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Comment by calgarymicro | Hacker News Reader

Boggles the mind that people are actually taking people like Nic Carter and Barney Frank at face value (that latter one is particularly egregious considering he's literally a former director of the bank) when they say that the FDIC seized a bank with $110 billion in holdings solely to target $4 billion in crypto. Believe it or not, the Fed doesn't care enough about crypto to start a regional banking crisis and blow up hundreds of billions of dollars.

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It was shut down by New York, not the FDIC.

Even better; New York State absolutely has no reason to set off a regional banking crisis and shut down a bank with $110 billion in deposits over $4 billion in crypto.

The dinosaurs at the FED feel just the same as all those on this site that blather on bitterly about crypto waiting for it die. I can’t wait to read the salty howling at end of the year when crypto is at an all time high.

You’re correct that this community will be salty as bitcoin reaches value milestones such as $100,000/coin. And it’s easy to fall into the trap of laughing at their misery. But it would be much much more enjoyable for me to see bitcoin “click” for them.

It takes the effort of thinking deeply about what money is, where it came from, how it’s used geo-politically, how it’s used against populations, etc. it’s a lot of effort, honestly.

But let’s not cheer on bitcoin’s USD value. The real victory is when it’s detached and we stop comparing bitcoin to garbage fiat.

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