Terra Luna Proved Every Warning Was Right
synopsis
After a month-long hiatus, Ian and Mandana return to address the crypto crash, the Terra Luna collapse, and Bitcoin's resilience. Ian introduces the Austin Bitcoin meetup scene (meeting Saifedean), announces their new website, and walks through the Terra Luna death spiral in detail — framing it as vindication of every warning they've given about altcoins. The episode establishes that Bitcoin crashing to $30K is still 10x from four years ago.
quotes
"Bitcoin did not go to zero... That's how Bernie Madoff got caught. He got caught in a downturn."
"It crashed to 3,000 four years ago in a crash. It is still 10x from four years ago. No stock has done that."
"In Bitcoin, all of it's upfront. Nothing's hidden from you."
"The speculators that are scrambling. The savers are just like, thank you. I'll get more."
"Rich people are going to get their Bitcoin through bankruptcies."
"If you've come this far down our podcast and you've still had Terra Luna, I've failed you."
The soup guy: "I sat in my car for two hours tonight before I went inside to tell my wife."
"When the tide goes out, you see who's swimming naked."
topics
Flirting with Bitcoin website launchAustin Bitcoin meetup (meeting Saifedean Ammous)Austin as the new Silicon Valley for Bitcoin; Miami as Bitcoin's Wall StreetMarket crash: $7 trillion in paper wealth erasedBitcoin's resilience: didn't go to zero, still 10x from four years agoTerra Luna stablecoin collapse — algorithmic stablecoin death spiralDo Kwon's $10B Bitcoin reserve and its mysterious emptyingAltcoin holders fleeing to Bitcoin during crashesCoinbase SEC filing: "if they go bankrupt, they don't got to give your money back"Bitcoin teaches patienceThe difference between speculation and saving