estenity
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March 12, 2023, 06:05:42 PM Last edit: March 12, 2023, 07:38:16 PM by estenity |
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Man I stopped fighting buddy and all hell broke loose.
I will continue to not contest buddy and hope for a more interesting effect.
I will say this SVB appears to have been targeted with a massive run by depositors.
Wonder what Mon and Tues bring us
Unless I missed something SVB had most of its money in government bonds. That's supposed to be the safest thing, aside from just holding cash I guess. But people want returns, so the bank has to do something with the money. They only incurred losses because they had to sell these bonds at lower than face value. If a bank with the safest investments can be brought down by a bank run in a couple of days, what does that tell us about banks that invest in mortgages, corporate bonds, emerging markets ? They should have raised funds proactively, once Fed started to raise rates aggressively, but they waited and tried to raise funds only once they sold MBSes at a loss. As a result, market got spooked and they got hit with large amount of withdrawals. You are right, though, fractional reserve is fractional reserve, it is all based on confidence. However, the question for most is: withdraw where? Apart from bitcoin, as we learn from the last year the answer is probably: who knows? anyway management error, rapid rate rises are sure to generate losses in gov bonds detained; banks are under predictable tension presently, and supposed to be able to bear this new charge brought by FED, if too exposed.
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BobLawblaw
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March 12, 2023, 06:16:53 PM |
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All hands to battle stations. We have a rare black bear sighting. The severity of this occurrence cannot be understated. Stay frosty. It's going to get ugly tomorrow. 
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goldkingcoiner
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To me, Bitcoin never dips.
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March 12, 2023, 06:28:38 PM |
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Looks like the march candle wants to eat itself up. Seems like a good buying opportunity to me.
edit: Price is touching the weekly golden Fibonacci ratio too.
Looks like a good time to buy to me too. But, traditional markets appear like they are going to shit the bed so they'll probably take us down with them. Screw tradition markets. This is Bitcoin, baby. All hands to battle stations. We have a rare black bear sighting. The severity of this occurrence cannot be understated. Stay frosty. It's going to get ugly tomorrow.  We killed the bear. Its dead.
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BobLawblaw
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March 12, 2023, 06:37:10 PM |
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Securing FDIC deposits is peanuts compared to the larger problem.
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Hyperjacked
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It's all mathematics...!
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Wow this rally will be epic !!! Ppl will fomo into Bitcoin Monday imo
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Torque
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Wow this rally will be epic !!! Ppl will fomo into Bitcoin Monday imo

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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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March 12, 2023, 07:01:16 PM |
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ivomm
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All good things to those who wait
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March 12, 2023, 07:17:08 PM |
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ChartBuddy
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March 12, 2023, 08:01:16 PM |
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vapourminer
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what is this "brake pedal" you speak of?
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March 12, 2023, 08:16:04 PM |
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looks like thats the btc/usdc pair
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dogebearman
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March 12, 2023, 08:37:15 PM |
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looks like thats the btc/usdc pair
Could also be bear/cat.
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philipma1957
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'The right to privacy matters'
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March 12, 2023, 08:40:05 PM |
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Wow this rally will be epic !!! Ppl will fomo into Bitcoin Monday imo
So far you look pretty good. Lets see how you look on monday.
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ChartBuddy
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March 12, 2023, 09:01:20 PM |
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dogebearman
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March 12, 2023, 09:07:09 PM |
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New Zealand opened. 
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Biodom
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March 12, 2023, 09:11:59 PM |
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New Zealand opened.  Down less than 0.4%...that's about....nothing. US legislators "like" to see Dow down 1000 points before they lift a finger, typically. I 'member it from 2008.
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Richy_T
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March 12, 2023, 09:25:58 PM |
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USDC was prone to problems from the start I do not know why people thought it was stable and would be around forever. Bitcoin is the only cryptocurrency worth investing in and stable coins are not stable they remain stable until people get bored and stop buying and then they collapse. I do not think USDC will collapse this time but in the next 5 years it will not exist. Bitcoin will exist and will be more stable because it is still around when USDC will not.
Yeah, imagine if someone came out with something like beanie babies and said "I'll sell you this for four dollars and it will always be worth four dollars". You'd look at them like they were crazy.
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