Post
Topic
Board Service Announcements
Re: [Payout Updates] Bitcoinica site is taken offline for security investigation
by
Ichthyo
on 06/07/2012, 15:28:35 UTC
Hello genjix,

would you mind explaining some details of how you handle your payout? It seems this could settle the worries of a lot of people here.

  • (1) assumed someone is considered 100% correct, and this claim is for a position of M bitcoins and N USD.
    Is it correct then that this claimant recieves an payout of M bitcoins and N USD? Obviously, as you stated, the first round of payouts will be 50% on each part, but in any case, no conversion whatsoever happens?
  • (2) you stated in the past that you will close out open positions at a fixed buy/sell rate, which is close to the BTC/USD price at the time the site was taken offline.
    Is this statement still valid?
  • (2) how do you intend to handle the case that a (accurate) claim includes a position, but the opening base price of that position can't be established preciesly?

Thanks for any clarifications
-- Ichthyo