Oddbean new post about login | logout Bank stocks are getting crushed right now with Bank of America leading the way down. https://m.primal.net/HOlX.png Bitcoin is up 102.60% while Bank of America is down 25.14% YTD. 2023 may go down as the year of the decoupling. https://m.primal.net/HOlY.png We may come to find that the market prefers a peer-to-peer distributed monetary system with a hard capped supply and no counterparty risk to a completely centralized monetary system in which banks have zero reserve requirements and are sitting on worthless government debt.
Structural change in progress.
Decentralized Banks are winning
If you stare long enough into the shitcoin, the shitcoin will stare back at you. Even if your particular shitcoin is widely accepted, like the USD. nostr:nevent1qqs2ek3u5eal83jvv8wrutr27tdh3xe9rqkqrsrmq5mjfmmxv589yuqpypmhxue69uhkummnw3ezuetfde6kuer6wasku7nfvuh8xurpvdjj7q3qguh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0qxpqqqqqqzrn2tgr
That's all I need to know, to continue the path I'm on. nostr:nevent1qqs2ek3u5eal83jvv8wrutr27tdh3xe9rqkqrsrmq5mjfmmxv589yuqpr3mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmqzyprj73q098hejm5j5xrt35eqluvqep2eqwyzukw4phsm302kdycpuqcyqqqqqqg8djrae
Stay humble. Bitcoin is still down 50% from its ATH.
nominal balances will forever be guaranteed. i don’t think the public is worried about banks balance sheets
