benxbt (airbub) 🌖

@constasino @TheRyanLion That’s my most generously optimistic silver-lining interpretation of it. I’m in the same boat though, gonna be basically on the sidelines for a year.

@constasino @TheRyanLion Yeah it seems like maybe part of the rationale behind allowing the post-depeg group to have unlocked tokens upfront is to create immediate sell pressure so that they exit the system - some sort of dump is inevitable, so get it over w/ and allow lunatics to dca back in?

I personally fall mostly into his category. It means basically no skin in the game for 12 months unless I buy $LUNA or $UST now, or buy into the new token. Capital available is extremely thin, so looks like I’ll be a passive observer in the new ecosystem. GL all 🤝🏻

Don’t Trust, Verify

@TerezeKalman @asparagoid It couldn’t be - I know for a fact that @asparagoid is a Humble Man.

@asparagoid Fake tweet.

@rave811crypto @silversqueezie @lunaterraluna None of these depeg events conclusively disprove the possibility of algorithmic stables working though- I think there could be an algo that works, it just needs to be rigorously tested and shown to be resistant to market pressures like this past week.

@silversqueezie @lunaterraluna It will work they just need to adjust their math equations. And have quick implementation of plan if $ust depeg again .

Who wants to try and rebuild from $1? We’re in 🫡 Too much innovation and talent in this space to just give up now. It won’t be easy but it will be worth it. #LUNAtics assemble

@Billysofny @NicolasFlamelX You can hear people say “remember to take profits!” over and over and over, but this is how you actually learn. A big loss can be a great teacher, the more painful the better. (I’m down pretty bad as well, but trying to look on the extreme bright side)

@NicolasFlamelX Thanks for the fun ride. I’m not meant to have money. Also need to learn how to take profits….. oh well.

Sorry to everyone that’s really feeling this dump, hope you’re hanging in there. The dust will settle eventually and we’ll see what’s on the other side of all this.

@wassiemayne @ErikVoorhees The y-axis are different though??? NQ1 is up 100% from 2019, $BTC is up like 700%. Go back to 2012 and the nasdaq does a 5.5x while bitcoin does a 6,888x.......

People in tradfi making fun of UST... not realizing their stablecoin also depegged by 8% this year.

Oh but with that said, I did use @alice_finance as an onramp and it worked fucking flawlessly, so I am pretty impressed with what they've managed to accomplish.

I know normies would go crazy if they saw their "$" balance drop by 20% in a day from a brief de-peg, but I sort of expected to see the UST value reflected when I checked the app. If they're showing the USD value, but storing the $ as aUST in anchor, isn't that kind of risky?

I'm kind of curious how the exchange rate of $aaUST to $aUST works. My balance in @alice_finance is the same as it was a few days ago even though the exchange rate changed ($1 USD = 0.80 UST). If they're keeping deposits in anchor, does that mean they're at a reserve deficit rn?

@2_turd @unstoppablebtc @hodlwave But the dotted lines are the halvings, and the next halving is March-ish 2024. The next red arrow (top) looks like it's about three quarters of the way to that next halving, that makes me think April/May 2023. I wish the x-axis was just labeled.. 😂

About an hour and a half ago, $bLUNA was briefly 35% cheaper than $LUNA. In the half hour it took me to transfer WLUNA, download a wallet, bridge it, etc, it had dropped to 17%, but still pretty juicy.

Increased my total stack by 6% just through arbs today. Definitely a bloodbath, but assuming things eventually recover, today was a good day #LUNA

@RyanJ88006786 @tundra_v1 Yep it only dropped to $0.95 then, but the price of luna reacted the same way that it's reacting now, with an immediate 65% drop. Or this could be the end, but if so, I'm glad we're getting it over with now rather than having it happen 1+ years from now when stakes are higher

Damn, now bLuna is at a 27% discount. Would have got enough for a floor galactic punk if I'd waited an hour (whatever, grass is always greener etc.)

Fuck yeah, just grabbed 12 free $LUNA!

@tundra_v1 Yup, reminds me of May 2021. Brief depeg which tanks the price of $LUNA, but once $UST goes back to normal in a few days and people realize that all is well and we might actually have something here... demand explodes.

@unstoppablebtc @hodlwave So what are we looking at here for that next top, April/May 2023?

@lunaterraluna I bought the dip at $72, the only pain I'm feeling right now is wishing that I'd waited just a little longer to buy in (sitting pretty otherwise though)

Highest level of negative sentiment around $LUNA & $UST that I've ever seen