Another great investment decision from Mr Tie, right before it got removed from the exchange.
I love losers so I'm flipping LUNA tonight.
- Thread starter MarkBrown
- Start date
I made $500 Trillion.
That is the value of all stock-markets+real estate+bond markets + commodities + cryptos + cash... and everything else, in the world.
I now own everyone and everything
Still thats not enough, my greed has no limits, i'm now going after that asteroid which is worth $10,000 quadrillion
It's time you changed your id. Work on that first before checking out the asteroid.
Anyone got a thumbnail explanation of why LUNA crashed to zero... or was it "just 'cuz"?
Luna crashed because it was always supported by TerraUSD, they claimed that every Luna coin was backed by TerraUSD, that as an extension was pegged to the dollar.
https://www.cnbc.com/2022/05/12/cry...most-worthless-after-ust-falls-below-peg.html
TerraUSD announced that they weren't backed by dollars and everything fell down as a domino. They essentially tried to do the same scam that Tether has been doing for years. The owners ran away first, obviously, and the poor souls that weren't quick enough to get their dollars out got caught in the guillotine.
A clear example of what a so called stablecoin is.
Tether may indeed be the next. There is no verifiable proof how well it's backed by the USD.
They already disclosed that they have little USD about 3% plus another 3-4% in treasuries, the rest is what they call commercial paper. This is where it gets interesting, when they had 60 billion market cap (they now 80 billion), Bloomberg interviewed every bank that deals with commercial paper (it is a very small world), non ever saw them trading a single commercial paper. And at 60 billion they would be top 10 commercial paper holders in the world. Now do the math....
Yeah, i still feel empty inside
They already disclosed that they have little USD about 3% plus another 3-4% in treasuries, the rest is what they call commercial paper. This is where it gets interesting, when they had 60 billion market cap (they now 80 billion), Bloomberg interviewed every bank that deals with commercial paper (it is a very small world), non ever saw them trading a single commercial paper. And at 60 billion they would be top 10 commercial paper holders in the world. Now do the math....
LOL. Shit will hit the fan.