THE PRICE of the Terra (LUNA) cryptocurrency has fallen by more than 99 per cent.

[BlueKelah]

While I am not vested in crypto, I find it interesting but also complicated to understand. In fact, the Terra ecosystem is pretty impressive  - there are many projects and areas, even one which mimic shares. From the way I look at it, it seems to be trying to build some sort of monetary system that could also handle real-life functions.

Interestingly, there is a video recorded 18 Mar 2022 about Luna/UST. Foresight ?

Personally, I view the crypto space with an open mind; I think it's worth understanding for general knowledge, maybe one day it may somehow evolve to become mainstream.

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https://www.terra.money/ecosystem
https://www.coindesk.com/tech/2020/12/03...-and-aapl/

Undeniable Proof that LUNA + UST = Ponzi (18 Mar 2022)
https://www.youtube.com/watch?v=y_otSD3LYCA

The problem with crypto in general is they try be an alternative currency/finance system to the fiat currency system using a distributed computing system.

This creates two fallacies which can never be overcome.

1) In order to become mainstream they need central bank approval and regulation. So big investor and funds are able to pour money into the system.  However once you get a lot of regulation like current finance industry, it totally defeats the purpose of being distributed as it would be controlled by a central gov entity!!  The gov can just shutdown users account etc.. like recently in canada the truckers who had their crypto accounts frozen. This is a very big fundamental conundrum, which I think may prevent cryptos from become mainstream.

2) Distributed computing system means it is less efficient than centralised system, more duplication of data etc.. (thats why we use centralised systems for most computing platforms, even though we had distributed tech couple decades ago) You need miners/someone to provide the computing power and you need a forever appreaciating token/cryptocurrency price to pay them. Once the price starts falling apart, it becomes unprofitable to mine and the network will adjust downwards and slows down, transactions take longer and basically it become useless for payment etc..