Byzantine on Nostr: what @girevik is saying is that no amount of buying can create a global fiat run ...
what @girevik is saying is that no amount of buying can create a global fiat run but if everyone customer at "Alice bank" buys bitcoin using an exchange that banks with "Bob bank" then "Alice bank" can definitely have a run and "bob bank" will be left standing.
same amount of fiat in the system just all at a new bank
"Alice bank" collapses and "Bob Bank" is bigger
today "Bob Bank" is JPMorgan and will be the last bank standing and will soon be called JPMorgan-Fed bank
For every Bitcoin buyer, there is a Bitcoin seller. No amount of fiat actually leaves the banking system and buying BTC is not a bank run.
Published at
2023-03-20 11:08:36Event JSON
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"content": "what @girevik is saying is that no amount of buying can create a global fiat run but if everyone customer at \"Alice bank\" buys bitcoin using an exchange that banks with \"Bob bank\" then \"Alice bank\" can definitely have a run and \"bob bank\" will be left standing.\n\nsame amount of fiat in the system just all at a new bank\n\n\"Alice bank\" collapses and \"Bob Bank\" is bigger\n\ntoday \"Bob Bank\" is JPMorgan and will be the last bank standing and will soon be called JPMorgan-Fed bank\n\n\n#[0]",
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