Bitfinex banning US citizens on Nov 9. Another dip coming up?

[barota]

The reason for all this ban

Is the terrible rising  For prices bitcoin

bitcoin must drop or !!!!!!!!??------

[coyote50]

They automatically disabled all people from (Iran,Syria,North Korea) OFAC-restricted countries.
Without warning their customers to take out their coins before termination.
As for now they're reviewing each one case by case.

good. we don't need terrorists and regimes to be financed through bitcoin. that is ultimately VERY bad for the coin

[Lagduf]

https://www.bitfinex.com/posts/227

Should we expect another dip? Will other exchanges follow? Why? Do you guys have any answers?

Nope, that will not give any impact to the market. Sec has attacked the crypto since the SEC already announced to ban the ico in there, but this time you can see the truth the ico back again with the more massive interest.
The possible thing to bitfinex to ban US citizen through the KYC verification.
But is that mean every member on the bitfinex must do KYC verification?

[hitrawal91]

First of all let me clear few things here, you cant expect another dip just because US individual Crypto users are going to be banned by Bitfinex on November 9 2017. You need to make sure what is the reason for banning, is there any kind of positive approach behind this banning or is this a sign of any kind of disinterest here by US country. May be this ban is just a short term action and I hope that US wants to regulate bitcoin strictly by introducing some new rules and regulations to their country users, for security purposes, which in turn is a good positive approach leading to positive impact sooner. I don't think this banning is the only reason for Dips to take place, instead i am expecting a dip on BITCOIN FORK day. Let be positive and hope for Positive news.

[Kencha77]

https://www.bitfinex.com/posts/227

Should we expect another dip? Will other exchanges follow? Why? Do you guys have any answers?

SEC has made an anouncement to crack down on exchanges and attempt a full on crash of no recovery with Bitcoin. I think they are just butthurt.
They can't really find an institution or body to talk to about this because everything is decentralized (hahahahaha) so they see harassing exchanges as their only option.

I can understand what they are trying to do. SEC don't want another Mt. Gox incident again which is very frightening if you think about it. Millions of dollars worth of coins being hacked have an impact not only to the users of that exchange but also to the integrity of cryptocurrencies as a whole.

[Dullmartini]

https://www.bitfinex.com/posts/227

Should we expect another dip? Will other exchanges follow? Why? Do you guys have any answers?

SEC has made an anouncement to crack down on exchanges and attempt a full on crash of no recovery with Bitcoin. I think they are just butthurt.
They can't really find an institution or body to talk to about this because everything is decentralized (hahahahaha) so they see harassing exchanges as their only option.

I can understand what they are trying to do. SEC don't want another Mt. Gox incident again which is very frightening if you think about it. Millions of dollars worth of coins being hacked have an impact not only to the users of that exchange but also to the integrity of cryptocurrencies as a whole.

Completely agree and to add even more to that. Sec is even more interested now because a lot of hedge funds are investing in crypto, which means that any large crypto failure or scam may have very wide range financial knock on effects. It’s called systemic risk and it’s what happened in the 2008 financial crisis when everyone and their mother started investing in shitty mortgage backed securities. The world suffered years of economic downturns because of how these shit securities were too connected with everyone and every financial institution

[Nerman]

Most likely there will be a price drop when this happen but i do not expect that there will be huge impact on the totality of the market and most likely the price will recover  right away. Also with this news americans would be changing their platform as early as their first announcement. There are some exchange platform that are exclusive in United States I think they will prefer to be on that exchange.