Here is the post for the Daily Leo Talk. In preparation for the upcoming Microblogging features, this is a good place to start conversations, posts charts, memes, trades, or anything else that comes to mind.
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Source
What do you think of this tweet by CZ?
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The last part is very right under any circumstance.
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I agree. I am not so sure what the best trade-off is for the inflation of tokens either.
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I think a better solution is to launch new products that people can use. Trying to solve the existing is very laborious and difficult, and even the problems can deepen.
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Tbh... I think this is the end of the project. Who knows
There may be other addition in the future to make it appealing to user's, but for now, I don't expect much Luna.
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I agree with you on this point, there is no significant reason to expect too much from LUNA. I just wish that these bad days will be over before.
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I agree with him on this one. That is why Hive has value and other L1s, not so much.
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This comment gave me an idea for a post I can write where Hive intersects with cinema. It's the sort of post I used to make during my earlier months at LeoFinance, and it's been a while since I tapped that niche. With other posts ahead of this one in my queue, I expect to publish this post by end of month is not sooner. Actual text won't take long, but I need to do some research and image sourcing first before that.
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It's really more important to build new products that people will use. HIVE does this best.
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What do you think about Terra's plan to revive itself?
Does this really have a chance at all?
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I am simply done with Terra. At least for now. It's like Steem-Hive event. Steem had a great potential to takeover the world but it was too centralized. Then community took action and created Hive. I wish Terra community will either create their Hive without Terraform Labs owning the whole place or do something greater with their learnings. ✌️
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It may be time to update the Terra (LUNA) Guide at @crypto-guides, whether it gets support from the larger LEO holders or not.
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I think that would be hard. Most of the people over there were chasing yields, right?
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If they are serious about reviving it and the support of their community is still solid, perhaps they have a chance. Time will tell.
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What could the distribution of 1 billion new tokens solve? Its current price is about $100K. I don't know much about this, but when I think about it logically, it seems difficult to solve the problem in this way. Does anyone know exactly what this means?
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I am not sure how they do it either. To me, the fact there was nothing really on chain shows that it was not worthy of holding up.
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I don't have any investments in Luna, but I would love for it to be revived because there are so many losses. But these steps do not look promising.
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I want all crypto to succeed. We are still a very small world.
However, I know, just like the early days of the Internet, there were a lot of failure to learn from.
This is going to be the same.
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I absolutely agree with you. There is much to learn. It is sad to see such collapses in the markets, but even if it is painful, all of these are experiences and we need to learn a lesson.
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This would serve as lesson to them, and of course the whole cryptocurrency world should learn from their mistake.
These early days will be full of vulnerability. Just have to keep moving
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It was up by like 1000% last time I checked but I don't know if that's a dead cat bounce or what.
Not sure if they can save this because it looks bad, but I hope people can at least recoup some of their losses
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No, I don't think it really stands a chance because he never stated what he would change to make sure the peg holds.
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If it works, it would work in few years. Not in anything considered near future by current cryptosphere standards.
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No, plane and simple… their name is ruined.
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Ok so I have done a deep dive into what went down on Luna network and the current marker crash. Stay tuned as video will be up in another few hours.
I've added a really cool intro and a roar let me know what you think once it is up in a few hrs.
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REMINDER!!!
Get all those #CANDIES. If enough of us have sugar rushes, we can get the crypto markets flying.
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Thank you as always TM! Got them now. And nice to see the market going well.
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I got 20 candies today. Doubled my earnings from yesterday.
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Thanks for the reminder. Tomorrow will be the big 100 day for me.
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Yep, collected my 10 for today 🥳🎉🤓
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Grabbing 40 candy today.
Thanks for the reminder.
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That's good question from @taskmaster4450le since green light has been dominating for 24 hours now, can we still have hope in reviving of Luna, moreover how long will it take to come back to live.
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I think it will take years before they can regain the trust and that is if the peg can hold during that time period.
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My thoughts exactly. Main obstacle for LUNA revival is not financial, but psychological. Too many people got burned and trust, which is so easily lost, can't be regained, at least not without long and painful effort.
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Yea and the current plan does give tokens to the people prior to the peg being dropped but it excludes the people who bought the dip. Either way, a lot of people going to lose money.
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And let's see how it goes with their plans to revive and what steps they are going to take.
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The truth is that the situation is quite complex, but the proposals to recover the project "seem" viable.😬
This was Tweeted out by the Leofinance account.
$440K in the #Polycub LP.
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Amazing! It's going strong and on the way to 500k and it's just middle of May.
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Adding some right now for @leomarkettalk.
We got a few more rewards plus the power down.
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And that will bring it closer to the month's goal. Very awesome!
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Just added it. Not a ton but every little bit helps.
You are right, every little bit helps move us closer to the monthly goal. Another couple weeks to get there.
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And kudos to you for such a help! Onward and upwards.
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Great! Up to the monthly goal.
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It looks like the pool is slowly getting more funding so I guess the $5 million dollar liquidity will only take another year to build.
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That's good news.
On to 1 million liquidity next...
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Click the image for a full-size view
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What is the purpose of a stablecoin? What is a stablecoin supposed to do? Why should we care about stablecoins?
I think I know some answers to these questions, but for me the bottom line is this: they are pegged to some more-widely accepted asset in order to maintain value within a minimal range of fluctuation.
However, some stablecoins are superior to others even if they are functionally equivalent. So what makes these stablecoins more superior to their peers?
Unlike NFTs, I understand stablecoins good enough to explain them to people and even to use them myself. There's just one question I cannot answer: Why should I care about them?
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Well, I'm not an expert by any means but I think one of the main points of stablecoins is to enable the usage of crypto as payment. It will be easier for businesses and people to accept crypto knowing that their margin won't get crushed hours after they make a sale because the crypto they got as payment just went down 15%
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People are so used to treating cryptocurrencies like stocks (BTC, ETH, etc.) that they forget that they were originally meant to be used as a form of payment. After all, it took a while for someone to use BTC to pay for pizza years before it occurred to anyone to HODL BTC for its price. Stablecoins are closer to the origins of crypto in this sense.
Since stablecoins are pegged in some way or other, their value seems limited, so it's not obvious how people can make money from owning stablecoins. This is where I find myself stuck. For me, it's just a way to get crypto out of a centralized exchange; but after that I don't know how I can make money with stablecoins. Not even big money: just enough (for example) to make up for any fees I've paid out in other, unrelated, transactions.
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I think it's the best way for people to value money. The USD is the world's reserve currency and having dollars represent the value makes it easier to see how much crypto is worth. At the same time, they should be worth $1 so it puts investors at ease when they want to move to cash.
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USD is still the King of Currencies, so it makes sense to have stablecoins pegged to it. Other major currencies have corresponding stablecoins. Then there are stablecoins pegged to physical commodities such as PAXG (gold).
UST is TerraUSD, the stablecoin pegged to USD on the Terra (LUNA) network. This network also has a wide range of stablecoins for other fiat currencies. I wonder how the UST situation is affecting those Terra stablecoins.
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I don't think there are any other Terra Stablecoins because it wouldn't make sense but I could be wrong.
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With nearly 200 fiat currencies floating around, there wouldn't be 200 Terra-based stablecoins, but there are enough to cover the top 10 to top 20 fiat currencies in ForEx, especially regionally.
With the recent slump in BTC, XRP and Stellar are getting clobbered as well. While not stablecoins, these two may get a second look as payments coins or as alternatives for services such as Western Union money transfer.
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I guess it could but I think those pools have huge IL as a people scramble to toss UST into other stablecoins to save whatever they can.
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Norway's communist party proposed to ban Bitcoin last March. Two months after, the proposal was rejected by the Norwegian Parliament. Source
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It's nice to see it rejected and that governments aren't fully onboard to ban crypto.
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Yes, isn't that good news somehow? 😄
!LOLZ
Yes it is good news and I hope more countries do so as well.
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(1/2)@jfang003, I sent you an on behalf of @rzc24-nftbbg
Europe's left wing parties are generally hostile to Bitcoin. Recently they almost achieved EU-wide ban on Bitcoin mining.
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Hopefully, the decision of the Norwegian Parliament will be a precedent for other European governments.
Leftists are generally hostile to anything involving money. Since they don't know how to create wealth (money, yes; wealth, no), for them it's always a zero-sum game. It doesn't help that leftists tied their fortunes to an ideology based on debt and all the ills associated with it.
The tendency of leftists is to bring everyone else down so that everyone is equal in misery. The problem is that that's been the default condition of humanity, so it's an easy thing to do. Much harder is to raise the standard of living so that people can rise out of poverty by acquiring wealth. This is what has happened for the last 5 to 10 centuries.
Some liberals are also leftists, but no leftists are liberals (as the term "liberal" had been used until recent years). This is becoming more apparent to liberals now.
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