30 May '15, 12pm

OKCoin's response to CZ's lies and desperate nonsense via /r/Bitcoin

CZ serving as “CTO” does not even understand what an audit is. OKCoin.cn has spot margin trading. The margin of BTC and fiat comes via P2P lending. Due to Chinese laws, OKCoin only allows a few big customers to lend BTC and fiat. However, these customers after lending out the coins can still see the assets in its balance as lent out. However the borrower can sell the coins. As such in order to prevent double counting during the audit, the lender has to be removed in order to conduct a proper audit. CZ does not understand at all why the accounts had to be removed and instead says nonsense.

Full article: http://www.reddit.com/r/Bitcoin/comments/37u6ca/okcoins_r...

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