Withdraw limit: There is a daily limit, though it is probably high enough that 99% of our users wouldn't feel it. Can't remember if it is 200 BTC or 500 BTC per day - need to check with my colleague.
Political stability and upcoming regulations: Personally I am not too worried. We have been in contact with lower-level government authorities in different regions since the beginning of this company. So far nobody told us that what we did is illegal. Also, I think Bitcoin is still too small to warrant any abrupt and radical government action. We have a long way to go before the government start to feel threatened. Also, the tech environment in China is pretty freewheeling and argument can be made that it is more encouraging for and tolerant of the kind of permission-less innovation which is what we see ourselves. In the US, people like Ross Ulbricht was sentenced for life. In China, I am not aware a single BTC entrepreneur, not even the bad ones, getting anything even close.
Of course, that cuts both ways.
In the world of Bitcoin, reputation is probably greater source of deterrence than law, at least now and in China, when it comes to preventing people from doing evil. Basically, someone who gets caught once, he will get kicked out of this world forever. Think of the Mark Karpeles. Hard to imagine if this guy establish a Mt. Gox II and this exchange will get non-trivial number of users.
For guys like Wu Gang, what would the benefit be if he abscond with a few thousands user's bitcoins? - let's say that he has the ability just for argument's sake. He is happily married with a lovely seven-year-old daughter. Almost all Chinese bitcoiners know him, many having met him in person, and his pictures are on the Internet. He even publicized the scan of ID card last year when the Chinese users demanded greater transparency following the insolvency of BTC Piggy Bank. As an early miner, he has a sizable stash of BTC of his own - give up a good life and family for an extra couple thousands of BTC? I don't think so. And the company's assets are mostly in mining gear, which wouldn't be possible to resell quickly without catching attention. And it is almost impossible for him to do it alone. He would have to collude with other people, at least the CTO, who is in a more or less similar situation - forty something, stable life and in no urgent need for money. And this prospect is becoming increasingly difficult as the company grew larger.
For me, it is more or less the same. My photos are literally everywhere. Where can I go and do if I suddenly got stupid and steal, say, 1,000 BTC? The idea is just preposterous.
Hi Eric. Thanks. Please be assured I am not trying to paint a bad light of your service. As the Bitcoin world is murky with bad rep scammers ruining the reputation, legitimate potential investors and users might not have a positive view of the bitcoin community. As a bitcoin user with some experience, we should ask difficult and pointed question to remind potential users of the potential risk that one is exposed to, especially if the funds/btcs are moving across national borders. I believe my questions are of valid concern -- political stability. Especially your service is a form of long term investment.
End of the days, potential investors have to decide for themselves what is best for them and what to do with their money (coins).
