How about a simpler theory? That 20% gains promised by Anchor were complete bollocks. Too much USD was promised, many users confused UST with USD. When UST los

How about a simpler theory? That 20% gains promised by Anchor were complete bollocks. Too much USD was promised, many users confused UST with USD. When UST lost its peg, the users woke up from their slumber / programming, and realized that they'll never get their 20% gains or their money back. Some woke up at $0.99, others woke up at $0.95, and many others woke up at $0.65 yesterday (or today). The value continues to bounce between $0.65 and $0.90, but it doesn't seem like anyone has much confidence that UST will come back to $1. So they started to sell off their UST, or at least, the people who can (the ones who were stuck in 20% accounts couldn't sell). Because 20% APY gains are unsustainable, this entire event was inevitable. Once the dollar value promised by the system far exceeded the dollar value actually in the system, the whole thing collapsed. --------- And now a $6 Billion market cap coin (LUNA, since so much of its value has been lost...) needs to somehow be sold to make the $15 Billion remaining in UST whole. This doesn't seem possible anymore. More and more people are realizing this, and they're selling at 80-cents, 70-cents, or 60-cents, because they look into the future of this whole structure collapsing to $0, and 60-cents is better than 0-cents in the long run. Its quite possible that the original people who made all of this knew this house-of-cards from the beginning, and just wanted to take real world US-dollars from people in exchange for fake UST funny-money. But now that users are angry and asking questions, they need to create boogie men to deflect themselves from the blame. ------------- As Mark Twain said: It’s Easier To Fool People Than To Convince Them That They’ve Been Fooled. Let the fooling games continue.