The whole idea of pegging is stupid, to begin with.

It basically tells whoever having more money than the reserve: "attack me please!"

Pegging would only work with a central bank behind it as it can have a much larger reserve plus exporting portion of the GDP to counter such an attack to be financially viable. And even so, it's not impossible. Soros actually made his name doing this very thing, many times as a matter of fact.

For a stable coin to be "pegging" to something it's just asking for trouble unless it's a true tangible assets like USD cash or gold because their market cap is too big for any fund to tamper with.

You sound like the American Dream... it don't work so well anymore.

You gotta hit a stream of some sort to even buy a condo here now... whether it's a parents money, inheritence, stock win, BTC win, whatever it may be... you can't just put your nose down and jump through the life hoops anymore. You need a big break.

Look at the pics of your whip thread, badhobz went into detail about his life experience... went to school for something tra-la-la but when it comes down to it, he only was able to buy a place because he made a huge gamble on the stock market and also had good timing on the RE market too. Probably couldn't even replicate the second part now.

He's done well to keep it up since then, but to get established he had to make a very risky move and it paid off for him. Lots of other people it didn't.

We're all invested in something one way or another, I wouldn't laugh if your investment cratered and I'd be happy if it paid off.

FTR: I don't have any money in the crypto market currently... well... I think I have some old dogecoin sitting around... so I am saying this with a free mind about it. I feel really bad for all the consumer based people losing their money/dreams/whatever.

Luna need to continous print more luna in order to try and repeg UST. basically as long as UST is unpeg luna will keep falling from increase sell pressure and inflating supply

In order for luna to surive they must save UST. In order for UST to survive they must sacrfice luna. Poetic isn't it

As to why people are STILL buying a dead coin.
This happen to several "stablecoins" before, the most recent big one being Titan/Iron. The coin mark cuban got rekt in.
Basically it went to zero. But after while, when the dust settling. It went 100x several time before it finally died and never came back.

Whoever attack LUNA it was 100% an organize entity outside of crypto world. LUNA was so big, noticeable crypto whale, all of the crypto market maker had significnat capital stuck in LUNA and have zero chance of escaping and went down with all the retail players as well. The gamble here is that these big players will want to recover at least SOME of their capital with strategic pump and dumps once the market has settle down.

Yes crazy moon shot again, BUT it has worked before in other dead coins.

I'm not faulting them for wanting to make money. I'm faulting them for thinking they've found a goldmine that will pave their future with glory and solve all life's problems. Then those same people go on bragging to people who don't invest in whatever it is they're in on only to find their whole world crash and burn.


I do believe hundreds of pages ago in the real estate thread myself and others made complaints how it's sad that we can't even live in the cities we're born and raised in. The general replies that were given were saying if you can't afford to live here.... move away. That's one of the replies I do believe was said to me. You know what I did? I moved further away. Went from a 5min commute to work to 30+ minute commute on the highway before 6am when traffic is minimal so I could live within my means. Do I like it? No. Do I accept it? Yes.
If living here and being able to buy a condo/house is dependent on a breakthrough in crypto/stocks then you probably shouldn't be living here. It may work for people, it may not. When it doesn't, don't go crying.
If the housing market crashes and all the people who've been saving up to reach a down payment realize that those who overpaid and have an insane interest rate are now forced to sell at a severe loss, a loss that wouldn't even cover their mortgage, would you feel bad for them or take advantage of the situation and buy their property?

This isn’t bob down the street losing his company through no fault of his own. This is people gambling with money they already had so they can get money for having money on a game they don’t even know how to play. Bad days at the casino boys, but winning streaks aren’t forever.

Ironically twitter is often the best source of information on what is going on in crypto on the ground level. Crypto army monitor lp pool, on chain dat regularly and will have a clearner picture than random blog that copy and paste their information from the first tweet they found


This is a great break down. This was a highly cooridinate attack that happen right as Do Kwan pull some liquidity out of 3pool in prepration for launch of 4pool. 4Pool never went live in time and Do kwan was caught with his pants down with limited liquidity in 3pool and the cascade of coordinate selling causing a death spiral as everyone run for the bank to withdraw from the limited liquidity available in the on chain pool.

Supposedly it all started with the OTC deal. Being OTC we might never find out who it is. 1 bill worth of btc were borrow to start the attack. Its really not that crazy to think an insitutional short saler such as citadel being behind this. The amount of coordination and market making skill to pull this off has institution written all over it.

can someone explain to me why LUNA is approx $.037 USD but $.025 CDN to buy?

seems backwards??

Liquidity issue across exchange. You are going to see wild price flucation across different exchange and future contract that is still tradable.

Deposit and withdraw is being throttle right now by all major market maker. Welcome to the wild west

Loudest one is the weakest one. I'm just glad these recent corrections will bring some peace and quiet. :lol

Unless they've managed their way through a bear market or two, it's typically just noise. It's sad that people only learn about humility after they've loss their shirt.

Me 5 years ago LUL (and several times since then)

Bankers ruin everything. Including the planet. We're just fucked.

bitcoin has been ruining bitcoin before bank ever had a chance to step in. This is 1 of how many cycle now in cryto? All the while the rest of the world has been a single cycle prop up by the gise of "free market"

Crypto is more of a free market and efficient capitalism than any other existing market.

Inject of capital ->create a narrative to prop up valuation (ICO boom, defi summer, NFT boom etc) -> restribution of capital -> prop up more valuation -> everything balloons to a massive bubble -> all possible liquidity to inject into market as been tapped -> new narrative on market collaspe (macro economic, banning of crypto, stablecoin bank run etc etc) -> bubble burst -> valuation cascades down, liquidation everywhere -> cycle ends at rock bottom -> capitalist re-pick up their chips for pennies on the dollar -> cycle restarts, now its much easier to inject liquidity to push up valuation again with everything back at square one

Everything happens without the government to soften the landing, mess with the market thru monetary policies. Without social/moral constrain. Everything in crypto is base on $, relation of everything and every player in crypto is base on mutual monetary benefit because unlike tradition finance You can't just send a physical army after your opponent or fancy trick between nation to adopt x currency as standard

Its Pure and unadulterated capitalism, that is the wild west people refer to. For people that are fasicinated by money and economic. It hard to pull away.

And yet for some reason, there's a good chunk of men that like it
FeelsGoodMan

Luna is now $0.007651 and Terra is $0.194. I hope no one kills themselves over this.

$0.00005 USD now daaayum

Anyone buying?

I was joking with my cousin we should throw $5 into some LUNA instead of scratch cards, lol.

The idea of pegging means that it's inferior to begin with, only by linking itself to something that's better and more stable can it create value.

Which brings the question, why not just buy that something it's pegging with?

UST was mainly backed by 10B worth of BTC. And since there's no limit how little BTC you can trade, why not just buy BTC?

"Pegging" gives a false illusion that it's secure, that many felt for it because they wanted to get into crypto but think it's too volatile. That's the original intention of "pegging", to create the illusion of security for new crypto investors. Nothing more, nothing less.

The USD doesn't peg to anything. The Gold doesn't peg to anything. But they have no problem retaining their relative value. I've lived through a country where they tried to "peg" to USD, and I will never again trust that idea. Because as I said... why not just buy that thing it's pegged to?

It's not listed anymore on crypto.com I thing some other exchanges have delisted it also.

I converted some dust in my okx acct over to luna wooo made 0.30 :lol

Is hehe the only one that missed my joke? KEKW

I expect a similar dissertation to the one given above on the pegging you were alluding to when I wake up tomorrow.

So is Luna dead dead? like there's no coming back?

I'm thinking, is this like if I bought $1 a BTC back in the day, i'd be a millionaire type of scenario??? lol


edit; NM, I think Luna is dead dead. there's no coming back from it.

$0.00009324

coinmarketcap.com price

hell even it it came up a couple zeros!! lol


almost put $100 in it last night..glad i didn't

It's trading at $0.027 on OKX hasn't seemed to break the 0.03 barrier since last night

It's dead on centralized exchanges. The only action I hear is on decentralized exchanges like trader joe's

LUNA is still available on FTX.

about 15000% from its very bottom if anyone was brave enough to buy some.

0.1 is a distant dream now but knocking out 1-2 zero is possible