03-12-2023, 09:24 AM
Remember the very reason crypto exists in the first place when these financial giant
<!-- SC_OFF --><div class="md"><p>With these banks dropping like flys and fear spreading through all financial markets recently, keep on mind crypto solves these problems.</p> <p>The corrupt lawmakers are trying to continue to spread lies that crypto is to blame for these financial institutions going under since they have 1-2% exposure to this industry.</p> <p>Don’t believe them. The reason banks fail to begin with is because they do not have collateral to back customer assets 1:1, so when a bank run happens they are illiquid. When you give banks your money they immediately lend it out, so they no longer have your money, just IOUs. Same thing when you borrow from a bank. They are just giving you fake money to use that they do not actually have to lend.</p> <p>With crypto you own your own coins on the blockchain if you self custody. There is no risk for this to happen, even if exchanges fail.</p> <p>Is it a coincidence, that back in 2008 when these “to big to fail” banks all failed, and the government bailed them out causing a further devaluation of the dollar and higher debt was when bitcoin was created shortly after?</p> <p>Bitcoin is the answer</p> <p>Help your future self and buy btc NFA</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/z0uNdz"> /u/z0uNdz </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11ootxg/remember_the_very_reason_crypto_exists_in_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11ootxg/remember_the_very_reason_crypto_exists_in_the/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>With these banks dropping like flys and fear spreading through all financial markets recently, keep on mind crypto solves these problems.</p> <p>The corrupt lawmakers are trying to continue to spread lies that crypto is to blame for these financial institutions going under since they have 1-2% exposure to this industry.</p> <p>Don’t believe them. The reason banks fail to begin with is because they do not have collateral to back customer assets 1:1, so when a bank run happens they are illiquid. When you give banks your money they immediately lend it out, so they no longer have your money, just IOUs. Same thing when you borrow from a bank. They are just giving you fake money to use that they do not actually have to lend.</p> <p>With crypto you own your own coins on the blockchain if you self custody. There is no risk for this to happen, even if exchanges fail.</p> <p>Is it a coincidence, that back in 2008 when these “to big to fail” banks all failed, and the government bailed them out causing a further devaluation of the dollar and higher debt was when bitcoin was created shortly after?</p> <p>Bitcoin is the answer</p> <p>Help your future self and buy btc NFA</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/z0uNdz"> /u/z0uNdz </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11ootxg/remember_the_very_reason_crypto_exists_in_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11ootxg/remember_the_very_reason_crypto_exists_in_the/">[comments]</a></span>