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Topic: In the event of an emergency - page 2. (Read 1499 times)

sr. member
Activity: 280
Merit: 250
January 11, 2015, 04:14:10 PM
#3
I'm 100% in US dollars at the moment. I'll get back in once the price is right.

Like I said - I have 50% of my crypto wealth in BTC. I have skin in the game.

So you have 100% USD, 50% BTC, and 0% credibility Roll Eyes

And why would exchanges shut down if the price collapses anyway? They're collecting fees no matter what...

I change in and out of BTC/USD like the British weather.

If you must know, at the moment, I'm 75% XRP, 25% USD and 0% BTC.

If you have something constructive to say on the thread I started; please do. Otherwise, stop trolling the thread.
legendary
Activity: 1946
Merit: 1035
January 11, 2015, 04:07:48 PM
#2
I'm 100% in US dollars at the moment. I'll get back in once the price is right.

Like I said - I have 50% of my crypto wealth in BTC. I have skin in the game.

So you have 100% USD, 50% BTC, and 0% credibility Roll Eyes

And why would exchanges shut down if the price collapses anyway? They're collecting fees no matter what...
sr. member
Activity: 280
Merit: 250
January 11, 2015, 03:52:54 PM
#1
***I am not saying the market will collapse. I am asking what your strategy is in the event of a panic.

Say the market collapsed (below $10), what would happen to the exchanges?

I guess trading would be "suspended" to allow the insiders to get out first and it would be very hard to convert the last remaining value of your BTC before hitting $10 and below.

How could I get back to fiat in a panic situation? I guess nobody on localbitcoins.com would be buying?
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