Skittish market liquidates smartcoins

What a week it has been! Full crash for bitcoin and a rough ride all over. Every time I look at the dex, I see little or no sign of relief. As a result, I have stocked up with some USD to cover some of my loan in case it becomes necessary. Let's dive down in the fundamentals:

Bitcny

CNY had a sharp dive in market cap. Currently at 52.5 mill, down from 63 mill last week

BitUSD

USD is at 18,4 mill, down from 23,3 mill last week.

The beauty and the beast

The beauty of smartcoins is to hold them for downturns like this. I sell just a little, so I can cover most of my loan if it gets real ugly. My loan is in USD and I also hold some gold and hero to help me out if needed. I was watching bitcrab being called yesterday and man he has guts with an enormous short in all three major fiat equivalents. I thought he had covered since last time I looked at what he's up to.

The takeaway for the average joe: don't be like bitcrab and risk your 'shares. Keep some reserves when the market goes against you. Personally I have bought USD from 2.5 and lower and sold a little from 3.5 and up. I still have to get out of bed and check. But I don't think there are huge surprises.

Shareholders should also keep in mind Ocash that is due in a little while. It will make a extra usecase for smartcoins and I think it is what is needed to really get some traction in the adoption of them. And as most of my readers should be aware of: it is the use of this assets that will make the 'shares fly.

Play safe. Keep a safe margin and have fun.

Source: graphs and numbers are from coinmarketcap.com. It might be different from other sources.