ItsMe on Nostr: I can't pontificate on the Silicon Valley Bank collapse, as I was not even aware of ...
I can't pontificate on the Silicon Valley Bank collapse, as I was not even aware of SVB's existence prior to this.
But apparently, people are clapping their hands at the pain likely to affect various #cryptocurrency businesses and their customers ... and at the other banks facing contagion.
No, we should let the FDIC do its job to the extent that it can continue to do so. That means merging banks together or bailing out depositors when they meet legal criteria. Not because I agree with the centralized banking system, but because people will be hurt otherwise.
We can use this as an example of why decentralized cryptocurrencies (and specifically whichever one you favor) are a better deal for most people, but most people won't listen while they're losing everything they owned.
But apparently, people are clapping their hands at the pain likely to affect various #cryptocurrency businesses and their customers ... and at the other banks facing contagion.
No, we should let the FDIC do its job to the extent that it can continue to do so. That means merging banks together or bailing out depositors when they meet legal criteria. Not because I agree with the centralized banking system, but because people will be hurt otherwise.
We can use this as an example of why decentralized cryptocurrencies (and specifically whichever one you favor) are a better deal for most people, but most people won't listen while they're losing everything they owned.