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I just can't get it out of my head that the $UST $BTC reserve strategy is really just an acknowledgment that algorithimic stablecoins simply don't work, and instead of abandoning the tech, they're just making it "too big to fail".

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Do Kwon

@stablekwon

Replying to

@ChrisBlec

twitter.com/stablekwon/sta I usually go for a run when I can't get something out of my head, highly recommended!

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Do Kwon

@stablekwon

· Apr 1

Replying to @KryptoDr and @ChrisBlec

Not sure if its an argument? I am willing to accept that Chris can't get a hypothesis out of his head We move from a position of strength - $UST has grown to the largest decentralized stablecoin without exogenous reserves. $BTC reserves don't save $UST, only make it stronger

8:25 AM · Apr 1, 2022Twitter Web App

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Riding Japan

@RidingJapan

Apr 1

Should delete this one. Thought u were serious xD

Replying to

and

you need to step back and think of what is money to begin with. In the old days countries use to back their fiat with gold but that is before they start printing like a maniac and stopped caring