I distinctly remember the bitcoin price moving up as the regional banks were selling off back when all of that was going on the first half of 2023. In real time, the opposite movements felt directly connected.
Bitcoin Price Thread
- Thread starter Magna
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Don't be fucking stupid, mate, that's not Bitcoin getting a bailout those are banks getting a bailout, something that is not surprising
Explain to us how Bitcoin will get a bailout? It's not a company,
Bitcoin is a a decentralized and global monetary network that settles over $20 Trillion of value per year, but it's not connected to any of the financial system
Don't be a fucking retard, mate, that's why you keep losing on your bitcoin trades because you're too stubborn and cannot admit your a noob Bitcoin trader
The Bitcoin whales are bending you over but you keep coming back, you should follow me I'm experienced in the Bitcoin markets I stopped trading Bitcoin,
You're a noob Bitcoin trader and accept it or you'll keep getting stopped out
I also remember the failure of the Silvergate and Signature Bank were initiated and pushed by certain lawmakers
We have a precedent on how there is no bailout for the crypto companies or any entity involved with crypto assets
- FTX and its investors and customers did not get a bailout
- Gemini Earn and its customers did not get a bailout
- Genesis and customers did not get a bailout
- Celsius and customers did not get a bailout
- BlockFi and customers did not get a bailout
- Voyager and customers did not get a bailout
- MtGox and customers did not get a bailout
- Luna and the Luna foundation did not get a bailout
- 3AC did not get a bailout
- There was not a single crypto company that got a bailout
Wall street was wating for Microstrategy and Coinbase to declare bankruptcy as their stock prices were down over 90% and 95% respectively
The whole crypto assets ecosystem was burning down, everyone thinking El Salvador was about to default on their debt with the IMF
There was not a single dollar of a bailout for the crypto industry that was worth Trillions of $... and that is the way it should be
- no quarter asked, no quarter given
You beat me to it John... although I wasn't gonna swear.... LOL....FUCK YOU ASSHOLE THERE IS NO BAILOUT IN BITCOIN
read it slowly, so you can understand it
Have a nice day!
I was gonna reply to you earlier Schizo about this exact same line, but John beat me to it. No bitcoiner is asking for a bailout. We are here to bail out the fiat system.
I go from being bearish to incredibly bullish. The price action looks like shit to be honest, but I honestly don't see how bitcoin doesn't surprise everyone just this cycle. I really don't think there is any hope for the current system. Everyone says it will take decades for the current system to die, but that would entail that they fix the problems we have right now.
Let me outline the key points here in Canada. Trudeau said recently that "housing needs to be more affordable, but dropping RE prices will put retirement in jeopardy". I read about a city in BC where the development taxes rose by $50k for a 1 bedroom unit. That's right. $50k extra in taxes, that goes straight to the government, who will just waste it. 1 in 4 Canadians suffering from food insecurity and the food banks are in crisis mode. Then there is a shit ton of immigration, and they don't have any jobs. I hear people complain that all the immigrants are willing to do any job for minimum wage, so that has all the locals pissed off. And on top of this, 1/3 said they were considering leaving Canada, and many have already done so, with stats to back this up. The RCMP is in the middle of 6 or 7 investigations into corruption by the Liberal party with regards to spending and contracts.
So when you add it all up, there is no fix. Its been a slow decline for a decade of two, and now we are in crisis mode. You tell me, how does this stay together for another 5 to 10 years? Can they really print more money to help all the people struggling? Of course not... this will kill the CDN dollar and make inflation that much worse. But if nothing is done, all those people already struggling will be so much worse. All the immigrants are protesting in order for the government to make them permanent residents, but lets be honest, they aren't adding enough to the system, and sucking more resources than they provide.
I say its all at a boiling point, and I feel the same way about many parts of the US. There is no more runway now. If this cycle is a cycle of first a printing bonanza to lead to a boom, it ends in the bust as people are predicting. But if instead it just goes bust, which I think is possible because the Fed is too scared to blow up the bubble even bigger, then the bust will come sooner. NVDA is already in boom phase, so what will it look like if they do pump this to the moon?
In conclusion, this cycle is much different than any other cycle. I see people like Jeff Snider calling for deflation because this is what the yield curves show, and others like Luke Gromen or Lynn Alden are calling for bouts of high inflation. The reason why nobody can agree is because this is gonna be the cycle to end all cycles.
In 2008, not too many people were trading the markets from home or watching everything in real time like they are now. But everything moves so quick now, and we even have evidence of this in the form of the bank that blew up last year which had $50B outflows in only days. It was actually very fast.
So I really do think its only gonna take a year or two for the whole system to come apart.
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I have vowed to not argue with you, but I simply want to encourage you to explore what money is. If you truly understand what money is, and its actually quite simple, then you would also understand why the current form of money is so toxic. There is no way that you can both truly understand money, and yet not see why Bitcoin is a 100x improvement on what money is. Here is an excellent video that explains it all so well.
C'mon, are you really that slow? If it weren't for Circle and other large depositor who stand to lose billions of dollars, do you really really really believe the government would have bailed out those banks???
LMAO! Thanks for the laugh.You're a noob Bitcoin trader and accept it or you'll keep getting stopped out
C'mon, are you really that slow? If it weren't for Circle and other large depositor who stand to lose billions of dollars, do you really really really believe the government would have bailed out those banks???
Crypto bros do not care about the banks, let them fail
By the way, you are a very gullible person, if you think they bailed out those banks because of Circle and other depositors...
They were afraid of the bankruns across thousands of small banks, emergency bailout, BTFP to save the bond market that was about to get slaughtered as those banks would need to dump their assets collateral,
I read somewhere here that you're good with the charts, why don't you go back to the charts when all of that debacle was going on and see how Bitcoin price reacted?
Before, during and after the bailout, it happened over the weekend
I was here actively posting about it, search USDC or Circle, so you have a time frame of reference
I posted I owned Tether USDT... I also posted it was a good time to buy USDC as it was 12 percent depegged
You're 2 for 2! (sorry Schizo... I gotta give this one to John again)
Its truly amazing how weak the government is. The rules were very clear. Anything over 250k is not insured, and yet, everyone was bailed out. Just like in 2008.
There have been so many chances for the government to actually show some balls and restraint, but nothing. The banks on their own are fucked, so the government has to keep bailing them out. And yet, crypto companies on their own are doing just fine, and so the government has to actively target them.
This even gets into the whole issue with Caitlin Long and her Custodia bank that she was trying to get to have a Fed master account. It wanted to be a bank that was always 100% backed with reserves, but their application keeps getting turned down. The Fed only wants to deal with reckless banks that it will have to bail out.
Its truly amazing to see how governments are always making decisions that will be the worst for individuals and taxpayers, and yet only benefit the elite at the top.