Sorry guys. It took us quite a while to figure out what's going on.
And this is not a spam link. I am just trying to tell what was going on in China.
It all started with bitvc's settlement of the 14th Nov weekly contract (7th-14th Nov). 3,032.3848 btc loss (~46%) are to be shared by those users that were profitable in the game. It has caused much arguments in the users.
Earlier this morning, Bitvc released a
statement giving details of this event and a plan trying to comfort the crowd. As per the report, a single user contributed around 2,600 btc loss to the pool.
According to this user's
weibo, he said that he started with around 50btc to the current scale but was busted this time. What is curious about this user is that his ID:100078, a very early user as bitvc adopts registration upon invitation mode in beta stage.
At the end of the statement, bitvc offers users to convert the loss into their transaction fees. That means if they continue to trade on bitvc, they can trade with no fees. But problem is how many coins are to be traded to consume all of these "free" transaction fees.
There has been much speculation and conspiracy theory flying around on 8btc.com already.
All of the above is just my personal interpretation, which are not to be cited as official. You might need to wait for bitvc's response.
