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FatManTerra's profile
FatMan
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@FatManTerra

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FatMan

@FatManTerra

FatMan from the Terra Research Forum I provide research, updates, and analysis on the Terra situation as it unfolds. Views are my own opinions.

fatmanterra.eth
Joined May 2022

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    1. FatMan‏ @FatManTerra May 24

      I was having a discussion about this, and it's a fascinating moral question. Do Kwon created a machine that would implode eventually if built up on a foundation of gross impropriety. The peg attacker kick-started the collapse and actively ruined lives, but sped up the process.

      108 replies 31 retweets 205 likes
      Show this thread
    2. Algod 🫐‏ @AlgodTrading May 24
      Replying to @FatManTerra

      The protocol was always going to fail. People should stop blaming the attacker, it’s utter nonsense. Even without the attack with current market conditions it would have happened.

      23 replies 8 retweets 239 likes
    3. FatMan‏ @FatManTerra May 24
      Replying to @AlgodTrading

      Absolutely - I'm inclined to agree - but I do believe the 'natural collapse' may have been a ways to go - maybe a few months, maybe a few years? Nice trade BTW, incredibly sigma

      8 replies 0 retweets 53 likes
    4. ...‏ @_dot_dot_dot___ May 24
      Replying to @FatManTerra @AlgodTrading

      Unclear which straw broke the camel's back here. Guess what - when you buy $1.5b of bitcoin (and sell 1.5b UST to do so) you put pressure on the peg. Especially in a weakening market where the anchor demand just wasn't there. How are you sure it wasn't that that did it in?

      2 replies 0 retweets 5 likes
      FatMan‏ @FatManTerra May 24
      Replying to @_dot_dot_dot___ @AlgodTrading

      That definitely weakened the system - it was a part of TFL's irresponsibility - but the depeg event chain reaction does indeed appear to have been started by an outside attacker

      5:41 AM - 24 May 2022
      • 5 Likes
      • UST victim CosmoPotatoes Gepard Gwen Moon L
      3 replies 0 retweets 5 likes
        1. ...‏ @_dot_dot_dot___ May 24
          Replying to @FatManTerra @AlgodTrading

          Its really hard to determine started. What you call attacker may have just been someone smart who saw things destabilizing and got out early. This was just a bad idea. If you want to create "hard money" it needs to be robust to all sorts of things. Terra definitely wasnt

          1 reply 0 retweets 1 like
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