There’s Nothing to Do Except Gamble

Re:There’s Nothing to Do Except Gamble by onlyrealcuzzo on Thursday April 15, 2021 @02:05PM (#26824058)

What will happen is 2% of the world's "wealth" would disappear - which would almost certainly spill over causing a much larger decline.

From 2007 to 2008, for example, global wealth declined about ~10% [1].

There's not much room left for central banks before we officially enter banana town. If cyrpto implodes, it could easily be worse than the financial crisis - which means, regulators have an interest in it NOT imploding.

[1] https://www.credit-suisse.com/about-us/en/reports-research/g...

[ Parent | on HN ]

Re:There’s Nothing to Do Except Gamble by pbourke on Thursday April 15, 2021 @04:13PM (#26825562)

In no way, shape or form would a crypto implosion be anywhere near the financial crisis in impact. It’s just not systemically important. It’s essentially “phantom wealth” not underpinned by any economic reality - even more unglued from reality than esoteric derivatives.

[ Parent | on HN ]