Post
Topic
Board Exchanges
Re: BTC-e hacked ??
by
MAbtc
on 06/09/2017, 21:03:18 UTC
So if fiat does NOT get converted, and the fiat withdrawal is very limited.. Our fiat is stuck there? I'm guessing people will be reluctant to sell their BTC / similar for fiat if it will be hard getting it off the site.

The value of the fiat will be much lower on btc-e as there is no assurance it will ever get out.

This means you will probably be paying a hefty premium on coins if they allow those to be transferred out.

I wonder if it might be like the US-facing online poker industry after Black Friday. The cashout situation became so bad that customers on networks like Carbon and Cake began to question the solvency of the sites they played on.

Check cashouts took anywhere from a few weeks to a few months to process, and sometimes the checks bounced. As such, a market developed around P2P bank deposits as a way to cash out. People would pay 40-50% premiums to get their money out of the dodgier sites.