Cashing out to NMC (and back)
Posted: Thu Oct 24, 2013 12:30 pm
Considering that it is possible that we might form a new bubble in Bitcoin soon, I thought about cashing out at least some BTC during the rise (following a simple target proportion of holdings in BTC of the overall holdings, for instance). Since I want to try my luck at long-term holding, it won't be too many coins, but maybe some. However, I'm not sure whether I want to do that in fiat. Gold would be an interesting option, but the stores I have seen that allow BTC <-> XAU are all not Europe-based and have bad rates (IIRC). PoS would be even better, but seems even less likely at the moment.
So, another idea are alt-coins, and here of course mostly NMC (because it has a value by itself not related to speculation only). The BTC/NMC price has seemingly followed the USD price more or less during the last time (ignoring the crash because of the bug), so it seems like it would be possible to buy NMC during a rise of BTC, and possibly buy back more BTC after it crashes a bit.
What do others think about this, is it a good approach? Do NMC (and alt-coins) indeed hold their value in fiat terms when BTC rallies or crashes?
So, another idea are alt-coins, and here of course mostly NMC (because it has a value by itself not related to speculation only). The BTC/NMC price has seemingly followed the USD price more or less during the last time (ignoring the crash because of the bug), so it seems like it would be possible to buy NMC during a rise of BTC, and possibly buy back more BTC after it crashes a bit.
What do others think about this, is it a good approach? Do NMC (and alt-coins) indeed hold their value in fiat terms when BTC rallies or crashes?