[2015-08-25] Circle Blocks User Funds And Blacklists Bank Accounts

[jdebunt]

http://digitalmoneytimes.com/crypto-news/circle-blocks-user-funds-blacklists-bank-accounts/

It will only be a matter of time until centralized Bitcoin services will feel the wrath of the traditional financial ecosystem as we know it.  Several Bitcoin exchanges have been struggling to find reliable banking partners in recent years and certain banks started halting all transfers involving Bitcoin.  But when Bitcoin service providers start freezing funds and banning bank accounts themselves, things are starting to look very worrying.

[1715595162]

1715595162

[RustyNomad]

Moral of the story?

If you do not have full and exclusive control over all of your private keys it means that a third party does and in such a case it means that you do not have full control over your wallet and or its contents. You will forever be a salve to your 'master'.

The major problem with centralized services such as Circle and most Bitcoin exchanges, is that they not only hold customer funds in both fiat and BTC, but they also have the power to blacklist users without valid reason.

[Carlton Banks]

Circle

Makes it sounds like you should be able to get your money in and out lol

Who are these jokers?

[RustyNomad]

Who are these jokers?

The ones making you running around in circles for your money 

[pedrog]

"While these are all unconfirmed reports at this time, "

Just reporting unconfirmed reports...