LUNC 1.2% burn per transaction = is this true or lies?

[thegoatiest]

It sounds like a good idea. Lord knows Lunc needs burning  

Apparently it's currently burning on a testnet due to go live next month.
Is this true? Or is it just shillers shilling... or trolls trolling?

Also very importantly - are the coins traded on CEX included in the 1.2% burn? if not then this is just going to flop.

Could you provide a trustworthy source please?

Cheers,
TG

[ryzaadit]

Here you can find some resource : https://thecryptobasic.com/2022/06/09/new-terra-luna-classic-lunc-burning-proposal-receives-80-votes-in-favor-will-it-be-implemented/

The community make a proposal for this mechanism burn/transaction, based on the news from my link. More than 85% agree for this proposal, they also needed exchange to support all of these idea.

Maybe you can join their community or reddit.

[Tytanowy Janusz]

It sounds like a good idea.

It does not. People blame short term traders for price dump (it dumps because its shitcoin or crypto winter), for project failures (it fails because its shitcoin), for their own mistakes etc. In fact short term traders create volume and volatility, which brings market makers and arbitrage traders that create liquidity, which attracts bigger traders and bigger market makers, which attracts big investors that knows that asset is big enought and popular enought to enable them go in and out whenever they need to. not in and baghold forever becuase there is not enough demand to sell. All this increased trading traffic end up as price and project value goin up. Limit trading and you end up with shitcoin with high spreads, no liquidity and no investors.

And no serious CEX will support that.

[serjent05]

It is funny how LUNC devs make fool of its investors.  They increase the token creation per day and then stated that it was exploited, (though I have a doubt that they are the one who exploited that mechanism.)  Then the overinflation of LUNC makes them decide to fork and create Luna and rename the old chain LUNC.  Again they avoid responsibility and see fork as an escape.  They do swap some tokens but it is very minuscule to compensate for losses from investors.  Now they wanted to implement the burn system, another adjustment at a cost of investors' holdings.  LUNC developers never cease to amaze me with how they wanted to put all the sacrifices to investors.

[bussybuddy]

It is funny how LUNC devs make fool of its investors.  They increase the token creation per day and then stated that it was exploited, (though I have a doubt that they are the one who exploited that mechanism.)  Then the overinflation of LUNC makes them decide to fork and create Luna and rename the old chain LUNC.  Again they avoid responsibility and see fork as an escape.  They do swap some tokens but it is very minuscule to compensate for losses from investors.  Now they wanted to implement the burn system, another adjustment at a cost of investors' holdings.  LUNC developers never cease to amaze me with how they wanted to put all the sacrifices to investors.

Yeah, that's funny to LUNC. I can't believe such a public lie still has the support of those who believe in its recovery. After what happened, I personally put it on my list of dangers not to be concerned about in this market. The way they got it wrong and justified it, the people who suffered a lot after the catastrophic failure that the project created, one of the worst pieces of history in the crypto space that I have witnessed.

[Silberman]

It sounds like a good idea. Lord knows Lunc needs burning  

Apparently it's currently burning on a testnet due to go live next month.
Is this true? Or is it just shillers shilling... or trolls trolling?

Also very importantly - are the coins traded on CEX included in the 1.2% burn? if not then this is just going to flop.

Could you provide a trustworthy source please?

Cheers,
TG

It is a gimmick and nothing more, Luna is dying and they are just trying to delay the inevitable, do not fall for it, Luna is never going to go back to its previous levels of popularity because the first thing that people think when they think of Luna is that it is a shitcoin, without a high level of trust no coin will ever get far and Luna does not have the trust of the community anymore, now you may make some money if you trade the coin, but you need to be incredibly careful and sell all your coins as soon as there is any indication that a new crash is coming

[X-ray]

Now they wanted to implement the burn system, another adjustment at a cost of investors' holdings.  LUNC developers never cease to amaze me with how they wanted to put all the sacrifices to investors.

Agreed, the inflation problem is the problem that must be solved by them without sacrificing the investors. If the burn mechanism will be implemented and investors will become the party who already sacrificed by the developers. The luna developers are so shady.
That's why regulators want to catch them all. There will be a big tax to the any transactions that will be done by the investors.
The team didn't even take their responsibility to solve this. They are keep taking alternative solution for that which sacrificed the investors.

[doomloop]

It sounds like a good idea. Lord knows Lunc needs burning  

Apparently it's currently burning on a testnet due to go live next month.
Is this true? Or is it just shillers shilling... or trolls trolling?

Also very importantly - are the coins traded on CEX included in the 1.2% burn? if not then this is just going to flop.

Why is lord involved on here? LoL. It's your problem already if you invest on a shady projects like this. Lord can't help you with but maybe yes if you pick those projects who are more deserving and are honest. It's still on a testnet but I think not all on testnet can come true so this might be a kind of shill as you said, in order to attract more buyers and then you know what can happen next.

I have expected that people already learned their lesson and won't repeat the same mistakes again but it seems I am wrong because until now there are still lots of them who hope's that this luna coin can recover and make them rich again but this time for real.

[Tytanowy Janusz]

It is funny how LUNC devs make fool of its investors.  They increase the token creation per day and then stated that it was exploited, (though I have a doubt that they are the one who exploited that mechanism.)  Then the overinflation of LUNC makes them decide to fork and create Luna and rename the old chain LUNC.  Again they avoid responsibility and see fork as an escape.  They do swap some tokens but it is very minuscule to compensate for losses from investors.  Now they wanted to implement the burn system, another adjustment at a cost of investors' holdings.  LUNC developers never cease to amaze me with how they wanted to put all the sacrifices to investors.

At first they thought that one coin created out of two coins (luna and UST) can create wealth out of nowhere. It didn;t work out so their solution was to add another token XD Yea sure devs. 3 tokens can create wealth out of nowhere especially if whole project is compromised and authorities already chase people responsible for this disaster - https://cryptobriefing.com/u-s-and-south-korean-officials-meet-to-discuss-terra-collapse/

They should just apologize and hide under the mantle of shame instead of lying that they are able to build this project back up and fooling even more investors.

[milewilda]

It is funny how LUNC devs make fool of its investors.  They increase the token creation per day and then stated that it was exploited, (though I have a doubt that they are the one who exploited that mechanism.)  Then the overinflation of LUNC makes them decide to fork and create Luna and rename the old chain LUNC.  Again they avoid responsibility and see fork as an escape.  They do swap some tokens but it is very minuscule to compensate for losses from investors.  Now they wanted to implement the burn system, another adjustment at a cost of investors' holdings.  LUNC developers never cease to amaze me with how they wanted to put all the sacrifices to investors.

At first they thought that one coin created out of two coins (luna and UST) can create wealth out of nowhere. It didn;t work out so their solution was to add another token XD Yea sure devs. 3 tokens can create wealth out of nowhere especially if whole project is compromised and authorities already chase people responsible for this disaster - https://cryptobriefing.com/u-s-and-south-korean-officials-meet-to-discuss-terra-collapse/

They should just apologize and hide under the mantle of shame instead of lying that they are able to build this project back up and fooling even more investors.

Its obvious but still people do really make themselves look a fool because they do still  dive in into these projects related to LUNA devs and still hoping that they could really make money or profits?
IF you are a gambler and risk taker then you would really be acting like this but not all does have this kind of plan but rather they are making themselves blind and lose on the second time around.
Why people cant really take up some learning on their past mistakes?  Whether that 1.2% burn per transaction is real or not but still this team cant really be trusted.
They had broke the trust and now they are trying to rebuilt and showing that it is worth the investment? Never again.

[serjent05]

Now they wanted to implement the burn system, another adjustment at a cost of investors' holdings.  LUNC developers never cease to amaze me with how they wanted to put all the sacrifices to investors.

Agreed, the inflation problem is the problem that must be solved by them without sacrificing the investors. If the burn mechanism will be implemented and investors will become the party who already sacrificed by the developers. The luna developers are so shady.

It was  very shady indeed especially when there is a rumor about the involvement of terra labs wallet in the UST crash.

That's why regulators want to catch them all.

I hope regulators can develop a terraball to catch them all 

There will be a big tax to the any transactions that will be done by the investors.
The team didn't even take their responsibility to solve this. They are keep taking alternative solution for that which sacrificed the investors.

I think not only tax but possibly fraud cases.


I also think that this token burning implementation is just another gimmick to play another psychological game with its investor.  The idea of less token, less supply, higher price << that is effective if there are still great support from investors.

[robattfield]

It sounds like a good idea. Lord knows Lunc needs burning  

Apparently it's currently burning on a testnet due to go live next month.
Is this true? Or is it just shillers shilling... or trolls trolling?

Also very importantly - are the coins traded on CEX included in the 1.2% burn? if not then this is just going to flop.

Could you provide a trustworthy source please?

Cheers,
TG

Overall, no matter how they make excuses, I see it as a scam. They create it and pour it into investors' heads and then fix it by burning, and in my opinion, staying away from Luna related things is a way for me or many others to not have any more trouble with the investment. with this market.

Before asking for comments from the community, they broke themselves and turned it into a pile of trash. Keep that in mind.

[o48o]

It sounds like a good idea. Lord knows Lunc needs burning  

Apparently it's currently burning on a testnet due to go live next month.
Is this true? Or is it just shillers shilling... or trolls trolling?

Also very importantly - are the coins traded on CEX included in the 1.2% burn? if not then this is just going to flop.

Could you provide a trustworthy source please?

Cheers,
TG

Artificially trying to add scarcity makes me think of even more scam. If that's even possible. Yeah, technically it should add value if people use it. But personally i woud develope actul use cases. Also game theory of their plan is on the wrong tracks, this is artificial and not sustainable solution.

[cryptoaddictchie]

Even though they created a good burning mechanism for lunc still the people remember what it did to massive community money and will not just regain it trust to the public easily. Do Kwon knew this and play along not to be crucify for his wrong doings, but what worse is those good projects under luna are affected even those with potentials.

[thegoatiest]

It sounds like a good idea. Lord knows Lunc needs burning  

Apparently it's currently burning on a testnet due to go live next month.
Is this true? Or is it just shillers shilling... or trolls trolling?

Also very importantly - are the coins traded on CEX included in the 1.2% burn? if not then this is just going to flop.

Why is lord involved on here? LoL. It's your problem already if you invest on a shady projects like this. Lord can't help you with but maybe yes if you pick those projects who are more deserving and are honest. It's still on a testnet but I think not all on testnet can come true so this might be a kind of shill as you said, in order to attract more buyers and then you know what can happen next.

I have expected that people already learned their lesson and won't repeat the same mistakes again but it seems I am wrong because until now there are still lots of them who hope's that this luna coin can recover and make them rich again but this time for real.

I'm an atheist. Lord is a turn of phrase. Stay on topic pal.
Yeah Kwon needs to go to jail for sure.
Why are so many of the comments here hostile? weird..

[serjent05]

Even though they created a good burning mechanism for lunc still the people remember what it did to massive community money and will not just regain it trust to the public easily. Do Kwon knew this and play along not to be crucify for his wrong doings, but what worse is those good projects under luna are affected even those with potentials.

Yeah, the Luna developer scandal won't be easily forgotten.  There are lots of people who lose their entire life money because of the bad decision made by the project developer.  Besides, the UST crash was rumored to be initiated by the Project company's wallet, so I think the authority must investigate this.

The burning mechanism is a big bull****.  If they didn't increase the daily creation of Terra Luna in the first place( now known as Terra Classic) it shouldn't have been exploited (who knows probably the hacker is within the team member) and there is no need for this burning mechanism.  Then they fork to new LUNA abandoning people who supported the LUNC to not get 0 value.  And now burning 1.2% per transaction, to decrease the LUNC token supply. How long will it take to get LUNC to million supply?

[crzy]

Even though they created a good burning mechanism for lunc still the people remember what it did to massive community money and will not just regain it trust to the public easily. Do Kwon knew this and play along not to be crucify for his wrong doings, but what worse is those good projects under luna are affected even those with potentials.

This can be a good burning mechanism but it can never back the trust of the investors, this is true there's a lot of good projects under that network are still affected and i hope they have the option to change their network just like the other projects did. This project is already dead, I don't know why we are still talking about LUNA, this burning update is not a good solution in the first place, well I might be wrong but their  history never lies.

[cryptoaddictchie]

Besides, the UST crash was rumored to be initiated by the Project company's wallet, so I think the authority must investigate this.

Not sure if speculation or proven, but if this is actually a scheme one then Do Kwon is really a con artist. If he manage to safekeep some and know that a certain crash would occur or connivance with the big firm whom liquidated them then this is one of the worse history on crypto events.

This project is already dead, I don't know why we are still talking about LUNA, this burning update is not a good solution in the first place, well I might be wrong but their  history never lies.

Hype mate. Obviously some are just hoping for a quick flip here thats why they bought lunc and risking it for a sudden surge based on news alone. No developer would wanted to work and continue a broken project.

[livingfree]

Do you have an idea how much supply LUNC has? Even if it burns a supply per transaction, it will still move that much because its volume is not even going up anymore.

The price that it has got is no longer moving up and that's why whether you're optimistic about this project, you should accept it earlier that this project is going nowhere.

You'll at least have that acceptance as early as you can before actually getting hurt with that hope of yours.

[peter0425]

Do you have an idea how much supply LUNC has? Even if it burns a supply per transaction, it will still move that much because its volume is not even going up anymore.

was wondering also how much burning they need before this comes to effect the value movement of this coin?

The price that it has got is no longer moving up and that's why whether you're optimistic about this project, you should accept it earlier that this project is going nowhere.

What i think here is that OP is holding  tons of this coin so he is eager to bump the project and at least gather some investors to add flavor for the coin?

You'll at least have that acceptance as early as you can before actually getting hurt with that hope of yours.

he adopted this As early as he is , so now he is looking for the upward in which not coming near .