it's official, I hate bitfunder
bitfunder: "we're paying our lawyers to find out how to make this a legitimate business"
btct: "fiat? what fiat?"
I think the second approach is best.. it only gets messy when you convert to $
You've misunderstood. Bitfunder don't work in fiat and nor do btct. Unless you meant the fiat world, which you can't ignore forever due to securities legislation I'm afraid.
However, bitfunder are working their nuts off, apparently, to keep the risk of being shut down to a minimum and becoming more compliant long term. Btct are a decent exchange but, having done hefty research and read their posts, I think they're in the more precarious position of the two (get those servers moved!).
Both exchanges take care to ensure share ownership is published and both seem well looked after outside of this issue. I don't know anything about havelock.