lucky you it's only hypothetical... it would make you a fool putting all your liquid funds into an asset with volatility that high in short periods
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drama on crypto market, all coins down :(
- Thread starter Houdini
- Start date
yes, but you all say put it in BTC and this would be an example where it would have been a bad move. You put up unlimited scenarios where one could have put all his money into BTC because he knew he didn't need it right now. Then next day some urgent happens and you need your money.
you may have misread the message - there should a natural structure of your holdings reflecting their volatility, liquidity, durability and other properties as well as your personal situation - it's good to have some cash, some balance in your bank account, maybe some balance in your savings account, some credit line perhaps, some USD depending on where you live and then assets with high probability of staying untouched for 3-4 years and more and that's the domain where BTC is the ultimate winner
The same goes to property market, private equity, VC etc - you will not be able to quickly pull your money out without taking a significant haircut.
Every asset class has different volatility, liquidity and risk. Calculate your short and medium term need before moving capital.
You are happy to have fiat in the bank… submit a withdrawal order… and for the next 3-5 years you keep paying legal fees trying to unfreeze your money that some monkey decided you are not allowed to use
there are many options and there are more coming as it looks like.
from the top of my head id say aave, nexo and sygnum. one is defi, one crypto venture and one is a crypto niche bank.
or you buy the bitcoin etf with your broker/bank and get a loan based on that (if your bank/broker will allow). Sometimes you can borrow cheap fiats like euro or yen, but I would not borrow chf for example.
I have a prio banking where i can get cash on my deposited assets fairly easily (and put a btc etf in it as well as other stocks), but will get a margin call eventually, so you gotta need to be careful.
This is a very smart strategy also right now while the BTC is low and if you can get a loan against your BTC holdings chances are good that you need to pay less to pay off the loan.
Can you say when this stupid crypto goes up again. It is down to hell, I need some cryptos to fiat but not at this rate
Crypto is not stupid, people who don't know what they are doing when investing their money are stupid.
I will give you a tip, don't invest money that you will need in Shitcoins, instead buy BTC and Stablecoins - that way you will always have a part of your money in stablecoins/USDT 1-1 to USD and the rest invested in the most valuable asset that you can afford to own nowadays - BTC.
You say it can't happen with Bitcoins ?You are happy to have fiat in the bank… submit a withdrawal order… and for the next 3-5 years you keep paying legal fees trying to unfreeze your money that some monkey decided you are not allowed to use
Btw the marked is rising marked right now right?
Nobody can freeze your btc, if in cold storage.
I can only see a perennial decline of the value of any fiat currency against anything else. I don’t follow horoscopes, even those disguised under the shape of sophisticated charts.
but they can mark them toxic or whatever it is that prevent you from using them anywhere later on?
Eventually all btc will become “flagged”, so flagging will become irrelevant.
Anyway, if you follow proper procedures that’s unlikely to happen, and even if it does you can easily fix the problem.
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