Luna hit 0,03$ - The chain is dead
Many don't believe me. But if algo coins break, they kill the underlying asset.
I had on hive this discussion multiple times.
All the time someone comes with some weird ideas around the corner about why is not the case and why luna/ TerraUST is such an awesome thing.
It's a Ponzi and nice to make money.
But it kills the chain.
Terra Luna will never recover from this.
The chain is dead and the stablecoin will go to Zero.
Marketcap is now 250M USD.
Dai has the best (algo) stablecoin model and I say it for years.
2 Bullruns and massive Swings, it's still here. It's stable.
HBD is the same on scale BTW, mechanics don't make sense ( like the stabilizer proposal) on scale.
Only in crypto people become greedy enough after a 400x ( luna) not to think about taking profits.
Many people loss everything on that shit. Many people fall for the 20% promise of luna.
For Hive,
I can only say happy users are good users. Promote the 20% on hive with risk-free is the most retarded ever.
HBD loss peg multiple times and it's not stable. It's not dangerous big so hive can handle it. If HBD scales 10x from now, it would be to big.
At the end, the network ( stakeholders) pays the bill.
Sidenote: If someone use the terms "risk-free" and " guaranteed " run away and don't invest.
Nothing is risk free, not sure who has been saying that though.
The blockchain stops printing HBD if the ratio reaches a threshold, but time will tell the peg hasn't been seriously stress tested and the whales always get more frantic about keeping the top side of the peg than the bottom side.
Posted Using LeoFinance Beta
Many of our hive top influencers on Twitter :D Every time i read it i become less bullish :D
yeah, I haven't seen it.. but that's pretty dumb thing to say, but it hurt's the speakers credibility more than the project.
Posted Using LeoFinance Beta
I comment on some Tweets, but stopped after it becomes a cringe and weird discussion.
Because so many did that...
!PIZZA
Posted Using LeoFinance Beta
PIZZA Holders sent $PIZZA tips in this post's comments:
@gillianpearce(1/5) tipped @urun (x1)
You can now send $PIZZA tips in Discord via tip.cc!
Well, what happens when the majority of coin holders succumb to panic. sell their assets at a price close to zero, in order to save at least something? These coins will be redeemed by the management, burned and laughed merrily at those who sold them. They will buy most of the coins from themselves.
Posted Using LeoFinance Beta
I dont think chain will recover.
Do Kwon has build 2018 another failed stablecoin in 2018.
There is a pattern :D
https://www.zerohedge.com/markets/history-repeating-terraform-ceo-do-kwon-was-behind-another-stablecoin-failed
Your writing feels angry, are you offended by the market?
So you think Luna would have eventually taken the same way with or without the aartificial attack vector due to those OTC deals.
Not angry at all.
Would go same way. No matter what.
The system was: Buy Luna, pump price, convert to UST, buy more luna, pump price more, print more UST. And all instant.
That's why peg was lost as converting after price drop was not instant anymore :D
The same would happen with haircut if an underlying asset, like hive would lose 50%.
Should I say you something, Hive is exact the same system with the difference our stakeholders don't invest in HBD. Even with 20%.
Technical a bit different to luna, but not enough to not be a ponzi at some point.
One Bubble in another Bubble in another Bubble, everything broken down to FIAT Prices becomes a Ponzi if you dissect it long enough. Just look at it more abstract as valuesystem with inderfaces, storage and expansion according to the second law of thermodynamics. Intermediate prices will always be somewhat missleading, because Markets are emotional. But if those LUNA Dev Teams and Projects want to rebuild / restart, they just have to let USDT die and keep going. That would also include beheading the Hydra, fork out the Luna Foundation.
But I didn't know about thise instant conversions, that's madness.
https://www.zerohedge.com/markets/history-repeating-terraform-ceo-do-kwon-was-behind-another-stablecoin-failed
Same team luna was second stablecoin :D
IMO, no rebuild. Next Bullrun new chain with new names, same team :P
DAI works, no bubble.
Why because of liquidations and higher collateral.
Working system.
yeah and It's not so easy to play around on ETH, the community is full of shpards, gas fees and transaction times make you slow, easy to observe.
You couldn't do that on solana as well, if they had an algo stable, because those mf can just halt the hole chain and delete you. Very Blockchain like those people from Zürich.
IMO no conspiracy. It's simply lost in trust. I know people think "bad short-seller was it".
But that's what a collapsed Ponzi looks like. Technical it could happen everywhere if short-seller was it, because the action would then happen on exchanges.
So overall IMO a very bad conspiracy theory :) Market kills bad projects. Normal and nature.
Btw luna supply double in the last 1H, haha exactly as i predicted :)
Binance and other exchanges maybe delist luna soon.
Double? We‘re at 40b now
3h later :D
basically me, looking good in red
I already get discord and email spam about Luna Fork 1:1 token swaps for phishing purposes.
lol :D please don't tell me you was a luna holder :)
I had LUNA/CRO in one Pool, about 250$? Scratch them...
you will survive it :)
Where do you travel from your airport post? some cool holiday place or work? :)
Frankfurt -> Munich, going into the Weekend, Chillin and Stuff
Damn good advice:)
Posted Using LeoFinance Beta
Thanks Nathan :D
I feel like we need that 5% tax on the HBD -> Hive conversions to prevent something like this. Of course, even with this, it would still be something like a 15% APR and I still think HBD can succeed. It just needs way more use cases.
Posted Using LeoFinance Beta
tax makes no sense.
It needs a working "absorb mechanic".
Like 3 asset pool and the protocol owns all 3 assets with "converting fee".
Everytime someone trades HBD for USDC or whatever stablecoin, it cost 0,25%.
After 1 years and abitrage trades the volume should become massive.
No apr. Only 0,25%. People can also invest in it.
Maybe some APR in hive ( 5% from current inflation 2,5% author 2,5% curators).
Would be pretty decent and could grow with DAO fund.
But for that we would need smart contracts and people that deeply research about HBD/ Stablecoin mechanics.
And not all the time copy and paste ideas with no result. I see last year rarely new ideas to improve our stablecoin.
Only " make a ponzi out of it" ideas :D
Congratulations @urun! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
Your next target is to reach 12000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Support the HiveBuzz project. Vote for our proposal!
Let me know if you think it's time to bail. I have quite a lot in there.
:)
Remember steem days the internal market price never drops under 0,2 meanwhile outside it was 0,1? Witness feed was also 0,17$ -0,22$ this time.
No matter how big HBD is, this is my exit :D don't want to get rekt by 50% or need to hold for whatever time period.
Must not necessarily happen, it's my exit for it. Maybe a bit sooner.
If HBD expands and hive pumps, i will watch closely. But than i would be more concerned about Hive power thats locked up for 3 months, haha :D