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What is your investment plan?
Long term, medium term or you are simply trader or speculator
Because if you are investor, 1-day chart is not enough for you. You need to have a wider view with chart, with 1-week, 1-month chart.
If you are trader or speculator, 1-day or smaller windows are enough for you.
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It takes 5 years to try to investigate about it, so think of this news?
Is it real or just another fud? Personally, it is another fud from market markers in order to dump crypto market, Bitcoin and BNB. They have tried to release many fuds, from FED to SEC, mining to crowdfunding, etc.
Time passes and we will have another period after this fud period. Stay strong and keep holding your Bitcoin and BNB.
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Exactly. Governments hate Bitcoin because of its decentralized and censorship-resistant design. The reason why central banks and governments are planning to create digital currencies of their own is to gain more control over people's financial activities. After all, it's impossible to keep track of every transaction performed with Fiat at its current state (especially when it relates to transactions performed with paper money).
They tried to test their compromise with censorship on Bitcoin Proof of Work network but failed. Bitcoin has proven its censorship resistance very well and onward we will go to brighter future with more belief in Bitcoin. Time goes and we will see more people converted from Bitcoin outsiders to Bitcoin insiders. It needs time but time goes always and we will see this growth chronologically. With CBDCs, privacy would be over as everything will be highly visible in the government-controlled "blockchain". The pandemic is changing our society in ways that we've never imagined, accelerating the adoption of digital payments at a large scale. Who knows if we're closer to a cashless society than we've ever thought? Just my thoughts  CBDCs are centralized, can be censored, can be traced by centralized owners so such currencies won't give users any privacy. Governments can use blockchain technology to build up their chains, ledgers but without decentralization, privacy it does not mean a lot for citizens. They will use CBDCs for some transfers in their lives but they will more prefer to really centralized currency like Bitcoin. |
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This campaign from MEXC is a real campaign from them, a few days ago they announced it on their announcement page. You can visit the following link to see this announcement information from them. My question is, can MEXC's plan really make Terra (LUNA) recover?  MEXC is a medium exchange so with their medium trading volume, they can not help. Trading volume in Luna Classic on MEXC is not high so I appreciate their support and initiative for Luna (old) community but if only MEXC exchange has buy back and burn, it won't help Luna Classic to recover. To recover from the hell, Luna Classic must get more support from exchanges but will exchanges do it? this honestly isn't a recovery plan instead it's just a ordinary giveaway, $5000 is a really small fraction compared to what all of those victims of luna has lost.
even $5000 was distributed among many people, if mexc really have partnership with LUNA in this giveaway then I could say that maybe LUNA has finally run out of their reserve in holding back UST and LUNA
because honestly $5000 shouldn't be called a recovery plan because it's not gonna recover anything.
Things will be good only if Terra successfully to rebuild Luna (new) and their team announce and actually use income from new Terra operations to buy back and burn Luna Classic. It would be done by Terra team as biggest contributor to buy back and burn. Exchanges, validators can help but Terra team should be a leader in this campaign. There is LUNC DAO has buy back and burn from staking reward of their validator but I don't know how long they (and MEXC) will do it? https://twitter.com/LUNCDAO |
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This market cap has fallen 43% since the start of the year, which is equivalent to $1 trillion leaving the market.
43% means it can fall more. Historically Bitcoin has more than 80% falls in previous bear markets. I don't imply that Bitcoin will repeat 80% correction in this bear market. It might or might not have it but it is a view from past cycles. For those of you who have been on this forum for a long time, I would like to ask about the current state of the crypto market. Does this mark the start of a protracted bearish cycle. Like in the 2018-2020 season?
Market can change its sentiment and direction any time. Because if everyone are bullish, market will turn to bearish. If everyone is bearish and have very negatively sentiment, market will turn to be bullish. Leverages as long and short and future markets are helpful to turn market around from bull to bear and bear to bull. Turning points appear and are confirmed if you see big moves and spikes in trading volume. |
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Stable coins have drawbacks on how they back their values with reserves. If they use algorithm and token-minting mechanism like UST and LUNA from Terra, that is terrible. You can not create a stable asset which is backed by a basket of all volatile assets. Even you add 100 volatile assets in a basket, it is still volatile. It is like you open a margin position on exchange, which is backed by a collateral from 100 altcoins. Is it safe for your collateral from liquidation ?
CBDCs can be safer because they can be backed by physical assets like fiat currencies or gold bars but we can not verify their reserves. Moreover, what happened in Venezuela with their Peso fiat currency is an example that CBDC from small nation likely weak and vulnerable to financial crisis nationally or globally. Recent months we see what happened with Russian rube and it is another example.
However if I have to choose between CBDC and stable coin, I will choose CBDC from big nation like USD.
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Where is the link to the source of this announcement?
Source is from https://twitter.com/MEXC_Global/status/1529478233582088193What I saw is that the MEXC platform is only buying back and burning its own currency "MX" For the Luna Classic, the MEXC platform was one of the first platforms that supported Luna Classic and listed it, but if the ANN that you mentioned is correct, this will undoubtedly help the Luna Classic holders to compensate some losses, although the MEXC platform has no fault in that.
I don't know the effects MEXC can create for LUNA community (now Luna Classic community) because the big drawback is trading volume on MEXC is not too high. They are not Tier 1 exchange. However I expect to see more support from other exchanges, especially Tier 1 exchanges. If they step in with such similar support like MEXC, it will be massive for LUNA Classic communities. Lune 2.0 after its launch, the loss of its price is already negative. I am not sure if they started this 2.0 at the wrong timing especially in the current market condition and after the tragedy on Luna.
For me, the trust of the people is already broken for Luna, even how the team is explaining to people, the amount lost on the Luna - UST is really huge. They can fix the issue or problem with Luna, but the trust seems impossible.
Maybe the Terra team and Do Kwon wanted to launch Terra 2.0 as soon as possible in order to reduce their legal issues potentially. Not sure they will succeed with the intention or not but in reality investors who got painful loss after the attack are still very disappointed with airdrop and Terra 2.0. No matter what price they entered from $60 to $1 and lower, they got same rate in the airdrop for Post-attack LUNA (old) so that is crazy airdrop. From this, we can see the purpose is not to heal the painful loss for investors, small investors in particular. |
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Terra just have its version 2, Luna and the old Luna will become Luna Classic.
With the new chain, no UST.
With the old chain, UST is still there.
No buy back and burn for UST. Terra stop over minting new Luna Classic but without buy back and burn, price will not be able to recover.
LUNA 2.0 is a shitshow in my opinion.
MEXC exchange already officially announce and do buy back and burn daily from Luna Classic trading fee on their exchange. Will Binance do the same for their users, for their community with many members, users lose money in Luna Classic.
Do you think Binance will do that?
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what i am worried about axie is do they really have long term plans here? like many other seemingly solid projects, we have no clue about the real plans of the axie team. what if one of the members decided to cash out and leave? so if you are an axie player, i think, better cash out some of your coins at least getting your initial investment. and then, the rest you can always cash out whenever you want to. but secure your initial investments so it won't be hard for you if in case something goes wrong with the platform.
Very high likely that there is vesting term for internal members so their internal staffs can not cash out all AXS or SLP they have if it is from their investment internally. I don't think a big project like Axie Infinity will have rug pull. With this great success, their internal team members can easily buy their tokens 2 years ago, even on the open market with cheap price and sell in bull market last year at all time highs. With huge trading volume in last year, it is not a big issue for anyone to cash out. Now their project is in trouble after the hack and side effects from bear market. They are builder and leader in blockchain game so no rug pull. |
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The golden formula is complex and a mixture of many things.
- Capital: where is it from?
- Strategy: what is your plan with it? Investment, trading, gambling
- Time: what is time you plan for your investment, trading, gambling
Capital should be from your own money, which you don't actually need in a long term. Because crypto market is very volatile and you can not enter at bull market and if you enter in start of a bear market, you won't get profit but only loss before bear market ends and recovers. So if you have to sell your coins in bear market, you have huge loss.
Strategy should be investment, long term with your own money. Short term or mid term will be bad if you have to exit in bear market.
Time, it should match with your capital and strategy. Own money and long term will help you have enough time to at least exit when bear market ends and if you don't have profit, you will still have opportunity to get capital back or at least reduce your loss.
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A lot of traders bought Luna when its price was very low and now they have millions of coins that were purchased for $20. And now the natural desire of such holders is for the coin to return to the previous price and they get a profit of hundreds of thousands, or maybe even millions of dollars. But these are just dreams)
The proposal sucks because they only have one snapshot for pre-attack, another snapshot for post-attack. There are lot of division and loses for their investors in between pre and post attacks. There is a simulator for airdrop estimation and if you look at it, the airdropped is terrible. Not yet including vesting and cliff time. https://terrarity.io/luna-airdrop |
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I believe the community will vote yes to support the recovery plan from MEXC. However, that exchange is not big, not a tier 1 exchange. Trading volume is not big so their initiative to buy back and burn LUNA from their trading fee from only LUNA pairs would be not enough.
We need similar initiatives from other exchanges, especially from Tier 1 exchanges. At least there is effort and we can hope that there will be more and bigger initiatives from bigger exchanges.
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It is difficult for Luna to recover as it was before the collapse. Unfortunately, Luna lost the trust of the community and turned into a coin for quick speculation and not for long investment. The currency team put a very promising plan to restore Luna’s position, but there seems to be a difference of opinion as well. It is difficult to regain the confidence of the entire community after what happened, but in any case, I hope that the rescue plan will succeed and the Luna coin will regain its position again because this will have a great positive impact on the crypto community.
It is a money game and we are not the game and market makers so we don't know what will happen. The collapse of LUNA is massive and very terrible, unprecedented but let's see how this game will end in future. At least LUNA and Terra will not die. The vote for rebirth of Terra was passed and Terra 2.0 will be launched in 2 days. The current token LUNA still have unclear future. It depends on community, exchanges and capital ventures, not Terra team. It is disappointed to see Do Kwon and Terra want to abandon it as soon as possible and leave it to community. Recover impossible because of Supply. I think Luna turn into a Memecoin like Shiba.
Yes, if there is no burn of the token to reduce its total supply, it will be a Memecoin like Shiba Inu. There are efforts from MEXC exchange to ask for community vote. If the vote is yes, they will use their trading fee from LUNA trading pairs in order to buy back and burn LUNA. If other exchanges can do the same, it would be massive. |
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Binance has been even loosing billions unrealized profit caused by the price dumped to the zero value
Do you really believe that Binance lost money in this crisis? They did not move their $LUNA from their wallet since 2018 and I am sure they have loss in that investment. However, they likely got profit from the crisis, from margin liquidations along the crash in both Long and Short liquidations. There are more Long liquidations than Short liquidations but there are many x10 rallies along the crash that kill Short positions too. They would have earned more profit if they bought at bottom and sold at 500x higher price just one day after a delisting day. Im sure that investors will never come back again to this platform. that's enough to see that if so many people got destroyed by the developers.So many tokens were getting locked already worth zero value as well. Look at how UST stakers are loosing their whole life caused by the dump and yeah this platform has been ruining so many people's life. The question is why there are new people keep buying this garbage token.
Shitty scam token
It is not true. People are still hodling $LUNA and trading it intensively. Trading volume shows that. |
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Use your money to stack sats with time. Don't borrow money to stack sats.
Because when you have a loan, you will have a loan repayment day, then you will have pressure to make loan repayment. In bear market, you will don't know what to do. If you hold your sats, price falls and more pressure for your loan repayment. Worse you will have pressure from liquidation when your collateral falls to the liquidation price.
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If you analyze a 4 year cycle (based on the bitcoin halving), this trend is just routine and will inevitably experience a price bounce. Likewise, the top altcoins which are usually influenced by bitcoin prices will experience the same trend.
But here I'm not talking about altcoins (or alttokens) that grow based on hype, looking at the fact in the last 5 years maybe 90% of them have failed to recover.
Market has its cycle that will be repeated. People have their basic instinct that they mostly don't change. So winners will be winners and losers will be losers now and in future cycles. Because most of losers don't change. They only can become winners in future cycles if they are able to change themselves. Another note, there will always be regret in every price trend, even if you make a profit from it. But what can you contend with when faced with the discontent that inevitably clings to the ego? What they really want is to buy at the bottom and sell at the top
Market has many opportunities and cryptocurrency is here to stay. It will mature more with time so you don't have to be fearful that it will die next year and no more opportunity for you. Let's get rid of such non sense fear. When you don't fear of missing out, you will be safe and you will have other opportunities to take at better entries. |
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This is the key point, you could be involved in crypto and maybe it is risky, we are seeing how risky it is right now because the markets are down, but can you say that stock market doesn't go down like this neither? It does go down and we need to realize that already.
It is what people see but not what they should do or recognize. What do they often see? - In bull market, they see chance, not risk - In bear market, they see risk, not recognize there are good times to find really good projects that will bring profit for their portfolio later. I have to say that crypto is doing great if you ask me, it is not going to be that difficult to recover from this, sure Luna will not recover but bitcoin or ethereum will recover. If I am so sure about that but not so sure about the stock market then it is clear for me to invest into which one. People need to realize it, this is still the least riskiest thing to invest into.
Crypto is still young. It will mature with time but it needs more time. If you believe it, it is time for you to strengthen your belief and increase your knowledge for more growth exponentially of cryptocurrency and blockchain technology. |
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This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.
Two possible future for you. - You can get your capital back 100% if you chose good projects fundamentally. Even if you bought it at all time high, you still can have chance to get it back. - You will lose more than 70% up to 90% or higher if what you chose are bad projects fundamentally. Because the bear market is just started and has yet found its bottom. Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.
It happens many times. In bear market, altcoins lose more than 95% of their values from all time highs. After the bear market goes away, most of altcoins die. https://coinmarketcap.com/historical/ |
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May I ask what is your motive in Buying Terra Luna ? though you claim to be New to the market , then why on all the currency you are aiming to a coin that had been called Biggest scam of crypto this year .
Sorry but I think better change your mind before becoming another loser like what those people who lost Billion of dollars recently .
LUNA now is becoming the most favorite altcoin for gambling. There are many gamblers in $LUNA than in other altcoins. I don't know how it will move in coming months and will it make many people get rich like Shiba Inu? I don't know honestly It is because of the hype just like Shiba Inu got before. Everyone is rushing to buy it before the believed pump comes. Honestly, the pump for it after it had gone almost zero has already happened. People still putting their hope on it but I'd say that there's no more expectation that it will be the same as before, it's gone and almost dead. Do not follow and catch those falling knives into your hands if you're thinking of investing huge amount.
Shiba Inu has big communities and it is not wrong if I say Luna has big communities too. Anyway after the shock, communities and whales must to rebuild their plans for future. If there are games in future, it must be rebuilt. So I don't expect to see any big pumps in near future. Back to the question of OP, Binance is the best way to buy LUNA because CZ repeatedly said that Binance will support community no matter how the vote will end (hardfork or not). The latest article published on Binance CZ’s FAQ 8 - On LUNA/UST and Taking the Right Risks |
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