Then wait and spread out buys. $100 could get you millions at one point
So people buy an asset fairly on an open market, and now you’re forcing them to donate and burn it? There’s a word for that: theft. You can justify it however you want, however in most jurisdiction it’s illegal to do that.
I infer this means that for token holders,current holdings of LUNA would get divided by approx 7 000 (to reduce supply from approx 7 trillion to 1 billion)?
Why not raise funds+use existing reserves+borrow loan to buy back the LUNA tokens from the community at 0.5 USD flat and burn them till the circulating supply stabilizes?
Am sure you have reserves, appears as though the company is trying to save these for own benefits.
Dude you don’t get me, I don’t even have 1$.
Don’t think everyone same as you.
You probably have a lot of money that’s why you think 100$ is not a lot.
You live in first world country where you could easily make 100$ in a day but not everyone as lucky as you. I live in a third world country where someone probably makes 100$ a month!!!
The best and fairest proposal so far.
You can’t start buying up the Luna in order to burn it!!! All those who write that we should start buying up are speculators. You have to understand that there are people who bought the moon over $1 and there are speculators who bought at 0.00000001. And when the Luna will start to be bought, all speculators who hold the moon at 0.00000001 will be able to sell it at 0.000001, which will give them a profit of 0000k, and those who bought the moon over $ 1 will not be able to hold positions in their portfolio.
Only new Luna V2 , And the distribution to all holders of the Luna, at the cost of how much people have invested, who bought the moon at $ 1 on 10000 and someone bought at $ 1 - 100000 Luna.
If you do not have 1$ you should not be investing in crypto
From Binance CEO
“…Minting, forking, don’t create value. Buying back, burning does, but requires funds. Funds that the project team may not have.
I would like to see more transparency from them. Much more! Including specific on-chain transactions (txids) of all the funds. Relying on 3rd party analysis is not sufficient or accurate. This is the first thing that should have happened…”
totally agree with this. Mr. Kwon you are gambling with our monies.
Are anchor protocol still safe? Shall we take out the money from there?
If LUNA should not have been traded on the free and open market at 0.000001, then trading should have been frozen. It wasn’t. So anyone that bought at this price is just as entitled to that LUNA as someone who paid $80.
The algorithm which has minted LUNA exponentially due to selling pressure on UST, can also be used to burn minted LUNA exponentially again.
if community decide to create a buying pressure on UST, algorithm will burn LUNA exponentially again. As the UST will reach near 1$, LUNA will also rise. you can use community pool to regain dollar peg of UST.
its obvious LUNA will not reach its ATH in near future, but losses of community can be 1/4th instead of 1/100000th at present.
and even if you did buy at $80 you could still buy at 0.000001 no one stopped you
I am not investing anymore!
Have you read me right when it collapsed I had no other way I loaned and managed to put my average down to 0.54!!
IF it did not happen I would not have been in debt!
And you are asking me to buy now when I already bought already!!
The company needs to take ownership and burn the excess supply printed(buy back and burn),thats the only way to stabilise the coin. Once supply reduces, price will rise.
Ofcourse it needs funds, and the company should use its reserves/borrow.
Look, it sucks. I feel you. But we’ve all experienced this. I personally was homeless for 2 years after the 2017 crash. I get it - we all need the money, and sometimes in gambling we lose. But that’s the risk we all take in our attempt to make it. Exceptions cannot be made for anyone because ALL of us have a sad story. LUNA was a speculative asset, simple as that.
I dont think you ever should have invested in crypto, your finances sound much too tight. Focus on a rainy day fund before investing in crypto
I am just wondering why you guys think a personality like Kwon is reading anything here.
Just check the reading time in his profile. Seems legit.
After all that has happened and is happening right now, he and other “important” people from this project should be online all day on all platforms and provide some Info or just a simple and constructive discussion.
False pride just killed this project. Maybe on purpose.
I guess there are or were many people that tried to help.
After all we are just sitting here and talking to ourselves in this forum and no one project related is responding at all.
Just for being invested in a “stable coin” to prevent losses and a Luna project that was far away from dropping 99,99%. I also lost the majority of my money and it will be hard to recover from that but I can’t change it right now.
For me this seems impossible to recover or rebuild. Communication and transparency were just beyond bad. The last days in silence were too strong.
Sorry to say this but Kwon should really think about to quit Crypto. He will never be safe nor trusted or respected anymore.
Just makes me angry how often he wrote shit and offending stuff on twitter or anything he said in interviews and now when his big ego could’ve done any good actions, he is just hiding all day “on the phone”. This is just wow.
Imagine a Top 10 company on the stock market would act like that.
Anyway, good luck to everyone for the future.
This must be your first crypto currency investment? Nobody in their right mind would do this. Especially on something volatile like crypto
Yes I know. Thanks
Learn from your mistakes brother. We all learn one way or another. You won’t make this mistake again.