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Stablecoin Algorithms by dunnmi

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hive-125125 · @dunnmi ·
$0.48
Stablecoin Algorithms 
Problem is, all the sheep who think they understand "how the market works" fail to understand what is happening at a fundamental level and the result is catastrophic fails like these two. So when they say "Guaranteed 20% APY just invest your coins into our "Safe DeFi Wallet" and shit, people do it because they are blinded by the prospect of infinite money
It's the whole Facebook "It doesn't hurt to share this" mentality
Oh I just had $20, $200, $2000 in there it's ok, I knew it was a risk
Multiply that sentiment by a million people... it's a huge problem
Individually people are like , eh whatever I gambled and lost
In other words, there were huge flaws in both of those things which people said were there and the both believed they were 'too big to fail' until a big enough whale came around and said, enough with the bullshit.
In theory, and completely in theory if say tether is in fact 1:1 backed, no possible way you could cause it to untether.
But with made up ponzi algorithms and shit, it's very obvious that there is a flaw just waiting to be exploited.
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