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I’m assuming FED is very unlikely to stop pushing down on inflation with high interest rates just because of SVB, but if more banks start going tits up, they might ease back on the interest rates.
It’s a very nice sum up OP, thank you. At the end of the day we’ll only be free from the centralization of traditional finance when people take ownership of their money, but that needs incentives.
Until we see marketplaces where people can exchange chickens for rabbits and pay for that in crypto, what choices do we really have but to rely on banks to on/off ramp from the “real world” to our “internet money”?
Tldr. Covid and governments printing recklessly coupled with important people not doing their job well leads to shitty situations.
Furthermore, this might force the fed to reverse its interest rate hikes, signaling more people to invest in ‘risky’ assets, BTC (*unwillingly*) included, giving us another chance to fulfill our original purpose of being a place outside banking.
Great write-up OP. Hard to find quality posts these days.
Main reason: I recently bought that’s why everything is droping, sorry about that
Great post OP 🙏
Listen, I’ve played Monopoly. I know how banks work. We’re all fine.
*skips right to ELI5*
Problems with banking?
Unpopular opinion but I dislike how everyone blames banks. The simple matter of the truth is SVB had poor risk management by having most of their depositors being crypto companies who like you stated could pull a ton of money out at one time.
That’s poor leadership.
Finally not a repeated topic dca and hodl post
I love that eli5 posts because it explains exactly what we need to know.
Dejavu with this post
>In crypto, your funds are always gonna be on the blockchain whenever you need them. It’s absolute money, with absolute ownership, always absolutely present.
Until you interact with a rogue smart contract and get your funds stolen with no recourse to get them back.
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I’m like a 5 and I don’t care but good effort OP
Thanks. Great explanation.
Interesting. Just wondering why usdt is still doing good at the moment
please explain sir
I don’t see why no one was crying like this when spy hit $220 during covid…. lmao
Great write up. You nailed it. Kudos !
Now thats a good post!
Thanks for explaining. Wasnt tying those strings, so I learned something today.
Please do a sum op for an one year old
Explain me like I’m 5”
Godsend of a post OP
Thanks for de TL:DR
Like 99% of this sub it is the only part of this post that explains it in a way we can understand.🤣
Hey everyone, look at this guy! Actually spending time on a post to get his moons! Nice write up, OP!
Never been so bullish for crypto in my entire life. We’re early here. Get your bags ready.