benxbt (airbub) 🌖

Crypto alt account. Deep diving $LUNA, but casually exploring all of it. Developer IRL, enjoys plants and bikes and building stuff. ✌️

[benxbt (airbub) 🌖 @benxbt]

@constasino @TheRyanLion That’s my most generously optimistic silver-lining interpretation of it. I’m in the same boat though, gonna be basically on the sidelines for a year.

[benxbt (airbub) 🌖 @benxbt]

@constasino @TheRyanLion Yeah it seems like maybe part of the rationale behind allowing the post-depeg group to have unlocked tokens upfront is to create immediate sell pressure so that they exit the system - some sort of dump is inevitable, so get it over w/ and allow lunatics to dca back in?

[John W. Rich Kid (Wendy’s Fry Cook) @JohnWRichKid]

Don’t Trust, Verify

[benxbt (airbub) 🌖 @benxbt]

@TerezeKalman @asparagoid It couldn’t be - I know for a fact that @asparagoid is a Humble Man.

[benxbt (airbub) 🌖 @benxbt]

@rave811crypto @silversqueezie @lunaterraluna None of these depeg events conclusively disprove the possibility of algorithmic stables working though- I think there could be an algo that works, it just needs to be rigorously tested and shown to be resistant to market pressures like this past week.

[benxbt (airbub) 🌖 @benxbt]

@Billysofny @NicolasFlamelX You can hear people say “remember to take profits!” over and over and over, but this is how you actually learn. A big loss can be a great teacher, the more painful the better. (I’m down pretty bad as well, but trying to look on the extreme bright side)

[benxbt (airbub) 🌖 @benxbt]

Sorry to everyone that’s really feeling this dump, hope you’re hanging in there. The dust will settle eventually and we’ll see what’s on the other side of all this.

[benxbt (airbub) 🌖 @benxbt]

@wassiemayne @ErikVoorhees The y-axis are different though??? NQ1 is up 100% from 2019, $BTC is up like 700%.

Go back to 2012 and the nasdaq does a 5.5x while bitcoin does a 6,888x.......

[benxbt (airbub) 🌖 @benxbt]

Oh but with that said, I did use @alice_finance as an onramp and it worked fucking flawlessly, so I am pretty impressed with what they've managed to accomplish.

[benxbt (airbub) 🌖 @benxbt]

I'm kind of curious how the exchange rate of $aaUST to $aUST works. My balance in @alice_finance is the same as it was a few days ago even though the exchange rate changed ($1 USD = 0.80 UST). If they're keeping deposits in anchor, does that mean they're at a reserve deficit rn?

[benxbt (airbub) 🌖 @benxbt]

I know normies would go crazy if they saw their "$" balance drop by 20% in a day from a brief de-peg, but I sort of expected to see the UST value reflected when I checked the app. If they're showing the USD value, but storing the $ as aUST in anchor, isn't that kind of risky?

[benxbt (airbub) 🌖 @benxbt]

@2_turd @unstoppablebtc @hodlwave But the dotted lines are the halvings, and the next halving is March-ish 2024. The next red arrow (top) looks like it's about three quarters of the way to that next halving, that makes me think April/May 2023.

I wish the x-axis was just labeled.. 😂

[benxbt (airbub) 🌖 @benxbt]

About an hour and a half ago, $bLUNA was briefly 35% cheaper than $LUNA. In the half hour it took me to transfer WLUNA, download a wallet, bridge it, etc, it had dropped to 17%, but still pretty juicy.

[benxbt (airbub) 🌖 @benxbt]

Increased my total stack by 6% just through arbs today. Definitely a bloodbath, but assuming things eventually recover, today was a good day #LUNA

[benxbt (airbub) 🌖 @benxbt]

@RyanJ88006786 @tundra_v1 Yep it only dropped to $0.95 then, but the price of luna reacted the same way that it's reacting now, with an immediate 65% drop.

Or this could be the end, but if so, I'm glad we're getting it over with now rather than having it happen 1+ years from now when stakes are higher

[benxbt (airbub) 🌖 @benxbt]

Damn, now bLuna is at a 27% discount. Would have got enough for a floor galactic punk if I'd waited an hour (whatever, grass is always greener etc.)

[benxbt (airbub) 🌖 @benxbt]

Fuck yeah, just grabbed 12 free $LUNA!

[Sumo 🉐 @SumoKuji]

$LUNA - $bLUNA spread really blowing out. 11%

[benxbt (airbub) 🌖 @benxbt]

@tundra_v1 Yup, reminds me of May 2021. Brief depeg which tanks the price of $LUNA, but once $UST goes back to normal in a few days and people realize that all is well and we might actually have something here... demand explodes.

[benxbt (airbub) 🌖 @benxbt]

@unstoppablebtc @hodlwave So what are we looking at here for that next top, April/May 2023?

[benxbt (airbub) 🌖 @benxbt]

@lunaterraluna I bought the dip at $72, the only pain I'm feeling right now is wishing that I'd waited just a little longer to buy in (sitting pretty otherwise though)