@skquinn TerraUSD, which is supposed to be a *stablecoin* pegged 1:1 to USD, went down to 0.05USD at one point. Currently it holds around 0.10USD.
@rysiek Wow. That's pretty messed up; the whole point of a stablecoin is for it to keep its value to what it's pegged to.
well, it is still not honest.
The "up to"-part could be described more transparent.
The honesty depends on the meaning of 'crypto' they use..
crypto
krĭp′tō
noun
1. One who covertly supports a certain doctrine, group, or party.
2. Cryptography.
3. An element in words of Greek origin, meaning ‘hidden, concealed, not evident or obvious.’
https://www.wordnik.com/words/crypto
I'd say it can mean either 1) or 3) where they honestly imply that it is not transparent. And then you can add arbitrary text ;p
@rysiek So we know what the ceiling is.
Where's the floor?
@dredmorbius the floor kinda fell off
@rysiek I'd just like to make the point that that is not normal.
@dredmorbius hey, I live in a place where floor is literally lava. So.
@rysiek You should go outside the environment.
@rysiek ... and as I've said in another context ... if that's the ridge you want to die on ... 😺
(The original context ... had to do with cranberry sauce. Because Reasons.)
@rysiek They were making giveaways of 10k Luna on Twitter. This after the collapse of said coin. Makes it look like they only want to give trash away. Also, "Stablecoin"s still had a volatile chart, despite the popup always saying it was worth the same...
@rysiek Is that how bad the crash was?