What is Nostr?
Byzantine
npub1t5w…6dke
2023-03-20 11:08:36
in reply to nevent1q…uta2

Byzantine on Nostr: what @girevik​ is saying is that no amount of buying can create a global fiat run ...

what @girevik​ is saying is that no amount of buying can create a global fiat run but if everyone customer at "Alice bank" buys bitcoin using an exchange that banks with "Bob bank" then "Alice bank" can definitely have a run and "bob bank" will be left standing.

same amount of fiat in the system just all at a new bank

"Alice bank" collapses and "Bob Bank" is bigger

today "Bob Bank" is JPMorgan and will be the last bank standing and will soon be called JPMorgan-Fed bank


For every Bitcoin buyer, there is a Bitcoin seller. No amount of fiat actually leaves the banking system and buying BTC is not a bank run.
Author Public Key
npub1t5wc8h37uhkau9tsw82sjxndq04d3n8p634utpdfvs4tm5xmt2sqgk6dke