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What is supposed to do with Exchanges? -- LakeBTC Interview by newsBTC

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Isabella

there are something unique points in which I put out an excerpt:

[...]

A few months back somebody asked me there are so many exchanges out there, what makes LakeBTC special. I said:

“We know what we are doing.”

People may think I was joking, but you have to realize that what really matters to a bitcoin exchange is risk management and internal controls. And, you don’t learn these overnight.

[...]

First of all, pricing is the most fundamental cornerstone of the entire infrastructure. [...]

[...]

Security is crucial to all parties and the entire bitcoin industry, [...]

[...]

[...] what makes us different from the other players are that we are all financial professionals, most of us have years of experience in commercial banks and investment banks. They are all familiar with risk management and internal controls. [...]

[...]

As an exchange operator, I’m not in the position of price prediction or investment advice of any kind. It’s subject to conflict of interests or market manipulation in some sense. Our job is to make sure the marketplace is fair, efficient, safe, and liquid.

Besides, I really have no clue where the price will be tomorrow, not to mention in 10 years. If I did, you’ll see me running a hedge fund making tons of money, instead of an exchange earning a very thin commission fee here. A year in the bitcoin world is like 50 years in other capital markets [...]

[...]

LakeBTC Interview by newsBTC http://newsbtc.com/2015/01/16/lakebtc-exclusive-interview/

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  • franckuestein

    ¿What is supposed to do with Exchanges? Easy, IMAO the best thing people can do is just send their coins if they're going to sell it.

    It makes no-sense to use it as a wallet. The main problem is not their security. The main problem is that we think that they're going to be secure and we have to always remember that most of it are centralized exchanges.

    Store cryptocurrencies on your own wallet and send to the exchanges just to sell.

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  • LiamNoah

    LakeBTC seemed to be quite confident for their risk management, it claimed that they are without any loss in accident of egopay hacked. https://www.lakebtc.com/p/7334?locale=en

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