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RE: How to profit in a drop in price without a crystal ball: Bitcoin Pulls back to 56k

in #bitcoin3 years ago

If you have all of your worth in Bitcoin at the momemnt and you don't mind risking some of your money by leaving it on an exchange, you could buy a leveraged amount of bitcoin. There are options like Bitcoin3x, where if the price of bitcoin goes up 10% this asset goes up by 30%. For myself, I hate leaving my money on an exchange. It's like bank but without the insurance of a bank, and accounts with all the risks of bailins and hacks. Amoung these risks is that you might not be able to access because your 2fa tokens break (or something breaks on their side) at the same time or the kaptcha server is not available, and so you cannot prove you're human and you cannot get in.

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For myself, I hate leaving my money on an exchange.

not your keys, not your coins.

Not your cash. Not your fiat.

I like now Jim Rickards says it.

You don't have $$$ in the bank, you have a bank statement.

The bank has $$$.

You have to ask the bank for permission to get those $$$.

You don't have $$$ in stocks and bonds, you have a brokerage statement.

The broker has stocks and bonds.

You have to ask the brokerage for permission to get those stocks and bonds converted to $$$.

And when everyone calls and wants their $$$ at the same time, what do you think those institutions are going to do?

And how much do you think those stocks and bonds are going to be worth when everyone wants $$$ at the same time?