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It appears you may be the one not understanding. Luna required a set stringent rules/requirement with UST in an arbitrage system. That system broke down.... similar like in the crash of 87' the arbitrage on S&P broke down and the whole system collapsed for a time while the world desperately...

From what I recall from an interview, it was when someone else took her position in her fund that investors lost. But, no one has written a definitive book... (I said definitive) on it.

Already spent my ETH dividends to buy more ETH just a few days ago :( Oh well, timing the markets is hard. I have a lot of covered-call contracts I am debating on closing out now, just in case we get hit by an earlier than expected merge.

Maybe go negative like OIL contracts did?

This may be hard to argue in court. Someone who failed at making a stable-coin in the past, finally thought he found just the right touch of a working solution. His side of the story is that he was hit by a well timed multi-pronged attack, while shorts were laid on Luna. I suppose the creator...

Nope. There were articles published regarding Madoff's scam many years before he was exposed, but it stirred up no interest. Jim Simons tried to duplicate Madoffs methods for his own hedge fund, then came to the conclusion that it was a ponzi and a fraud. He told his employees so and was str8...

Now we know all it takes to bring down the DeFi system. Haha. Tether, your turn next!

Bro, you know how it goes with the SEC. Even when they were handed the details of Madoff, they ignored it for years (noting to see here). If you want to see them clamp down on scams sooner than a decade, you are asking for miracles. It takes a financial crisis for them to see who was swimming...

It has every reason to investigate UST, lawyers say... https://www.theblockcrypto.com/post/146426/the-sec-has-already-sued-terraform-labs-it-has-every-reason-to-investigate-ust-lawyers-say?utm_source=rss&utm_medium=rss

Catching the Wolf of Wall Street. A few hours into the audiobook now. I basically wanted to get a sightly different narrative than the movie.

Reminds me, that russian guy, Andre Jink (whatever). Used to be sure that BTC was going to hit 100K last year. He apologized for being wrong on his youtube channel early this year, then made the statement again how BTC will reach 100K this year. In any case, the fact that BTC is still showing...

Another shit-coin down the drain. Here one week gone the next! Ok, ok, so it's been around for a while. But just as it was ramping up fame a year ago... POOF! We've seen this before. A good lesson here... when you're seeing 20% APR... and banks are paying nothing, be a little cautious my...

Kinda like how we are still baffled and left to wonder what the fuck was Bill Hwangs exit plan in the end. There really didn't see any except for an obvious blow-up for Archegos. Kinda like getting your hedge fund in a gamma-squeeze with no way to go but fall/shoot closer to insta-certain death.

Even Buffett isn't crazy to short crypto-based assets. However, a safer way to do this is by buying PUTs. If you really have conviction, then go load up!

As a rule of thumb, I always avoided ICOs and all that stupid shit-coiner SafeMoon SafeMars and other garbage. Anything outside the blue-chips I draw the line. Hence, I never even looked at Terra previously. This is looking like... a rug-pull that really wasn't a rug-pull.

We must thank Terra/Luna for this dip, after dumping all its BTC from the coffers and flooding the market with it. I was wondering why the FUCK the selling on BTC was out-pacing ETH by such a margin, couldn't figure it out. Then the news hit of the Whale attack on Terra. Those sneaky fuckers...

From other sources I've read, BTC would have to fall into the single digits before margin calls would be carried out. As usual, people can't get their facts right.

Especially when they want to force you to 'lock it in'. Talks are going on now to work out a deal with the Ventures, but no one seems to have mentioned yet how are they going to stop the attackers from carrying this same hit again?

Yup, those whales cashed out a windfall. Just before the attack they put massive shorts on Luna. Do the math. With that huge pay-day... who's next? And why save Terra when they can hit it AGAIN only this time with even more power?