But wouldn't that lead to... *SHOCK* fractional reserves!
On Fri, Mar 21, 2014 at 8:36 AM, Sylvester Liang <[email protected]> wrote: > Try asking gox if they lend you the 200,000 BTC to do that. > > > On Fri, Mar 21, 2014 at 7:50 PM, Kelly John Rose <[email protected]> wrote: > >> On Thu, Mar 20, 2014 at 11:25 PM, jim bell <[email protected]> wrote: >> >>> >>> http://www.engadget.com/2014/03/20/mt-gox-apparently-found-200-000-bitcoin-in-an-old-wallet-shoul/?ncid=txtlnkusaolp00000589 >>> >>> "In a bit of news that's familiar to anyone who ever put on an old >>> jacket and found $20 in the pocket, embattled Bitcoin exchange Mt. Gox has >>> made a fortuitous discovery. The company announced >>> (PDF)<https://www.mtgox.com/img/pdf/20140320-btc-announce.pdf> in >>> Japan that it found 200,000 Bitcoin (worth nearly $116 million at the >>> moment) in a wallet from 2011 that it no longer used. That's less than a >>> quarter of the 850,000 Bitcoins CEO Mark Karpeles reported were missing, >>> but at the moment, at least it's something. According to its statement, the >>> coins were moved to online wallets on the 7th, and then to offline wallets >>> on the 14th and 15th. The mystery of what happened to Mt. Gox's >>> funds<http://www.engadget.com/2014/03/11/mt-gox-us-assets-frozen/> is >>> still far from solved, but between this news and reports of updated balances >>> for account >>> holders<http://www.engadget.com/2014/03/17/mt-gox-login-page-returns/>, >>> it seems possible that there's something to be recovered from the shuttered >>> exchange. Next up, removing all of the cushions from the sofa and pulling >>> it away from the wall." >>> >>> >>> >> If that doesn't inspire confidence in you, I don't know what will! >> >> Honestly, I really wonder what would happen if some developers who >> understand financial cryptography and how banks properly work built a real >> bitcoin exchange. Considering how well it has done with incompetents like >> this, I'm betting a properly programmed and vetted system may be quite >> successful. >> >> Too bad I don't have 200,000 BTC to do just that. >> >> -- >> Kelly John Rose >> Twitter: @kjrose >> Skype: kjrose.pr >> Gtalk: [email protected] >> MSN: [email protected] >> >> Document contents are confidential between original recipients and sender. >> > > -- Kelly John Rose Edmonton, AB Phone: +1 587 982-4104 Twitter: @kjrose Skype: kjrose.pr Gtalk: [email protected] MSN: [email protected] Document contents are confidential between original recipients and sender.
