JayJuanGee
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How much alt coin diversification is needed? 0%?


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March 22, 2017, 11:55:18 PM

So Circle company is encouraging its users to change their bitcoins for dollars because bitcoin price is going to fall down. So Circle company is wishing to buy all those bitcoins whose price is going to fall down. So Circle company is wishing to lose money just because they are Philanthropists or something.

Also, Coinbase will freeze funds for a few days. Thing is this isn't really FUD given the situation. If anything it shows the ecosystem is maturing. Since BU has yet to implement the code needed to prevent replay attacks (many pose that this is intentional to allow the killing of the lesser chain in event of fork) these companies are taking the initiative to reduce their customers exposure and/or their own liability.

 Safest scenario is having your coin in cold storage and NOT moving them at the time of fork. Circle encouraging customers to dump is dubious though, for sure. Still, the overall message is to be prepared, not that the fork is imminent as many are lead to believe falsely.  

There is a considerable tone difference between the Coinbase announcement and the Circle announcement, and the Circle announcement surely seems to traverse into the unethical territory (even though it seems unlikely to be illegal in our current regulatory quasi wild wild west status of bitcoin).