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Author Topic: Bitstamp :( warnings and rejoinders.  (Read 327 times)
koshgel
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May 21, 2019, 08:16:41 PM
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they are most likely forced into compliance by police entities looking for money laundering and drug operations.
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May 21, 2019, 08:41:09 PM
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they are most likely forced into compliance by police entities looking for money laundering and drug operations.

I'm sure that is the case.

Bitstamp are asking for documents which cannot exist in the case of early adopters and miners.  Whether it is forced upon them by regulators or whether they simply don't have the ethics/acumen to implement a workable solution is unknown.  But it also doesn't matter much since there are other options and various work-arounds.

Note that if one tries to fabricate data, which seems to be the solution which occurs many people and is the only option available to continue to use their services, then Bitstamp will have the evidence to turn your perfectly legal coins into ones which can be classified as illegal for the purposes of AML.  Illegal on ANY platform.  Tainted.

I would gently suggest to my fellow early adopters to not fall into that trap and taint the pay-out of your visionary speculations.  And don't give Bitstamp or anyone else that ammo to use against you.  Evidence of criminal activity against a user is probably worth a lot more to Bitstamp than the fees they could generate by keeping you as a customer.  It's good trading stock to them in the 'regulatory market' as it has evolved.


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May 24, 2019, 07:42:21 AM
 #23

New issue with Bitstamp Sad

Now they are bothering at least one person for 'documents' about where Bitcoin came from.  This person is not in Europe or in the United States and has nothing to do with either geographical area.

The thing is, for some people buying 10 BTC cost about $20 back in the day, and plenty of people obtained a ton of BTC from mining.  There would have been no reason to keep detailed records of anything back then.  Bitstamp was around back in those days and at least some of them should know this.  They keep bothering people with the same questions over and over again and threatening to hold back wire transfers unless information which doesn't make any sense (and is fairly private even if it did.)

What do people suppose is Bitstamp's game here?  Are they working for some entity to get sensitive information about people?  Are they under the thumb of some national or multi-national interests and forced to gather information about citizens from third countries?  Are they just accumulating data for their own use and/or sale?

This is just bitstamp being bitstamp, next time please do some more due diligence:

Bitstamp - wanted to withdraw money and was hit with these weird KYC questions

Obviously anyone doing anything over trivial sums of BTC needs to have multiple exchanges to use.  Any recommendations which are working somewhat at this time?

I could, but not for USD.

If it's just for selling off coins and not day trading, then you can try localbitcoins in person cash trades. Especially after you have earned some positive feedback you can place ads and sell coins above the market price. I would stay away from bank transfers, or anything similar where someone could send you money from a compromised bank account.

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