⛔️ #LUNA is dumping hard to ZERO and this will bring more panic. Stay away from $LUNA which is too risky.

https://www.binance.com/en/support/announcement/dc02bedd65be40f7b10022f26bc06879

Today I further reinforced my bag of $ATOM at $9.55

The future will tell us if I was right or if I got lost in the #Comos!!! 😂💫

Calculations for $UST & $LUNA - #copied

▫️UST has a circulating supply of 12.12B
▫️It has a market cap of $7.4B
▫️To restore peg 12.12B - 7.4B = 4.72B of UST needs to be burned
▫️Terra validators have overwhelmingly agreed that this is what must be done, UST must be burned and peg must be restored
▫️To burn UST (and restore peg), you need to mint new LUNA
▫️To burn 1 UST you need to mint $1.00 worth of LUNA
▫️Let's do some simple math
🔹Say we can burn all the excess UST all at once right now, and restore peg
🔹 To burn this 4.7B of UST we would need to mint $4.7B worth of LUNA
🔹At the current price of LUNA ($0.03), this means we would have to mint ~156B LUNA
🔹In this scenario, the circulating supply of LUNA would increase from 3.5B to ~160B (increase 45x)
🔹The price of LUNA will decrease to ~$0.0006
▫️Now you could in theory begin to slowly burn down that 160B circulating supply of LUNA (does this sound impossible and like a terrible investment? IT SHOULD SOUND IMPOSSIBLE AND LIKE A TERRIBLE INVESTMENT)
▫️The scenario described above is a made up fantasy and is not possible
▫️What's really going to happen is actually infinitely worse
▫️First problem: You can't burn all 4.7B UST at once because you can't mint 156B LUNA at once
▫️There is a limit on how much LUNA can be minted in one day
▫️Right now, they are voting to increase the limit
▫️This leads us to problem #2
▫️Second problem: As you mint LUNA, the price of LUNA goes down (LUNA is diluted), which means to burn more UST, you need to mint even more LUNA, until you descend into a vicious feedback loop of all out LUNA minting madness
▫️This is referred to by validators and people who understand the protocol as the "death spiral"
▫️Right now you can burn $1B UST by minting 33B LUNA
▫️The circulating supply of LUNA goes from 3.5B to 38.5B
▫️The price of LUNA is now 0.0027
▫️You then burn your next $1B UST by minting 1,000,000,000/0.0027 = 370B LUNA
▫️You burned your first $1B UST by minting 33B LUNA. The next $1B UST by minting 370B LUNA
▫️The next $1B UST would take trillions and trillions of LUNA
▫️I used $1B chunks just as an example
▫️Obviously the size of the burns would be much smaller as it depends on UST holders' bags
▫️The point is, LUNA can't recover unless they just decide to fundamentally change how the protocol works, which would result in Do Kwan and everybody else on the project being instantly indicted for fraud.

End of the Drama! 😢

$LUNA $UST

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🔅#Bitcoin Quick Update‼️

▫️7 consecutive red weekly closed candles!
▫️This has never happened before.
▫️The previous record was 6, in 2014.
▫️The current candle of this 8th week just opens in red.
▫️$BTC needs to find a strong support...

Panic on board at the IMF, FED, BCE & all other supranational financial institutions! 😂

This week, 32 central banks and 12 financial authorities (44 countries) met in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in our country.

Banco Central de São Tomé e Príncipe
Banco Central del Paraguay
Banco Nacional de Angola
Bank of Ghana
Bank of Namibia
Bank of Uganda
Banque Centrale de la République de Guinée
Banque Centrale de Madagascar
Banque de la République d'Haiti
Banque de la République du Burundi
Central Bank of Eswatini
Ministry of Finance of Eswatini
Central Bank of Jordan
Central Bank of The Gambia
Comisión Nacional de Bancos y Seguros de Honduras
Direction Générale du Trésor, Ministère des Finances et du Budget, Madagascar
Maldives Monetary Authority
Central Bank of Egypt
Central Bank of Jordan
Central Bank of Nigeria
Ministère de l'Economie, des Finances et du Plan du Sénégal
Superintendencia de Bancos de la República Dominicana
Banque Centrale de Mauritanie
Banque Centrale du Congo
Central Bank of Armenia
Bangladesh Bank
Banco de Moçambique
Bank Al-Maghrib (Morocco)
Bank of Sierra Leone
Bank of Zambia
Central Bank of Lesotho
Central Bank of Liberia
Central Bank of Sudan
Financial Regulatory Commission of Mongolia
Ministry of Finance, Zambia
Palestine Monetary Authority
Reserve Bank of Malawi

https://www.nasdaq.com/articles/president-nayib-bukele-announces-44-countries-to-meet-in-el-salvador-to-discuss-bitcoin

🛑 A year ago in May, the global media announced a total ban on #BTC mining in China, but what about today?

⚡️Well China came back 2nd in the world (21%) behind the United States (38%), and followed by Kazakhstan. 💪🏻

You can see more trading patterns in the Power Tuto Novices channel.

🇬🇧 Decoding the technical analysis, secure your assets, open a trading account, and other info for beginners.

Private invite links:
https://t.me/+R_7-7hTJqonrs8uF

Poll Results: Well done to 26% of voters who correctly predicted the movement of $BTC: no rebound, no fall, but a stabilization around the 30K mark. 💪🏻