LUNA confirmed dead, all BTC gone

I thought its bouncing back?

Who is in control of these funds now ? If it is just one person, this is plain fraud and he should be investigated.

onlinemarketer12 said:

Who is in control of these funds now ? If it is just one person, this is plain fraud and he should be investigated.

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It's weird. Last I knew nobody knows where the BTC went. Dunno if that's been explained already but I saw quite a few people complaining.

bingeme said:

I thought its bouncing back?

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I don't think so. Their self-balancing system is broken. If it bounces back, it'll simply get dumped again like before. Unless they change something.

Their latest proposal is to fork LUNA into LUNAC and then airdrop tokens there. Who knows whether it'll work but the LUNA investors are clinging on to any hope.

bartosimpsonio said:

Also, because of this shit, heavy regulation is likely coming to the space. That's why we can't have nice things.

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Maybe I'm an outlier, maybe I'm a bit crazy, but I think regulation in the space is needed. There are entirely way too many shitcoins ripping folks the fuck off. So much shadiness. The scene brought it upon itself through excessive greed. Ffs folks, avoid these kind of coins! I hate coming here and reading how y'all lost money on them.

Speaking of losses, get a load of this absolute fucking WSB-level of retardation:



$3,000,000 -> $1,600,000,000 -> $3,400 diamond-handed it right into the goddamn dirt

GiraffeBurgersAndFries said:

Maybe I'm an outlier, maybe I'm a bit crazy, but I think regulation in the space is needed. There are entirely way too many shitcoins ripping folks the fuck off. So much shadiness. The scene brought it upon itself through excessive greed. Ffs folks, avoid these kind of coins! I hate coming here and reading how y'all lost money on them.

Speaking of losses, get a load of this absolute fucking WSB-level of retardation:

View attachment 211071

$3,000,000 -> $1,600,000,000 -> $3,400 diamond-handed it right into the goddamn dirt

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I would fire his dumb arse, what a flippin idiot!

Sad to hear

krishnaverma said:

Eth also?

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ETH had a 70% premine
Eth has no verifiable supply
Eth is centralized and will be more centralized if they change to PoS
Eth txn fees are over $20

ALL alts are either centralized & weak, money grab, or scam.

It sold all btc , no support over , It dead a days ago mate !

people screw up on good stuff!

GregoryY123 said:

Terra is an open-source blockchain protocol that underpins algorithmic stablecoins and a network of financial applications.

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oh so that's why many of the investor believed in it. Because OPEN SOURCE= Transparency . The problem is the economy of LUNA suddenly collapse.

Let's hope that this is an outlier.

But my gut instinct tells me, given the drama that USDT recently went through, this may not be an isolated incident.

This is actually a very scary situation for everyone involved in crypto because regulation is going to come even sooner.

Thanks to this disaster.

The worst part is the government is going to be looking at regulating the weak, soft underbelly of crypto.

I am, of course, talking about stablecoins.

There's going to be a tremendous amount of pressure on previously stable entities like USDT to prove their fiat backing.

Unlike Algo coins like UST, normal stablecoins like USDT are supposed to have a one-to-one peg to the US dollar.

But you and I know that it's really just a matter of the people behind the USDT saying, "Trust us."

There's really no way to find out if there is such an actual hard currency backing for the peg.

This is going to be very interesting because if a lot of the scrutiny is focused in that direction, then this calls into question all of crypto.

As you probably already know, you can't trade Bitcoin directly for US dollars.

There is an intermediary that is necessary called stablecoins.

Because these coins are supposed to have some sort of backing with real-world fiat, then people are more likely to trade dollars for them.

Take that away or regulate that in the whole crypto game changes.

It's very hard to get rich quick these days.

bartosimpsonio said:

Believe it or not, fiat wasn't always that much regulated. Things went downhill after 9/11.

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Post 9-11 collapse was just used to consolidate power, thinking that they can continue to cover up the Fiat losses due to the $ becoming a power reserve currency and Nixon era decisions. It was the Fed buying the dip using a pen gun . Feel bad about 2018, that's OK, here's some money... it's free for us... we're the reserve.

We go to work everyday hoping for an airdrop of shitcoin paper without an abundance of choice. I don't have much hope for anything "pegged" to it. I don't invest in human trafficking! Sooner or later it will face a revolt... after many lies and rouses to "keep things rollin'", and it will come to ruin (at best).

Think about it like a chain around your legs on a ship out in rough seas. You are told that it will keep you from going overboard and drowning... then you hit a rock... now do you wish for classic "stability" or freedom? And the rock you hit is only the tip of the iceberg accumulated from over 2000 years (at least) of known fiscal stupidity.

Still investors will not learn. When some similar risky game appears, they will bet on it and keep loosing money to whales.