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Signed up to the beta and read the article but there is no info on how you will beat the volatility. The simplistic view is that you convert btc to fiat but hol
by celticninja 13y ago
Signed up to the beta and read the article but there is no info on how you will beat the volatility. The simplistic view is that you convert btc to fiat but hold the btc yourself. When price goes down you lose money, when price goes up you make money. I just don't see too many people wanting to protect themselves from drops at the expense of any gains. The article even says there has been a long term upward trend so it makes sense for your business if that holds true. However I expect people will withdraw in times of growth and redeposit during drops, thus reducing your opportunity for profit. Will there be restrictions on withdrawals?
As usual though the problem comes down to needing to store my BTC with you, at that stage I no longer control the BTC and am reliant on your honesty.
Now if you managed to make it work with the Trezor, whereby I control the private keys even if the coins are stored on your system then I can see it gaining some traction.