Why UST/Terra Collapse Is Good For Cryptocurrency

in LeoFinance10 months ago

▶️ Watch on 3Speak

Cryptocurrency is technology. Hence, it comes under the same evolutionary characteristics as all other tech.

In this video I dicuss how we are already seeing the ebenfit of UST collapse. People are starting to question, analyze, and ponder. This is what leads to innovation.

And that is where forward progress comes from.

▶️ 3Speak


If you learn from failures and mistakes, that is why the development of Cryptocurrencies is important for greater innovation and security, preventing market fluctuations from harming us.

That is how innovation happens.

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analyze and ponder in crypto ? naaah who's got time for that ? it's all about hype and quick gains :P

LOL. That seems to be the path many take.

Fortunately there are those who do follow what is going on and do think about stuff.

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It is not, The fact they solved the issue with more crypto, and gave an unfair and nonsensical pay for each holder was total nonsense, i say that as a holder XD, i didn't sold all of it on the collapse, just to keep some faith in the team, but god damm they prove me wrong with the airdrop and their nonsense. xD All their focus on quick cash sent the coin to the garbage can, the new one went from 18 to 4 in hours... I guess today it will go to 1$ if things are "in luck". Anyway, this just proved that most crypto projects are bunch of greedy people with no spine, and is not only luna labs.

I am sorry you lost money but to say it is not is misguided. In the overall picture, failure is a good thing. Yes there is a lot of greed, and I agree, not just Luna Labs.

The fact they solved the issue with more crypto,

Which obviously did not solve the issue so it is incumbent upon us to find what the solution is.

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I know for a fact that just printing more money ain't the solution to a market crash, so far is good but is a insane solution, if that worked, Venezuela would not be what it is today...

Bang, I did it again... I just rehived your post!
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Another 3speak issue as the video is another duplicate of an old video.

I do think the collapse is a good thing for crypto in general. If this happened when LUNA had 1 trillion dollar market cap, it would have caused massive damage. With this collapse, we know what the downfalls are and we can build the projects to avoid this issue.

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Yeah, you have a point if 1 trillion marketvap did exist but the point TM is making is that UST/Terra wasn't decentralized as it claimed.

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UST/Terra was never decentralized. Everyone knew that it was Anchor paying out the high APR and it was taking in VC funding to do so.

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Anyway now hive blockchain has the highest paying APR now.

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It's interesting to really find out how centralize some chains are claiming to be decentralized.
Nevertheless there are still those that behave like they have some control over here. Truth is with a large stake you still can tip thescale in your favour.

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leofianance is better and very very good

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