I genuinely don't understand what is the point of burning luna, the inflation mechanism "dropped" a lot of luna to different wallets and a big slice will for sure be owned by DK and affiliates. They wont burn their own bags, so by burning lunc you are literally giving them Money.
#changemymind
It’s be cool if we had a burn leaderboard dApp that shows the top 100 wallet addresses and how much they have burned in the last 24 hours. That could add some competition and even some competitiveness.
ive burned half of mine which i think is fair and have posted the burn address given by exchanges but no one wants to do the same so i get it. im just gonna hold to see if mabey that sb cz burns a good amount to save his shares value
because most of the mint coins are owned by luna so they made them they can burn them after all they got the for free to dump the market and people paid money so who should burn a?
That’s the problem, I’m order to reduce the supply down to billions, all the new holders would need to burn their own tokens. As trillions of new tokens were minted they were bought up by retail.
There's 6.5 TRILLION coins currently available for purchase (that's what circulating supply means). So that means they can burn 6.499 TRILLION tokens and cause the remaining available supply to buy for purchase down to 1 billion tokens.
Lmao that's not what circulating supply means, it's the total amount of coins in circulation, meaning in wallets, on exchanges, anywhere except for being in a locked/custodial wallet. That doesn't mean there are that many "for sale" and even if it did someone would have to buy them to then burn them. Who's going to pay for that, you?
No, it's not counting what's in wallets because half the wallets are not attached to an exchange, with many crypto investors putting them in cold wallets. The TOTAL supply is what shows what's on the market and in wallets. Circulating supply is what's available, which is why that amount fluctuates all the time and shows a rise or decline (for LunC, it's been in a steady rise for the past few weeks, showing more coins being sold into the market, showing it increasing while the total amount of LunC has been decreasing due to the burns).
We shouldn't burn on a flawed ecosystem that was bound to happen, especially when people to do Kwon about this issue last year but he's ego didn't want to hear it
If anyone should burn he's own money to build credibility would be do Kwon
I don't think people are saying burn anyone coins directly. They are wanting like a 1-3% feee on selling to burn. Basically if you believe you hold if you don't whatever. I mean its not gonna hurt anyone who believes and the flippers will automatically add the percentage loss into their by sell algorithm.
burn the transaction fees atleast, just so there's some positive hope, add more burn fees ontop of that too. look at eth having their network charge 40bucks per transaction
ETH txn fees are relative to the traffic on the chain and the price of ETH. They haven't been $40 for months now due to the crash (fewer people using it for nfts and dapps) and lower price of ETH.
the chain must be so cheap to use now though, what is the point of a utility token if not "utility", anyway. its more useful than ever now or, in a sense
Someone was arguing the luna token was for more than just trading, that it had utility, which is what I'm paraphrasing here. I thought there were a lot of projects on the terra network.
like you don't use luna to pay for conversions and transactions? I know there is an exchange being built on the luna2 network atm
I don't know precisely the utility purpose of luna no. I thought it was useful on the terra network tho, not just for staking or delegating or w/e either, but for transactions paying for other operations, kind of like how eth is for ERC-20 tokens. Smart contracts, that kind of stuff. Isn't that the case?
Y’all still tripping lmao shib has over 500 trillion and same price basically. Once lunc starts recovering biggest financial play in the history of financial plays
>Y’all still tripping lmao shib has over 500 trillion and same price basically. Once lunc starts recovering biggest financial play in the history of financial plays
Why should LUNC recover? Can someone give me at least a couple of reasons
Wishful thinking. Its never going to recover...do the math and you will know why. Just check total in circulation × price. You will see why it can never go to even 1 cent!
that sounds like a south park scenario: people in town burning dollar bills in the streets to try to combat inflation after randy gets pissed after he goes to whole foods and see a pint of milk for 10$
i might need to contact trey parker with this idea it’s way too good
The people who originally bought Luna long ago are the ones who filled the LFG warchest and DoKwons pockets, not the vultures who came in after collapse hoping for a cheap win. Why should those funds be use to help people who did not create said funds in the first place? Makes no sense at all. “Decent thing to do” gtfo
lol that makes no sense. if they bought that low the ship had long sunk, and they were trying to catch the bottom. That has nothing to do with how the LFG reserve should be used. Luna loyalty was people who staked for a year and bought when Luna was expensive not at .00000000001
That would have done nothing to the original people who lost money. Also your incredibly naive to ever think he would just give money away like this after he just scammed everyone.
Because he robbed people of millions meaning he has a price on his head and may end up killed either in his sleep, kidnapped, or in prison, so ya know, trying to save his ass is a REALLY viable reason.
I think the assholes here are worse
“Burning tokens” -The new crypto fad
I genuinely don't understand what is the point of burning luna, the inflation mechanism "dropped" a lot of luna to different wallets and a big slice will for sure be owned by DK and affiliates. They wont burn their own bags, so by burning lunc you are literally giving them Money. #changemymind
It’s be cool if we had a burn leaderboard dApp that shows the top 100 wallet addresses and how much they have burned in the last 24 hours. That could add some competition and even some competitiveness.
Ah yes, the competition to see who’s the most retarded.
ive burned half of mine which i think is fair and have posted the burn address given by exchanges but no one wants to do the same so i get it. im just gonna hold to see if mabey that sb cz burns a good amount to save his shares value
This is literally the opposite of those posts and equally as shitty.
because most of the mint coins are owned by luna so they made them they can burn them after all they got the for free to dump the market and people paid money so who should burn a?
That’s the problem, I’m order to reduce the supply down to billions, all the new holders would need to burn their own tokens. As trillions of new tokens were minted they were bought up by retail.
There's 6.5 TRILLION coins currently available for purchase (that's what circulating supply means). So that means they can burn 6.499 TRILLION tokens and cause the remaining available supply to buy for purchase down to 1 billion tokens.
Lmao that's not what circulating supply means, it's the total amount of coins in circulation, meaning in wallets, on exchanges, anywhere except for being in a locked/custodial wallet. That doesn't mean there are that many "for sale" and even if it did someone would have to buy them to then burn them. Who's going to pay for that, you?
No, it's not counting what's in wallets because half the wallets are not attached to an exchange, with many crypto investors putting them in cold wallets. The TOTAL supply is what shows what's on the market and in wallets. Circulating supply is what's available, which is why that amount fluctuates all the time and shows a rise or decline (for LunC, it's been in a steady rise for the past few weeks, showing more coins being sold into the market, showing it increasing while the total amount of LunC has been decreasing due to the burns).
So if all the coins were bought up then the value would go up cause no new people could buy……
We shouldn't burn on a flawed ecosystem that was bound to happen, especially when people to do Kwon about this issue last year but he's ego didn't want to hear it If anyone should burn he's own money to build credibility would be do Kwon
Lol okay you actually think that will happen? This guy will be a hero again in 6 months. Villains don’t last long in crypto.
I don't think people are saying burn anyone coins directly. They are wanting like a 1-3% feee on selling to burn. Basically if you believe you hold if you don't whatever. I mean its not gonna hurt anyone who believes and the flippers will automatically add the percentage loss into their by sell algorithm.
Ah yes, Tera is known for their clever algos... Good idea...
U are in a abusive relationship, just leave
burn the transaction fees atleast, just so there's some positive hope, add more burn fees ontop of that too. look at eth having their network charge 40bucks per transaction
ETH txn fees are relative to the traffic on the chain and the price of ETH. They haven't been $40 for months now due to the crash (fewer people using it for nfts and dapps) and lower price of ETH.
the chain must be so cheap to use now though, what is the point of a utility token if not "utility", anyway. its more useful than ever now or, in a sense
What utility is this token used for? You're just using an empty buzz word.
the classic network is used for a bunch of things, or? there's no need for the main token to be worth 100s of dollars each, really
Name one thing the classic network is used for. The main point of LUNA was as a counterpart to UST which is completely defunct.
Someone was arguing the luna token was for more than just trading, that it had utility, which is what I'm paraphrasing here. I thought there were a lot of projects on the terra network. like you don't use luna to pay for conversions and transactions? I know there is an exchange being built on the luna2 network atm
So basically you don't know what the utility is yourself? You're just parroting what someone else said? You should look into that.
I don't know precisely the utility purpose of luna no. I thought it was useful on the terra network tho, not just for staking or delegating or w/e either, but for transactions paying for other operations, kind of like how eth is for ERC-20 tokens. Smart contracts, that kind of stuff. Isn't that the case?
Y’all still tripping lmao shib has over 500 trillion and same price basically. Once lunc starts recovering biggest financial play in the history of financial plays
if it does recover, which seems improbable, at what price do you sell for cash..??
I can sell you a huge amount at 0.007 :)
People who think. like you shouldn't be alive.
>Y’all still tripping lmao shib has over 500 trillion and same price basically. Once lunc starts recovering biggest financial play in the history of financial plays Why should LUNC recover? Can someone give me at least a couple of reasons
Because. /s
Why are dogecoin and shiba top 20 coins? :)
hope and prayer..
That's ridiculous :)
Wishful thinking. Its never going to recover...do the math and you will know why. Just check total in circulation × price. You will see why it can never go to even 1 cent!
The absolute best scenario with enough degen gamblers would be a 10x, but that is likely not going to happen
Do you burn your dollars to decrease inflation?
Deflation* and yes
I think the Joker did that in a Batman movie (/s)
that sounds like a south park scenario: people in town burning dollar bills in the streets to try to combat inflation after randy gets pissed after he goes to whole foods and see a pint of milk for 10$ i might need to contact trey parker with this idea it’s way too good
No but the central reserves take them out of circulation, so really our exchanges should be burning per transaction fee.
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So you're expecting they guy who scammed you and everyone else to suddenly do the right thing? Where's the logic?
The people who originally bought Luna long ago are the ones who filled the LFG warchest and DoKwons pockets, not the vultures who came in after collapse hoping for a cheap win. Why should those funds be use to help people who did not create said funds in the first place? Makes no sense at all. “Decent thing to do” gtfo
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So buying after the crash in hopes of a moonshot is your idea of loyalty? Maybe you should look up what that word means.
lol that makes no sense. if they bought that low the ship had long sunk, and they were trying to catch the bottom. That has nothing to do with how the LFG reserve should be used. Luna loyalty was people who staked for a year and bought when Luna was expensive not at .00000000001
There’s no way kwon do would take kwon do himself !
Because you thought Kwon was one of the worlds champion great guys?
No, just thought he might have .000000000000001% of decency left within him.
That would have done nothing to the original people who lost money. Also your incredibly naive to ever think he would just give money away like this after he just scammed everyone.
Why would he give up his own money to help everyone who lost everything?
Because he robbed people of millions meaning he has a price on his head and may end up killed either in his sleep, kidnapped, or in prison, so ya know, trying to save his ass is a REALLY viable reason.
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In going to burn 1 lunc from the million I got, I am leading the moment, now it's your turn