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?I explained above why a loss (or gain) in bitcoin relative to the locked currency does not imply a loss on the books for the service. (It's not complicated.) For some reason you're still pretending that a 79% loss in the price of bitcoin relative to the USD implies the service provider has a 79% loss on the books. Now the question is: what is your motive in pretending that?
Youre right,
To my knowledge Coinapult is not currently carrying any loss on the books until they commit. They are locking BTC to a current BTC=fiat trade value.
In their Actual Locking TOS: After your acceptance of the quote described above, subject to these Terms, your Fixed Bitcoins will be converted into the right to receive a future amount of variable bitcoins corresponding to the quoted underlying asset or currency value (the Variable Bitcoins).
What will the value of the Variable Bitcoins be?
Considering the current wild fluctuations in BTC, it concerns me that any company offering this service is exposing themselves to a significant risk even in a 24hr period from offer to acceptance.
Taking into account the past few months of volatility. They have to maintain significant assets to cover the extreme recent BTC price fluctuations.