I just saw an interesting tweet from November 2021 in which one user explained how its possible to break Terra and make shit load of money in the process and all you need to do it is 1 billion usd. And of course having "detailed understanding of the Terra Ecosystem". Do Kwon reaction aged well.
Jesus, you all are probably going to think I'm an order of magnitude more retarded than usual, but I'm just now learning what UST is and its relationship to Luna and whatever else....I know I don't follow a lot of altcoins, but it seems like this is a very big deal. Hah, you are not the only one who had no clue really about Terra and all of their shenanigans. I started following the situation closely few days ago after shit hit the fan mostly due couple of my friends who lost decent amount of money in this clusterfuck.
Whole that stablecoin mechanism aside, they were giving 20% APY on stablecoin and that's all really you had to know about this. It simply couldn't end up well.
But hey, I had some cash yesterday and bought a little BTC at my local gas station BTCATM. Sucks for the crypto community as a whole, but I actually like to buy low.
Same thing here, I also seized the opportunity and bought myself some bitcoin at a hefty discount. 