Cryptocurrencies

[OngBonga]

You'll have to click the image to read it.

Context - Do Kwon is the founder of $LUNA (terra), and here he's calling someone retarded for detailing in November 2021 how a wealthy attacker could bring down the coin, making a fortune in the process.

Guess what happened? Luna got attacked. Two days ago it was trading at around $65, today it dipped to $0.70 and is currently trading at $1.13. Someone (BlackRock and Citadel hedge fund managers allegedly) has made an awful lot of money, around $800m by some estimates (citation needed), while lots of regular people have seen investments wiped out. I'm in no doubt this has caused suicides.

Fucking brutal day for crypto, one that will live long in the memory of those who witnessed it.

[boost]

(BlackRock and Citadel hedge fund managers allegedly)

probably not, relative to the reputational hit, this is chump change to them.

Fucking brutal day for crypto, one that will live long in the memory of those who witnessed it.

attention spans are short, people forget that bitcoin halved from 60k to 30k twice in the last year

I'm in no doubt this has caused suicides.

What actions on scale don't result in blood? I don't mean this dismissively, but people focus on one event and want to wag their fingers. But you can't build a fucking bridge without a very real risk of someone dying.