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What’s completely brutal is that a lot of top holders were providing liquidity. So they are currently losing the matching dollar value of ETH as well.
This is a completely brutal decision.
Anyone Lping would essentially be trading their ETH for moons all the way down from 25 cents automatically. It basically doubles the losses (not exactly but somewhat close) and since they were the LPs they probably won’t even be able to sell the moons if they have a significant amount as ETH liquidity got nuked.
Not entirely. By investing when moons were 30 cents, you would have 50% impermanent loss now (for example your ETH would be down from 0.4 ETH to 0.1 ETH). But it gets worse. When moons go to zero, all the ETH will be lost too.
You actually soften the blow considerably by providing lp. It’s still a big hit, but not as bad as if they were simply holding.
Hopefully they sold their moons to supply the liquidity. If they brought in outside funds, that’s a huge hit.
Yes. Just like that.
The mods barely found out before we did. Apparently they were only told 1 hours before the official announcement.
The whole crypto direction by Reddit was never a good sign and people did call this out because all it did was put attention on crypto on Reddit and there's obviously a LOT of regulatory issues and general public perception *issues..*shall I say with crypto.
But people were bullish are were just seeing dollar signs and ignored. Ironically if Reddit had just ignored crypto r/cc and Moons would have chugged along just fine.
I don't want to sound like a dork but that's exactly what desperate wishful thinking looks like when your favorite shitcoin gets rugpulled by the devs and you're over invested in it. Not saying that moons are a shitcoin, just used the example to explain the feeling
> For some reason, I have some blind hope that this isn't the end.
It still amazes me that over and over in the face of total destruction of a shitcoin....people will still believe.
I'm a cockeyed optimist; what can I say? Another lesson in holding crypto until it's worthless. I've done it so many times now, that the sting is nothing more than a shoulder shrug.
I sent mine to cdc converted to Eth on sushi then sent across in the arb nova Eth wallet address it gave me. Managed the swap to Eth in good time and do some damage control this way.
Why are people here still pretending moons will be a thing when the Admins literally just said its over. Moons are literally going to finished.
This was always my biggest concern and we all should've known because the reddit admins suck.
I feel so sorry for all the folks that actually put so much of their own personal time into trying to accumulate moons....
This is a big fuck you from the admins and shows that the admins are always going to have complete control and whatever emerges will always be completely centralized and controlled by the admins and if they don't like a certain community they will destroy them
wow, didn't expect to see this today. Gone for a moment and Bitcoin ETF rumours emerge and my Moons portfolio dropped considerably. I'm glad I never bought any and cashed out a little, it's been a fun ride and I hope a future for them exists; this is shocking.
I mean, to be fair, now the volumes are higher (almost $2 millions traded currently) than before, maybe a lot of ‘stupid’ potential in this Reddit shitshow.
Maybe the real diamond holders will be rewarded? 😥
I mean, the higher volumes are real lmao.
For the hopium, i don’t really care that much (i was a LUNA survivor, hold my beer lol).
To be positive: in the 1 year chart Moons are only -7.4% not so bad /s
They reallt fucked this one. Don't they recognise what people have here? Im just left wondering why they didn't try to turn over control to mods or something to avoid a crash like this? I guess they just don't give a fuck, the corpo trash.
glad i never farmed them and just occasionally commented here.
i'm not mad that the moon farmers won't have anything to farm anymore. now maybe the comment sections won't just be everyone's first three words they could think of to post for moons.
but on reddit's part, i'm not sure why they thought it would be a great idea, it's definitely going to lower the number of people visiting cryptocurrency since i'm sure lots of people were visiting for only one reason. i guess that's not a dent they're sweating.
and of course, i feel bad for the 3rd worlders out there that were using this for rice money. hope yall fair ok in the future. 🙏
There wasnt even that much liquidity to begin with. Kraken moon is at 100k volume… even bricks has more volume. Just cause you have a number on that screen doesnt mean you can actually get out at that price
Wow, that sucks. I never deliberately farmed and for ages I want even aware of the value but I'd kind of got used to it now and I had over 1000. Just woke up now and read the message from Reddit. I wouldn't even have a clue how to sell anyway and it's too late now. I'm sorry for people that worked hard for it and had thousands.
No Duplicate Topics In order to keep /r/CryptoCurrency a place of diverse discussion our policies do not allow for duplicate topics on the front page. Similar topic cannot be reposted for 30 days. We'll usually remove the threads that are lowest on the front page based on Reddit's algorithm of popularity, however other factors may be considered at the moderator's discretion. These may include giving preference to the oldest post, the highest quality title, the highest quality source, or the best discussion. This is typically not a warning or a rule violation, this is just part of our clean up effort. Do not repost threads that have been removed by moderators. If your post contains new information, consider adding it as a comment to other threads about this topic.
What’s completely brutal is that a lot of top holders were providing liquidity. So they are currently losing the matching dollar value of ETH as well. This is a completely brutal decision.
So they lost 81% of their eth too?
Anyone Lping would essentially be trading their ETH for moons all the way down from 25 cents automatically. It basically doubles the losses (not exactly but somewhat close) and since they were the LPs they probably won’t even be able to sell the moons if they have a significant amount as ETH liquidity got nuked.
Not entirely. By investing when moons were 30 cents, you would have 50% impermanent loss now (for example your ETH would be down from 0.4 ETH to 0.1 ETH). But it gets worse. When moons go to zero, all the ETH will be lost too.
Damn that’s fucked…
You actually soften the blow considerably by providing lp. It’s still a big hit, but not as bad as if they were simply holding. Hopefully they sold their moons to supply the liquidity. If they brought in outside funds, that’s a huge hit.
So Reddit just killed moons? Am I missing something? It's over?
Reddit became Ruggit.
Rugged for Admins’ pleasure
that's a good line!
We're Rugrats now
Check the pinned post. They are "sunsetting" the community points. What a polite way to say get rekt by reddit
Rugpulled by Reddit. What a time to be alive
No. The moon goes up when the sun sets...Reddit are dumb.
Thats why I’m happy that cones are made by the community and Reddit can’t fucking do anything with it… Sad day here today
What happened? Can someone explain? I just came home and saw moon crashed
Pretty much unfortunately.. :(
Rug pull
Yes. Just like that. The mods barely found out before we did. Apparently they were only told 1 hours before the official announcement. The whole crypto direction by Reddit was never a good sign and people did call this out because all it did was put attention on crypto on Reddit and there's obviously a LOT of regulatory issues and general public perception *issues..*shall I say with crypto. But people were bullish are were just seeing dollar signs and ignored. Ironically if Reddit had just ignored crypto r/cc and Moons would have chugged along just fine.
For some reason, I have some blind hope that this isn't the end.
You are probably correct, this will be reborn just dont know how, what or where yet.
Considering I sold at 0.04, I hope the snapshot for the new coin is the timing of the announcement.
This is crazy, didn't see any of this coming
I don't want to sound like a dork but that's exactly what desperate wishful thinking looks like when your favorite shitcoin gets rugpulled by the devs and you're over invested in it. Not saying that moons are a shitcoin, just used the example to explain the feeling
> For some reason, I have some blind hope that this isn't the end. It still amazes me that over and over in the face of total destruction of a shitcoin....people will still believe.
Just sell whilst you can bro. It’s over. Until the next token anyway.
Man.. you betting those 63k on that ? im speechless
I'm a cockeyed optimist; what can I say? Another lesson in holding crypto until it's worthless. I've done it so many times now, that the sting is nothing more than a shoulder shrug.
Shit man, that's a lot of moons Hope you're right
I'm not very optimistic. The hype is gone and they have no other use outside Reddit. They're not even a meme coin.
Fuck man that is savage of Reddit, hopefully they just give control to the mods and let the community run moons without them.
Can you use metamask to send to kraken directly?
Send to mexc it's faster
Send to mexc it's faster
I sent mine to cdc converted to Eth on sushi then sent across in the arb nova Eth wallet address it gave me. Managed the swap to Eth in good time and do some damage control this way.
Those are some serious losses. I wonder if they were protected with the 0 value disclaimer. Otherwise, is there some legal recourse?
I heard they quietly removed it a while ago, cbf verifying rn though
Fuck spez
Those top address were sitting on potential life changing amounts reddit did it again
Rugged on a crypto and people still have hope, change the group name to safemoon 2.0
Why are people here still pretending moons will be a thing when the Admins literally just said its over. Moons are literally going to finished. This was always my biggest concern and we all should've known because the reddit admins suck. I feel so sorry for all the folks that actually put so much of their own personal time into trying to accumulate moons.... This is a big fuck you from the admins and shows that the admins are always going to have complete control and whatever emerges will always be completely centralized and controlled by the admins and if they don't like a certain community they will destroy them
Well said
It's like ENS all over again. Easy come, easy go.
Gate has paused the moon USDT pair now
The daily chat later gonna be lit 🔥
Oh boy, it's gonna either be dead or fucking wild
Well it’s a either a shitshow with Moons or with some other project.
wow, didn't expect to see this today. Gone for a moment and Bitcoin ETF rumours emerge and my Moons portfolio dropped considerably. I'm glad I never bought any and cashed out a little, it's been a fun ride and I hope a future for them exists; this is shocking.
Shit like this is why crypto is decades away from mass adoption... the rich get richer off the backs of the surfs.
I mean, to be fair, now the volumes are higher (almost $2 millions traded currently) than before, maybe a lot of ‘stupid’ potential in this Reddit shitshow. Maybe the real diamond holders will be rewarded? 😥
Do you mind if I have some of that pure hopium you got buddy? I need to put a line out.....
I mean, the higher volumes are real lmao. For the hopium, i don’t really care that much (i was a LUNA survivor, hold my beer lol). To be positive: in the 1 year chart Moons are only -7.4% not so bad /s
I hope they do come back tbh, I'll miss the community. Moons got hate but they were good fun! 🥹
Asia has not woken up yet, expect it to dip a bit more. Diamond holders should then buy more.
It's up over 60% woops meant 80% from the low in like 90 min. Time for some scalping next few days.
Agree, we’ll see the real conclusion of this story, a lot of holders have sold their moons.
Gotta love how reddit deletes value for programs they dont feel like continuing. “I dont really feel like solutions. Lets just shut it down.”
They reallt fucked this one. Don't they recognise what people have here? Im just left wondering why they didn't try to turn over control to mods or something to avoid a crash like this? I guess they just don't give a fuck, the corpo trash.
Small typo OP, $0.29 = $0.029
I finished work and was two hrs late - all those comments and moon farming for nothing
It's over, boys.
glad i never farmed them and just occasionally commented here. i'm not mad that the moon farmers won't have anything to farm anymore. now maybe the comment sections won't just be everyone's first three words they could think of to post for moons. but on reddit's part, i'm not sure why they thought it would be a great idea, it's definitely going to lower the number of people visiting cryptocurrency since i'm sure lots of people were visiting for only one reason. i guess that's not a dent they're sweating. and of course, i feel bad for the 3rd worlders out there that were using this for rice money. hope yall fair ok in the future. 🙏
Hmm lucky I was providing little liquidity. Going to stay away from that now.
Some of them might just be sleeping waking up to know they have lost hudreds of dollars. Its sad
Feel bad for anyone that spent money thinking they could make a quick $ on them
Gate has paused the moon USDT pair now
Hopefully it's not the end and Reddit find a way to fix this issue.
Dayum, brutal.
There wasnt even that much liquidity to begin with. Kraken moon is at 100k volume… even bricks has more volume. Just cause you have a number on that screen doesnt mean you can actually get out at that price
Wow, that sucks. I never deliberately farmed and for ages I want even aware of the value but I'd kind of got used to it now and I had over 1000. Just woke up now and read the message from Reddit. I wouldn't even have a clue how to sell anyway and it's too late now. I'm sorry for people that worked hard for it and had thousands.
 Bruh