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Title: Fractional Reserve Exchanges Post by: Hyena on February 07, 2014, 10:45:13 AM It seems that some exchanges are paying interest for holding money in their wallets. Now that we have Proof of Stake mining (Peercoin), an exchange could convert most of their crypto currencies into peercoins so that they would generate PoS blocks. Vircurex has a maximum of 10000 peercoin withdraw limit. Do you think that even Bitstamp and Gox could be secretly holding PPC to generate more income? Gox is having trouble processing the withdraw requests, seems that their hot wallet is out of funds - does that indicate they could be holding PPC behind their users' back?
http://www.silverbearcafe.com/private/03.12/images/fatcats.jpg Title: Re: Fractional Reserve Exchanges Post by: Sukrim on February 07, 2014, 12:40:06 PM If Peercoin had a fixed exchange rate towards BTC, yes, that would be a smart thing to do if you hold a large cold wallet.
Peercoin is not pegged to any other digital asset out there though, so... ::) Title: Re: Fractional Reserve Exchanges Post by: davidgdg on February 07, 2014, 01:49:23 PM Why would anybody store their BTC with an exchange? (except maybe as a float for day-trading)
Title: Re: Fractional Reserve Exchanges Post by: Hyena on February 08, 2014, 12:26:51 AM Why would anybody store their BTC with an exchange? (except maybe as a float for day-trading) I'd ask the same question. People are so used to letting someone else hold their money that it almost comes naturally. |
