Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
deadfi$h
on 28/02/2014, 21:48:06 UTC

  

Frrom Bitcoinbuilder FAQ
Quote
As it got bigger though, I decided the only use I should have is to convert all the "real" BTC fees I earn into GOXBTC. The reasoning behind this is two-fold.. 1. I do think gox will be fine and it's a good investment, but also 2. if somehow they're not, I want to be in the same (sinking) boat with everybody else.

That is FUCKED up... he had NO hedging... apparently?   And, his business plan seem a bit, lacking?    Anyhow...   So how can you keep such a business going in the event that GOX is truly and totally insolvent in terms of the reimbursement of the investors' BTCs?



This doesn't make a lot of sense to me. Why would he want to go down with the ship when he was offering a fair service? He was giving people the opportunity to buy/sell the risk of Gox imploding where both sides knew what they were getting into.

Wants to show a loss for tax purposes maybe?