I already know what this scammer will be saying. He'll say he had no idea that bitcoin price takes huge increases all the time. He'll say he thought bitcoin price is more stable than dollar. He'll say it's all because of slow banking.
He'll say that unfortunately the loss happened during the november peak. Just a bad coincidence. He'll say he thought that selling all IPO bitcoins without buying the same amount the moment they're sold seemed like an excellent business idea.
Can you really believe this guy he is that retarded? He's a scammer.
I recommend Jerod that you give all your bitcoins back. I don't care if you think you're entitled to bitcoins you stole, and took for your "work". You're not entitled to anything. Give what you took back.
Our initial supply of bitcoins were sold as users bought them from our site. The money then took 2-3 days to reach our bank account from our merchant account, and then another 1-2 days to wire the funds to bitstamp. We wired the USD funds back to bitstamp as often as possible, but the simple fact is that do what you propose would have required 3-5 times as much capital than we had on hand. When you sell bitcoins you hold cash. It is impossible, due to logistics, to instantly convert/maintain all funds in bitcoins. We did not receive a salary for any of the time we invested into btcQuick and we plan on returning everything that we have back.
You're telling you're a retard who didn't know that the only way that business could ever work is to buy bitcoins right away after they're sold.
I don't propose anything. I'm just saying what is the only way the business can work. You don't need 3-5 times more capital. You can have very little capital to make it work. The only difference will be volume and profit.
I know people who do the same business for over a year on localbitcoins. They always buy same amount of bitcoins they sell right after selling. It's the only way this business can be profitable. It's only way to do business without risk of huge losses long term. Long term is longer that few months. Their profit is not that much, but they never risk their capital.
You say that I propose it like it's something new idea. You act surprized about this "proposal". It's not proposal, it's a simple fact that everyone knows.
BITCOINS GET MORE EXPENSIVE VERY QUICKLY. Everyone who would be running business like yours knows that. It's common sense.
Your intention was never to run this business more that a few month. It's impossible to run business other way longer than a few month.It was all designed to scam us from the beginning. You knew very well it's
impossible to run the business LONG TERM without always keeping same amount of bitcoins.The plan was to wait for the next peak, stop business during the peak, and blame it on slow banking and surprising price increase. Then act like you didn't know that would happen.
It all worked quite well, didn't it? Just like you planned from the beginning. Take it all when the next peak is coming. You did it well. Some might even buy your I-AM-A-RETARD-SORRY-I-LOST-ALL-YOUR-BITCOINS bullshit. I'm not buying it.
Just give all your bitcoins back, it's the only way you can save your face.