You can't "go bank less" with Bitcoin, because you can't buy food and pay the bills with Bitcoin. Sad but true...
we don't need banks to buy food anyway.
Topic: NYCB Crashed by 45% - Yet another Bank Sunk - Bitcoin is the Ultimate Solution (Read 131 times)
February 02, 2024, 01:20:27 PM
You can't "go bank less" with Bitcoin, because you can't buy food and pay the bills with Bitcoin. Sad but true...
we don't need banks to buy food anyway.
February 02, 2024, 10:04:14 AM
A Local US Bank "New York Bancorp" 's Stock Dived into the Ocean Yesterday after the news broke up about Cutting down Dividends.
Can they recover from this disastor?
Can they recover from this disastor?
They are cutting dividends!
A bank that still pays dividends and has enough assets to move $552 million in provision to cover loan losses is not facing a "disastor"
We might be seeing more news like this, mostly because of the high interest rates in the USA. The same drama happened last year with Silicon Valley bank and Signature bank and everyone was a expecting a big financial crisis in the US, but nothing happened and the US GDP has a 2.5% growth for 2023.
Oh, thank you for reminding me I have outlived another economic crisis, probably I'm close to 2000 right now and about 100 ends of the world, 20 of humanity and ww124. People just don't learn that banks and business have been failing in the past, they have failed during the gold standard, they have gone bankrupt in ancient times, and I'm pretty sure 300 000 years ago there was a guy who couldn't pay back the two shiny rocks it borrowed to impress a female, but here we are, still standing and the economy keeps going.
February 02, 2024, 02:00:23 AM
You can't "go bank less" with Bitcoin, because you can't buy food and pay the bills with Bitcoin. Sad but true...
The Federal Reserve will step in and provide enough liquidity for the bank, if the bank really has problems. The NYCB stocks dropped, but that doesn't mean that the bank is insolvent and the depositors will lose their money. We don't need such unnecessary drama and clickbait news.
We might be seeing more news like this, mostly because of the high interest rates in the USA. The same drama happened last year with Silicon Valley bank and Signature bank and everyone was a expecting a big financial crisis in the US, but nothing happened and the US GDP has a 2.5% growth for 2023. I think that the news around NYCB are basically the same clickbait FUD drama.
This is a pet peeve of mine. People talk about how you could be "bankless" but the reality is that I can't spend bitcoin everywhere I go, I still need to spend fiat, and that means either I will have to have cash, or have a bank account and a card.The Federal Reserve will step in and provide enough liquidity for the bank, if the bank really has problems. The NYCB stocks dropped, but that doesn't mean that the bank is insolvent and the depositors will lose their money. We don't need such unnecessary drama and clickbait news.
We might be seeing more news like this, mostly because of the high interest rates in the USA. The same drama happened last year with Silicon Valley bank and Signature bank and everyone was a expecting a big financial crisis in the US, but nothing happened and the US GDP has a 2.5% growth for 2023. I think that the news around NYCB are basically the same clickbait FUD drama.
If I want to go with pure bitcoin, then I would also only have to buy things I can afford with the money I have at the moment, and never make a debt, which makes no sense to me since I would not be able to buy most of the things I have. Hell, in a sense I can't even pay my medical bills, because they are a lot, and just recently I took out a 2k dollar loan to pay for something, and how could I have done that with bitcoin if I didn't worked with a bank? It would not be possible at all.
February 01, 2024, 12:19:04 PM
A Local US Bank "New York Bancorp" 's Stock Dived into the Ocean Yesterday after the news broke up about Cutting down Dividends.
Can they recover from this disastor?
This is another proof why it is important to go Bank less which is only possible with Bitcoin
Can they recover from this disastor?
This is another proof why it is important to go Bank less which is only possible with Bitcoin
This is not the first time this has happened, and more banks may experience similar crashes in the future. They understand what is causing the crash and how to prevent it from happening, but because preventive measures are ignored and they are hoping for a boost or hope that the step they've taken will be effective, they later regret their actions.
Traditional banks existed for several years before Bitcoin; don't you think the solution to all of this is already known? However, the same mistakes continue to be made due to greed and other selfish factors. Given how far the banking system has progressed, bitcoin can’t replace it; let it remain an asset that they primarily see it as, even if it was intended to serve as an alternative to traditional banking system.
February 01, 2024, 12:01:45 PM
A Local US Bank "New York Bancorp" 's Stock Dived into the Ocean Yesterday after the news broke up about Cutting down Dividends.
Can they recover from this disastor?
This is another proof why it is important to go Bank less which is only possible with Bitcoin.
Can they recover from this disastor?
This is another proof why it is important to go Bank less which is only possible with Bitcoin.
It doesn't prove anything about the power of Bitcoin or about the need of having a bank less society. It is practically impossible for Bitcoin to replace the banking system. Also Bitcoin was never created to replace the banking system. So come out of the day dreaming to see a bank less society. Bitcoin is simply not powerful enough to handle the volume that the banking system handles alone in New York city.
If I compare Bitcoin to the traditional payment methods, Bitcoin looks like coming from the stone age. It is expensive and slow. Bitcoin is good as a parallel economy and that's it!
February 01, 2024, 08:47:12 AM
Bank Crashes are usually the result of wrong financial policies, such as expansion of lending, high-risk investments, or administrative corruption, or as a result of unfortunate events such as the collapse of a specific market, the occurrence of war, or a recession in a specific industry. Therefore, banks collapse and governments intervene to save them, and their assets are privatized and sold in auctions. many Bank failure is the problem because it is a sign of a problem in the economy.
(and everyone's life savings too - yet another reason to buy bitcoin).
In some countries, there is protection for customer funds up to a certain amount, usually between $100,000 and $250,000. if you distribute your money to several banks, you will usually be safe, but with the current inflation, I assume that it is rare for a person to leave liquidity above $100,000 without thinking about Invest it. 
February 01, 2024, 07:32:56 AM
A Local US Bank "New York Bancorp" 's Stock Dived into the Ocean Yesterday after the news broke up about Cutting down Dividends.
Can they recover from this disastor?
This is another proof why it is important to go Bank less which is only possible with Bitcoin
REF:
https://www.reuters.com/business/finance/new-york-community-bancorp-stock-tumbles-dividend-cut-surprise-loss-2024-01-31/
Can they recover from this disastor?
This is another proof why it is important to go Bank less which is only possible with Bitcoin
REF:
https://www.reuters.com/business/finance/new-york-community-bancorp-stock-tumbles-dividend-cut-surprise-loss-2024-01-31/
You can't "go bank less" with Bitcoin, because you can't buy food and pay the bills with Bitcoin. Sad but true...
The Federal Reserve will step in and provide enough liquidity for the bank, if the bank really has problems. The NYCB stocks dropped, but that doesn't mean that the bank is insolvent and the depositors will lose their money. We don't need such unnecessary drama and clickbait news.
We might be seeing more news like this, mostly because of the high interest rates in the USA. The same drama happened last year with Silicon Valley bank and Signature bank and everyone was a expecting a big financial crisis in the US, but nothing happened and the US GDP has a 2.5% growth for 2023. I think that the news around NYCB are basically the same clickbait FUD drama.
February 01, 2024, 02:42:34 AM
This isn't something new because US banks keep falling and rising all the time. It was especially worse after COVID for obvious reasons, but it has gotten a lot better in recent times thanks to the economy recovering slowly and steadily.
Most banks are handing out loans but do not have any cover for the loans if they go bad. So all it takes is for a few big guys to default, and the bank will go down. You can see it in action with billionaires. They usually borrow money from banks against their stocks, so if these guys were ever to default then they can actually bring the banks down with them (and everyone's life savings too - yet another reason to buy bitcoin).
February 01, 2024, 01:22:09 AM
This isn't something new because US banks keep falling and rising all the time. It was especially worse after COVID for obvious reasons, but it has gotten a lot better in recent times thanks to the economy recovering slowly and steadily.
BTC is seen as an asset by most investors which is why it's downright silly to think that it can replace banks currently.
BTC is seen as an asset by most investors which is why it's downright silly to think that it can replace banks currently.
February 01, 2024, 12:01:41 AM
A Local US Bank "New York Bancorp" 's Stock Dived into the Ocean Yesterday after the news broke up about Cutting down Dividends.
Can they recover from this disastor?
This is another proof why it is important to go Bank less which is only possible with Bitcoin
REF:
https://www.reuters.com/business/finance/new-york-community-bancorp-stock-tumbles-dividend-cut-surprise-loss-2024-01-31/
Can they recover from this disastor?
This is another proof why it is important to go Bank less which is only possible with Bitcoin
REF:
https://www.reuters.com/business/finance/new-york-community-bancorp-stock-tumbles-dividend-cut-surprise-loss-2024-01-31/
Jump to: