alex van de sande (4 character handle ? me : bot) - @avsa8 months ago
This is fantastic to watch live. The black elephant that everybody knew was coming, falling prices and network congestion, broke Dai country, and now mkr is considering all the handles they can push (DSR, fees, auction parameters) to affect the economy. It’s an open source FED. https://t.co/4IvXQuBYSv
The most dramatic measure that's been floated is an Emergency Shutdown which would shutdown the entire @MakerDAO system and all Dai holders would suffer a haircut. But as it currently stands, this move does not seem warranted. Ongoing discussion thread: https://t.co/xWHb2uPljO
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I too got liquidated - let's see if we can add pressure to this cause
Notice how the price is nearing all-time-lows, while DAI is doing better than ever. How much MKR has been purchased using the buffer so far? Virtually none it seems according to mkr.tools.
The white paper has your rebuttal. I don't want to waste my time with someone who clearly didn't research the investment case for MKR and the risks involved.
Sell your MKR if you want, I don't care either way. I only dropped by to tell you to read the damn white paper before you invest in something you don't understand.
"Is MKR a charity case?" You should be able to answer that question yourself instead of moaning and whining on Reddit. And if you can't, you're not ready to be investing in crypto responsibly.
DAI should be safe, it's us MKR holders that are going to lose out big time, which is totally ok by me as I understood the social contract when I bought MKR. Tempted to scoop a few more up but looks like the team is expecting more deflationary pressure.
Thanks for the explanation... and thank you for your MKR service I guess ? Hope you'll recoup this loss in now time... fundamentals.
If that makes you feel better, I made a new CDP to recollaterize those pesky non-backed DAI :D
I'm looking at it from an antifragile point of view, anything that doesn't kill MKR will make it stronger, even this. I must admit to not fully understanding what I'm playing with though. If this mechanism (minting MKR and selling it) works to successfully fix the system I think we've all been part of something pretty cool and decentralised stable coins have yet another feather in their cap.
Nassim Nicholas Taleb fan ? My man :)
Yes, I share your opinion, we are part of it, perhaps loosing money in the short term, perhaps also in the long term but this is a tremendous opportunity to have a decentralized, bordeless, uncensorable money :)