Terra cofounder Do Kwon is the one who is pumping Bitcoin

[tygeade]

@Kemarit. This is much more different, however. Terra Luna and UST were supported as part of the cryptospace's bluechip ecosystem. The concept of algorithmic stablecoins was something that was going to bring everything more independent from fiat currencies. I reckon as an idea it is something the cryptospace very much needs, however, the implementation is clearly much harder to make.

In any case, the intruder who went to Do Kwon's home talked to news reporters and said that he lost $2.3 million in Luna and UST. This might be clickbait. The reporters should ask if $2.3 million is being valued when Luna was more than $100 per token or if is investment started with $2.3 million.

Algorithmic Stablecoins were tried and tested way before UST and people decided to ignore all of them because they were low ranked. Just last year during spring months we had like 10 of them crashing all at the same times give or take. People ignored that about UST, why? Because, they were low ranked terrible projects that went down because they were terrible and low ranked and UST wasn't.

Now that we are looking at it, we know there is no difference. You need to realize that we should be focusing a bit more wards something that is a bit realistic and realize that if one thing is bad then the other one is bad as well and there is nothing we can do about that.

[1715363894]

1715363894

[1715363894]

1715363894

[1715363894]

1715363894

[fzkto]

LOL. It's very relevant to see this thread now, after scammer Do Kwon dropped the whole crypto market and stymied people's faith in the bright future of altcoins, which can turn to zero in a few days. What happens next is not quite clear either. It is possible that all stablecoins will start to be regulated and then bitcoin will be difficult to pump up again just by turning on the printing press.

[Wind_FURY]

Tin-foil hats on. Do Kwon was planted by the CIA to build/set up Luna/UST for a massive failure that will open an opportunity for the government to start FUD, immediate regulations on stablecoins, and make way for a fast release and execution of the Fed's CBDC.

[Daltonik]

Meanwhile, the vote on the Terra blockchain hard fork passed the quorum mark, although Do Kwon made changes to the distribution of tokens of the new network after the start of the vote, as he put it "taking into account the opinion of the community", which of course contradicts the principle of decentralization, let's see what they get in the end.

[Daltonik]

The list of CEX who supported airdrop Luna 2.0, as well as details about the distribution among holders before and after the attack can be read here: https://agora.terra.money/t/terra-ecosystem-revival-plan-2-passed-gov/18498

[bbc.reporter]

Meanwhile, the vote on the Terra blockchain hard fork passed the quorum mark, although Do Kwon made changes to the distribution of tokens of the new network after the start of the vote, as he put it "taking into account the opinion of the community", which of course contradicts the principle of decentralization, let's see what they get in the end.

I am not quite certain why many investors would go back there and invest in Luna again. It will be something similar to discovering being cheated by your girlfriend, you separate from her and go back to her again despite of the knowledge she cheated on you hehehe.

However, it cannot be underestimated how many projects in the cryptospace survive after a hack, a theft or an emergency fork because of an exploit. In any case, Do Kwon might buy bitcoin for Terra's treasury again. I will lock this if I have confirmation that he will not be buying.

[btc_angela]

I am not quite certain why many investors would go back there and invest in Luna again. It will be something similar to discovering being cheated by your girlfriend, you separate from her and go back to her again despite of the knowledge she cheated on you hehehe.

I mean we investors are not going to be fooled twice by Do Kwon, if we think rationally, yeah we shouldn't reinvest on this project.

However, it cannot be underestimated how many projects in the cryptospace survive after a hack, a theft or an emergency fork because of an exploit. In any case, Do Kwon might buy bitcoin for Terra's treasury again. I will lock this if I have confirmation that he will not be buying.

The only difference though is that we are in a bear market, and we have a lot of noise in the background like war and inflation. So now sure how new alt coin projects are going to survived in this scenario unless they are going to used the old but effective tactics "pump and dump" scheme.

[AmoreJaz]

I am not quite certain why many investors would go back there and invest in Luna again. It will be something similar to discovering being cheated by your girlfriend, you separate from her and go back to her again despite of the knowledge she cheated on you hehehe.

I mean we investors are not going to be fooled twice by Do Kwon, if we think rationally, yeah we shouldn't reinvest on this project.

However, it cannot be underestimated how many projects in the cryptospace survive after a hack, a theft or an emergency fork because of an exploit. In any case, Do Kwon might buy bitcoin for Terra's treasury again. I will lock this if I have confirmation that he will not be buying.

The only difference though is that we are in a bear market, and we have a lot of noise in the background like war and inflation. So now sure how new alt coin projects are going to survived in this scenario unless they are going to used the old but effective tactics "pump and dump" scheme.

maybe some of these investors are just hoping that they will get back their lost funds. now, i am thinking that do kwon's team knew that this crashed was coming as based from the OP's post last march, they were buying more btc, so they were just making their investors believe that there's bright future for terra. but at the back of their minds, they are about to cash out their bitcoin and now, crashing their UST stablecoin. and then, claiming that they did not benefit on this crash? i don't think so. they already secure their pockets before this crash.
you are right, i hope these investors are thinking smart, do kwon's team is here again for another scamming stunt.

[Frengki_cisco]

It appears the cryptospace has found a bigger celebrity investor than Michael Saylor or Elon hehehe.

No Do Kwon, can't beat them, Do Kwon's wealth is not comparable to them, the founder of Terra Luna, now the trust of the crypto community has lost, it's all his own doing,

if Do Kwon is the newest celebrity, what's happening right now is the worst thing he's ever done.

[Quidat]

It appears the cryptospace has found a bigger celebrity investor than Michael Saylor or Elon hehehe.

No Do Kwon, can't beat them, Do Kwon's wealth is not comparable to them, the founder of Terra Luna, now the trust of the crypto community has lost, it's all his own doing,

if Do Kwon is the newest celebrity, what's happening right now is the worst thing he's ever done.

Would really be his first and would really be his last because once the community had been fooled by someone or somebody then expect that you wont really be getting any attention or recognition on the next
time you would tend to advertise or recommend something even if he tries to revive that Luna which have now that fork which is lunac as i know which it do plummets its price before it would hit up
on binance this friday. Do the community would really be fooled twice? I dont think so thats why they should really be wise on what are the things that they've been doing.
Community is the main player of this market even though these big fellas could give out big effects on the market but doesnt mean that they could handle everything.

[bbc.reporter]

I am not quite certain why many investors would go back there and invest in Luna again. It will be something similar to discovering being cheated by your girlfriend, you separate from her and go back to her again despite of the knowledge she cheated on you hehehe.

I mean we investors are not going to be fooled twice by Do Kwon, if we think rationally, yeah we shouldn't reinvest on this project.

However, it cannot be underestimated how many projects in the cryptospace survive after a hack, a theft or an emergency fork because of an exploit. In any case, Do Kwon might buy bitcoin for Terra's treasury again. I will lock this if I have confirmation that he will not be buying.

The only difference though is that we are in a bear market, and we have a lot of noise in the background like war and inflation. So now sure how new alt coin projects are going to survived in this scenario unless they are going to used the old but effective tactics "pump and dump" scheme.

Agreed. There appears to be cryptofunds that continue to support it, however. There are also centralized exchanges that have listed the token of Luna's fork with the original chain being called Luna Classic. This sounds very familiar heheheheheee.

I disagree that many altcoin projects will be pump and dump schemes. They are only good for bull markets where they can make easy money. The bear market is a time for building and a time where only the best development teams will survive and enter the bull market. Will it be Luna? We cannot be certain.

[pooya87]

Do Kwon will certainly go to prison for this.

I don't think there is any law against creating shitcoins otherwise there would be thousands of shitcoin creators from ethereum founders to AKIHIKO (that's the shitcoin at the bottom of CMC list LOL) would have been in jail.
Basically they created a useless garbage, idiots who refused to listed to the rest of us bought it and they ended up losing money as we predicted.

[bbc.reporter]

Do Kwon will certainly go to prison for this.

I don't think there is any law against creating shitcoins otherwise there would be thousands of shitcoin creators from ethereum founders to AKIHIKO (that's the shitcoin at the bottom of CMC list LOL) would have been in jail.
Basically they created a useless garbage, idiots who refused to listed to the rest of us bought it and they ended up losing money as we predicted.

However, after what has occured where there was around $45 billion of value erased, the regulators might find a reason to begin investigating this. It might arguable to say if it was intended to be a scam but Luna can also be charged as a ponzi scheme and regulators will use all the powers they have to put anyone involved in creating this in prison.

Do Kwon is also being invited to attend a meeting of South Korea's national assembly for questioning.

[Daltonik]

Now Terraform Labs CEO Do Kwon is quite actively rejecting accusations that he cashed out $2.7 billion from LUNA and UST, according to rumors, he has been doing this for 3 years for $80 million monthly, according to @FatManTerra.
Do Kwon himself calls these accusations nothing more than rumors and urges to be restrained until the situation is fully clarified, I really would like the law enforcement agencies of South Korea to work hard on the investigation.

[Wilhelm]

Now Terraform Labs CEO Do Kwon is quite actively rejecting accusations that he cashed out $2.7 billion from LUNA and UST, according to rumors, he has been doing this for 3 years for $80 million monthly, according to @FatManTerra.
Do Kwon himself calls these accusations nothing more than rumors and urges to be restrained until the situation is fully clarified, I really would like the law enforcement agencies of South Korea to work hard on the investigation.

Or ask North Korea to help extract the info 

Anyway he's just as guilty as Bernie Madoff for projecting false profits and blowing up.

[buwaytress]

Man this did not age well, or shall we say, it aged terribly badly, terribly quickly!

Not laughing at your expense, bbc, I know I've stucky opinion into holes plenty so I am pot enough to not call out the kettle but yeah, he bought a lot, but it did not budge the market at the time.

Selling it shouldn't have either yet the BTC reserve selloff was roundly blamed or at least partially for the crash in BTC.

This. This is why all the Saylor and Bukele buys to me will never do much to lift prices.

That is the tough reality of markets. Few Fomo buy on the coattails of whale buys. But whale sells? Panic!!

[bbc.reporter]

@buwaytress. It is okay to laugh hehe. I admitted my mistake in this thread on page 6, however. It might be because the bear market was beginning and any good news was what hyped me without being my usual skeptical self hehehe.

You also want to laugh at something? Justin Sun has declared that he will buy bitcoin to use as the backing for his own stablecoin USDD.



To maintain the USDD algorithmic stablecoin, the TRON DAO Reserve continues to purchase BTC and TRX. The TRON DAO Reserve moved USDT via Binance Exchange to purchase more BTC and TRX as a reserve for USDD, according to Justin Sun.

Source https://coinquora.com/justin-sun-100m-usdt-was-used-to-buy-btc-and-trx-as-a-reserve/

@Daltonik. If there are institutional investors in America who lost their money in Anchor, I speculate that he will be exrtradited and he will be on trial in an American courthouse.

[buwaytress]

@buwaytress. It is okay to laugh hehe. I admitted my mistake in this thread on page 6, however. It might be because the bear market was beginning and any good news was what hyped me without being my usual skeptical self hehehe.

You also want to laugh at something? Justin Sun has declared that he will buy bitcoin to use as the backing for his own stablecoin USDD.

@bbc.reporter heh yeah, it's just so easy to shoot yourself in the foot when making predictions, analyses etc. Saw that Bitcoin dipped all the way to $21k earlier today, that was Saylor's margin call point, wasn't it? Know if he lost anything or did he dump in more collateral.

Bitcoin reserves to protect a stablecoin peg... hmm, where have I heard that debacle before? Funnier is probably that the model has been tried, tested and proven to fail many times!

[Daltonik]

<...>
Anyway he's just as guilty as Bernie Madoff for projecting false profits and blowing up.

I also think that this is so, especially since according to the investigation conducted by Uppsala Security, the wallet that caused the collapse of UST belonged to Terraform Labs, so investors suffered losses due to the actions of Terra.

https://sentinel-protocol.medium.com/part-1-debunking-the-lunatic-conspiracy-what-you-didnt-know-about-the-activities-behind-the-57227b75d5a6

[bbc.reporter]

@buwaytress. It is okay to laugh hehe. I admitted my mistake in this thread on page 6, however. It might be because the bear market was beginning and any good news was what hyped me without being my usual skeptical self hehehe.

You also want to laugh at something? Justin Sun has declared that he will buy bitcoin to use as the backing for his own stablecoin USDD.

@bbc.reporter heh yeah, it's just so easy to shoot yourself in the foot when making predictions, analyses etc. Saw that Bitcoin dipped all the way to $21k earlier today, that was Saylor's margin call point, wasn't it? Know if he lost anything or did he dump in more collateral.

Bitcoin reserves to protect a stablecoin peg... hmm, where have I heard that debacle before? Funnier is probably that the model has been tried, tested and proven to fail many times!

He might not have been margin called yet, however, if an investor begins to put more collateral to maintain a leveraged position, this is a warning sign. We should not forget that he used his company to issue debt to fund the bitcoin investment. He pays monthly interests for this debt.

I am not worred about Michael Saylor, however. Elon might be quicker to decide if he wants Tesla to begin selling their investment in bitcoin on a loss.



Tesla and MicroStrategy lost a lump sum amount during the current bear market. Both companies are prominent investors in the crypto market, with billions invested in bitcoin and other cryptocurrencies.

The two massive bitcoin and crypto holders are down by nearly $1.5 billion in combined losses. According to the data by Bitcointreasuries, Microstrategy’s, and Tesla’s bitcoin holdings, 130,000 and 43,000 are worth way below the initial purchase amount.

Source https://watcher.guru/news/heres-how-many-billions-elon-musk-and-michael-saylor-are-down-from-the-current-crypto-crash