3 ms·
MtGox isn't supposed to be a fractional-reserve Bitcoin bank, so, modulo server capacity problems and modest transaction delays due to offline Bitcoin storage,
by jasomill 13y ago
MtGox isn't supposed to be a fractional-reserve Bitcoin bank, so, modulo server capacity problems and modest transaction delays due to offline Bitcoin storage, why, in principle, should everyone wanting their Bitcoins at the same time pose a problem?
- rahimnathwani 13y agoYou are right. My point about solvency was a general one (applying to all people and companies) but I overlooked an important point: the Bitcoins entrusted by customers to MtGox do not become MtGox assets. The Bitcoins are always owned by the customer (not owed to the customer). They are less like bank deposits than they are the contents of safety deposit boxes at a bank branch.