When you suggest taking all coins off the exchange, does this mean USDT also? I have had this hunch for some time and have traded out of most all my BTC to BCC and into USDT. Today though, I might just take more profits from BCC and remain in cash, at least until the holiday is fully digested (pun intended). I just don't know how prudent it will be to focus strictly on turkey and wine for the interim. Oh, and one last point... Why does Wierd Al never get any older?
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Please do not park in USDT. It is the antithesis of bitcoin.
USDT is a fiction- a claim against the assets of a completely unregulated issuer. WHEN that issuer fails, there will be no bottom and no recourse. It's like Liberty Cash, or hash cash, or e-gold, or bitgold, or any of the other centrally issued e-currencies before bitcoin. Every single one of those currencies is gone, because they are subject to all the limitations of having a central issuer. It's like fiat, but with no government backing it.
It is the absolute worst possible place to park your cash if this scenario actually happens. You're better off in Zimbabwean fiat. Or in Mt. Gox bankruptcy claims.
You dont think that last paragraph will invalidate the value of your entire post?
Over the top hyperbole isn't a way to persuade anyone that any parts of your post have any validity.
Good point. I will keep that tidbit in mind about overuse of hyperbole.
I'm not terribly concerned about the scenario happening, but I did take some money off the table.