USTC Re-peg. What is there to lose?
Updated
We all saw it. What a disaster. I pesonally did not have any money in USTC before all of it. I do not have any money in "stable coins". However, I do think this could be an interesting opprtunity. (And after doing some research, USDC seems like a very good model).
After the drop and the initial impulse ralley during June, I think USTC is settling down.
Everyone has the same idea: put money into USTC and wait for it to reach $1 again. That sounds unrealistic but its not entirely insane. I've linked an interesting article that shows how that could be done.
But for now, what's the anlaysis? After the inital impulse buy, USTC has been grinding to the downside. Of course, people are sceptical but the coin is showing signs of a revival. However, with Do Kwon's indicment, the situation may not be the best. And yes, there is a very high chance that USTC could fall flat on it's face.
So what do to? I've taken the personal approach of buying 40,000 USTC and waiting. If it fails, it fails; and that'll be the end of it. But the reward is far greater than the risk.
As it says in the article: "Repegging USTC to $1 will restore trust in the entire crypto industry and should be in the interest of everyone in the entire crypto community. The Terra Classic Community has something no one else has: Nothing to Lose!"
After the drop and the initial impulse ralley during June, I think USTC is settling down.
Everyone has the same idea: put money into USTC and wait for it to reach $1 again. That sounds unrealistic but its not entirely insane. I've linked an interesting article that shows how that could be done.
But for now, what's the anlaysis? After the inital impulse buy, USTC has been grinding to the downside. Of course, people are sceptical but the coin is showing signs of a revival. However, with Do Kwon's indicment, the situation may not be the best. And yes, there is a very high chance that USTC could fall flat on it's face.
So what do to? I've taken the personal approach of buying 40,000 USTC and waiting. If it fails, it fails; and that'll be the end of it. But the reward is far greater than the risk.
As it says in the article: "Repegging USTC to $1 will restore trust in the entire crypto industry and should be in the interest of everyone in the entire crypto community. The Terra Classic Community has something no one else has: Nothing to Lose!"
Comment
Well...the idea panned out. A little bit delayed but nearly the same.
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