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Cory Swan.com πŸš€πŸŒ– Profile picture
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May 9 β€’ 5 tweets β€’ 2 min read
IT'S JUST A LOAN GUYS NOTHING TO SEE HERE 🀑
#DontKwon
🀣
Lol can't make this sh*t up 🀣
"THE CENTRALIZATION IS TRANSIENT. I AM NOT THE SOLE DECISION MAKER YOU'RE LOOKING FOR."

β€’ β€’ β€’

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More from @coryklippsten

Cory Swan.com πŸš€πŸŒ– Profile picture
May 8
It's almost like the market is discovering UST is a ponzi scheme...
πŸ‘€ get in bed w thieves, watch them dump your sh*tcoin at the worst possible time 🀣
Read 4 tweets
Cory Swan.com πŸš€πŸŒ– Profile picture
May 7
"Decentralized Stablecoin" is an oxymoron.

Do Kwon and all Luna / Terra / UST promoterz are lying to you.

It's just another sh*tcoin ponzi with some orange-washing Bitcoin affinity scamming sprinkled on top.
Read 4 tweets
Cory Swan.com πŸš€πŸŒ– Profile picture
May 1
"Let’s first understand the underlying reason for why Terra’s pegging mechanism is inherently fragile"

A passage from Hjalmark Peters' new post, "Why I am Betting against TerraUSD" πŸ‘‡πŸ‘‡πŸ‘‡

1/🧡
For every 1 UST that wants to convert back to 1 USD there must be 1 USD (or any other non-Terra asset worth 1 USD) willing to either buy UST at a price of $1.00 or, due to Terra’s arbitrage mechanism, buy LUNA at whatever price.
2/
Otherwise, if there are more UST eager to leave Terra than there are USD willing to enter Terra in the way just described, UST can obviously no longer trade at parity.
3/
Read 14 tweets
Cory Swan.com πŸš€πŸŒ– Profile picture
Apr 29
My latest @CoinDesk interview:
"Crypto payments have not taken off yet because of where we currently are in bitcoin’s adoption cycle. Historically, an asset that becomes money evolves through four stages: collectible, store of value, medium of exchange and unit of account.
1/🧡
"We are still early in the store-of-value phase, when most of the very small number of people who own bitcoin are using it for long-term savings, with the bonus that its value is likely to appreciate significantly over time.
2/
"As more people adopt bitcoin and store more of their value in the protocol, the price will continue to rise and volatility will decline, making it more suitable for payments.
3/
Read 5 tweets
Cory Swan.com πŸš€πŸŒ– Profile picture
Apr 24
CENTRAL AFRICAN REPUBLIC ADOPTS BITCOIN AS LEGAL CURRENCY
(Looking for more than a single Forbes post)

"The Central African Republic has become the first country in Africa to adopt Bitcoin as a payment currency."
1/🧡
"In a worldwide first, the National Assembly unanimously adopted the bill to help put the country’s plan for economic recovery and peacebuilding on track."
2/
"The minister of digital economy, post services and telecommunications and the minister of finance and budget initiated and submitted the draft law establishing both the legal framework for cryptocurrency regulation and Bitcoin as an official currency."
3/
Read 4 tweets
Cory Swan.com πŸš€πŸŒ– Profile picture
Apr 5
Nothing new under the β€œcrypto” sun with Do Kwon and UST. Just another altcoiner lying about Bitcoin to promote his sh*tcoin. 1/5
At the 22:00 mark of Do Kwon's β€œMoney Talks” interview with Bill Barhydt on Youtube, he claims that β€œit’s very difficult to use Bitcoin as a medium of exchange.” What is this, 2017? 2/5
The primary value proposition promoted by Do Kwon is false. He says that you need a dollar-pegged cryptocurrency to make payments. That’s not true. 3/5
Read 6 tweets

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