Topic: Terra USD, proved its not a stablecoin - page 6. (Read 787 times)
Particularly some inside plays. Bitcoin is having a straigh dump and some big whales dump ust and at the same time short Luna resulting to a massive crash. But Do Kwon already said that a loan of 1.5b to repeg UST is currently deployed. This is like a wave timely on the bitcoin dump. Imagine if bitcoin pump, obviously others will recover too including luna and ust. However knowing stablecoin can be depeg such as this is quite scary. Especially I am taking advantage of their 18 to 19% apy now its down. But I do hope it could recover pretty fast to avoid such panic sell
the current price of UST is $0.7, well, it started going up since this thread was created. however, its price development is slow enough to be considered a stable coin. that's why I prefer to use USDT or BUSD which has been used for a long time. however, if this continues, it will certainly create panic, and USDT users can quickly convert their assets into other stable coins. however, I hope that this is fixed soon. Even on social media, many people started writing on their walls about this. this can have a bad impact on the stability of other coins, especially for UST itself
Terra was a scam project. Do known just emptied the bitcoin wallet as this used to back the UST. Remember that if UST unlike another stable token which fully pegged with dollar but UST was a bit different. This is algoritmic stable token that used different mechanism. That's why the price was dumping so hard. Do known has even sold some of his bitcoin to backed this stable token. It was so garbage as fuck.
UST used to drop more than 40%, shortly after that LFG moved 28k2 bitcoin to binance to support and support UST price but this will cause a massive crash to the market. LFG is using all 3 billion USD of bitcoin accumulated previously to save UST. If it fails, Do known will be the cause of a large market crash like in 2018.
Yeah and those blindly believers if terra luna still claim that if that will go back again to the $1 but yeah this proves that if terra luna UST is not even worth to be considered as a worthy stable token. Im so bad to see even those UST holders claimed to be stable token has been loosing their money. What a big shame. This foundation can't even build a proper stable token that truly pegged with the dollar value. So, any implementation other than using the real dollar to back the stable token was a big lie.
People are distrusting this foundation and the price of token plunged so hard
People are distrusting this foundation and the price of token plunged so hard
Supose they come back at the original price.
But... the "TRUST" its completly destroyed in this "run". How can you explain this asides of losing / winning money.
Why they are still losing value? They dont have a secure to cut out all the transaction like in normal wall street when the market its falling a lot they cut the round.
Im not into this coin but seems particular.
I hope so, lots of people got liquidated for this clown show and media are starting to cover it, this incident will again would let more people cry for more stricter regulation. I really dont like when governments add more regulation.
And THIS its the more important aside of all the discusion this made like a fire starter a lot, to the came of government with more regulation. Dont cry after if you make bad things.
But... the "TRUST" its completly destroyed in this "run". How can you explain this asides of losing / winning money.
Why they are still losing value? They dont have a secure to cut out all the transaction like in normal wall street when the market its falling a lot they cut the round.
Im not into this coin but seems particular.
I believe that this is just temporary. Terra Luna's team already released a statement about this case. A lot of people are worried about this, even me I have some UST but I am still calm. This is also because of the recent dump, for sure they didn't anticipate this but I am positive that they will become stable soon and fix this issue.
I hope so, lots of people got liquidated for this clown show and media are starting to cover it, this incident will again would let more people cry for more stricter regulation. I really dont like when governments add more regulation.
And THIS its the more important aside of all the discusion this made like a fire starter a lot, to the came of government with more regulation. Dont cry after if you make bad things.
I believe that this is just temporary. Terra Luna's team already released a statement about this case. A lot of people are worried about this, even me I have some UST but I am still calm. This is also because of the recent dump, for sure they didn't anticipate this but I am positive that they will become stable soon and fix this issue.
Everything is possible in this world. There were cases when scammers successfully run second iteration of the same ponzi.
I believe that this is just temporary. Terra Luna's team already released a statement about this case. A lot of people are worried about this, even me I have some UST but I am still calm. This is also because of the recent dump, for sure they didn't anticipate this but I am positive that they will become stable soon and fix this issue.
I hope so, lots of people got liquidated for this clown show and media are starting to cover it, this incident will again would let more people cry for more stricter regulation. I really dont like when governments add more regulation.
I believe that this is just temporary. Terra Luna's team already released a statement about this case. A lot of people are worried about this, even me I have some UST but I am still calm. This is also because of the recent dump, for sure they didn't anticipate this but I am positive that they will become stable soon and fix this issue.
Terra was a scam project. Do known just emptied the bitcoin wallet as this used to back the UST. Remember that if UST unlike another stable token which fully pegged with dollar but UST was a bit different. This is algoritmic stable token that used different mechanism. That's why the price was dumping so hard. Do known has even sold some of his bitcoin to backed this stable token. It was so garbage as fuck.
price: $.67 during the time of the post
https://www.coingecko.com/en/coins/terra-usd
Does anyone know why its losing its value? I havent dived into terra because i am not interested on the project. Im glad, I didnt since i think TerraUsd and Terra affect each other.
I think terra will be exposed a project that is just a big ponzi scheme.
https://www.coingecko.com/en/coins/terra-usd
Does anyone know why its losing its value? I havent dived into terra because i am not interested on the project. Im glad, I didnt since i think TerraUsd and Terra affect each other.
I think terra will be exposed a project that is just a big ponzi scheme.
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