You’re brilliant, but your negative bias towards TOTAL3 having a massive period of outperformance against $BTC is the only thing I hate about you.
I don’t understand why everything else that’s always happened consistently in prior cycles you stand firmly behind, yet TOTAL3 outperformance of Bitcoin you so casually state ‘doesn’t need to happen’.
Why are you so easily dismissive of massive alt performance when in the last 2 cycles it’s made as consistent an appearance from the range lows into huge rallies as Bitcoin dominance has from the lows to highs?
Your whole sentiment when talking about it is dismissive and negative, and is confirmed by the fact you refer to basically anything outside of BTC and ETH as ‘shitcoins’.
With nothing currently broken in the cycle, I see no reason why your base case shouldn’t be ‘a bottom at the range lows for (TOTAL3 - USDT - USDC)/BTC followed by a large sustained rally like we’ve seen in the previous 2 cycles’.
Following your logic for all your other calls this cycle and subtracting all bias, this should be the only base case you have.
This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days.
1/ I’ve spent the last few days on the phone calling Terra community members – builders, community members, employees, friends and family, that have been devastated by UST depegging.
I am heartbroken about the pain my invention has brought on all of you.
@stablechen@terra_money Genuine q, how can you restore a snapshot minus the reserves? and who is realistically going to collateralise ust given current status?
The community is deciding on a new @terra_money, between restoring a snapshot prior to attack, removing TFL, fully collateralizing UST and drafting & deliberating new mechanisms for $LUNA.
We must salvage the remaining value in the ecosystem & community and rebuild the right way