Post
Topic
Board Service Discussion
Re: Esoteric Investments, LLC (up to 1% earnings)
by
Puppet
on 06/11/2014, 20:33:10 UTC
I'm wondering how such a bet could be resolved. Wouldn't it be rather easy for them to hide liabilities?

Im actually concerned about the opposite. If esoshit has only 10 BTC in 'customer' funds, and therefore an unfunded liability of just 1 or 2 BTC in "trading profits", agreeing to a 10 or 100 BTC bet would be a no brainer for them: just pay out the outstanding accounts and the 2 extra BTC from their own pocket, then collect the 100 BTC bet.  With Pirate or bitcoin trader I was pretty confident that no bet I could afford would cover their liabilities, but here, Im pretty sure thats not the case.

Quote
I suppose they could pay everyone out in full and shut down temporarily, but how do we know if they really pay everyone out?

If no one complains about not getting their money back after x weeks or months, that would satisfy me. Of course they could do much better by opening their books, assign each customer some hashed ID so that everyone can verify their accounts are being presented.