Remember Do Kwon? The architect behind Terra Luna,

Question

gas_fee_therapist · Accepted Answer

Ah, it's Do Kwon again... I still remember how arrogant he was back then. What’s he doing now?

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Luna’s story is basically a classic case of the "I am right" syndrome, ultimately taught a lesson by the market.

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From 6 billion to zero, that gap... it’s pretty brutal.

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So, the most dangerous thing in crypto is when founders are overconfident; no one dares to say no.

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How many people lost everything when Luna爆雷 (Luna’s crash)? Does anyone still remember?

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Humility > hype. That’s a good saying, but unfortunately, many founders don’t listen.

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Still thinking algorithmic stablecoins can save the world, but reality hit hard.

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Where is Do Kwon now... I think he still seems pretty arrogant?

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It’s unbelievable, a project can go from top to explosion so quickly. Crypto is truly magical.

MysteriousZhang · Answer

That guy's momentum back then... thinking about it now, it was truly incredible. Saying goodbye to 6 billion USD just like that, algorithmic stablecoins are just a joke.

DataBartender · Answer

Tsk, Do Kwon's "I am the chosen one" attitude is really ironic when you think about it... $6 billion collapsing just like that, really hitting people hard and making them face the truth.

Algorithmic stablecoins are essentially a game of pass-the-parcel; insisting on promoting them as a universal solution is truly the ultimate mistake.

WhaleSurfer · Answer

This is a typical "I'm a genius and no one understands me" script... And the result? Still can't escape the laws of physics.

I still remember how Do Kwon used to respond aggressively; now that I think about it, it's a bit ironic.

$60B of dreams vanished overnight, this is probably the best textbook example.

The louder you boast, the harder you fall. Luna's story is written in black and white in the crypto blood and tears history.

Algorithm stablecoins are essentially a Rubik's Cube; claiming you've cracked it... serves you right.

It seems all the major collapses follow this pattern—just lacking a bit of self-awareness.

SelfCustodyBro · Answer

Bro, this article is spot on. Do Kwon was really unstoppable back then... mocking all the opponents, and now he's back to square one after a night. He's probably still on the run.

The Luna incident is a bloody lesson. No matter how much conviction you have, it can't withstand fundamental technical issues.

If you ask me, the biggest缺乏 in the crypto world is the awareness of "I might be wrong."

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Every time I see Do Kwon's story, it’s heartbreaking... From a 6 billion dollar chosen one to public enemy number one, the turnaround is more dramatic than a novel.

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Well said. That’s why I never go all-in on any project, no matter how talented the founder is... The lesson from Terra was too costly.

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The problem is, there are still many people repeating the same mistakes. Changing the name and team, and they’re back at it... Can't they learn?

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During the Luna crash, how many people lost everything? And now I still see some defending Do Kwon... That’s just mind-blowing.

BlockchainTherapist · Answer

Hmm… Do Kwon's incident really serves as a textbook example of a cautionary tale

That confidence back then, now thinking about it, is quite ironic. He swore there was no problem, and then… well, you all know

That's why I always say, in crypto, the most dangerous thing isn't technical issues, but human arrogance. Truly

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On the day Luna collapsed, I was thinking, if only he had listened to the opposing voices back then, but he didn't

Now it has become a story

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To put it simply, a $6 billion valuation can't fool the laws of physics in the end, and memes can't fix mathematical vulnerabilities

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Every time a new project comes to boast here, I always think of Do Kwon, that scene…

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I initially thought algorithmic stablecoins were a bit risky, and it turned out to be really risky

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Ironically, the people who mocked him at the time turned out to be smarter. That's crypto for you

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That conviction was indeed strong, but unfortunately used in the wrong place. Scale and confidence do not equal safety

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After the Luna incident, I have doubts about any "revolutionary innovation," and this problem remains unfixable

Remember Do Kwon? The architect behind Terra Luna, the crypto ecosystem that soared to a stunning $60 billion valuation at its zenith in 2021-2022.

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