Should litecoinglobal.com operate at a loss for more than 30 days, burnside reserves the option to liquidate and distribute the proceeds.
We don't know the reason why burnside is shutting down his exchanges, but this is plainly not the reason.
The announcement reads, "
As a result of recent changes in the virtual currency regulatory environment, the btct.co and litecoinglobal.com virtual stock market websites will be closing down. The following is our current schedule:"
A reasonable speculation would be that he has either already recieved a cease and desist letter/pressure to shut down, or he or a lawyer feels that there is serious risk for a regulatory agency to shut down Litecoinglobal and btct so rather than waiting, he chose to shut everything down on his terms and hopefully avoid legal issues.
Of course, nothing will be really known until Burnside releases more details, however I believe what I posted to be at least fairly likely and probably not too FUDy.
Can someone tell me whats the difference between "public BTC address" or my "withdraw address"? Since I only have one btc address (stored on usb stick).
Site wants me to have public btc address set but as of right now I have same address in both fields.
Asset issuers can see a list of their shareholder's emails, share counts, and their "public BTC address" so if they need to continue sending you funds even if btct is down, or to liquidate and send funds to their share holders, they can do so without having to contact shareholders and confirm correct addresses and whatnot. Asset issuers however cannot get access to your account to see what Bitcoin address you normally withdraw funds to, so by having a public one, they can get BTC to you more easily.