That boy is so out of his depth that it's not funny or even cringe-worthy anymore, it's just sad.
He's probably afraid to edit the CEX TOS because he doesn't understand it, so he just penned 3 new sections at the end of it. Probably didn't even ask his BOIs to proofread it - I can't imagine that anyone except cyberpinoy would think Q&A format is suitable for TOS.
There are some additional twists too, see highlighted parts below.
https://stakeminers.com/terms.php24. WITHDRAWAL POLICY - EFFECTIVE NOVEMBER 1, 2015
An investor may request to have his investment principal and earnings returned by submitting a request from the email account registered with Stakeminers.
Once your withdrawal request is received Stakeminers will calculate the available BTC in excess or earnings and advise you of your BTC payout for that month.
If your payout amount is less than the available BTC you will be paid out in full that month, if your payout amount is more than the available BTC you will be paid the BTC amount available this month and any balance owning will be paid next month
Example: You request a withdrawal of 10 BTC. Stakeminers calculates that 6 BTC are available for withdrawal this month. Stakeminers will return to you 6 BTC this month and 4 BTC next month.
WHAT IF MORE THAN ONE WITHDRAWAL IS REQUESTED?
If more than one withdrawal is requested in the same month, the withdrawals will be paid out to full in the order they are received. The order will be established by the date on your email requesting the withdrawal. This may result in your waiting more than one month to receive your full principal.
WILL MY WITHDRAWAL REQUEST EFFECT MY EARNINGS?
Yes, once you file your withdrawal request your account will be locked and you will not accrue earnings.
However, any earnings credited to you, up until the day of your withdrawal request, will available for payment as usual on the next Monday payout.
25. PRINCIPLAL WITHDRAWAL FEE POLICY - EFFECTIVE NOVEMBER 1, 2015
There is a 2% (0.02) fee charged to the amount being withdrawn. The fee will be deducted from each payout of principal made. The withdrawal fee is only charged on the principal, not earnings.
IS THERE A FEE ON EARNING PAYMENTS?
No, there is no fee charged to the weekly earnings payments.
WHY IS THERE A PRINCIPAL WITHDRAWAL FEE?
The 2% fee is directed to operating costs. The fee is placed with other internal funds to cover business operating costs. By doing this we generate enough operating funds so that we do not have deduct such costs from your earnings.
26. PRINCIPAL DEPOSIT 90 DAY LOCK-IN PERIOD POLICY - EFFECTIVE NOVEMBER 1, 2015
In order to reduce the rapid in and out movement of funds, which causes large swings to earnings, Stakeminers is implementing a 90 day lock-in period for deposits.
When you make a deposit those funds can not be withdrawn for 90 days. As all deposits are date stamped Stakeminers knows how long funds have been on deposit. Therefore, for investors with multiple deposits, each individual deposit is subject to the 90 day lock-in policy.
Stakeminers can provide you with a listing of your deposits dates and time in the staking pool on request.
WHAT IS THE INTENTION OF THIS POLICY?
There are three objectives to this policy:
- First, to reduce the churn rate to the staking pool. This will ensure the staking pool and earnings continue to grow.
- Second, it reduces the work associated with constantly restructuring coin wallets with every major withdrawal.
- Third, to encourage deposits from investors who are interested in a longer term investment product.
