With all these banks that are going bankrupt and maybe Lehman 2.0 that is approaching, I’m really scared for my Bitcoin stack.
Just kidding, my sats in cold storage don’t give a shit.
ZERO counterparty risks 🤌🏽
Discussion
💯 as these events get more frequent and larger it will just act as one giant advert for why Bitcoin exists
Indeed! People underestimate counterparty risks
Not just that… regulated practices too.
Pretty sure TradFi banks that are failing are 1) regulated and 2) engaging in practices that fall within that regulated framework.
True
They just aren’t used to it. Govs wouldn’t let the counterparty risk hit in the past. But when it hits in future it’s going to be a knock out.
A spiral that they think they can control because they have wrapped red tape and regulations around as many as possible but like you say they have no chance as it unfolds. Only way out will be to watch it fall like dominos or backstop it with fresh 1s & 0s on their screens.
That’s the question. The end (collapse of the current monetary system) is known, but how we get here remains open.
As a human I hope that it doesn’t collapse and we can slowly transition. (Key word is hope)
Reality might be much more ugly.
Well if you ask me, collapse is safe. But could be a rather slow one as well!
Hot take: they need a large crisis to usher in the new system. Dollar is f*cked, China and Russia on the rise, US holding on for dear life on their old ways and values… US hegemony declines by the day and they’re trying everything in their power to stop it. But, looking at history, this is just the way things go over time.
No doubt…
I’m just waiting for the moment when Russia and the Middle East announce their sovereign holdings of Bitcoin along with their huge mining facilities after the west deludes itself about renewables and the East passes up the opportunity due to their obsession with micro control.
That would be absolutely epic lol 😂 would like to see the look on those boomers’ faces in the West when they announce it. I think the BRICS+ nations will be the next (collective) hegemony, probably led by China and Russia.
Sooner or later, some nation(s) will announce it or make it obvious - for the public.
The govs know what the others govs do. The public is just last to get to know it.
💯
Oh no sell it all!!
🥶 🧊 🥶 🧊 🥶 🧊
😂😂
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