Given the recent declines (and that the crowdsale was conducted in BTC) - how has this affected your funds? Will this delay the release?
It’s hard to say right now. We can obviously adjust our financial forecast (how long our funds will last) based on the new price, however, we will only realise the losses as we actually exchange them. So, only time will tell what the impact will be. I should say that we are well covered currently and I don’t foresee the low btc price impacting upon our release schedule at this point.
Ok my question is if you wanted to store the value why not sell the bitcoin for something with a more stable value like gold or something?
@Blindsite2k , Considering this is is a global endeavor; wouldn’t it be tough to transmit gold coins out to the devs making this majestic software happen in a flash.
Plus, liquidating all the coins for fiat or gold all at once would bring the price down even lower…
Dude you don’t convert it all to gold. You convert a portion fo it to gold so that it remains at the same value. If you have 1,000 sitting in your bank and you’re monthly expendeture on groceries is 200 then you’re looking at 800 just sitting there idling for whatever amount of time. What I’m saying is if they have a million in bitcoin take a portion of that and convert it into gold until it’s actually ready to be used then convert back into bitcoin in order to transfer it to whoever needs it. Bitcoin is good for transfers, not so good for storage, even over a period of months.
Either that or have someone watching bitcoin prices like a hawk and trading like crazy.
Might lose a life by doing all that trading
Hence the gold partition.
I agree, a good strategy; is to maintain savings in three piles, sort of like how at least three continents of will hold the data for the safe network.
Likewise should have three different diversities in liquid assets; whether in an income generating business with real assets such as real estate, or in cash of various currencies, crypto realm assets, and also investible items such as gold silver indexfutures;
This way there are reduced locations of failure, and one should certainly and consistently adjust the gains into activity, or to balancing of the portfolio;
So, gold is an option of diversity, when maintaining wealth.
We are using a basket currency we assembled using BitShares of (bitgold, bitsilver, bityuan, bitusd, etc…) to protect us from volatility to the greatest extent possible-- gold alone will do nothing.