Re:Tether starting to lose its peg too, after Terra did
by tluyben2 on Thursday May 12, 2022 @03:55AM
(#31350580)
Well, if your 'advisors' (usually indicated in reddit/twitter as people 'much smarter than me' by which they mean devs who work on blockchain projects and 'financial gurus' who post a lot of charts with arrows pointing 'in the right direction' (which wasn't hard the past few years as it was generally just 'up' unless Musk posted something)) say it's a sure thing and suddenly you are at the start of a recession with massive inflation and your entire savings wiped out... It is hard to blame them; saying 'it is only money' works when you have money. Luckily there is quite a bit of help and helplines to talk them down.
See Reddit's "apecoin" subreddit, which had two suicide threats yesterday.