Yeah. And then look at something like Wall Street institutions (let alone central banks) and the volume they are looking at.
We are dealing with $100 billion.
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Yeah. And then look at something like Wall Street institutions (let alone central banks) and the volume they are looking at.
We are dealing with $100 billion.
Yeah, impossible. If you buy 100b of BTC next week - you will moon the price 2x at least.
Yeah. I dont think people the depth and liquidity requirements of the trad fin world. Hell repo is $4.5T-$5T DAILY. That is more than 4x the total market cap of crypto. So to think the USD or any of this is going away soon is inane.
I don't think anyone wants to have all fiat go down unless you want the whole world to get drowned in chaos.
At the currency, yes that is true. With the USD, to me, it isnt even a currency anymore. It is a unit of account. That is how big it is.
Yes, 99% of it's exactly that and that is a good thing. Imagine moving Trillions of cash or gold balances around?! Get wracked... no way.
Funny when people talk about bank runs, it is like they are in Its a wonderful life in the 1930s. What do you mean cash backing the deposits? The deposits were done using cash. Do people think cos are putting up cash to pay the salaries?
Of course not. There was no cash backing the deposits to begin with. That is why settlement is so important and the monetary system is the focus, not money. That is secondary and changes over time.
It's laughable, like in a mafia movie. Massive Cash in sports bags or wheelbarrows. That's the stuff that drove 90s Gangster movies, but not a modern global economy.
If I'd be a furniture producer in Indonesia and some company from Norway would like to buy a container of my chairs - I'd want to get USD in my bank account. Pay the ship in USD, pay the customs in USD, pay my suppliers in USD, and convert my gains into the local currency. It's a no-brainer.
And I would not want any cash involved in that process at all.