Ryan Grim
@ryangrim
Came here to learn more about crypto so I can more effectively advocate for its abolition before it ruins everybody here and the rest of us along with it
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bradq
@bradq
welcome! how can we help???
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Ryan Grim
@ryangrim
Help me out: crypto is supposed to be a hedge against a volatile world but it seems more volatile than anything else and if there’s anything predictable, it moves with the nasdaq. What am I missing?
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Zach
@zherring
FWIW: price volatility isn't the same as system volatility. worth noting that the first/only loans FTX paid back while in the middle of its meltdown in 2022 are the overcollateralized loans they had on DeFi protocols, bc if they didn't they would've lost _more_. The protocols themselves, when they're actually onchain (vs manipulatable moon math on opaque databases like Celcius, Terra/Luna etc), absorb hundreds of billions of losses without failing. I realize this is 1) highly specific and 2) sounds like its splitting hairs re: "no true scottsman" but idk, as someone who's been in the space, reads the chain etc, I do feel like there's a difference. I (still) care about the latter. I'm more and more disillusioned/disinterested in the former (prices etc).
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