Quote from: pixie85 on March 23, 2020, 07:19:51 PM

Quote from: Wysi on March 09, 2020, 10:12:56 PM

After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.

Great idea, you made the right choice. Wink

You've converted independent money that nobody can take from you (Bitcoin) into worthless fake USDt that isn't even backed 1:1 by USD but is trying to make people think that it is. You have effectively changed digital gold to an IOU and on top of that you did it after a major dump orchestrated by Bitmex and some other leveraged trading exchanges.

One way or another, I believe that many users act in exactly the same way to minimize their losses and conduct an even more profitable transaction. I also often use stable coins, although in essence, as you said, they are not confirmed even by the dollar. But throughout the entire period of existence, USDT fluctuated in price by a maximum of 2 cents, and during the same period, Bitcoin fell and fell very actively and very much. As always, in any case, there is a huge risk for any cryptocurrency user, But if someone managed to sell Bitcoin before the next fall, then he has every chance to buy the same Bitcoin much cheaper and in larger quantities.