SVB has been contained - it's a crypto and VC bank.. Fed wants job losses. Let the job loses commence.
Check this tread out from over on Twitter .. food for thought.
https://twitter.com/samdknowlton/status/1634218711727980544?s=46&t=VxL4Pr7PqO0bJTbJa4E4Ww
I agree, only if enough capital flows into the space. Right, now capital is exiting from the space because there is so much uncertainty around whether or not at a future point time there will be more or less friction... Need the banking system for the fiat on ramps.
"There are two things in the world that become real when you believe in them: God and Bank Runs".
Too right, you should be scared to let go of cash.. we're not there yet with bitcoin system, and we don't want cbdc's. I posted an article from Arthur Hayes.. brilliant idea.. give it a read.
Then your fucked isn't it.. Everyone is... Everything grinds to a halt. But we aren't there yet are we... It's that bank and it's customers that have deposits that aren't insured up shits creak as they have to wait for the liquidators to sell assets, which will then be used to pay creditors back in order of seniority. Meaning some people will get back everything where these is a first charge, others might not. Though if they wait 3 years or more, most people will get back there money (so long as they don't sell down there loan books at a lost).
https://cryptohayes.medium.com/dust-on-crust-300d4b5cf3ec
"The ultimate question is, how do we remove the need to use USD or any other fiat to purchase Bitcoin? Solving this riddle requires the majority of the world’s largest economic systems to pay for goods and receive wages in Bitcoin. This is the dream of any true Bitcoiner — and if we are successful, many will earn Bitcoin by working, and thus remove the need to use banking services. But for all our effort, there is still a chance that we will never reach this ultimate state."
Give the article a read boys and gals.
Most farmers are shit coiners... period. Farming has become so hard that you have to go for the high beta plays. Majority of farming isn't sustainable - food prices have sky rocketed as a result of there being a lack of chemical fertiliser, because three crud all nutrients in the ground, soil erosion is a thing. Farming is a shit coin. But all credit to farmers they work hard, but at the same time, it's about self interest, not about being Jesus and feeding the multitude.
the only way to escape a run on a bank is to withdraw cash from the system.. not many will flee to bitcoin, if it too is burning.. hence why we haven't seen massive bids both when BUSD signalled they were in trouble and now as USDC reportedly say they have 30% of cash reserves tied up in this bank. This is all an attack on bitcoin to erode confidence. Outside of here, where is the confidence stemming from? What you see is all there is.
Good morning NostrNam - This weekend, the US banking system is burning with no hope for a bail out... what will Monday bring?
pleb, sounds better, however you are correct in the fact that it is pronounced pleeeb .. who started it?
I hear that - the VC’s bank, pump and dump for the big boys.
#[4] these are the levels I'm watching -21.4 - 21.6 for potential reversal if we reclaim fat green line.. Still essentially range bound.. so we see. What do you reckon?
#[2] what do you think brother?
Right, why do you think they so damn against it... it's anathema to their business models.
It's not magic, just algo's control the decisions behind buying and selling. Look at post from 26th Feb. Still levels to watch for. Not Financial advice, just be aware of the environment we're in.
Area's to watch for over the next few days... don't ape in... Still think 16.6 is on the table in the next few weeks. Anyways first things first, price needs to accept above the grey line.
If fails the lower green box, then the ride aint over.. potential short squeeze to the upper green box... but note no buyers in this market, so anything above that unless equities catch a bid is likely to reverse.
