Post
Topic
Board Service Discussion
Re: BitMarket.Eu - ownership changed (in a way)
by
MPOE-PR
on 22/12/2012, 15:23:22 UTC
Quote
On a more general note : the time of cowboy style, "one man and his hopes" fiat-BTC exchanges has passed. The exchange market is moving into a new phase. There is room on it for MtGox, on account of its old age and well known brand, and for people like the Frenchies doing that bitcoin-central partner-with-a-bank thing. All other exchanges are going out, and things being what they are the majority of them will be going out uncleanly.

Because of this, keeping money in any other fiat-BTC exchanges than those two is pretty much cruisin' for a bruisin'. Spot sellers may still be safe for a while, select ones may even be safe forever (as they're a subset of the OTC style marketplace), but for better or worse cowboy exchanges are a thing of the past.

Source.

If you hadn't earned anything through the side but worked for it day in and out I wouldn't want to bet on your integrity of not touching funds either to earn at least some interest for part of the user funds. So, please member of this "community" - don't pretend like any of you guys who possibly stealing electricity or misusing your company's resources that it would never have crossed your minds to earn interest or short btc.

Fuck you for even daring to insinuate crap like that. Turn off your computer and never show up around here again, you have no business posting on any forum I read.

In China, there was death penalty case 10 years ago.

China is kinda cool like that.

I think the best methods here is try to restructure the debt as soon as possible

It is not a matter of how soon, restructuring is not possible at all. The value of an exchange that's not on the aformentioned list of two is something in the low hundreds to mid tens of BTC. Lock stock and barrel, the whole shebang. The value of a blown exchange, such as bitmarket.eu or bitfloor.com or so forth is some approximation of zero or epsilon. To restructure tens of thousands in debt atop zero to epsilon equity is an impossibility (except if you have governments and central banks, which BTC doesn't have).

I have sent the admin some ideas and i am also willing to invest into his site, but 260.000 USD, thats simply impossible to "earn" back.

Quite.

Actually the most annoying part for me is, that i went into the bitcoin system because the "bank run" problem is not existing, and now this guy is speculating with users funds more than any normal bank from the corrupt banking system ever would have dared... Lol

Who'd have thought real world problems don't have panacea solutions. Everyone conveniently thinks irl banking sucks because "bankers are evil". This is practically never the case. Real world systems suck because complexity is unbounded and human ability is.