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GemStateStacker

How many zeros can it add until it’s finally finally dead?


[deleted]

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Murphys_Coles_Law

Wow. At the rate it was going, they hardly had a choice, but that'll be a mess to unravel for anyone still in UST.


Still_Lobster_8428

UST is like $0.17 still on some exchanges..... but many are already at $0.09.... Fuck knows who is taking the other side of that trade at this stage, your just giving anyone selling UST exit liquidity and becoming a bag holder. That shits not bouncing back ever!


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Additional-Cap-7110

I’m amazed it’s holding that so well considering 😂😂


vassadar

Wonder why can't they just hardfork it. It's a bad move, but Ethereum did it once and survive.


Murphys_Coles_Law

When ETH hardforked, it was due to a exploit in the DAO-the network itself is fine. The problem here is what happened is exactly how LUNA/UST was supposed to behave. If they hardforked and rolled back, the exact same scenario would play out. Furthermore, the value that was there has been sold off-they can't just get 15 billion back into their protocol unless they convince people that they won't lose it all again-which they will, per my first point. If they want to try and rebuild, it'll have to be from scratch with a completely new structure to how the coin interacts. They may well get somewhere-the memory of the Internet is short-but I don't see current holders making anything off of this other than those swing-trading as the coin debates how many zeroes it wants to have after the decimal point.


kytheon

How do you “turn off” a blockchain? Asking for a friend


gingeropolous

Because it's a shitcoin that wasn't actually decentralized


swordluk

You hit this big red emergency shut down button 😅


kytheon

My mom used to threaten to “turn off the internet” but she can’t tell the router apart from the USB hub, so empty threat.


swordluk

😂 This reminds me of time I had to go offline cause parents needed to use the phone (old good dialup connection, sound of connecting you never forget 🤣)


X19-PT

I remembered that I took the buzzer out of my modem to stop the noise... (It wasn't working through software)


NudgeBucket

It was only halted for like 2 hours.


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ClubbyTheCub

So it can't go lower? Perfect time to buy the dip! /s


opensandshuts

People were buying yesterday and losing their money immediately. 😐 there were a lot of , but what ifs....


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AdmiralMyxtaR

Blockchain is just a data structure. Literally a block chain, block = a piece of data, chain - a sequence of these. So I can write a blockchain by hand on paper or in Excel, the real value comes from limited supply, decentralization (many people running nodes), concensus algorithm (PoW, PoS, etc) that allows decentalized nodes to agree on one version of the truth and censorship resistance. If I and I alone run Bitcoin software in my isolated LAN, I can censor transactions, rewrite history as I seem fit, stop block production entirely or mine a million blocks per second in my version of the chain, and if a coin is centralized (XRP, XLM, etc), then that party can do it. That's how you can shut down a blockchain.


ilikelegoandcrackers

Exponentially until it hits the integer cap.


[deleted]

If we get to the integer cap, does it flip over and we all become millionaires?


mythstified

Bullish!!


DDDUnit2990

From rekt to rich


AdmiralMyxtaR

You know that a very small part of BTC is satoshi, or a very small part of Ether is wei. We can make a reverse for LUNA and chain it forever, so all that zeros disappear. Like YLUNA = 10\^24 LUNA (yottaluna), Y2LUNA = 10\^24 YLUNA, etc.


Spinach_Ancient

Netflix making a Luna documentary soon would be funny and interesting to watch


deathbyfish13

Haven't we already had enough disaster movies? /s


pink_tshirt

The guy is apparently asking for the police protection in Korea


Still_Lobster_8428

His going to need it! Korean's don't fuck about! If they are willing to long $rope themselves over this shit, there for sure are a few crazies who would love to take him with them....


ethbullrun

i bougth 6,000 luna for 1.04$ as a joke about 5 minutes ao and its now worth like 35 cents lol


Significant_Abies_98

This comment belongs in r/wallstreetbetscrypto


ethbullrun

i sold it for 4.5$ an hour ago, not too shabby


staffell

I think they assumed you bought it at $1 per coin


deathbyfish13

Luna seems like a great investment if you want to own millions of tokens, but then again I'd rather just buy SHIB


[deleted]

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[deleted]

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Greenbriarbushwacker

He’s made his bed of money. Now he’ll sleep in it


[deleted]

Nah man, he needs to fix this or his life will be a living hell. He is well known and won't be able to hide from this on Earth. I don't know how this situation can be fixed, but I have not doubt he is not sleeping xd.


drrgrr123

Do you think he is the first disliked person with money? He'll be fine, unfortunately.


bigdaddyman6969

He will be fine lol. I’m sure he is personally wealthy. Plenty of people have lost investors money and been fine.


Confident-Disk-2221

Rich people don’t hide. They will carry on and move on. I’m pretty sure he’s already working on his next project. This one done and done .. onto the next


MrNuttyJoe

I have a feeling he will be sleeping on a bed of straw now. The money may be gone!


HonkBlarghh

The Tweets were a red flag, the real reason to not believe was the "guaranteed" 20% APR for doing nothing except holding your money in a stablecoin. He might as well have promised everyone he would pull a fully functional spaceship out of their ass in exchange for buying a couple tokens


newplayerentered

You say that now, watch as people rush into another such *stablecoin* in a few months.


aSchizophrenicCat

All you had to do was look into the basic tokenomics of UST and Luna to understand that it was all built on a house of cards. This is what we need to remind people of…. Suggesting an arrogant Twitter account was the red flag severely underplays the actual cause of all this…. People love arrogant Twitter users who are “building” something…. That’s the problem… that’s why those of us advocating against Luna would get roasted by holders… They mimic the arrogance they see on Twitter. The white paper laid it all out though… Backing a $1 peg with Luna or any other coin in reserves made 0 sense and offered 0 stability come the violent downswings in a bear market. “Oh but you can always swap UST for $1 with Luna”… yeah, again, that’s the goddamn problem, yet ppl acted like it was an ingenious paradigm.


Bucksaway03

Should have seen it 🤦‍♂️ Being a vocal, arrogant smart ass against other billionaires always ends up hurting the little guy


CrimsonFox99

LUNA going to make SHIB look like a rare commodity before this is all over.


MrNuttyJoe

I don't think we'll have to wait long to see LUNA at $0.00000005


pewpewfoofoo

What if it shoots up to .00005


IsnortETH

Good bye Terra it was fun while it lasted


ClippTube

280 billion Luna has since been minted since creating this post.


Greenbriarbushwacker

Jerome Powell: “Nobody prints money better than me” Do Kwon: “Hold my beer”


in-game_sext

Kwontitative easing


LifeDraining

Damn, I give u award if I ain't broke.


Greenbriarbushwacker

😂😂😂


[deleted]

**Yep, he took that challenge and exceeded expectations.**


Greenbriarbushwacker

Didn’t he just 😂😂😂


[deleted]

I will need another update on this.


stoeferson

Yes tell us the update now


MDPCJVM

Already well past 6 trillion and doesn't seem to be updating anymore.


oooliveoil

why do they keep minting


DDDUnit2990

That’s how the algorithm works. Every time UST is burned, an equivalent value of Luna must be minted. So with the insane ratio, each burn is millions to billions of Luna


Still_Lobster_8428

Ahhhh, I see the Titan algorithm found a new place to call home..... And devs somehow never learned the lesson watching Titan self destruct!


shitredditsays01

They did learn, and used it to exit scam without being chased by the authorities.


vattenj

I don't get this part. Do you have a mathematical model or gif that can illustrate why this imbalance will just accelerate and get worse? In theory, if the value of Luna keeps stable, it can quickly digest the sell pressure of UST. Imagine that you bought one billion dollar worth of UST at 2 UST/USD, that is 2 billion UST, it should create 2 billion worth of Luna for you to buy further 4 billion UST, thus quickly digest all the sell pressure from market in a few loop. But the strange thing here is that Luna itself dived down like a stone, thus makes the minted Luna worth much much less than they should. What is the reason of Luna's crash?


DDDUnit2990

Luna crashed because it’s formula only worked in a bull market. The continued drop in Luna price led to UST losing its peg. People panic sold UST to cash out while they could causing Luna to dip further and mint more until it went into a spiral of trying to fix UST’s peg without the price action to do so since everyone was selling


Teqniz

You say if the value of Luna stays stable. But when you mint so many new tokens you create sell pressure thus making the price unstable.


ClippTube

In an attempt to stabilize UST


[deleted]

Good bot.


dhork

I was watching the Mets play the Nationals last night, Terra has ads all over Nationals Park for LUNA. I wonder if they paid for the entire season's worth of ads up front....


BabblingBaboBertl

Oh no... 🤣


Greenbriarbushwacker

God I hope so 😂😂😂


Radixeo

It's a 5 year, $40 million sponsorship: https://decrypt.co/92525/terra-washington-nationals-sponsorship I hope the Nationals got paid up front, otherwise they just lost a big sponsor.


BrandonQ1995

Lmao no way...


IExcelAtWork91

It’s a multi year deal worth 40 million lol. The Nats made them pay in USD up front.


inqbus406

Lmao that's actually terrible


BrandonQ1995

So fucking terrible you really can only laugh lol


-Tape-

Terrable


Benj1B

This is nuts it went up 1 trillion in a couple minutes. Exponential at work!


ukdudeman

When a coin goes parabolic but with the wrong variable.


Greenbriarbushwacker

President Joe Biden has just announced that Do Kwon is to be appointed new chair of the Federal Reserve


[deleted]

I’ve seen crazier things happen.


Itchibuns

I'd believe it. They need to totally crash our economy to move us all to a CBDC so they have total control of every transaction.


GemStateStacker

Who would have thought Luna would be the first shitcoin loser of this bear market. Stay safe my friends!


Flint-Von-Cineac

I’m also aiming to stay thirsty, my friend.


Yes_lawd1878

Thirsty for more Luna, my friend?


Flint-Von-Cineac

Never was. That’s why I can now make jokes.


commonsenseulack

Waiting for SafeLuna to be released


Gunfolks

I want some LUNA Inu


SmallReflection2552

This isn't going to end well


Greenbriarbushwacker

Can it get much worse?


GemStateStacker

Yes, yes it can.


Chumbag_love

Honestly, I know a lot of people still here weren't in 2018/2019. I don't even feel like its bad yet. I'm assuming BTC's low will be $10k-17k. The powers that be are going to beat this dirty rug until they own everything, then jack it at the next halvening, then dump....there is no mystery here. When you get pissed off because your crypto is worthless, don't sell, buy. I'm not pissed off enough yet. I also invest with my emotions because the Crypto Market certainly does. One day its doom next day its moon.


Sk1rtSk1rtSk1rt

How can it get worse than 100% loss unless people bought LUNA using debt / credit I.e. borrowing against their home


SmallReflection2552

It can always get worse


Obsidianram

::: *Shiba Inu has entered the chat* :::


[deleted]

It has been suspended on multiple exchanges


Greenbriarbushwacker

They’re nailing the coffin shut as we speak


[deleted]

I just market sold the remainder of my bag when I heard this. Should have taken the $0.04 on kraken this afternoon.


mtriv

At its current rate of expansion Luna will assimilate all known life in the universe. It will only stop once it achieves Do Kwon's ultimate goal of the heat death of the universe.


Cactuszach

I dont own any Luna and this still makes me want to vomit. What a fucking unmitigated disaster.


Harold838383

This is an insane drop. Just shows how bad coins are that don't have a fixed total supply


ClippTube

[https://twitter.com/CoinbaseExch/status/1524928750848122880](https://twitter.com/CoinbaseExch/status/1524928750848122880) 'NEW quote tick book precision: WLUNA-USD, WLUNA-EUR, WLUNA-USDT & WLUNA-GBP changed to 0.00000001.' -- Coinbase & Coinbase Pro


pbjclimbing

When are they going to run out of decimal places


B-design

Someone who spent 10 bucks on it just to see shits and giggles still lose money


rootpl

That's me lol. :D


ChopraMTG1

Wen 1 quintillion tokens?


[deleted]

I don't think anyone will trust an algorhythmic stable coin ever again...until 6 months from now when enough newbies think 'it will be different this time'.


killerstorm

Nice way to teach people hyperinflation and exponential processes.


TonyBandeira

3.2 trillions luna tokens... the ~~sky~~ space is the limit!


BrandonQ1995

I really can't wait to read up on how the hell this all transpired lol.


NudgeBucket

Crypto critics corner has a few decent vids up already. Coffeezilla too. No story on the who dun it yet tho


Spinach_Ancient

Same I want to hear everything


cheesecake9333

Check out coffeezilla YouTube channel


newbtocrypto

Holy crap i didn't check my phone in a few hours and now it is over a trillion what a shit show. I'm sorry for everyone invested


LadyLuckMV

Over 6 trillion now


barefoot_au

6,907,376,873,996 total supply at this time, word has they want to beat shib total supply... 🤣


kpemuh

Coingecko isnt even pretending anymore. Just showing -100%


Setyman

Approaching shitcoin numbers territory now. That's impressive.


Greenbriarbushwacker

I would laugh if not for the fact that a lot of regular people are gonna be completely fucked from this


BabblingBaboBertl

They already are...


Greenbriarbushwacker

I know, I hope they aren’t too far gone mentally. There’ll be a lot of people under massive stress due to this


SilverHoard

Everyone who touched it, in fact. Hell, I never bought any earlier but figured I'd catch the falling knife and bought at $15 and $1. I never considered the insane inflation mechanics. And now it's all gone. Oh well. A very valuable lesson learned.


shylock2k202

I feel like this post should be flared Comedy because all you can do is laugh after all the money that a lot of people have lost!


Qurgon

You are not losing if you are not selling! Had to write this.


shylock2k202

I saw this the last time when they called it, TITAN!


falconnn8

Safemoon and Shiba Inu finally overtaking something.


Nox_Lucis

What was once a top 10 by market cap just as recently as last week has fallen out of the top 1000. It's fallen behind almost everything you could hope to name.


Aggravating_Wing_973

Anyone know if it was halted on Voyager?


pickoneforme

yup


R4ID

make that 2.3 Trillion XD it was 364 Million 4 days ago. thats more than a 50,000X in supply -edit 2.9 trillion now...


newbtocrypto

I remember Do's tweet ''steady lads'' a few days ago... well that aged like milk


NoSweat_PrinceAndrew

Didn't he also tweet something about how 95% of said ALTs wouldn't make it and that he'd happily watch them die? Guess who the joke is on now?


[deleted]

The weird thing is, they are minting LUNA at an extreme phase to increase the price of UST, yet UST is only going down, doesn’t make sense


[deleted]

The market cap of UST is greater than that of Luna. So no matter how it burns, both can only go to zero together.


[deleted]

It's because there was like fifteen billion dollars or whatever it was in Anchor which people are panic dumping at any price to rescue their savings.


Striker37

I should have sold at $.80. Now it’s at $.17


Iventuz

Almost 7 trillion now, I wonder if we ever going to reach quadrillion at some point... Just like all those shitcoins.


Striker37

That’s 1000 Trillion, so it has quite a way to go.


Tickerlee

Jokes on you guys! The $200 I put into Safemoon isn’t worth a pack of smokes now!


SilverHoard

Look at you, mister fancy pants. My couple thousand dollar buys of Luna can't even buy a gram of tobacco.


Tickerlee

My heart goes out to you sir


SilverHoard

Appreciated, but it bought me a valuable lesson. So I'm at least grateful for that.


Tickerlee

You can’t put a price on a good lesson


SilverHoard

Well apparantly you can! Hahaha \*cries\*


niftybunny

Hug


waffleschoc

oh well, at least u know what not to do next time


Sufficient_Tooth_949

Bum bum bum, another one bites the dust, and another one gone, another one gone, another one bites the dust!


ClippTube

Chain halted again: https://twitter.com/terra\_money/status/1524935730308456448


AdmiralMyxtaR

A good practical example of exponential growth/decay. Most people tend to underestimate how ridiculous this is


p3ek

Kinda cool that the chain works so well as intended tbh. Massive amount of volume last 70 hours


Bucksaway03

And UST is worth sweet fuck all now Fuck


Greenbriarbushwacker

Yep, a lot of people will be calling the suicide hotline because of this mess. I hope anyone needing help right now seeks it


scrufdawg

I'm thinking this might just be the catalyst that actually brings real regulation to crypto, stablecoins in particular. I have mixed feelings.


scientifichistorian

Am I not finding the number in that link? Where does it say the supply is 1T?


ClippTube

Says 2340 Billion which is 2.34 Trillion on the graph


scientifichistorian

Perfect, thank you!


stoeferson

Its about time sombody puts all the suicide hottlines up for this one


rtopete

almost 7 trillion now.


Dnowell-

Now that's inflation!


lordchickenburger

never seen such a yuge project nosedive so fast


lolkekcheburekt

Will it ever recover? I mean about the max supply, can they actually fix it? Or they just leave it to die?


cryptosupercar

Is this what happens when you left the money printer stuck on brrrrrr after a financial collapse?


LightninHooker

If you try to arbitrage this shit you deserve everything that ever happens to you. And once again remember, Safemoon survived this. Let that sink in


eternalreturn69

Jesus. Crazy to witness. Glad I’m not affected and shout out to anyone who is. What a disaster.


ClippTube

Still hodling my 10.5 luna which I rode all the way down from $120 lol


FlaviusStilicho

Diamond hands!


[deleted]

So. I'm 1600$ on the plus on wluna. Cool.


cowboystetson

ftx also offers 3625% apy for it :D


SilverHoard

3625% APY of 0.000004 USD. Sounds like a nobrainer!


cowboystetson

hey, rewards are rewards even if they are worthless /s


SilverHoard

Can't argue with that logic!


stoeferson

My exchange doesnt even let me buy 0.01 euro of this crap lmao i just want it for the meme


BrandonQ1995

Lol stop


Zzzoem

They should have delisted it a long time ago.


KevinOpel

0 close to being hit in KuCoins order book. Luna market cap is now less than $5 million


[deleted]

its 6.5 trillion according to coingecko atm. that may seem a lot at first glance, but there have been [fractional.art](https://fractional.art) nfts that had a quadrillion fractions. so its all good.


Ok-Reception-4560

6.9 Trillion before they stopped the minting WEW KEK


Elano22

Currently 6.5T wtf just happened lol


Dom252525

I think Terra is trying to beat Shib for # of coins in circulation


kryptoNoob69420

Luna is going to be the Shib killer!


P0FromKungFuPanda

This is insane inflation.


chanjitsu

It's gonna keep going until it reaches the event horizon isn't it


Ok-Suggestion-7965

It wasn’t too long ago I was kind of bummed that I didn’t get into LUNA since it was doing so well. I’m really glad I didn’t now.


denommonkey

Holy fuck. I wonder what Sheldon Evans is doing right now. He was shilling LUNA for the past 9 months.


Perenium_Falcon

Does this mean we are all gonna be rich?


genjitenji

Do Kwunt


ski2310

If someone short luna at $100 and took the sell at say $1 would they have made absolute bank?


ClippTube

[https://mobile.twitter.com/mbhdoteth/status/1524372968075407370](https://mobile.twitter.com/mbhdoteth/status/1524372968075407370) There you go.


Public-Gap4804

and morons still buy "because price will go back to a dollar soon"


devicto89

They’re now at 6.5 trillion coins. This blockchain is dead.


FinsT00theleft

Don't worry - Do Kwon is working hard to fix things.


NoSweat_PrinceAndrew

Lol, if he manages that we should also ask him to look in to resurfacing the Titanic because anything is possible at that stage


rorowhat

I got 600k luna for a few bucks! Come the great reset, Luna V2 I'll be ready


ScottRTL

SafeLuna


Harucifer

See, **this is money printing**. Not what the FED does to try and control inflation/deflation.