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A comment on Bitcoin’s reliance on stablecoins harks back to the Wild West of finance. Parent comment

Re:Bitcoin’s reliance on stablecoins harks back to the Wild ... by schemescape on Friday June 04, 2021 @09:41PM (#27401154)
It doesn't make sense to compare risk-free FDIC-insured deposits to stablecoins at BlockFi.

Full disclosure: I did not find BlockFi's brief descriptions of their risk management strategies to be comforting.

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Re:Bitcoin’s reliance on stablecoins harks back to the Wild ... by menzoic on Saturday June 05, 2021 @12:45AM (#27402274)
What didn't you like about the risk management strategies?
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Re:Bitcoin’s reliance on stablecoins harks back to the Wild ... by tonfa on Saturday June 05, 2021 @06:55AM (#27403898)
It's all highly leveraged on all sides, margin calls will amplify things if things start crashing (which will then risk not covering the initial investment, trigger a run, and amplify further).
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Re:Bitcoin’s reliance on stablecoins harks back to the Wild ... by schemescape on Saturday June 05, 2021 @11:20AM (#27405775)
I probably should have left that part out of my original comment, since it was just my personal opinion and not relevant to the point I was making (risk-free rate vs. non-risk-free rate).
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