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r/CryptoCurrency·tanmay1010·346

Another Stablecoin Loses Peg as Algorithm Fails to Keep Pace

CryptoCurrencyreddit
2022-05-17 22:43·View on Reddit

Decided check the Daily post on the three days in the past around the last bitcoin bottom and see what people were discussing around that time. Links to daily post and screen shots of some of the top comments below. December 13,…

Transaction analysis has uncovered a possible series of transactions that could have possibly allowed few holders to cash out almost at 100% peg, while majority who held on till late lost all their savings. This becomes even more suspicious as LFG and other operators are not releasing evidence of…

As of Saturday, May 7, 2022, the Luna Foundation Guard held a reserve consisting of the following assets: · 80,394 $BTC · 39,914 $BNB · 26,281,671 $USDT · 23,555,590 $USDC · 1,973,554 $AVAX · 697,344 $UST · 1,691,261 $LUNA Consistent with its non-profit mission & focus on the health of the…

After the recent market turmoil I became anxious that Coinbase might collapse and I'd lose my Bitcoin. The Coinbase share price has fallen from $345 to only $53 in six months. Although unlikely, it's possible that Coinbase will go out of business and everyone who holds their crypto on the exchange…

It’s really easy to say “don't panic” or “don't buy the hype” when in reality its VERY hard to disregard and ignore these feelings cause they’re wired into the brains as human beings. Any investor that knows how to control these feels needs to have A LOT of will power and patience which obviously…

From the Nano sub: Nodes on the network are being directly attacked with a heavy load of unchecked blocks that are slowing them down as it ties up disk write operations, causing node processes to spend time waiting for these writes to finish. Enough nodes are being targeted to cause settlement…

When you’re in the green and making lots of profits your brain will automatically make you double down even though you told yourself multiple times that “this is enough”That’s just how human greed works. The majority of FOMO after all is simply just greed and events like this one should always be…

The title says it all. Crypto is dominated by software engineers who think they are more knowledgeable than they actually are, especially when it comes to fields like economics and finance that are FAAAAR out of their wheelhouse. Terra's failure was a failure of economics more than it was a…

I'm not saying it's either bad or good, it's just truly crazy. Yes, buying ETH or BTC at the start of their existence and HODLing till 4K or 67K, was really smart and worth it. But now, holding the best projects will double your money in the best case and throwing $100 at a random Shitcoin or…

As the post title says, we keep seeing all these people crawling out of the woodwork to say “see? I told you 3 months ago that LUNA/UST was going to crash, but no one listened”. They say hindsight is 20/20, so maybe all the signs are easier for people to see when it's already happened, but as we've…

I have seen and watched multiple videos recently about how something like Luna/UST was always going to be unsustainable and that 19.5% apy for staking it couldn't work long term. If all that is so obvious now, why couldn't people see it before the crash? I know people were warning Do Kwon that…

Anyone else surprised? The macro economic factors look bleak. The nasdaq sold off like crazy, including Apple, ostensibly the top dog. One of the “most promising” crypto projects outright failed, alongside its stable coin. A stable coin failing breaches a lot of trust. That and Kwon sold off a ton…

source: https://twitter.com/stablechen/status/1525023238895837184?cxt=HHwWgIDRycmj_KkqAAAA So just rewriting history is now a serious option. I am sure this is legal and the exchanges will surely have nothing against this :D Honestly why can't they just stop. This hurts the whole cryptospace and…

I like the idea of a fully decentralized p2p e-cash, is there anything that still resembles this vision? After reading the bitcoin whitepaper which outlines how bitcoin was supposed to work, crypto seemed really cool. But the vision of BTC is long dead and it no longer aims to be what it was…

Bitcoin just made its wickets below 28 and even further down to 25k. Luna is basically going down in a literally straight line and achieved 1$ before even UST. We got over a billion long liquidations. Today the markets just shed $200B alone from the combined market cap. This is not everyday Crypto,…

Edit: Breaking Luna blockchain has been halted [https://www.theblockcrypto.com/post/146615/terra-blockchain-halted-to-protect-against-possible-attack]. I’m not familiar with details of that yet, but read below for my initial post. The blockchain has resumed without staking Edit2: multiple sources…

On a lot of threads here, people keep saying stake your coins for passive income.. while passive income is indeed a good strategy (who doesnt like extra beer money?), staking has massive risks as well which have played out with the ongoing collapse. On most staking networks, you have a long unlock…

What should a crypto exchange do right at the time a top 10 stablecoin is imploding with billions of dollars vanishing and people losing all their savings? Surely not shill another algorithmic stablecoin that almost uses the same design as the one imploding... Thats what Poloniex is doing. USDD…

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