The crypto bubble might have just burst, a top 10 stable coin jumped off a cliff and now all crypto is crashing hard

[05032-Mendicant-Bias]

As much as I'd wish for Blockchain to crash and burn, the time is not ripe yet. The Short Sellers (allegedly) only took out Terra with their wealth transfer move.

 

The wider Blockchain ecosystem is healthy as it is founded around the triad:

1) BTC: Holds the bulk of whales liquidity

2) Tether/Bitfinex: Allow printing of free currency and to fake volume and inflate price

3) ETH: Acts as secondary whale liquidity holding and act as base for fancier schemes like NFTs, Play-To-Earn and more

 

  

On 5/13/2022 at 1:23 PM, Mark Kaine said:

i cant imagine no one told them about the obvious risks.

You would be surprised, scammers are good at their swindling craft. UST/LUNA were marketed as a stable way to get a reliable 20% per year intrest to fight inlfation.

 

On 5/13/2022 at 2:09 PM, Heliian said:

Welcome to the future!  Don't be left behind!  Fortune favours the brave!  

Ha, V.I.P.s luring in unwitting new blood into the scheme just before a crash, it never gets old
 

[Mark Kaine]

55 minutes ago, 05032-Mendicant-Bias said:

You would be surprised, scammers are good at their swindling craft. UST/LUNA were marketed as a stable way to get a reliable 20% per year intrest to fight inlfation.

ok yeah good point,  didn't think of it like that... just thought its common sense anything crypto is highly volatile. But may not with uninformed folks i guess. 

[Error 504]

i don't think it burst just yet, but it's deflating right now, and there is definitely a tear somewhere in the bubble.