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Bitcoin has nothing to do with Luna. They are as similar as two unrelated Internet companies, like Google and eToys. Inflation doesn't dilute the economy. Rath
by javert 4y ago
Bitcoin has nothing to do with Luna. They are as similar as two unrelated Internet companies, like Google and eToys.
Inflation doesn't dilute the economy. Rather, it grossly distorts resource allocation. How do we pay for endless wars? Fiat funny money. How do we pay for $110 Luna? Again, fiat funny money. Luna is actually a symptom of our underlying system being broken---the system you are kind of defending.
- ineedasername 4y agoLuna is intertwined with Bitcoin. The reserved to defend the peg were at least partly held in Bitcoin, which made the two asset correlated to at least some small degree.
- javert 4y agoLuna tried to make itself look better by "affiliating" itself with bitcoin, that's all. That is the attempted laundering of integrity and prestige. It failed.