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Bitreserve update..... (self.Buttcoin)

endmathabusenow が 投稿

A month ago there was lively discussion about Bitreserve.

Since then, their leverage ratio has increased to 19.55 to 1 and their capital has dropped $4K to $124,000 even though the price of Bitcoin has increased. This is a higher leverage ratio than allowed for a bank.

I qualify that this is only based on their reported status; they may have other financial resources (e.g. paid in capital, capital commitments from investors).

From June 11:

You are not "over reserved" any more than a typical bank is. If this is your full balance sheet you have about 14.47 to 1 leveraged (i.e. 6.9% of assets as Capital). This is calculated as assets/(assets-liabilities). You have about $128,000 in Capital, each 10% increase in the value of the GBP will blow away $19,000 and each 10% decline in the value of the Bitcoin will blow away $18,000. You are also exposed to the risk of a bank failure. If the bank holding your USD reserves goes under, only $250,000 is insured. You would need other sources of liquidity while you wait to get the rest.

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[–]timparsa 0ポイント1ポイント  (2子コメント)

Our transparency page shows our obligations to members and the assets in our reserve. It's not Bitreserve's balance sheet.

Our reserve assets are segregated from the company's working capital--different institutions, different entities, different operational access.

I don't peer into the fetid crack of buttcoin too often, so apologize for not replying to your previous puffs of flatus. Kind regards, Tim.

[–]ihatepasswords1234 0ポイント1ポイント  (1子コメント)

Then why wouldn't you include them in your "transparency" report? If the assets in your reserve go under would you include the company's working capital as backup or would there be another sorry for your loss among bitcoin startups?

[–]timparsa 0ポイント1ポイント  (0子コメント)

Why wouldn't we include what? Why wouldn't we publish our company assets and liabilities? Short answer: the company balance sheet is irrelevant to the real-time transparency of our cloud money system.

Bitreserve is the world's first real-time transparent financial service. That means we publish a real-time accounting of our obligations to our members and the assets in our full reserve that back those obligations. Bitreserve's balance sheet is irrelevant to this transparency.

I don't know what you mean by "assets in your reserve go under." Assets can change in value relative to each other but an asset cannot "go under."

Banks can go under and do with alarming regularity. The reason they do is because the assets they hold are not sufficient to meet the obligations to their clients. Because Bitreserve operates a full reserve that is held transparently and audited quarterly, there is zero risk that assets in our reserve will not be sufficient to meet our obligations to our members.

Thanks for your interest in BR!