- Senators Urge FTC to Probe ID.me Over Selfie Data by Krebs On Security.
- Spirit Airlines calls for shareholders to reject JetBlue bid by Reuters
- Hertz Has The Most Insane Reason For Not Dropping Charges After False Arrests by VFTW.
- How the Anchor protocol helped sink Terra by The Verge.
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Popular posts from yesterday:
If I had a nickel for every time someone told me I was going to miss out on crypto if I didn’t buy when BTC was trading above $60k, I’d have… 50 million LUNA.
After reading these posts about Hertz, I am definitely never renting from Hertz again.
Pretty much
I don’t know why anyone would rent from Hertz. I’ll gladly pay an extra $5 a day to rent from companies that won’t call the cops on me.
Please explain to me why anyone would rent from hertz! Please!!!!
Do Kwon and TerraLabs Inc PTY Singapore helped to fraudulently misuse funds to enrich themselves.. which caused the 40 billion dollar UST / Luna market to crash. Follow the latest updates on Twitter.. because the whole drama is still unfolding as new information is uncovered about the extent of Do Kwon’s lies and fraud – https://twitter.com/FatManTerra
I personally lost about $3,000 from the UST crash, which sucks. But some people lost a lot more than that. Apparently several people also killed themselves over this hot mess.
This is what happens when you gamble on speculative currencies.
Not sure how much you’ve read but UST (the stablecoin) was falsely marketed as a “safe” investment by Binance, etc. before it collapsed due to some employees mistakes with the company.
You can blame that designation on the crypto community in general. Every day on DoC I see a smug mark proselytizing about how saving accounts, I bonds, and index funds are inferior to “guaranteed” stablecoin returns. It’s honestly a bit satisfying to watch the ensuing crypto crash.
Some guy on twitter: Terra/Luna is poorly designed and could easily death spiral out of existence
Do Kwon: Thats the most retarded thing I’ve ever read
also Do Kwon: hold my soju
lol
learn the difference between algo stablecoins and USD backed ones first before you pipe off…and while youre enjoying the “crypto crash” insteadd of buying you will miss out on the next bullrun again in ’24/25/ n you can come back here again in ’26 to be happy u missed out again
By “employees” do you mean Do Kwon, and by “mistakes” do you mean embezzling funds under the guise of trying to save UST? lmao
no what happens is you could have made generational wealth the last 18mos but instead u decided 3-4K a year churning bank accts n flyer miles was a better use of your time rofl
I could have also played the powerball and gained “generational wealth” there, or yolo’ed my 401k for a meme stock. I don’t have fomo over reckless investments such as crypto.
r u aware that most tech stocks and FANG that make up your 401k are down more yoy than the blue chip cryptos or nah?
BTC yoy return: -24%
ETH yoy return: -33%
SP500 yoy return: -5%
Also LOL at the term “blue chip crypto”
if youre going to just go off the s&p500 and ignore what i said u can go to any other time interval then haha. its good sentiment when ppl who never participated r frothing at the mouth that crypto is dead, means to start planning for entrys for the next bullrun. dont worry u can have btc exposure when ur 401k or pension plan is allocated to it in a few years.
Cherry pick whatever time horizon you need, call people who correctly identify crypto as 100% speculative frothing at mouth, do whatever makes you feel like you’re ahead of the curve. I will not shed a tear next rug-pull/burst bubble.
haha its the best asset class since the GFC by far. your understand its possible not to buy the top and take profit correct? enjoy your s&p gains im sure those over the long run will surely beat inflation for a sweet 5%
I lost $2k lol, life goes on though.
lost $30k 🙁 , hoping a class action lawsuit works out but not holding my breath
If you truly “believed” in crypto, then you would stop trying to equate its value to non-crypto. You lost X pseudo-coins, period. No $ was lost, otherwise, it’s a tacit admission that crypto is a sham (which it is).
Similarly put, people buying/selling “crypto” for actual, gov’t backed currency, means the seller doesn’t “believe” in crypto, they “believe” in your actual currency (since they’re willing to trade you the crypto for it).
These violent delights have violent ends.
Genuinely curious, how does an algostable coin pair like UST/Luna work anyway? I understand that one is burned when the other is minted but the question become what gives the pairing itself value? 2 worthless cryptos do not a valuable asset make yet UST gets to call itself a “stable coin” that’s purportedly pegged to a hard currency.
“faith”
It’s a fiat crypto.
nailed it.
Demand for Luna was all that gave value to UST. Totally based on faith Luna would be worth more in the future.
They tried to convert it to a hybrid faith/asset model by backing it with a couple billion of bitcoin and it ended up like many OHM forks 4 months ago – the promise to protect the system with reserves gets seen as a billion dollar liquidity tank to be sucked away by market manipulation.
My guess is good odds that UST would still be at $1 if they hadn’t promised to defend it. With all the degen lending there wasn’t anywhere near 40 billion in extractable value there. It got big enough to short large amounts and the promise of a couple billion in bitcoin exit liquidity, with receipts, made them a target.
Or maybe someone just fat-fingered the 3pool to 4pool transition. *shrug*
I personally lost ten times your loss.
sorry for your loss 🙁