re: arbitrage - where is the profit?
Paperclip/Jaw,
As you may or may not know, I am based overseas in the Middle East (Qatar) atm. The postage from this country is pretty third world, upwards of 10 days, and unreliable at that.
In light of this, I contacted the MD via the email address on Tox website (no address for the company secretary) to ask about depositing my convesrion funds via direct deposit. He gave me the contact details for the accontant and said it was no problem.
Having said that, there was a delay in his reply (which he apologized for). If anyone wants to rely on this method, I would still recomend a reasonable margin for safety i.e. do not try to get it done on the 31st of January. You knever know when your email, the bank's website, the Tox server or any of the other systems may be down, not to mention the accountant being ill on the last day or some such.
It may be that if the funds are not received by them by 4pm on the 31st, no matter who's fault etc, they may not be able to convert your holding, even if they are sympathetic. This translates to a 100% loss, down from whatever % profit you are showing right now.
Regards,
Keith.
TOX Price at posting:
0.0¢ Sentiment: None Disclosure: Held
