Luna holders will get new token.

[tooken2]

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

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.

[lixer]

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.

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.

[Rigon]

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.

[fzkto]

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.

[spiker777]

 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.

[WalkerIVIV]

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.

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.

[Jasad]

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.

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.

[NewRanger]

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.

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.

[Kelvinid]

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.

[panduryk]

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

[raidarksword]

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.

[UserU]

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

[taguig]

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?

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.

[GatotKaca]

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.

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.

[Innerpumper]

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.

[TopT3ns]

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.

[hashrateproducts]

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.

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.

[mindrust]

The community is deciding on a new @terra_money between restoring a snapshot prior to attack, removing TFL, fully collateralizing UST and drafting & deliberating new mechanisms for $LUNA.

We must salvage the remaining value in the ecosystem & community and rebuild the right way

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.

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.

[aryana42]

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?

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.

[BlackBaron]

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.

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.