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Thoughts on LUNA

Blacksheep

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Would like to hear what you guys think about TERRA LUNA and that crash that happened.

Do you think its temporary or its the end of this coin?
 

BackInTheGame78

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Would like to hear what you guys think about TERRA LUNA and that crash that happened.

Do you think its temporary or its the end of this coin?
It was a coordinated attack by big money done at the exact time when it was at its most vulnerable as they removed liquidity from $UST to set up a new 4Pool account which ironically would have greatly reduced the chance for this style of attack to work. Estimated they made about $800 million from it.
 

Blacksheep

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It was a coordinated attack by big money done at the exact time when it was at its most vulnerable as they removed liquidity from $UST to set up a new 4Pool account which ironically would have greatly reduced the chance for this style of attack to work. Estimated they made about $800 million from it.
Any chances that this project recover from it? I didnt have any money at it... But they said it was a good project.

I put some few bucks on it as its very cheap now... But it was a big fall they had.
 

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BackInTheGame78

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Any chances that this project recover from it? I didnt have any money at it... But they said it was a good project.

I put some few bucks on it as its very cheap now... But it was a big fall they had.
From what I have seen on Twitter it appears they are going to start a new LUNA v2 project and are planning to use the liquidity left to at least return some money to those effected by both crashes.

The Terra Blockchain and ecosystem were great, if I were them I would avoid stablecoins...yeah it was a big part of their success but they didn't need it to be a long term viable project.

Nobody would ever trust him again with stablecoins as it came to light Do Kwon was also "Rick" in the Rick n Morty team that failed with Basis Cash(BAC), a prior algorithmic stablecoin that also went to zero .
 

Blacksheep

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From what I have seen on Twitter it appears they are going to start a new LUNA v2 project and are planning to use the liquidity left to at least return some money to those effected by both crashes.

The Terra Blockchain and ecosystem were great, if I were them I would avoid stablecoins...yeah it was a big part of their success but they didn't need it to be a long term viable project.

Nobody would ever trust him again with stablecoins as it came to light Do Kwon was also "Rick" in the Rick n Morty team that failed with Basis Cash(BAC), a prior algorithmic stablecoin that also went to zero .
Yep, I think it would require a big effort to make people trust on it again. Gonna research more about this LUNA v2 idea and keep myself updated.
 

BackInTheGame78

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And here is the plan in detail...as I had suggested...remove stablecoin and keep the Blockchain.

Fork the Blockchain and current iteration of Luna becomes Luna Classic.

 

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Blacksheep

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And here is the plan in detail...as I had suggested...remove stablecoin and keep the Blockchain.

Fork the Blockchain and current iteration of Luna becomes Luna Classic.

Thanks for sharing man! Gonna read it now.
 

DEEZEDBRAH

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It was a coordinated attack by big money done at the exact time when it was at its most vulnerable as they removed liquidity from $UST to set up a new 4Pool account which ironically would have greatly reduced the chance for this style of attack to work. Estimated they made about $800 million from it.
Insane. I never got into luna fortunately but with the btc backing, I thought it was a good support system. I don't fully understand what happened. I just think the dork trolling on twitter got wrecked by a coordinated attack. it sucks for anybody involved.

crazy. People kept buying more. Insane lots of places were still selling luna.
 

DEEZEDBRAH

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And here is the plan in detail...as I had suggested...remove stablecoin and keep the Blockchain.

Fork the Blockchain and current iteration of Luna becomes Luna Classic.

But would you part your money with that? I think it's ideal for anybody involved. There's no way I go anywhere near it.
 

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BackInTheGame78

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Insane. I never got into luna fortunately but with the btc backing, I thought it was a good support system. I don't fully understand what happened. I just think the dork trolling on twitter got wrecked by a coordinated attack. it sucks for anybody involved.

crazy. People kept buying more. Insane lots of places were still selling luna.
The really crazy part? On Kucoin spot Thursday night it hit a low of .0000006 and within 24 hours it reached .000426, a gain of 770x.

$100 invested at the bottom would have made you 77K in less than a day.
 

Blacksheep

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The really crazy part? On Kucoin spot Thursday night it hit a low of .0000006 and within 24 hours it reached .000426, a gain of 770x.

$100 invested at the bottom would have made you 77K in less than a day.
Thats a lot of money!

Is it possible to have some pump when they released the new LUNA? If they do a hard folk it will be a new coin, so idk if its gonna change that much.

Also there is that airdrop thing, but it seems it will only be good for holders before the attack and developers.
 

DEEZEDBRAH

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The really crazy part? On Kucoin spot Thursday night it hit a low of .0000006 and within 24 hours it reached .000426, a gain of 770x.

$100 invested at the bottom would have made you 77K in less than a day.
That's insane. Dude had people showing up at his apartment. His wife was in hiding or do they say. I never know what is true and what's a pity party.

What do you think happened to set this off? I saw Charles Hoskinson tweet about the attack and the rumor of who is involved. I just don't want to see it happen again or especially to and blue chips.

Unreal. I was shocked to see many huge crypto influencers live stream buying more Luna despite its apparent death. As you pointed out there was a small window of opportunity. Again, I thought the btc purchases was a good backing unlike say vapor wear cryptos.

I'm convinced 99% are going to zero. That there's only few legit projects though you can make money on anything in the correct time frame. Under 30k usd btc is insane.
 

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BackInTheGame78

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That's insane. Dude had people showing up at his apartment. His wife was in hiding or do they say. I never know what is true and what's a pity party.

What do you think happened to set this off? I saw Charles Hoskinson tweet about the attack and the rumor of who is involved. I just don't want to see it happen again or especially to and blue chips.

Unreal. I was shocked to see many huge crypto influencers live stream buying more Luna despite its apparent death. As you pointed out there was a small window of opportunity. Again, I thought the btc purchases was a good backing unlike say vapor wear cryptos.

I'm convinced 99% are going to zero. That there's only few legit projects though you can make money on anything in the correct time frame. Under 30k usd btc is insane.
Honestly it was Do Kwon's arrogance and hubrus that probably set this all in motion. He repeatedly would trash talk people regarding LUNA when they would call it a ponzi, etc...including telling billionaires to try and depeg UST and "see what happens".

Never discount simple petty "grudges" these ultra rich people have...many of them take those very seriously and will go to great lengths to see them through.

Probably ticked a lot of people off who were happy to see him fail.
 
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jaygreenb

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Would like to hear what you guys think about TERRA LUNA and that crash that happened.

Do you think its temporary or its the end of this coin?
If we have a prolonged bear market, my bet is it fades away in that time. A lot of people got burned and will always have this event attached to it. Do Kwon probably needs to fade from the public eye for a bit. I imagine other big names like Novogratz would not want to be attached to it anymore as well.
 

DEEZEDBRAH

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Honestly it was Do Kwon's arrogance and hubrus that probably set this all in motion. He repeatedly would trash talk people regarding LUNA when they would call it a ponzi, etc...including telling billionaires to try and depeg UST and "see what happens".
Charles Hoskinson is a bit extra but he doesn't troll like Do. Tbh I don't fully understand liquidity nor what happened. I think buddy trolled and taunted before getting counter punched hit dead. Luna is dead. And fork is a piss poor attempt to save VC money's not the community. Nobody involved wants a fork but I digress. Never touched it.

Never discount simple petty "grudges" these ultra rich people have...many of them take those very seriously and will go to great lengths to see them through.
That's solid advice. Something I intend to watch for in the future. Humility goes a long way and had Do flexed less online, people in the Luna community maybe sitting pretty.

Probably ticked a lot of people off who were happy to see him fail.
Agreed. What kept you out of that project? I assumed I missed the boat similar to Sol. With Sol, I saw too much VC money. Also how fast it pumped up and crashed faster then other projects not to mention the outages. I thought Luna was solid BUT I was focused elsewhere. Less projects but going in hard. Less vapor wear. More legit projects. Seeing btc as the play. Everything else 2nd best if that.
 

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jaygreenb

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Charles Hoskinson is a bit extra but he doesn't troll like Do. Tbh I don't fully understand liquidity nor what happened. I think buddy trolled and taunted before getting counter punched hit dead. Luna is dead. And fork is a piss poor attempt to save VC money's not the community. Nobody involved wants a fork but I digress. Never touched it.



That's solid advice. Something I intend to watch for in the future. Humility goes a long way and had Do flexed less online, people in the Luna community maybe sitting pretty.



Agreed. What kept you out of that project? I assumed I missed the boat similar to Sol. With Sol, I saw too much VC money. Also how fast it pumped up and crashed faster then other projects not to mention the outages. I thought Luna was solid BUT I was focused elsewhere. Less projects but going in hard. Less vapor wear. More legit projects. Seeing btc as the play. Everything else 2nd best if that.
With alts, typically if you missed the pump it is too late to get involved. Most only get 1-2 parabolic moves per cycle then lose a majority of value. You have the right idea on focusing on quality. Will probably make a few bets on alts that will be relevant in a few years if we get another large draw down. Most likely they wont get another large move up for a few years though.
 

DEEZEDBRAH

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With alts, typically if you missed the pump it is too late to get involved. Most only get 1-2 parabolic moves per cycle then lose a majority of value. You have the right idea on focusing on quality. Will probably make a few bets on alts that will be relevant in a few years if we get another large draw down. Most likely they wont get another large move up for a few years though.
Yeah. Staying in blue chips. Holding any other long position otherwise. in less projects now but going in hard where I see value. I missed 29k last year. I'm ready this time. Content with acquiring near bottom.

Curious what your strategy is going forward? My playbisvto accumulate and keep dry powder on the side. Would like to acquire more disruptive stocks as well while everything is on discount.
 

Blacksheep

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Honestly it was Do Kwon's arrogance and hubrus that probably set this all in motion. He repeatedly would trash talk people regarding LUNA when they would call it a ponzi, etc...including telling billionaires to try and depeg UST and "see what happens".

Never discount simple petty "grudges" these ultra rich people have...many of them take those very seriously and will go to great lengths to see them through.

Probably ticked a lot of people off who were happy to see him fail.
Do you have any good technical analysis book to recommend for reading?

Got one from Glen goodman, its good but it doesnt get so deep into chart analysis. And he recommended one from Richard Schabacker.
 

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jaygreenb

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Yeah. Staying in blue chips. Holding any other long position otherwise. in less projects now but going in hard where I see value. I missed 29k last year. I'm ready this time. Content with acquiring near bottom.

Curious what your strategy is going forward? My playbisvto accumulate and keep dry powder on the side. Would like to acquire more disruptive stocks as well while everything is on discount.
Currently I am just being patient and building my cash position. I am already heavily allocated to btc and eth though, so if it runs up I am completely comfortable with where I am at currently. If I was in the position of wanting a larger percentage there, I would be cautiously adding now with a very low DCA, making sure I have a lot of dry powder if we get another leg down. Currently I think there is high probability they we get massive deflation which will pull down all asset classes. I would not be in a rush to buy anything right now and would only buy assets I am comfortable holding 5-10yrs+. I will deploy cash to where I think the best opportunities are and not sure how that all shakes out yet.
 

jaygreenb

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Currently I am just being patient and building my cash position. I am already heavily allocated to btc and eth though, so if it runs up I am completely comfortable with where I am at currently. If I was in the position of wanting a larger percentage there, I would be cautiously adding now with a very low DCA, making sure I have a lot of dry powder if we get another leg down. Currently I think there is high probability they we get massive deflation which will pull down all asset classes. I would not be in a rush to buy anything right now and would only buy assets I am comfortable holding 5-10yrs+. I will deploy cash to where I think the best opportunities are and not sure how that all shakes out yet.
One other thing to add is I have a pretty significant position in physical precious metals, around 10% of my investable net worth. I also like commodities, miners of all metals(especially related to green energy) & traditional energy. They could get smacked too initially in a deflationary event but would be looking to add here as well. Obviously I love bitcoin and eth but it is important to be well rounded. Going to be a very volatile decade even in the asset classes I like. Making sure you have the cash flow to ride out that volatility will be very important. As well as staying away from leverage.
 
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