I asked this as a reply, but figured I’d ask everyone out there too.
So, as I expect we’ll see many banks fold up, where should I keep a chunk of fiat for the next 2-12 months?
Is there a way to tell if a bank is more solvent than another?
I’m about to sell a house I flipped so getting a chunk of US Space credits >$250k. This will be used as operating capital for my business and then to purchase some new remodel project when I come across one. Even if the government covers all depositors (or I split between banks to stay within FDIC limits) if I’m in a bank when it goes, I fear there will be a period my funds are inaccessible as it gets bailed out. Because my time preference on this is measured in months but I’m not sure how many months, I’m concerned about the volatility of BTC to keep if all there (not to mention, I’m not even sure where to do a transfer that large in and out of BTC).
#grownostr #bankdeath
BlackSheepRehab / Black Sheep Rehab
npub1rc…ymawc
2023-04-26 13:07:49
Author Public Key
npub1rccegnzfltylh998jsj48z0j43pu5uqq9st6j3h3j4jz5ehy7nxs9ymawcPublished at
2023-04-26 13:07:49Event JSON
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"content": "I asked this as a reply, but figured I’d ask everyone out there too.\n\nSo, as I expect we’ll see many banks fold up, where should I keep a chunk of fiat for the next 2-12 months?\n\nIs there a way to tell if a bank is more solvent than another?\n\nI’m about to sell a house I flipped so getting a chunk of US Space credits \u003e$250k. This will be used as operating capital for my business and then to purchase some new remodel project when I come across one. Even if the government covers all depositors (or I split between banks to stay within FDIC limits) if I’m in a bank when it goes, I fear there will be a period my funds are inaccessible as it gets bailed out. Because my time preference on this is measured in months but I’m not sure how many months, I’m concerned about the volatility of BTC to keep if all there (not to mention, I’m not even sure where to do a transfer that large in and out of BTC).\n\n#grownostr #bankdeath",
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}