Dont buy Luna

Updated

Hello this should be obviouse but there seem to be alot of people still buying Luna for some reason.

1. Dont look at Luna´s USD price, look at the marketcap.
Its currently again at 1,5B when it should be 0.
1.5B is 1/25 of the Luna marketcap when it was at 100$+...so "only" 25x in usd price would mean luna is back at ATH.

2. As soon UST redemption is enabled again the price will get stomped again as UST holders will convert into Luna and this will press price down to 0 again.

3. There´s still 11B USD "Debt" in form of UST waiting to get dumped in the form of Luna

In a metaphor to classical stocks buying into Luna rn would be equivalent of buying a company at 1.5B marketcap with 11B USD Debt...not a good deal.

DYOR and if you have questions about Luna feel free to ask as i think i have a good understanding of the matter.

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News on Monday:
Terra has already spend nearly everything from their treasury.
UST just went from undercollateralised to not backed at all.
Expecting UST to go to 0 soon just like Luna did.

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People who bought "low" and are now pushing for a Burn of the little assets left in LFG Fund just to pump their bags while leaving the rest of the UST holders with nothing: FUCK YOU. You should be ashamed.

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without a reasonable usecase Luna 2.0 is just another Ponzi, dont fall for it (again)
Do Kwon is a Fraud, just being dumb is no excuse at this point.
He should be in Jail not behind another "project".

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Unlike buying the bottomless Pit of Luna, buying UST makes more sense.
This is a gamble setup i would be willing to take, longterm target of both is still 0.
DYOR!

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As far as i understand UST to Luna swaps will get enabled in as soon as 19 hours according to this proposal: station.terra.money/proposal/1299
Not sure if they will wait until the snapshot on 27/05/2022 to enable this again or if they already will nuke the Luna price to 0 in 19 hours.
If i would be a luna holder/speculator/gambler one propably should get ready for the worstcase.

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actually using "gamblers" as exit liquidity for UST converts is somehow fair, play stupid games, win stupid prizes..

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station.terra.money/proposal/1164 Selling pressure will be 4x the selling pressure we had recently. when this gets confirmed..definitely a buy..not.
Are Luna gamblers aware of this? propably not.

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if they could read, they would propably be upset xD

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to be clear how the Luna mechanism works in theory:
everybody can buy 1 UST (paying currently 0.06 dollar per UST) and can mint 1$ worth of Luna (currently 5000 Luna). So in theory people can buy 5000 Luna for 6 cent. In practice price will go down while they transfer it to an exchange but still there´s a big incentive to mint new Luna, Supply will go up dramatically until 11B UST left by minting Luna. Luna is dead and wont pay all that 11B Debt.

The only reason we are currently not crashing is because the Minting mechanism is halted. 1 hour after it will be enabled again, your gamble will be worth zero.
Just so people understand the risks of buying Luna.

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messari.io/asset/terrausd/chart/sply-circ
UST Supply: This is the metric to watch if you wanna bet on a Luna reversal.
Luna isnt even halveway though the selling pressure...

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Luna low to correction high is same % as dogecoin from 2020 corona crash to ATH...crazy

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Apes arent Apes. They are Lemmings following the Pump and Dumper willingly.

They did literally buy every top since Gme and Luna wont be different.

Symbio_X

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