Last week, 5/12/2022, the crypto coin Luna, which trades on the Terra platform, crashed. There are far more technical analyses available, but this post describes the major issue with “stable” coins. You won’t be suprised to learn, they’re ignoring a fundamental principle…
Most stable coins are an attempt to add central banking philosophies and processes to the crypto currency innovation. In my opinion, the attempt is bound to fail because central banking and crypto currency are fundamentally opposed. It is not possible to use centralized processes with decentralized currency.
Nobody knows, although Shadowstats has a traditional measurement, how much the US Dollar has been inflated. The US House of Representatives voted themselves a 21% pay increase, so that’s an indiciator. And the prices of gas, cheese, and other necessary things for life seem to be in that same range of 40+ percent increase over the last couple years.
Stable coins, pegging themselves against the dollar, have to devalue themselves at the same rate, or they become unsupportable. If a stable coin can be traded one-for-one with a dollar, but you can buy a stable coin for, say $0.50, then people quickly trade stable coins for dollars. In other words dollars are circulated, and stable coins are not. The reverse is true, if a stable coin is work $2, then people get out of dollars and stable coins are circulated. This is Gresham’s law.
Now lunatics, they do willingly call themselves that, own Lunas that have crashed to $0.06. Do Kwon, the founder of Luna, has suggested that they increase the “minting capapacity” of luna from 300 Million, to 1.2 Billion. What does Gresham’s Law teach us? People will want to hold dollars and get rid of Lunas.
The principle, though, is that Luna is having to increase it’s minting capacity by a factor of 400%. Congress voted a 21% increase, Luna says 400%. The real inflation of the dollar is probably somewhere between those numbers.
I don’t like attributing Elon with pearls, but he has been tremendously successful farming the United States government. Tesla and the SLS rockets are strokes of genius to get “free money” from the government. However Musk fell into a trap recently. Alex Cortez started a minor fued with Musk, as she tweeted that he was a billionaire buying up twitter. She later re-attributed the statement to billionaire Mark Zuckerberg, and finally deleted the tweet.
Elon attempted a reparte to her initial comments that she was “stalking him.” This is based on her much earlier comments that everyone wants to have sex with her, and they show that by commenting about her. So there’s some cleverness in Elon’s tweet.
But the whole thing is theater. Alex doesn’t have a brain in her head, she’s proven to be a puppet, and as long as she does her master’s bidding she’s allowed to be a “congressional” representative. So Elon is simply playing into that theater by mentioning her in any capacity.
This is the same theater that Montana’s congressional delegation is playing into. Daines, Tester, and Rosendale are all playing in the theater of Congress. I get lots of email from them begging for money while explaining how much work they’re doing on my behalf. Not one of them has mentioned or done visibile work on any of the real issues:
- The United States Government hasn’t had a fair election since 1960.
- The United States Government has overthrown multiple foreign countries without any declaration of war by congress, and indeed has engaged in multiple wars without a declaration of war by congress.
- The China Flu was a real flu, but was also a straight up power grab by the United State Government.
- Our borders are beyond insecure, the Biden hoax is actively bringing the world’s filth into the United States.
- The dollar is in free-fall, as is the economy.
- Ukraine is a proxy war.
- There is no justice system, it’s controlled by the Democrat party.
- The Orwellian ministry of truth is in full swing.
Anyway, what’s a person to do? Pray, fast, study the Bible, and work our tails off to restore our God given rights.
Some say the greatest trick Satan ever pulled was convincing the world that he didn't exist. I say the greatest trick he pulled was to convince mankind that God didn't exist. I don't think I'll be able to articulate the depth of the problem or the extent of the depravity. Suffice it to say, the world does not hang in a balance. God is allowing mankind to prove it's allegiance, and mankind is choosing Satan.
I don't mean this in ethereal terms. Satan is evil. When evil is prevalent, then mankind is choosing Satan. Let's take a quick stroll through world news and see what's happening.
Elon Musk, not a conservative and not a right winger, is terrifying the poor idiots at Twitter by offering to pay way more for their company than it's worth. This has caused a meltdown among people who feel their control over lies slipping away. Who is afraid of losing control?
Putin has been provoked into a proxy war with the United States. While many, most?, sympathize with the Ukraine, and that is right, it is also right to place the blame for a senseless war at the feet of the United States disastrous foreign policy. Yes, Putin is wrong to invade. The United States is wrong for making a situation where Putin feels that's the best option.
China appears to have a hemorrhagic fever sweeping their land. China has the longest history of oppression and crimes against humanity of any modern nation. Observe the outcome of lockdowns, the suppression of human rights and dignity, the eradication of God. The result is death and despair.
The list of tragedy is growing longer every minute. I started with a light-weight snowflake and ended with a massive violation of everything that is God. Somewhere in the middle is a vain and vile war started by warmongers. Nowhere in that spectrum is a place for classic liberalism - a belief in the innate potential and value of life. The so called "right" has ceased to exist. Indeed God's rights have abandoned this planet.
What are you doing to restore even a sliver of God's right?
There is no benefit or reason in sickness. Be as healthy as you can.
I was reminded during the past couple weeks, that technology is often created to support a process. The platitudes of efficiency or scales of economy are often referenced. But good technology exists for one sole purpose to make humanity better.
In my line of work I often see that important parts of humanity are neglected when designing software. One of the ways humanity is empowered is knowing they did good work, and they did the right work. So if a work flow or a process, doesn't enable the user to assess if they did good work and the right work, then the solution is insufficient or inadequately designed.
At a grand scale, good technology, good solutions, mirror the human experience. They account for the messiness by being robust. They allow for the sporadic nature by being portable and available. They support the capricious and self-centered aspects by being secure and accurate. They negate the frailty of life by being maintainable. And they support the neediness by being intuitive and rewarding.