There isn't much market activity this weekend, so here's a joke for everyone. Is it applicable to the crypto world?
Let's encourage each other!
This is called a hard landing:
You borrowed 10 million from the bank to buy a house, and then the house price plummeted like a free fall ride, crashing down to 1 million. Just at that moment, your company laid off employees, and you lost your job. With no way out, you climbed to the rooftop and thought to yourself—'bang!' The next day's news headline read: 'Mortgage crushes life.' On the bank account, there quietly appeared a bad debt of 10 million.
This is called a soft landing:
You borrowed 10 million to buy a house, and the house price slowly declined to 9 million. You stomped your foot, sold the house for 9 million, and still owed the bank 1 million. From then on, you lived frugally, working to pay off the debt.
At this point, Buyer B took out a loan of 9 million to take over, and not long after, the house price slipped to 8 million. B had to sell the house as well, taking on 1 million in debt, and continued to work hard to repay.
And so, one round after another, from A to Z, each person taking over bore a small part of the decline. What about the banks? Bad debts? They don’t exist. They just gained a whole alphabet of 'long-term fighters', each carrying a brick, walking slowly, repaying gradually.
Housing prices decrease little by little, but the burden is carried by individuals. In the end, no one fell hard, but everyone is bent over, embarking on the long road of debt repayment.
