Quote from: cAPSLOCK on Today at 01:57:23 PM

Quote from: El duderino_ on May 14, 2022, 10:03:34 PM

Quote from: Torque on May 14, 2022, 06:54:53 PM

All this drama and garbage surrounding LUNA and TerraUST, meanwhile exactly zero people can explain to me the purpose, utility or usefulness of either one. Especially when other solutions already exist.

Waiting for Do Kwon himself to come in here and debate me on his garbage coins.

Because he would lose that debate soundly.

The emperor has no clothes, and his size is not size.

Exactly that.

All those who are arrogant are an abomination to the Lord; be assured, they will not go unpunished.

Before his downfall a man's heart is proud, but humility comes before honor.

A man's pride shall bring him low, but honor shall uphold the humble in spirit.

The purpose of "stable"-coins is: To create a solution for subverting the interdiction of governments/banks to exchanges that they are not allowed to use fiat for non-KYC users.

But now KYC is mandatory on most exchanges. So the use of things like USDT would not be justifiable. And the use of traditional fiat USD transaction would be more ideal. And it is also the problem that if you have 1000x places to buy BTCiTcoin or other crypto, then volume pressure might not be concentrated just into a single spot / point of interest. If a concentration of such magnitude would be present in just one spot of the world and only on one exchange then pressure of buying or selling would increased and not spread on all over every fake USD coin that is backed by nothing. At least for the fiat they had to prove their amounts in a bank account. Now they don't. It is a fake crypto copy. This is money diluted and washed trough those fake-coin-tolls thingies. It is not price discovery, it is manipulation. Roll Eyes

Only place that we can still use the "stable"-coins are the offline/online for merchants and ATM machines or decentralized exchanges. Tongue