Quote:
Originally Posted by Deputy Chief Command
but but, doesn't that sound like a ponzi scheme? which according to all the bitcoin enthousiasts it most likely is not??
all these numbers sound great, but if there is no way to cash out? then what?
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It's been suspected for some time MtGox is running a fractional reserve operation, their excuses about delayed payment are BS.
Putting your money into the exchanges is the riskiest part of Bitcoin trading, BTC-e & Bitstamp are pretty prompt with payment but then again they are based in Russia & Slovenia.
Then it comes down to trust, do you trust a company that has a fake company address, fake WHOIS domain info etc
The whole thing is shady as fuck but it's no different than any new industry, takes years for legitimacy to take hold.
In the meantime it's a case of weighing up the risk Vs reward
