Talked to a client banker earlier about the global financial system.
He categorically dismisses the idea that bitcoin can act as a global reserve asset, and says that in the event of a financial crisis, someone will have to bail out the system. This is where central banks come into play for him. "Bitcoin does not have a central bank".
Dude, we wouldnt have a systemic crisis resulting from cheap credit, excessive leverage and moral hazard on a bitcoin reserve asset standard.
As a financial market participant, you will be forced to act honestly, otherwise you will quickly find out that fiat games don't work on bitcoin.
Philipp
npub1ax…lchrm
2025-04-03 09:44:10
Author Public Key
npub1axqk6fjal6knj324ra3vxq3jf74h0y4v64nt8jvsnldc8p5emnxsplchrmSeen on
wss://relay.primal.netPublished at
2025-04-03 09:44:10Event JSON
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"content": "Talked to a client banker earlier about the global financial system.\n\nHe categorically dismisses the idea that bitcoin can act as a global reserve asset, and says that in the event of a financial crisis, someone will have to bail out the system. This is where central banks come into play for him. \"Bitcoin does not have a central bank\".\n\nDude, we wouldnt have a systemic crisis resulting from cheap credit, excessive leverage and moral hazard on a bitcoin reserve asset standard. \n\nAs a financial market participant, you will be forced to act honestly, otherwise you will quickly find out that fiat games don't work on bitcoin.",
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