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RE: If You Own Bitcoin, Bitcoin Cash (Or Any Other Cryptocurrency) You Should Read This
In such a scenario, the entire market, even the safest of coins, are going to take a big hit. Market cap will squeeze and a lot of progress will be undone.
Does being in USDT help in such a case?
USDT is not a cryptocoin in true sence.
Trust and bilieve in one particular coin give it value. ANd trust is quite an ephemerial thing.
SBD (when it returns t0 1 USD peg) is a better option IMO.
I was thinking of SBD as well but it has broken the peg and I don't see why it won't go too lower than pegged amount. Nonetheless, with +-0.10$ fluctuation, SBD can be a really good option.
Sbd cant go lower than peg. If does you will be able to buy steem with 1 sbd = 1 usd at platform and sell for more sbd on exchange.
SBD isnt supposed to be pegged to 1 us dollar. it simply means that 1 SBD is worth a minimum of 1 usd worth of steem. 2 different concepts. if you read the steem whitepaper this is what it says.
so, its not pegged to 1 usd. its just supposed to be worth a minimum of 1 usd of steem.
try bitusd
just take profit now and then, don't be 100% crypto
That took me to zero in 2017. Not a good trader at all.
I mean sell 1% every week while things are reaching new all time highs...
Take a look at decentralized exchange, I am trying OpenLedger.io,
instant deposits of steem, and low trading and withdraw fees
Thanks. That's a good suggestion. Cashing out a little chunk every now and then. If such an attack happens and market crashes, that withdrawn money would come very handy to buy coin at their lowest.
not, IMHO
How long can it take for this attack to happen? Any ideas.
You mean how long the attacker wants to hold the secondary chain hidden? Nobody knows. The actual takeover in terms of hashing power can happen instantly.
That's what I wanted to know. Instant take over rings some alarm bells for me. Next question though. Is it technologically possible to prevent it from happening?
From a technical point of view, no. Technically speaking, this is a Bitcoin fork, which uses Bitcoin hashing power. So, technically speaking, it can happen.