And terra is kind of abusive from top holders. They start buy other cryptos in billions.
I would not wonder if they bust luna with it.
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And terra is kind of abusive from top holders. They start buy other cryptos in billions.
I would not wonder if they bust luna with it.
It's a little sketchy but supposedly a foundation that will benefit the chain. We will see.
I like the decentralized model better in most cases. For example, we could also buy other assets to serve as secondary backing/stabilizing, but it would have to be a proposal approved through DHF, with suitable safeguards (multisig, limited budget, etc.). A foundation basically run by one guy, eh, could work, but...
I agree. But that's more theory.
If the chain itself could control wallets, yes that would be good. But I don't know any way this could work. And if billions are controlled by a group of people, I mean, we are in crypto and know it better.
I think Luna Itself will blow up to an unstable tether version. So if big enough, it could start hammering things to zero ( not zero, but damage the market).
If peg from TUSD should not hold, we see panic.
If peg holds and bear market happens, Luna dies because of inflation.
I mean we know it better from hive.
We could know all agree nobody sells up hive hits 100$.
creating a bazillion HBD ( + 20% hype).
creating protocols/pools for trading HBD to other stable coins, supporting the peg with DAO fund.
At some point, funds are not enough to support the peg and it breaks.
I think this happens to terra this cycle.
Btw, do you know a way to short it without risking the collateral? :D
That may be the goal. After all, Tether has been very successful.
sure I think so too.
The problem I see is the unstable part. USDT has now a MC of 16,7B. If this shit starts winning like wave stablecoin, I'm really sure we see panic.
And the bigger it becomes, the bigger becomes the risk.
if some % comes into xxx- Millions of Dollar, we see the ponzi will break :D
I mean its the best magic trick ever.
Boost your coin, make a algo stable coin on it and start pushing the price with your printed dollars.
print more dollars and exit scam into other cryptos :D