Post
Topic
Board Service Announcements
Re: [Payout Updates] Bitcoinica site is taken offline for security investigation
by
repentance
on 30/05/2012, 22:07:20 UTC
Sorry about the above. It was a slip up by me. Tihan is correct.

30 May 23:30: We're going to proceed with payouts of the few people we have verified hopefully tomorrow for 80% of their claims (the remaining 20% will be refunded later). A more lengthy process will be applied to everyone else.

So this means that you're with-holding 20% of people's USD deposits as well as 20% of Bitcoin deposits?  I think that you need to define "later" in that case.  Given that people are expecting you to replace the missing Bitcoins by buying them on the open market, it would be wise to provide evidence of doing that.  People want to be confident that you actually have the 20% of both BTC and USD which you're intending to with-hold.

And yes, people need to realise that no matter what system is in place, someone's going to get paid first and someone's going to get paid last.