I may very well be over cautious, but I think preparing for the worst is always best.
I think the option I would throw out there is to announce to all exchanges that we will be removing our liquidity for a few days. Maybe even ask them to halt the USNBT markets. The nature of our liquidity leaves us at the mercy of the exchanges policy.
Here is a hypothetical scenario:
Cryptopia only supports BitcoinA, while Bittrex supports BitcoinB. Let's say we have 100 BTC for simplicity. If this scenario were to play out, and the exchanges didn't honor the other token, we would only have 50 BTCA and 50 BTCB. If we held all of our reserves in private key form, we would have 100 BTCA and 100 BTCB.
Meanwhile, Bitmain is creating BTCABC in private. When it goes public, we can be certain that we will also have 100 BTCABC if we held our BTC in private keys during the fork event. We would ensure that we could provide liquidity to all chains if necessary.
The risks of halting trading (or peg activity) are inciting a NBT market panic or being on the losing end of massive a massive BTC price change. Since we believe that fractional reserves are sustainable, it wouldn't take a very large panic to do some real damage. This is why this discussion is so important. Let's be real here though, the USNBT market is used for trading BTC. We put ourselves out there with all the risk in providing the USNBT product. The largest exchanges in crypto have said they may halt trading if they deem it necessary, which is why I do not think we would be necessarily wrong to take this action, but exchanges have all funds secure and are insured. Nu cannot compete with that as it stands today.
