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Do Kwon 🌕
@stablekwon
1/ If I was capable of moving #btc it would not be fit as a reserve asset Fortunately Bitcoin is neutral, it cares not what I nor anyone else thinks, and it is mighty 💪
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Peter Schiff
@PeterSchiff
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#Terra's plan to back a U.S. dollar stable coin with $10 billion worth of #Bitcoin makes no sense. Neither does announcing a major purchase before it's made. A U.S. dollar stable coin requires dollar backing. This is just another attempt to pump more air into the Bitcoin bubble!
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Do Kwon 🌕
@stablekwon
Replying to
@stablekwon
2/ Purchasing significant amounts of bitcoin creates information asymmetry between insiders (prof traders & desks) and everyone else. _I_ am not buying bitcoin, the reserve is for the communities of users that use UST - numbering in the millions Everyone should know.
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Layth Hendi
@HendiLayth
Replying to
@stablekwon
They want to back everything with us dollars. Decentralization doesn’t work that way. Someone give this folk education about decentralized stable coins and how it must be backed with decentralized money to make sense.
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