Topic: Poloniex changing their ToS -- Needs verification for withdrawals next week. - page 4. (Read 7852 times)

Quote from: dothebeats on May 19, 2015, 12:54:10 PM

I have already withdrawn all my coins in my poloniex, I really liked them, but I don't want nobody to force me to give them my data unless is necessary, and I want it. They will lose many clients

bad move by poloniex.. indeed they will lose a lot of customers, well time to move to other exchange website then.(bittrex is good)

I think Bittrex is US based and I suspect the real reason for Poloniex's actions is the fact it is US based and worried about trouble from the government. Bittrex might eventually get worried enough to go down the same route, or be forced to.

My thoughts on Poloniex's move is that they were forced to. I can't see any good reason for them to decide to do this on their own, and implement in 48 hours at that. If it was their decision, I would think they would give a bit more notice that that.

I agree. I just wish they explained why they are taking this action. For those who haven't seen it, there are three verification levels:

1. Provide name/nationality.
2. Provide mail address and phone #.
3. Provide passport/social security # (and I forget, maybe something else).

I only did the level 1 and there seems to be no verification that the info is real, at this point.

What do you get for level two? It sounds quite reasonable. Can I buy shitcoins with my fiat? It's about damn time I get all this stuff without some serious taxes...

spud21

sr. member

Activity: 342

Merit: 250

I have already withdrawn all my coins in my poloniex, I really liked them, but I don't want nobody to force me to give them my data unless is necessary, and I want it. They will lose many clients

bad move by poloniex.. indeed they will lose a lot of customers, well time to move to other exchange website then.(bittrex is good)

Given that Bittrex is also a US-based exchange, it will be forced to do the same thing as what Poloniex did sooner or later. Btw, I have a question regarding the new implemented terms of service of Poloniex: are the submission of personal information mandatory even if you aren't a US citizen?

Ye its still mandatory even if you aren't a US citizen.

celestio

sr. member

Activity: 770

Merit: 250

Poloniex has made millions from Monero trading on there. I suspect this is a move towards further "validation"(They might get USD markets).

dothebeats

legendary

Activity: 3542

Merit: 1352

Quote from: MakingMoneyHoney on May 19, 2015, 11:17:38 AM

I have already withdrawn all my coins in my poloniex, I really liked them, but I don't want nobody to force me to give them my data unless is necessary, and I want it. They will lose many clients

bad move by poloniex.. indeed they will lose a lot of customers, well time to move to other exchange website then.(bittrex is good)

Given that Bittrex is also a US-based exchange, it will be forced to do the same thing as what Poloniex did sooner or later. Btw, I have a question regarding the new implemented terms of service of Poloniex: are the submission of personal information mandatory even if you aren't a US citizen?

spud21

sr. member

Activity: 342

Merit: 250

Quote from: Flyskyhigh on May 19, 2015, 10:39:06 AM

I have already withdrawn all my coins in my poloniex, I really liked them, but I don't want nobody to force me to give them my data unless is necessary, and I want it. They will lose many clients

bad move by poloniex.. indeed they will lose a lot of customers, well time to move to other exchange website then.(bittrex is good)

I think Bittrex is US based and I suspect the real reason for Poloniex's actions is the fact it is US based and worried about trouble from the government. Bittrex might eventually get worried enough to go down the same route, or be forced to.

My thoughts on Poloniex's move is that they were forced to. I can't see any good reason for them to decide to do this on their own, and implement in 48 hours at that. If it was their decision, I would think they would give a bit more notice that that.

Agreed, I was shocked by how little notice we were given. Any US based exchange might be forced to do the same. If you give a fake name they might suddenly be forced to demand ID documents to withdraw your coins.

I remember a few people here who were caught in that trap when Bitstamp started demanding ID proof.

fox19891989

hero member

Activity: 840

Merit: 1000

The notice under the trollbox reads:

No accounts will be locked or frozen if you do not provide the information requested. Starting on May 20th at 19:00 UTC, you will need to have your name and country of residence on file to withdraw up to 2,000 USD worth of crypto per day.

From what I see is the same, if people who wanna get 2500 USD(10+btc) withdrawal per day, they need info, but if we don't withdraw that big amount of btc, we don't need enter our info.

But I have submitted my info there, it doesn't matter, you can use fake name there, LOL, I don't think many people need to withdraw so much money there, if you have to do that, you can just pass level 1, and get the money for some days.

fox19891989

hero member

Activity: 840

Merit: 1000

I have to input my name there, and my country to withdraw money, it doesn't matter for me, I can accept that

But I think they should regulate those fiat users, I only trade bitcoin and altcoin there, it is not necessary to get our info there actually.

ebliever

legendary

Activity: 1708

Merit: 1036

Quote from: MakingMoneyHoney on May 19, 2015, 11:17:38 AM

I have already withdrawn all my coins in my poloniex, I really liked them, but I don't want nobody to force me to give them my data unless is necessary, and I want it. They will lose many clients

bad move by poloniex.. indeed they will lose a lot of customers, well time to move to other exchange website then.(bittrex is good)

I think Bittrex is US based and I suspect the real reason for Poloniex's actions is the fact it is US based and worried about trouble from the government. Bittrex might eventually get worried enough to go down the same route, or be forced to.

My thoughts on Poloniex's move is that they were forced to. I can't see any good reason for them to decide to do this on their own, and implement in 48 hours at that. If it was their decision, I would think they would give a bit more notice that that.

I agree. I just wish they explained why they are taking this action. For those who haven't seen it, there are three verification levels:

1. Provide name/nationality.
2. Provide mail address and phone #.
3. Provide passport/social security # (and I forget, maybe something else).

I only did the level 1 and there seems to be no verification that the info is real, at this point.

MakingMoneyHoney

hero member

Activity: 504

Merit: 500

I have already withdrawn all my coins in my poloniex, I really liked them, but I don't want nobody to force me to give them my data unless is necessary, and I want it. They will lose many clients

bad move by poloniex.. indeed they will lose a lot of customers, well time to move to other exchange website then.(bittrex is good)

I think Bittrex is US based and I suspect the real reason for Poloniex's actions is the fact it is US based and worried about trouble from the government. Bittrex might eventually get worried enough to go down the same route, or be forced to.

My thoughts on Poloniex's move is that they were forced to. I can't see any good reason for them to decide to do this on their own, and implement in 48 hours at that. If it was their decision, I would think they would give a bit more notice that that.

spud21

sr. member

Activity: 342

Merit: 250

I have already withdrawn all my coins in my poloniex, I really liked them, but I don't want nobody to force me to give them my data unless is necessary, and I want it. They will lose many clients

bad move by poloniex.. indeed they will lose a lot of customers, well time to move to other exchange website then.(bittrex is good)

I think Bittrex is US based and I suspect the real reason for Poloniex's actions is the fact it is US based and worried about trouble from the government. Bittrex might eventually get worried enough to go down the same route, or be forced to.

fast2fix

legendary

Activity: 1612

Merit: 1001