How many bank runs gonna happen before people realize the only safe way to hold large amounts of wealth is self custody bitcoin?
https://techcrunch.com/2023/03/09/silicon-valley-bank-firms-reactions/
Discussion
?cid=2154d3d7qygncbpd4iohzukn0sldwm3cse39ik8l6z2hzlbk&rid=giphy.gif&ct=g
All of them.
How did they lose money from Treasuries? That is like dummy proof! π€¦πΌββοΈ
Thorough, robust, and resilient self-custody security is definitely complex and difficult. But it is equally rewarding
Silvergate failed and now Silicon Valley Bank.
#[0]
Bank run on every crypto bank then bank run on every "real" bank. - #[1]
Crypto people can steal fiat people's cash?Crypto people deposit crypto and then take out the fiat that other people deposited, leaving fiat people without money. What a rip off.
Only bank with banks that don't accept crypto.
I love bank runs!!
They'll realize it when it's too late.
Sooner than later I hope! π€·ββοΈ
##[0]
Has any non crypto related bank faced a bank run recently? I might have missed it⦠or is this just part of the crypto contagion
sadly itβs going to take a few more
I think the big lesson here is don't bank with a bank that starts with S
Real Estate. Physical commodities. Those things don't need an electronic device or the Internet to be useful. Same with cash. We can buy stuff with cash, even without the internet or some device.
Don't put your fiat money in banks that accept cryptocurrency. Otherwise all the crypto people will get excited about crypto, claim it went up in value, and then withdraw fiat, leaving those who acctually deposited fiat without anything. Essentially stealing fiat cash from those who actually earned it.