What if you sell quickly to "save some of the value" but then it comes back to where it was, and then goes higher?
This is the perpertual dilema of the forex trader.
Topic: Concerned about Bitcoin death trusts. Anyone want to address this? - page 2. (Read 2792 times)
September 19, 2012, 11:31:17 PM
September 19, 2012, 11:28:28 PM
I love Bitcoin. I've been evangelizing it to just about everyone I meet and I've got a substantial amount of my personal money invested in the currency. I've put my money where my mouth is. But, lately, I've been seeing some talk about using Bitcoin as a way to pass on wealth to heirs and that has me a bit concerned.
On the surface, using Bitcoin as a wealth protection and inheritance method sounds pretty amazing. But what about Bitcoin's long term viability? Granted, I truly believe the currency is going to survive the zombie apocalypse but what if it doesn't? What if I'm laying on my death bed and Bitcoin starts to crash hard? If I am lucid and physically capable, I could sell quickly to save some of the value, but what if I'm not? It just seems like an pretty scary way for long term wealth protection.
Can anyone address my fears? I'm sure they're completely illogical but I'm not totally sure why. I know that fiat can (and probably will) crash long before Bitcoin but I still feel 'safer' (somewhat, not much) in passing it along in inheritance.
Anyone?
On the surface, using Bitcoin as a wealth protection and inheritance method sounds pretty amazing. But what about Bitcoin's long term viability? Granted, I truly believe the currency is going to survive the zombie apocalypse but what if it doesn't? What if I'm laying on my death bed and Bitcoin starts to crash hard? If I am lucid and physically capable, I could sell quickly to save some of the value, but what if I'm not? It just seems like an pretty scary way for long term wealth protection.
Can anyone address my fears? I'm sure they're completely illogical but I'm not totally sure why. I know that fiat can (and probably will) crash long before Bitcoin but I still feel 'safer' (somewhat, not much) in passing it along in inheritance.
Anyone?
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