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Again: being widespread is not the same as being a systemic risk. That just means it's a casino everyone wastes money in. Who is defaulting on critically import
by SilasX 5y ago
Again: being widespread is not the same as being a systemic risk. That just means it's a casino everyone wastes money in. Who is defaulting on critically important obligations because of a crypto crash? What creditworthy business isn't getting a loan to cover cash flows for the quarter because BTC fell to 10k?
- deleted 5y ago[deleted]
- mlac 5y agoIf it gets bad enough, it will increase the number of consumers who are defaulting on credit cards, mortgages, auto loans, and student loans.
- vietthan 5y agolikely not, the dotcom bubble was a big deal but it wasn't catastrophic like 2008 was and that's because of the greater coupling with financial institutions.
- mlac 5y agoLook at the percentage of retail investors in the dotcom bubble. It’s much easier to make very stupid plays with money today than it was then, and a lot of “average” people are going to get burned.