Hi, how would this work for someone like me that is just sold some assets in to UST on Binance to exit with to pay my bills. Never part of the eco system and sold Eth 3 days previous to pay the bills for the next months. Would my wallet on binance qualify? Sorry for your losses, they make my 10k look like peanuts but those peanuts are over 15% of everything I had.
@NoMystakesEtAll what do you think about this proposal? I’m curious about your opinion. Its important to make this solution work.
We cannot rewind because any trades afterwards become unfair. The UST upon the time of acquisition is the only way to value UST.
not that $LUNA was supposed to lose in value … rather that $LUNA could fluctuate much more and was a speculative asset … this wasn’t the same philosophy behind $UST …
You invested to stable “coin” for 20% APY. This is a big risk but most of them say “Luna had a big risk and you knew that but UST is stable”. Shit! Then you could buy USD and invest Bank of America with 0 APY.
Who gives you 20% without zero risk lol
Same company and Luna dropped 0.000006 (ZERO) because of save fucking UST and Ust still 0.16 just dropped 84%. You re freak and greedy! Hope Ust drop to 0.000006 and we can be equal!
Fatman is like you. You are just thinking yourself. I lost a small Luna but really don’t care but saw your bloody comments and couldnt stop without write anything to you all!
I think the repayment should discount the amount we sold. Imagina if someone had 10K in UST and sold at 0.50c to stop his loss, taking home 5K. This person should get 5K in reimbursement.
I’m all in for something like that. I just want my money back, not the profits.
sorry but if i had 15m i would invest in research on algorithms to keep the peg, what did you need more money for? excuse the stupid question! but I think that money is not used to make other money, but it is used to do things
UST is stablecoin but backed by luna holders. Peoples buy luna to peg ust means ust needs luna. So you are holding luna in case knowing the risk if nobody buys luna there will be depegged. Do you understand me? People who bought luna helped pegging UST.
Thankyou for sharing your story, as terrible as it is.
There are nuggets of wisdom here that members of a shrinking community can learn from, I call upon others who may gain a tiny fragment of psychological relief by putting it down in words.
Stay strong Sir, remember the game is only over when you draw your last breath. Most of the greatest people in life suffer great adversity before coming through in the end.
I totally agree with you… UST holders are so greedy… They are not working together and they will never be successfull. I lost all my life saving while the economic crisis-hyper-inflation in Turkey for only tried to help UST PEG!!!
They say luna was risky and you bought knowing this risk… No I did not knew because DO KWON said everything will be fixed.
UST is also risky as Luna while there is no backed assets like the real stabil coins USDT, USDC… Only if people buy luna it can be pegged…
Everyone thinks for themselves. There is a crysis and if they have a plan for repay then all luna-ust holders should have same chance. Even scammer Do kwon’s saving plan is including especially ust holder.
Here are some of my thoughts -
Ultimately I think we should assume no compensation is coming to anyone. It’s harsh I know. But it’s possible.
All money that’s lost now will not be recovered. That’s the view I’m taking.
No party is more important that anyone else. Everyone is equal. I won’t place my needs or loses above anyone else. I’m a bold investor who often takes massive risks. The price for that is I get burned sometimes. It’s part of the game.
Cryptos are risky assets and there is always the chance something like this could happen - even if that chance was a black swan event.
For me this is a good headspace to start from.
Then if something comes to me it’ll be a bonus and I’ll be grateful for it. Having expectations on a certain percentage coming back is not the route I’ll take - I just think building that hope sets you up for a letdown.
I don’t expect anything back.
For now I’ll have to rebuild and make a comeback. I’m up for it. I won’t let this setback be any more than a bump in the road
I was able to buy 50,000,000 luna at 0.00000112 (the lowest and very last possible buy order on binance) - for $569.07 BUSD. It was $10 per 9 million luna (the cap!)
The price has since risen by 4000%
You do the math - If you were a supporter of luna prior to the attack - Why didn’t you DCA? I did? Many avid Luna supporters did - I’ve been in Crypto since 2017 and have a similar story to yours - We’ve been here before - If you believed in the project and that UST was “Stable” Why didn’t you DCA with a few hundred dollars at the bottom to hedge your bets and reduce your over-all average cost?
I did and quite a few other newbies in crypto joined me and we’re in a much safer position now because we did - because we didn’t lose faith in Luna.
You do the math - 50,000,000 Luna = 0.01 = $500k USD and so forth - This isn’t outside of the realm of possibility here - especially with a potential burn.
I’m sorry you lost your money, I really am - I have lost money in similar situations to you - but I would have suggested DCA’ing at least $500-1000 at zero.
You wouldn’t be sweating as bad as you are now - In your position, I likely would have bought double or even triple my holdings and by now, I would have already been looking at 60k-100k USD at current market value - for what? $500-1000 USD? What’s $500 when you already lost so much? If not “Insurance” at best.
Any announcement of a burn - or any positive market sentiment could easily produce a profitable result - as you would know being in crypto this long.
I always aim to prepare for every outcome - 9 times out of 10 - I’ve profited because of it.
I don’t feel like we, the avid supporters of LUNA that held the line all the way to zero should be penalized for not losing hope.
Use fork and trust=dust its like trying go past but everything its in blokchain we are here because of this idea not printing banking etc its same sh… then u get it ? or almost all of you only money mone y money this is why mostly you are here learn …make research …write your mistake somewere to remembered like next lesson and go further
You are ridiculous, disgusting and inhuman you are only looking at your own belly.
I bought 130k worth 2.70 average price, now you’re simply telling me to take it in the ass to save your fat belly.
sorry, you are very selfish, I lost all the money in my life, I owe 25k in the bank.
i m fucking bankrupt and and losing patience.
I agree with you that LUNA is a much riskier asset than UST. But I will have to disagree with you on the point “UST is the core of the ecosystem”. In fact, UST and LUNA both are the core of the ecosystem, they require each other to sustain each other. Without LUNA, UST would just be like an ordinary token in your crypto space.
How could you neglect the ones who have spent money and efforts to burn/mint LUNA in order to sustain UST’s peg all this time?
So, I do think simply neglecting the LUNA holders is the right approach. They should be compensated as well even if full compensation is not possible.
Why should there be compensation??? Its an investment and it come with risk. No point in preferring UST over Luna.
All they have to is wya to generate revenue. Not more ways on how to redistribute.
Now all they have to do is burn on a small 0.005% on every transaction. You hold to your UST, it will be back to 1$, in a 6months-1 year. Asking to compensate UST losses is the most absord thing.
UST is the reason for this fall and its burden. Where as LUNA is the asset.
Stablecoins are the main feature of the Terra protocol.
Luna is the variable counterpart to the stable asset Terra.
Quoted directly from the Terra documentation: About the Terra Protocol — Terra Docs documentation
So all your talk of Luna being the primary asset is actual nonsense.
UST and Luna had completely different risk profiles and for some “non-self-interested” reason you seem to want to ignore that. I wonder why?
A lot of us who want UST holders to be made whole as priority were/are both UST and Luna holders… I acrually stand to lose a lot more by Luna not recovering significantly compared to my UST.
So, there is more than self interest that drives many peoples support of helping UST holders first but not only.
Also on a personal note, I find it ironic that you lambast another user for lacking self awareness etc and yet your obnoxious attitude would fit the bill also for someone lacking self awareness.
One hell of a humble post from a whale. I am truly sorry to hear. I also was a UST Holder. I was saving for a down payment for a house for me and my fiance. It was in fact in Anchor as anchor was seen as a savings account backed 1:1. Many saw it as a safe play in the crypto space as the Terra Luna network was becoming such a huge piece of the overall crypto space.
I also had a good chunk of Luna as well and am willing to cut my losses there. I agree that UST Holders should be the ones compensated as it indeed was the core of the ecosystem. Restoring faith in UST along with somehow eventually restoring the peg is what is ultimately going to save the terra ecosystem. If we can somehow restore faith as well as the peg, terra can be reformulated. All of the products spawning on the network were and are truly brilliant… (Alice most recently has been absolutely wonderful).