[lowkey]

To nitpick, Bitcoin doesn’t currently have a fixed supply. It has a supply cap that takes effect sometime in 2140. Bitcoin currently inflates by 6.25 BTC every ~10 minutes.

For the record, I agree that early Bitcoiners took an incredible risk on a highly volatile asset and they should be rewarded for such.

As I see it, this latest banking crisis is showing the world that there is more than one type of risk. Bitcoin has market risk but not counter-party risk.

As for bank deposits, while they have minimal market risk, they have significant counter-party risk.

The world is waking up to the fact that bank deposits are an unsecured loan to a risky counter-party that uses those deposits for highly leveraged speculative bets.

[csomar]

The big revelation is that deposits in a bank have two risks actually: A counter-party risk as you mentioned, but also a market risk. Inflation was/is in the double digit across the Euro and US economies. And that's for the government (CPI) numbers.

People never considered these risks before. A bank is a bank is a bank. And in the developed world, inflation is low. Now you have a situation where both narratives are being challenged. The system is under lots of strain.

[HashBasher]

Agreed, self-custodied bitcoin is the best way to mitigate third party risk. If some of these start-ups held a small amount of their reserves in bitcoin, they would not have had to panic to make payroll.

[fellellor]

Haven’t they already been rewarded for it? The magic Internet money is worth more than 20k USD, whereas it started out at 0.

[HashBasher]

They have and they deserve it. As bitcoin continues it's journey higher, all bitcoiners will be well rewarded (new or old).

[shjake]

Is there though? I mean now all deposits seem to be covered 100% with no limit. That makes the less risky than they were 2 weeks ago, doesn’t it?