I just bought Luna.

I already bought Luna yesterday at about 30 bucks. Am 95% down and I bought Luna today for about 3 bucks. I never touched Luna before… now I did. The current situation just seems like a total overreaction from the market. Too many people used loans to put into Anchor or whatever. I’ll continue buying more if it further dips.

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49 thoughts on “I just bought Luna.”

  1. Update: UST is now 0.31, and Luna fell under $1. OP is probably rubbing his hands together at this amazing buy low opportunity.

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  2. Good luck when an estimated 400M LUNA will be minted per day (increasing by the hour btw) that are going to be sold immediately

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  3. Someone posted this in another thread, and i think it’s good advice.

    «Dont run into burning buildings looking for treasure»

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  4. The tokenomics for Luna was pretty smart. The problem was Do-Kwan bragged about what his intentions were regarding the 4-pool and worst when he was going to do it.

    A whale capitalised on it.

    Probably the most expensive tweet ever sent and a lesson in hubris (disclosure: invested in Terra Ecosystem)

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  5. You’re an idiot. Your providing liquidity for others to sell off their Luna. Right now Luna is being minted at breakneck speed, it’s inflationary and it will only be worth less.

    Calling this “an overreaction” shows you haven’t a clue what’s going on here.

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  6. I am assuming you understand the relationship between Luna and UST…

    So what was your rationale for seeing the Luna pump from the UST crash and thinking buying $30 Luna was a good idea? ( Genuinely curious)

    Edit: if anything you should have bought UST not Luna, if you think the project can survive this…. You just gave your money away.

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  7. I bougth Lehman and Enron, i guess we all have to learn from our mistakes. You have to ask yourself what you know better than the rest of the market. Not your feelings that it’s oversold, but what factually makes you believe the value is higher than what it’s currently trading at.

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  8. You truly do not understand what Luna is/was if you think the market is overreacting. It is designed to go to $0 at this point.

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  9. If still confident in the ecosystem would better off buy UST than LUNA, at least before UST regain it’s peg

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  10. I’m sorry to tell you I think this is a really bad idea. I wrote a paper one month ago predicting exactly this sequence of events. Here it is in case you are interested.

    [https://medium.com/@philberent1/why-the-terra-luna-protocol-will-almost-certainly-fail-ca9d3e9b3662](https://medium.com/@philberent1/why-the-terra-luna-protocol-will-almost-certainly-fail-ca9d3e9b3662)

    If you agree with what I say in this it really has nowhere to go but down.

    I would cut your losses and get out if I was you.

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  11. UST is probably dead unless they pull a DAI and prop it up with a centralized stablecoin… which goes against the whole point of UST but at least makes it a functional token.

    Terra/LUNA is an entire blockchain. A lot of the TVL was in Anchor which is directly related to UST but there’s still dozens of other applications there. I think the token can recover eventually. Maybe it’s best token price days are behind it but it can probably worth more than where it’s headed because of the depegging.

    Who knows though. Fantom and Polygon are similar sized chains and their token is worth less than a dollar [Edit: and they peaked at less than $5 during a frothy bull run]. Sub $1 could very well be the natural market price for LUNA.

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  12. Dude, Luna has to go to Zero! You can buy UST for $.60, convert into $1 worth of Luna and sell it on open market. UST will be burned for LUNA until LUNA hits 0.

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  13. if you actually believe in the longevity in the project why not buy UST until peg then cash out, (30 cents til peg that’s a hefty 50% upside) and then buy into Luna at the bottom?

    Their plan is to dilute Luna to pretty much pennies to restore the peg so you’re much better off going down that route waiting until the dilution is fully realized.

    https://agora.terra.money/t/proposal-help-ust-pegging-increase-estimated-minting-capacity-to-1200m/6287

    edit: if the peg doesn’t work then Luna is worthless anyways since UST as a stablecoin will be a failed project…

    The only hail mary the team is going for is getting UST pegged right now. They don’t care about the price of Luna

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  14. The way that UST stabilizes is that LUNA is minted and used to buy UST. It’s effectively taking market capitalization out of LUNA and putting it into UST.

    The problem now is that UST needs to return to $18 billion to regain peg, and is at $8 billion, a $10 billion deficit. You can’t fix that problem by taking market cap out of LUNA and putting it into UST, because LUNA doesn’t have enough market cap: its total market cap is <$1 billlion.

    The LUNA experiment has failed, and it’s not coming back without some influx of outside capital, which would effectively be a restructure of the whole LUNA/UST concept.

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  15. The amount of people that think they’re so smart to buy Luna at $30 or $10 or $5 just because “I’m buying the bottom” is unbelievable. Like do y’all not read the news? Luna not dumping cuz bear market, it’s dumping cuz it’s fundamentals are screwed!

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  16. Buying the dip I see? Why not spread your bag around instead and get on the hype with these NFTs, I heard GamiFi is launching this cool platform FOMO Labs and they have Mr. Bean NFTs, That alone is enough for me lmao

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  17. You think people will trust it again? I kind of did the same thing with Concordium’s CCD but they didn’t crash or anything, price just went a bit lower than what I originally bought at. Have big faith in the project as they are a regulation friendly layer1 with a great use case and have a great team behind them. With Luna I’m not so sure

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  18. I dumped all my LUNA for XPRESS at $45 few days ago when I heard the new, maybe I will buy back when it gets to 0.5, but for now, part of my funds are still in XPRESS staking pool while others are on USDT

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  19. Looks like Luna will be turning into a meme coin with millions minted per day . The arbitrage mechanism mints luna unless UST goes back to $1

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  20. I bought some at 1$. And as in some I mean as chunk change that won’t affect nothing. I’ll leave it on my wallet and forget about it. Don’t get emotionally attached to your investments. Luna is dying. But you never know.

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  21. You probably want to go and do more research on do kwon (the founder of this project) and on algorithmic stable coins in general, this is a historical crash of unstable protocol watch out what you buy.

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  22. From perspective of someone that doesn’t no defi to good and didn’t invest in it. It’s financial piramid that is not backed with real money at the bottom. It’s crypto over crypto. Every financial system is fp and can go down ,even bank or country. But they have real money or gold,oil, other things to back it. In defi crypto back crypto. It’s dieing an we shall see if anything servive.

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  23. I might be an idiot. But with that upside potential, I might be better off buying now. And UST at 0.7 again, Luna is keeping the line too

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  24. just hope people don’t try redeeming UST for LUNA in a death spiral… the custom AMM logic on Terra doesn’t help this situation at all. Titan went from $1.00 to $0.00000001, with the same economic model. If UST wasn’t redeemable for LUNA I would be buying the dip really hard right now

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