Row 26223

Row ID: 26223 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 26223 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

You do understand that projects PAY to be listed on CEX's..... right?

Think it's $80k to list on Binance, plus $60k of the token.

Being listen on a CEX gives the appearance of legitimacy,  the reality however is that the project just paid a boatload on money in exchange they purchased the appearance of legitimacy.

And it doesn't take hindsight.... it was LITERALLY laid out in LUNA/UST's white paper exactly how the mechanism worked to maintain the stablecoin peg! The math made the ASSUMPTION that value in the ecosystem was in a CLOSED loop. Anyone who bothered to read it and actually PROCESS how that mechanism would work in the real world immediately saw the fundamental flaw in it when it came to a situation that put fear into holders in that ecosystem.... a certain % of them WOULD be guaranteed to stampede for the exits and that would cripple the mechanism and cause a significant % to further leave once the mechanism failed to hold the peg. Once that happened, it was always going to result in a run away minting death spiral!

It was with good reason I didn't touch LUNA or UST with a single $!

It was a steaming pile of dog shit from the start that was obscured by some fast talking from the cult leader in charge of it, who's own ego and hubris directly caused how bad it unwound! He fuckin KNEW the risk was there, but he deliberately discounted it as it fell outside the mean and wouldn't be a problem unless it became a problem!

You can't have a SYSTEMATIC fault in your system and then discount it..... it's a fuckin SYSTEMATIC fault! That means they entire system is just waiting to IMPLODE, while everyone HOPES it doesn't!

The fuckin height of arrogance!

And here we are.... systemic failure!

Why TF would anyone trust that shit! The fact so many did, tells me clearly that most people are crowd followers and AREN'T  really doing their own due diligence!

The fact a heap of people "trusted" it is meaningless, it just speaks volumes about the lack of weight I would attribute to those peoples judgement in my own due diligence!

FieldValue
text You do understand that projects PAY to be listed on CEX's..... right?  Think it's $80k to list on Binance, plus $60k of the token.  Being listen on a CEX gives the appearance of legitimacy,  the reality however is that the project just paid a boatload on money in exchange they purchased the appearance of legitimacy.  And it doesn't take hindsight.... it was LITERALLY laid out in LUNA/UST's white paper exactly how the mechanism worked to maintain the stablecoin peg! The math made the ASSUMP…
label r/cryptocurrency
dataType comment
communityName r/CryptoCurrency
datetime 2024-05-21
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url_encoded Z0FBQUFBQm5Lak9TZWlNemlLRmVUUlpsQWdLV1dVd2hqLWp0bmZhejBXQkRPTlR4NkJYY3B0OVdBdko4MkxKZjRKakkzeHJPa3Z6S1dRa1ZrUElKUzU4Mmo2b25YUFFLNnZmbFVYLTRPQm9RZ3FrR0pORlQ4UGR0UGY0MXJSbXYzVDFEajg4QzZIVmhFZzF5eWd0bVluRmlmQkNnSWFwNktaWFFZbHhBcG1IQTZRai1LR052bHpKdVhfQ2Y2dE9sMzhFNGZhTFQyRGY1bXJPal90ZVNXODZ5d1pnbi1FV0k3UT09

Raw Record

{
  "text": "You do understand that projects PAY to be listed on CEX's..... right? \n\n\nThink it's $80k to list on Binance, plus $60k of the token. \n\n\nBeing listen on a CEX gives the appearance of legitimacy,  the reality however is that the project just paid a boatload on money in exchange they purchased the appearance of legitimacy. \n\n\nAnd it doesn't take hindsight.... it was LITERALLY laid out in LUNA/UST's white paper exactly how the mechanism worked to maintain the stablecoin peg! The math made the ASSUMPTION that value in the ecosystem was in a CLOSED loop. Anyone who bothered to read it and actually PROCESS how that mechanism would work in the real world immediately saw the fundamental flaw in it when it came to a situation that put fear into holders in that ecosystem.... a certain % of them WOULD be guaranteed to stampede for the exits and that would cripple the mechanism and cause a significant % to further leave once the mechanism failed to hold the peg. Once that happened, it was always going to result in a run away minting death spiral! \n\n\nIt was with good reason I didn't touch LUNA or UST with a single $! \n\n\nIt was a steaming pile of dog shit from the start that was obscured by some fast talking from the cult leader in charge of it, who's own ego and hubris directly caused how bad it unwound! He fuckin KNEW the risk was there, but he deliberately discounted it as it fell outside the mean and wouldn't be a problem unless it became a problem! \n\n\nYou can't have a SYSTEMATIC fault in your system and then discount it..... it's a fuckin SYSTEMATIC fault! That means they entire system is just waiting to IMPLODE, while everyone HOPES it doesn't! \n\n\nThe fuckin height of arrogance! \n\n\nAnd here we are.... systemic failure! \n\n\nWhy TF would anyone trust that shit! The fact so many did, tells me clearly that most people are crowd followers and AREN'T  really doing their own due diligence! \n\n\nThe fact a heap of people \"trusted\" it is meaningless, it just speaks volumes about the lack of weight I would attribute to those peoples judgement in my own due diligence! ",
  "label": "r/cryptocurrency",
  "dataType": "comment",
  "communityName": "r/CryptoCurrency",
  "datetime": "2024-05-21",
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}
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