Developer Funding - Mitigating BTC fluctuations

1

@YeastplumeI just read that due to the price correction in BTC that you are considering selling (the bottom) to lock in development funds in case of further slippage that will endanger the speed at which the project can develop. Please consider the following:

Option 1 You can eliminate your risk to exposure without actually converting to fiat. Move your funds to Bitmex.com (never been hacked, adequate cold storage, excellent security, withdrawals batched and send only once a day) and short with 1x leverage. Since position would be margined, if the BTC price goes down, you get paid in BTC. No fees on futures.

Option 2 is transfer to Kraken (excellent security) and trade for USD (NOT tether) as this is not a taxable event.

2

Thanks! though in this case I didn’t say I was considering, I said it was done after discussion with the team on the best course of action. It wasn’t sold at any recent ‘bottoms’ (nobody knows where ‘the bottom’ is), so there’s enough there to cover the time period. This is likely to be an ongoing problem, so I’ll take your suggestions into consideration for the next round.