UST’s Do Kwon Was Behind Earlier Failed Stablecoin, Ex-Terra Colleagues SayBasis Cash, an algorithmic stablecoin project founded by the anonymous “Rick” and “Morty” in 2020, was actually the work of Terraform Labs employees. Revealing the real name behind an online pseudonym (even a long-discarded one) is not a decision CoinDesk takes lightly. Our default position is to respect the privacy of pseudonymous actors with established reputations under their well-known handles unless there is an overwhelming public interest in revealing their real-world identities.
In this case, there is such public interest as Kwon’s UST stablecoin death spirals, wreaking havoc across the broader cryptocurrency market. Amid this precarious situation, investors deserve to know that UST was not Kwon’s sole attempt at making an algorithmic stablecoin work. Reads like looking to pass the buck to me. "Oh, we'll tell you now that it's too late to do you any good and we've lined our pockets". |
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I have neither done the analysis, nor have I seen any complete on this wreckage yet, but I am curious how much of what has happened can be laid at the feet of PoS. I suspect at least a portion of it.
Stablecoins are just a ridiculous idea (ask Norman Lamont). End of story. |
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Edit: No I see the Nasdaq has shit itself. It was a higher CPI than expected.
Not for anyone paying fucking attention. |
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Please translate into "mere mortal speak."
Just jawboning but it seems like this might be a "managed" price movement. |
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Looks like we have a bit of a scrap going on with the price. Though possibly just aftershocks.
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To be unusually on-topic, I noticed that usually when we see large price moves that are probably organic, the chasing price walls are often depleted but in this recent crash, the asks were particularly resilient,
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Is bitcoinity done?  |
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Putting it into long term perspective. Or to put it a different way, we just dropped about twice that in an hour. |
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Holy moly  |
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The goal is to destroy all the crypto, not protect it.  Why would politicians want to destroy it? It's for use by criminals, after all. |
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I don't know what you mean by new world currency, but apparently it is at 6 month highs vs the dollar. The theory is that the EU nations are indeed paying in rubles.
Alternately, they may not be paying yet but hedging and accumulating in case they have to. Or maybe speculators getting in early. |
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Sorry bud. We have enough land that we've declared the entire tract a deer sanctuary. We allow people onto our land to hunt when nobody is there, but they are given strict instructions that deer are not to be killed. Everything else is fair game.
What are your plans if overpopulation becomes an issue? Do you not envision that to be possible or will you be happy to see diseased and/or starving deer wandering around? (Genuine question, not an attack). |
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You're so morbid, sometimes.
Hey, it wasn't me decided that it would be amusing to apply paint to the nose of a deer head from a hunt. |
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Blueking, give it up. No one cares.
Bob, I am fourth gen farmer, I have some pix of Bambi eating apple from my hand.
My wife has a picture of her and her sister sitting next to Rudolph's severed head. |
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see here now, buddy i know you like the 30s and all but really, enough is enough. moon is that way ^^^ Bitcoin is a woman that doesn't want to admit to being in her 40s. |
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The biggest country giving the most money isn't very surprising. A fair comparison would be to sum up all the aid from the european countries and the EU and put that in comarison to the USA.
If you want to compare superstates, you don't really get to make your "seven of the top ten countries" thing (though looking at your chart, it's hard to see how the EU would get close to the US from that POV anyway). The better comparison is per-capita typically. |
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Another stock price dump over at Tesla.
Sure it might just be Twitter related stuff but I reckon we are in for some big pain in the markets and I suspect the stock - BTC link hasn't been fully broken yet.
Hold onto your butts.
Possibly people think there's going to be some government retaliation against Musk for peeing on their propaganda party. Or maybe it's just leftists stockholders spitting their pacifier out. |
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If you mean the 2048 rate being .0488 rather than .0388, then no. I noticed it but just assumed I didn't know shit about fuck so I let it go. Being a Newbie I can still get away with "I dunno..." and just wait for the answer.
That's the one. |
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Ostensibly true. The question is whether that will be due to the complete abandonment of fiat or the heat death of the universe. |
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