Hi, I have neither the expertise nor desire to get into crypto currencies. But certainly interesting. So a question . I have bitcoin in my cold wallet , I plan to buy a villa on Lake Como [modest one , Eu29mill], the seller has no interest in Bitcoin. So , somehow I need to convert my bitcoin into fiat . If Binance has a run , how do I get my money. One presumes that if there is a run on Binance , the other exchanges are not going to be in great shape to take any slack. Selling it to a bank which normally buys it , or even peer to peer , hard to imagine as everybody runs around trying to work out what is going to happen. So , what is going to happen? I imagine a whole lot of people with ''cold lockers '' just hanging around waiting for whatever might happen , happening.
Now , as per recent events , owners of crypto dont have forever to sort this out , as people with hobnail boots and bailiffs are there pretty quickly, if they feel their assets are at risk.
As I look at various scenarios , all of the ''internal'' crypto solutions seem to fall over at that last '' convert to fiat'' step. I accept that it seems like that to me because there is something I am missing , I look forward to someone supplying me with that bit. [excuse the pun , it is a failing]. cheers
