Sellium

#Crypto Second Life!

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Fortuna Iuvat.

[Sellium @Sellium1]

Complete the #Binance #CryptoLover test and win a $500 Binance gift card to celebrate Valentine’s day with your beloved! https://t.co/ZSbpGo4uR3

[Sellium @Sellium1]

😎

[PlanB @100trillionUSD]

So all FTX "bitcoin" buying did not effect BTC price!

Imagine if all FTX BTC demand would have gone to real bitcoin...

The good news: all future BTC demand will go to real bitcoin.

[vitalik.eth @VitalikButerin]

@sassal0x @technocrypto Agree hard on this, with the one quibble that "algostable" has become a propaganda term serving to legitimize uncollateralized stables by putting them in the same bucket as collateralized stables like DAI/RAI, and we need to really emphasize that the two are very different.

[Sellium @Sellium1]

This too shall pass, just learn from it...
$LUNA $UST #Lunacrash #USTAttack #LUNAtics
https://t.co/wiGHksKs25

[Sellium @Sellium1]

@cz_binance #Binance should have suspended it 2 days ago when it dropped more than 90%… or weren’t you watching the dead show?

[Sellium @Sellium1]

So, the conversation topic today is:
How much have you lost on $LUNA and/or $UST?

[Sellium @Sellium1]

If you still dreamed of some sort of miraculous recovery, Binance is about to DeList $LUNA, from where I see it, it’s game over for logarithmic backed #stablecoins #LUNAtics, time to move forward… 🥹

[Binance @binance]

Updates:
🔸Notice of removal of some margin and spot trading pairs at 12:40am UTC, May 13, 2022.
🔸Adjusting of tick size for spot trading pair at 12:40am UTC, May 13, 2022.

https://t.co/jijqNqaTdJ

[Sellium @Sellium1]

To mint UST, a user must burn an equal amount of LUNA (e.g. burn $1 of LUNA to mint $1 of UST).

To exit the system, a user can redeem their UST for a commensurate amount of LUNA.

So one exits the system by redeeming UST and minting LUNA. If everyone exists at the same time.. 💣

[Sellium @Sellium1]

Sorry kid, you’ll have to go to community college… $LUNA #LUNAtics

[Sellium @Sellium1]

@simon_bloomer @Mak_Anthony1 @cudihairs @WatcherGuru To mint UST, a user must burn an equal amount of LUNA (e.g. burn $1 of LUNA to mint $1 of UST).

To exit the system, a user can redeem their UST for a commensurate amount of LUNA.

So one exits the system by redeeming UST and minting LUNA. If everyone exists at the same time.. 💣

[Sellium @Sellium1]

If it happens it will be interesting to watch the least… 😅

[CoinMarketCap @CoinMarketCap]

Terra Foundation passes proposal to restore the UST peg. Meanwhile, $LUNA continues to plummet in value 📉

Many crypto analysts doubt the plan will work ❌
https://t.co/pS1zXOGrsf

[The Crypto Lodge @elcryptolodge]

Nevin Freeman (@nnevvinn) from Reserve (@reserveprotocol) talks about the dangers of algorithmic stablecoins like Terra and Celo at @laBITconf. $RSR $RSV

[Sellium @Sellium1]

@feelinginmind @Mak_Anthony1 @simon_bloomer @cudihairs @WatcherGuru Easier yet, who is going to buy into a stablecoin that has proven to not be stable? Without TerraUSD adoption/usage LUNA has no purpose and will die out…

[Sellium @Sellium1]

@Mak_Anthony1 @simon_bloomer @cudihairs @WatcherGuru Wishful thinking will not cut it in crypto sir, just do the math.. we’ll be lucky if we see LUNA at $1 again, because for LUNA to reach that $1 means 2841% up from where we are right now… 🤷🏻‍♂️

[Sellium @Sellium1]

@Mak_Anthony1 @cudihairs @WatcherGuru Is this the sign you see? 😂
We were fucked… and the ass is going to keep on hurting for a while… if not definitely…

[Sellium @Sellium1]

@cudihairs @WatcherGuru Well, I guess you’re not alone, the small pump yesterday was a pretty good bull trap if you were trying to minimise your losses, I wish I had only loss $2000, that is a easy recover… 😅

[Sellium @Sellium1]

Humble up, take the lessons learned, raise your head and move on, $LUNA is not going to recover anytime soon, it’s circulating supply was increased 4,5x, diluting it severely, and $TERRAUSD still has not recover its 1$ peg, so hard to trust it ever again… #LUNAtics #YouWereKwond

[Sellium @Sellium1]

@TrustlessState TerraFOL, LUNAster, Kwon’d, FaiLUNA,