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Zero2Hero2MarginCall t1_jd68cey wrote

Here is the only thing you need to know: When 1 or 2 banks fail and contagion could drastically affect the broader markets, the entire fucking world stops hating each other for as along as it takes to bailout and fix the problem for the time being.

When a crypto exchange collapses, or Big Benis Dollar Pegging decouples, and wipes out trillions of dollars in a nanosecond, governments put the 2-10 people responsible in prison for eternity and say fuck all to the “money” that was lost.

Crypto will destroy itself, it doesn’t need the government’s help.

8

akmalhot t1_jd6hi9t wrote

They back stopped deposits of banks with charters , did not bailout share holders or debt holders ...

Crypto exchanges are not regulated depositories with bank charters and FDIC etc

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Ireallyasked t1_jd6zvbt wrote

Second point is the most shitty thing you could've said, government doesn't put anyone in prison, no money was lost/wiped it was stolen by the exchange or whatever the fuck it is

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jepifhag t1_jd7q4jz wrote

Gasp.... You mean we can trust greedy people anymore

1

Kitten_Team_Six t1_jd6fxi9 wrote

Btc has no fuks left to give. Other countries will become crypto hubs while the US worries about stupid shit

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Willheimer t1_jd68usi wrote

Replace the word "crypto" with "fiat" and the article actually makes sense. Of course, the banks and cash systems are scared of real competition.

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VisualMod t1_jd5un0v wrote

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1

plu5on3 t1_jd708y5 wrote

good. Crypto is centralized anyways

1

DogGodFrogLog t1_jd74sp2 wrote

hardly scathing. Its a circle jerk of how crypto is good tech and they want to use it.

They even make the argument crypto is money better than most lol

0

KingN0 t1_jd7hoaz wrote

Crypto is a scam that is controlled do not buy it

−1

KingN0 t1_jd7hrnk wrote

Also used on the dark web to pay for sex assassins children and other things without a trace. It’s a problem

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howthefuq- t1_jd7uk8m wrote

Bc cash isnt used to do that on a scale 100000x greater. Moron.

1