Another bank again | Bitcointalksearch.org

yazher

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Quote from: yhiaali3 on April 26, 2023, 12:38:24 PM

Yes, bad news for the banks and the government at the same time. The government is a friend of banks and enemies of Bitcoin, so how painful it is for them to see their friend collapse and their enemy prosper.

Governments should reconsider their attitude towards banks and bitcoin and look wisely into the distant future.

Governments always partner with those who give them more money and when they saw that bitcoins cannot be controlled, they took the initiative to make it look bad by banning or putting bad consequences on whoever using it. this is the case in some part of the countries in the world and now they see that the inflation is really brutal and major banks are slowly collapsing one after another, they might gonna change their decision soon and I think when that happen, the golden era of bitcoins and the cryptocurrencies as a whole will start.

be.open

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Quote from: Gyfts on May 01, 2023, 04:03:45 AM

First Republic Bank becomes 3rd major bank to collapse in last 3 months - https://www.nbcnews.com/video/first-republic-bank-seized-by-regulators-sold-to-jpmorgan-172003397561

Feds seized the assets and sold them to JPMorgan. This is only one bank of many more to come. The confidence in the system can vanish very quickly.

Back in March, First Republic were trying to convince their creditors that they had access to a pool of liquidity to the tune of 70 billion USD: https://news.firstrepublic.com/news-releases/news-release-details/first-republic-bank-strengthens-and-diversifies-liquidity

How well did that work out for them Roll Eyes

The good news is that all deposits are safe, including those over 250k. The bad news is that all shareholders of the bank suffered significant losses as a result of the fall. Therefore, the outflow of deposits may be able to slow down, but I think we will still see panic sales of other banking shares.

Gyfts

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First Republic Bank becomes 3rd major bank to collapse in last 3 months - https://www.nbcnews.com/video/first-republic-bank-seized-by-regulators-sold-to-jpmorgan-172003397561

Feds seized the assets and sold them to JPMorgan. This is only one bank of many more to come. The confidence in the system can vanish very quickly.

Back in March, First Republic were trying to convince their creditors that they had access to a pool of liquidity to the tune of 70 billion USD: https://news.firstrepublic.com/news-releases/news-release-details/first-republic-bank-strengthens-and-diversifies-liquidity

How well did that work out for them Roll Eyes

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Quote from: DONZAKA on April 28, 2023, 07:27:59 AM

The grip of the banks over people is bound to drop over time once people realize the benefits of acting saving or investing your money in crypto currencies.

Soon we will only use them as an exchanger.

I am someone who is already doing it,using the bank just to get my Bitcoin to my VISA card through the bank.I don't do anything else except getting my payroll there which I withdraw the needed money for the month immediately and the rest I buy crypto to keep in my wallet as store of value,as they say banks can always print money making the money you save not be sufficient or enough so what better way than keeping crypto to your wallet which you have full control over and not third party wallets.Based on this I don't care much if a lot of other banks follow this trend,people should start to act smarter.

DONZAKA

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The grip of the banks over people is bound to drop over time once people realize the benefits of acting saving or investing your money in crypto currencies.

Soon we will only use them as an exchanger.

blockman

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Quote from: Kara3 on April 26, 2023, 04:29:05 AM

First republic bank lost 50% of it's value today and will reportedly be seize by the US government.

Another major bank has collapse, banks are dumping an bitcoin is pumping,
It pains me to see what is happening to the banking sector, but the good news is that bitcoin is doing what he knows how to do best, keep on pumping.

Well, this is a phenomenon that we're seeing. Banks here and there are starting to have their shares plummet and recording all-time lows with their shares.
Whilst bitcoin is doing good, people is starting to see that there's something wrong with the banking system that must be changed. And, we don't know how many of them will come and bite the dust from these known banks that have been operating for years. Just for the record and reference, here's a link to the news.
(https://www.reuters.com/business/finance/first-republic-bank-shares-plummet-day-after-hitting-record-low-2023-04-26/)

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They would soon sort out the banking crisis if they started to lock up the executives that made the fraudulent, and imprudent loans to and investments in criminal organisations and countries.

be.open

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Quote from: mindrust on April 26, 2023, 01:17:45 PM

We need to see more of these failing companies. Any company that made bad decisions in the past should suffer the consequences of their actions. They should go bankrupt so their capital gets released and somebody else will replace them and do a better job. That's what capitalism is all about. If a company does bad practices, they need to go down so another company that is better at doing the same thing can replace them. The customers need to be smarter when choosing a business partner too. They need to stick to the bigger and safer banks so their capital will be safe in an event like that.

Let's be honest, with the current level of development of digital technologies and cryptography, any commercial banks (no matter how big or small) are an unnecessary intermediary between the central bank and the end client (regardless of legal entity or individual). There are no reasonable reasons other than historical reasons why commercial banks continue to exist.

All banks will die.

mindrust

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We need to see more of these failing companies. Any company that made bad decisions in the past should suffer the consequences of their actions. They should go bankrupt so their capital gets released and somebody else will replace them and do a better job. That's what capitalism is all about. If a company does bad practices, they need to go down so another company that is better at doing the same thing can replace them. The customers need to be smarter when choosing a business partner too. They need to stick to the bigger and safer banks so their capital will be safe in an event like that.

Wakate

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More of this kind of new is still going to be coming since the government don't want to face the reality. People are fade up of the inflation increase making money to be scared and we have to do extra work for us to earn extra fund so we can pay bills. Since the government don't want to adopt the use of Bitcoin, they should expect collapsing of banks because people no longer have fate in the fiat. It is just unfortunately that this is happening now that Bitcoin is about to push some green candles to the market.

yhiaali3

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Yes, bad news for the banks and the government at the same time. The government is a friend of banks and enemies of Bitcoin, so how painful it is for them to see their friend collapse and their enemy prosper.

Governments should reconsider their attitude towards banks and bitcoin and look wisely into the distant future.

Die_empty

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Quote from: Kara3 on April 26, 2023, 04:29:05 AM

First republic bank lost 50% of it's value today and will reportedly be seize by the US government.

Another major bank has collapse, banks are dumping an bitcoin is pumping,
It pains me to see what is happening to the banking sector, but the good news is that bitcoin is doing what he knows how to do best, keep on pumping.

The bank is in a terrible situation and the only viable solution now is for government to take over the bank like SVB and Signature. Another hard alternative is for other banks to buy First Republic Bank bonds above the market value which will help to stabilize its shaky balance sheet. From all indications no bank is willing to invest more funds on the bank after they have injected a whopping $30 billion last month to save it from collapse. Now it seem the collapse is imminent. Customers are withdrawing funds from banks and the Bitcoin space is a viable investment platform this might be the reason for the slight pump in the price of Bitcoin and other altcoins.

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I just checked their stock valuation and it seemed that they started to get in problems since last March 8th, it was been a nose dive from that point.
I guess investors knew what was coming just let the stock to sink in, specially now Mr Biden and his administration have proven not to be willing to offer open bail outs to any bank that collapses this year.

Source: Google

Even though Bitcoin is doing relatively good, i worry how these banks bankruptcies could negatively affect the Crypto-FIAT liquidity in the mid term or the long term, most of stable coins are bank backed, after all. Developers are yet to find a fully reliable solution to that problem, even DAI suffered some de-pegging weeks ago, fortunately it was just a close call. Tongue

Gyfts

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Good thing is they won't be bailed out by the U.S. government: https://www.reuters.com/business/finance/first-republic-bank-shares-plummet-day-after-hitting-record-low-2023-04-26/

The larger banks will come in and provide more funding if they want the 30B they've already put in to completely vaporize, which is what the CEO also saying. It isn't reasonable for the government to continually step into the private sector and provide emergency funding when the markets are under duress. These banking institutions and their depositors knew the risks going in.

Remember -- you as an individual investor do not have such protections. But somehow the banks think they deserve it for no other reason than their wealth status.

Kara3

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First republic bank lost 50% of it's value today and will reportedly be seize by the US government.

Another major bank has collapse, banks are dumping an bitcoin is pumping,
It pains me to see what is happening to the banking sector, but the good news is that bitcoin is doing what he knows how to do best, keep on pumping.

Topic: Another bank again (Read 141 times)