1/ The only bankrun that happens during bear markets is on my time
The cost to saying made up clickbait is close to none:
1. Likely stablekwon won't respond to it
2. Maybe im right
3. Even if he responds and I'm wrong, I get more engagment
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2/ twitter.com/JackNiewold/st
Luna does get burned 1:1 with UST minted - all you need to do is to try to do it yourself
Go to the "swap" section of Terra station, mint 100 ust, and check out supply changes on the dashboard section for Luna
But of course he didn't try it
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1. 'BURNED' $LUNA DOESN'T GET BURNED
Previously if you swapped $UST for LUNA, it would burn $LUNA.
NOW, if a user creates $UST, some percentage of the LUNA is used to buy $BTC.
Obviously, this creates inflationary price pressure on $LUNA.
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So it's bad for LUNA price, for one.
But it's also weird to me that this core 'burn' mechanism has now been used to just market sell, then buy BTC.
That's not a burn, that's not deflationary at all.
(Source: this vid with do kwon, 45m youtube.com/watch?v=XARHjN)
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4/ twitter.com/JackNiewold/st
"ICO profits" imply there is a party profiting
If building reserves is "ICO profits", then wait, hold up, 80% of all spot volume on all crypto happens through the profits Tether has taken to build its 1:1 dollar backing
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2. THE BTC BACKSTOP IS PAID FOR BY ICO PROFITS
The $BTC backstop is $10b, and paid for with a few different sources:
1. $3b from LFG (which is funded by the ICO), in the form of $LUNA, which is further downwards price pressure on $LUNA
2. $7b of seignorage profits
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5/ twitter.com/JackNiewold/st
I don't understand how the source one quotes can be from an anon on Twitter
Luna that gets burned is not sent to a wallet, it is deducted from the total supply
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3. BURNED LUNA IS HELD IN DO KWON'S PRIVATE WALLET
Profits from seignorage set to be 'burned' (sent to an unusable wallet) go to Do Kwon's private wallet first.
Not a contract, not even a multisig: Do Kwon's private wallet.
twitter.com/0xfr_/status/1
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twitter.com/JackNiewold/st
SDT was minted in reserves at genesis to allow minting in case mint demand > mint cap while liq is low, and of course was disclosed at length
Now burning as of Oct 2021 via gov:
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1/ A new proposal to burn the remainder of the SDT Stability Reserve (711,003,512 SDT) is now posted on Agora 
agora.terra.money/t/burn-the-rem
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7/ twitter.com/JackNiewold/st
Refuted literally every point, but of course when one pulls things out of their ass they expect lots of backlash and don't expect to be responding.
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Some observations:
1. A lot of backlash
2. No one refuting or disproving my points
Call me whatever you want
But you can't call me wrong
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1/The more this debate continues, the more there is a need for educational content and FAQ’s to just refer to and redirect in a constructive way,
Rather dragged into discussions at all levels incl grassroot levels day to day..
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This happens everywhere bro! Can't deal with people who can't read first and come .. what's the point, we put out more details only for them to not read again :P
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Also this isn't something Do Kwon or TFL cant just change at will. It would require a governance vote to changes a core mechanism.
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Have you followed the gov votes on mirror and anchor in the last months? If you had, you'd find the governance questionable, to say the least
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twitter.com/stablekwon/sta When will the transition back to seigniorage (á la pre-Columbus-5) to fund $BTC purchases happen, if 100% of LUNA is still being burned? This is what likely assumed was already happening.
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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.
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