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RE: Silicon Valley Bank | The 16th Largest Bank in the U.S. Goes Under

in LeoFinance • last year

Absolutely true but there is a big difference here and comparing the two is apples and oranges.

When people sell BTC, they're selling their money. 1 BTC = 1 BTC.

When people panic withdraw from a bank, they're straining the fractional reserve nature 1 USD does not = 1 USD when "70%" of the total asset are tied up in duration-based assets.

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last year in LeoFinance by
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     last year  

    Well let's put it this way: the purchasing power of bitcoin (in terms of food, clothes, property etc you can buy with it), is 44% of what it was before TerraLuna guy panic sold his reserves.

    Purchasing power is the only true value, as sadly you can't eat bitcoin :-)

    The lack of liquidity in crypto is a serious problem, as it leaves the whole eco-system vulnerable to panics.

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     last year  

    heheh...

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