Attempt To Save Terra LUNA begins

[Yugocean]

Crypto Lionel posted some tips on saving the LUNA, which was rejected by CZ, Binance; however, Terra's Bitcoin reserve may play a part.

Lionel suggesteda TERRA2 hardfork, taking snapshot of all transactions to destribute HODLers fresh LUNA2, while generating a new chain and pool to refund the old UST peg.

CZ, CEO of Binance expressed his dissatisfaction, pointing out that forking had no value for the new fork. He also pointed out that old snapshots cannot cancel all transactions.
CZ even inquired about the BTC reserves that were meant to be utilised.


Terra's Bitcoin Reserve
It is very well known that the Luna Foundation Guard Bitcoin reserve was supposed to be utilized to bail out during such situation.

The LUNA foundation is rumored to have sent $2 billion worth of bitcoin to the Binance and Gemini markets. According to Luke Martin's investigation, 52K Bitcoins was sent to Gemini and 28K to Binance.

So steps to save LUNA have begins, but this is not a green signal from my side to invest in LUNA.​

 

[Ithedicious]

Well , the coin has been increasing massively after it has seriously drop. Yesterday that I checked , it has ncreased by almost 1500% and people who invested at the bottom were able to make a lot of money from their investment , but at the same time a lot of people like some of my friends who saw the coin at 0.1 dollars few days ago consider it to be one of the best time to buy the coin. After they bought the coin at that it started dropping seriously to 0.0002.

They lost so much money . So many traders are saying that we should consider investing in the coin that the possibility of it growing back is still very high . For me the Risk is too much .

I really thank God I did not invest in cryptocurrency , and all these thing is not encouraging me because I was just making arrangement to start investing in my favourite cryptocurrency but all these rugpulling stuff and scamming project is just making the crypto space scary to invest on. Well let's see how it goes . We don't even know what they are doing next . .

 

[Yugocean]

@Ithedicious , LUNA is centralized and it depends on many other things than market only. LUNA's supposed max was 1 Billion, but it's developer circulated 7 Billion even when LUNA was not properly half way, so price was surely going down. Soon people realized and started panic sale, but that was too late.

I yet have to find someone who made a profit after LUNA raised hitting a 0. However, there is no one. Mosr People now consider LUNA as scam.

For you, it is better to not left out, of course Market may go down further, but better invest (or earn for free) some crypto.