Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 2228.

hisslyness

hero member

Activity: 756

Merit: 1843

Quote from: AverageGlabella on March 13, 2023, 12:29:56 PM

Quote from: hisslyness on March 13, 2023, 12:26:29 PM

EDIT: Who is Silicon Valley Bank?

Silicon Valley Bank (SVB) was a commercial bank headquartered in Santa Clara, California. The bank launched on October 17, 1983

For a bank that stated in 1983, you think they would have more of their own funds, after 40 years of business!

I guess this is what happens when you run your business based on debt! Loans (ie deposits) get called in and your fucked!

Maybe a new approached to the entire banking system is needed!...

You mean a new system like not trusting banks and being your own bank? I think this system already exists and has been alive for over 10 years. I know you know this and I know that a lot of people know this on WO but I wonder how long it will take fiat users to realize that a alternative already exists and they are using a system that will always fail eventually. Hopefully for us they find out sooner rather then later.

Unfortunately, the masses are too entrenched in the status quo, to realise how "the top 1%" and "Big Corporations" are institutionally raping them of their financial freedom.

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: Biodom on March 12, 2023, 05:51:09 PM

Sidenote: they closed Silicon Valley bank and ALSO the Signature bank, apparently (Silvergate closed last week).

So someone really hates banks starting with an S.

AverageGlabella

legendary

Activity: 1232

Merit: 1080

Quote from: hisslyness on March 13, 2023, 12:26:29 PM

EDIT: Who is Silicon Valley Bank?

Silicon Valley Bank (SVB) was a commercial bank headquartered in Santa Clara, California. The bank launched on October 17, 1983

For a bank that stated in 1983, you think they would have more of their own funds, after 40 years of business!

I guess this is what happens when you run your business based on debt! Loans (ie deposits) get called in and your fucked!

Maybe a new approached to the entire banking system is needed!...

You mean a new system like not trusting banks and being your own bank? I think this system already exists and has been alive for over 10 years. I know you know this and I know that a lot of people know this on WO but I wonder how long it will take fiat users to realize that a alternative already exists and they are using a system that will always fail eventually. Hopefully for us they find out sooner rather then later.

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: BobLawblaw on March 13, 2023, 12:25:15 PM

Quote from: Biodom on March 13, 2023, 12:13:08 PM

what this has to do with "crypto" in the first place?

Jeopardy: "A recent Silicon Valley-based bank that was a major player in providing fiat liquidity for the crypto exchanges"

nonsense...SVB and signature had very little exposure to "crypto". The only one that had was Silvergate, which failed quietly.
The rest failed because of the mismatch between withdrawals and declined value of holdings.
You listen to MSM a bit too much, it seems.
They call it this way to place the blame on us, but it does not "stick".

hisslyness

hero member

Activity: 756

Merit: 1843

EDIT: Who is Silicon Valley Bank?

Silicon Valley Bank (SVB) was a commercial bank headquartered in Santa Clara, California. The bank launched on October 17, 1983

For a bank that stated in 1983, you think they would have more of their own funds, after 40 years of business!

I guess this is what happens when you run your business based on debt! Loans (ie deposits) get called in and your fucked!

Maybe a new approached to the entire banking system is needed!...

BobLawblaw

legendary

Activity: 1869

Merit: 5781

Neighborhood Shenanigans Dispenser

Quote from: Biodom on March 13, 2023, 12:13:08 PM

what this has to do with "crypto" in the first place?

Jeopardy: "A recent Silicon Valley-based bank that was a major player in providing fiat liquidity for the crypto exchanges"

AverageGlabella

legendary

Activity: 1232

Merit: 1080

How many more banks are going to get bailed out this year? I see that Bitcoin has been increasing ever since the Silicon Valley bank has been bailed out which might be people coming to Bitcoin because they have lost faith in the bank and could cause a bull run before the 2024 halving. It might be the perfect time for banks to fail because it will push more people to Bitcoin and then the halving being a good time to boost the price it might be a good year or 2 for Bitcoin because of the banks failing.

HI-TEC99

legendary

Activity: 2772

Merit: 2846

Quote from: Torque on March 12, 2023, 06:51:10 PM

Quote from: BobLawblaw on March 12, 2023, 06:41:43 PM

The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry. Those reforms combined with today's actions demonstrate our commitment to take the necessary steps to ensure that depositors' savings remain safe.

"aLL SaVIngS DepOSiTs ArE SaFU"

Only one way to find out: pull yer money out, folks.

cygan

legendary

Activity: 3304

Merit: 8633

icarus-cards.eu

ivomm

legendary

Activity: 1891

Merit: 3096

All good things to those who wait

JUST IN - IMF warned G-20 that widespread #Bitcoin and crypto use could cause banks to "lose deposits"

https://twitter.com/BitcoinMagazine/status/1635234428380381184?s=20

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

The thing when Sacks realizes that banks sucks, priceless almost like Bitcoin Cheesy

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: BobLawblaw on March 13, 2023, 12:03:18 PM

Quote from: Torque on March 13, 2023, 11:17:54 AM

Which means in a bank that doesn't have enough cash on hand to cover all depositors, they will have even less now.

I'm just trying to figure out how Charles Schwab, a historical investment savings and loan bank, got shut down trading today.

To the best of my fundamental understanding of Schwab, they are extremely crypto averse, and have questionable if any ties to the larger contagion.

Shit is super fucked up today.

what this has to do with "crypto" in the first place?...that s-t is completely unrelated and is primarily caused by the loan book losses due to the fast increases in interest rates.
As now become apparent, FED told people in Dec 2021 that they would raise 1% in 2022. Instead, they did 4% or more.
Accordingly, it becomes clearer why SVB bought MBSes yielding 1.5% in Dec 2021. Those are the securities they have 10% loss in, which gave them 2bil loss on a 20bil forced sell, which precipitated the whole shebang.

I noted the SChwab, though, but they are trading now off the lows, only 10% down.

El duderino_

legendary

Activity: 2716

Merit: 13505

BTC + Crossfit, living life.

HI-TEC99

legendary

Activity: 2772

Merit: 2846

Quote from: Biodom on March 13, 2023, 11:55:17 AM

...

Wowsie...really?

https://twitter.com/NorthmanTrader

predicts a short term run up like in 2008, post Bear, up to 14% in S&P, duration of about two mo.

BobLawblaw

legendary

Activity: 1869

Merit: 5781

Neighborhood Shenanigans Dispenser

Quote from: Torque on March 13, 2023, 11:17:54 AM

Which means in a bank that doesn't have enough cash on hand to cover all depositors, they will have even less now.

I'm just trying to figure out how Charles Schwab, a historical investment savings and loan bank, got shut down trading today.

To the best of my fundamental understanding of Schwab, they are extremely crypto averse, and have questionable if any ties to the larger contagion.

Shit is super fucked up today.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

Biodom

legendary

Activity: 3892

Merit: 4331

Bill Ackman calls to guarantee ALL deposits....temporarily.

https://twitter.com/BillAckman/

My comment: long bets are being placed.

https://twitter.com/RepThomasMassie

Wowsie...really?

https://twitter.com/NorthmanTrader

predicts a short term run up like in 2008, post Bear, up to 14% in S&P, duration of about two mo.

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

This recent market strength has been impressive. You can tell that people are now using crisis as opportunity to grab themselves more BTC on the cheap. This is a pretty good sign that Bitcoin is currently undervalued and is being scooped up by investors. I wouldn’t be surprised if this strength carries us to $30K. It seems obvious the bottom for this cycle is in and a multi year bull market has begun.

Torque

legendary

Activity: 3780

Merit: 5429

Man, soooo much social media effort being expended to bolster public trust and quell the public to NOT do a bank run.

But you know who is moving their money out of these smaller banks? The wealthy, that's who.

Which means in a bank that doesn't have enough cash on hand to cover all depositors, they will have even less now.

https://twitter.com/BillAckman/status/1635109889302315008

philipma1957

legendary

Activity: 4326

Merit: 8950

'The right to privacy matters'

Quote from: ChartBuddy on March 13, 2023, 11:01:18 AM

Explanation

Leaving buddy to do his own thing seems to have been simply brilliant on my part. (maybe just lazy)

24k

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 2228. (Read 26609810 times)