MPEx Accounts Spring Scrub, 2013

[MPOE-PR]

Starting on January 5th, 2013 all MPEx accounts that have a zero BTC balance and zero holdings of any kind (including any stocks, shares, options, futures, funds, also including any sums deposited as collateral for option or future issuance) will be disabled. This means you will not be able to use MPEx (”Unrecognized signature. Please email your public key first.” error.)

Starting on February 5th, 2013 all MPEx accounts that have been disabled as per above and have not been reinstated will be purged. This means all account data will be deleted. Accounts’ signature will be replaced with MPEx’s own in our trade history databases. Signed receipts will be discarded. You will not be able to file any claims for anything whatsoever after this date.

In order to reinstate a disabled account you can contact us any time after January 5th, 2013 but before February 5th, 2013. Your account will be re-enabled on request, however, if your balances etc are still zero on February 5th, 2013 your account will still be purged.

This will be a recurring yearly event. Please plan your account management accordingly.

Original article.

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[Zeeks]

What is the reasoning for this?

[phantastisch]

What is the reasoning for this?

Opening a new Account costs some BTC on MPEX. 

My best guess is this was stated nowhere before they took the money. So now you have to be on the watch or the account you have paid for is gone.

They are basically forcing their Users to go on MPEX and trade.

Keeping the Database clean would be the only logical explanation. But it is not that logical. We are not talking about thousands of users...

I would never recommend business with these guys. They mean trouble , they will act unreasonable and NOT with their users in mind.

If you understand the risks go on, if not stay the fuck away.

[picobit]

Starting on January 5th, 2013 all MPEx accounts that have a zero BTC balance and zero holdings of any kind (including any stocks, shares, options, futures, funds, also including any sums deposited as collateral for option or future issuance) will be disabled. This means you will not be able to use MPEx (”Unrecognized signature. Please email your public key first.” error.)

Starting on February 5th, 2013 all MPEx accounts that have been disabled as per above and have not been reinstated will be purged. This means all account data will be deleted. Accounts’ signature will be replaced with MPEx’s own in our trade history databases. Signed receipts will be discarded. You will not be able to file any claims for anything whatsoever after this date.

In order to reinstate a disabled account you can contact us any time after January 5th, 2013 but before February 5th, 2013. Your account will be re-enabled on request, however, if your balances etc are still zero on February 5th, 2013 your account will still be purged.

This will be a recurring yearly event. Please plan your account management accordingly.

Original article.

MPOE-PR:  If anybody else had posted this, you would have been the first to call it shady business practises or something like that. If anybody have shares but are not actively trading, they loose the ability to access their assets

[MrTeal]

Starting on January 5th, 2013 all MPEx accounts that have a zero BTC balance and zero holdings of any kind (including any stocks, shares, options, futures, funds, also including any sums deposited as collateral for option or future issuance) will be disabled. This means you will not be able to use MPEx (”Unrecognized signature. Please email your public key first.” error.)

Starting on February 5th, 2013 all MPEx accounts that have been disabled as per above and have not been reinstated will be purged. This means all account data will be deleted. Accounts’ signature will be replaced with MPEx’s own in our trade history databases. Signed receipts will be discarded. You will not be able to file any claims for anything whatsoever after this date.

In order to reinstate a disabled account you can contact us any time after January 5th, 2013 but before February 5th, 2013. Your account will be re-enabled on request, however, if your balances etc are still zero on February 5th, 2013 your account will still be purged.

This will be a recurring yearly event. Please plan your account management accordingly.

Original article.

MPOE-PR:  If anybody else had posted this, you would have been the first to call it shady business practises or something like that. If anybody have shares but are not actively trading, they loose the ability to access their assets

See highlights

[MPOE-PR]

Opening a new Account costs some BTC on MPEX. 

My best guess is this was stated nowhere before they took the money. So now you have to be on the watch or the account you have paid for is gone.

They are basically forcing their Users to go on MPEX and trade.

Nah, your scenario doesn't work.

When you first deposit in your account the fee is subtracted from that deposit. However, the fee is 30 BTC exactly whereas all deposits are BTC.0xxxxxxxx because that's how beneficiaries are identified, by those decimals. So if you do nothing but start a new account and fund it, you will have 0.0xxxxxxx BTC in it and not be included.

Keeping the Database clean would be the only logical explanation. But it is not that logical. We are not talking about thousands of users...

We are in fact talking of thousands of users.

See highlights

Exactly.

[kokojie]

What kind of database can't handle "thousands" of users? Even the free ones can handle billions easily.

[davout]

What kind of database can't handle "thousands" of users? Even the free ones can handle billions easily.

I think scrubbing unused accounts isn't a bad thing, especially with such low requirements as at least keeping a few satoshis in there.
I don't know exactly how MPEx is built but I guess keeping a key in the GPG keyring is more expensive than just keeping a row in a database and that GPG doesn't scale as well as a RDMS when the keyring size increases. But hey, wild guesses here

[segabtc]

ROFLMAO,  remember you just made a donation to MPOE!!!!!  What a dirtbag! You pay money and then you loose the ability trade. Can we get a scammer tag for him now?   

[MPOE-PR]

ROFLMAO,  remember you just made a donation to MPOE!!!!!  What a dirtbag! You pay money and then you loose the ability trade. Can we get a scammer tag for him now?   

No, but you can get a "I Cnat Raed" tag.

On a sub note: all you GLBSE champions can go suck an onion. You bet on the wrong horse, you were raped for it. Continue betting on the wrong horses, continue getting raped for it until you run out of BTC and energy. Nobody cares, and us least of all.

[Rassah]

So... stick BTC0.00000001 in your account, and problem solved? If yes, I guess I could see this as being OK.