The inflation data is telling the Fed to increase interest rates, but the banking crisis is telling the Fed to decrease interest rates and print money.
Lose-lose scenario for the US economy.
#Silvergate: We are a #bank in need.
#Fed: Who are your customers?
S: Crypto companies.
F: Ah. You enjoy yourself.
#SVB, #Signature: We are also in need.
F: Who are your customers?
S: Silicon Valley startups.
F: We'll help.
Buying #bitcoin during Cypress bank bail-in was smart.
Buying #bitcoin during Mt Gox collapse was smart.
Buying #bitcoin during March 2020 during peak “pandemic” panic was smart.
Buying #bitcoin during FTX collapse was smart.
Buying #bitcoin during SVB collapse is
#bitcoin is the most resilient money ever created. Act accordingly.
Free speech, being able to send value without needing a 3th party company.
Now that it appears a bank run has been mitigated, this is a great lesson in why bitcoin is valuable.
Private keys allow you to be your own bank.
If you are worried about fractional reserve banking, I would suggest reading the bitcoin white paper as a starting point.
Banks need you to believe that you can access your money at any time, without you actually ever trying it.
If you ever referred to early Bitcoiners as "lucky," it might be time to reconsider your perspective. đź’
It may have taken luck for them to make the purchase, but their commitment to hodl through dips and different narratives and attack vectors requires courage. ⏳
As a reminder, the lack of counterparty risk in self-custodied #Bitcoin is not priced in nor is the halving.
Get out of the echo chamber.
What is happening has nothing to do with crypto. The government is not crashing banks to stop Bitcoin. We are not that important.
Which means…
This is much bigger. The actual system is teetering on the edge of collapse.
And this is EXACTLY WHY we have always needed Bitcoin.
