Terra is exploding. Do Kwon and the Terra ecosystem are turning Bitcoin into their collateral asset of choice to backstop LUNA and the UST stablecoin. Over the last several weeks, the Luna Foundation Guard (LFG) have bought over 30,000 BTC... and they don't plan to stop there. As the LFG climbs the ranks of bitcoin holders, Do Kwon has started playing empire games—claiming victory over the Curve Wars with the 4pool (which contains UST, Frax, USDC, and USDT), calling for the end of DAI, and attempting to build out the Terra ecosystem as the ultimate power in the universe. Is Terra (UST) the future of crypto money? Or is it a ticking time bomb waiting to explode? Perhaps the truth is somewhere in the middle, so we're going to debate it. From the bull side is Delphi Digital's José Maria Macedo, and representing the skeptics is Selini Capital's Jordi Alexander. ------ CONSENSYS | M·A·C: NFT Collection for a Good Cause https://bankless.cc/MAC  ------ SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  ️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ BANKLESS SPONSOR TOOLS: ️ ARBITRUM | SCALED ETHEREUM https://bankless.cc/Arbitrum  ACROSS | BRIDGE TO LAYER 2 https://bankless.cc/Across  ALTO IRA | TAX-FREE CRYPTO https://bankless.cc/AltoIRA  AAVE V3 | LEND & BORROW CRYPTO https://bankless.cc/aave  ️ MAKER DAO | THE DAI STABLECOIN https://bankless.cc/MakerDAO  BRAVE | THE BROWSER NATIVE WALLET https://bankless.cc/Brave  ------ Timestamps: 0:00 Intro 7:30 LUNA/UST Fundamental Properties 15:15 The Balance Between LUNA/ETH 20:00 Why Bullish/Bearish? 25:28 Why is UST a Successful Stable? 30:19 Are Algo-Stablecoins Unstable? 42:25 Anchor's Utility 48:02 Do Kwon $10B Purchase of LUNA 52:02 Is UST Becoming a Bank? 57:00 Risks of De-pegging 1:06:30 Has LUNA/UST Been Tested? 1:15:00 Do Kwon & Decentralization 1:27:50 Do Kwon's 4pool 1:39:05 Potential Nightmare Scenarios 1:48:04 Closing Arguments ------ Resources: Jordi Alexander CIO of Selini Capital https://twitter.com/gametheorizing  Jose Macedo Founding Partner, Delphi Digital https://twitter.com/zemariamacedo  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 

Meltem Demirors is the Chief Strategy Officer of CoinShares, a digital asset investment firm that manages $4B. Meltem is also known as the vibes sorceress, curator of vibes, and the queen of crypto. She’s been in the space for more than eight years and has seen the ebbs and flows of not only the markets, but the people that make up the space. As a whole, the people that make up the space are part of the entire crypto cult. Whether you’re team Bitcoin or Ethereum, or whichever other coins, protocols, DAOs, people, etc. you support—you’re part of the cult. We don’t mean the negative connotation of the word cult, anon. Relax. Cults are everywhere. Over the years, the online magic of crypto has bled into the IRL side of the space. How will this trend impact the future of the space? Why are cults everywhere? What advice does Meltem have for new crypto participants? Answers to these questions and so much more in the episode. ------ 📣 CONSENSYS | M·A·C: NFT Collection for a Good Cause https://bankless.cc/MAC  ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ BANKLESS SPONSOR TOOLS: ⚖️ ARBITRUM | SCALED ETHEREUM https://bankless.cc/Arbitrum  ❎ ACROSS | BRIDGE TO LAYER 2 https://bankless.cc/Across  🏦 ALTO IRA | TAX-FREE CRYPTO https://bankless.cc/AltoIRA  👻 AAVE V3 | LEND & BORROW CRYPTO https://bankless.cc/aave  ⚡️ MAKER DAO | THE DAI STABLECOIN https://bankless.cc/MakerDAO  🦁 BRAVE | THE BROWSER NATIVE WALLET https://bankless.cc/Brave  ------ Topics Covered: 0:00 Intro 5:02 Meltdem’s Trajectory into Crypto 13:08 When Crypto Became Real 20:17 The Power of Removing Your Ego 27:50 Why Meltdem was Wrong About Ethereum 34:24 Cults Are Everywhere 46:00 Cults vs. Communities 48:00 Meaning & Social Crypto Culture 52:00 Inter-generational product-market fit 54:50 Developing Your Own Perspective 1:05:53 How Social Crypto Has Changed 1:20:15 Meltem’s Advice For People New to the Space 1:22:44 What Meltem’s Optimistic About ------ Resources: Meltem Demirors https://twitter.com/Melt_Dem  CoinShares https://coinshares.com/  Simulacra and Simulation by Jean Baudrillard https://www.goodreads.com/book/show/22613.Simulacra_and_Simulation  The Denial of Death by Ernest Becker https://www.goodreads.com/book/show/2761.The_Denial_of_Death  Finite and Infinite Games Book by James Carse https://www.goodreads.com/book/show/189989.Finite_and_Infinite_Games  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures