After the disastrous collapse of the LUNA cryptocurrency and the UST, which eventually affected the price of Bitcoin and other cryptocurrencies, the project is ready to launch its “renaissance” dubbed Luna 2.0. While some believe the idea, others’ faith in Terraform Labs is “stupid” stuff.
Billy Markusthe founder of Dogecoin, who uses the nickname Shibetoshi Nakamoto on Twitter, responded to the recent news of the introduction of Luna 2.0. Billy, who jokingly created a cryptocurrency, has criticized projects such as Bored Ape.
The founder of Dogecoin spoke on his social networks that he believes that moon 2.0 will be a good indicator of the investors existing in the cryptocurrency market.
“Luna 2.0 will show the world how stupid cryptocurrency ‘gamblers’ really are.”
luna 2.0 will show the world how stupid crypto gamblers really are
— Shibetoshi Nakamoto (@BillyM2k) May 25, 2022
“gamblers”
“Cryptocurrency gamblers” are those investors who adopt casino tactics for their investments, always “bet” on which cryptocurrencies may or may not rise, buy different altcoins in the hope that one will appreciate them in a parabolic move and make a big profit will make. with a low investment.
The same is happening with Luna 2.0, as many think it will appreciate in the coming months. Some bet on values as low as $100, after all, “will it go up?”.
The Orbital Command website announced on Twitter that the LUNA 2.0 testnet is up and running. The validator said the mainnet launch is scheduled for May 27, the event that would officially launch the new Luna.
The original token of the new luna will be $LUNA and investors who own the current LUNA and bought it before the collapse are eligible to receive the new token.
“stupidity”
The creator of Dogecoin considers it complete “stupidity” to trust a project that he believes has “more holes than Swiss cheese”.
There have been a number of conspiracy theories about Terraform Labs and its founder following the cryptocurrency crash, including a video of Do Kwon discussing a “kill switch” that would allow Terraform Labs to burn all Luna coins within 24 hours.
Do Kwon, who is under investigation by South Korean authorities, is currently missing and cannot be found in his home or office. As the investigation progresses and public opinion around the founder is quite negative, exchanges appear to be supporting the cryptocurrency.
Cryptocurrency exchange Huobi has announced that it will list LUNA 2.0 once it launches to support Terraform Labs’ recovery plan following the collapse of TerraUSD and the Terra (LUNA) token.
Meanwhile, Binance, the world’s largest cryptocurrency exchange, said it will support and coordinate efforts with developers on Earth to launch the new token.
The founder of LUNA announced his recovery plan for the Earth’s ecosystem, which essentially involves creating a new, updated Luna blockchain without the UST stablecoin, and a reallocation of all tokens. The proposal has already been approved with 65.5% of the votes.
The problem is that not only does the project lack confidence, but Terraform Labs and even its founder, Do Kwon, have problems with the authorities. Therefore betting on Luna, even if it has a low value, may not be the best idea.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
