Terra blockchain was officially halted at a block height of 7603700

https://twitter.com/terra_money/status/1524785058296778752

by 0xedb • 4 years ago

44 22 4 years ago

twitter.com

marban• 4 years ago

Is this the first Circuit Breaker in Cryptoland?

wnissen• 4 years ago

Paging John D. Rockefeller, Mr. Rockefeller, you're wanted on the trading floor.

unmole4• 4 years ago

Exchanges trigger circuit breakers all the time. It's just that they call it unscheduled maintenance.

lvass• 4 years ago

Within the now practically vanished ~40B market cap in the Terra ecosystem, were the hopes and life savings of many poor souls. No matter how bad it looked like in hindsight, they're still human and deserve empathy. For anyone who lost: it's just money, don't let that prevent you from moving on.

I worked as an arbitrageur within Terra for over one year. I'm happy to say I profited by keeping that market healthy. I wish I could have done more, and in pro free-market spirit I don't judge anyone's actions here. This week, I took a hit, but I'm moving forward still. The associated institutions and validators did a great job in this crisis and deserve respect as well, I wasn't even able to keep my full nodes running with all the challenges. Perhaps if we were better market makers in the start, no bank run would happen, but that's in the past now.

worker_person• 4 years ago

It's a giant pyramid scheme. Last one holding gets zero.

unmole4• 4 years ago

deserve empathy

Maybe sympathy sure, but definitely not empathy.

MengerSponge2• 4 years ago

No, it was right the first time. I'm not a crypto bagholder, so I can't sympathize. However, because I can imagine what it's like to be a feckless dipshit I can empathize.

prepend• 4 years ago

It’s sad when scams shut down as innocent people get hurt.

But I think the positive is that things that were clearly never sustainable in the long run, like Terra seems to be, blows up sooner rather than later to limit the negative impact.

firstSpeaker• 4 years ago

I am wondering if this round of collapse and decline will turn to the end of crypto as an asset.

unsupp0rted• 4 years ago

It didn’t the last n times

MerelyMortal• 4 years ago

Some coins like Bitcoin and Monero have utility outside of speculation, so probably not.

Disclaimer: I own some XMR, but not much.

bequanna• 4 years ago

Painful as it is, this is still just a correction. Reverting to more realistic valuations after a period of hyper growth and reckless speculation can hurt but it’s not the end.

gdavisson• 4 years ago

That's the problem, though. What's a "more realistic valuation" for something that has no intrinsic value?

TAKEMYMONEY• 4 years ago

https://www.bitcoinisdead.org/

ferdowsi• 4 years ago

I don't understand. How can a decentralized currency be unilaterally shut down?

andersonpaac• 4 years ago

It does make sense for a committee to halt the blockchain to apply software updates.

jbverschoor• 4 years ago

It was started again

simulate-me• 4 years ago

Production has resumed: https://twitter.com/terra_money/status/1524812171179327488

Terra blockchain was officially halted at a block height of 7603700

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