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$UST with $10B+ in $BTC reserves will open a new monetary era of the Bitcoin standard. P2P electronic cash that is easier to spend and more attractive to hold #btc

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Adam Back

@adam3us

Mar 22

where is the $10bil coming from?

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Do Kwon

@stablekwon

Replying to

@adam3us

It's not 10B today - as UST money supply grows a portion of the seigniorage will go to build BTC reserves bridged to the Terra chain We have 3B funds ready to seed this reserve, but technical infrastructure (bridges etc) is still not ready yet.

2:35 PM · Mar 22, 2022Twitter Web App

Replying to

and

This basically means we’re going to print UST to buy Bitcoin to back UST to increase demand for UST to print more UST to buy more bitcoin, all the while hoping Bitcoin pumps massively so the ponzi doesn’t die

Le Cryptographeur

@Cryptographur

Mar 22

Except it’s not being printed out of thin air. It’s coming from Luna burns. This is key to understand. It’s different than fiat being printed from nowhere. Also different than USDT and USDC, in that they are backed. UST is only stabilized, not backed. Luna & now BTC stabilize it