Is Terra Classic scam?

[mulia sabee]

I think you should stay away from projects like this if you don't want to lose your money. maybe you think this is a scam project. It may not seem to have any growth potential or future revival prospects. Terra has become a part of the past, and for those who believe in it, Terra is a wound that will never heal by his sudden fall and leaves many people disappointed with the situation.

[JamesDaniel90]

I gambled on this when the price was 0.00009 , only £300.

I plan on taking out half my investment when it reaches 0.0005 and let the rest ride to see what happens.

It could go back down but it could also reach 0.001 so feel it is worth the gamble holding and see what happens.

It may be a scam but those who got in at these lower prices just see it as an opportunity and worth the risk.

[zaki12]

I gambled on this when the price was 0.00009 , only £300.

I plan on taking out half my investment when it reaches 0.0005 and let the rest ride to see what happens.

It could go back down but it could also reach 0.001 so feel it is worth the gamble holding and see what happens.

It may be a scam but those who got in at these lower prices just see it as an opportunity and worth the risk.

Luna Classic implements a new mechanism of burning 1.2% transaction tax. The application of this burn system has caused LUNC to rise continuously for the past week. Seeing these results, the Terra Classic community plans to start burning more LUNCs, but traders must remain cautious. Always monitor progress.

[JamesDaniel90]

I gambled on this when the price was 0.00009 , only £300.

I plan on taking out half my investment when it reaches 0.0005 and let the rest ride to see what happens.

It could go back down but it could also reach 0.001 so feel it is worth the gamble holding and see what happens.

It may be a scam but those who got in at these lower prices just see it as an opportunity and worth the risk.

Luna Classic implements a new mechanism of burning 1.2% transaction tax. The application of this burn system has caused LUNC to rise continuously for the past week. Seeing these results, the Terra Classic community plans to start burning more LUNCs, but traders must remain cautious. Always monitor progress.

Apparently next week could see the price rise again due to the 1.2% transaction tax.

I have set my price alerts and will keep an eye on it.

I do not believe it will hit $1 like some are saying but $0.01 is a possibility - it may take a while though.

[visionE2]

I gambled on this when the price was 0.00009 , only £300.

I plan on taking out half my investment when it reaches 0.0005 and let the rest ride to see what happens.

It could go back down but it could also reach 0.001 so feel it is worth the gamble holding and see what happens.

It may be a scam but those who got in at these lower prices just see it as an opportunity and worth the risk.

Luna Classic implements a new mechanism of burning 1.2% transaction tax. The application of this burn system has caused LUNC to rise continuously for the past week. Seeing these results, the Terra Classic community plans to start burning more LUNCs, but traders must remain cautious. Always monitor progress.

Apparently next week could see the price rise again due to the 1.2% transaction tax.

I have set my price alerts and will keep an eye on it.

I do not believe it will hit $1 like some are saying but $0.01 is a possibility - it may take a while though.

Nothing is impossible in the crypto world. It could go up to $1 in a few months. What more if all excenger returns lunc input. Yes definitely jumped again. At least $0.01 in a few months it could be or vice versa.
Wait for September 12, hopefully it will accrue and carry out a 1.2% burn tax on big excenger.

[Daltonik]

Yes, you just need to wait for this whole burning mechanism to work and see how it will be implemented, but while the price is still low, you can just log in for a small amount, Terra farm with its Lunf coin when it is deployed can also give a boost, but it will be according to their roadmap in Q1 2023 after the launch of farming on Bitmart.

[spiker777]

Anyway, over the past two weeks, LUNC has shown more than x4 growth, the trading volume reached $1.7 billion, this is also due to the burn protocol that started working and now burns 1.2% for each purchase/sale transaction until the offer reaches 10 billion, so the price will only grow as reducing the overall LUNC offer.

yes this burn protocol is really proved to be helpful so far. today LUNC price again pumped by 60% I know it is most likely a temperary pump and the price will drop again soon. but still I consider it a positive sign. at least this is a proof that Community and users did not abandoned LUNC yet. the devs might turn their back and launched another token. but community still loyal with LUNC.

[coinerer]

Anyway, over the past two weeks, LUNC has shown more than x4 growth, the trading volume reached $1.7 billion, this is also due to the burn protocol that started working and now burns 1.2% for each purchase/sale transaction until the offer reaches 10 billion, so the price will only grow as reducing the overall LUNC offer.

yes this burn protocol is really proved to be helpful so far. today LUNC price again pumped by 60% I know it is most likely a temperary pump and the price will drop again soon. but still I consider it a positive sign. at least this is a proof that Community and users did not abandoned LUNC yet. the devs might turn their back and launched another token. but community still loyal with LUNC.

Luna Classic prices have started to come down a bit. Luna Bunning News has caught the attention of investors. Its trading volume today was $3,474,173,009, the highest pump since the Lunar Crash. Soon the price of Luna will drop a bit. However, Luna Classic has attracted more attention from investors than Terra Luna. Hope team developers will definitely think about it. However, due to the Luna Crash allegations against them, South Korea is facing various legal challenges.

[albon]

Hello,
Is Terra Classic scam or does it have a chance of success?

Thank you.

It does not mean that a project failed that we accuse it of scam, it was a mistake made by the Terra Luna team that led to this disaster, they did not steal anyone's money, but frankly, I doubt the success of this currency again after what happened to the investors' money, as it destroyed their hopes and the compensation plan made by its team It doesn't do anything well, it's good that Terra Classic is making headlines in the crypto media and it seems unstoppable. You make take risks in it but with risk management.

[Rigon]

Hello,
Is Terra Classic scam or does it have a chance of success?


Thank you.

Terra Luna Scam Project. It can never be good. No matter how much you call this coin good it is never good.It has played the biggest role in destroying people's lives. I don't see a bright future for it.I don't see any future of this being a success.I always blame his teams for the destruction of this project or platform.The team could have taken the project in a better position if they had wanted to but their mistakes ruined the project.

[adzino]

It is not a scam. Just a useless token with no utility like it once had. Right now it is trending and trading only because of the community support. To be honest most of the people are trading and investing in altcoin with the hope of becoming rich real quick. They all believe that the price can reach $1 (being delusional)  or at least $0.001.

Right now I think they are going to implement some burn mechanism. People thinks that this burn mechanism will help the price reach $1, but that isn't going to happen anytime soon since most trading and transactions are being done in centralized exchange.

[coinerer]

Undoubtedly, everyone in this team was intelligent but they used it negatively due to which even a successful project is scammed today. As they cannot maintain their integrity, investing in their projects is risky. So no one should not invest in this project even there may be short term benefits.

[fzkto]

Almost the entire development team has left the project, the prospects for which are unclear. Do Kwon is hiding from justice in another country and trying to do some new LUNA 2.0 project. Meanwhile, in the absence of the former developers, someone is trying to pump up the old LUNA and UST. So there is clearly foul play to be seen here. Personally, it all reminds me of a scam.

[erep]

snip
Meanwhile, in the absence of the former developers, someone is trying to pump up the old LUNA and UST. So there is clearly foul play to be seen here. Personally, it all reminds me of a scam.

The price movement of the Luna classic has been planned by some groups to create a big news pump in the Luna community but it only benefits the largest holder of the Lunc coin, I have seen the video of the Lunc holder for an estimated $1 million and he has taken huge profits in this pump and sold the Lunc coin for estimated $5K every second on the exchange, I hope you should stop hype the lunc or luna coins because it is very risky to be dumped any time after they take profit.

[Abiky]

It is not a scam. Just a useless token with no utility like it once had. Right now it is trending and trading only because of the community support. To be honest most of the people are trading and investing in altcoin with the hope of becoming rich real quick. They all believe that the price can reach $1 (being delusional)  or at least $0.001.

Right now I think they are going to implement some burn mechanism. People thinks that this burn mechanism will help the price reach $1, but that isn't going to happen anytime soon since most trading and transactions are being done in centralized exchange.

It's not a scam as you've said. But I wouldn't recommend investing in it, because its reputation is already destroyed. Investors and traders simply don't trust LUNC after the TerraUSD stablecoin crashed all the way downhill. The team should've rebranded the project in order to help attract new investors into it. Instead, they've decided to make a new coin called "Terra 2.0" with nothing innovative other than eliminating the TerraUSD stablecoin for good. It's all a mess right now, so I'd suggest anyone to look elsewhere.

Investing into Terra Classic would be no different than investing into a "meme" coin like Dogecoin, Shiba Inu, or APECOIN. I wouldn't be surprised if LUNC fades away into oblivion as people move on to the next big thing in crypto. Just my thoughts

[Ben Barubal]

Hello,
Is Terra Classic scam or does it have a chance of success?


Thank you.

   Isn't this the Terra Luna before that is now Terra classic? now, regarding your question, if this is a scam token. My answer is a big NO. Why did I say? Have you checked the most exchanges here in cryptocurrency, the top 100 exchanges? because of all the exchanges listed there, most of their list includes Terra classic. This is where if it's a scam the exchanges probably won't include it.
 
   But there was a big scandal in the cryptocurrency industry and many were really affected. Perhaps the reason exchanges can't let it go is because of its large community that has been established in the crypto space. That in spite of everything, even if there was a big issue, many people still ventured to get a big income here.

[Daltonik]

It follows from the Bloomberg report that a court in Seoul issued an arrest warrant for Terraform Labs CEO Do Kwon and five other people with him on charges of violating South Korean capital markets legislation, Do Kwon is in Singapore. This will undoubtedly have consequences both for the platform as a whole and for individual users, although many have already lost everything, I hope that Do Kwon will be punished.

Source: https://www.bloomberg.com/news/articles/2022-09-14/south-korea-seeks-the-arrest-of-terraform-labs-founder-do-kwon?leadSource=uverify%20wall
Arhive:  https://archive.ph/eOjw9#selection-3753.0-3763.181

[SquirrelJulietGarden]

Until now Lunc is still available in many top exchanges such as binance, gate, cuoin, etc., another thing is a large daily transaction volume, even a few days ago the volume has reached $ 4 billion per day, maybe many people are worried because the terra owner is currently arrested but I'm sure they are supported by a solid team that will soon make Lunc Great Again.

Exchanges including top exchanges still support Terra Classic after the catastrophe because they know LUNC has huge community and huge trading volume. Exchanges don't want to be outliers which don't support LUNC and they don't want to create negative thinking in their users.

Financially, by listing LUNC, they will get more income from trading fee and as we know, not all exchanges support LUNC burning by using their trading fee to buy back and burn Terra Classic.
I don't think Terra Classic is scam but it is a serious failure from concept. The response of Do Kwon and Terra team after the de-peg is just terrible and stupid. It is not scam but a serious failure in deed.

[Abiky]

Exchanges including top exchanges still support Terra Classic after the catastrophe because they know LUNC has huge community and huge trading volume. Exchanges don't want to be outliers which don't support LUNC and they don't want to create negative thinking in their users.

Financially, by listing LUNC, they will get more income from trading fee and as we know, not all exchanges support LUNC burning by using their trading fee to buy back and burn Terra Classic.
I don't think Terra Classic is scam but it is a serious failure from concept. The response of Do Kwon and Terra team after the de-peg is just terrible and stupid. It is not scam but a serious failure in deed.

That's certainly true, mate. Exchanges list coins they believe would be very beneficial to them. Coins that are popular often generate big trading fees, even if some of them turn into a scam in the long run. While Terra Classic is not a scam, it turned into a failure because of the team's mismanagement of funds. If the Terra Foundation Guard (TFG) used its reserves appropriately, it would've saved the UST stablecoin and Terra's (LUNA) reputation. Instead, they've decided to create a new version of the Blockchain without focusing on burning coins from the original chain. These decisions caused an outrage within the community, effectively scaring away investors from the project (in addition to the rapid decline in both LUNC and USTC's price).

Now Terra's founder will go to jail, so I doubt Terra Classic will revive itself anytime soon. We should look for other alternatives which put investors' concerns above all else. Cardano, Polygon (MATIC), and BNB are your best bet to grow your investment in the long term. Crypto is extremely unpredictable, so I wouldn't be surprised if someday LUNC pumps massively in price at least within a short period of time. Just my opinion

[lvsca]

if the team is still held by the old team like Do Kwon and others I'm not sure the terra LUNA classic will run smoothly in the future. but recently LUNA classic went up high a few days later there was news about the arrest of CEO Do Kwon, but the price didn't drop. i think there will be a replacement team with LUNA classic it will be better.