Nice attempt to get a quick spike to liquidate your holdings. There is every reason to panic - 2 major exchanges closing or effectively closing down is dire news.
The sell off will and should continue until a solution is found.
Topic: Bitfunder - no reason for a fire sale - page 2. (Read 2957 times)
I did not receive this notice in my email so I wanted to let the community know about it.
Supplemental Notice (October 11, 2013)
As of October 8, 2013, BitFunder is not assessing any new fees against any user BitFunder knows to be a U.S. person and whose account will be restricted in accordance with BitFunder's October 8, 2013 notice.
Users who are U.S. persons or users who fail for any reason to provide the information necessary to obtain "Verified" status are encouraged to transfer their shares from the BitFunder site to the respective issuer(s) no later than December 1, 2013.
As of December 2, 2013, BitFunder will initiate a transfer from the BitFunder site to the respective issuer(s) of any remaining shares held by any users that BitFunder knows to be U.S. persons or who did not obtain "Verified" status by December 1, 2013, and will provide the issuer(s) with the public bitcoin address associated with the user account. After transfer, each user will need to work with the issuer(s) with respect to the future treatment of the shares.
On December 2, 2013, all bitcoin balances in the accounts of users that BitFunder knows to be U.S. persons and users that did not obtain "Verified" status by December 1 will be transferred to their linked WeExchange accounts.
And from the original notice: Users will be able to withdraw holdings and Bitcoins from their BitFunder accounts before and after November 1, 2013.
I am a US citizen so... This new notice and the prior notice combined state that there is no reason to sell your shares at pennies on the dollar. You have until December 1st to get this straightened out.
Subsequently, I have canceled all of my sell orders and changed them to a 5% or 10% discount. So I added up the prices I paid for the stock, multiplied that price by .95 or .90, and set a new price.
In the meantime, until December 1, I am still collecting dividends and have the sell prices set. If sales do not occur by Dec. 1, then I will have to work something out with the issuer.
Supplemental Notice (October 11, 2013)
As of October 8, 2013, BitFunder is not assessing any new fees against any user BitFunder knows to be a U.S. person and whose account will be restricted in accordance with BitFunder's October 8, 2013 notice.
Users who are U.S. persons or users who fail for any reason to provide the information necessary to obtain "Verified" status are encouraged to transfer their shares from the BitFunder site to the respective issuer(s) no later than December 1, 2013.
As of December 2, 2013, BitFunder will initiate a transfer from the BitFunder site to the respective issuer(s) of any remaining shares held by any users that BitFunder knows to be U.S. persons or who did not obtain "Verified" status by December 1, 2013, and will provide the issuer(s) with the public bitcoin address associated with the user account. After transfer, each user will need to work with the issuer(s) with respect to the future treatment of the shares.
On December 2, 2013, all bitcoin balances in the accounts of users that BitFunder knows to be U.S. persons and users that did not obtain "Verified" status by December 1 will be transferred to their linked WeExchange accounts.
And from the original notice: Users will be able to withdraw holdings and Bitcoins from their BitFunder accounts before and after November 1, 2013.
I am a US citizen so... This new notice and the prior notice combined state that there is no reason to sell your shares at pennies on the dollar. You have until December 1st to get this straightened out.
Subsequently, I have canceled all of my sell orders and changed them to a 5% or 10% discount. So I added up the prices I paid for the stock, multiplied that price by .95 or .90, and set a new price.
In the meantime, until December 1, I am still collecting dividends and have the sell prices set. If sales do not occur by Dec. 1, then I will have to work something out with the issuer.
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