Terra Luna used a very different system and had different managers. I'm starting to think that a lot of people here don't understand how alternatives and automatic regulation work in a free market.
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Whether it used a different system or not one should understand that trusting a 3rd party to maintain a peg to the dollar is a losing game
I think it's a losing game because the dollar is a losing game lol!
And yeah, one shouldn't be completely reliant on any other one single entity for a majority of their wealth.
Terra luna was like one them Rube Goldberg contraptions.
Really the best thing that people who want to get into something new and unregulated can do, is to not put all their eggs in one rickety basket and possibly get insurance to protect against fraud or catastrophic failure, and otherwise do their research and avoid the crappiest alternatives. Nothing wrong with playing the field and giving something a shot if they think it is genuinely useful. The market will correct itself if it is allowed to function uninterrupted.
I put all my eggs in the one basket that isn't full of holes. Fuck crypto.