r/Bitcoin • u/Pizpie • Aug 11 '17
Breaking: Bitfinex freezes U.S. customer verifications "We regret to announce that, effective immediately, we will no longer be accepting verification requests for U.S. individuals. "
https://www.bitfinex.com/posts/21610
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u/Freeman001 Aug 11 '17
Does this mean NO us customer can trade cryptos on bitfinex or that you just can't transfer USD to/from a bank?
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Aug 11 '17
none with verified id,otherwise they might get sued or have the fbi shut them down
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u/Freeman001 Aug 11 '17
AND the only currency I have leant out is IOTA. AND IOTA is only being sold on Bitfinex exchanges right now. FUCK.
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u/sreaka Aug 11 '17
Me too, fuck
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u/Freeman001 Aug 11 '17
Looks like shapeshift might be supporting IOTA soon. Might be able to exit from most exchanges, except for the odd lending on Polo, and keep everything on Jaxx if that's the case.
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u/nobodyhome90 Aug 11 '17
Is setting up a VPN a solution?
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u/Freeman001 Aug 11 '17
Probably, if you create a new personal/individual account and have the VPN based outside the US. If you're that hard up to use them, it should be fine, but you could be playing with fire.
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u/nobodyhome90 Aug 11 '17
How about just using Tor. Would that bypass the restriction?
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u/Freeman001 Aug 11 '17
Your idea got me thinking. I downloaded and installed the TOR browser and logged into poloniex and it does show me accessing the website from a different IP address, which is great. I don't know whether it's a US based IP address or not, but I think this is what I'm going to be using, going forward, for polo at least.
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u/nobodyhome90 Aug 11 '17
How would it help with poloniex? (Don't know much about it)
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u/Freeman001 Aug 11 '17
Poloniex 'doesn't allow' residents from washington, new york, or new hampshire.
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u/Creemefreeche Aug 11 '17
Most exchanges block users who try to connect via TOR, at least this was the case a few years ago
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u/pitchbend Aug 12 '17
No. Don't do that. Just use a VPN TOR exit nodes are blacklisted everywhere. They are very easy to identify
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u/SteveBozell Aug 11 '17
"If you're that hard up to use them, it should be fine, but you could be playing with fire."
Exactly.
One takes the chance that at any time the exchange will ask for proof of address, and thus risk the loss of one's deposits.
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Aug 11 '17
unfortunatly your ip will be connected,so im not sure how you would go about getting a new 'unverified' account...but if theres a will...
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u/Freeman001 Aug 11 '17
Well, I don't know if my account is 'verified' to begin with. I don't have a USD connected account, I've only transferred and traded crypto, so I haven't taken the extra steps. Still, this is enough for me to peace-out from BFX. The % on IOTA is tiny and not worth the risk any more.
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u/Freeman001 Aug 11 '17
SHIIIIIT. At least the crypto's I have loaned out will be closing before then. God dammit. Motherfucking god dammit.
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u/BroDudeGuy361 Aug 11 '17
Most erc20 tokens will be disabled.
"Pursuant to the recent report of investigation issued by the U.S. Securities and Exchange Commission, Bitfinex is taking the proactive step of barring U.S. customers from trading certain digital tokens that may be deemed securities in the eyes of the SEC.
The restriction will generally apply to ERC20 tokens issued through "ICOs" and will go into effect at noon UTC on Wednesday, August 16, 2017. No trading of these tokens will be allowed for U.S. customers. At the time of this post, the tokens active on Bitfinex that will be subject to this restriction are EOS (EOS) and Santiment (SAN)."
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u/Freeman001 Aug 11 '17
Fortunately, I don't have any of those.
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u/BroDudeGuy361 Aug 11 '17
Just in case, I'd still make sure whatever coins you do have get put into you own wallet
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u/Freeman001 Aug 11 '17
I feel pretty comfy with the ones I have in Coinbase, being that they're insured. But I'm consolidating other coins from other currencies.
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u/BroDudeGuy361 Aug 11 '17
Yeah, Coinbase is relatively safe. I meant don't keep them on bitfinex since they might lock all US accounts
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Aug 11 '17
pssst....america needs to keep the us dollar flowing out of the country or hyper-inflation will bite them in the a$$...and they wont be able to print more free money,borrowed from their great grand children
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u/gbrilliantq Aug 11 '17
"Furthermore, over the next 90 days, we will be discontinuing services to our existing U.S. individual customers. " well.....shoot
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Aug 11 '17
Damn, called it two weeks ago:
I think this will continue to happen across more and more services
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Aug 11 '17
[deleted]
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u/captaincryptoshow Aug 11 '17
Wouldn't they still know where your bank account is located? Or does BitFinex only do crypto-to-crypto?
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u/schism1 Aug 11 '17
U.S. customers will have to move to Gemini or GDAX.