/biz/ - Business & Finance

>>54106629
True but unfortunately there's probably still a lot of confidence left. Especially now that the federal govt is insuring your money with the money printer no matter how many billions of dollars you put in. Now it's a free for all. Now you can just hand your billions of dollars over to literally any unvetted depositing institution especially so long as you're wealthy enough to be deemed "too big to fail"

Fractional reserve banking is more dangerous than nuclear weapons.

>>54106629
IT'S ALL JUST A GAME OF CHICKEN
IT'S A FUCKING GAME OF CHICKEN

>>54106629
>THE BANKS NEVER HAD THE MONEY, IT IS ALL JUST A CONFIDENCE GAME AND NO CONFIDENCE IS LEFT
You got it. The world isn't run by money, the world is run by trust.

I had no idea that banking was this fragile.

For years, I've been making arguments in favor of being pro-crypto because crypto is more efficient than the entire banking industry. Banks need thousands of locations, office buildings, and server farms all around the world with employees earning 100k+ a year each to function and even that is likely a very simplified summary of banks. Meanwhile Bitcoin works just by people running mining software.

I've typed these words a bunch of times and I just took for granted that the banks could handle it. Sure, Bitcoin is more efficient, but the banks know what they're doing (I thought). People who still trash talk crypto really don't have a leg to stand on anymore. It does everything better and can't be pulled out from underneath you because of centralized mismanagement.

>>54106774
your crypto is worthless without the banking system. that's how people cash out

>>54106629
Imagine being surprised by this, the goyim truly is cattle

>>54106774
Centralized banking system is a huge waste of resources.
Literally cancer of modern mankind.

>>54106786
The banking system could be useful as like a trusted third party for Bitcoin escrow for real estate, etc.
The dollar system isn’t really necessary

>>54106629
Welcome to two years ago the GME schizos have been saying this that long and it turns out we were the schizos for pointing and laughing at them.

>>54106629

>>54106786
The only thing keeping crypto down is the banks. They could all die tomorrow and crypto will still work just fine. All your bank accounts are is numbers on your phone and an ATM machine.

>>54106774
Fractional reserve banking should never have been legal desu.

>>54106685
>Fractional reserve
Habibi, reserve requirements were dropped years ago.

>>54106831
However, there would be too much chaos making the switch now… still needs a lot more development as well.

>>54106865
cool it with the antisemitic remarks

>>54106922
>chaos
that's gonna happen no matter what

>>54106852
Bankpilled again

>they said you can't withdraw? just be confident bro. have you tried being yourself?

>>54106865
Oy vey look at this antisemite!

>>54106685
>fractional
nigger it's 0 now, it's no reserve banking now