You are viewing a single comment's thread from:
RE: BitMEX dumped their BCH and credited all users!
Certainly they didn't have the BCH to begin with because they didn't have all the BTC that they SOLD. (Fractional Reserve Crypto and part of their business plan - CoinBase too) They are exposed by their actions. It happens. When we are caught cheating our friends and clients we have egg on our face and it is embarrassing for everyone. The only thing to do at that point is admit it and try determinedly to earn their trust back.
Remember Hanlon's razor and all that ... but it's not even needed to include "stupidity" in the equation, it's perfectly reasonable that it takes time and resources to move tons of liquidity from cold storage to the exchanges.
Excellent point, and thanks for Hanlon's razor.
In this case, the most sensible thing for them would be to include BCH in their trading platform and yield the BCH to the customers there. Most likely many customers wouldn't withdraw it.
Seems equally valid.
The actual truth of the matter is beyond my pay grade. The only thing I might add is the observation that when, due to circumstances, we find we have neglected, shortchanged or actually cheated our friends and clients in the marketplace we have to earn their trust back one step at a time. But when we govern we are not usually held accountable for our actions and the neglect, injustice and hypocrisy can reach astronomical proportions. When corrected early by the Invisible Hand, a tiny spark cannot become a devastating blaze.