It’s like when the silverbugs insisted that JP Mogán was manipulating the price of silver down. Why not just invest in JP Morgan stock if you think they’re controlling the markets?
Are you posting in the wrong thread? We’re the JT Marlin stans.
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I had a hilarious poast teed up about how much my various shitcoins have lost since October (I even bought a little Bitcoin at $66k lol) but wow it’s all really just going to zero isn’t it?
Bitcoin isn’t going to zero - it will be fine and it isn’t going anywhere. It’s just the backside of a retail investment bubble caused by excess disposable income and too much isolation that fleeced people into investing in the some of the stupidest shit in human history. Bitcoin isn’t part of that group.
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Lol I like that the lede that shows up in the Discourse preview says “as low as 95 cents.” Man, if you think that’s bad, you should open the article and see what the updated number is! (69 cents, nice)
95 cents doesn’t even seem to be newsworthy, seems like WSJ blew their load a bit soon and got lucky that it kept plummeting.
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Is that guy in the glasses some prominent NFT person?
Can we quantify the influence WSJ has on the continued drop? Or the entire news media’s influence, if it’s small enough that estimating one particular outlet is loltastic?
Damn, QT got real fat.
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Zero influence
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Is this stablecoin that’s failing the same one that everyone was calling out a few weeks ago saying it wasn’t designed well?
I think that was Tether (USDT) this is Terra/LUNA (UST). Tether is basically just a black box in terms of what is backing it.
USDT could also crash at any time.
Not thinking of tether. I’ve heard the questions on that one for years. This was a more recent one, but can’t remember if it was Terra or something else.
Eta: looking further pretty sure it was terra. Read some things just a few weeks ago basically saying this exact scenario was really likely to happen with terra.
Sorry, thought you meant in this thread. Levine did an article on Terra last month, which spurred some discussion.
https://www.bloomberg.com/opinion/articles/2022-04-19/the-stability-of-algorithmic-stablecoins
edit: IIRC it was excerpted in the discord (I think by goofy if you want to find discussion)
Yes, the methodology is called an event study.
Are apes down $200K?
I was looking at the chart on opensea in ETH. Looked like 200K in USD and a ton of sales
Yeah, I definitely agree that it’s complicated in the sense that there are a lot of variables and future unknowns that could play a role in what becomes valuable and so forth. But how would someone having the only one, especially if most NFT’s are created as unique, be any different than you randomly creating a ZZ “Genesis One” NFT or any card that holds a unique serial #?