Having all the eggs in one basket is risky and needs to be spread to avoid losing all if it crashes. I appreciate your thoughts on this and thanks for sharing.
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Having all the eggs in one basket is risky and needs to be spread to avoid losing all if it crashes. I appreciate your thoughts on this and thanks for sharing.
It is a common misconception that something can crash and lose all your money. If you have all your money on an exchange that has no-opt-out for margin trading like PrimeXBT - you are 100% correct. Otherwise, coins rarely go to absolute zero. The news media has repeatedly reported that bitcoin has gone to zero (hoping that it would) but they are trying to cause that rather than reporting reality.
Bitcoin never went below $40 when MtGox went under. The price of imaginary bitcoins on MtGox went down near zero but in reality, Gox only contained no bitcoin in its cold or hot wallets at that moment.
Other coins might be considered dead but I held mine and my private keys for those wallets, then watched them spring back to life and make profits unimaginable.
Some coins I owned, and by "owned" I mean $200 or less, like DRK, XRP, FTC, Doge, etc. were considered dead by me yet I held the keys and did not sell low. The came back to life and I saw 1.3m, 67k, 40k and 4m in returns respectively. There are others but these are the ones that come to mind.