Vaultoro would be perfect for me - if there was any liquidity there. Localbitcoins is not an option since I'm talking about more than 1 BTC, and getting the cash back into BTC wouldn't be easy (in my current country).
Maybe when 'Options' are popular it can be used as insurance with a potential benefit, but we're not there yet and I think these corrections will be a part of life for the foreseeable future, and our best tea leaf readings (figuratively speaking) will determine our actions.
Topic: What is a good flight to safety? - page 2. (Read 607 times)
One option you could try is moving into gold. There are several companies that accept Bitcoin as payment for gold, including JM Bullion for example.
Back & forth conversion of Bitcoin to Gold and Gold to Bitcoin is a problem. I was thinking of something like Tether, but it doesn't appear to have much traction
I agree. You'd have to be pretty careful with Tether considering that you have to trust the actions of the Tether company. It goes against BTC's trustless ethos (as does fiat, but this is two levels of it).One option you could try is moving into gold. There are several companies that accept Bitcoin as payment for gold, including JM Bullion for example.
You could also try to convert to fiat anonymously by using a peer-to-peer exchange like LocalBitcoins, but of course this would be risky. If you chose to do this, you could try choosing the Cash in Person payment option and opt for people who don't ask for ID.
Bitcoin is sometimes touted as a flight to safety, but what I'm interested to learn is, if you feel the BTC market is due for a correction, what would your choice be for shelter from the storm, that allowed you to quickly get back in the market when you feel the bottom is in?
In the country I stay in they put severe capital controls on limiting the amount of money that can exit the system (conveniently they have no restriction on how much you can bring in).
I was thinking of something like Tether, but it doesn't appear to have much traction, and the hardware wallets that I have (Trezor and a couple of Ledgers) don't support it so far as I know.
So if you have more coins than you are comfortable parking on an exchange (essentially, any amount above zero for me), and you wanted to go to something with low volatility for a few days/weeks/months, what would be your choice?
In the country I stay in they put severe capital controls on limiting the amount of money that can exit the system (conveniently they have no restriction on how much you can bring in).
I was thinking of something like Tether, but it doesn't appear to have much traction, and the hardware wallets that I have (Trezor and a couple of Ledgers) don't support it so far as I know.
So if you have more coins than you are comfortable parking on an exchange (essentially, any amount above zero for me), and you wanted to go to something with low volatility for a few days/weeks/months, what would be your choice?
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