A lesson

I really hope this is gonna serve as a lesson to the Terra community.
People that have been warning about this (and other problems) have been spat on and labeled as fudsters by most of the community.
People have to realize that it’s okay to disagree, to have contrarian takes and to confront people, whether it be an anon or Do himself.
People that exited Luna/UST before this are not the problem, the ones that have turned a blind eye on all these problems are the ones that lead us into this disastrous situation.

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Crypto Industry needs to wake up!

Stablecoins in general are stupid. This is not what Bitcoin was made for. This is not decentralizing. If you want decentralized finance, why then working so hard trying to mimic / mirror to a centralized, debt driven slave coin, owned and managed by private banking families? This is not just about Terra, this is about the future of crypto industry. Even more, this is about the freedom of hunanity. Because the current sysem is sick and we turn this place slowly but surely in a hellhole for ourselves if we do not start to recognize it.

The obsession to have a stable-coin to fiat coin is ‘lunatic’ imo :wink: . We try to be decentralized but then suddenly we start building it on top of this centralized system and USD coin. eeeehhm whaat?

We already had on/off ramps for FIAT, without stablecoins. Bitcoin is the coin to pair with and to value something with.

If you really want a stablecoin, then make it stable against bitcoin ;). TBTC for example, and back it with Bitcoin. That will actually work. Not UST backed by Bitcoin. Because that is just opening the door for these banksters to destroy.