Circle Spanks Bitcoin with Account Restrictions, Bitcoin-Free Ads, and Limits

Kprawn

legendary

Activity: 1904

Merit: 1073

It's simple... just create a account with the competition and slowly transfer all your Bitcoin out of there as quick as possible. They remind me of the banks in Greece, when it

was at it's worst, putting daily limits on the amount people were allowed to withdraw. I would shift to Coinbase for now, if you have to use these type of services.

Once everyone has left and taken their BTC, they can "Circle" jerk each other for what I care. Angry

...This is why I do not trust centralized services. Wink

jacktheking

legendary

Activity: 1484

Merit: 1001

Personal Text Space Not For Sale

It is actually a good news that a company uses Bitcoin to shoot themselves up from the ground. It could bring in some hype in the business world and many other startups will follow Circle footsteps. Some might abandon Bitcoin when they success. However, I dont think there will be many companies which will say goodbye to the 'technology' that kickstarted them.

subwoofer12

sr. member

Activity: 251

Merit: 253

Lol at the $300/week sell limits

But three weeks ago I could sell this much

cjmoles

legendary

Activity: 1176

Merit: 1016

Wow! It looks likes it's beginning....the forces that be are leaning a little hard on the early adopters and they're back pedaling. Circle has always seemed to be a little on the centralization and regulatory side of things...let the weak hands fall and it will open the doors for somebody else to provide the services.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: ArticMine on September 25, 2015, 09:34:06 PM

Quote from: smoothie on September 25, 2015, 05:47:15 PM

I agree that if it is because of the block size issue they do need to grow but they should give credit where credit is due.

If they are using bitcoin as the network to jump start their company and to facilitate money transfers they should say how they are doing it even in a general sense.

I watched the video and yup they are really trying to distance themselves from bitcoin.

Wow just wow...

Unfortunatly this may be a sign of things to come. There is a chilling silence from Winklevoss twins and thier ETF for example. I have sold over 99% of my Bitcoins for a combination of Monero and Canadian Dollars, not because of fungibility, but because of the 1 MB blocksize issue. I understand where Circle is coming from.

Edit: The real problem is: How will Bitcoin develop a fee market once the emission runs out? This is the real reason why there has not been a solution to the blocksize issue.

Good point. How can you have a fee market with no block reward?

BurnRubber

newbie

Activity: 2

Merit: 0

Quote from: fryarminer on September 25, 2015, 01:59:39 PM

I've heard you can't buy BTC instantly with CC anymore. Just debit card. I don't care to use Circle to verify this however, I'm just walking away.
I'm sorry I ever gave a good review for them.

It has only ever been a U.S CC and debit card anyway. So many companies ride Bitcoin only to get off when they've captured a user base. Personally I think that's a mistake longterm, but short term a large amount of companies don't see profits and adoption as quickly as they (their investors) would have liked to. I think if they build it with Bitcoin in mind they can use Bitcoin/blockchain as a rail, and then bring it to the front/back of the dashboard as they please. I think many of these companies are underestimating the Bitcoin effect though.

Many people are loyal to a company just because the company did something for Bitcoin, take that away and then I think you might well get a house of cards situation.

chennan

legendary

Activity: 1316

Merit: 1004

Quote from: Alley on September 25, 2015, 03:02:16 PM

I just closed my circle account. Very disappointing. I'm using coinbase till Gemini launches.

I used coinbase a while back but recently stuck with using circle, because at the time, it was a very convenient way to sync my bank account info to the site and by bitcoins using my checking account. Just as of now, I tried to buy a good bit of bitcoin and they gave me around 40% of my initial deposit in bitcoin and then told me to wait 4 business days so now I have to wait for the next week to get the rest of my bitcoins in. It's just a very inconvenient way to purchase bitcoins, but I guess I'll have to use coinbase now to buy in the meantime, because of the fact that there is no one around me that uses localbitcoins for me to buy.

Circle definitely gave the bitcoin community the long hard shaft on this one.

rychallenge

full member

Activity: 154

Merit: 100

And here we thought circle was our new saviour for USD to BTC.
Darn you circle

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Quote from: smoothie on September 25, 2015, 05:47:15 PM

I agree that if it is because of the block size issue they do need to grow but they should give credit where credit is due.

If they are using bitcoin as the network to jump start their company and to facilitate money transfers they should say how they are doing it even in a general sense.

I watched the video and yup they are really trying to distance themselves from bitcoin.

Wow just wow...

Unfortunatly this may be a sign of things to come. There is a chilling silence from Winklevoss twins and thier ETF for example. I have sold over 99% of my Bitcoins for a combination of Monero and Canadian Dollars, not because of fungibility, but because of the 1 MB blocksize issue. I understand where Circle is coming from.

Edit: The real problem is: How will Bitcoin develop a fee market once the emission runs out? This is the real reason why there has not been a solution to the blocksize issue.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

I agree that if it is because of the block size issue they do need to grow but they should give credit where credit is due.

If they are using bitcoin as the network to jump start their company and to facilitate money transfers they should say how they are doing it even in a general sense.

I watched the video and yup they are really trying to distance themselves from bitcoin.

Wow just wow...

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Quote from: MicroGuy on September 25, 2015, 05:01:43 PM

Quote from: PolarPoint on September 25, 2015, 04:54:37 PM

I visited Circle's site minutes ago. There is no mention of bitcoin anywhere now. So, what will Circle become without bitcoin? Money transfer service like PayPal. That is a step backward. What a waste of their bitlicense.

I think this was a business decision based at least partly on the fact that bitcoin core development has reached a standstill. It's pretty obvious to anyone that looks carefully that bitcoin is badly broken in terms of development innovation, adaptation, and growth.

Circle has too much invested to just sit around and wait for the core team to get their act together. We'll probably see a continued business exodus and overall market disintegration until the core team can find some agreement and direction.

My take is that this is a direct result of the 1 MB blocksize limit. If Bitcoin cannot grow, while Circle wishes to grow as a company they have to do something.

MicroGuy

legendary

Activity: 2506

Merit: 1030

Twitter @realmicroguy

Quote from: PolarPoint on September 25, 2015, 04:54:37 PM

I visited Circle's site minutes ago. There is no mention of bitcoin anywhere now. So, what will Circle become without bitcoin? Money transfer service like PayPal. That is a step backward. What a waste of their bitlicense.

I think this was a business decision based at least partly on the fact that bitcoin core development has reached a standstill. It's pretty obvious to anyone that looks carefully that bitcoin is badly broken in terms of development innovation, adaptation, and growth.

Circle has too much invested to just sit around and wait for the core team to get their act together. We'll probably see a continued business exodus and overall market disintegration until the core team can find some agreement and direction.

pedrog

legendary

Activity: 2786

Merit: 1031

Who cares?

They are not the only player in town...

Quote from: PolarPoint on September 25, 2015, 04:54:37 PM

I visited Circle's site minutes ago. There is no mention of bitcoin anywhere now. So, what will Circle become without bitcoin? Money transfer service like PayPal. That is a step backward. What a waste of their bitlicense.

Go home, you're drunk.

PolarPoint

hero member

Activity: 672

Merit: 500

I visited Circle's site minutes ago. There is no mention of bitcoin anywhere now. So, what will Circle become without bitcoin? Money transfer service like PayPal. That is a step backward. What a waste of their bitlicense.

Meuh6879

legendary

Activity: 1512

Merit: 1011

Bitcoin don't need corp.
Like all P2P network ... it work ALONE.

Alley

legendary

Activity: 910

Merit: 1000

I just closed my circle account. Very disappointing. I'm using coinbase till Gemini launches.

fryarminer

hero member

Activity: 686

Merit: 500

Quote from: romjpn on September 25, 2015, 06:04:55 AM

I will follow that closely.
For the moment it's still a good service to buy small amounts of bitcoins instantly with a CC.

I've heard you can't buy BTC instantly with CC anymore. Just debit card. I don't care to use Circle to verify this however, I'm just walking away.
I'm sorry I ever gave a good review for them.

|Bitcoin|

sr. member

Activity: 320

Merit: 250

It is a big backstab! We the people of bitcoin nation cannot stay silent. We should immediately stop using their app until we receive good answer from their team. I can't stay behind this huge backstab.

romjpn

full member

Activity: 193

Merit: 100

I will follow that closely.
For the moment it's still a good service to buy small amounts of bitcoins instantly with a CC.

coinpr0n

hero member

Activity: 910

Merit: 1000

Welcome to the corporate takeover of Bitcoin. Looks like the party is over and no time to clean up before mom and dad get home!

Topic: Circle Spanks Bitcoin with Account Restrictions, Bitcoin-Free Ads, and Limits (Read 1567 times)