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Whenever people lose of money, that money has to be paid back to wherever they borrowed it from. Expect to see some more bank bailouts down the line to cover t
by kayamon 4y ago
Whenever people lose of money, that money has to be paid back to wherever they borrowed it from.
Expect to see some more bank bailouts down the line to cover the cost of all this.
- baersandbowlszs 4y agoThis isn't a matter of debt though, is it? The absolute worst case for a retail crypto investor is that they lose all of the money they put in. I can't imagine a bank signing off on a big loan to buy speculative assets. So the money is already "paid back". Right?
- gerikson 4y agoThere are very few banks lending money to crypto speculators. People may have mortgaged their houses etc., but in those cases the bank gets the house.
- rglullis 4y agoThe thing is that this "money" never existed in the first place. It was created out of thin air, and it vanished just the same.
- kayamon 4y agoIt'd be nice if there were a form of money that were created with a locked inflation rate, distributed at random, fair to all, voted upon by its users, backed by a real-world asset, and freely tradable online. Oh well.