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Read_626 - Digital Alchemy, A Post-Mortem of the Crypto Crash [Lyn Alden]
Bitcoin Audible

Read_626 - Digital Alchemy, A Post-Mortem of the Crypto Crash [Lyn Alden]

May 19 2022 • 50m

Show Notes

"Several exchanges in the industry fuel bubbles for a quick buck as well. If something starts to get momentum, including meme coins like DOGE or SHIB that don’t realistically have a substantial future, they promote those coins to their users, which can suck retail investors into buying the bubble top. Plus, a lot of Youtube and TikTok influencers pump small coins, and use their audience as exit liquidity." - Lyn Alden

For those of you who may be unaware, there was a recent blow up of a deca-billion dollar LUNA and TerraUSD algorithmic stablecoin. Essentially the entire market capitalization of UST and LUNA vanished in a matter of hours in a spectacular economic death spiral. How did this happen and what was the source of such an incredible risk of what had recently become one of the most promising "crypto" projects in recent months? Find out in Lyn Alden's Post-Mortem of the Crypto Crash.

Check out the original plus Lyn's other amazing work on her blog:
https://www.lynalden.com/digital-alchemy/

Another great piece from Lyn if you want to get ahead of the show:
https://www.lynalden.com/what-is-money/

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@clarkian
2,222 sats
May 20 2022
Keep up the great work. congrats on becoming a father. I continue to pray that Bitcoin becomes the Way
@letter6173
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May 19 2022
i owe you for so many years of great content. Thank you
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May 24 2022
lfg