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Terra blockchain was officially halted at a block height of 7603700
- marban 4y agoIs this the first Circuit Breaker in Cryptoland?
- lvass 4y agoWithin the now practically vanished ~40B market cap in the Terra ecosystem, were the hopes and life savings of many poor souls. No matter how bad it looked like in hindsight, they're still human and deserve empathy. For anyone who lost: it's just money, don't let that prevent you from moving on. I worked as an arbitrageur within Terra for over one year. I'm happy to say I profited by keeping that market healthy. I wish I could have done more, and in pro free-market spirit I don't judge anyone's actions here. This week, I took a hit, but I'm moving forward still. The associated institutions and validators did a great job in this crisis and deserve respect as well, I wasn't even able to keep my full nodes running with all the challenges. Perhaps if we were better market makers in the start, no bank run would happen, but that's in the past now.
- worker_person 4y agoIt's a giant pyramid scheme. Last one holding gets zero.
- deleted 4y ago[deleted]
- unmole 4y ago> deserve empathy Maybe sympathy sure, but definitely not empathy.
- MengerSponge 4y agoNo, it was right the first time. I'm not a crypto bagholder, so I can't sympathize. However, because I can imagine what it's like to be a feckless dipshit I can empathize.
- unmole 4y agoI can feel pity for someone who suffered a significant financial loss. But I can't imagine being a degenerate gambler and pissing away my life savings with an instrument that makes no sense.
- neither_color 4y agoI feel that way about your average day traders, leveraged buyers and short sellers, but these were largely people who thought they were getting 20%. Not quite degenerate gambler metrics.
- MengerSponge 4y agoI don't know any degenerate gamblers that expect 20% returns
- unmole 4y agoFair enough.
- prepend 4y agoIt’s sad when scams shut down as innocent people get hurt. But I think the positive is that things that were clearly never sustainable in the long run, like Terra seems to be, blows up sooner rather than later to limit the negative impact.
- firstSpeaker 4y agoI am wondering if this round of collapse and decline will turn to the end of crypto as an asset.
- unsupp0rted 4y agoIt didn’t the last n times
- MerelyMortal 4y agoSome coins like Bitcoin and Monero have utility outside of speculation, so probably not. Disclaimer: I own some XMR, but not much.
- bequanna 4y agoPainful as it is, this is still just a correction. Reverting to more realistic valuations after a period of hyper growth and reckless speculation can hurt but it’s not the end.
- gdavisson 4y agoThat's the problem, though. What's a "more realistic valuation" for something that has no intrinsic value?
- TAKEMYMONEY 4y agohttps://www.bitcoinisdead.org/ https://www.bitcoinisdead.org/
- ferdowsi 4y agoI don't understand. How can a decentralized currency be unilaterally shut down?
- andersonpaac 4y agoIt does make sense for a committee to halt the blockchain to apply software updates.
- jbverschoor 4y agoIt was started again
- simulate-me 4y agoProduction has resumed: https://twitter.com/terra_money/status/1524812171179327488 https://twitter.com/terra_money/status/1524812171179327488