minerpumpkin
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A pumpkin mines 27 hours a night


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January 29, 2015, 04:20:37 PM

Did you mean "fictional reserves"?

If you don't hold the keys then yes, fictional, fractional, make-believe, whatever, they're not coins, they're just numbers. All these coins dumped in the last few days with no significant sign on days destroyed or transaction volume... some of them are nothing more than numbers and folks will only know which when (not if, when) there's another Goxing. Move to exchanges that operate transparently if you don't want it to be you getting Goxed.

It doesn't matter if you hold the keys, should the exchange also hold the keys. Yeah, you need multi-sigs in order for that to work. I think Stamp is going in the right direction concerning this but ultimately it will only be due to more competition that exchanges truly evolve. We're at the beginning of it, I believe.