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LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1)'s status on Friday, 13-May-2022 16:33:49 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} Personally, the pegging scheme used for TerraUSD (UST) is complex enough that I don't think most people should have exposed themselves to the non-understood risk of depegging.
"We're issuing magic LUNA coins to bolster the price" is just unintelligible babble akin to #SGBB. Maybe algorithmic stablecoins will make sense with further study, but the people posting about their massive losses do not appear to have studied either.
I mean, when someone says "here's why the price will always be one US dollar", you should understand it.-
LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1)'s status on Monday, 16-May-2022 21:08:08 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} So now even the primary creator of Ethereum says that algorithmic stablecoins are unsafe. He also said that the smallholders of TerraUSD should get full reimbursement and the wealthy “whales” get whatever scraps are left. -
LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1)'s status on Monday, 16-May-2022 21:13:16 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} https://nitter.net/VitalikButerin/status/1525561624974700545#m
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