26 Feb '17, 3pm

How to Avoid Losses When Bitcoin Price Goes Up and Down

This essay is an updated chapter from Luis Buenaventura’s Reinventing Remittances with Bitcoin , available for free in e-book and print form now. If you’re just joining the Bitcoin train, it’s probably hard to imagine what the world of early 2014 was like. The largest Bitcoin exchange at the time, Mt. Gox, had just imploded and about $450 mln in customer funds had gone missing. The market reaction to this catastrophic failure was both immediate and prolonged: Bitcoin price would tumble down a series of cliffs from a $1200 peak to a $180 floor over the next 12 months, shaking all but the hardiest of investors. Using Bitcoin as a mode of transmission rather than a store of value Preventing such a precipitous loss of value was one of the primary goals of Bitreserve, the startup launched by Halsey Minor in late 2013. Unlike most of the community, the founder of CNET wanted to ...

Full article: https://cointelegraph.com/news/how-to-avoid-losses-when-b...

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