Post
Topic
Board Long-term offers
Re: Starfish BCB - Loans and Deposits
by
PatrickHarnett
on 31/08/2012, 20:22:43 UTC
To date meeting withdrawal requests has still been achieved reasonably quickly (basically within a day).  If I was to receive a request for 2k from one of my largest depositors, I do not see a good reason why that would or could extend beyond a couple of weeks allowing me to sensibly move or liquidate some assets.  If everyone asked for their funds back (16k), that would take a lot longer.

Can you give a specific upper bound?
What if you received a withdraw request from everyone, today?

As discussed directly with you, and as set out above, a request to extract 16,000 BTC would take a long time.  In order to generate returns to pay interest takes time and effort and perhaps it isn't appreciated that there are not simple quick tricks generating income.  I have a diversified portfolio of investments, a good mix of customers and carry the risk from bad loans and the timing of requests.  As such, it also requires me to carry higher liquid funds than something like a bricks and mortar bank.  Also, as I have said above, the past two weeks have seen many more coins sent out than received.  That is a mix of nervousness from people wanting to put coins under their mattress, my decision to largely halt deposits (although I have allowed some), and meeting commitments from my own funds.

I am not going to set a "specific" upper bound as to do so would likely see it breached at some time in the future (say if the ten largest depositors decided to leave).  If this is not acceptable, please send a withdrawal request and I will process it as rapidly as possible.