In discussion I have called Roman out a couple times.  He has not responded.

Look for a thread in scam accusations next weekend.

Let's give Roman a chance to reply to my questions in service discussion.

As for the rest, wait and see if I actually make a Scam post.

Just wanted to relay my recent experience with Bitfloor:

I am one of the customers that have BTC being held due to the hack (about 61 BTC..around $2900 in today's terms..     )

Over this last weekend I decided to give Bitfloor another chance and sold about $850 worth of BTC and initiated an ACH withdrawal.

The transfer went smoothly and the money was in my bank account today.

Although I do wish Roman would be a bit more vocal about what is going on, at least to those with BTC being held, this experience has been a big first step in Bitfloor earning my trust back.


Hopefully the recent BTC rally will earn Bitfloor enough volume to release some more of the held BTC..especially in today's market.

 
 

I spoke with Roman the other week and he pointed out that this actually has ups and downs. The rally has helped volume on bitfloor, but it's also raised the dollar cost of buying coin, which is exactly what bitfloor has to do each time he makes a payment. (fees are earned in dollars)

Fuck.  We'll never see them all if he holds fees in dollars and then converts when he pays out.

Everyone seems to be talking like bitcoins will never go down again. Sounds a bit like folks were talking about houses a few years back.. :-P

I guess on the bright side it's sorta like a hedge; if the price of bitcoins goes down, you get more of your bitfloor coins faster .

Your point?

The company has a debt denominated in BTC.  The hedge would be to hold any profits in BTC.  Having a debt in BTC and holding assets in USD isn't a hedge, it is a short position.   Imagine if hypothetically Bitcoin rose to $500 USD per BTC.  Suddenly the company would owe $15M USD worth of debt.  I had hoped that bitfloor would seek outside investors make a deal to fix the debt to USD offer something like a 33% haircut, 33% repaid upfront, and 33% repaid over next x years.  As it is holding USD and watching the BTC denominated debt skyrocket is just a stone around the neck of bitfloor.

+1