Just a thought:
Bitcoin does not have counterpart risk, it can be seen as a hedge against the existing financial system.
When banks start buying Bitcoin, you know something big is coming in the fiat financial system.
They’ll be hedging risk against themselves.
"It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so." ― Mark Twain
Is there any greater signal for how messed up the global financial system is than the top financial systems adopting Bitcoin?
🤔 I wonder why lol
Aren’t outflows of $ from crypto exchanges actually outflows from traditional banks? Could withdrawals from Binance US cause partner banks to collapse due to deposit run?
Everyone thinks this is about crypto. What if this is actually about banks (& continued banking crisis”?
“The purportedly independent U.S. affiliate of Binance, the world's largest crypto exchange, said in a tweetlate on Thursday that its banking partners are preparing to stop dollar withdrawal channels as early as June 13.”
“When you teach a man to hate and fear his brother, when you teach that he is a lesser man because of his color or his beliefs or the policies he pursues, when you teach that those who differ from you threaten your freedom or your job or your family, then you also learn to confront others not as fellow citizens but as enemies - to be met not with cooperation but with conquest, to be subjugated and mastered.”
"Insiders should have a pretty good sense of how their own deposit base is holding up, so we wouldn't expect purchases if things were falling apart behind the scenes,"
😂
"Employ thy time well, if thou meanest to gain leisure; and, since thou art not sure of a minute, throw not away an hour."
"He that hath a trade, hath an estate; and he that hath a calling, hath an office of profit and honour,"
Could hoarding of US Treasuries be in preparation for defending foreign currencies from devaluation?
Block explorer of wallet: https://www.blockchain.com/explorer/addresses/btc/1HQrkiDXxmJddCVxswjGPC7xxmUawihzeK
400,000 Sat Contest on Reddit!
I’ve already determined the first secret key and uncovered an encrypted message. I have no idea what to do with it though.
If you are familiar with decrypting messages and want the first seed phrase Zap me 1,000 Sats and I’ll DM you the secret key for the first message (emojis).
Good Luck!
“Argentina introduced its largest-denomination banknote on Monday as inflation running at more than 100% a year forces the population to carry ever growing stacks of cash to pay for everyday purchases.
Yet the new 2,000 peso note put into circulation by the nation’s central bank is valued at only about $4, according to commonly used parallel exchange rates. At the official rate, which is overvalued by currency controls and restrictions imposed by the government, it’s worth about $8.50. “
Midnight thought on Bitcoin credit system using LN:
*Bank has LN liquidity channel of 20,000 Sats
* Bank gives credit account of 10,000 Sats (shows up as balance on LN wallet)
* Account holder pays 10 Sats for groceries with credit (LN wallet transfer)
* Bank transfers 10 Sats through LN channel to store’s bank LN address
* Bank can rebalance channel if channel funds get low
* Bank can provide channel funds as multiple of channel liquidity since transfer is limited only by ability to rebalance fast enough for all users to not have interruptions
* Proper channel management enables profit. Risk for credit default is eliminated since money is not created/destroyed, it’s based on future flow of Bitcoin in LN channels.
* LN public channel liquidity information keeps bank honest
* Bank routing node earns fees, participation by account holder increases transfers and thereby number of fees. Interest rate is LN fee rate.
Dumb idea?