200 gone with some mining karma back
I'll take the karma. Friedcat has integrity and that is worth a *lot* in this climate of scammers, opportunists and fraudsters.
Frankly, my valuation of AM has increased more than the 200 BTC that Friedcat gave back. Knowing you're investing in a company run by an honest guy is worth a lot.
Same. You're a pretty analytical guy, so I find it interesting and meaningful that you're assigning importance to something unquantifiable. Honesty doesn't fix datacenter woes, shipping glitches, nor competitors' efforts. But for me, it is another indicator that I can have a decent level of trust in this guy whom I've never met, nor have any "real world" visibility into. Doing business on a handshake is rare these days. Doing so successfully... well, I'm pleased to count myself among the lucky ones to be a small part of Friedcat's world.
I normally don't consider intangibles (and, as a rule, I avoid companies where intangibles
rationally and justifiably make up a significant portion of the value).
This is a special case. There would be little to no repercussions to Friedcat walking off with everyone's money. The counterparty risk is huge and
must be considered in any accurate true-value calculation.
This action seems, to me, to have reduced the "effective converted liability" represented by counterparty risk by significantly more than 200 BTC. That's how I reconcile it with the rest of my analysis, at least.