Latest from the Terra ecosystem has it that the most recent “revival plan” of Do Kwon’s proposal to fork the terra chain has received around 90% votes against it by the participants in the terra community.
Word on the street has it that old investors I.e, those that invested in Luna around the prices of 40$-80$ are mostly against the fork but are more interested in buying back and burning a large amount of the remaining Luna supply in hopes that Luna will garner value over time.
On the other end, new investors who invested under the fraction of a cent from around 0.01-0.001$ before the snapshot want the fork because it is basically going to be free money for them. 10$ could get you millions of Luna, so if after the fork, 1 Luna is worth $1, millionaires will be made out of thin air. You get the drift.
You’d love to see the actually valid arguments backing both ends of investors, both sides seem to have valid arguments supporting their claims.
In my opinion no end is more or less deserving than the other. At the end of the day, everyone invested, only at different timing. The most interesting reason to fork Terra is monetary, which isn’t necessarily a bad thing, the main reason older investors are throwing a feat is because they fear getting dumped on in the fork but that’s not certain especially with the vesting mechanics in place.
I had one Luna before it depegged, bought some more at 0.0$ range for nothing’s sake, I’m fine either way. I’ve always been of the opinion that Luna needs more use case. Without addressing this, the fork will be left to the same fate of people selling off.
This mess is such a headache.
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Man, crypto math is weird. Instant millionaires for spending $10.
I know if I were made an instant millionaire on this, I would be running tot he exchange to sell the second it happened.
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(3/10)
A gamble with no use case and see it failing miserably when the others are able to unstake.
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The future of Terra is just looking so bleak at the moment, if there’s any major turnaround, I will be entirely flabbergasted
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Do knows make mistake by making Bitcoin as Luna reserve,I hope he doesn't make another mistake this time around
If we open the textbook of mistakes he made, it’s actually a lot.
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I just don't think it can rise from the ashes. Those not in Luna will see it as a likely failure again and those in Luna may want to move on to something else and distance themselves from the pain.
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It’s a mess. My heart really goes out to every affected investor.
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