Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE
I think Fireballs explanation makes sense.
Nobody can place money at any exchange and claim that they "couldn't have known" if the site runs off with the money. Unfortunately. That severely limits how much money I place anywhere.
With ICBIT, the risk that they run off with my money is real. So is the risk that they are closed by the authorities, or are hacked. I still think the largest risk to my money is the trades I make.
As far as I'm concerned the point has been clearly proven. If any fools want to part with their money from this point onwards they're welcome to do it, but they won't be able to claim that they "couldn't have known". Simple as that.
Nobody can place money at any exchange and claim that they "couldn't have known" if the site runs off with the money. Unfortunately. That severely limits how much money I place anywhere.
With ICBIT, the risk that they run off with my money is real. So is the risk that they are closed by the authorities, or are hacked. I still think the largest risk to my money is the trades I make.