way to take me out of context what kind of bullshit is that?
I have never offered to hold the forums money. I dont want it and anyone that does is suspect.
Taken out of context? The thread is titled "Looking for people to store some of the forum's money". The OP states:
I am holding too much money for the forum. This is contrary to the forum's otherwise decentralized structure. I'd like to get some extremely trustworthy people to hold smaller chunks of the forum's money (maybe 250-500 BTC per person).
...
If you're interested, post here with how much you would charge for this service and what your reserve policy would be.
The eleventh reply, made by you states:
Sure I will hold 500 btc in storage with out a full reserve requirement. I think you need 100% reserve but can be held in any accepted currencies in predetermined ratios.
Were you not offering to hold 500 btc in storage without a full reserve requirement? If not, my apologies for the confusion. It appeared to me as though you were offering to hold 500 btc in storage without a full reserve requirement in response to a thread created to find people to hold btc in storage without a full reserve requirement.
While we're here, full reserve means holding 100% of something someone gives you. If person A gives the bank $1, and the bank decides to purchase a pack of gum, holding the pack of gum and change as the deposit, the bank is not holding person A's deposit in full reserve.
Similarly, If a forum member is given
BTC500 to hold in full reserve and buys $500, keeping the remainder
BTC along with the $, they are not holding the original deposit in full reserve.
So when you say you think the forum should hold all funds in 100% reserve but held in any accepted currencies are you suggesting they leave the deposit in
BTC form, or hedge the deposit by purchasing another accepted form of currency?
No I was not offering to hold the forums funds and i am aware of what a reserve ratio is. I was pointing out that people where offering to hold the forums money and to not even keep all of it on hand for a fee
Shit is so sketch
Show Posts
