Luna is reseting wtf

Yes

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The fabled double-rug.

This is the funniest thing to happen in crypto ever. I feel sorry for people that lost more than they could afford to lose, anyone in crypto since 2017 has done this on at least one project (PBUTT for me) but it' a valuable lesson - Diversify you speculative investments

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how would this play out? I mean I feel like people would just dump everything they got immediately

You deserve to lose money if you're tricked twice

Tiresome

why would anyone trust them after this? even if they did roll it back, everyone would just cash out and crash luna 2.0

Oh no fellow Any Forumstrannies this was a Reddit trick!!!

This "reset" will get scammed to
The scamlord known as "Do Kwon" is a pro scammer
This is not his first scam that he pulled off
see coindesk.com/tech/2022/05/11/usts-do-kwon-was-behind-earlier-failed-stablecoin-ex-terra-colleagues-say/
>UST’s Do Kwon Was Behind Earlier Failed Stablecoin, Ex-Terra Colleagues Say

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see

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Salvaging the “remaining value” lmao. There was no real value to begin with.
And pretending like this was some kind of attack was also bullshit, it can easily happen again, all that’s required is a deeply red btc day.

Luna niggers should have sold when Kwon started stacking Bitcoin as a "stability reserve."

>takesies backsies cus we did a fucky wucky
Remember when crypto was about ancap tier market ideological purity? Kek

kek these motherfuckers are trying to load save states.

WTF IS GOING ON HERE IS IT AT A DOLLAR ALREADY!?!?!

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You knwo what that whole LUNA scam reminds me of?

youtu.be/Ud-HMAWWPts?t=15

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losing your shirt on PREGNANT BUTT (WOOHHH OH OOOOOH) is a badge of honor imo

that is just a fanpage you moron

Imagine witnessing this fiasco and thinking
>Let's try that again but more

>I once lost more than I could afford to lose when I went all in on pregnant butt tokens
>everybody’s done this at least once
lmao this is fantastic bait

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>restoring a snapshot
what would be the point?
everybody would just sell instantly, it would be where it is now within few hours

Clown world demands it, there's plenty of Biden loving EU fans out there that need ripping off

IMO I've seen this with Ethereum during the DAO hack, a guy crashed ETH from $300 to like 4 cents

You know what Vitalik did? He stopped the chain, rolled it back to a "snapshot" before the hack, and just restarted it at that date before the hack.

LUNA will likely do the same before the peg fucking, give it a new chain, old holders get their money back and new traders who bought the dump will get rekt. Most likely scenario.

>fully collateralized UST

Gee who could've seen that coming lol

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looks like it was a hostile takeover

the guys who tanked it are going to put the dough back in

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but in this case there was no hack
the project is just pure shit

>gets his shit pushed in by a hacker
>wants to "salvage value"
Why should I trust this dumbfuck to get it right this time?

Based.

yeah still sucks though

Bought 10 mil luna tonight. Easiest money ever.

Being in the airdrop thread is moreso

lmao no it's not, that's the official Terra twitter.

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LMAO this was a scam all along
the offices don't exist
do kwon isn't even his real name
he probably got plastic surgery a year
well played honestly

people don't care as long as the product eventually works. there will always be profit-seeking behavior and new investors to replace the old ones who no longer trust it

If this happens you wouldn't gain anything from that.

>build back better
btc to 3k

"restoring a snapshot prior to attack"

So they will double spend to "save" their shitcoin?

lel

kek those 10 retards that roped will have died no no reason if they revert to a snapshot lmao

Sucks when you 'invest in the tech' Losing money on memecoins is a charity right off

Mfer thinks life is a video game, there's no "retry" or "load save" button to get those billions back lmao.

yeah bro because LUNA is mooning to $1000 after snapshot and definitely not instantly collapsing again

>the community is deciding

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Sorry user (((the community))) has decided. No refunds.

funnily enough he lost all his money with this luna drop as he was longing the shit out of it as a retard he is

THIS TIME...WILL BE DIFFERENT HAHAHAHAHAHAHA

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you know that btc's ultimate defense against sibyl is to fork right? also remember this fork in 2013? remember how they saved the chain? bitcoin.org/en/alert/2013-03-11-chain-fork

Just restore to the backup bro
All the money will be saved bro

people would dump and then people would buy low, like uniswap

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Luna's chain isnt failing, it only fell in price...

I already wrote my loss off on taxes no wtf am i meant to do kek.

I lost almost 100k on pbutt good times

Once it fell in price it became cheaper to mount governance board attacks so they had to freeze the whole thing. So yes, the chain completely failed.

Has anyone actually bothered to look into LUNA purchases? There’s a little more to it. Think if this was done specifically to create a perfect buy window before fixing everything and the price recovers to where it was originally.

>we know you just got rugged
>our solution is to rug you again
>hopefully you will still trust us not to rug you in the future

I literally cried with laughter at this post, thanks user, I needed it

what I don't understand is why I'm only hearing any of this NOW. nobody on the Luna TG or the subreddit even had the slightest clue about any of these so-called "red flags." Everyone I talked to was sure this was a sound investment, and now everyone is saying I should have done my research? how is reading all the official channels not enough research? I'm still buying them hoping for a recovery but starting to feel like an idiot

people always dismissed "fud" when everything is going well

>and the price recovers to where it was originally.
that will never happen due to the hyperinflation of LUNA.

when will they turn the luna subreddit back on i like reading the posts about people killing themselves

I fail to see how there is even the faintest possibility of Luna recovering without completely resetting this shit
UST maybe

AAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

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Nigga would be up if he bought the bottom 7 hours ago kek

being involved with a failed algostable isn't itself a red flag, unless we are to conclude that the source quoted in the article is also by default a scammer, since he too was involved in BAC. the early algos weren't scams, they were just shit

>w-we'll just roll back the chain and doublespend
This isn't funny. These fuckers are turning crypto into a joke. The damage they are causing to the entire space is unmeasurable. Not only will their shitcoin crash again, but they are also damaging the credibility of all crypto.

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Isn't there cross chain activity on LUNA? Are they also resetting those chains?
Why even bother with a blockchain at all if you can revert?

Do kwon was lynched. Not only the project is dead. The lunatic as well

>bitcoin and eth have never rolled back ever
lol

honestly we are kinda lucky this happened NOW instead of when Terra is worth several times more
it would probably killed the entire space

>crypto
>credibility
Uh huh

Based, blood for the buttgod
I impregnated my girlfriend after the rugpull in honour

what’s does this mean for those who have slurped “the dip”

As soon as they restore that snapshot there is going to be the mother of all selloffs, just repeating this same situation. Why the fuck would keep their money in a coin that needs hard resets to keep it stable? It goes against all the principles of crypto.
The shit is fucked. There is no way out.

You lost

its over

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My accountant's assistant called me and got all uppity because I had invested in pregnant butt. I hate women so much it's unreal

Those were pretty bad for credibility too.
But at least ETH was due to a hack and not something as retarded as this. And it was a long time ago, crypto was new(ish) and still suffering from teething pains.

This is literally a bunch of retards thinking >if we roll back we can get our money back and doublespend
It's child-tier wishful thinking.

>cucks sell
>new investors accumulate the bottom
just like any other airdrop

yes. Classic rug. he didn't say anything and used you retards to provide liquidity to absorb the ust debt

>they expect some of us in the wreckage, brother

Fucking lmao, so all the people who made money pulling their money out can make the same money again when they pull their money out?
This shit is fucking hilarious, even the banking system isn't this corrupt.

so then there’s still time to exit Luna ;)

Kinda cringe brother.

to be clear, I think a rollback is a bad idea. nothing is set in stone anyway, this guy mentioned a rollback as an option but not as the definitive plan. ultimately they need to get UST under control and then cut down the LUNA supply. how they achieve that is anyone's guess. the latter case is especially important because all of their original holders were diluted by the print, either they need to be somehow airdropped a proportionate share of the new supply or they are just permafucked even if they do get a bailout

How do you damage something that was never there?

even if they rollback, and make something new who would trust this apes? they are fucked and so are all investors of this pos

is it not possible to buy luna right now?

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What if I have a fuckload of Wrapped Luna if shenanigans ensue?

he wanted ro become a tranny anyway and cut his dick off

>hacker
No.

>before the attacker
What attacker, where is the on chain proof that there actually was an attack? This malicious attacker scenario is pure copium for the inevitable failure of luna.

Has anyone got the biz theory on BlackRock doing Jew scams with OTC trades to tank Luna?

>Prior to attack
So now its attack when your algorithm fails like they all do?

Coinmarketcap cant even track Luna's numbers this low, its just 0.

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How much of your life savings did you invest? Coinfess!

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How is this reset going to work when the supplies out there exist already?

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>Coinmarketcap cant even track Luna's numbers this low, its just 0.
Wrong. It tells you the value if you hover over it or zoom in.

Is the ecosystem functional right now btw? Can you use Luna, Astroport, Mirror etc?

>zoom to see the value
Not what you meant, but funny anyway

KEK

Lol, is it required to always end your sentence with an insult on this sub, you idiot?

Wait, this is genius. Sell all your Luna, it crashes again because everyone does the same thing, they have to reset to the same point again, sell all your Luna again because you have it back again. Rinse and repeat. Groundhog Rugpull.

Can someone explain like im literally 10 years old what happened

Sell? No no user. SHORT.

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> Chink makes crypto token ponzi scheme pegging one token to USD by algorithmically burning or minting the other.
> Retards of all kinds buy in on scam token.
> Someone points out flaws in the method years ago, pointing out that you can attack the currency if you have enough money to throw at it.
> Actual investors, not just "crypto investors" decide to milk it for what its worth.
> Chinks go oh shit mode and pulls the rug on everyone to save some of their own money
> Retards still HODLing and encouraging to buy tokens even when it is impossible because the network has been halted and exchanges have frozen the token.
> Now chink scammers talk about resetting network to "post attack", Fucking everyone who "bought the dip" even harder in the ass.

I think its standard procedure you faggot

>Can someone explain like im literally 10 years old what happened

Sure
>leave severely autistic person in your house with the instruction "keep the fire in the fireplace going while I'm away"
>something bad happens and you're away from your house for a long time
>come home, see your walls have been stripped down to bare pipes, your floorboards have been torn out and are just looking at dirt underneath, you no longer have cupboards but a pile of nails and screws, a big pile of stuffing is all that remains of your sofa, your mattress lies on the ground with no bedframe
>go around the corner and see autist desperately throwing in your chess set and the remains of your end table into the fire place as he's committed to maintaining that fireplace going just like you told him to

Now replace "severe autist" with
>the stablecoin algorithm
and your instruction to maintain the fire with
>keep UST pegged to $1.00
and replace all the wood in your entire house getting burned with
>algorithm printing trillions of Luna coins attempting to force the valuation of UST back to $1.00

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Literal money glitch

If UST is bought then LUNA is burned. There is hyperinflation of LUNA because everyone (and or the rugger) dumped their UST holdings.

Whoever crashed UST/LUNA then took control of the governance, which was cheap at the time thanks to the crash, and was voting to send all the BTC reserves to their own account.

I kekd hard and understood it thanks user

>sub

Go back to plebbit, nigger faggot

>6 TRILLION LUNA
How do they fix this?

Just change UST to a $0.1 peg instead of trying to get it back to $1. Problem solved.

>people sell LUNA for UST/10
>hyperinflation goes away

Airdrop everyone a few billion each.