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/biz/ - Business & Finance

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54376892 No.54376892 [Reply] [Original]

Let's face it, this an evidence that the traditional banking system is outdated and broken asides from been notorious for shady practices.

I believe it's Bitcoins time to shine, I wonder what the US government plans to do now that bitcoin is winning?

>> No.54376921

>outdated and broken
for who?
for the people in power it's working exactly as intended. the guys who can change it won't in a million years.

>> No.54376938
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>fudding banks in a crypto board

>> No.54376942

They are already
>calling it a security so the SEC can regulate it
>calling it a commodity so the CFTC can regulate it
>increasing taxes on it
>banning VPNs that buy it on binance
>buying up as much of it as they can to manipulate the price
>targeting crypto-affiliated banks with bank runs
>taxing crypto-to-crypto (seriously?)
What more CAN they do?

>> No.54376957

drone you anytime, straight from your own tax money

>> No.54376965

>I wonder what the US government plans to do now that bitcoin is winning?

I heard an anti-crypto army is already being formed within the congress, this might be the wildcard they have for their Anti-crypto war.

>> No.54376993

what is this hits back to as an anti jew army?

>> No.54377008
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ay caramba que es esto?

>> No.54377011

sorry I am Indian!

>> No.54377022

colo terrorita!

>> No.54377034

BTC will never achieve its white paper goal. The new financial system has its chosen coins that will be the backbone of the future, BTC isn't on the list.

>> No.54377124

>Bitcoins time to shine
Not happening anytime soon, the bear market will definitely last longer than you faggots think

>> No.54377311

20 yrs jail term for anyone using VPN won't work

>> No.54377330


>> No.54377577

Some Poorfags got burnt so badly with the SVB fall weeks ago, I'm always in support of crypto payment and I hated fiat so I can't be sorry for them. Right now I mostly looks for every opportunity I can get to pay with crypto this is even one of the reasons I traveled to Lugano a city in Switzerland for my last Vacation fee weeks ago and it was fun been able to pay with BTC

>> No.54377608

Banks fail all the time, brainlet. It's called capitalism.

>> No.54377727

I wonder who still keeps money in banks, I now save in stables which I earn yield from staking it through a DeFi middleware

>> No.54378029

This is just the beginning of the clamp down on Crypto. CBDC would be the major challenge that crypto would face

>> No.54378062

The plan is to cripple all the big crypto firms so that the smaller ones can run for safety. This recent law suit against CZ and Binance is a pure witch hunt; this just goes to further buttress the need for crypto to go as decentralized as possible. They can't attack BTC because there's literally no one entity to attack.

>> No.54378120

If you think CZ is a clean player then you are a madman.

>> No.54378131

BTC will always be a part of the crypto future; it's too influential to be ignored.

Who needs CBDCs when we've got stables that can be leveraged on Defi platforms for yields?

>> No.54378208

>new financial system has its chosen coins
none of which you will be able or allowed to buy.

hence why bitcoin has already won. it's the only neutral asset that everyone agrees is the only neutral asset. nobody is adopting an altcoin, and the "chosen coins" either don't exist or are simply internal tokens with no external market value.

>> No.54378231

>Banks fail all the time, brainlet. It's called capitalism.
But if it was a 5% dip on BTC retards like you will be claims of how Bitcoin is backed by nothing.

>> No.54378305

That someone is guilty for murder doesn't mean he/she should be charged for armed robbery; no where in that text suggests that CZ is a clean player. Faggot!

Banks may fail but Defi doesn't because we wouldn't let it fail since we're the ones in charge. I stopped utilizing banks to save a long while ago when I discovered I could enjoy better saving services on Defi.

>> No.54378370

I heard over 150 merchants now accept crypto payment in Lugano through Utrust, which is pretty bullish, crypto payment is the future

>> No.54378376

There is no difference between CBDC and fiat so it won't do any shit, and we have stables that can earn us yield for holding, so fuck CDBC

>> No.54378502

They could try building their own ASICs and running a giant mining operation out in Utah so that they could fork the chain and confiscate funds from "terrorists" (free-thinkers).

>> No.54378657

>I stopped utilizing banks to save a long while ago when I discovered I could enjoy better saving services on Defi
DeFi staking is the best, especially when diversifying through middlewares that have good risk management system

>> No.54378900

How will they catch me if I'm using a VPN in incognito mode?

>> No.54378965

Lmao, do you really think that there is something that can't be tracked on the internet?

>> No.54378987

>Who needs CBDCs when we've got stables that can be leveraged on Defi platforms for yields?

DeFi platforms are quite better considering they offer more security as opposed to banks who are quite notorious for mismanagement of funds.

>> No.54379020

>How will they catch me if I'm using a VPN in incognito mode?
You must be a real joker if you think your VPN on incognito mode means anything to the government.

>> No.54379090
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There is no way that I would leave self custody and the 16% APR for staking stables on SpoolFi for CBDC

>> No.54379220

The main reason why I use the Dao-First yield aggregator for farming is because of security.

>> No.54379443

>US government plans to do now that bitcoin is winning
They are planning to clamp down Binance, stablecoins then Bitcoin. While moving to impose CBDCs on civilians.

>> No.54379533
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This can go further than what you have stated. You should say it all if you want to. You did not mention the diversification of funds. Isn't that risk mitigation?

>> No.54379547

>>fudding banks in a crypto board
>Silicon valley bank
>Credit suisse
fudding crypto in bank sub.

>> No.54379630

It would be Bitcoin's time, if the entire market wasn't operated and dominated by a small group of frauds.
They need to go before BTC ever achieves anything.

>> No.54379653

Isn't old fashioned ranjeet? How is yield in virtual world better than banks? JPMorgan, Bank of America will never fail, else everyone dies.

>> No.54379733
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>Everyone hear me out.
Unless DeFi offer sustainable interest, the banks will still lead them.

>> No.54379816

>JPMorgan, Bank of America will never fail, else everyone dies.

They said the same thing about Credit Suisse, guess what happened?

>> No.54379855
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Lol. I've been in Defi for some time now and its yield is far better than what any fucking bank can offer so fuck them. Either on Compound, Curve or through Spool, I still find Defi better

>> No.54380005

They got bailed out

>> No.54380055

Funny thing is that a 5% drop in BTC will be followed by a 15% rise(at least) but a fall in banks is the end literally.

With middlewares that allow you leverage on an array of protocols from a single access point, you have an extra layer of safety if 1 of these protocols experiences any shortcomings. For example, I only lost about 6% of my assets from this Euler hack because they were properly diversified. I hear he's returning the fund, so I'll probably lose nothing at the end of the day.

>> No.54380145

Not just Defi, needs to have a functional DAO too.

Virtual yield? It will be interesting to see your arguments when Defi platforms begin to support RWAs; the time is really near as some platforms have started dropping snippets of what's coming in the near future.

>> No.54380217

What about dark net? It's a totally different world out there.

Which Defi platform were you interacting with Euler from?

>> No.54380235

Not many of them have measurable risk management system though, I've only seen one with it alongside a smart vault

>> No.54380357

I don't see how yields of 4-22%(including the tokens that are used to incentivize pools) will not be sustainable in the long run. It's not hard maths to dyor before getting into any platforms though.

>> No.54380530

Asides RWA, institutional grade DeFi is another aspect that we should look into

>> No.54380560
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>taxing crypto-to-crypto

>> No.54380613

>BTC will always be a part of the crypto future; it's too influential to be ignored.
for now

>> No.54380833

Maybe you retards shouldn't have done illegal things, just saying.

>> No.54380971

SpoolFi has this in its V2 which will be coming out soon

>> No.54380981

Banks are just not worth it. Quote me wrong.

>> No.54381008

I know about Spool only and their security measure are not bad at all.

>> No.54381077

>The new financial system has its chosen coins that will be the backbone of the future, BTC isn't on the list.
You globohomo dick riders truly disgust me

>> No.54381143

Putting your money in a bank is no different than going to las Vegas and instead of gambling yourself you hand all your money to a gambling addict who then gambles and loses all the money for you.

>> No.54381270

Using that DeFi middleware is better than staking on the other yield protocols individually because it helps reduce your level of exposure to risk

>> No.54381388

An ape from the cave doesn't understand what global village is all about. No hidden place for culprits.

>> No.54381441
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The diversification of funds makes it a good way to mitigate risk. Those who were using solely Euler finance took too much risk.

>> No.54381463

You think any single project can bring institutional grade DeFi to blockchain. Institutions are diverse just thesame way as data.

>> No.54381555

Doesn't idle, yearn, Curve, Convex etc has their own risk management strategies or the exist on porous contract. Stop talking down my place of asylum.

>> No.54381588

They can but they will do as much work as the existing projects working on it have already. So yeah, if they can put in the work.

>> No.54381604

so what, globalization is crumbling and russia or china will jump in anything that damages the americans. If anything can be done about crypto, it must be done globally

>> No.54381621

That doesn't mean they won't go bankrupt again two years from now.

>> No.54381645
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Ignore BTC at your expense. I will never do that. BTC and stablecoins are my backup

>> No.54381758

The point of banks is aggregate people's short term cash, and use that to produce long term investment returns. Its taking on short term debt, the deposits, and longing long term debt, loans, bonds, etc. Since long term debt usually pays more the bank profits.

The problem is the transition from extremely low interest rates to high interest rates means the yield curve is deeply inverted at the moment. So shorting short term and longing long is money losing right now, which is why banks are going to be under pressure until rates level off.

If you think about, banks are getting almost 5% interest on their reserves. A new bank right now could just go 100% reserves and make more money than established banks that have all this baggage they invested in pre-2021. Individuals can also get 5% on tbills so withdrawals are going to continue because it makes no sense to keep money in a bank right now.

This is pretty bullish for equity and crypto imo. I means we are only starting to see the bad effects higher interest rates will have on banks, while the damage has already mostly been priced into equity and stocks. The fed is either going to have to pivot on rates, or introduce massive backstops that will end up losing financial conditions, and just hope inflation slows to 4% or something.

>> No.54382037

If not for yield farming on spool, I still don't see reason why I would hold in stables. I will rather buy BTC

>> No.54382315

Make them seethe, let then know PoW SHA-256 is glownigger technology used to test the waters.

>> No.54382339

fiatcels can't be chads

>> No.54382566

I leverage my stables on SpoolFi and I stake in a pool that has Idle finance as 1 of its risk strategies. That's how I got exposed to the hack but I had a pretty much negligible outcome compared to those who lost everything from platforms with no proper risk mitigation strategies.

>> No.54382600

This V2 has to be immaculate at launch. I hear they just concluded the audits by Trial of Bits and will have another round of audits after due changes have been made.

>> No.54382625

>banks fail
>everyone: worried
>me: made tens of thousands for nothing
I lol
I kek
I jej even

>> No.54382721

A lot of anticipation and teaser on this. I can not wait to for it to finally launch.

>> No.54384874



but what's your point?