Yes those wise fiat elders

“Feel confident.” I rather not be emotional about my banking system. Prefer to “have full confidence” in my 🌽

The main problem is that there are no adults left. There’s no one to trust at the fed, in politics, they’re mostly all old geriatrics. Who will restore trust and order? Who would they put out there with any credibility to bring order and give the illusion of security?

Yes or about how much FDIC insurance exists ($125bn and a $100 loc) relative to the $22T in banking deposits?

They won’t be able to backstop everyone.

Do you have any fiat in the bank at the moment? Normally there would be enough to pay liabilities but with what’s happening, should we be converting even that money into cold storage 🌽? Asking for a friend ;)

I have fiat in the bank to cover liabilities and a huge chunk is for taxes due April 18. If banks fail, guess we won’t have to worry about the IRS 😂 but yea, would have been a shame not to have more 🌽

I see some folks going all into Bitcoin right now. What are the chances this bank run spreads Monday to other major banks? That we won’t be able to use fiat to buy corn 🌽 ? Asking for a friend.

Whatever happened to free markets

Best case scenario they’ll be too busy with triage and nursing other implosions

What about electric heaters and vacuums?

These bank failures should impact Bitcoin but in the inverse. They’ll catch on soon… they’ll learn when they have to. Stack cheap while we can 🤗

Going to be an interesting business day in the US.

https://damus.io/note1vv65xjwmud4m75xza59ge6nru6w2eq32g5vzh0ahta8t3svvl3fq3jgwcr

If we get another 2008, remember that #Bitcoin was born out of it. It was designed specifically for it. The essence of Bitcoin is for the very moment. It either flies or it doesn’t. And it will fly. The last 14 years were just test for flight. wgmi

For now …

Will be interested to see whether TradFi will quickly find value in #Bitcoin when they realize what counter-party risk really means. 2023 doesn’t have the checkbook for bailouts that 2008 did.

Price drops are a relief for stacking goals. Doesn’t feel good but also feels good!

Thought this was great https://mobile.twitter.com/CryptoNewsYes/status/1633177430033674241/mediaViewer?currentTweet=1633177430033674241¤tTweetUser=CryptoNewsYes

Housing market is slower than 2008, prices still are outrageous, with mortgages unaffordable, inflation still hot, consumers squeezed, loads of debt, cards, and car repos —where do we go from here? Up only.