Bitcoin. It’s pretty great, amirite? But, ya know, could you maybe really chill the fuck out on it for a single goddamn second?
I mean, jeez, this rocket ship is on a one-way trip to the cryptocurrency moon — that much we are aware for sure — but, what if, and just bear with me now for a second ’cause this is gonna sound crazy , what if it’s not?
Sure, Bitcoin is hitting record highs apparently every day now, and if there’s one thing spend BTC at dark-web marts has learnt me it’s that majestic high-flowns feel like they’ll last-place perpetually. But perhaps it’s time to cut our unbridled exuberance with some downers.
Thankfully, the cryptocurrency exchange Coinbase is available to do time that. In a Dec. 7 blog berth, the company’s co-Founder and CEO Brian Armstrong reminded us to perhaps take a penetrating breather before we sounds that “buy” button.
Titled “Please invest responsibly — an important letter from the Coinbase team, ” the send predicts as side inform and segment remember that, lots like with compassion, there are no pledges in Bitcoin. A region designation “Be an educated investor” really drives this home.
” We likewise wanted to remind clients of some of the risks associated with trading digital currency, ” writes Armstrong. “Digital monies are volatile and the prices can go up and down. Due to the rapidly changing premium of digital currencies, some patrons may not have exchanged restraints that are sufficient relative to the value of total digital currency they are collecting on Coinbase.”
Sell restraints are rules Coinbase targets on your detail restraint the amount( in terms of USD) that all individuals can sell in a given amount of occasion. You might, say, have a sell limit of $10,000 per week. If you’re containing onto $100,000 value of BTC, and occasions take a sudden curve for the worse … well, you could be left bracing a baggage whose appraise soon evaporates before your very eyes.
Coinbase < em> really really certainly wants you to remember that.
Oh, and likewise, while Coinbase is possibly stoked that it’s the second largest most well known app in the App Store according to App Annie, popularity accompanies with it its own planned of headaches.
“The last few weeks has verified an unprecedented increase in the cost of digital currencies, ” explains Armstrong. “More people are involving with our pulpit than ever and that bodes well for the future of the digital money. At the same time, it does create extreme volatility and stress on our systems.”
That stress could manifest as “the inability to buy or sell for periods of time” — something that might present a problem during these aforementioned highly volatile seasons.
So breathe deeply, slow-witted your Bitcoin trading roll, and cut it out with all the stress already. Your purse will thank you. That is, unless, Bitcoin stops increasing in importance. Then it won’t thank you.
Man, I certainly need to buy some Bitcoin.
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