Thanks for the warning, I never dared to keep much money in liberty reserve due to the fact that it always seemed high risk to me. Especially considering how e-gold got totally destroyed by the US government. It's a shame all these great currencies ends up with the same sad destiny, but at the same time I guess that's great news for bitcoin
It's almost like if Bitcoin was a huge company using government regulations to shut down competition
If MtGox accepted bank wires directly that would alleviate the risk of Liberty Reserve going broke. He should also let clients move dollars between accounts for free. He could run his own Liberty Reserve-like system inside of MtGox.
Maybe I misunderstood this, but I sent MtGox a bank wire a few days ago? And even though LR might be very risky now, even the bank account is at risk, who knows when it will be suspended? I assume mtgox doesn't possess any license to do this kind of business, so it's all a grey zone.
A solution to this could possible be that he create some kind of exchange market between LRUSD and the USD Finland Bank to allow investors to decide where they can take risk. Or even better, create bank accounts in different countries to hedge against the political climate in any given country. Well, the best thing would obviously be to find a country where you can actually run a legitimate exchange, if anyone know of such place please do let me know. And if you have to pay a million dollar license fee it's out of the question.
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