Quote from: pawel7777 on January 25, 2015, 11:27:50 AM

Quote from: mmsmears on January 25, 2015, 10:48:59 AM

Do you really call "Coinapult" a solution? Do you seriously think that they really could survive holding a 79% loss on the books for over 6 months & still be able to pay commitments?
To (hedge) a 79% loss you need an alternative income source to support it. Located in Panama, I imagine they have so many other alternate income streams, really?
I wouldn't count on them fulfilling their commitments when the BTC price fluctuates wildly.

79% of what?

Anyhow, if you're concerned about their business model just ask them directly to explain it to you (before declaring them insolvent). IIRC they're active on this forum.

And they're not the only business that offers such service:

http://www.coindesk.com/first-glimpse-inside-halsey-minors-new-payments-platform-bitreserve/

https://bitreserve.org/en/homepage

https://bitreserve.org/en/status

BitReserve have offices in US and Shanghai, if Panama is not good for you.

ps I don't use neither Coinapult or Bitreserve, so I cannot vouch for any of them.

79% of what? The high bitcoin price $1,200 to $250 = 79% decrease

I didn't declare them insolvent, I just don't trust any company offering a guaranteed BTC to $ return especially when you read the TOS.

I had a roommate from Panama that said that for enough $$$$ you could essentially do what ever you wanted as long as the right people were paid off.

Now back to my original problem with bitcoin volatility.

To be widely accepted, bitcoin needs to settle down. People want their currency value to remain fairly stable, not fluctuate wildly like a commodity stock. Imagine if your paycheck was paid only in bitcoins and you would gain or loose 35% of it's value week to week. Currently you still have to convert to fiat $ to pay bills. Would your utility company, landlord or mortgage company deal with +/- 35% weekly value fluctuations? Would you be able to pay your rent, mortgage, car & health insurance or buy groceries? Sorry kids, we don't eat this week:(