New LUNA vs. Classic LUNA

[vanesha]

I think they were lucky who were able to buy the old LUNA at a very cheap price of $0.0xxxx they got back the new LUNA for free. Unfortunately when compared to these two LUNA it looks like they look the same, they will have the same potential loss as we are currently experiencing, I don't think it's bad, but the fact is that their team didn't immediately fix the gap you made so many people lost with LUNA classic.

[ethereumhunter]

I don't have any info about it but I just heard the news. Maybe this will give traders positive sentiment, especially those who are still waiting for Luna to bounce back. But it's all still a mystery and no one knows what will happen next. For the time being, it looks like investors are turning to other, more promising coins and there may still be investors who are still waiting for further news from the dev and team.

[whiteblue]

I don't have any info about it but I just heard the news. Maybe this will give traders positive sentiment, especially those who are still waiting for Luna to bounce back. But it's all still a mystery and no one knows what will happen next. For the time being, it looks like investors are turning to other, more promising coins and there may still be investors who are still waiting for further news from the dev and team.

Whatever happens about luna's future is still a mystery but for the fact that the team is determined to fork Luna V2, it means they are ignoring the advice of Vitalik and CZ, his big community as well. So I am very disappointed with their decision because minting new coins is a new step from another failure.

[GreatArkansas]

In my own honest opinion, I will not trust LUNA again for sure.
They were not able to fix the problem at the beginning that's why they create a new one, a forked one. This tragedy is one of the most disastrous in the cryptocurrency world, losing billions and the lives of some people.
This new LUNA could be another way to steal people's money. Be careful.

[lalabotax]

Does anyone have good info on the new proposed LUNA vs. classic LUNA?

Why should be the "old Luna and New Luna"?
Why shouldn't be only LUNA?
We know how to crash the price of LUNA in recent time so that making many people depressed of the crash market. that's exactly an extreme crash.
The developer is actually trying to recover and survive during this injury time. However, can they?
None knows, although this seems to be very difficult because of very bad news, dropped situation, and lost trust, the team is still trying.
But by creating the new LUNA? Well, let we see

[bitkanu]

They will launch new LUNA soon and they will send new LUNA those hold LUNA before UST de-pegged and those were purchased after the price down of UST and LUNA they will not get anything, they will launch new LUNA with 1 billion supply and I hope will give 1:1 ratio and price can expect more than $50 to $100 because 1 billion supply will be vesting, 25% for community pool,5% Developers, 35% bound and unbound LUNA,10% LUNA holders and 25% UST holders. 10% will be unlocked on the genesis and 90% goes to vesting 1 year,2 years, and 4 years. so wait for their announcement.

vesting for this case of reimbursing with the new forked luna sounds ridiculous honestly.
I see no reason the devs should be locking the new altcoin of anyone that acts like a reimbursement that have got scammed by the UST into oblivion at all.
after all we all know that the new luna and the classic luna are just two same thing with different name, I wonder how anyone that have holded LUNA and got scammed by the current LUNA crash gonna react if their supposed reimbursement got vested for years

[Johnyz]

In my own honest opinion, I will not trust LUNA again for sure.
They were not able to fix the problem at the beginning that's why they create a new one, a forked one. This tragedy is one of the most disastrous in the cryptocurrency world, losing billions and the lives of some people.
This new LUNA could be another way to steal people's money. Be careful.

I hate to admit but this could be right, LUNA is not solving any problem here and they are just trying to avoid it and look for creating another coin for the same purpose and it might failed again so better to be careful. Though I bought this for a small amount just to make sure I didn’t miss if the price recovers again but in reality, I didn’t expect that much. If the developer really cares about LUNA, then fork is not the best solution here.

[sunsilk]

What a contingency plan from Do Kwon. He should just have retained the old one and focused on it. This forking is just another assurance that him and his team could make more money and at the same time, everyone is going to rush just for the sake of dumping it.

So many parties are starting to fill lawsuit against him. This scammer is still thinking a way to rob more money from the market and investors. Majority of investors have been voting no for the new proposal but the voting fully manipulated. Scammer was changing it based on the token owned.

Yeah, one is the South Korean government. He had evaded his taxes and he owes a lot to the government. Now, they're going to file him a case and have him explain what has happened to his project and at the same time, there's a possibility that his properties are going to be seized.

There is no longer trust and confidence in the Terra foundation.

yeah and that's why the new token will have no value. People will not able to recover their lose other than dumping the new version of luna token to the ground

My take is that there will be a value but that won't stay for long and gradually that's going to have the same fate as the first Luna and UST. That's what's actually going to happen because he's just giving a band aid solution and not a long term plan.

[ethereumhunter]

I don't have any info about it but I just heard the news. Maybe this will give traders positive sentiment, especially those who are still waiting for Luna to bounce back. But it's all still a mystery and no one knows what will happen next. For the time being, it looks like investors are turning to other, more promising coins and there may still be investors who are still waiting for further news from the dev and team.

Whatever happens about luna's future is still a mystery but for the fact that the team is determined to fork Luna V2, it means they are ignoring the advice of Vitalik and CZ, his big community as well. So I am very disappointed with their decision because minting new coins is a new step from another failure.

We'll see what happens after that and I wonder what investors will do when they hear the news. Do they want to return to Luna or even look for other projects that can provide benefits for them after the loss at Luna. But to increase the price is not easy because the current market situation is also uncertain. Luna still needs more support from investors and people in her community to grow again.

[tbct_mt2]

They are trying to create a new game with LUNA and try to sink the current LUNA that will become LUNA Classic (LUNC) if the current vote says YES.

People can think two tokens will be similar to Ethereum and Ethereum Classic but the future of LUNA Classic is unclear. It won't die but how it will be developed if the core Terra team leave and move to LUNA (a new one). I think the community will figure out way to do it but it won't be easy and take many time.

[Bttzed03]

Is this official.

The voting suggests most (80%) are in favor of a fork.

~ i dont know if this gonna be work smooth but i do believe that terra team need lot of money right now to do all of this

It is actually the easier way out for them because it takes less funds compared to the other proposal (buy back and burn). I think they still have enough funds to revive the project through a hardfork but only time will tell if investors will trust the new terra chain.

[ololajulo]

If I were you guys I will stay away from this hopeless project that is already doomed because of their nonsense development that has nothing to do with their roadmap. Sudden adjustment like this won't work and always there some people who suffer from this failure. They better not tolerate such acts because they just giving their investors some false hope which doesn't really make sense when they failed this new proposal once again.

To make any decision with a crashed project you consider the team's attitude to the crash and the response of the whales to keep holding. Whales have all moved and the developers name is getting worse in the media. Forget all the fundamentals to get it back, the chances are small like you said. selling off 80k bitcoin has a strong effect on the whole market.

[Sayeds56]

Cz said this won't do and help. And this new token means that new money will have to come in for those victims of the crash.

What a contingency plan from Do Kwon. He should just have retained the old one and focused on it. This forking is just another assurance that him and his team could make more money and at the same time, everyone is going to rush just for the sake of dumping it.

There is no longer trust and confidence in the Terra foundation.

I fully agree with what CZ said, the best solution would have been to continue with old Luna and put in place some kind of burning mechanism to reduce huge supply of Luna which is more than 6.5 Trillion now. Luna still has huge community all over the world which is its major strength if they handle current crisis prudently they can still come out of current crisis of confidence.

[d3nz]

People can think two tokens will be similar to Ethereum and Ethereum Classic but the future of LUNA Classic is unclear. It won't die but how it will be developed if the core Terra team leave and move to LUNA (a new one). I think the community will figure out way to do it but it won't be easy and take many time.

That's the question, and what will happen to Luna classic if still has a purpose or is just a token for pump and dump trade. They might have a plan for Luna classic in the future but since they are focusing on the new version and also gaining the trust of investors since a lot of people have been affected a lost their life savings.

And, since the portion of the token distribution will not benefit the people after the attack and we don't what will gonna happen to the value of the Luna classic after they have released the new fork.

[hugeblack]

It would be better for them to put their money in a new project instead of such behavior, easy solutions will not build a good project and claim that the reason for failure is the stability algorithm is just burying heads in the sand.

According to proposal/1623 ---> https://station.terra.money/proposal/1623 they still have Total voted 153,855,456 (40.84%) with No with veto 19.65%

Based on the amount of money that was printed, new users have the right to vote and their voting power is much higher than the power of the old users due to the random printing that occurred.

If this is true then such a vote will not be approved, or am I missing something?

[zasad@]

It would be better for them to put their money in a new project instead of such behavior, easy solutions will not build a good project and claim that the reason for failure is the stability algorithm is just burying heads in the sand.

According to proposal/1623 ---> https://station.terra.money/proposal/1623 they still have Total voted 153,855,456 (40.84%) with No with veto 19.65%

Based on the amount of money that was printed, new users have the right to vote and their voting power is much higher than the power of the old users due to the random printing that occurred.

If this is true then such a vote will not be approved, or am I missing something?

This is a vote for validators and each of them has their own percentage of the vote. Users have already expressed their opinion, but no one takes into account their opinion. Another 6 days to wait for the results of the vote. Possibly the proposal will be blocked.

[bittick]

I think they were lucky who were able to buy the old LUNA at a very cheap price of $0.0xxxx they got back the new LUNA for free.

For free? i think it's not. There must be the differences between the conversion rate between those who bough before and after the attack. This must become the main concern or the late buyers will always also dump their new token to the market but again this is the worst solution to be implemented.

Unfortunately when compared to these two LUNA it looks like they look the same, they will have the same potential loss as we are currently experiencing, I don't think it's bad, but the fact is that their team didn't immediately fix the gap you made so many people lost with LUNA classic.

There's no guarantee if the price of new luna will be as good as the old one. The main thing is if people must remember when they were buying luna is the same like they are gambling with it, The answer is win or lose

[tbct_mt2]

It would be better for them to put their money in a new project instead of such behavior, easy solutions will not build a good project and claim that the reason for failure is the stability algorithm is just burying heads in the sand.

According to proposal/1623 ---> https://station.terra.money/proposal/1623 they still have Total voted 153,855,456 (40.84%) with No with veto 19.65%

Based on the amount of money that was printed, new users have the right to vote and their voting power is much higher than the power of the old users due to the random printing that occurred.

If this is true then such a vote will not be approved, or am I missing something?

Maybe new investors during and after the crash don't know how to join the vote. They simply bought, stucked and hold $LUNA on exchanges. About the vote on the proposal, they are only keep watching.

I see the votes on No with veto is high enough about 20% that shows how disappointed voters are against the fork. However it is not enough to stop the fork if others don't vote No.

That's the question, and what will happen to Luna classic if still has a purpose or is just a token for pump and dump trade. They might have a plan for Luna classic in the future but since they are focusing on the new version and also gaining the trust of investors since a lot of people have been affected a lost their life savings.

And, since the portion of the token distribution will not benefit the people after the attack and we don't what will gonna happen to the value of the Luna classic after they have released the new fork.

Other blockchains try to send invitation to projects that are running on Terra to switch to their chains and ecosystem. They take advantage of the Terra crash and quickly attract projects, developers to their ecosystem. From Polygon to Binance Smart Chain, they are doing it.

The future of Luna Classic if it occurs after the fork, will be unclear for now at least. I don't think it will die but unclear who will take over it and how it will keep going with lively developments.

[rugrats]

Is this official. Its like Ethereum vs Ethereum classic hard fork i dont know if this gonna be work smooth but i do believe that terra team need lot of money right now to do all of this

It's official and the proposal already published by luna developers since last a few days ago. I don't know but majority of holders are not having good impressions with the proposal. The luna developers team were doing shady things by creating the fork token and they are leaving from their responsibility to fix the problem in the old luna. Majority of people in the agora didn't even agree with the proposal that already published. I have been seeing that even the result of vote already removed as some people accused do kwon was doing another shady thing to the community. This problem will never be fixed

Exactly, Kwon and his team are trying to waive their responsibilities to Luna, creating a new luna is not approved by many people but it seems that Do Kwon created a fake poll to convince his idea of creating a new Luna. It's all over there are still a lot of investment-worthy projects out there, we should stop thinking and hope this ponzi project will work again.

[justdimin]

The only reason the old Luna was worth anything was the algorithmic relationship between it and UST which people *thought*, wrongly, was a valid stable coin. There were 7 billion or so imaginary dollars that people thought was tied in some way to LUNA. Once those dollars were exposed to be a sham, and UST worthless, all the value in LUNA was destroyed. It doesn't come back simply by creating a new shit coin that is a copy of the old block chain. No sir. No way. That value is gone. Only way it comes back would be if the original team manages to come up with enough cash to make everyone whole, and backs the new coin with that. I don't seen that happening. They have maybe, being generous, a couple cents on the dollar v/ where UST was capitalized. I dare say the whole thing was little more than a scam.

Well they weren't wrong at that time, sure it was connected to each other and that 7 billion wasn't wrong neither. The problem is not that it was a fake one, it was a true one and there wasn't anything fake there.

However, that connection was severed by whales who found a way to crash it, and make money while doing that. Which caused a ton of people which ended up causing the prices to go down and when it went down that became a bit of a problem for the whole market, not just Luna. Sure Luna and UST crashed and doing horrible, but at the same time we are talking about something that is impacting the whole crypto world as well and that is a bit of a shame.