Bitcoin CEO Satoshi "We Are All" Nakamoto responds: "Tick tock, next block."
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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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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.
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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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welcome to the world of finance...more than half of the people on wallstreet are like this
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LOL so they called the guys at Solana, to ask how you turn a blockchain off and on again?
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What's Terra?
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The BC was halted??? This is the most centralized anti-user shit I ever heard.
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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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