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🤡 The Terra blockchain was officially halted at a block height of 7603700. lcd.terra.dev/blocks/latest Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack.twitter.com/terra_money/status/1524785058296778752?s=21&t=EEB8N0avW6BWGIBJY1101w
54 sats \ 9 comments \ @UlfMoby 12 May 2022 bitcoin
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Bitcoin CEO Satoshi "We Are All" Nakamoto responds: "Tick tock, next block."
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0 sats \ 1 reply \ @cryptocoin 13 May 2022
UPDATE
The Terra blockchain was resumed after a patch, about an hour later.
Then about 8 hours after resuming, there was this:
The Terra blockchain has officially halted at block 7607789.
Terra Validators have halted the network to come up with a plan to reconstitute it.
More updates to come.
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0 sats \ 0 replies \ @cryptocoin 13 May 2022
And, ... it's gone!!
Likely for good.
Arthur Hayes (BitMEX) just put out another great post, and timely as it is about stablecoins, mostly relating to Luna / Terra, and is worth a read:
The death spiral is no joke. This is a complete confidence game. It’s a confidence game akin to the current debt-based fractional banking system; however, this game does not have governments who can coerce usage of the system with the threat of mortal violence.
Luna Brothers, Inc. | Arthur Hayes #27930 https://cryptohayes.medium.com/luna-brothers-inc-712ec5abe199
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0 sats \ 1 reply \ @Coinosphere 12 May 2022
It ded.
What bothers me is that it's bagholders/fans are apparently so unbelievably stupid that they're still trying to make it go up again rather than bothering to go find a better coin.
The world is absolutely full of idiots that support scams. Anything honest and rational is like bug repellent to these fools.
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0 sats \ 0 replies \ @2big2fail 12 May 2022
welcome to the world of finance...more than half of the people on wallstreet are like this
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0 sats \ 0 replies \ @TheBTCManual 12 May 2022
LOL so they called the guys at Solana, to ask how you turn a blockchain off and on again?
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0 sats \ 0 replies \ @random_ 12 May 2022
What's Terra?
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0 sats \ 1 reply \ @kilianbuhn 12 May 2022
The BC was halted??? This is the most centralized anti-user shit I ever heard.
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0 sats \ 0 replies \ @avg 12 May 2022
I believe there were only 130 validators on Terra last time I checked - plausible that they coordinated this. Mind boggling that greed made people use such a system.
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