you guys are way overestimating an exchange that remains mostly anonymous out of china and will have no regulatory repercussions if they run away with everyone's money.
Strictly, BTER is the trading name of Maxcloud Incorporated, which so far as I know is a company registered with the Register of Companies in the British Virgin Islands (that is, it is a company under the jurisdiction of the (British) Crown in the right of the Government of the BVI). The BVI is a British Territory and English law applies, resulting in final appeals being heard by the Privy Council in London.
Bearer shares in BVI companies came to an end in 2010. Most likely, there is a trust structure in place whereby the BVI company merely holds shares in further corporate entities which in turn own interests in the BTER exchange. It is possible to secure International Freezing Injunctions in the High Court of the British Virgin Islands and to enforce those Freezing Injunctions in other EC states (including Switzerland) pursuant to the Brussels & Lugano Convention. In other words, the trust structure in the BVI could be frozen on an ex parte basis (without notice first being provided to the directors or shareholders of the BVI trust entity).
As bearer shares are extremely unlikely (having been redundant in the BVI since December 2010), the structure may be relatively transparent in comparison with complex Cayman Island/BVI/Liechtenstein smorgasbords.
No SPA (sale purchase agreement) of the BVI company would be possible in the absence of Certificates of Good Standing from the Registrar of Companies in the BVI. In other words, BTER will probably resolve the NXT fiasco due to the fact they could easily be targeted by litigators if for any reason they fail to do so.
If they did pull a stunt, the BVI trustee likely to be running their company for them would have to face the music as well. But I do not think BTER intend to dp anything other than honour their comittments. They are a major Crypto exchange and have a good international reputation. However, you should make your own minds up and decide what levels of risk you are prepared to take. Without risk, reward is often minimal. With high risk, reward can be greater. Dont let other people do your thinking for you.
All in all, there is some risk but it is perhaps not as high as some others maintain. I am fairly chillaxed about it all and for the avoidance of doubt I am fully invested on BTER and in XCR. Who dares wins. Enjoy the trading opportunities when the wallet goes live, is how I see it.
