I think stuff like this still happens in the traditional system. You just see people get held accountable for it. Maybe not to this level. The problem isn't crypto, it's bad actors. People won't see it that way... I think this is going to be good overall. People need to stop looking at crypto as a get rich quick thing and realize the utility of it all. This might bring that about sooner.
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That's a good point. Banks are not bad things, it's the people running them. I remember in 2007 seeing 120% mortgages, complete fooking madness.
I also think this will be a good long time as well, seems to have really annoyed a lot of people. The days of easy money could be numbered and instead of easily earning 20% on crypto, we might have to get used to 5-10% per year the same as the stock market are precious metals but it will be a safer space for sure.
I hope we have a couple more bull runs before it settles into that type of market. :) I'd like to position myself a little better for those kinds of rates. Yeah, those balloon mortgages were nuts.