Post
Topic
Board Service Discussion
Re: BFX tokens; worth anything? When?
by
Trouble821
on 10/08/2016, 18:05:05 UTC
I ain't so sure this is an idea that's gonna survive. there's a lot of legal uncertainty that needs to be ironed out. many people have made the point that if you touch your bfx coins you're implicitly accepting bitfinex's terms. that doesn't work for a lot of people.

they might find out their plans have a huge spanner thrown in them when they realise there are real people at the other end of their website and they're not happy.

I wouldn't touch the tokens if you are considering being part of a class action or any type of legal proceeding against finex. The token terms say a transferring them also transfers any legal claims against the Bitfinex Group to the transferee. If you sell your tokens you might not be able to sue finex.

https://www.bitfinex.com/bfx_token_transfers

Quote
To transfer a token to another person, a transferor must assign to the transferee any claims that the transferor has against the Bitfinex Group on account of the Losses.
By transferring a token to another person, all transferors thereby assign to the respective transferees any claims that the transferor has against the Bitfinex Group on account of the Losses.

If you don't touch them the finex token terms say the tokens don't waive any legal claims against finex.

https://www.bitfinex.com/bfx_token_terms

Quote
Quote
The token has been issued to you without reduction of or other release or waiver of any claims you may have against the Bitfinex Group. Similarly, the Bitfinex Group has not waived any claims or defences it may have under the Terms of Use or otherwise should you choose to assert any claims independent of the token.