[notes/4][m]: various minor notes over last couple of weeks especially re tether and usdd / tron developments.

assets/TRX_7D_graph_coinmarketcap.png

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assets/USDD_7D_graph_coinmarketcap.png

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notes/crypto-is-like-the-early-internet.md

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+
+
+## Evidence people say this
+
+See this tweet from Kara Swisher https://twitter.com/karaswisher/status/1528533392266076160
+
+in context of this thread https://twitter.com/agraham999/status/1528516401039675393

notes/newsletter-may-2022.md

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+
+https://twitter.com/BillAckman/status/1526398201003130880
+
+Famouns investor Bill Ackman weighs in on [Terra/Luna collapse](terra-crash-may-2022.md):
+
+> When I read about the ‘algorithm’ of @terra_money it sounds just like a crypto version of a pyramid scheme. Investors were promised 20% returns backed by a token whose value is driven only by demand from new investors in the token. There is no fundamental underlying business.
+
+Though it seems he is in danger of the classic fallacy of "yes there's some bad, but there must be some good":
+ 
+> The digitization of the Luna scheme and the hype about crypto enabled it to achieve enormous scale quickly. Blockchain is a brilliant technology with enormous potential. Schemes like Luna threaten the entire crypto ecosystem. The crypto industry should self-regulate away other crypto projects with no underlying business models before crippling regulation shuts down the good and the bad. Hyping tokens that are not supported by businesses that create value will destroy the entire crypto industry. Why and/or where am I wrong?
+
+Should be asking what is the "fundamental underlying business" for most other crypto-assets.`
+
+
+# ECB President
+
+https://twitter.com/JohnReedStark/status/1528052514758836224
+
+ECB President Christine Lagarde: "Crypto-currencies are worth nothing and based on nothing,” and should be regulated to steer people away from speculating on them. Finally, a leader courageous enough to call crypto what it is - a huge, global Ponzi scheme.

notes/tether.md

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+# Tether
+
+# Notes
+
+## 2022-05-22
+
+Tether seeing over $10bn in redemption and may need recapitalization
+
+https://www.kalzumeus.com/2022/05/20/tether-required-recapitalization/
+
+https://www.theguardian.com/technology/2022/may/22/tether-pays-out-10bn-in-withdrawal-since-crypto-crash
+
+## 2021-07-21
+
+https://twitter.com/patio11/status/1417912777922936836
+
+> Tether/Bitfinex did an interview with CNBC attempting to quell fears that it is among the largest frauds in history, calling it “the perfect use case for digital commerce” and “the future of digital commerce.”
+
+https://twitter.com/matt_levine/status/1417919850899509252?s=20&t=5Zsz71gwmwRUSDsQER2ZAQ

notes/usdd-tron-stablecoin-collapse-june-2022.md

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+# USDD, Tron Stablecoin collapse June 2022
+
+* USDD is an algo stablecoin associated to Tron
+* Late on june 12 it broke its peg in a significant way and situation appears to be worsening as of June 14 ![](../assets/USDD_7D_graph_coinmarketcap.png)
+* It's associated coin TRX (tron) is also experienced significant downside volatility ![](../assets/TRX_7D_graph_coinmarketcap.png)
+* It is one of the "partially collateralized" algo stable-coins
+* [appears to be under-collateralized][1]
+
+
+
+
+[1]: 2022-06-12 - longish thread "And it's starting" https://twitter.com/resdegen/status/1536005536646320128
+
+
+TODO:
+
+* [ ] describe background of USDD and TRX
+* [ ] brief info on justin sun