caga (OP)
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October 29, 2014, 12:09:31 PM |
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I have a couple of bitcoins, and don't wish to convert them to Fiat due to certain reasons. I also, don't want my investment in bitcoin to be on a rollercoaster ride, so is there a safe way to convert bitcoin into fiat and hold it online at a stable price.
I am aware that Crypsty and all hae btc to usd option, but require verification and all, which I don't intend to do. Is there any other way?
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mullerdan
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October 29, 2014, 12:40:10 PM |
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Maybe a staart will be to try to not panic buy/sell on every news.
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caga (OP)
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October 29, 2014, 12:56:34 PM |
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Maybe a staart will be to try to not panic buy/sell on every news.
Like I said, I am not looking to buy or sell. Rather, I just want to keep my coins as a safe keeping at the same value. I am not looking to remain in bitcoin for profits during a rise. For instance, if I was signed up at cryptsy, and had my coins converted to dollars, and had it in my account, then that would be good. But, again, it involves a risk of having a 3rd party holding the coins. |
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El Emperador
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October 29, 2014, 01:59:07 PM |
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Why do you want a stable price while Bitcoin could increase its value at any moment?  |
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caga (OP)
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October 30, 2014, 09:08:20 AM |
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Why do you want a stable price while Bitcoin could increase its value at any moment? Well, that maybe the case but I don't want to be in it for the ups and down. Thats what demotivates me from being into bitcoin. I like the technology and want to use it that way. |
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GreenCoin22
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October 30, 2014, 09:41:33 AM |
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maybe only sleep
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howhardcanitbe
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October 30, 2014, 02:25:34 PM |
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It sounds like what you're looking for is a financial instrument that is pegged to the value of your favorite currency. This is not bitcoin, and if you don't want a third party involved then I would recommend looking on the commodities market for something very stable and then have it shipped to your house. For example you could buy 1000 sheep. People like wool, lamb, and mutton- sheep are also great company.
I could imagine a third party service that promised a certain USD amount of bitcoins to you from here til infinity and then they took on the risk of all those fluctuations but then it wouldn't really matter if they were holding your money in bitcoins or dollars or if they, like banks, had just taken your money and gone off and done things with it while you weren't using it.
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TheButterZone
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October 30, 2014, 08:29:26 PM |
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This makes absolutely no sense. You don't want to convert them to fiat, but you want to convert them to fiat. Just keep the BTC in the form of BTC and tell everyone you won't sell/spend it for any less than a certain rate. Then you're holding it at a stable price.
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Saying that you don't trust someone because of their behavior is completely valid.
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RodeoX
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The revolution will be monetized!
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October 30, 2014, 08:33:11 PM |
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Wait, we get to decide the price? Ok, $10,000 is the new price. Anyone want to buy a bitcoin from me? They are on sale right now, only $9,800!!! That's a $200 savings player!!!
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kanggoroo
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November 02, 2014, 12:26:59 PM |
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After Gox , Mintpal and other scam exchange site , i dont believe to put my money for a long time in online ecxhange site.
Maybe in short time period its ok .
The most safety way is keep that in your cold wallet.
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o_o
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November 02, 2014, 05:48:09 PM |
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Don't buy or sell at every shit news. Pulls your balls outside and hold, because it is all good, bitcoin have much resistance and many people believe in it !
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schutzhund
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November 02, 2014, 05:55:01 PM |
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Put them in a paper wallet and forget about it from six more months that's your best bet lol  |
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Some1else0
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November 02, 2014, 09:14:07 PM |
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I think you can deposit your Bitcoins on Bitfinex and then convert it to fiat. You just wouldn't be able to withdraw to a bank until you submit your information and stuff. You can, however, convert it back to Bitcoin and withdraw that without any verification. You might want to look more into it first though, I'm not 100% about it. Hopefully another member will either confirm or deny this . |
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redskins49
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November 03, 2014, 12:24:54 AM |
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Invest in a BTC fund if you want to reduce your exposure to volatility. But since bitcoins are still quite new, most fund managers in this sector dont have a long track record, so be careful
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Armadillo
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November 03, 2014, 05:48:02 PM |
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The OP wants his bitcoins to stay at the same price he purchased them at....he doesn't understand the fundamentals of how markets work.
When you buy something it is only worth what someone else is willing to pay for it. That price might be higher or lower than what you paid for it. With bitcoin that price changes drastically so if you don't like the volatility (price going up or down), you might want to try a different investment.
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the joint
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November 07, 2014, 07:37:53 PM |
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I'm not a fan of the question in general. If you want BTC to remain globally accessible and available to all, you really have no choice but to accept the volatility until the market grows much, much larger and is able to absorb that volatility.
The good news is that we have witnessed decreasing volatility every year. This is exactly what we would expect to see.
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cheekychap
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November 08, 2014, 10:56:58 AM |
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I haven't used it but it seems to me that you could benefit from the "Locks" feature that the guys from Coinapult have developed. Here is a video I found on the subject: http://www.youtube.com/watch?v=AxriIkGaY60That might be a good way . Have they launched already? |
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1Referee
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November 08, 2014, 11:56:22 AM |
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Best way to do so is to get rid of speculators and other extremely short term investors. At this point that's not possible, which means we will keep the volatility for atleast a few more years. Just enjoy the volatility and use it in your benefit, earn some cash |
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cheekychap
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November 08, 2014, 02:29:28 PM |
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Best way to do so is to get rid of speculators and other extremely short term investors. At this point that's not possible, which means we will keep the volatility for atleast a few more years. Just enjoy the volatility and use it in your benefit, earn some cash After a few years, bitcoin prices should be much more stable and less voltaile, just because of the reason mentioned above. |
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