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by mbreese
4493 days ago
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Except that exchanges need trust. Customers need to be able to trust that their money will be safe, that they can move their funds in and out freely, and that the exchange wont just take their money and run. This is especially true with an unregulated currency, like Bitcoin. Do you really think that anyone will trust them going forward? If they can manage to get their business back in order, do you think that customers will go back to them as opposed to one of the other exchanges that now exist? Plus, I was under the impression that one of the major reasons why US-based people still had accounts on MtGox was that it was so difficult to get USD out. It's not like they were winning customers before. A great deal of them were just locked in and couldn't leave. |
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I'm a little unclear on that, myself. I don't understand the idea of holding someone's bitcoins hostage. As a depositor at MtGox, couldn't you just send the bitcoins out to another exchange or to your own wallet? What would possess someone not to do that at the very first hint of a liquidity problem?
I'm probably missing something rather fundamental but I don't see how these clowns ever had any genuine control over anyone's coins. Transferring them should always have been an option.