[HN Gopher] The Depegging of UST ___________________________________________________________________ The Depegging of UST Author : denotational Score : 17 points Date : 2022-06-05 21:16 UTC (1 hours ago) (HTM) web link (jumpcrypto.com) (TXT) w3m dump (jumpcrypto.com) | [deleted] | TameAntelope wrote: | So is this presented as "evidence" to suggest there was an attack | on Luna, that its depegging into a death spiral was intentional | by some person or group of people? | greatpostman wrote: | Yeah someone found a flaw and took it down | Kiro wrote: | That's probably what happened and not a conspiracy theory but | that doesn't make Luna or algorithmic stablecoins less bad. If | they are vulnerable to attacks, then they're not stable. | wmf wrote: | I don't see any attack. It looks like a bank run caused by | people exiting crypto. | | It has been known for years that algorithmic stablecoins cannot | survive a bank run so maybe Wallet A knew that their | withdrawals had a probability of triggering collapse, but I | still wouldn't blame them. | adhesive_wombat wrote: | If code is law and its all deliberately unregulated, is it an | attack, or is it simply an innovative leveraging opportunity? | wmf wrote: | I don't even see anything innovative here. People withdrew | their money. ___________________________________________________________________ (page generated 2022-06-05 23:00 UTC)