Luna CEO Taking Lone walk To Luna 2.0

[Wiwo]

The LUNAtic community have been thrown into distress in the late hours of Monday when the CEO of the stable coin DO KWONthat faced the biggest attack in cryptocurrency history in the last week when Luna market price crashed below the trench hold resulting in heavy losses to the stable coin holders, the community hope was beginning to see some light when some top cryptocurrency investors and experts e.g CZ CEO binance and the rest made suggestion of a burn and by a back mechanism in other for luna to make a bounce back. But the LUNA community was disappointed this evening when the CEO announced that the coin will change the chain and forking of the coin many see this as a waste of developers' funds and also minting new coin that will result in a loss of the value of Luna.

Luna 2.0 version will this succeed or it will further destroy the stable coin value I do not think what the CEO (DO KWON) is prescribing will give a lasting solution to the LUNA network.
Source:
https://cryptonews.net/6644139/?utm_source=CryptoNews&utm_medium=app&utm_campaign

[Ojima-ojo]

Such a big move by the coun owner to do I different direction from the suggestions of the public for the sake of sanity let the project do whatever it can get back investors who lost so much already.

[24Kt]

Such a big move by the coun owner to do I different direction from the suggestions of the public for the sake of sanity let the project do whatever it can get back investors who lost so much already.

I have doubts on the sincerity of their CEO. Maybe, as of now, he is just saying this revival plan just to save face. But can he really gain the trust again from his holders and investors? Okay, let us give him the benefit of the doubt. But as early as now, if you want to stake your funds on them, better buy bitcoin instead of their forked Luna 2.0. And without his team, I don't think he can carry the burden of his targets here.

[lionheart78]

As CZ stated, the forking of the Terra Luna isn't the right answer for the existing problem.  It will only deepen the hate of the people and think of the move as another money grab.  I wouldn't buy and stay away from this new fork.  This shows how very dull Kwon is towards Luna's investors and supporters.

[rahmad2nd]

Bad news if try upgrade Luna coin on new version as V2 because have bad impact with Kuna old coin holder. I think never waste your time with Luna coin and better leaving dev of this coin because he most scammer developer, How come with coin have good reputation drop drastically and become shit coin? Did you still believing with dev have make many investor losing their money?

[keyscore44]

I don't know what Do Kwon intentions are, and even if he wants to fix his mistakes, I will definitely avoid all his projects. I am convinced that a large majority of investors will do this same.
If he wanted to fix the errors that were in the LUNA algorithm, he should do it much earlier.
Unfortunately, but after such a huge catastrophe associated with a whole series of mistakes he made, he will never be able to regain confidence in the cryptocurrency market. In my opinion, he should just change the industry.

[TastyChillySauce00]

Yeah and this is the first proposal that already proposed in the agora forum by him. The problem is if LFG has no money left on their wallets. It's so hard to see that if LFG has been dumping 80k bitcoin for nothing right now. That's only still 313 bitcoin remaining on LFG wallet. This company is so stupid. They are only burning their money for nothing. So the new only choice to create the new token and then spread it to old of wallets that hodl UST and luna. So far only small amounts of money remaining on the LFG to be distributed again.

[Bitcoin_Arena]

This is why the old crypto projects like Bitcoin will always rule. The stupid LUNA CEO doesn't even want to know what the community thinks about forking the coin. What is the point of "decentralization" then if the decisions are going to be made only by the money grabbing CEO.

Only clueless fools would trust his new LUNA 2.0 let alone continue to follow the LUNA 1.0

[makishart]

So many people already disagreed with the proposal that already introduced by do kwon to forking the terra luna blockchain. I know that this is the only choice as terra foundation has no money to buy back and burn the tokens from the market. It's also very stupid decision. People will not believe with this blockchain again and im sure that others may be agreed with me about this. I strongly disagreed with this proposal even when whole of holders got pro rata airdrop from fork of luna

[LouVandetta]

This coin is full of drama. Lots of ppl are againts the proposal. And the team itself tried if not their best to save ust and also luna, maybe, but still not showing any light of day.
I can't wait to see where this is all going, will it be going in a good direction or the opposite. Not forgetting that Luna and ust already lost its trust from its communities.

[JeffBrad12]

This proposal is still having a lot of questions whether the fork token will have the same value like the old token or not. So many fork tokens are worth nothing right now and i think this is enough to be a proof to make sure this proposal is not so effective to recover the lose. The investors are not only the one who have been loosing a lot but the company as well. Im feeling doubt if a miracle can come to this company. It's sad but people must accept their lose and they will never see their money again in the future

[crwth]

I'm sad that I had just read this when I bought Luna off someone in the exchange. It just lost another 27% of its value, and I think the CEO is not planning to make amends by making the initial holders of the coin return their investments. They are just going to be moved and replaced by another currency. Lol. I hope they make it to a point where they will return or somehow incentivize those who have lost a lot.

[Ojima-ojo]

I'm sad that I had just read this when I bought Luna off someone in the exchange. It just lost another 27% of its value, and I think the CEO is not planning to make amends by making the initial holders of the coin return their investments. They are just going to be moved and replaced by another currency. Lol. I hope they make it to a point where they will return or somehow incentivize those who have lost a lot.

Same with me I hold some luna in my wallet and since I read this thread some hours ago I have not been myself, the owner is not taking the right step to amend things and this could worsen the situation investor will be in a big loss.

[VanityWallets2015]

It is nice that even if in the crash of the Luna the CEO are still trying his ways or doing his best to revive or at least survive the price of the Luna, I am not sure if it is too late now as many investors really are lost in investment because of the 99% crash in a week.

[alisonwonder]

It is nice that even if in the crash of the Luna the CEO are still trying his ways or doing his best to revive or at least survive the price of the Luna, I am not sure if it is too late now as many investors really are lost in investment because of the 99% crash in a week.

That there is always a solution even though it's late in my opinion, but we'll see the highest recovery if they manage to do it, lately I've been actively monitoring Luna progress because they have support from CZ and recently Valitalik also provided a solution for Luna.

[arifteguhr]

I'm sad that I had just read this when I bought Luna off someone in the exchange. It just lost another 27% of its value, and I think the CEO is not planning to make amends by making the initial holders of the coin return their investments. They are just going to be moved and replaced by another currency. Lol. I hope they make it to a point where they will return or somehow incentivize those who have lost a lot.

It's very difficult to make up for what people expect, that it will be difficult to develop a new coin even if it has the support of the community but it won't do much for the old luna coin holders, but it will be profitable for new traders who just bought Luna at the lowest price.

[m_nief]

Bad solution when his coin drop or almost become scam give update for launching with Luna 2.0, look he not care about what happen with old Luna coin and never trying how to recovery and make old Luna coin back to ATH again. He only care with how try get much profit and actually when launching Luna 2.0 have ideas maybe with making pre sale again. He has take profit first with old Luna coin with added supply and sell trough price keep going dump. Maybe he need investigating what happen with Luna coin and need some one report him to police about scammer cryptocurrency.

[sulis sudibyo]

I see there are still many who do not agree with this proposal. because if this proposal is approved it means luna Founder(do kwon) will be free from responsibility. he only needs to pay compensation to the ust holder and the matter seems to have been resolved. they don't seem to care about Luna's holders, because if new coins are released they will definitely focus on new coins and will leave luna old.

[TastyChillySauce00]

Many people against the fork idea in the telegram group. It seems those who have been loosing their money will never get it back again. The snapshot will actually based on the currenct circulation and i just curious about how many tokens that will be getting by those who bought luna at peak price.
I meant some holders were only having 2 or even 10 luna in their wallet and they have bought these coins when the price was around 100 bucks. Those people will get nothing from this hardfork.
How can those people accept the reality if they have lost all of their money in a week?

[kidbounty]

poor solution to a problem of this magnitude. do kwon and the entire luna development team should be able to come up with a better solution than this. releasing new coins, is not a good solution. even cz said that new coins will not help in the end the same problem will repeat in the future. I'm also sure when this proposal is passed, and new coins have been distributed. no one will want to hold it.