sBCH: How Do I Save My $FlexUSD Fund For Possible Bankruptcy?

DISCLAIMERS; This article is not FUD or spread false information, this is a blog that will show how I saved my fund in stable coins for more losses instead of security. Mind that the crypto-verse is aware what is the issue, and the stable token that must stay on a dollar pair basis is now losing at 61% from its original and must-be nature price. God help the FlexCoins as we all wished for the recovery.

A nightmare, really it is. Who could think that being stable and must be secured safely is not a safe in real-time, things become so much that we expect security ended up with more losses. Now it's really a big deal if I will trust stable coins as the days and more years pass. A nightmare for who could think I could lose my fund in the safe vault; it's like a heist of professional rubber that gets inside the vault broke the code.

At the time I write this article, the time is 8:46 AM in the Philippines Standard time (manila base) dated June 30, 2022. The price of BitcoinCash (BCH) is $103.9 or ₱5,703.64 and the exchange rate of Dollar to Peso is $1: ₱55.07, why do I say these numerical? Because I converted some of the SmartBCH Tokens to FlexUSD in the price of Dollar/Peso at the lowest ₱50.02 which I think is still a great opportunity for its feels like holding in a dollar base could still give me some incentives as the economic of my country is struggling in the dollar exchanges rates. Thinking the fund I lost in FlexUSD is a big hurt on my part for I never expected the worst to come. Just that my interest of holding a dollar instead.

This is one of the negatives that happened as what return I computed ended more losses, but I was still lucky that I prevented more losses for what happening right now, in some great point still I do recover what was lost indirectly as my day tradings start. I started my day trading and I have seen the crash of FlexCoin from 3.60+ Down to $1.92 no-brainer I didn't dive into the crowd and brought some, then 4 hours later the price came back to $3.40 so I immediately sell my assets as 100%. Then comes the next day it gest down from $1.20 to just $3.40 so I buy back the profit I get from last night and turns out that it raises again to $2.20 and not a greedy man thinking to raise more, I sell 100% of my coin. After the doom, it drops again to $0.92 per FlexCoin, this time I rested as the pressure of people toward the issue of withdrawals gets in the heat.

Fortunately for me and unfortunate to others at the moment the price of Flexcoin at the moment I write this article is $0.34 a bloody price where I understand the doubt and the fear of small investors like me. Flexcoin had an All-time high of $6.60 and is at the lowest price at the moment based on the SmartBCH price chart (marketcap.cash). Imagine dwelling in the sphere at $6 and now drops to -650% loss. That’s massive.

FlexUSD was created to be likely displays as the price of USDC also suffers from great danger.

Honestly, I was worried when the price of stable coin FlexUSD reached the price of $0.81, I brought my stable coin for $1.01 as I thought stable coin is a safe place for me bank amount as to counterfeit the volatility of any tokens and coins but ended up misery. I still see people who buy the stable coin in what they said is 20% Off, and it jumps up still to $0.90, yet I have no good feeling. When it reached $0.92 I decided to take my risk and sell my FlexUSD to WBCH (WrapBitcoinCash). Never had any regrets when I see that still comes to $0.95 but the next thing that happened it drops again to $0.80 and goes from 0.50 to 0.30, the price still recovered, and the month I write the price is $0.39.

I imagine that I might lose 50% of my fund if I will wait for a possible $0.50 per flexUSD so I made a decision where I shall just take the risk at the moment, and now I might fill bankruptcy if I never had that gut feeling. Thinking I lost 8% of my original FlexUSD value over now that it drops to 61% is better looking.

How do I feel the feeling that I might lose if I won't sell?

I do reads the conversation of people in the telegram channels, and I read the article about CoinFlex and the issues about everything.

As for now, I know might be some of you also still crying in your grave especially small investors like me, but at the end of the day, it gives me a life lesson, maybe not so much trust in a stable coin, not so greedy, and always prepared.

Thank God, my fund from flex used did not bankrupt me up, for I ignored my portfolio a long time ago, and just come when the issue is about to rise up. Thanks for reading…