News for hackers. Stuff that matters.
Re:Tether starting to lose its peg too, after Terra did by yread on Thursday May 12, 2022 @03:52AM (#31350567)
Assholes need to be jailed and we can feel for the greedy people losing their money. On the other hand they wouldn't have shared their gains with us if it went well so they can't expect us to bail them out when it goes bad
Re:Tether starting to lose its peg too, after Terra did by greyhair on Thursday May 12, 2022 @08:02AM (#31352719)
This. Exactly this. In some ways, this mirrors the current student debt crisis.

Only 13% of the US population holds student debt, and 80% of student debt is held by earners in the upper 20% of income. But suddenly, we are supposed to cancel all that debt. ?????

Same thing with the market crash in 2008. Oh, we have to bail out all those banks because otherwise pension funds will lose value. Not close completely, but lose value. So a bunch of people with no hope of ever having a pension have to be taxed to bail out existing pensions (in effect). And then AIG having the gall, after effectively failing, and only being propped up by Federal dollars, complaining ten years after that the government unfairly held back some of their profits because the government backing came with stock holdings to back the loan, and AIG had to buy the stock back.

So yeah, Crypto is an issue, but the major banks are also an issue, and people that are stupid (or greedy) about money are an issue.

Re:Tether starting to lose its peg too, after Terra did by pirate787 on Thursday May 12, 2022 @09:45AM (#31354077)
Agree. The median student loan burden is very manageable-- less than a new car -- and the issue is manufactured for political purposes on the left to turn out younger voters.