TerraUSD crash led to vanished savings, shattered dreams

ntoskrnl wrote: post #5

> TerraUSD was touted as a blue-chip cryptocurrency. Let me stop you right there. Terra was a barely 2 year old shitcoin. I don't think you know what "blue-chip" means.

Who are you talking to? WSJ is correct: it was touted as blue-chip. It was not.

Re: TerraUSD crash led to vanished savings, shattered dreams

#7

Post by Animats » Wed, Jun 22, 2022, 1:11 AM UTC

Oh, no. They had feeder funds. Stablegain [1] was feeding money into them:

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There are people hit by this who didn't even know they had exposure.

[1] https://web.archive.org/web/20220513142801/https://www.stabl...

Re: TerraUSD crash led to vanished savings, shattered dreams

#8

Post by dubswithus » Wed, Jun 22, 2022, 1:12 AM UTC

arcticbull wrote: post #4

sbf501 wrote: post #2

And an avalanche of "I told you so". Don't forget that part.

I mean, we did tell 'em.

Who did you tell?

Re: TerraUSD crash led to vanished savings, shattered dreams

#9

Post by joshjdr » Wed, Jun 22, 2022, 1:14 AM UTC

ntoskrnl wrote: post #5

> TerraUSD was touted as a blue-chip cryptocurrency. Let me stop you right there. Terra was a barely 2 year old shitcoin. I don't think you know what "blue-chip" means.

In the defense of WSJ:

>was touted as

To quote another HN comment:

>I mean, we did tell 'em.

/s

/shrug

/eye roll

Re: TerraUSD crash led to vanished savings, shattered dreams

#10

Post by sumy23 » Wed, Jun 22, 2022, 1:14 AM UTC

sbf501 wrote: post #2

And an avalanche of "I told you so". Don't forget that part.

People are so smug when they say “I told you so.” It really bothers me. On every negative story about crypto, so many people comment “hur dur financial regulation dur”. But that’s so easy to say after the fact. If these people really could foresee these events happening, then they could have made a lot of money by taking short positions. That would be a lot more impressive to me than taking cheap opportunities to feel inferior at others’ expense by saying “I told you so” after the fact. As far as I’m concerned, you don’t say anything unless you put your money where your mouth is. Anyone can give advice from the sidelines. Show some conviction.

Disclaimer: the only crypto I’ve ever owned was $50 of eth I mined on my GPU.