Crypto 360°

Tuesday, 14 March 2023

"There is no end to our ability to do that"

submitted by /u/KAX1107
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Bitcoin is here, to replace fiat, enjoy the pump! (OC) critique welcomed

submitted by /u/IIamII
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Reminder: Moving your crypto off exchanges to a self-custody wallet is not a taxable event

Some people may think you might have to pay taxes when you move crypto off an exchange. You do not. You can move crypto off, back on again, or to multiple wallets you own. No taxes need to be considered.

It's a transfer, not a transaction.

https://gordonlawltd.com/crypto-tax-guide/

submitted by /u/eagle_eye_johnson
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source https://www.reddit.com/r/btc/comments/11qipfp/reminder_moving_your_crypto_off_exchanges_to_a/

Robert Kiyosaki urges buying Bitcoin as ‘more fake money to invade sick economy’

submitted by /u/BTCPriest
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This is why I am now all in on bitcoin.

Imagine starting a round of bank bail outs while inflation is still higher than the fed funds rate.

Over the next few months as contagion in the banking sector spreads and stocks start making new lows the fed will have no choice but to cut rates with inflation still well above the fed funds rate.

This is going to be an inflationary recession with banks going under left and right. You cant keep interest rates at zero for a decade then raise them at the fastest pace on record and expect nothing bad to happen. Rates were kept lower for longer than they were prior to the 2008 crisis and raised faster than they were in 2006/2007 meaning this is going to be a far bigger problem than 2008.

We are about to experience a chaotic financial crisis that grips the entire world before inflation can be contained, and the response of bail outs and QE will end up causing runaway inflation.

Bitcoin was invented for two reasons, to protect against inflation and to protect against a repeat of 2008, well now we have both simultaneously.

I am all in.

submitted by /u/slvbtc
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Monday, 13 March 2023

In the event of a widespread bank run and cash shortage, how do you think self-custodied peer-to-peer electronic cash can play a role?

submitted by /u/eagle_eye_johnson
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source https://www.reddit.com/r/btc/comments/11prkku/in_the_event_of_a_widespread_bank_run_and_cash/

Coffee this morning...

Equivalent of 19,000 sats for a nice brew this morning. England UK

submitted by /u/marshyr3d1and
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Silicon Valley Bank Defaults, $42 Billion Withdrawn in 24h

https://www.bloomberg.com/news/articles/2023-03-10/why-svb-was-hit-by-a-bank-run-and-where-it-could-lead-quicktake

First Silvergate, now SVB. They were invested in Mortgage Backed Securities. Who's next? And what is the impact on crypto?

My advice is to DIVERSIFY🔥

submitted by /u/wtfCraigwtf
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source https://www.reddit.com/r/btc/comments/11ppdei/silicon_valley_bank_defaults_42_billion_withdrawn/

21 million club

submitted by /u/WhaleStreetwatching
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Chancellor on brink of second bailout for banks

The problem with the Silicon Valley Bank is that people need it to process payments. A lot of firms, big and small, are in a pickle because of its collapse.

For example Etsy, not exactly a small enterprise, is finding itself unable to pay it's creators for things people have already paid for, and maybe even received. They had (at least part of) their accounts at SVB.

SVB failed because of their greed. They made bets on leverage, and they lost. Now their clients are fucked because of their greed.

Bitcoin lets people buy/sell things without intermediaries. Peer to peer electronic cash. We still have a ways to go, but the advantages are evident.

submitted by /u/mtrycz
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source https://www.reddit.com/r/btc/comments/11pnu07/chancellor_on_brink_of_second_bailout_for_banks/

When the economy goes down why doesn't bitcoin go up?

Bitcoin is a deflationary asset and a great store of value. So why doesn't bitcoin go up when the economy and the stock exchange goes down? Why does it instead tend to mirror the economy/stocks?

submitted by /u/tompadget69
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