[marcuskane2]

This is completely misleading. Their "stable coin" system was doomed to fail from the beginning.

They made up two new coins, which were algorithmically tied together so that coin A's value was variable and coin B's value was equal to 1 dollar, and the mechanism to maintain this was that users could convert between A and B coins at whatever ratio maintained the "stable" value for B.

This means that as soon as the hype around the speculative A coin waned, it instantly went into a death-spiral of hyperinflation to maintain B's value.

The "stable coin" was never backed by actual dollars or gold or bonds or equity in a business or anything real. It was an algorithmic peg between two different useless coins made up by the same people.

[erredois]

I was not defending it or saying it was stable. And I believe what you said is true about the weakness, but the fact is that the life of this project was still shortned by someones actions.