Lending BTC to exchanges. Why?

[bosshyip]

I made noise on several posts about lending liquidity to exchanges (because I found myself doing it involuntarily anyway.)  I got the following question:

  "Also, what benefits do you think holding a larger amount of BTC would have for an exchange? At this stage it just seems like a liability but I'd like to hear your thoughts."

My answers, most of which I pulled straight out of my ass just now:

1)  The primary thing I was thinking of was for futures and options, and that is what Jered (Tradehill) mentioned in his gracious response to my whining.  I think that CampBX was projecting something like a 50% margin which leaves need for some BTC to loan out to the (likely suicidal) trader.

2)  If exchanges have need to keep some sort of escrow in the form of BTC, it could be more convenient to satisfy liquidity needs from a different pool.

3)  The exchange could use it as working capital to fund expansions assuming there are not bound by "don't get high on your own supply" type regulations...if there are any regulations at all in this regard.

4)  An exchange, unlike almost any other entity, could give themselves a pretty healthy discount on conversion to 'official' currencies and they themselves fund different enterprises.

3 and 4 are basically a way for someone who has some excess liquidity in BTC to 'invest' in a way.

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As for myself, I am neither a giant BTC holder, nor a very trusting person.  Before _I_ would do anything like this, I would want to see an established track record and a good bit of visibility.  I cannot see it being worth the time of any exchange, even if they had a need for the funds, to prove that they are trustworthy to my satisfaction.  Not for the kind of money _I_ have to play this angle at the present time.

I also cannot see there being enough value to be had to distribute much back to the 'investor'.  But who knows...I'm not an MBA (and indeed have no business or entrepreneurial experience at all.)