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They were on the wrong side of a massive bet and lost.

Let's take the reverse and say they were on the right side of the bet and made millions and left everyone else behind to wallow relatively "poor".

Would they feel sorry for those who didn't take the bet?


For many/most, a stable coin was the exact opposite of a bet. It's not mean to grow in value, it's not meant to lose value, it's just meant to follow USD. They didn't think they were taking a bet, they thought they were storing their assets in something equals to US dollar. That's what the whole industry has been telling them, that's why they are called STABLEcoin.


Whats the point of storing your life savings in something tied to the US dollar instead of just holding it in US dollars? I genuinely don't understand.


So, several answers - for someone in a priviliged economy, you can more easily deploy this capital to gain a return (deposit in a dex, etc). For people in less favorable conditions without access to USD, it's a way to access a relatively stable currency.


They weren't betting on Terra though, they were betting on Luna, which isn't pegged and is obviously a bet.


I've got a stable bridge to sell you, only $10k.


But wasn't that the big pull of crypto? Decentralized, unregulated, blah, blah, blah?


What type of usage volume are we talking about here?


I reject the premise


None of that pays the mortgage, though.


That was my thought. What is this rag?


78% of Republicans is actually pretty dreadful. I would expect that number to be closer to the mid 90s for a party's former president. Can you imagine what the numbers would be for Obama?


Not true. Freedom of speech in the US prevents the US government for levying consequences against you for what you said. This is not the case in North Koreas


That's only because they couldn't care less what you or I say most almost all of the time.

Instead, democratic governments (especially violence-shy Western ones) use the Official Secrets Act [or local equivalent] to prevent the people that are privy to information the governments do care about from ever talking about it.


Is that a problem?


So is lack of sleep. If people are working more, they may be sleeping less.


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