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Ask HN: Why did $LUNA go down so suddenly?
- rantallion 4y agoSomething something ponzi scheme. What else do people expect? Stablecoins are proving to be anything but stable. They're just the latest in the line of lies that is cryptocurrency.
- MikeAshley178 4y agohttps://www.goodreads.com/en/book/show/50620154 https://www.goodreads.com/en/book/show/50620154 What is the point of a "stable coin" especially when it is say pegged to the dollar. i.e. 1 to 1. It means nothing because why not just use Dollars in the first place. It serves no purpose.... Unless you didn't really have those dollars in the first place? Because otherwise it's just transferring money with extra steps (fraud) in the middle. The only possible justification of having it is that you don't have the dollars in the first place.
- __ryan__ 4y agoI’m not a big crypto fan, but, the purpose it serves is to keep your money in crypto (avoid fees/paperwork when transferring to fiat) but not risk the value due to the volatility of non-stable coins.
- lifeencoder 4y agoThis might be relevant thread for this https://twitter.com/OnChainWizard/status/1524123935570382851?t=x5RBvMryeHKlfHS84vsMkA&s=19 https://twitter.com/OnChainWizard/status/1524123935570382851...
- SilasX 4y agoI don't know enough to comment either way, but there is at least one thread with commenters expressing skepticism about that story. So, for some more context: https://news.ycombinator.com/item?id=31335009 https://news.ycombinator.com/item?id=31335009