jeffemmett
/
web3
1
0
Fork 0
Code Issues Pull Requests Packages Projects Releases Wiki Activity

[notes/terra-crash,notes/3][m]: add more on terra crash plus some associated notes from reading the twitter threads about culture of crypto and ordinary people speculating.

This commit is contained in:
Rufus Pollock 2022-05-10 22:49:21 +02:00
parent a0f48b58d6
commit 9aaaebac61
3 changed files with 41 additions and 0 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

11
notes/culture-of-crypto.md Normal file
View File

@ -0,0 +1,11 @@
# Culture of Crypto
# Notes
## Following the Leader + Line Goes Up - 2022-05-10
https://twitter.com/polka_ether_up/status/1524052691692908544
> Not sure if UST gonna be the only and the last algo stable coin to survive or not, I respect Do's leadership.. His one tweet saves so many ppls ass who are longing on Luna or holding their entire net worth in UST. Maybe it's human nature to follow a powerful leader..
During the [terra-crash-may-2022](terra-crash-may-2022.md).

11
notes/examples-of-ordinary-people-speculating.md Normal file
View File

@ -0,0 +1,11 @@
# Examples of Ordinary People Speculating in Crypto
## 2022-05-10 - panic selling in [terra-crash-may-2022](terra-crash-may-2022.md)
In this thread:
https://twitter.com/stablekwon/status/1524049689510694916
https://twitter.com/Crypto__Otter/status/1524054417594593280
> @stablekwon I panic sold cause i was using it as a savings account. Literally needed it for my tax and rent. I’m guessing no recovery plan for the 20% of my savings that just vanished? Serious question I’m an adult with accountability so can’t be mad at anyone but it hurts…….

19
notes/terra-crash-may-2022.md
View File

@ -17,3 +17,22 @@ https://blazetrends.com/terra-price-collapses-after-attempt-to-rescue-stablecoin
> The Luna Foundation Guard did say that they have not sold all Bitcoin and promised to update the community on the current situation.
https://twitter.com/vhranger/status/1523835842573357057
# Background
https://www.bloomberg.com/news/features/2022-04-19/terraform-s-do-kwon-s-huge-bitcoin-buys-catch-crypto-billionaires-attention [@shen-regan-2022-king-lunatics-becomes]
> Back in Miami, Novogratz sized up Kwon’s pivot to Bitcoin as a reserve asset to back up UST.
>
> “It’s not without risk, right?” he told the audience in his keynote address at the conference. “He’s in this transition right now. The plan is to buy $10 billion worth of Bitcoin. And as that ecosystem grows, that number will grow. **That’s all good as long as there’s not a run on the bank.**”
# Tweets
https://twitter.com/hasufl/status/1523803732173103107
> No matter how this ends, I don't want people to call UST decentralized again. Even the little collateral backing it has is intransparent and controlled by a single party. Used to perform discretionary open market operations. This is like 10x worse than the Fed.
https://twitter.com/lawmaster/status/1523844709319327744
> There is a rumor spreading about Jump, Alameda, etc. providing another $2B to “bail out” UST. Whether this rumor is true or not, it makes perfect sense for them to spread. The biggest question here is, even if they can get it to $1 by some miracle, the trust is irreversibly gone