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kwon is already out. he dissolved LUNA on April 30th, before it ever collaped. so why would i care what kwon does?
for me, this is a play on what vitalik buterin, or any other outsider, can do for LUNA.
if you read my post more carefully, you'll see i mentioned how dogecoin was basically a worthless pile of crap, but it was dirt cheap, so it got accumulated by a lot of rich people, celebrities, robinhood.
then they went to the media and had them whip up a great story.
total pump and dump. but it ran to $71B market cap.
LUNA can become anything now. maybe buterin will make it a fiat-backed stablecoin, or it could become something entirely different.
this is not a bankruptcy, and it never was.
LUNA is more like an OTC reverse merger.
false starts are often the case, but eventually one will move up and hold, then build on those gains. then others will do the same, and by then media will be asking if the crypto winter is over, and those who tell them what to say will be making big profits already.
enough people have told me that process could take "a long time" that i've just decided to stop reading about it, cease having opinions on their "way forward" and just focus on other trades.
i did read the entire article. when you have time, read various articles on south korea's parliament compelling kwon to testify. the article i posted never suggests kwon will face no consequences from regulators. regulators in s. korea are simply telling new investors not to buy.
you should also read the discussion our thread is having re: vitalik buterin's position, that LUNA investors must be made whole. VB was behind the legendary SHIB run, and gave india covid relief fund lots of SHIB while the run happened. corporate media helped, all the way.
LUNA's pro-fork people act as if LUNA is a bankrupt publicly traded equity. nothing could be further from the truth.
note how once dead-and-buried dogecoin hit a market cap of $71 billion because its investors were getting slimjim and other companies to tweet about it, and accept doge as payment. all while corporate media touted it.
but as soon as their doge promo was over media all admitted it has no intrinsic value. and tech changes fast. the market now knows, compared to newer deflationary cryptos, doge is just adding lots of supply daily.
to call dogecoin a currency, is to say we should inflate to avoid inflation. pretty hard to comprehend.
OTOH, baby doge coin is deflationary, while also a meme coin, and it's moving higher now during a bear market.
none of these tokens are publicly traded, none will ever go bankrupt. they are cryptos, that (like doge) could go totally dead while being accumulated, then run when media chooses to promote them.
so if LUNA burns a lot of supply, and puts a core business in that's viable, it can outrun doge, SHIB, baby doge coin, kishu inu, floki inu, dogelon mars, all of them.
bottom line: any meme coin that gets media promotion has far less going for it than LUNA. so if anyone calls LUNA "worthless" or "doomed" they look pretty silly.
same here, i won't be adding but am glad to hold what i've got. GL to us.
south korea's parliament demanded kwon testify, so maybe some there are betting they'll force him to fix what he broke, rather than letting him fork and start over.
agree that modest burn that's happening is bullish.
that may be motivating them to buy as well.
New Data Shows South Koreans Heavily Accumulating LUNA In Hopes of A Gigantic Price Rebound
By Okoya David Kio - May 19, 2022
https://zycrypto.com/new-data-shows-south-koreans-heavily-accumulating-luna-in-hopes-of-a-gigantic-price-rebound/
excellent! if they keep up that burn, i don't mind if we trend sideways or lower. lol
thanks for the update. if some volume-buyers want to do a big burn, it's really smart to allow LUNA to drop on low volume, and to slowly burn supply as they go.
will the burning be significant? i guess we shall see, but...
IF that's their plan, by the time most of the market catches on, they may already have a big batch eliminated.
eventually it reaches a tipping point where if a provable, huge amount is gone, i expect word will spread like wildfire, price will jump up fast, and any whale(s) hoping to "buy for burn" will have to get very aggressive for their remaining grabs, while LUNA is still relatively low-priced.
this could get fun, and quickly.
BDC's "self-reported circulating supply" is 154,334,184.61B BabyDoge tokens.
https://coinmarketcap.com/currencies/baby-doge-coin/
maybe they'll start burning it down.
this april 11th tweet from the BDC official account suggests so:
https://twitter.com/BabyDogeCoin/status/1513582491302600711?s=20
my guiding light is liquidity. i own LUNA:
https://coinmarketcap.com/currencies/terra-luna/markets/
as you can see, it has a huge number of markets.
meanwhile, WLUNA has just 16 showing:
https://coinmarketcap.com/currencies/wrapped-luna-token/markets/
i'll take a screenshot of WLUNA markets so we can compare later, if any are added or subtracted.
i tend to stay away from any pair that's predominantly traded on centralized exchanges, over defi sites.
this is such an important observation. ROX did, too.
FEG tanked even before the hack.
the reason for the FEG ape was solidarity with AMC apes. and FEG team members have been using AMC meme-stonk hashtags, for a year now, trying to get them to notice us.
AMC apes don't care about FEG.
even if they did, there's no educational videos showing them how to buy FEG with BNB and a software wallet.
so what's the point of FEG continuing to use a cartoon ape logo?
especially after "ApeCoin" launched.
they got noticed.
so now we look like we're copying them.
not to mention the clash between that goofy cartoon ape and sleek, serious SD marketing, along with sleek Grafene wallets, etc.
just to clarify, i have no problem with cartoonish marketing. it worked for Dogecoin, for SHIB, and many others. but mixing serious professional tools with cuteness becomes a muddle, and doesn't help either, they compete instead of being synergistic.
i'm going to run as far away from this blind loyalty as possible. and many more will join me.
Hooray for staying #FEGstrong, guys!
For the devs out here assisting the FEG Team in such difficult and stressful times, we stand with you and we appreciate you!
#FEG4life
#FEGEx #FEGToken #FEGRox #SmartDeFi
i've been trading defi for a while, and noticed pancakeswap has LUNA. so you can create a software wallet, fund it will BNB (which can now be purchased outside of binance), and never hassle with a centralized exchange.
who knows who these people are, at binance, coinbase, huobi global, etc -- yet they demand users give them a DL, passport, detailed financial disclosures. it's worse than any bank.
i don't trust anyone in this space, and the last thing i want is to hand sensitive documents to a wide range of exchange operators, most registered in the cayman islands, who never disclose a thing about themselves.
https://coinmarketcap.com/currencies/terra-luna/markets/
FEG token and its cartoon ape were never a hit with my peer group. i spent months trying to get friends and family on board.
once smartdefi was developed, the sleek and professional "shimmering blue crystalline" marketing of SD wasn't complimentary with the gorilla, it clashed with it. and people told me this. they said the tech seems really sophisticated, but the ape logo makes it feel like a joke.
now here's where it gets worse.
months after i first told them about FEG, a few friends remarked -- all along, they thought i was saying "fag token", and were immediately confused. so much so, they couldn't really focus on anything else i said. and i get that. when people hear something new, if the first part of it makes no sense, then they are forever trying to catch up with each subsequent bit of info.
marketing 101: confusion is the enemy.
some wondered, why didn't they call it "FTG" for "feed the gorillas", since that's harder to confuse with the word "fag". i could tell they felt a bit embarrassed for me.
if anyone is upset by my post, i'm sorry. but you should know how the outside world reacts to the FEG brand. this is called a "reality check'.
i've since asked die-hard loyalists, who are part of the FEG-faithful, in telegram chats, and it turns out the vast majority of us feel exactly the same, as outsiders i pitched FEG to months ago!
but i can imagine most of us are afraid to speak up about FEG's clunky marketing, for fear "the group" will be offended.
this is the problem with any stock or crypto movement. group-think stifles clarity of branding, clarity of purpose.
so now that this hack has occurred, i see it as a time to ask tough questions about FEG's marketing, and possibly pivot to better ideas. confidence needs to be rebuilt, and that can't happen if the branding itself is clunky and the team at the top refuses to see it.
note the latest FEG update in https://t.me/FEGchat and what they say about FEG remaining the core of their ecosystem.
i'd rather it was just the opposite, that if FEG and ROX do survive, they become just two early tokens launched in the SmartDeFi ecosystem.
what comes with the territory in bear markets are hedge funds caught on the wrong side of the trade, who may make speculative bets to reverse losses.
the difference between now and 14 years ago (2008 crash) is wall street has crypto within easy reach.
part of it too, in weak retail sales, is just tapped out consumers, whose wages haven't grown as prices have skyrocketed.
corporate monopolies on housing have resulted in sky-high rents, too, so it's not just food and gas.
this means a huge segment of consumers have entirely run out of money.
it's the investor class, and the shrinking middle class (a small % of the whole) who will horde money.
many at the very top were already awash with cash and not spending it or already had it parked.
so this isn't great for banking, which is a usual safe-haven trade as rates rise.
as more renters face eviction, corporate housing conglomerates may default and put more pressure on lenders. rising rates mean fewer new loans for them as well.
2008 "too big to fail" repeat coming? i can already hear their 2 favorite words: taxpayer bailout.
i've been pounding the table on these lately. Baby Doge Coin ripping off the bottom -- up 20.73%.
how it coincides with the dow's big drop today makes me wonder, is wall street entering crypto?
and will binance boost its bottom line by finally listing some of these altcoins that are already trading on lower-tier exchanges?
maybe robinhood will list baby doge coin before binance.
but something is definitely up.
i remember when vitalik buterin gave a lot of SHIB tokens to the india covid relief fund. then SHIB kept on running and was legendary.
https://fortune.com/2021/05/13/shiba-inu-coin-donation-india-covid-19-crisis-crypto/
unlike SHIB, LUNA has a name and following based on real utility. that's worth something, on its own.
here's buterin's chance to load up, run LUNA by creating legit value (fiat backed stable, perhaps?), and maybe even give those who were wiped out in LUNA's drop some compensation, out of his own gains.
i'm not saying that's how it will turn out, but VB has set a precedent for being philanthropic with SHIB crypto.
and media covered his every move.
so i'm betting on a favorable outcome.
VB saving LUNA could also become the catalyst for a crypto rally, just in time for cash exiting stocks to load the bottom of a deep dip.
Ethereum co-founder says every ‘average smallholder’ impacted by Terra’s stablecoin crash should be made whole, cites FDIC’s $250,000 as ‘precedent’
https://fortune.com/2022/05/15/ethereum-founder-vitalik-buterin-terra-ust-stablecoin-investors-should-be-made-whole-fdic/
remember many altcoins have 15% slippage, if you're planning to flip crypto pairs on pancakeswap or uniswap, during this drop. that's a huge tax that can add up quickly.
likewise, i know we're all looking forward to whatever emerges from this. and what better time to tackle technical issues, than while markets are plummeting.
stocks, crypto -- mostly deep red.
smartdefi -- frozen in time.
here's to better days, with a thriving SD ecosystem.
Bitcoin production roars back in China despite Beijing’s ban on crypto mining
https://www.cnbc.com/2022/05/18/china-is-second-biggest-bitcoin-mining-hub-as-miners-go-underground.html
LUNA dipped and is getting gobbled.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168905885
imo that story is just beginning.
we frequently talk about the "next SHIB". read the linked post above. ^^^
and a chart update:
is vitalik buying the LUNA dip?
some backstory here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168905141
just look at those candles....
nice to see you here, SB. given the recent drop, it's probably a good entry on LUNA today imo.
markets listed for XRP are here:
https://coinmarketcap.com/currencies/xrp/markets/
if hackers applied their same tenacity to helping devs block the holes, to create a safer environment, they could make a much bigger profit just owning these tokens.
hackers should stop picking the low-hanging fruit and learn to invest.
then we all win.
i'm still hopeful for a positive outcome:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168895776
we agree, i like the market action on LUNA a lot. low volume pullbacks (in a situation like this) are bullish. lots of eyes are on LUNA, so it's not due to lack of interest.
and if accumulation in advance of a burn is happening, less volume is helpful. they may slowly drop the price to load more.
we shall see.
i'm riding a free position after flipping it.
it's still a bearish market, but a few weeks ago if the dow had tanked 1,179 points all cryptos would be red.
i have seen both BNB and ETH pairs are green today. that's also unusual, since it's not about the underlying asset.
i'm just identifying pockets of strength and am not suggesting anyone buy or sell.
the time stamps line up. lol
thanks, this is going to be impossible for most outsiders to untangle. i think about CZ, who tweets about LUNA like an observer, but it turns out binance had an early stake in the project! so CZ knows this situation more intimately than most.
who stands to gain by loading cheap LUNA in the open market, burning tokens, and being the hero who actually saves LUNA's investors?
that could be vitalik buterin more than anyone.
i'm sure he did very well with SHIB.
LUNA could be even bigger.
Ethereum co-founder says every ‘average smallholder’ impacted by Terra’s stablecoin crash should be made whole, cites FDIC’s $250,000 as ‘precedent’
https://fortune.com/2022/05/15/ethereum-founder-vitalik-buterin-terra-ust-stablecoin-investors-should-be-made-whole-fdic/