While some cryptocurrencies have positioned themselves in a manner that ensures their long-term survival in the crypto sphere, there is also quite a handful, including Terra Classic (LUNC), with longevity doubts.
The existence of Terra Classic since the implosion of the Terra blockchain in May 2022 has been clouded with uncertainty. The implosion, which resulted in the deppeg of the algorithmic stablecoin UST (now USTC), plunged LUNA (Now LUNC) to fractions of a cent.
Consequent to the above, it won’t be surprising if investors doubt LUNC’s capability as a reliable option for long-term crypto investment.
Interestingly, we quizzed Bard, Google’s artificial intelligence (AI), on whether Terra Classic (LUNC) will still be in existence in 2050.
Arguments For Terra Classic (LUNC) Continued Existence
Per Google Bard, continued interest in Terra Classic (LUNC) will be significant to ensure that the coin exceeds expectations.
The chatbot remarked, “Despite the crash, LUNC still holds a significant community of supporters who believe in its potential. This community could drive ongoing development and adoption.”
Another argument for the crypto’s continued existence, by Bard, is technological advancement. The AI model noted that the cryptocurrency space is evolving, and new advancements that would be crucial for its survival could pop up.
Bard also highlighted the role of the LUNC burn campaign in ensuring Terra Classic’s long-term survival. The AI model noted, “Ongoing mechanisms to reduce the circulating supply of LUNC could theoretically increase its value over time.”
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Arguments Against LUNC’s Continued Existence
Highlighting factors that could hinder Terra Classic’s longevity, Bard first reckoned regulatory uncertainties hovering around crypto platforms.
Expantiating on how government regulatory uncertainties could play a role, the chatbot commented, “Governments around the world are still figuring out how to regulate cryptocurrencies, and stricter regulations could stifle innovation and adoption.”
Another argument against LUNC’s prolonged existence is the emergence of formidable competition. Bard noted that new and innovative cryptocurrencies could emerge, making the digital asset obsolete.
In addition, the chatbot spotlighted a loss of community support as another potential factor that could hinder Terra Classic’s long-term survival. The chatbot noted, “The crash may have eroded trust and support for LUNC, leading to its eventual abandonment.”
Finally, considering the facts highlighted in this insight, readers should bear in mind that 2050 is a long period from now, making it difficult to predict the longevity of Terra Classic (LUNC).