Topic: Angry threat from BitStamp. Put myself in danger or they'll steel my money. (Read 13677 times)
March 19, 2015, 02:55:06 PM
Am happy I do not use their services. I was lucky enough to register but never do anything on the account after reading so much horror stories like this past and present. A lot of exchanges are going this way iver validate account ort forfeit and be suspended until account is confirmed. I only trade on sites now days that do not require documents only unless am dealing with fiat money an not crypto.
March 16, 2015, 04:58:09 PM
I had to go threw the same thing wot makes u different than the rest of us for all i know u could be isis
stop moaning and get ur shit together yeth verification is a fucking nightmare but everyone hath to do it so shut up and get on with it
stop moaning and get ur shit together yeth verification is a fucking nightmare but everyone hath to do it so shut up and get on with it
February 10, 2015, 03:34:14 PM
So alan2here you want to use BitStamp services, but you can't follow their terms. Go ahead and close your BitStamp account and trade your bitcoins elsewhere. BitStamp isn't required to please you and it's not a human right. You like them, you use them. You don't like them, you don't use them. What's the problem? Why is BitStamp required to follow YOUR rules, instead of theirs? Why are you so special?
I guess alan2here is mad cause they changed rules, not let him know and now they even dont allow him to withdraw funds. I agree with alan, that is thievery and scam like. Even Banks dont act like that.
I've heard of banks changing their rules, not letting bitcoiners know, and then not allowing them to withdraw funds.
I thinks banks are legally required to inform their users of any such thins. Atleast I do get emails from my bank if any changes in rules happen.
February 09, 2015, 04:20:55 PM
So alan2here you want to use BitStamp services, but you can't follow their terms. Go ahead and close your BitStamp account and trade your bitcoins elsewhere. BitStamp isn't required to please you and it's not a human right. You like them, you use them. You don't like them, you don't use them. What's the problem? Why is BitStamp required to follow YOUR rules, instead of theirs? Why are you so special?
I guess alan2here is mad cause they changed rules, not let him know and now they even dont allow him to withdraw funds. I agree with alan, that is thievery and scam like. Even Banks dont act like that.
I've heard of banks changing their rules, not letting bitcoiners know, and then not allowing them to withdraw funds.
Big world, absolutely possiblle somewhere in 3rd world but in Western democraties you would most possibly sue that bank and win. Anyway, that is one of reasons we have Bitcoin now so not any gov/banker bump can take your money. I know if you dont own keys you own shiat, but anyway we should make better system than govs and banks or we lose one of reasons we have Bitcoin in first place.
You're right, the US is a third world country and not a Western democracy.
Or maybe ppl dont read all small letters in their contract in USA, idk. Anyway, even if in USA banks dont have to honour their contracts, we should build better system, right?
February 09, 2015, 03:45:15 PM
So alan2here you want to use BitStamp services, but you can't follow their terms. Go ahead and close your BitStamp account and trade your bitcoins elsewhere. BitStamp isn't required to please you and it's not a human right. You like them, you use them. You don't like them, you don't use them. What's the problem? Why is BitStamp required to follow YOUR rules, instead of theirs? Why are you so special?
I guess alan2here is mad cause they changed rules, not let him know and now they even dont allow him to withdraw funds. I agree with alan, that is thievery and scam like. Even Banks dont act like that.
I've heard of banks changing their rules, not letting bitcoiners know, and then not allowing them to withdraw funds.
Big world, absolutely possiblle somewhere in 3rd world but in Western democraties you would most possibly sue that bank and win. Anyway, that is one of reasons we have Bitcoin now so not any gov/banker bump can take your money. I know if you dont own keys you own shiat, but anyway we should make better system than govs and banks or we lose one of reasons we have Bitcoin in first place.
You're right, the US is a third world country and not a Western democracy.
February 09, 2015, 03:27:57 PM
So alan2here you want to use BitStamp services, but you can't follow their terms. Go ahead and close your BitStamp account and trade your bitcoins elsewhere. BitStamp isn't required to please you and it's not a human right. You like them, you use them. You don't like them, you don't use them. What's the problem? Why is BitStamp required to follow YOUR rules, instead of theirs? Why are you so special?
I guess alan2here is mad cause they changed rules, not let him know and now they even dont allow him to withdraw funds. I agree with alan, that is thievery and scam like. Even Banks dont act like that.
I've heard of banks changing their rules, not letting bitcoiners know, and then not allowing them to withdraw funds.
Big world, absolutely possiblle somewhere in 3rd world but in Western democraties you would most possibly sue that bank and win. Anyway, that is one of reasons we have Bitcoin now so not any gov/banker bump can take your money. I know if you dont own keys you own shiat, but anyway we should make better system than govs and banks or we lose one of reasons we have Bitcoin in first place.
February 09, 2015, 02:55:15 PM
So alan2here you want to use BitStamp services, but you can't follow their terms. Go ahead and close your BitStamp account and trade your bitcoins elsewhere. BitStamp isn't required to please you and it's not a human right. You like them, you use them. You don't like them, you don't use them. What's the problem? Why is BitStamp required to follow YOUR rules, instead of theirs? Why are you so special?
I guess alan2here is mad cause they changed rules, not let him know and now they even dont allow him to withdraw funds. I agree with alan, that is thievery and scam like. Even Banks dont act like that.
I've heard of banks changing their rules, not letting bitcoiners know, and then not allowing them to withdraw funds.
February 09, 2015, 09:09:23 AM
So alan2here you want to use BitStamp services, but you can't follow their terms. Go ahead and close your BitStamp account and trade your bitcoins elsewhere. BitStamp isn't required to please you and it's not a human right. You like them, you use them. You don't like them, you don't use them. What's the problem? Why is BitStamp required to follow YOUR rules, instead of theirs? Why are you so special?
I guess alan2here is mad cause they changed rules, not let him know and now they even dont allow him to withdraw funds. I agree with alan, that is thievery and scam like. Even Banks dont act like that.
January 17, 2015, 10:44:27 AM
This is absolutely observed, don't let them push you around. You have rights to!
January 16, 2015, 04:36:19 PM
www.zdnet.com/article/bitstamp-exchange-reopens-doors-after-5m-hack/
Every exchange has a series of huge thefts before they go bust, I'd like an apology from all those suggesting that BitStamp would be magically different.
So do they have enough BTC now to allow a run on the exchange, who knows.
Oh dear your identity has been stolen too, maybe, who knows, who cares, certainly not BitStamp.
Every exchange has a series of huge thefts before they go bust, I'd like an apology from all those suggesting that BitStamp would be magically different.
So do they have enough BTC now to allow a run on the exchange, who knows.
Oh dear your identity has been stolen too, maybe, who knows, who cares, certainly not BitStamp.
October 27, 2014, 01:17:16 PM
I don't know why people think this a problem witn the exchanges. If you don't like KYC/AML laws then you need to tell this to your government, not the exchanges. They do not make the rules and they are not going to violate the law so you can keep you 0.5BTC secret.
True , but if they allow you to deposit without verification then they have to let you withdraw in a reasonable amount of time as well if the rules change.Did Bitstamp have those terms the instant it opened for business? Did Bitstamp have those terms the instant the OP signed up?
Also the message in the OP says that the OP was warned multiple times about this happening yet the OP still continued to keep funds at bitstamp
Legally, not ethically moot.
The message in the OP says "I have not been able to withdraw my funds for some time before this notice."
So they changed the terms with no notice to lock up his funds. Legal, NOT ethical.
October 27, 2014, 05:20:22 AM
I don't know why people think this a problem witn the exchanges. If you don't like KYC/AML laws then you need to tell this to your government, not the exchanges. They do not make the rules and they are not going to violate the law so you can keep you 0.5BTC secret.
True , but if they allow you to deposit without verification then they have to let you withdraw in a reasonable amount of time as well if the rules change.Did Bitstamp have those terms the instant it opened for business? Did Bitstamp have those terms the instant the OP signed up?
Also the message in the OP says that the OP was warned multiple times about this happening yet the OP still continued to keep funds at bitstamp
October 26, 2014, 07:26:07 PM
So alan2here you want to use BitStamp services, but you can't follow their terms. Go ahead and close your BitStamp account and trade your bitcoins elsewhere. BitStamp isn't required to please you and it's not a human right. You like them, you use them. You don't like them, you don't use them. What's the problem? Why is BitStamp required to follow YOUR rules, instead of theirs? Why are you so special?
October 26, 2014, 03:24:55 AM
Gox - Customer Data, Funds, Code
https://bitcointalksearch.org/topic/mtgox-database-leaked-508762
http://www.reddit.com/r/Bitcoin/comments/2081as/analysis_of_the_leaked_mtgox_database/
http://techcrunch.com/2014/03/03/mt-gox-source-code-leaked-by-hackers-along-with-team-information-customer-data/
Coinbase - Customer Data
http://www.reddit.com/r/Bitcoin/comments/21wx59/coinbase_emails_and_names_leaked/
http://arstechnica.com/tech-policy/2013/04/bitcoin-wallet-service-coinbase-faces-phishing-attacks-after-data-leak/
Bitcoinica - Funds
https://en.bitcoin.it/wiki/Bitcoinica
BitScalper - Customer Passwords
https://bitcointalksearch.org/topic/bitscalper-passwords-have-been-leaked-63659
More minor leaks
http://www.reddit.com/r/Bitcoin/comments/2hrg8h/bitfinex_privacy_leak_other_users_account/
There are more I cannot find links for, I've also not included the internal thefts in other exchanges, the Russian BTC forum leak, the US gov BTC related auction leak etc... And I don't know what was carefully sold instead of leaked to everyone.
Not my life that is in danger, just at a few dozen hours of it.
If it looks like you, let's say defrauded hundreds of pensioners, because your leaked legal documents were used in the frauds, can you be sure those peoples families won't react badly?
Can you imagine if you had to keep changing supermarkets like this, Asda, Tesco, Liddle, etc... With all Thease sorts of things happening to each.
Can you imagine me believing that "this time, the 6th time, it's different"?
Someone here has such a low opinion of banks, they think there is a similar level of safety.
And because it's apparently so easy to forget I seemingly need it in every post. I don't care about conventional privacy concerns, they can make publicly available all sorts of information about me as much as they like, but not legal documents.
https://bitcointalksearch.org/topic/mtgox-database-leaked-508762
http://www.reddit.com/r/Bitcoin/comments/2081as/analysis_of_the_leaked_mtgox_database/
http://techcrunch.com/2014/03/03/mt-gox-source-code-leaked-by-hackers-along-with-team-information-customer-data/
Coinbase - Customer Data
http://www.reddit.com/r/Bitcoin/comments/21wx59/coinbase_emails_and_names_leaked/
http://arstechnica.com/tech-policy/2013/04/bitcoin-wallet-service-coinbase-faces-phishing-attacks-after-data-leak/
Bitcoinica - Funds
https://en.bitcoin.it/wiki/Bitcoinica
BitScalper - Customer Passwords
https://bitcointalksearch.org/topic/bitscalper-passwords-have-been-leaked-63659
More minor leaks
http://www.reddit.com/r/Bitcoin/comments/2hrg8h/bitfinex_privacy_leak_other_users_account/
There are more I cannot find links for, I've also not included the internal thefts in other exchanges, the Russian BTC forum leak, the US gov BTC related auction leak etc... And I don't know what was carefully sold instead of leaked to everyone.
Not my life that is in danger, just at a few dozen hours of it.
If it looks like you, let's say defrauded hundreds of pensioners, because your leaked legal documents were used in the frauds, can you be sure those peoples families won't react badly?
Can you imagine if you had to keep changing supermarkets like this, Asda, Tesco, Liddle, etc... With all Thease sorts of things happening to each.
Can you imagine me believing that "this time, the 6th time, it's different"?
Someone here has such a low opinion of banks, they think there is a similar level of safety.
And because it's apparently so easy to forget I seemingly need it in every post. I don't care about conventional privacy concerns, they can make publicly available all sorts of information about me as much as they like, but not legal documents.
October 25, 2014, 01:49:37 PM
I don't know why people think this a problem witn the exchanges. If you don't like KYC/AML laws then you need to tell this to your government, not the exchanges. They do not make the rules and they are not going to violate the law so you can keep you 0.5BTC secret.
True , but if they allow you to deposit without verification then they have to let you withdraw in a reasonable amount of time as well if the rules change.Did Bitstamp have those terms the instant it opened for business? Did Bitstamp have those terms the instant the OP signed up?
October 25, 2014, 12:22:03 PM
I don't know why people think this a problem witn the exchanges. If you don't like KYC/AML laws then you need to tell this to your government, not the exchanges. They do not make the rules and they are not going to violate the law so you can keep you 0.5BTC secret.
True , but if they allow you to deposit without verification then they have to let you withdraw in a reasonable amount of time as well if the rules change.The exchange accepts your funds under the assumption that you will submit these documents (as you agreed to do so) in order for you to be able to trade on their marketplace.
I would say it would be a very different issue if the OP had sent KYC/AML documents to bitstamp and for whatever reason they were rejected.
I think you are correct from a moral standpoint, however from a legal standpoint it is much less clear.
October 25, 2014, 05:38:19 AM
It sucks that they don't allow you access to your funds after suspending account activity just because the account isn't verified, but the process on Bitstamp is actually very easy, compared with other non-Bitcoin related services that I had to get verified for. There is nothing wrong with getting verified, withdrawing your funds and then closing your account to take your business elsewhere. And I doubt getting yourself verified on Bitstamp would put your life in danger. Seems rather paranoid. :/
October 21, 2014, 07:39:03 AM
I don't know why people think this a problem witn the exchanges. If you don't like KYC/AML laws then you need to tell this to your government, not the exchanges. They do not make the rules and they are not going to violate the law so you can keep you 0.5BTC secret.
True , but if they allow you to deposit without verification then they have to let you withdraw in a reasonable amount of time as well if the rules change. 
October 20, 2014, 10:18:25 PM
It's unfortunate, but the OP basically agreed to whatever BitStamp wants when he relinquished control of his money to them.
Now he is in a position where he has to either agree with their demands or fight them in an attempt to regain control of his money.
I find it shocking how many people, when presented with money that gives the user total control, are so willing to give that up for whatever reason.
The time to worry about this was before sending them money.
Now he is in a position where he has to either agree with their demands or fight them in an attempt to regain control of his money.
I find it shocking how many people, when presented with money that gives the user total control, are so willing to give that up for whatever reason.
The time to worry about this was before sending them money.
Correct answer.^^
By now I would think everyone posting on this forum should understand exchanges can't be trusted. Now if you're a beginning user lured to an exchange website by an advert or something that's different.
October 20, 2014, 11:06:28 AM
I don't know why people think this a problem witn the exchanges. If you don't like KYC/AML laws then you need to tell this to your government, not the exchanges. They do not make the rules and they are not going to violate the law so you can keep you 0.5BTC secret.
October 20, 2014, 10:49:04 AM
You might be right, but I'm not convinced.
Why do you think BitStamp is more competent and less crooked than all the others were? Apart from maybe having a nicer looking website.
And there intention is clear, has anyone here collected all these docs and got them sent, and had BitStamp acknowledge them and got there funds back?
Why do you think BitStamp is more competent and less crooked than all the others were? Apart from maybe having a nicer looking website.
And there intention is clear, has anyone here collected all these docs and got them sent, and had BitStamp acknowledge them and got there funds back?
October 19, 2014, 04:03:12 PM
I would say that you would have the same level of identity theft risk giving money to bitstamp as you would giving your identity documents to your bank (that you had to give when you opened your bank accounts). I would suggest to provide identity documents (assuming you were not somehow laundering money through bitstamp, in which case I think you should eat the losses as you would be facing much stiffer penalties) to bitstamp and accept the fact that AML/KYC regulations are a thing of reality
October 19, 2014, 04:25:59 AM
See my update to the original post.
October 19, 2014, 01:18:40 AM
It's sad because I thought Bitstamp was originally one of the trustworthy ones, but it looks like the U.S has finally caught up with them and started making demands.
BitStamp were great, till last year and their disgusting KYC/AML. Since then I have not used them.You do realize that KYC (Know Your Customer, where a bank will --secretly if it wants--report you to the Feds in Detroit if they suspect you may be laundering money) does not have to be disclosed to the customer by the bank? Meaning if it wants to, a bank can make a secret report about you to the Feds? (I have read the regulations) So BitStamp did you a favor by telling you up front they were going to comply with KYC, giving you time to withdraw. In fact in the real world several times I realized my bank was asking me questions--at a different branch where I normally bank--for KYC purposes, without of course telling me why. It's similar to the reason the airport security guard sometimes engages you in light-hearted "banter": they are not trying to be friendly or waste your time, but are trying to see if your responses sound normal or if you seem nervous.
legendary
Activity: 1862
Merit: 1011
Reverse engineer from time to time
October 19, 2014, 01:10:17 AM
It's sad because I thought Bitstamp was originally one of the trustworthy ones, but it looks like the U.S has finally caught up with them and started making demands.
BitStamp were great, till last year and their disgusting KYC/AML. Since then I have not used them. October 19, 2014, 01:05:27 AM
I don't see any mention of the OP not being able to withdraw any balance until then. All the email from stamp says is that the OP has 28 days to provide identification or all the funds in the account will be forfeited. Since it does not say anything to the contrary I would assume that they would allow you to continue to trade, deposit and withdraw until then (IDK why anyone would want to trade or deposit).
The email also says that the OP was given multiple warnings prior to this message
Quite right. And in the real world, in a foreign bank I had the same thing happen. The bank said that due to recent money-laundering laws, I had to provide more ID for myself or I could not withdraw my money, which I had placed there with little ID years before. I tried to fight them but in the end I had to provide the ID.
October 18, 2014, 08:39:23 PM
They can't change their terms unilaterally and seize your coins - that's outright theft. 
The terms of almost every business is that the business can change the terms by providing your notice of the change and your continued use of their service is acceptance of the change in terms. The only recourse the OP has is it withdraw his money from BitStamp and trade "locally"
Thought OP said the terms changed so he can't even do that.
The email also says that the OP was given multiple warnings prior to this message
October 18, 2014, 06:30:06 PM
Coinbase is pretty much the same, they monitor transactions and will ban accounts if you send coins to a gambling website (or any address owned by a website considered illegal in the USA). At least they allow baned costumers to withdraw all their funds before permanently closing their account.
Innovation and strict regulation are two things that can't go together, especially in the case of bitcoin. It's pretty sad that the inovation bitcoin can offer isn't appreciated enough by USA authorities to create more loose policies. The amount of entrepreneurship that could emerge through bitcoin in the USA is incredible. They have so much to offer to the rest of the world, and it's a pitty to see things like this happening. To mee it feels like such regulations are pushing innovation away from the US, therefore making bitcoin's growth and spread slower.
Innovation and strict regulation are two things that can't go together, especially in the case of bitcoin. It's pretty sad that the inovation bitcoin can offer isn't appreciated enough by USA authorities to create more loose policies. The amount of entrepreneurship that could emerge through bitcoin in the USA is incredible. They have so much to offer to the rest of the world, and it's a pitty to see things like this happening. To mee it feels like such regulations are pushing innovation away from the US, therefore making bitcoin's growth and spread slower.
October 18, 2014, 06:10:11 PM
I have a small holding, but I am still angry. I'm in England.
As someone who is quite pro ID, I don't even mind concepts such as ID cards.
But I'm furious at this companies extreme arrogance and clear shortsightedness, if not clearly criminal intent, the tone as much as the content. It doesn't say "our hands are tied", but instead "your clearly up to no good, how dare you", how dare they.
As someone who is quite pro ID, I don't even mind concepts such as ID cards.
But I'm furious at this companies extreme arrogance and clear shortsightedness, if not clearly criminal intent, the tone as much as the content. It doesn't say "our hands are tied", but instead "your clearly up to no good, how dare you", how dare they.
Quote
Dear Bitstamp customer,
This is your Final Notice. We have determined that despite you being notified of our change in Bitstamp's Verification Policy more than a year ago on 4th September 2013 and despite our repeated entreaties and warnings to you, you have not yet verified your Bistamp account, resulting in our having to suspend your activity.
Please be advised: We cannot allow unverified customers to trade or do any business whatsoever at Bitstamp, as doing so would violate our AML and KYC policies. See: https://www.bitstamp.net/aml-policy/
As you are holding a balance with Bitstamp, we kindly ask you to verify your account within 28 days of receiving this notification.
If you do not do so, you will have breached our Agreement and failed to remedy your breach. This will automatically result in the following: your account will be terminated, you will lose access rig hts, and you will no longer be considered a Bitstamp customer.
Any remaining balance in your account will be subject to immediate seizure by and forfeiture to regulatory authorities.
Please take these simple verification steps immediately. You can verify your Bitstamp account here: https://www.bitstamp.net/account/verify/ or contact our support at [email protected]
Best regards,
Bitstamp Team
This is your Final Notice. We have determined that despite you being notified of our change in Bitstamp's Verification Policy more than a year ago on 4th September 2013 and despite our repeated entreaties and warnings to you, you have not yet verified your Bistamp account, resulting in our having to suspend your activity.
Please be advised: We cannot allow unverified customers to trade or do any business whatsoever at Bitstamp, as doing so would violate our AML and KYC policies. See: https://www.bitstamp.net/aml-policy/
As you are holding a balance with Bitstamp, we kindly ask you to verify your account within 28 days of receiving this notification.
If you do not do so, you will have breached our Agreement and failed to remedy your breach. This will automatically result in the following: your account will be terminated, you will lose access rig hts, and you will no longer be considered a Bitstamp customer.
Any remaining balance in your account will be subject to immediate seizure by and forfeiture to regulatory authorities.
Please take these simple verification steps immediately. You can verify your Bitstamp account here: https://www.bitstamp.net/account/verify/ or contact our support at [email protected]
Best regards,
Bitstamp Team
Quote
I will not send BitStamp authenticating, and/or legal documents, by post or other means, who will have the opportunity regardless of policy to copy, sell, store or lose these documents.
It should be obvious that Bitcoin Exchanges tend to disappear abruptly, become the victims of theft internally, bankrupt themselves inexplicably while making large profits, or similar, and that I cannot trust BitStamp, regardless of the differences to other companies.
I have never been offered any less dangerous means of identifying myself.
I consider, regardless of the legal position, effectively abruptly freezing my account when I was unable to move my coins to another exchange and now threatening loss of my coins if I do not perform this clearly dangerous act, to be an unreasonable threat and theft of my property, and take particular offence at the tone of this email given that I have wished to take my custom elsewhere for a significant amount of time and would have done so immediately on BitStamps abrupt change of policy if BitStamp had not prevented me doing so.
I feel forced to make a complaint officially, regardless of it I can report this as an incident to the authorities.
It should be obvious that Bitcoin Exchanges tend to disappear abruptly, become the victims of theft internally, bankrupt themselves inexplicably while making large profits, or similar, and that I cannot trust BitStamp, regardless of the differences to other companies.
I have never been offered any less dangerous means of identifying myself.
I consider, regardless of the legal position, effectively abruptly freezing my account when I was unable to move my coins to another exchange and now threatening loss of my coins if I do not perform this clearly dangerous act, to be an unreasonable threat and theft of my property, and take particular offence at the tone of this email given that I have wished to take my custom elsewhere for a significant amount of time and would have done so immediately on BitStamps abrupt change of policy if BitStamp had not prevented me doing so.
I feel forced to make a complaint officially, regardless of it I can report this as an incident to the authorities.
This is the reason I always recommend P2P exchanges like LocalBitcoins over real time exchanges like BitStamp/BTC-e.
October 18, 2014, 02:49:43 PM
They can't change their terms unilaterally and seize your coins - that's outright theft.
The terms of almost every business is that the business can change the terms by providing your notice of the change and your continued use of their service is acceptance of the change in terms. The only recourse the OP has is it withdraw his money from BitStamp and trade "locally"
Thought OP said the terms changed so he can't even do that.
October 18, 2014, 01:56:13 PM
They can't change their terms unilaterally and seize your coins - that's outright theft.
The terms of almost every business is that the business can change the terms by providing your notice of the change and your continued use of their service is acceptance of the change in terms. The only recourse the OP has is it withdraw his money from BitStamp and trade "locally"
The OP would not be giving any information that is not available to any financial institution that he does business with
October 18, 2014, 09:43:32 AM
The other big exchange is dodgy, but at least they have better rates.
October 17, 2014, 11:53:04 PM
Bitstamp's public statement regarding verification was unsettling. Are they trying to chase business away?
Being verified does not secure your funds. They can revoke verification anytime they like for whatever reason. It's their sandbox. I've danced this dance elsewhere.
I feel for the OP. Its a case of "swallow pride" or lose money I guess.
Being verified does not secure your funds. They can revoke verification anytime they like for whatever reason. It's their sandbox. I've danced this dance elsewhere.
I feel for the OP. Its a case of "swallow pride" or lose money I guess.
October 17, 2014, 09:19:47 PM
They can't change their terms unilaterally and seize your coins - that's outright theft.
Did they though? I don't know what their terms originally were, but I guarantee they had a clause stating they could require verification at any time for any reason, and keep the customer's assets until they comply. This is why you're supposed to scroll all the way to bottom before clicking "agree". 
October 17, 2014, 06:16:02 PM
It's sad because I thought Bitstamp was originally one of the trustworthy ones, but it looks like the U.S has finally caught up with them and started making demands.
October 17, 2014, 05:19:30 PM
They can't change their terms unilaterally and seize your coins - that's outright theft.
October 17, 2014, 04:07:35 PM
Then withdraw your money, go elsewhere, and likely BitStamp, as per their normal business procedures, will delete their records in due time and nobody will ever know you were a customer there.
The due time is at least 5 years according to the agreement. I understand that exchanges want to comply with the law but it's plain wrong to allow people to deposit without verification and then forfeit funds because they didn't verify.
It is, avoid doing businesses with anyone that operates like this, they shouldn't allow unverified accounts in the first place if they want to do business honestly, in fact, from what I've seen a lot of LocalBitcoin operators use this policy with first time customers. It has actually gotten to a point now where there are businesses who will deliberately avoid the U.S because of how ridiculous U.S regulations are.
October 17, 2014, 03:54:42 PM
Attention is fine, I'm not trying to dodge tax, I don't care about most privacy issues.
If I give them copies of a great deal of official paperwork, and they turn out to be as dodgy and incompetent as MT Gox was by the end, and Bitcoinica, and Bets of Bitcoin, and Bitscalper, etc.... Then the identity theft by someone else that will occur in a few years as a result will be hard to deal with.
I'm not giving them a friends identity.
If I give them copies of a great deal of official paperwork, and they turn out to be as dodgy and incompetent as MT Gox was by the end, and Bitcoinica, and Bets of Bitcoin, and Bitscalper, etc.... Then the identity theft by someone else that will occur in a few years as a result will be hard to deal with.
I'm not giving them a friends identity.
October 17, 2014, 04:00:31 AM
Then withdraw your money, go elsewhere, and likely BitStamp, as per their normal business procedures, will delete their records in due time and nobody will ever know you were a customer there.
The due time is at least 5 years according to the agreement. I understand that exchanges want to comply with the law but it's plain wrong to allow people to deposit without verification and then forfeit funds because they didn't verify.
October 17, 2014, 03:49:08 AM
I have a small holding, but I am still angry. I'm in England.
This is not the place to make a principled stand. Discretion is the better part of valor here. If you're that concerned about your privacy, just find a trusted friend or relative who is not, and give BitStamp their information. Since there are no tax implications, at the moment, I don't see the real harm. Then withdraw your money, go elsewhere, and likely BitStamp, as per their normal business procedures, will delete their records in due time and nobody will ever know you were a customer there.
By contrast, escalating this will only draw attention to yourself, the exact opposite of what you seem to want.
October 17, 2014, 02:55:22 AM
At least you're not being singled out: https://www.cryptocoinsnews.com/bitcoin-exchange-bitstamp-will-give-unverified-accounts-government/
October 16, 2014, 03:18:15 PM
I have a small holding, but I am still angry. I'm in England.
As someone who is quite pro ID, I don't even mind concepts such as ID cards.
But I'm furious at this companies extreme arrogance and clear shortsightedness, if not clearly criminal intent, the tone as much as the content. It doesn't say "our hands are tied", but instead "your clearly up to no good, how dare you", how dare they.
Edit: I have not been able to withdraw my funds for some time before this notice.
Also, it is not just a matter of pride, all the companies in this industry, as I've described above, are so criminal that sending copies of authenticating documents puts me in an unacceptable level of identity theft, likely costing much more to deal with then the value in the account in stress.
As someone who is quite pro ID, I don't even mind concepts such as ID cards.
But I'm furious at this companies extreme arrogance and clear shortsightedness, if not clearly criminal intent, the tone as much as the content. It doesn't say "our hands are tied", but instead "your clearly up to no good, how dare you", how dare they.
Quote
Dear Bitstamp customer,
This is your Final Notice. We have determined that despite you being notified of our change in Bitstamp's Verification Policy more than a year ago on 4th September 2013 and despite our repeated entreaties and warnings to you, you have not yet verified your Bistamp account, resulting in our having to suspend your activity.
Please be advised: We cannot allow unverified customers to trade or do any business whatsoever at Bitstamp, as doing so would violate our AML and KYC policies. See: https://www.bitstamp.net/aml-policy/
As you are holding a balance with Bitstamp, we kindly ask you to verify your account within 28 days of receiving this notification.
If you do not do so, you will have breached our Agreement and failed to remedy your breach. This will automatically result in the following: your account will be terminated, you will lose access rig hts, and you will no longer be considered a Bitstamp customer.
Any remaining balance in your account will be subject to immediate seizure by and forfeiture to regulatory authorities.
Please take these simple verification steps immediately. You can verify your Bitstamp account here: https://www.bitstamp.net/account/verify/ or contact our support at [email protected]
Best regards,
Bitstamp Team
This is your Final Notice. We have determined that despite you being notified of our change in Bitstamp's Verification Policy more than a year ago on 4th September 2013 and despite our repeated entreaties and warnings to you, you have not yet verified your Bistamp account, resulting in our having to suspend your activity.
Please be advised: We cannot allow unverified customers to trade or do any business whatsoever at Bitstamp, as doing so would violate our AML and KYC policies. See: https://www.bitstamp.net/aml-policy/
As you are holding a balance with Bitstamp, we kindly ask you to verify your account within 28 days of receiving this notification.
If you do not do so, you will have breached our Agreement and failed to remedy your breach. This will automatically result in the following: your account will be terminated, you will lose access rig hts, and you will no longer be considered a Bitstamp customer.
Any remaining balance in your account will be subject to immediate seizure by and forfeiture to regulatory authorities.
Please take these simple verification steps immediately. You can verify your Bitstamp account here: https://www.bitstamp.net/account/verify/ or contact our support at [email protected]
Best regards,
Bitstamp Team
Quote
I will not send BitStamp authenticating, and/or legal documents, by post or other means, who will have the opportunity regardless of policy to copy, sell, store or lose these documents.
It should be obvious that Bitcoin Exchanges tend to disappear abruptly, become the victims of theft internally, bankrupt themselves inexplicably while making large profits, or similar, and that I cannot trust BitStamp, regardless of the differences to other companies.
I have never been offered any less dangerous means of identifying myself.
I consider, regardless of the legal position, effectively abruptly freezing my account when I was unable to move my coins to another exchange and now threatening loss of my coins if I do not perform this clearly dangerous act, to be an unreasonable threat and theft of my property, and take particular offence at the tone of this email given that I have wished to take my custom elsewhere for a significant amount of time and would have done so immediately on BitStamps abrupt change of policy if BitStamp had not prevented me doing so.
I feel forced to make a complaint officially, regardless of it I can report this as an incident to the authorities.
It should be obvious that Bitcoin Exchanges tend to disappear abruptly, become the victims of theft internally, bankrupt themselves inexplicably while making large profits, or similar, and that I cannot trust BitStamp, regardless of the differences to other companies.
I have never been offered any less dangerous means of identifying myself.
I consider, regardless of the legal position, effectively abruptly freezing my account when I was unable to move my coins to another exchange and now threatening loss of my coins if I do not perform this clearly dangerous act, to be an unreasonable threat and theft of my property, and take particular offence at the tone of this email given that I have wished to take my custom elsewhere for a significant amount of time and would have done so immediately on BitStamps abrupt change of policy if BitStamp had not prevented me doing so.
I feel forced to make a complaint officially, regardless of it I can report this as an incident to the authorities.
Edit: I have not been able to withdraw my funds for some time before this notice.
Also, it is not just a matter of pride, all the companies in this industry, as I've described above, are so criminal that sending copies of authenticating documents puts me in an unacceptable level of identity theft, likely costing much more to deal with then the value in the account in stress.
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