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Something I wonder is... With $1.3 trillion assets under management, is it safe to say that Crédit Suisse's situation has nothing to do with Bitcoin? I'm aski
by TacticalCoder 4y ago
Something I wonder is... With $1.3 trillion assets under management, is it safe to say that Crédit Suisse's situation has nothing to do with Bitcoin?
I'm asking because about 15 years after the last big financial crisis, one of the systemic bank risking default and potentially in need of a bail out reminds me of a headline from 2008:
"(The Times 03/Jan/2009) Chancellor on brink of second bailout for banks"
- once_inc 4y agoIt isn't. Bitcoin isn't nearly big enough to cause systemic problems of banks, especially since most banks either don't have legal access to it, or because they don't see it as a valuable investment. Please note that while Bitcoin is mostly built to counter central banking, it also heavily encroaches on the traditional yield generating business that banks serve to the people: storing wealth. With bitcoin, (excepting mining fees) you don't have to pay for storage or services. You don't run a counterparty risk, and you can keep a moderate level of privacy.