Sirwin
Sirwin
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After Silvergate, what now?


Silvergate fell. We all feel the sourness on our tongues because the history of 2008 repeats, but now it aims for the crypto branch, not the legacy finance.

But is it bad?

Not necessarily, what must be said is that the ongoing fusion of the legacy banking system and cryptocurrencies weren't good for none. Cryptocurrencies stand for things that oppose most of the targets of banks, their fusion was an experiment that did not go well.

The crypto community was already divided because of the ongoing fusion, but now the anti-bank group seems to be winning.

Fusion is not good. One needs to die for another to thrive.

The banking system is not supposed to be a tool for crypto to gather more users. That's my opinion. If accommodated legacy system users come and start using foundations of innovative finance it will not evolve, at least now. In order for cryptocurrencies to grow, new people are needed, not the ones with built requirements, but the ones with dreams and objectives they want to accomplish.

No need to cry, there is another day.

Bitcoin will fail some days, all cryptocurrencies will be in terms of their price. But the stubbornness of bitcoin in holding its 20.000$ price is a sign that cryptocurrencies are strong as ever before, cumulative 1 trillion dollar market cap seems to be adequate pricing for this market, and it only aims to grow. More and more people use cryptocurrencies every day, and crypto communities are more vocal every day as well. Our beliefs seem to hit more people and make them think about what they want, what they need, and what they got used to. 

The process is slow but steady

What we do not need is a rush. To make things right,  it is needed to take time. If things are supposed to work well, everything needs to be thought through. The slow death of insincere parts of this change is optimistic for overall success, and only further proves the consistency of the work we all put into this process.

What I think

Organisms consist of organs, and sick organs die when given enough time, we can consider Silvergate as such an organ, the same goes for FTX and many others. There are many similarities between a living organism and a financial organism, both want to survive at any cost. If we want our financial organism to live a healthy, long life, we need to get rid of sick organs, and it's only a natural process.

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None of the information in this article should be considered financial advice, it's my analysis and facts I wanted to share with this wonderful community.

 

If you enjoyed my post and you want to support me you can do it here:

Reflinks for some passive income:

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Addresses:

0x4B5692110fF9Ba770b9EC5CEBA20849cF97496EA - Binance Smart Chain and Ethereum

addr1qxsktm5j0yusx00gg9735lrn7ada94n63dvy9g76nn5phms68c08evhlqngru7785nlh6qc20ll700v4pqtqktet3wkqwy07f5 - Cardano

TJevzMtsW7dwNM8amm9JE4fM4digjaegHy - Tron

1ApF4AYaQQthAQ4qMJftx3A3WaY4MfBVML - Bitcoin and Bitcoin Cash

 

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CrSanity
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I'm a crypto investor, enthusiast and a beginning writer for Publish0x.


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