Post
Topic
Board Economics
Re: Is TERRA/Luna kickstarting a new Bitcoin Standard?
by
fillippone
on 11/05/2022, 09:36:47 UTC
Who thought this was a good idea?

I honestly did. We have many reserves to “scare” attackers trying to depeg the stable coin.
But I underestimated human greed: if there is a profit easy to be made, someone will inevitably try to yield that.
So, this mechanism was challenged and failed miserably.

Someone made a good profit, and someone lost a lot of money; this was inevitable and of no interest to me.

What I want is: lessons learned.
I think we need some kind of scaling solution. Probably one distant day it will be possible to have a stablecoin in LN using Taro. But in the meantime, we have to work with what we have available.

Anyway, the amount of research is amassing on my “desk” and I am lagging.