#terra luna crypto

[tomorrowusa]

I haven’t mentioned for a few weeks what a shit show crypto is. So let John Oliver do it far better than anybody else can.

I’ll just add is that the only value crypto has is the value that people think it has. As John Oliver put it, it’s totally based on “good vibes”. It’s essentially just digital play money that people buy with real money.  

One of the sketchy crypto characters John mentioned is Do Kwon. He is now in custody in Montenegro – nabbed while fleeing arrest by the authorities in the US and South Korea.

Interpol confirms arrest of crypto fugitive Do Kwon in Montenegro

[dencyemily]

Binance Burns 2.1B LUNC Tokens, Driving Terra Luna Classic Toward 100B Token Milestone for Market Stability

Binance eliminates 2.1B LUNC, near 100B token burn, Terra Luna Classic community, market stability. Terra Luna Classic edges closer to 100B token burn, Binance’s significant 2.1B contribution, key milestone. Community and Binance burn nearly 100B LUNC tokens, united effort, secure Terra Luna Classic’s future.

Binance, world’s largest crypto exchange, executes substantial token burn, removes 2.1 billion Terra Luna Classic (LUNC) tokens from circulation. Latest burn, ongoing effort, Terra Luna Classic community, reduce number of LUNC tokens, campaign on brink of eliminating 100 billion tokens. Initiative aimed at stabilizing token’s value, testament to community’s commitment, project’s long-term viability.

Binance’s recent action, 18th instalment, LUNC token burn series, total tokens incinerated by exchange, over 50 billion. More than half of total LUNC tokens burned by community. Tokens sent to designated burn address, effectively removed from circulating supply. Binance’s move part of broader community effort, contributions from other exchanges, validators, Terra Luna Classic stakeholders, reducing token’s supply.

Terra Luna Classic community collectively burns nearly 100 billion LUNC tokens, milestone, widespread support, token’s stabilization, growth strategy. Average weekly burn rate, 600 million tokens, sustained and coordinated effort across ecosystem. Community-driven initiative, reduced supply, sparked positive reaction in market. Trading volume of LUNC, significant uptick, reported 68.30% increase in last 24 hours.

Market capitalization of Terra Luna Classic, approximately $677.97 million, notable player in cryptocurrency market. CoinGecko reports notable price surge, outperforming global cryptocurrency market, peers in Smart Contract Platform category. Positive price movement, indicative of market’s optimistic response to community’s efforts to burn tokens, enhance token’s value.

Collective endeavor to burn Terra Luna Classic tokens, remarkable example of community collaboration in cryptocurrency sector. Binance’s significant contribution, coupled with sustained efforts of Terra Luna Classic community, highlights proactive approach to token management, market stabilization. Campaign nears 100 billion token milestone, positive market response, increased trading activity, growing confidence in Terra Luna Classic’s potential for long-term success.

[vinctadi]

Cryptocurrency Future 2023 After FTX and Luna!

“CRYPTO IS DEAD - IT’S OVER!!!”

This is what I keep seeing from people trying to scaremonger & spread fud - but even this report from the World Economic Forum disagrees.

Let’s face it, 2022 was a brutal year for Crypto. The winter was expected but the massive peak we all hoped for never came. Then we had several catastrophic events starting with the collapse of TerraLuna, followed by 3AC, Celcius, Voyager, and then the FTX Blow up, each one rattling the market further and further.

2 Trillion was wiped out from the markets - Bitcoin is down 65% from its peak, Ethereum 75%, and many others far more. Frankly considering 5 disastrous events it’s amazing it wasn’t even worse. But we’ve seen these declines before many times, and it always recovers, because the technology speaks for itself.

Let’s not forget, these terrible events were not the failure of Blockchain or Crypto - they were the failure of centralized entities behaving badly, like the banks have before many times, and not operating in a decentralized manner akin to Satoshi’s vision.

Regulation will come - and it’s needed - but what we need is more Decentralization - a move to Defi - because I trust computer code a lot more than I trust SBF or Do Kuan. It’s about having a trustless system where smart contracts always deliver.

As the WEF report says “Cryptography and blockchains will continue to be integral parts of the modern economic toolkit”. With 40% of all dollars being printed in the last two years, inflation spiraling out of control, diminishing everyone’s savings and governments juggling uncontrollable amounts of debt, the solution is not endless money printing, it’s Bitcoin and the Blockchain with a fixed supply that can’t get diluted.

2023 may still be a very tough year in the markets, but what 2022 proved is that the technology is robust and the long term outlook is strong for the future of money.

[bigbraincrypto]

Terra Luna Cryptocurrency

Terra LUNA is a Decentralized Finance (DeFi) Blockchain Protocol supporting the ecosystem of users minting, managing, and hour trading volume stablecoins which can be tied to any type of fiat currency. Stablecoins which can be tied to any type of fiat currency. The Terra (LUNA) protocol generates stablecoins that track the lunc price today of any fiat currency using a combination of market arbitrage incentives and decentralized oracle voting. The Terra stablecoin tracks the usd prices of fiat currencies such as dollars and euros, and the Luna is used for governance and mining.

Terra leverages a algorithmic stablecoins basket based on a fiat peg, which is stabilized by algorithms from its reserve currency, Luna classic, to promote programmable payments and the development of an open financial infrastructure. It should also be noted that Terras LONA stablecoin focus allows it to avoid volatility associated with other largest cryptocurrencies , such as Bitcoin and Ether. Terra (LUNA) will proceed without collateralized UST lunc tokens, and it is committed to maintaining Terra ecosystem, which has hundreds of developers working on various decentralized applications.

The aim of the Terra Luna project is to develop a currency that is both profitable and useful. It uses cryptography to provide secure transactions between users without relying on central authorities. To achieve this goal, Terra Luna implements many technical improvements over other cryptocurrencies like Bitcoin. For example, in order to make sure the currency remains secure, its code was written from scratch using top programming languages like C++11. It also works with nodes that use SSL for added security. Finally, it has a multi-signature feature that ensures a transaction can't happen unless more than one user approves it (e.g., when two people are sending money to each other). Because of the many changes made to the currency's code, it is considered a fork of Bitcoin Core. As such, it is developed as a separate project. Terra Luna Cryptocurrency was created by Evan Duffield and other developers. At the time of writing, it uses the Keccak hashing algorithm to secure transactions.

Cryptocurrencies like Bitcoin, Litecoin, and Ethereum are very popular in the world today. Most of us have heard about the cryptocurrencies, and some have even used them. Many have heard of the blockchain technology that they use and how it works, but what is the blockchain? To understand this concept, you must first understand how systems like these work.

Like any other currency in existence today, Bitcoin uses a system to ensure trust among users. It is called cryptology; this process ensures that only those who control private keys can use Bitcoins in transactions. The private keys are used to sign transactions and assign ownership rights to those transactions to guarantee security on the network. The majority of bitcoins are mined by computers solving complicated mathematical problems through a process called mining (similar to mining gold) and transferring them when solving these problems.

LUNA tokens will be distributed via airdrops amongst the stakeholders, holders, remaining UST holders, and the core developers behind Terra Classic applications. The new chain is secured using the Proof-of-Stake consensus algorithm, built on top of Tendermint, where holders of the LUNA token stake their coins as collateral for validating transactions, receiving rewards in proportion to the number of LUNC tokens that they have staked in UST collateral. The Terra protocol runs on the Proof-of-Stake (PoS) blockchain network, in which miners need to stake their Luna coins to mine transactions.

The Terra LUNA protocol has expanded, offering stablecoin luna developers the ability to create Terra DeFi projects. Terra (LUNA) has recently seen some milestones and notable developments that could potentially boost the value of Terra (LUNA) tokens. In LUNA current price live data The current terra price is $1,666,302 apiece (LUNA/USD) with the current market capitalization at $209.83 million.

The value is reached using TerraUSD (UST) using an algorithm powered by smart contracts which will burn the Luna (LUNA) tokens in order to mint new UST tokens. In this scenario, users could purchase 1 UST at $0.995, then use the market-swap function on Terra Station to swap 1 UST for 1 Luna. If the Terra UST token is valued less than $1.00, users can purchase one UST for $0.99, and then burn 1 UST to get $1.00 in the native token, earning $0.01 per burn.

If You’re into crypto:

Visit https://bigbraincrypto.blogspot.com/

[elcopttan]

حرب الكريبتو 🔥 أهم أخبار البيتكوين والعملات الرقمية 👀🍿Bitcoin - Crypto -...

[mgeist]

The Law Bytes Podcast, Episode 149: Ryan Clements on the FTX Collapse and Canada’s Approach to Crypto Regulation

The Law Bytes Podcast, Episode 149: Ryan Clements on the FTX Collapse and Canada’s Approach to Crypto Regulation

The stunning collapse of FTX, one of the world’s leading crypto exchanges, has not only shaken the crypto world but called into question the future of blockchain and digital assets. In a year of repeated failures and crashes, the calls for increased regulation are getting louder. Ryan Clements is a law professor at the University of Calgary, where he holds the chair in Business Law and Regulation…

[cryptotalemedia]

Freeway Insiders Threaten Legal Action Against Crypto Analyst Fatman

Freeway Insiders Threaten Legal Action Against Crypto Analyst Fatman #CryptoTale #CryptoNews #Crypto #Blockchain

Crypto analyst Fatman, who has been keeping a close eye on the Terra Luna controversy, warned on October 22 that Freeway, a platform for staking cryptocurrencies, might be a possible rug pull. The allegations were made right before the platform froze withdrawals and removed team member information from its website. Something Fishy? Formerly known as AuBit, Freeway offers the purchase of…

[bilgikripto]

4400 Kişilik Grup, Her Yerde Do Kwon'u Arıyor!

4400 Kişilik Grup, Her Yerde Do Kwon'u Arıyor!

#lunc #dokwon #luna #terra #ust

[robosucka]

FTX's very bad november

here are some bullet points of the key things that happened to stupid 'it turns out it was never actually a business' 40 billion dollar cryptocurrency exchange FTX this month. very funny please read more!

FTX is the 'smart, legal, pro-regulation' bitcoin exchange (a bank) beloved by athletes and US Senators alike. They are one of the five largest businesses in the crypto space, and are valued at up to $32,000,000,0000 (32B USD). 1b. FTX mints its own token, 'FT Token / FTT', which has a use-case for their advanced trading services as well as serving as a speculative asset that represents consumer trust.

2. FTX establishes a sister firm, "Alameda Research", which acted as its own market actor and research publisher. Alameda Research also have massive resources on their balance sheet.

3. When the Terra / Luna stablecoin disastrously lost its peg to the dollar earlier this year, crypto lost $60B of valuation. Everything fell, but unlike some stuff, FTT recovered. 3b. during this crisis, Alameda stepped in as a 'lender of last resort'; bailing out the liquidity-crisis-shocked crypto businesses by selling them emergency loans.

4. On November 02 (two weeks ago!) Coindesk published an exposé showing that a lot of Alameda Research's balance sheet was, basically, IOU's from FTX - the lender of last resort was a shell game.

5. at this point (i'm hazy on details!) the three FTX founders - "the Crypto King" "SBF"; Gary; and Nishad - start fighting a lot on twitter about something offline, in particular with their competitors Binance, the #1 company in the crypto space.

6. Binance sells all the FTT in its vaults. Billions of dollars' worth?

7. The market value of an FTT drops from $24 USD to $3. (an 87.5% drop in value)

8. 36 hours later, seeing FTX about to declare bankruptcy, Binance offers to buy FTX in a bailout. Binance lawyers ask to see FTX's most secret internal accounting documents. 8b. FTX provides something, which Binance aren't happy with, and Binance backs out of their offer to buy FTX.

9. a "hacker" steals between $300M-$500M USD worth of various coins and tokens from not only FTX's 'hot wallet' (actual liquid funds) but ALSO from its 'cold wallets' (which an outside hacker has no access to). 9b. in transferring these funds out of FTX and into a wallet for Tether (a stablecoin), the "hacker" doesn't have enough "TRX" to pay the gas to actually move the money. so they panic and uses TRX from their own wallet.

10. That wallet was on the Kraken ecosystem, and TRX is for the Tron Network, and both Tron and Kraken have KYC ('know your customer') ID requirements to use their systems, linking the wallet used to facilitate the theft to a driver's license and banking and contact information etc. 10b. the head of security for Kraken posts on twitter "We know the identity of the user."

11. the Bahamaian police (they spent company money on a big poly mansion on the Bahamas and so this all happens there) detain the three FTX founders

12. FTX goes from being worth $30-40 billion USD to bankrupt, nothing, goose egg, kanye voice: couldn't give a homeless guy change, its principals arrested, detained by island police as foreign billionaires, investigated by the Bahamaian money laundering authorities (lmao), investigated by America for the Tether theft (lmfao)

13. lmfao