once bitfinex starts using new users funds to try covering old balances(in the form of tokens).. automatically its a ponzi and things get nasty
I can see that token price going up pretty high if they do it right and make a market for it. People now have the ability to invest in finex which is the best exchange like it or not. Finex might not actually push for a deal with investor before they have to issue token and give back 100% to keep people out of being share holders. Its makes them work, i like it.
Sadly however this offer isn't being extended to US residents. Essentially punishing residents of the states and providing no other option that I can see thus far other than redeeming at present value.
bitfinex should have IP banned US citizens ages ago, they cant let US citizens in and then pretend they dont exist later. this by no means protects bitfinex from court action, by only having restrictions after the fact.. those restrictions would need to be inplace long ago.
its much like doing nothing at a gas station to check the person is over the age limit to buy alcohol.. by having a no-check policy and serving them the store is accountable in court. the store cant plead ignorance later when things go wrong for the store and say its the underage kids fault.
sorry but bitfinex legally and morally has to make US users whole just like anyone else. the only possible way they could avoid a US lawsuit was if bitfinex already had a ID check policy that turns US customers away and it was the US customer that 'lied' by saying he was say european.. then the US customer cant go to court....
but funnily enough if that was the case where a customer 'appears' as european.. then bitfinex still need to honour those debts/people internally(via tokens and recovery plan..) because technically the user is signed in as european, not american. (catch 22 for bitfinex)
so i cant see how bitfinex can blankly not honour any customer, because they obviously didnt blankly say no to the customer using the service in the first place
