- This topic has 9 replies, 2 voices, and was last updated 6 months, 3 weeks ago by pegiewegie.
- Saturday, May 14th, 2022 at 11:28 #272969SocialinfluencingParticipant
Cryptocurrency News – This isn’t the first time Do Kwon has failed at a stablecoin..
Read Here (Article Link):
What are your thoughts after reading this news article?Saturday, May 14th, 2022 at 11:32 #272971CommanderSteps
If I had knewn that I would have never invested.Saturday, May 14th, 2022 at 11:34 #272970IsnortETH
3rd time will be the charmSaturday, May 14th, 2022 at 11:35 #272972AXTurbo
he should introduce a stable**rekt**
that one would be very successfulSaturday, May 14th, 2022 at 11:41 #272973nitram013
StableconSaturday, May 14th, 2022 at 11:51 #272974Valuable_Activity241
Have you seen the price it’s going upSaturday, May 14th, 2022 at 12:17 #272975rainsong94
Tbf the first one seems to be just another seigniorage stablecoin that was in the rage back then. With share mechanism as money printer and bond as incentive to buy when it went below peg. Just like TOMB forks nowadays. Nowadays these kind of projects are called tomb fork not algorithmic stablecoin, because people have realized that they’re not stable afterall lol.
UST was a different beast though. Kwon really nearly pulled it off, his attempt to create fractional reserve banking in crypto. Many have predicted that it’ll collapse eventually just like USDT in the future, but almost none thought it’ll happen this soon and this quick. Top 10 in marketcap, listed in coinbase and binance, billions in VCs and MMs backing (if not for alameda pulling out from the bailout deal, maybe just maybe, luna and UST could be saved). Just 1 week ago people will argue that luna and UST were “bluechip” lol.Saturday, May 14th, 2022 at 12:21 #272978pegiewegie
I might stay in, after a restart, depending on how solid the plan is.Saturday, May 14th, 2022 at 13:10 #272976Millidoge
It’s not the first time nor last time any of us will make mistakes as well. It happens. We are flawed and not perfect. A big part of success starts with failure. I’m not minimizing what’s been done but show me any successful businessman or owner that hasn’t made many many mistakes and has learned and grown from them.Saturday, May 14th, 2022 at 13:36 #272977SmallReflection2552
And somehow I don’t think it will be the last
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