Where would you park your crypto in case of a goxxening of Bitfinex?

wuclx

full member

Activity: 447

Merit: 153

Quote from: Saifher on November 21, 2017, 04:50:28 PM

Buy a hardware wallet man. It's the best investment you can make if you have a decent size of your portfolio in cryptocurrencies, hands down the safest option you'll ever find. Get a Ledger Nano S and just relax while everyone panic sells and loses their funds

I was assuming a scenario which permits trading and withdrawing before the shit really hits the fan.
The hardware wallet won't save you from the economic implications, in fact your reaction time is slower in case you want to switch gears.

overlooker

jr. member

Activity: 58

Merit: 10

i agree, if my only alternatives are other coins, i would stick to BTC. Lot more likely to survive a 90 percent dip than any other crypto

BitcoinBallerina

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Presale is live!

I would part my crypto all in BTC man. Why would you park it in any other one if the network is less secure than BTC's? Ethereum can get hacked, Tether can get hacked, and more will come because they are centralized systems. In the end all of these eventually fail and so there is no point storing your crypto in anything else but bTC right now and in the future.

Saifher

full member

Activity: 126

Merit: 100

Buy a hardware wallet man. It's the best investment you can make if you have a decent size of your portfolio in cryptocurrencies, hands down the safest option you'll ever find. Get a Ledger Nano S and just relax while everyone panic sells and loses their funds

suncokreten

full member

Activity: 126

Merit: 100

If BTC was to go down 90%, there would be not much point to go back to fiat at those prices.

My safe base would be ETH, because it's technology is awesome, has a real life use and it is one of the rare tokens that might survive every possible catastrophe in crypto world.

In addition to that, even at these hard fork times it stood its ground and was pretty much fixed at $300.

sylance

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To be honest, if BTC lost 90% of its value then nothing in crypto would be safe. You've essentially asked what to do if the entire crypto space blew up.

wuclx

full member

Activity: 447

Merit: 153

Let's assume signs are clear that a severe crypto crisis is at the doorsteps.
Some people already see it coming.

Also assume for various reasons you aren't able to convert to fiat.
Which cryptocurrency would be the most stable in case of such a severe BTC crash (say 90-95% price drop) and Tether wipeout?

ETH? XRP? BCH? What do you think?

Topic: Where would you park your crypto in case of a goxxening of Bitfinex? (Read 235 times)