Travis,
What is the reason behind the 30 days waiting period before I can withdraw my bitcoin? That is a long time to wait. I might as well sell it and withdraw the cash.
-tb-
Edit: How come I didn't have to wait for LTC withdrawal?
Is this restriction still in place? If so, that would make me more comfortable using CoinMkt for my trading.
I have a concern about having my bitcoins sit at an exchange (while waiting for an opportunity to sell, such as a potential to profit from arbitrage) but am afraid that with an exchange that also deals with alt-coins that I am at risk should the exchange suffer losses due to a successful 51% attack against an alt-coin. This concern exists even if I don't touch any alt-coins because in most jurisdictions, once I deposit my bitcoins with the exchange, I have a liability from the exchange that is no different from anyone else's liability. Specifically, if the exchange suffers losses from a hack attack, 51% attack or any other reason, I would not be guaranteed I could get my bitcoins back. I shared this concern in a blog post:
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http://bitcoinmoney.com/post/53207712103When Mt. Gox announced that they were coming out with Litecoin trading, I asked some questions:
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http://bitbin.it/raw.php?id=R2Fko5IqBut never got an answer other than a response that my "concerns will be considered".
When Kraken announced tat they were supporting alt-currencies, I asked a similar set of questions and got straight answers:
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http://bitcointalk.org/index.php?topic=290799.msg3126507#msg3126507So I would like to describe four specific scenarios that I would like to know what CoinMkt's policy is should they occur:
A.) My CoinMkt exchange account holds only fiat and bitcoins, and I've never traded for altcoins. Would I be exposed to any risk of loss to those funds should there be a successful 51% attack against an altcoin that CoinMkt supports?
B.) I have a balance of an altcoin and fiat, but had none of those altcoins deposited to CoinMkt in any block that was ultimately orphaned as the result of the 51% attack. Would I be exposed to any risk of loss to those funds should there be a successful 51% attack against that altcoin?
C.) I had bitcoins at CoinMkt and I traded them for an altcoin. Following this trade the attacker released blocks that resulted in a double spend such that the that altcoins I received were from the attacker's account (i.e., an altcoin deposited with a transaction that no longer confirms or was double spent). Following the successful 51% attack against the altcoin, do I still have my altcoins that I purchased that I can withdraw (or trade back into Bitcoins)?
D.) In my CoinMkt account I had deposited an altcoin from a block that utimately was orphaned as the result of a successful 51% attack against the altcoin. Before the attack I was able to trade those altcoins for bitcoins which remain in my account. After the successful 51% attack against the altcoin, do I still have the ability to withdraw those bitcoins?
