/biz/ - Business & Finance

>>52758402
seething cuz you missed out kek

>>52758402
>why would I not stake the token that will power the 4th industrial revolution
>at 4.75% apy
>not including buidl rewards

>>52758402
DIDN'T READ, UNABLE TO SELL

>>52758402
>high yield savings account and get 4% risk free

What bank

>>52758427
missed out on what? the bnt style haircut you will get in a year? I bought link at 7 cents. sold at 30+ dollars. you missed out on the top and are bag holding.

>>52758439
>my schizophrenic delusion is an argument

>>52758445
tons of them are approaching 4% and will continue to go higher while you are staked at 4.75% and likely will be exploited/haircut/rugpulled/ponzi collapsed lmao

>>52758548

>>52758569
thank u sir

>>52758517
Yes.

>>52758443
>DIDN'T READ, UNABLE TO SELL

>>52758569
>risk free
Those no-name banks would borrow at +15% above Treasuries in a fair market.
>but it's FDIC insured
LOL!

>>52758931
>LOL!
literally not an argument. FDIC insured means I cannot get rugpulled like you will with your shitcoin.

>>52758931
don't you sign a class action waiver just to stake your shitcoin?

>>52758952
You can get rugpulled. "FDIC" stands for "Federal Deposit Insurance Corporation" (note: "corporation") that charges all banks a rate depending on the size of their deposit base, and that collected money gets paid out in the event of insolvency. However, the money-pile is not limitless and not government-guaranteed. In the case of widespread bank-default - the most likely case -, it'll go bust like any other insurance corporation which receives a deluge of correlated claims.

>>52758402
>4% risk free FDIC insured

Youre right... I think im gonna unstake and sell my link. Thanks for the tip!

>>52758990
>The FDIC—short for the Federal Deposit Insurance Corporation—is an independent agency of the United States government.

try at least having the slightest clue about what the fuck you are talking about chud

>FDIC insurance covers depositors' accounts at each insured bank, dollar-for-dollar, including principal and any accrued interest through the date of the insured bank's closing, up to the insurance limit.

>>52758952
As to how good that bank insurance is, we only need to look at Spain or Cyprus. Cyprus had been a member of the EU since 2004 and when the Eurozone crisis hit, it just took away any money in people's bank accounts above €100K. Spain bailed in depositors, converting their deposits into preferred shares, and then the banks defaulted on the dividends on those preferred shares too. Since then, legislation in both the EU and US has codified bailins under the nice-sounding slogan of creditors "sharing the risk", as if some fucking grandma is going to understand spread risk in interest rate swaps, and even that supposing that it's not off-balance sheet deals at liquidity risk that sink the bank. The name of that act? "Dodd-Frank", supposed to "end bailouts", though people don't like to say that it replaced bailouts by bailins.
When there's a systemic bank failure and the FDIC has to get a trillion dollars from the government, you can bet your ass that they'll default on depositors.
Lastly, depositors are unsecured creditors, meaning they rank lower than secured creditors. The derivative-deals of the bank will be paid out first in the event of bankruptcy, and depositors get pennies on the dollar from whatever is left over.
>>52759046
Obviously they're going to say that about themselves. Notice they conveniently forget to add "up to the FDIC's ability to pay" - which is not infinite.

>>52758474
imagine being this salty KEK

>>52758402
High risk high reward

>>52759170
>KEK

>>52759204
4.75% is not high reward, yet you are risking it all.

>>52758443
heh

>>52758402
because 4% isn't even inflation

>>52760583
neither is whatever the fuck yield you get with link or coinbase

>>52758931
I’m a member at citizens they’re a relatively big bank in my state. Banking is about 10,000x more regulated than crypto as well so idk why you went with that of all arguments. Must be desperation

>>52759094
I am an unrelated poster but what do any of you suggest to avoid the risk of banks/fdic failing to pay back depositors?

Hold cash? Hold bitcoin? Hold gold? Genuinely curious.

>>52758439
>>not including buidl rewards

i wonder when/if we'll get these. they say its for a "later version" of staking but still in this beta test. hopefully soon

>>52762751
If there's a really systemic failure, then you might bank on the government bailing out the FDIC, but that is an insane risk to take. If all you want is to not get rugged in USD-terms, buy US government bonds, because they're government-guaranteed.

>>52762751
I strongly doubt you exceed the limit of the amount you’re insured up to.
Every single thing you listed is much more at risk in terms of its own relative value against the dollar so if risk is your concern literally having your cash in a bank account is the safest thing you can do

>>52758402
>why the fuck would I stake risky unsecure and uninsured shitcoins when I can just park my cash in a high yield savings account and get 4% risk free FDIC insured?

go ahead and do it. you can do whatever you want with your money, no one is stopping you.

>>52762741
FDIC was created to instill confidence after the Great Depression, it did not actually have the funds to cover all deposits. It was psychological. This is documented and was taught to me in school.

Banks have a current reserve ratio of 0 which to my understanding means they need can loan 100% of your loans. I would love to hear if it also means they can invest all of your money as well since glass steagall was repealed.

Anyway I keep my money in savings with 4% apy and bonds. I genuinely have no perfect solution.

>>52758402
>why the fuck would I stake risky unsecure and uninsured shitcoins when I can just park my cash in a high yield savings account and get 4% risk free FDIC insured?

go ahead and do it. you can do whatever you want with your money, no one is stopping you. the same way you can't stop us from staking we can't stop you from doing whatever you want with your money too. you faggots act like some comments on the internet mean you have to follow the crowd. we're doing our thing you go and do your thing no one gives a fuck. that being said we'll still hijack your thread though because this is a link board.

wtf i just found out that this mr sirgay nazurov is a russian guy, so is he working for putin or what is this shit?

man you guys really convinced me, I'm selling my staked tokens right now!

>>52762841
good

>>52763302
whoosh

>>52758402
Because I get +0.75% on what the saving account described would give, while still maintaining exposure to my chosen and most favorite asset.

>>52758427
are you mentally ok?

>>52763393
>whoosh
whoosh

>>52762803
Yeah, your digits on the screen are insured for digits on the screen. I just want to protect my digits on the screen.

I didn't know interest rates were up again. Discover is giving me 3% on my regular savings account.
I'm thinking of buying a dividend etf stock as a secondary "savings account". Thinking of $SCHD
Is this stupid?
Where are you guys keeping your fiat?

So FDIC is a bunch of hooha?

>>52758402
Best to tread with caution when staking or carrying out any defi transaction. I am in the ORE-ETH pool for some decent return only after due diligence, ofc with what I won't seethe losing.