Funnycontrol | Dil mein mere hai Dard E Crypto

moneycontrol.com:

My dear crypto brothers and sisters,

A catastrophe has occurred. Remember, when I told you on Twitter last month that Stablecoin is stable because it has the words stable in it? And you guys gave me 1000 Re-tweets on that? Yeah, so stablecoin is about as stable as the future ownership of Twitter.

In both cases, it may have been spam bots driving up the valuation. I literally lost millions because of what some click fan in Kazhakastan was telling me to do. But look at the bright side. Both Parag Agarwal and I will be jobless at the same time, which means in some ways, I am also the former CEO of Twitter.

Now this whole crypto crash happened because people take advertising slogans way too seriously. In the late ’80s-early ’90s there used to be an ad campaign for a moped that went “Chal Meri Luna”. Crypto influencers have been singing this song, thus convincing us all that Luna is a stablecoin. They had us all convinced Luna was tethered to a stablecoin. But it was actually tethered to Tether. And Tether it seems was tethered to Ether which In turn was ethered (or was it tethered) to thin air. Thus we had a blockchain made up of blocks of nothing tethered together by a chain of gullible idiots.

Also read this November 14, 2021 article: Current crypto craze has the makings of another Tulip Mania

Now it seems people who had shouted Chal Meri Luna also had positions in Bitcoin. So Bitcoin fell because people felt they would have to liquidate their positions in Bitcoin to keep their Luna running. Which makes a great case for Bitcoin as a replacement to a fiat currency if by Fiat you mean the 1980s premier Padmini whose scrap value is higher than its running value.

But guys, you have to understand: This is just a temporary dip in the