4 ms·

“Analysis from the company shows that 52,189 bitcoins were moved to a single account at crypto exchange Gemini” Oh yeah sure they saw their coin going to s*%t

“Analysis from the company shows that 52,189 bitcoins were moved to a single account at crypto exchange Gemini” Oh yeah sure they saw their coin going to s*%t and thought “yeah let’s just throw away a couple billion dollars just so people won’t think we are scammers”. Sure. The Vatican has started a process to canonize these saints.

vmception 4y ago
uh yes exactly? thats the only reason they bought the bitcoin in the first place Terra Luna was already stupid enough, its stupid to make this part controversial because that was the purpose of this collateral, just as its stupid to not believe the bitcoin was sold after transfer to the exchanges (many people believe that its still owned, or was given to some whales to bail just them out, or the founder keeps it for himself) https://bitcoinist.com/terra-luna-will-buy-10-billion-worth-of-bitcoin-heres-why/ https://bitcoinist.com/terra-luna-will-buy-10-billion-worth-... https://www.bloomberg.com/news/newsletters/2022-04-19/crypto-news-do-kwon-of-luna-terra-fame-has-10-billion-bitcoin-plan https://www.bloomberg.com/news/newsletters/2022-04-19/crypto...
- stingraycharles 4y ago
  I know that it’s the plan, do they have any evidence (like transaction ids) that it actually happened? I haven’t followed this a lot but from what I gathered there’s not a lot of transparency around this. If so, why not?
  - vmception 4y ago
    There are transaction IDs to the exchanges There wont be transaction IDs after that because its not onchain You and the community could ask for an audit by an accounting firm like Deloitte, like the rest of the business world uses, itll come out a quarter or two from now leaving us all in exactly the same spot for now. The transparency expectations make almost no sense or lack inspiration.
    - jtbayly 4y ago
      Please explain why I should believe that the money was used for this purpose in a field where every other example I can find is a scam. It seems incredibly unreasonable to assume that these particular people are goodies, when everybody they are with are baddies.
      - vmception 4y ago
        1) Not everything bad is the same bad thing 2) Try stepping outside of your filter bubble. There are some websites that let you browse the internet within a different filter bubble to see how different it is
        jtbayly 4y ago
        I see you haven't given a single reason to think this actually happened. I suppose there must not be one.
        vmception 4y ago
        Alright. Fine, I'll concede its fine to be skeptical of their actions, I just don't care enough because of the other bigger ways that it doesn't make a difference for the burned user. Okay, people are out for blood from someone they trusted that did a bunch of dumb things extremely transparently while undiscerning users chose to ignore that. So they want to find a bad opaque thing now to justify their anger and legal or extrajudicial retaliation, which won't help any recovery of assets whether the opaque thing was bad or done properly. Interesting season arc. I guess. It would be way more interesting if it was used to bailout whales or pocket for himself.
        codebolt 4y ago
        > difference for the burned user They could've used the money to reimburse UST holders at the time the peg was broken.

vmception 4y ago

uh yes exactly? thats the only reason they bought the bitcoin in the first place Terra Luna was already stupid enough, its stupid to make this part controversial because that was the purpose of this collateral, just as its stupid to not believe the bitcoin was sold after transfer to the exchanges (many people believe that its still owned, or was given to some whales to bail just them out, or the founder keeps it for himself) https://bitcoinist.com/terra-luna-will-buy-10-billion-worth-of-bitcoin-heres-why/ https://bitcoinist.com/terra-luna-will-buy-10-billion-worth-... https://www.bloomberg.com/news/newsletters/2022-04-19/crypto-news-do-kwon-of-luna-terra-fame-has-10-billion-bitcoin-plan https://www.bloomberg.com/news/newsletters/2022-04-19/crypto...

stingraycharles 4y ago
I know that it’s the plan, do they have any evidence (like transaction ids) that it actually happened? I haven’t followed this a lot but from what I gathered there’s not a lot of transparency around this. If so, why not?
- vmception 4y ago
  There are transaction IDs to the exchanges There wont be transaction IDs after that because its not onchain You and the community could ask for an audit by an accounting firm like Deloitte, like the rest of the business world uses, itll come out a quarter or two from now leaving us all in exactly the same spot for now. The transparency expectations make almost no sense or lack inspiration.
  - jtbayly 4y ago
    Please explain why I should believe that the money was used for this purpose in a field where every other example I can find is a scam. It seems incredibly unreasonable to assume that these particular people are goodies, when everybody they are with are baddies.
    - vmception 4y ago
      1) Not everything bad is the same bad thing 2) Try stepping outside of your filter bubble. There are some websites that let you browse the internet within a different filter bubble to see how different it is
      - jtbayly 4y ago
        I see you haven't given a single reason to think this actually happened. I suppose there must not be one.
        vmception 4y ago
        Alright. Fine, I'll concede its fine to be skeptical of their actions, I just don't care enough because of the other bigger ways that it doesn't make a difference for the burned user. Okay, people are out for blood from someone they trusted that did a bunch of dumb things extremely transparently while undiscerning users chose to ignore that. So they want to find a bad opaque thing now to justify their anger and legal or extrajudicial retaliation, which won't help any recovery of assets whether the opaque thing was bad or done properly. Interesting season arc. I guess. It would be way more interesting if it was used to bailout whales or pocket for himself.
        codebolt 4y ago
        > difference for the burned user They could've used the money to reimburse UST holders at the time the peg was broken.