HanoiVillan Posted May 17, 2022 Share Posted May 17, 2022 18 hours ago, Genie said: Any idea what this means to simpletons? (thread). Will the current LUNA token now die? I have some which I picked up at the bottom, will I get some of this new token automatically? Do not take any of this as actually true, because I'm just attempting to understand what's written, but as far as I can see you are due to receive some of the new token, presumably automatically ('air-dropped'?). I have grave doubts about whether it will be worth anything much in the short term (because presumably you will have to take a haircut on the number of tokens or else they will be worth very little) or in the medium term (because as far as I can tell, his new system is basically the same as the old one but is "only" promising a similarly unsustainable interest rate of 7% p/a). However, given your current holdings are presumably now absolutely worthless, it can hardly become worth less! Link to comment Share on other sites More sharing options...
Genie Posted May 17, 2022 Share Posted May 17, 2022 (edited) 1 hour ago, HanoiVillan said: Do not take any of this as actually true, because I'm just attempting to understand what's written, but as far as I can see you are due to receive some of the new token, presumably automatically ('air-dropped'?). I have grave doubts about whether it will be worth anything much in the short term (because presumably you will have to take a haircut on the number of tokens or else they will be worth very little) or in the medium term (because as far as I can tell, his new system is basically the same as the old one but is "only" promising a similarly unsustainable interest rate of 7% p/a). However, given your current holdings are presumably now absolutely worthless, it can hardly become worth less! The initial punt is worth nothing now. I went in again near the bottom to try and cover my losses a bit and it’s about £200 up. I have a stop loss on it so if it dives again I get some profit still. Its a complete shit show and shows up just how dodgy and shady crypto trading often is. Even one of the biggest projects in the world tanks and collapses in a single day. Edited May 17, 2022 by Genie 1 Link to comment Share on other sites More sharing options...
Genie Posted May 18, 2022 Share Posted May 18, 2022 (edited) It looks like Terra have voted to create a new blockchain. Quote Create a new Terra chain without the algorithmic stablecoin. The old chain to be called Terra Classic (token Luna Classic - LUNC), and the new chain to be called Terra (token Luna - LUNA) Luna to be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic. TFL’s wallet (terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6) will be removed in the whitelist for the airdrop, making Terra a fully community owned chain Allocate a large portion of the token distribution in 1) providing emergency runway for existing Terra dapp developers 2) align interest of devs with the long term success of the ecosystem Network security to be incentivized with token inflation. Target staking rewards of 7% p.a. It’s all very shady and dodgy. Pretty much nobody wanted this, they wanted the trillions that were minted to be burned. The old token hasn’t tanked yet so we’ll see. I guess it will after airdrop of new coin has happened. link Edited May 18, 2022 by Genie Link to comment Share on other sites More sharing options...
KAZZAM Posted May 21, 2022 Share Posted May 21, 2022 On 18/05/2022 at 14:08, Genie said: It looks like Terra have voted to create a new blockchain. It’s all very shady and dodgy. Pretty much nobody wanted this, they wanted the trillions that were minted to be burned. The old token hasn’t tanked yet so we’ll see. I guess it will after airdrop of new coin has happened. link I think its done no matter what they try. 1 Link to comment Share on other sites More sharing options...
Genie Posted May 22, 2022 Share Posted May 22, 2022 LUNA +100% in 24 hours giving people a chance to cash out and recover some money. It seems to stem from a tweet from the creator with a burn address. I can’t see it being sustainable with 6.5T tokens circulating. Link to comment Share on other sites More sharing options...
wazzap24 Posted May 23, 2022 Share Posted May 23, 2022 (edited) Loopring popping (+19%) today on the launch of the GameStop wallet. I made some nice returns on it’s run last year, but my current holding is at a $1 average, so I need a serious pump to get back in the green. Edited May 23, 2022 by wazzap24 Link to comment Share on other sites More sharing options...
ender4 Posted May 26, 2022 Share Posted May 26, 2022 I'm just ignoring my holdings in Etherium... its half the price i bought it at. Ah well, hold for a few years and see what happens. 1 Link to comment Share on other sites More sharing options...
Rolta Posted May 28, 2022 Share Posted May 28, 2022 (edited) On 23/05/2022 at 15:05, wazzap24 said: Loopring popping (+19%) today on the launch of the GameStop wallet. I made some nice returns on it’s run last year, but my current holding is at a $1 average, so I need a serious pump to get back in the green. Me too. I saw one crypto guy saying ages ago 'sell the news' (Gamestop news) and I wish I had listened. As we both know it went back down in about a day. I was up a nice amount! I watch Eric Krown's videos and he's been useful for me. I managed to lower my average a huge amount in the last month or so as he called that 30% or whatever drop. He's leaning towards another big drop next week too depending on how it goes this weekend, so I think I'll try to lower my average even more if that happens. Edited May 28, 2022 by Rolta Link to comment Share on other sites More sharing options...
Demitri_C Posted June 9, 2022 Share Posted June 9, 2022 I dont think there is serious money to be in crypto anymore unless you gamble or are reckless onvest a big amount and take out quickly. I stopped doing it last year as i found it too volatile and luckily took it all out while i was up before the massive crash happened in December Link to comment Share on other sites More sharing options...
Genie Posted June 11, 2022 Share Posted June 11, 2022 Some major collapses happening in Crypto world these last few days Link to comment Share on other sites More sharing options...
Lichfield Dean Posted June 13, 2022 VT Supporter Share Posted June 13, 2022 Oh dear. Hope nobody here has lost large sums of money. I'm down about £200 because I just dabbled for curiosity and maybe a long term bet, but still... Link to comment Share on other sites More sharing options...
Tegis Posted June 13, 2022 VT Supporter Share Posted June 13, 2022 On a brighter note, I found an old wallet I forgot about from 2016 when I helped a dunce friend to get back his encrypted drive from a hack. Please don't ask if he did backups. It had 0.018 BTC worth of change on it. Result 1 Link to comment Share on other sites More sharing options...
Genie Posted June 13, 2022 Share Posted June 13, 2022 ETH looks like it’s about to go below £1k. I’m sure there’s people who have borrowed or gambled what they can’t afford to lose in crypto who are screwed by this. Pretty bad timing with the cost of living going though the roof. Link to comment Share on other sites More sharing options...
HanoiVillan Posted June 13, 2022 Share Posted June 13, 2022 Celsius has 'paused' withdrawals, presumably an imminent sign of collapse. Link to comment Share on other sites More sharing options...
Genie Posted June 13, 2022 Share Posted June 13, 2022 10 minutes ago, HanoiVillan said: Celsius has 'paused' withdrawals, presumably an imminent sign of collapse. Even if they weren’t about to collapse, as soon as they resume now there will be a run that causes them to collapse. 1 Link to comment Share on other sites More sharing options...
Genie Posted June 13, 2022 Share Posted June 13, 2022 It’s funny hitting refresh every 5 minutes watching the prices go down and down. Link to comment Share on other sites More sharing options...
villa89 Posted June 13, 2022 Share Posted June 13, 2022 13 hours ago, Lichfield Dean said: Oh dear. Hope nobody here has lost large sums of money. A lot of people will have. I dont really have any sympathy to be honest, they should have known the risks of what they were getting into. Link to comment Share on other sites More sharing options...
Genie Posted June 13, 2022 Share Posted June 13, 2022 22 minutes ago, villa89 said: A lot of people will have. I dont really have any sympathy to be honest, they should have known the risks of what they were getting into. Yes, it’s pretty much gambling. Don’t bet what you can’t afford to lose should be applied. 2 Link to comment Share on other sites More sharing options...
villa89 Posted June 14, 2022 Share Posted June 14, 2022 10 hours ago, Genie said: Yes, it’s pretty much gambling. It could also be labelled a pyramid scheme. 1 Link to comment Share on other sites More sharing options...
lapal_fan Posted June 14, 2022 Share Posted June 14, 2022 Good for the environment too, hope it completely collapses. What a load of digital shite. 1 Link to comment Share on other sites More sharing options...
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