We have STRC "stretch"ing and de-pegging...how is it I'm not reading headlines about a certain part of Saylor's anatomy stretching to accommodate the peg? Well, probably because it's the investors' anatomy which is being molded.
I will not be surprised if a bunch of people pile into it at this lower number because they believe the story that it will trade at $100 and that they can make their yield "basically risk free."
It's like Bitcoiners have forgotten this passage from @allenf's Only the Strong:
So what yield is being farmed in crypto? There is transparently none. There are flows, but they are not generated by economically productive assets over time but rather appear near instantaneously as a result ofspeculative pricing across non-productive assets. The word “speculative” is not a denigration. There is nothing wrong with speculative value. But there is so mething bizarre and circular about discrepancies between different speculations on the potential future value itself forming the basis of profitable arbitrage that is then mislabeled as a “yield.
STRC is valuable because it has a yield.
The basis of value grounding has explicitly become “yield,”
Just because we are talking about bitcoin, doesn't mean the yield farming mechanics suddenly make sense.
We have STRC "stretch"ing and de-pegging...how is it I'm not reading headlines about a certain part of Saylor's anatomy stretching to accommodate the peg? Well, probably because it's the investors' anatomy which is being molded.
I will not be surprised if a bunch of people pile into it at this lower number because they believe the story that it will trade at $100 and that they can make their yield "basically risk free."
It's like Bitcoiners have forgotten this passage from @allenf's Only the Strong:
STRC is valuable because it has a yield.
Just because we are talking about bitcoin, doesn't mean the yield farming mechanics suddenly make sense.