This guy is razor sharp, extremely competent and knows more about crypto than 99% of people. If he can can get over confident / over leveraged, anyone can. Pays to be extremely cautious.
https://twitter.com/larry0x/status/1...4BvaRjkGHwjsGA
This guy is razor sharp, extremely competent and knows more about crypto than 99% of people. If he can can get over confident / over leveraged, anyone can. Pays to be extremely cautious.
https://twitter.com/larry0x/status/1...4BvaRjkGHwjsGA
Last edited by Gollygordon; 11-05-2022 at 07:48 PM.
Further to the peg break, strong rumours implying that large hedgefund behind an attack on the peg along with massive BTC and LUNA shorts. Walked off with min 1bn profit.
Similarly, hedge funds have been trying to short USDT with zero success for years. Can we gleam any lessons there?
The lesson here is probably "anything to do with crypto is mostly baseless rumour and wishful thinking."
(Really, this sounds about as rational as WSB and Gamestop.)
Certainly not the lesson I was implying sir!
Anyway, on the off chance anyone is interested, here is some more colour behind the rumours of a coordinated attack on UST peg. This is one of the craziest days (actually 72 hours) of drama I've ever experienced.
https://twitter.com/IOHK_Charles/sta...L-zxO6fCiEShjQ
Sir, where can we read more of your work? Serious q, big fan -- wish I had saved the writings of mrpappap before you deleted the account!
ps Cardano guy's story really doesnt seem plausible to me. Can't rule out someone playing Soros but seems more likely to me that Luna/UST was just a ponzi that went the way ponzis go.
Last edited by HWH; 11-05-2022 at 11:35 PM.
Haha, thank you. No other writings I'm afraid, other than what is here. Done some writing work for various projects but all under NDA and I think not even released yet. My ranting here seems to coincide with periods of high drama in the crypto markets - must be the adrenaline.
Have a twitter account @lubow2 if interested, but tbh I wouldn't expect to derive much value there. Mainly me talking crap with my pals. Cheers...
For sure possible. Would be amazing if details came out.
What about borrowing MIM (and potentially relenting elsewhere)? If it's clear these pegs can break but only in one direction, makes sense to use them as borrow assets?
Seeing this whole UST thing as a potential dress rehearsal for the ultimate USDT depeg in the next few years... Just swapped all of my borrow into USDT, even though the rates are higher.I would also add that I've reduced USDT exposure a lot. Probably not an issue but they are known to hold a fair chunk of commercial paper as reserves
I am guessing certain people on here haven’t lived through one of the financial crises and know better.Original Post Deleted
collateralised my arse!