By John Miller
Wednesday the 31st of January 2017
Horry sheet, the Magic Buy Wall for Bitcoin is fail guise.
Oh Bitcoin, artificially inflated Bitcoin. Once it slipped down out of the 11 comfy band, it swiftly got traded down under $10K. And it didn’t take long for Bitcoin FUD to take over the whole Board.
Right now the only Green left on the Board is the few pet projects of the Magic Whales that were getting pumped up with Magick Tetherdumps, but those are a fool’s errand goy.
Here’s how to survive the crash, if you’re me.
First of all, you’re 50% in ETH, paired with your local currency. Trade out now and lose the fiat gain that you made on the FOMO. You’ll come out even or better on fiat anyway, and be in a good position to rebuy your Ethereum if Bitcoin drags ETH down with it on the way to 8K – or if BTC goes under $8K during the next week – wew, lad.
Next, you got two thirds of the other 50% sitting on Binance. Half in XLM and half in VEN. I’m long term bullish on Stellar Lumens, whereas VeChain I’m only into for the gainz. Good news, Lumens got CRUSHED in today’s trading in Asia, but VEN is HODLing. Heh heh heh, thank you Asian frens.
So you tip the VEN into ETH, then tip the ETH into XLM, and then send it all off exchange to your Lumens Wallet. Nice and comfy, plus you traded up for Lumens at a MASSIVE discount.
Why pay those fees though, when you could just have iron hands? IRON. FREAKING. HANDS.
Well, I love Binance, but if/when Tether breaks BitFinex will probably suffer a run, and this could trigger a run on a lot of exchanges. I’m pretty comfy being 50% cash, 34% in my XLM wallet, and 16% in my XRB wallet on Bitgrail, but choose your own comfort level desu.
I’m not sure I trust the Raiblocks.com web wallet any more than my Bitgrail wallet, and the XRB desktop wallet is shit, so I’ll just ride the storm on the exchange here, kek.
OK, now let’s see how America reacts to this when it wakes up. The death of Bitcoin will not be pretty.
Full disclosure: John Miller’s IRL name is Frank Faulkner. I’m an Aussie who’s keen on Conservative politics and Trump. I also enjoy various sports and Christian activities. Somehow I ended up in the Anime Right and I trade Crypto because I want a Lambo.