VALUE?????
I was born at night, but it wasn't last night.
Value is THIS:
Posted on 11/22/2022 6:37:38 AM PST by george76
And Segway stocks
A bank should have the assets to pay off their liabilities, a Ponzi scheme, not so much.
If by “creditors” they mean people with accounts, the only “constructive conversation” I would want to have is, “Here’s your money”.
Oh Crypto will go on for a while yet, as long as the institutional investors keep knowing how easily they can manipulate the market and keep pump and dumping, it will keep going....
Bigger Fools haven’t stopped showing up yet.
Calling these entities “exchanges” is a fraud. An exchange is a place where buyers and sellers meet to trade, for example, the New York Stock Exchange. I never heard of an exchange experiencing an ole fashioned bank run. The reason is these crypto “exchanges” are in fact fracticional reserve banks.
VALUE?????
I was born at night, but it wasn't last night.
Value is THIS:
>Bigger Fools haven’t stopped showing up yet.
By the time the prices start to rise the Senate will regulate crypto and say “see!? we fixed the problem!”
If the New York Stock Exchange banned margin transactions then your description would be correct.
With panic and margin calls collapse is always possible.
But they aren’t holding dollars. I am sure the account holders are looking to convert back to dollars, unfortunately for them they are trying to sell something that has much less or no value now. Can’t liquidate unless you have willing buyers.
I’m sure Biden will offer reimbursement, just like the student loan program.
I think I’m glad I know nothing about cryptocurrency.
Tesla (TLA) down 50% this year.
How is Doge doing? Still love the meme because Dogs. :-)
“A bank should have the assets to pay off their liabilities”
Agreed, but they do not hold enough cash to pay off all their depositors at once. That’s why a bank run is always bad. The money you deposit is loaned out to others in the form of mortgages and car loans. Try cashing a large check or withdrawing several $thousand on a Friday. Most banks hold limited cash. The main difference is with a bank, you MAY eventually get your money. A Ponzi scheme, not so much.
All of these craptocoins are worthless! Some just explode sooner than others.
Bitcoin, Binance, $COIN, Dogecoin whatever ... they’ll turn out worthless too!
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