Hodl is the right choice for all hard times
Saw the usage around, but didn't know it's orign meme.
Right now it looks like Bitfinex is doing some seriously shady stuff by selling off their own shares of tether, or creating new shares and selling them off and then distributing "them" to the users, who then in turn use them to buy Bitcoin, when in reality Bitfinex already sold them before, which means the price of Bitcoin is being artificially pumped and this is not good.
Was explaining it to my wife like this:
ME: Hun, remember when I was going on and on about "Quantitative easing", the Fed buying their own bonds. Remember how I said it would be the downfall of the western economy and that we needed to sell our house, move to the woods and buy up bitcoin
HUN: Yeahhhh......
ME: Well now some moron is doing the same thing to Bitcoin
I have a patient wife
I would seriously be weary of keeping any Bitcoin on Bitfinex right now, or any altcoin for that matter - get it out asap because people are saying they will be the next Mt. Gox and that would be catastrophic to so many people.
Yeah, I don't hold it in exchanges long.... It has saved my bacon more than once. Moved my stuff off BTC-e the same day it landed.... thank goodness for that.
People who uses Bitcoin for a long term now knew what happened in Mt. Gox before and Bitfinex is an another kind of exchange that is now linked up with Tether Bank, we all know that Bitcoin exchanges are centralized though so it means someone is taking in charge with it.
I read that both Bitfinex and Tether are banking and operating under the same jurisdiction that made them more shady plus they are showing an almost the same moves that people obviously sees and feels like for example of you can't withdraw USD from Bitfinex and at the same time with Tether.
I'm hoping a 10 year hold will weather out any storm. Be nice to have access to it in 5 years, but for now I'm telling everyone 10 years. If we could hit 15k by 2028 I'd be floored.