Fractional reserve banking means that no bank can survive a run unless deposits are insignificant to their overall liabilities. Even if all the bank did was mortgage lending, they wouldn’t be able to pay every depositor if they showed up at once because the mortgage is going to take 15-30 years to pay back. Duration mismatch is the fundamental nature of fractional reserve banking.
First ad in Oddlots pod on SVB is “earn 5.1% with the safe, reliable yield on US treasuries”…an episode about a bank collapse in part due to safe reliable treasury investments. Retail doesn’t get access to BTFP if rates keep raising and they need cash before treasuries mature
https://overcast.fm/podcasts/episode_card/4011399796183108?t=0
For those wondering how FDIC works, banks are charged a bps fee based on an assessment of their risk and the size of the institution
https://www.fdic.gov/deposit/insurance/assessments/proposed.html
Go fuck yourself, Mr. In. Charge
If you have less than $1MM in cash, you should have it distributed across 4 banks for FDIC coverage. If you have a lot more than that, probably still just split across 4 banks. Don’t spend your whole life managing esoteric risk, but do the easy things to avoid catastrophic loss.
NY Attorney General has filed suit against Kucoin over sale of illegal securities, including ETH.
Goes into detail on the ICO as well as staking as reasons for ETH as an investment contract.
I say noster, but I’d bet this will end up as a gif situation
Verifying my Nostr Nests identity: KWYJ7ipXztDbexqujWmcUiFUQPWLPAzvWaa8BmjTfsY
Finally setup an lnurl and moved back to Testflight version of Damus to play around with Zaps. I know I’m late, but this is really cool
Just throw away and salvage tonight
Ugh, actually meant #[5] but tried to paste an npub and messed up. Let’s see if it actually is Nick this time
And I’m one of #[4] first 100 followers…unless I’m not following the right relays
Because it’s nostr, I can’t edit or delete either of these posts which I’d like to, but #[4] is actually Zach, sorry for the typo
I’m only 11 minutes in, but think this is I’ll be a seminal discussion of NOSTR that I’ll be sharing for the next few months https://www.youtube.com/live/pi2JbHWd_BM?feature=share
#[1] and #[2] interviewed by reason editors Nick Gillespie and Zack Weissmueller
I’m only 11 minutes in, but think this is I’ll be a seminal discussion of NOSTR that I’ll be sharing for the next few months https://www.youtube.com/live/pi2JbHWd_BM?feature=share
Why did bitcoin have to front run my bonus?
One of the best classes I took in college was Ecological Agriculture. I got a lab credit for reading some Michael Pollan books and growing 5 rows of corn with varying levels of blood meal (from none to 4x recommended amount) and tracking the size of the harvest. A very special class was when the professor brought in maple syrup that he had tapped at home and boiled down over an open fire. It was almost black, and I’ve never had anything like it again.