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Author Topic: Bitspend.net funds seized and service closed  (Read 649 times)
bernard75 (OP)
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June 20, 2013, 12:28:01 PM
 #1

http://www.reddit.com/r/BitSpend/comments/1go95b/updatenews_why_we_have_been_slow_and_taking

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Chase bank and another bank, have both decided that we as a Bitcoin based business are "Too High Risk" of clients, and have frozen/shut down our accounts. We were NOT given notice, and we were simply told "your funds will be sent to you by check within 30 days". This is not something we were ever warned about, given notice of, or even received the courtesy of a phone call from the bank beforehand.

This is becoming increasingly annoying!
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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painlord2k
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June 20, 2013, 01:02:44 PM
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More banks do this, more the ones not doing it will profit not doing it.
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MPOE-PR
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June 20, 2013, 03:05:18 PM
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Chase bank and another bank, have both decided that we as a Bitcoin based business are "Too High Risk" of clients, and have frozen/shut down our accounts. We were NOT given notice, and we were simply told "your funds will be sent to you by check within 30 days". This is not something we were ever warned about, given notice of, or even received the courtesy of a phone call from the bank beforehand.

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Oh hi we are new firm of running Bitcoin-fiat interface services without the slightest clue as to how stuff works or even a cursory read through the fiat documentation. Please take us seriously! We are a business! Entrepreneurs! Change the world! Rawr!

Funny shit.

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joesmoe2012
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June 21, 2013, 01:46:34 AM
 #4

What was the other bank?

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