for the Luna fork the new coin because it was developed not from the real community support factor.

I think its not a good solution to raise LUNA's name back to the surface and regain the trust of its holders, because they are already disappointed with what the development team has done recently, maybe one of the most appropriate ways at this time is the developer re-managing the terra luna coin and working with big entrepreneurs to be able to give each other profits so that the price of luna can increase again, and luna holders can get their money back.

CEO luna will not compensate investors who suffer losses, many crypto companies claim that Luna can rise again, but the CEO doesn't care about that.

Investors who suffer losses they don't ask for compensation, they need burning Luna tokens, it's better than compensation.

What all investors hoped he didn't realize apart from prioritizing his interests in minting new coins, then there's no need to speculate on positive news because actually there is no hope even for the new luna tokens, so on the 27th is good news or continued suffering for investors.

I'm sure Luna can rise again in the current year, or at least can rise 10x from the current price position, a few days ago I bought Luna about $ 50 and now has a profit of more than 200%, and today I bought again with $ 20 and has risen more Of the 5%, this is a good opportunity to buy Luna because I followed Luna's development.

Now if the luna market gets better then it will be seen that not here it will go as far as before but here in Elonga what is to be seen on top of the classics but as before the unity is off and here it is stability and what is being lost here in this condition if they  If he doesn't get it, he buys it here at a high price and it has been torn to shreds

Although LUNA is considered a big con and even a criminal to most people, but with the new LUNA tokens that will be distributed soon proves that the Terra LUNA team is responsible for this incident. attacks render all of them irreversible and the only way is to make new coins with all the new stuff.

I'm not sure that Luna will improve, where many market conditions have rejected LUNA's existence, only the holders hope that Luna will return
let luna be the history of the big crypto disaster for now
I hope LUna becomes / as a lesson if investing in crypto, don't let all of these assets exist . because one incident will definitely happen without us expecting it in the crypto world

If they don't compensate those who lose then it means they will only compensate those who earn? I think that doesn't sound right. They already earn anyway and even if they suffer from a loss, that won't be devastating at all but we should feel sorry for those who lose huge.

Not only the companies but many common individuals still believes that this coin can rise and they are now filling their bags more with more luna but if it's true that ceo of luna don't care anymore then there is no chance for this coin to recover and maybe there's no compensation that is going to happen and most of all there is no burning, whatsoever. Much better if people don't hope too much.

If they weren't able to handle and manage Luna right, then how will they be able to handle another coin? Lots of investors are now in distress because they have lost even their life savings because of too much trust in Luna. I don't think any coin that is connected to Luna would still succeed because investors have a traumatic experience about investing in it already. They will only think that a new token will only cause them another damage.

I don't think it is not considered that the suggestions given by large communities and also CZ, but indeed the opportunities possessed by Luna are really small to improve, because the price reduction is so sharp and a fairly short time, making the community and investors start thinking of coins This has no power in defending, so many people are predicted by them to leave, this factor in my opinion is not heard by development, they tend to go without wanting to improve

I saw that the Luna coin market went up drastically today, maybe this happened unexpectedly because when the Luna coin was not trusted and many were selling it suddenly the price started to rise as evidence that the Luna coin will recover even though it takes time to rise.

In my opinion the best solution from Terra who dropped in the market is to immediately convince investors and make a trusted coin stable, and for the short term is to pump again so that it makes investors do not hesitate to return to terra, but if it only gives New Token certainly does not make investor trust with terra.

It can also be a new trap for everyone because the potential to go back down is also still with Luna, so be careful about dealing with it before you get caught in it again because investors have also warned about it for now.

Maybe it is because investors are trying to take advantage still of the fall hoping that someday it will soon recover. Or it is just simply a hobby of most people in crypto to just keep on buying coin or token at the lowest or coin that has been attacked or fell hard. But actually, I have never seen a coin or token that recovers after falling hard so that is why I don't think it can still recover no matter how good of a coin Luna was. We should be very careful investing. Not because the coin somehow recovers from the fall doesn't mean it will recover and be back to where it was after some time.

There is no end to the controversy. Different types of news are spread about this Lunu Token. I got a news there where they said they would create new tokens and they would be given as an airdrop among the affected investors. Those who purchased Luna for one dollar or more will be given a percentage and those who bought below it will be given a percentage of airdrop.

I think the same as you, for me the project is somewhat dead, because where will they get all that money from? How can they recover? unless they are like an Elon Musk who has so much money to respond to each hodler, I see it very difficult, but it should not be surprising, this type of thing usually happens in altcoins, although they can offer the tokens but they are just that tokens, and I understand that they can only rise in price if the BTC is in a bullish trend and if the investors who are from BTC decide to put their money there as a refuge, and that usually happens rarely, but with everything that has happened I think that the security is what counts, and I think that many investors no longer have trust.

it is just a kind of camouflage with the aim of attracting people's attention, especially trying to get back the trust of investors. I can't even imagine the big investors out there buying LUNA coins, say $2/coin, many them frustrated and unable to accept the circumstances. on the other hand I personally would not expect much with the new version of the LUNA coin.

Various strategies are being played by the terraluna team to restore public confidence in the terraluna. and the new coin is a team strategy to get a bigger profit. even though their aim is to restore the ground in the market. but if I notice that the chances of terraluna are very small to be able to recover, because terraluna has been considered a coin meme, even though it was once in the top 10 coinmarketcap.

I doubt the truthfulness of this LUNA that is been invented. I just feel they’re trying to bring in more or new investors into the project again and trying not to lose but to gain the attention of people that invested in it earlier. All this looks like an hype thing to me, that will be hyped now and then later dumped because am not sure it can regain its initial value like before again.

Their compensation plan with the new luna token didn't work either. People who lost thousands of dollars due to that cash get new tokens worth of few dollars. Old UST holders get more than old luna token holders. The whole ecosystem is now messed up and only some unique idea and magical work can restore its previous prestige.

Without transparency and honesty, it is impossible for them to rebuild Terra Luna 2.0. The community are in pain and they don't trust Terra team again if they don't see any big signal of transparency, honesty and community-care orientation.

I wish investors who want to take risk and gamble with Luna 2.0 will have happy ending. I don't want anyone to lose money but we all know the market is a zero-sum game. Money comes from others to your wallets and moves from your wallet to others. It is a cycle, who are winners, who are losers, and you can be both winner and loser, just be one at different time on the market.

But this doesn't solve the problem that the investors facing, loss at their investment value.
We can't imagine if we bought Luna to invest it for long term, and suddenly it become not valuable anymore.
Even with new coin Luna v2, the market cap doesn't have same value from the old Luna before the incident.

We've all gotten the new coin and rekt with it. I wonder those that did the thinking of creating a new coin to Do Kwon. Apply tax method on transactions would have been the best way to retain the trust people had in him. Why would any investor go into a project which was created because it initial for was attacked and abandoned instead of being defended.

Do Kwon do the wrong move by creating another fork coin, he didnt consider the advise of other investors which burn supply of the old LUNA and stop the minting, In this way it could saved LUNA instead of another failed coin, price crash and untrusted project. 

Apparently, the research released by the South Korean government in cooperation with the SEC organization points to an internal scheme of the working group. According to him, the South Korean government issued a travel ban for all employees who were working on the project.

The American SEC organization had announced the opening of an investigation against the company and its owner, who rumors circulated in the media that he might be involved in obtaining 80 million dollars from a suspicious source, despite the latter’s statement that he only had all his money with the collapse of the project

With the creation of a new coin, this coin still has a sizable market capitalist even though the price continues to decline and currently a bridge platform is available so investors can re-enter to make exchanges, despite the rumors above whether this project is still feasible for long-term investment. look at the current price is still very cheap?

LUNC has the same pump right now. It seems like both LUNA and LUNC have the trade volume so low now that any move from whale to accumulate those two will have a strong impact on its price.

I really don't think Project Luna will suddenly rise from the rubble. What is happening with the new version of it is similar to the process of throwing ashes on the eyes (like an Arab), it is only an attempt to silence public opinion and to make them be patient with those who lost their savings because of Luna, including the trading platforms themselves that must list the new currency in the hope of recovering as much money as possible which They lost by the Luna collapse.