Crypto Critics' Corner

Terra, Luna, and Algorithmic Stablecoins

May 4, 2022

31:43

Creator website

Highlights

AI Chapters

Episode notes

Algarhythmic Stable Quotations - I Don't Get It

02:32

Why Do So Many People Believe in Terraform Labs?

02:49

Is There Anything Even Illegal About Luna and Terra?

02:15

Introduction

4min

What's Going on With Terra Stable Coins?

2min

Why Do So Many People Believe in Terraform Labs?

3min

Dokuan Is a Genius, Everybody Pay Attention to This?

2min

Is There Anything Even Illegal About Luna and Terra?

2min

Algarhythmic Stable Quotations - I Don't Get It

3min

I Don't See the Utility in Terra

2min

Dokon's Guaranteed 20 % Interest Rate

4min

The Cryptocurrency Industry Is Totally Deflated

2min

10.

Stable Coin Isn't Interesting, It's Not Interesting

2min

11.

The Story Fucking Sucks

2min

12.

Decentralized Stable Coins Are Not Fuck, Dude.

4min

Today Bennett and Cas talk about Terra, a stablecoin that uses an algorithm to stay pegged to numerous currencies (mainly the US dollar). Recently, Do Kwon, the creator of Terra, and its token that buoys the stablecoins it supports, Luna, decided to spend $10 billion worth of Luna's reserves to buy Bitcoin.

What does this even mean? Let's figure it out.

Bennett's appearance on the Blockchain Debate Podcast to discuss algo stablecoins: https://podcasts.apple.com/us/podcast/motion-algo-and-fractional-stablecoins-are-flawed/id1493609456?i=1000530171560

The FUD Letter's discussion of Terra: https://bennettftomlin.com/2022/02/06/is-terra-stable-the-fud-letter/

The episode was produced by Asher Hirsch and recorded on Sunday, April 24th, 2022.