. @Bitfinexed lays out my hawala theory for a current Bitcoin exchange's operations ( https://twitter.com/patio11/status/910353790901026817 … ) and the liquidity risk consequences: https://medium.com/@bitfinexed/the-bitfinex-dilemma-blow-up-now-or-try-a-hail-mary-to-retain-in-business-10b9d989359f …
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Bank runs are primarily a consequence of maturity mismatching, which doesn't happen with a sound currency like Bitcoin.
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The type of bank run they should be most concerned about at the moment is on tethers, where they purport to have $X00 million of sequestered assets but only some unknown Y% are actually capable of being transferred out to depositors.
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that’s as clever as statement as it is incoherent.
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