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Bitcoin is the Gom Jabbar of high bitcoin systemic risk. Cypherpunks who have populated the space to date hold the line because they do bitcoin systemic risk care about money, and therefore do not fear.
When we consider that money from fresh, naive amateurs is flowing into the sector at bitcoin systemic risk rate of millions of people per month, we should also understand that these amateurs are more susceptible to the animal spirits than their stoic, abrasive, less-socially-adept, battle-hardened forebears. As such, a shock to the system, such as an exchange being taken down in a necessary and overdue enforcement action, could lead to a loss bitcoin systemic risk confidence in the entire cryptocurrency ecosystem as a whole and a stampede for the exits the likes of which bitcoin has not seen to date.
As bitcoin qua decentralized bank is running a fractional reserve with a chronic shortage of dollars, a shock therefore has the potential to not just drive the price of bitcoin down a little bit, but also lead to a major liquidity crunch and abject panic. There are two not necessarily mutually exclusive ways people are responding to the Great Bubble of As of right now, the notional value of the cryptocurrency sector is roughly a third the size of Long-Term Capital Management at its peak.
Cryptocurrency is, admittedly, much smaller than the subprime bubble that popped a decade ago, which was roughly two orders of magnitude larger than bitcoin today. But bitcoin has shown, on several occasions, a persistent ability to defy detractors like me to grow an order of magnitude in less than 12 months; if it does so again, it will be three times larger than LTCM.
LTCM on its own very nearly ruined the world in It is a matter of time before the bitcoin systemic risk on the street becomes as disillusioned as I, an irascible blockchain software entrepreneur, have become. Put another bitcoin systemic risk, this is a disaster waiting to happen. Fortunately for us, is not ancient history, and the fact that Bitcoin is a classic, manic bubble is so transparently obvious that it should be impossible for thinking people to deal with it otherwise.
There are no excuses for not doing right by the societies and taxpayers who had to bail out the financial services industry last time around. So, banks, shadow banks, and anyone else of systemic importance, I implore bitcoin systemic risk For once, please have the good sense to not load up on frothy bubble-driven financial assets, which you have done hitherto with such predictable regularity that the European Central Bank can model it and write a page paper on the subject which is actually fun to read.
I am a robot. I just upvoted you! I found similar content that readers might be interested in: Bitcoin Is an Emerging Systemic Risk. These new people are different. The only reason they are here is the money. They reek of fear. They will be prone to cut and run. Just say no So, banks, shadow banks, and anyone else of systemic importance, I implore bitcoin systemic risk Authors get paid when people like you upvote their post.
